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BEIJING, June 8 (Xinhua) -- The new alliance between Rio Tinto and BHP Billiton Ltd. might lead to a monopoly operation and China should be prepared for anti-monopoly measures, warned an expert.     Mei Xinyu, an economist with the Ministry of Commerce (MOC), told Xinhua Monday that China should closely watch the joint venture process of the two mining giants and be ready to work with other countries to curb market manipulation when necessary, with the help of the anti-monopoly law.     Rio Tinto scrapped the proposed 19.5 billion U.S. dollars of investment by Aluminum Corp. of China, or Chinalco, on Friday.     The company announced a cooperative venture with BHP Billiton, which would pay Rio Tinto 5.8 billion U.S. dollars to set up a joint venture to run the iron ore resources of both companies in west Australia.     It was "something other than economic concern", said Zhang Yansheng, director of the Institute of Foreign Trade of the National Development and Reform Commission.     Almost half of China's iron ore needed to be imported, more than half of which was imported from Rio Tinto and BHP Billiton, according to Shan of CISA.     Colin Barnett, premier of Western Australia, told Australian media last Friday China was not on the list of approvals that the two companies needed to obtain.     Internationally they would need the approval of the European Union and possibly the U.S. Justice Department, apart from investigations at nation and state level, he said.     Also, Zhang Junsheng, director of the WTO Research Institute at the University of International Business and Economics in Beijing, said China might not have a say on the issue, as neither Rio Tintoor BHP Billiton had an affiliated company in China.

TAIPEI, May 5 (Xinhua) -- Former Taiwan leader Chen Shui-bian has been indicted on new corruption charges, prosecutors said here Tuesday.     While in office, Chen and his wife Wu Shu-chen took 10 million New Taiwan dollars (302,000 U.S. dollars) in bribes from a local businesswoman, and demanded bribes and donations totaling 300 million New Taiwan dollars from a former banker, prosecutors said at a press conference.     Chen was first indicted on Dec. 12 for money laundering and bribery. He and his wife were charged with embezzling 104 million New Taiwan dollars (3.15 million U.S. dollars) in public funds and accepting bribes of at least 9 million U.S. dollars in a land purchase deal. Chen and his collaborators are also accused of laundering the illegal income.     Chen has been in detention since last December and faces life in prison if convicted.     He was elected to the post of Taiwan leader eight years ago but was ousted in an election in May last year.

BEIJING, May 1 (Xinhua) -- On the occasion of the International Labor Day on Friday, Chinese Premier Wen Jiabao visited workers at a metro construction site in Beijing, extending festival greetings and encouraging them to "strengthen confidence to overcome difficulties brought about by the financial crisis and the influenza epidemic."     Wen told the workers that this year is a very difficult one for China as the country is hit hard by a global financial crisis. Chinese Premier Wen Jiabao (2nd L) talks with workers as he visits a construction site of Beijing subway in Beijing, capital of China, May 1, 2009. Wen expressed his best regards to the workers here.He added the recent outbreak of H1N1 influenza epidemic (swine flu) in some countries has affected China's economic and social development.     The premier said any difficulty can be overcome as long as people have firm confidence and there is strong leadership of the Chinese Communist Party and the government. Chinese Premier Wen Jiabao (2nd R) trims vegetables with a canteen worker as he visits a construction site of Beijing subway in Beijing, capital of China, May 1, 2009. Wen expressed his best regards to the workers hereArriving at the construction site of the metro route No.9 along the capital's southern fourth-ring road, Wen wished workers festival happiness and encouraged them to "care and help each other like brothers." Part of the north-south metro line is due to open within this year.     "How long have you been in Beijing?" Wen asked one of the migrant workers.     "Ten years," the worker replied.     "Then you've already a Beijinger," Wen said.     While visiting the construction site, Wen asked detailed questions about the metro construction progress.     "Have your family come to Beijing for the festival?" the premier asked a worker Hui Youquan who was busy setting up a reinforcing steel and spar frame on top of the metro station.     Hui said his family is still at hometown.     Wen told the workers Beijing citizens would be grateful to them for the comfortable subway. He also worked with workers on the spar frame.     He said migrant workers have made great contribution to the country's industrialization and urbanization.     "You have already become a main force of China's working class," Wen said, extending his "gratitude and respect."     The premier said the Party and government have adopted a series of measures to improve migrant workers' working and living conditions, including strengthening their training, establishing a comprehensive social security system and paying great attention to their work safety.     A comprehensive mechanism covering work injury, medical care and pension are being established, he said, adding that safety monitoring devices have been installed on construction sites.     While helping some female workers to trim vegetables, Wen inquired about their working and living conditions.     Entering a canteen, he asked chefs to pay attention to food hygiene and ensure workers to have tasty meals.     Wen felt satisfied when he learned that workers could watch television, read newspapers and magazines and even practise handwriting in their spare time

BEIJING, May 1 (Xinhua) -- On the occasion of the International Labor Day on Friday, Chinese Premier Wen Jiabao visited workers at a metro construction site in Beijing, extending festival greetings and encouraging them to "strengthen confidence to overcome difficulties brought about by the financial crisis and the influenza epidemic."     Wen told the workers that this year is a very difficult one for China as the country is hit hard by a global financial crisis. Chinese Premier Wen Jiabao (2nd L) talks with workers as he visits a construction site of Beijing subway in Beijing, capital of China, May 1, 2009. Wen expressed his best regards to the workers here.He added the recent outbreak of H1N1 influenza epidemic (swine flu) in some countries has affected China's economic and social development.     The premier said any difficulty can be overcome as long as people have firm confidence and there is strong leadership of the Chinese Communist Party and the government. Chinese Premier Wen Jiabao (2nd R) trims vegetables with a canteen worker as he visits a construction site of Beijing subway in Beijing, capital of China, May 1, 2009. Wen expressed his best regards to the workers hereArriving at the construction site of the metro route No.9 along the capital's southern fourth-ring road, Wen wished workers festival happiness and encouraged them to "care and help each other like brothers." Part of the north-south metro line is due to open within this year.     "How long have you been in Beijing?" Wen asked one of the migrant workers.     "Ten years," the worker replied.     "Then you've already a Beijinger," Wen said.     While visiting the construction site, Wen asked detailed questions about the metro construction progress.     "Have your family come to Beijing for the festival?" the premier asked a worker Hui Youquan who was busy setting up a reinforcing steel and spar frame on top of the metro station.     Hui said his family is still at hometown.     Wen told the workers Beijing citizens would be grateful to them for the comfortable subway. He also worked with workers on the spar frame.     He said migrant workers have made great contribution to the country's industrialization and urbanization.     "You have already become a main force of China's working class," Wen said, extending his "gratitude and respect."     The premier said the Party and government have adopted a series of measures to improve migrant workers' working and living conditions, including strengthening their training, establishing a comprehensive social security system and paying great attention to their work safety.     A comprehensive mechanism covering work injury, medical care and pension are being established, he said, adding that safety monitoring devices have been installed on construction sites.     While helping some female workers to trim vegetables, Wen inquired about their working and living conditions.     Entering a canteen, he asked chefs to pay attention to food hygiene and ensure workers to have tasty meals.     Wen felt satisfied when he learned that workers could watch television, read newspapers and magazines and even practise handwriting in their spare time

BEIJING, May 17 -- Shanghai will step up efforts to lure more talent, beef up development of its legal system and improve its credit database as part of efforts to develop a global financial center, Vice Mayor Tu Guangshao said Saturday.    The city will also enable financial markets and institutions to play an important role in financial innovation and make the Pudong New Area a pioneer for financial reforms, Tu told the Lujiazui Forum in Shanghai.     "To realize our goals, we need a combination of forces," said Tu. "We need guidance and support from the central government in terms of rules' drafting and coordination. We also need financial markets and companies to make contributions." From left: Xu Xiaonian, professor of CEIBS, Hu Zuliu, chairman of Goldman Sachs China, Xie Guozhong, board member of Rosetta Stone Advisors, Ha Jiming, chief economist of China International Capital Corp and Wang Qing, chief economist of Morgan Stanley China discuss issues at the Lujiazui Forum Saturday    Shanghai must have "breakthrough and innovation" in its measures to attract financial talents, the most important element in building the city into an international financial hub, Tu said.     The city should also have a solid financial legal system and the municipal government is working to improve the arbitrary, hearing and verdict processes of financial cases, according to Tu.     He added that local government will cooperate with the People's Bank of China to improve the city's credit environment. One focus will be the establishment of a credit ratings system for small- and medium-sized enterprises to facilitate fundraising, Tu said.     Xu Lin, Party Secretary of Pudong New Area, told the forum the district will shore up its preparation for financial innovation, including establishing an over-the-counter equity exchange for start-up technology firms.     Pudong will also trial programs to settle cross-border trade using the yuan and to set up consumer finance companies to fund people's purchases of durables such as home appliances and electronics.     Xu also noted that Pudong will fast track the development of financial services for the shipping industry as China pursues building Shanghai into an international financial and shipping hub by 2020.     "The district will encourage capital from various sources to help innovation and upgrade industry," Xu said. "More credit support will be given to small companies in terms of innovation."     Financial experts attending the two-day Lujiazui Forum, which ended Saturday, called on the city to take more measures to retain talent and financial institutions.     "The major European and US markets are reshuffling after the crisis and it has created a good opportunity for Shanghai to lay a sound basis and infrastructure for rising as an international financial center," said Laura Cha, deputy chairman of the Hongkong and Shanghai Banking Corp.     "We should learn lessons from them and avoid the mistakes they have made."     Shanghai is still lagging behind in terms of financial talent both in quality and quantity, she added.     She suggested shoring up the city's financial high education sector and rotating financial talents to develop more overseas experience.