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BEIJING, March 20 (Xinhua) -- China and Japan should strengthen cooperation to deal with the financial crisis, said Chinese top legislator Wu Bangguo on Friday.     "China is willing to work with Japan to properly handle sensitive issues in bilateral relations and consolidate our political foundations," said Wu, chairman of the Standing Committee of the National People's Congress.     In a meeting with Japanese Defense Minister Hamada Yasukazu, Wu said China-Japan relations were improving and cooperation in various fields have expanded. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Japanese Defense Minister Yasukazu Hamada at the Great Hall of the People in Beijing, capital of China, on March 20, 2009    Stressing the importance of China and Japan in the Asia-Pacific region, Wu said developing relations conformed to the fundamental interests of both countries and was conducive to world peace, stability and development.     He hoped China and Japan would expand defense and other cooperation to push forward long-term, healthy and stable relations.     Hamada Yasukazu said Japan would like to enhance strategic and mutually reciprocal relations with China.

BEIJING, March 31 (Xinhua) -- China has announced the launch of a long-awaited growth enterprise board on May 1 as a new direct financing platform for innovative companies.     Companies that seek listing at the new Nasdaq-like second board should have net assets of at least 20 million yuan and be open for business for more than three years, the country's securities regulator said in a set of guidelines that was made public in the small hours Tuesday and take effect on May 1. The Shanghai Composite Index gained 15.17 points, or 0.64 percent to 2,373.21 on Nasdaq-style second board launch in China, Mar.31,2009    The China Securities Regulatory Commission also requires the issuer stay in the black for the recent two consecutive years with combined profits of at least 10 million yuan, or report profits of at least 5 million yuan for the most recent year on revenues of at least 50 million yuan, with annual revenue growth of at least 30 percent in the recent two years.     A CSRC spokesman called the move "an important measure to improve the structure of China's capital market and expand the market's depth and width."     The proposal of establishing a second board was first put forth more than a decade ago. In 2004, a mini second board for small and medium-size enterprises was set up at the Shenzhen Stock Exchange to test the waters..     Small and medium-size enterprises have long been a pillar in China's economy, which has grown to the world's third largest

BEIJING, March 14 (Xinhua) -- China will foster a number of globally competitive logistics companies by 2011, said a stimulus plan of the country's logistics industry released on the government website on Friday.     All departments and local governments are urged to make efforts to achieve the goal, according to the plan, issued by the State Council, or the cabinet.     It said local authorities should help logistics companies solve problems in their development, realize a 10-percent annual growth in their output and lower the proportion of logistics expenses in the country's GDP.     The cabinet said in a notice that the country's logistics industry was affected by the unfolding global financial crisis. The stimulus plan was designated not only to promote its industrial upgrade but support development of other industries, expand consumption and increase employment.     As a composite service industry, logistics, comprising transport, storage, information industries and freight agencies, is an important part of national economy, said the plan.     The cabinet has rolled out support plans for ten industries including steel, auto and textile, targeting industrial growth, as well as restructuring and upgrading.

BOAO, Hainan, April 18 (Xinhua) -- Former U.S. President George. W. Bush said Saturday that East Asia is playing a bigger role in global economy, and the world economic center has moved from Atlantic to Asia Pacific.     The Asia Pacific takes up 55 percent of the global economy, and it is of vital interest to stay "heavily engaged" with the countries in the region, he said at a banquet speech held during the Boao Forum for Asia (BFA) annual conference 2009. Former U.S. President George W. Bush gives a keynote speech at a dinner session in Boao, a scenic town in south China’s Hainan Province, April 18, 2009. Bush gave a keynote speech on the dinner session titled "The U.S., Asia and the Future" here on Saturday.  "That's why I have never missed a single APEC meeting when I was in office, because I know how important it is to the prosperity," he said.     "The global financial system does need reform, needs greater transparency," he noted.     "Accessible banking standard is needed to be in place to prevent over leverage. A better warning system is needed to be put into place to anticipate crisis," he said. Long Yongtu (L), Secretary General of Boao Forum for Asia (BFA), welcomes former U.S. President George W. Bush at a dinner session in Boao, a scenic town in south China’s Hainan Province, April 18, 2009. Bush gave a keynote speech on the dinner session titled "The U.S., Asia and the Future" here on SaturdayHe said that 20 years ago, a meeting of G7 or G8 was enough to sort out the problems, since they comprised a large share of the global economy. But now they are no longer significantly large, so such a meeting has to expand to 20, said Bush.     "We learn lessons from the past that we are intervened in close coordination with each other," he said.     As the 43rd U.S. president, Bush spoke out the fact that he had maintained good personal relations with China. He said making friends with Chinese leaders made it easier to do diplomacy. Long Yongtu (L), Secretary General of Boao Forum for Asia (BFA), gives a speech while former U.S. President George W. Bush listens at a dinner session in Boao, a scenic town in south China’s Hainan Province, April 18, 2009. Bush gave a keynote speech on the dinner session titled "The U.S., Asia and the Future" here on Saturday. He said changes in China are marvelous, and to have discussions without China sitting at the table makes no sense.     He stressed the world must resist isolation and protectionism, and must resist the temptation to over-correct.     "More we interact, more quickly we can succeed," he said.     In mid-March, Bush gave his first speech after leaving office in Calgary of Canada, which stirred up a protest of 200 people and shoe throwing outside the event, according to media reports.