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BEIJING, Nov. 28 (Xinhua) -- China on Sunday proposed emergency consultations among the heads of delegation to the Six-Party Talks next month as tensions rise on the Korean Peninsula."The Chinese side, after careful deliberation, proposes emergency consultations among the heads of delegation to the Six-Party Talks in early December in Beijing to exchange views on major issues of concern to the parties at present," said Wu Dawei, Chinese special representative for the Korean Peninsula affairs.It is China's latest move with regard to tensions on the peninsula, following the exchange of artillery fire Tuesday between the Republic of Korea (ROK) and the Democratic People's Republic of Korea (DPRK).The ROK and the United States on Sunday launched a four-day joint naval drill in waters west of the divided Korean Peninsula, the U.S. aircraft carrier USS George Washington joined the drill.A statement from the U.S. Forces Korea (USFK) said it "demonstrates the strength" of the alliance between Seoul and Washington and their "commitment to regional stability through deterrence."But the DPRK on Sunday blasted the ROK-U.S. joint exercises, saying they were bringing war to the Korean Peninsula.China has repeatedly called for calm and restraint, urging the resumption of the stalled Six-Party Talks among China, the DPRK, the United States, the ROK, Russia and Japan.Wu told a press conference the consultations would aim to properly address the situation on the Korean Peninsula and were in accordance with the Joint Statement of the Six-Party Talks issued on Sept. 19, 2005.

BEIJING, Dec. 25 (Xinhua) --The presidium of the 11th Chinese People's Political Consultative Conference (CPPCC) National Committee held a meeting here on Saturday to discuss preparations for the upcoming Fourth Plenary Session of the 11th CPPCC National Committee, which is scheduled to open on March 3.The meeting was presided over by Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau.The meeting examined and approved the agenda of the 12th session of the Standing Committee of the 11th CPPCC National Committee, which is scheduled to run from February 26 to February 28 next year in Beijing.Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), presides over the 33rd meeting of chairpersons of the 11th CPPCC National Committee in Beijing, capital of China, Dec. 24, 2010.The meeting also examined and approved a draft name list for the secretariat of the Fourth Plenary Session of the 11th CPPCC National Committee and a decision to convene the Session.Zhao Qizheng has been appointed the spokesman for the Fourth Plenary Session of the 11th CPPCC National Committee.

BEIJING, Dec. 22 (Xinhua) -- China unveiled a new asset-management company that aims to restructure and merge small, uncompetitive state-owned enterprises (SOEs) on Wednesday.The new firm, China Reform Holdings Corporation Ltd., will focus on "reorganizing small-sized SOEs which do not affect national security and are not crucial to the national economy," the State-owned Assets Supervision and Administration Commission (SASAC), the SOE watchdog, said in a statement.The first-phase registered capital of the new company, which is wholly owned by SASAC, is 4.5 billion yuan (681 million U.S. dollars). SASAC has not yet revealed which companies will be involved in the reshuffling.Xie Qihua, former chairman of the Baosteel Group Corporation, China's largest steel maker, has been appointed board chairman of the new company.Liu Dongsheng, an SASAC official, will act as general manager, it said."The launch of the new company marks an important move to optimize the relocation of state economic resources and to give state capital more vitality, control and impact on key sectors," Wang Yong, deputy director of SASAC, said at the launching ceremony.He noted because the assets of the reshuffled companies took up a considerable amount of the entire state assets, the restructuring plays an active role in improving asset quality.According to SASAC' s plan, the company will participate in the share-holding reform of the reshuffled enterprises, and will also invest in emerging industries with strategic importance.Also at the launching ceremony, Wang stressed that the company is an asset management company rather than an investment group, ending rumors that it will become China's second sovereign fund after the China Investment Corporation (CIC).He noted the new company's mission is explorative and challenging, which needs to deal with it in a proactive and cautious way.In order to enhance the state company's efficiency and competitiveness, SASAC cut the number of SOEs under its direct control from 196 to 122 over the last seven years. They are expected to be further consolidated into around 100 by the end of 2010, according to SASAC plans.However, SASAC officials said it remains difficult to meet the target in time."It takes time to meet the goal," said Shao Ning, deputy director of SASAC. He added that the restructuring should take place when the time is right, and should give priority to "quality" and "good results" to ensure stability of the enterprises.In order to help the uncompetitive companies withdraw from the market in a stable manner, SASAC promised to offer support for the employers in those companies.Zhou Fangsheng, an expert on SOE issues, said it is good news for the uncompetitive SOEs to be merged into the new company with their debt relieved.But it is still quite explorative, he added.The new company is the third oversight asset management company by SASAC, besides the China Chengtong Group and the State Development & Investment Corp.Shao Ning told Xinhua that the previous two companies have their own business scope, besides dealing with non-performing assets. But the new company will only focus on asset management.Profits of China' s SOEs rose by 43 percent year on year to hit 1.81 trillion yuan (271.92 billion U.S. dollars) in the first 11 months, according to the figures released by the Ministry of Finance on Dec. 17.However, profits were concentrated in a small number of companies, such as oil producers and refiners, telecom operators and power companies which enjoy monopolies and easy bank loans.Companies in the traditional sectors, such as textiles and light industries, reported meager profits.A stronger presence of the monopolistic SOEs aroused complaints by the nation's private businesses, which had no easy access to bank credit but provided more than 80 percent of the job opportunities in the nation.China's SOEs include SOEs directly controlled by the central government and SOEs supervised by local governments, but excludes state-owned financial enterprises.

BEIJING, Dec. 31 (Xinhua) -- A revised version of China's Regulation on Work-Related Injury Insurance will take effect Saturday, raising compensation standards while expanding the coverage to more organizations.The previous regulation stipulated that the compensation to families of workers who die on the posts is no more than five times the average annual salary in the previous year. The sum varies depending on the regions where the workers are working.Under the current system, the national average compensation is about 100,000 yuan, but the lowest regional average compensation is about 40,000 yuan.The new regulation raises the compensation to 20 times the national annual disposable income for urbanites per capita in the previous year, which means about 340,000 yuan according to 2009 statistics.In addition, the revised regulation covers the country's public institutions, social groups, non-profit grass-root organizations, foundations, law firms and accounting firms.Previously, the rules only include enterprises and small businesses and their employees in the system.

BEIJING, Dec.1 (Xinhua) -- Chinese President Hu Jintao received credentials from the ambassadors of seven countries to Beijing Wednesday. Hu met with the new foreign envoys in a ceremony at the Great Hall of the People in Beijing. The envoys were:-- Guyanese Ambassador David Dabydeen who arrived on July 8;-- Danish Ambassador Friis Arne Petersen, who arrived on Aug. 22; -- Costa Rican Ambassador Marco Vinicio Ruiz who arrived on Aug. 28; -- Swedish Ambassador Lars Freden who arrived on Sept. 1;-- South African Ambassador Bheki Winston Joshua Langa who arrived on Sept. 7; -- Tunisian Ambassador Mohamed Adel Smaoui who arrived on Sept. 16; -- and Palestinian Ambassador Ahmad A. M. Ramadan who arrived on Oct. 12. Enditem