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BEIJING, April 5 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Sunday held phone talks respectively with U.S secretary of state and foreign ministers of Russia, Japan and South Korea on the Democratic People's Republic of Korea's (DPRK) launching activity.     China has noticed the DPRK's announcement of having launched an experimental communications satellite and taken note of the concerns expressed by the relevant parties on this issue, Yang told his counterparts of the U.S., Russia, Japan and South Korea Hillary Clinton, Sergei Lavrov, Hirofumi Nakasone, and Yu Myung Hwan.     China, as a close neighbor of the Korean Peninsular, has always been committed to safeguarding peace and stability on the Korean Peninsular and in the Northeast Asia region, Yang said.     The Chinese government lately has reiterated its stance on solving the issue through dialogue and consultation and opposing any actions that could complicate the situation and escalate tension, he added.     To push forward the six-party talks, build a nuclear-free Korean Peninsular and maintain peace and stability in Northeast Asia are in the interests of all parties concerned and also the common aspirations of the international community, said the Chinese minister.     He said the Chinese side urged all relevant parties to show restraint and avoid any moves that could further increase tension in the region.     China will address the current situation in a responsible and constructive manner, Yang said, noting that China is willing to communicate with all parties concerned to solve the issue properly.     China will join efforts with other parties to advance the six-party talks and safeguard peace and stability of the Korean Peninsular, he added.     Russian, Japanese, South Korean foreign ministers and the U.S. sectary of state also expressed their countries' willingness to continue exchanges of views and consultation with China on the issue.

BEIJING, April 13 (Xinhua) -- China's Ministry of Finance (MOF) said Monday that fiscal revenue fell 0.3 percent from a year earlier to 440.22 billion yuan (64.43 billion U.S. dollars) in March.     First-quarter fiscal revenue fell 8.3 percent to 1.46 trillion yuan, the ministry said on its website, while tax revenue shrank 10.3 percent to 1.3 trillion yuan.     Fiscal revenue includes taxes as well as administrative fees and other government income, such as fines and income from government-owned assets.     Business profits shrank as economic growth slowed, the MOF said, and tax cuts intended to spur the economy and the financial markets reduced government revenues. First-quarter business income tax revenue fell 16.7 percent.     China halved the purchase tax on cars with engine displacements of less than 1.6 liters on Jan. 20, and revenue from that tax was down 7.6 percent in the first quarter.     To shore up the stock market, the government cut the share trading stamp tax from 0.3 percent to 0.1 percent last April and scrapped the stamp tax on stock purchases in September. And even though the benchmark Shanghai Composite Index is up more than 35 percent so far this year, the tax cuts on share transactions meant a decline of 86.2 percent in revenue from that category in the first quarter.     Actual revenue amounts in each category were not released.     Customs tariff revenue fell 23.9 percent during the first quarter, the MOF said, without giving further details.     Central government fiscal revenue fell 17.7 percent in the first quarter to 721.3 billion yuan, while local government fiscal revenue rose 3 percent to 742.9 billion yuan.     First-quarter fiscal expenditures surged 34.8 percent to 1.28 trillion yuan, as both the central and local governments adopted a proactive fiscal stance to boost the economy and domestic demand.     China unveiled a 4-trillion-yuan stimulus package in November to be spent over in next two years, with 1.18 trillion yuan from the central government.     Fiscal revenue exceeded 6.13 trillion yuan in 2008, up 19.5 percent.

HONG KONG, March 14 (Xinhua) -- China may get a more level playing field in terms of self-positioning when dealing with the United States amid the economic downturn, but Chinese leaders should beware of the potential traps behind U.S. flattering, scholars and senior editors said Friday.     Speaking at a Financial Times forum on Sino-U.S. relations in Hong Kong, the scholars said they expected the bilateral relationship to remain generally healthy in years ahead as both sides want stability and were pragmatic.     China is currently preoccupied with tackling the challenges facing itself, such as the need to further restructure the economy, finding an alternative development model to the export-driven growth of the past decades, and even the pressure of social instability.     The decisions made by Chinese leaders in dealing with the current crisis "will set the way for the long-term reinvention of the Chinese economy," said Jonathan Fenby, author of A History of Modern China published by Penguin.     China will emerge stronger if it can deal with the issues rightly, he said.     Lifen Zhang, editor-in-chief of FTChinese.com, said China does not have the strength to be the economic savior amid the current crisis and should handle self-positioning carefully when dealing with the United States.     "There is a lot of flattering going on at the moment, but be careful. What do the Americans really want?" he said, adding that a number of scholars have recently written on the topic.     On the top of the U.S. agenda was currently the need to restore confidence and integrity in the world's most developed economic system, which calls for cooperation from China, the world's fastest growing developing economy, said Simon Schama, professor of history at the University of Columbia.     But Schama said China should bear in mind that the next election in the United States will be in 2010 and avoid overplaying the leverage in its hand.     "What the Chinese government ought to be aware of is not so to overplay in its hands this leverage as to encourage a .. backlash" as the conservatives may seize certain popular issues, including trying to present an image of the Obama administration as being too soft, he said.

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