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BEIJING, July 3 (Xinhua) -- A senior Chinese diplomat on Thursday urged developed and developing countries to work on common policies and cooperation to address the global challenges such as climate change and food security.     "China values dialogue between the Group of Eight (G8) and developing countries", Assistant Foreign Minister Liu Jieyi said at a briefing on President Hu Jintao's attendance at the Outreach Session of the G8 Summit.     At the invitation of Japanese Prime Minister Yasuo Fukuda, Hu will attend the Outreach Session of the G8 Summit in Japan from July 7 to 9.     The G8, comprising the United States, Britain, Germany, Canada, France, Italy, Japan and Russia, holds a summit each year.     Liu said the issues to be discussed would be "important" and "urgent", and he hoped the meeting would promote the dialogue between South and North, step up multilateral cooperation to resolve global issues and ensure lasting peace and common prosperity. A briefing on President Hu Jintao's attendance at the Outreach Session of the G8 Summit is held in Beijing, July 3, 2008    Liu said China had been cementing dialogue and exchanges with the G8, citing the fact that Hu had participated in the past four dialogues among leaders of the G8 countries and developing countries.     China was involved in the ministerial meetings between G8 and developing countries focusing on finance, environment, development, science and technology, and energy, Liu added.     Hu would participate in a joint meeting with leaders from India, Brazil, South Africa and Mexico, attend in a summit of G8 countries and five developing countries, and take part in a meeting of leaders from the major economic powers to discuss energy security and climate change.     "President Hu will also attend a working lunch to discuss issues of common concern such as the world economic situation, food security and development", Liu said.

BEIJING, Sept. 5 (Xinhua) -- Chinese equities tumbled on Friday following a heavy slump overnight on Wall Street as concerns about the U.S. economic slump worsened.     The Shanghai Composite Index sank 3.29 percent, or 74.97 points, to 2,202.45. The key index has declined more than 58 percent this year and more than 63 percent from its peak in October.     In Shenzhen, the market fell 2.8 percent, or 209.4 points, to 7,264.2. Aggregate turnover expanded to 42.55 billion yuan (6.22 billion U.S. dollars) from 38.99 billion yuan on the previous trading day.     Losses outnumbered gains by 827-47 in Shanghai and 702-32 in Shenzhen.     Wall Street fell on Thursday with the Dow Jones down more than 340 points as disappointing jobless and retail data left investors doubtful of a U.S. economy recovery. The downturn partly contributed to a fall in China equities, analysts said.     Tracking the Wall Street loss, both the Hong Kong and Tokyo exchanges plunged more than 2 percent on Friday. A resident walks past an electronic board showing the fall of Hang Sang index in Hong Kong, south China, Sept. 5, 2008. Hong Kong's benchmark Hang Seng Index closed at 19,933.28 points Friday, breaching the key psychological supporting mark of 20,000The key Shanghai index fell through the 2,245 points, which was labeled as a psychological mark by analysts. The mark was the peak of the market's last bullish period that ended in 2001.     The breach increased market panic and the weak sentiment would remain until the authority could come up with detailed market-boosting measures instead of just vague market talks, a Shanghai Shiji Investment Consultant Company analyst said.     Continuous retreats in the world crude oil price and other commodities heightened worries that a global slowdown would cut demand and would dent corporate profits, analysts said.     Crude oil for October delivery dropped 1.46 U.S. dollars overnight to 107.89 U.S. dollars per barrel on the New York Mercantile Exchange, falling for a fifth straight day to a five-month low.     In response, China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil explorer, fell 4.24 percent to 13.76 yuan. China Shenhua, the country's top coal producer, shed 3.16 percent to 24.54 yuan and Yanzhou Coal Mining Company lost 4.29 percent to 12.71 yuan.     Investor confidence was also dampened by news of China Merchants Securities plan to launch an initial public offering (IPO), Guosen Securities senior analyst Tang Xiaosheng said.     Brokerage shares declined across the board. CITIC Securities sank 3.18 percent to 18.56 yuan, Guojin Securities slumped 7.3 percent to 27.94 yuan, while Hongyuan Securities lost 4.79 percent to 13.92 yuan.     China Merchants Securities Co. Ltd. said in a prospectus released late on Thursday that it planned to issue 358.55 million A-shares on the Shanghai bourse. The application would be decided by market regulators on Monday.     If approved, it would become the second domestic brokerage IPO following Everbright Securities after a five-year suspension.

BEIJING, Sept. 29 (Xinhua) -- Chinese President Hu Jintao said here Monday the successful hosting of the Beijing Olympics and Paralympics symbolizes China's capability of making more contributions to the human civilization.     Hu made the remarks at an awarding meeting for people who made outstanding contributions to the Beijing Olympics and Paralympics. Chinese President Hu Jintao shakes hands with gold medal winner Cheng Fei before the awarding meeting for people who made outstanding contributions to the Beijing Olympics and Paralympics at the Great Hall of the People in Beijing, capital of China, on Sept. 29, 2008.Wu Bangguo, chairman of the National People's Congress (NPC) Standing Committee, Premier Wen Jiabao, and other top leaders Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang also attended the meeting.     Hu said that the hosting the Olympics offered the world an opportunity to know more about China and China to know more about the world.     "We would definitely cherish and carry on the spiritual heritage from hosting the two successful Games," Hu said. The awarding meeting for people who made outstanding contributions to the Beijing Olympics and Paralympics is held at the Great Hall of the People in Beijing, capital of China, on Sept. 29, 2008.On behalf of the Chinese people and government, Hu expressed gratitude to the Olympic family, the international community and the participating countries and regions, as well as the people who made great efforts and sacrifices for the Games.     Hu thanked overseas Chinese for their support, mentioning donations for building Olympic facilities such as the National Aquatics Center, also known as the Water Cube swimming pool, and the supports to the torch relay of the Beijing Olympic Games in many countries.     "After strenuous work in the past seven years," Hu said, "China fulfilled the solemn promise to the international community that it would organize a wonderful games for the world." Representatives of prize-winning teams and organizations attend the awarding meeting for people who made outstanding contributions to the Beijing Olympics and Paralympics is held at the Great Hall of the People in Beijing, capital of China, on Sept. 29, 2008. The central authorities awarded 340 teams or organizations as well as 566 individuals for their outstanding work for the Olympics and Paralympics during the meeting held here on Monday."We achieved great success and spread the great Olympic spirit, which benefited the friendship and mutual understanding among the world people," Hu said. "We imprinted the Olympic history book with a unique Chinese stamp."     Hu asked the Chinese people to sum up the treasured experience in organizing the excellent Olympic Games and Paralympic Games and promote innovation in governance and management.     "We should further free our mind, take bolder steps in the process of reform and make more innovations," Hu said.     Hu emphasized that the success of hosting the great Olympics was achieved after a disastrous earthquake hit Sichuan Province on May 12.     "No hardship could ever stop the courageous Chinese nation," Hu said, adding that the Beijing Olympics showcased China's advantage of mobilizing collective wisdom and strength of the nation in carrying out significant missions. Representatives of Chinese athletes attend the awarding meeting for people who made outstanding contributions to the Beijing Olympics and Paralympics is held at the Great Hall of the People in Beijing, capital of China, on Sept. 29, 2008.The Olympic spirit, said Hu, would promote the Chinese people to advance their civilization, strengthen the Chinese cultural soft power, enrich their own social life and boost their morale.     The president praised all the people and organizations which had made different contributions in the latest seven years after Beijing won the bid to host the 2008 Games.     In his speech, Hu also briefly reviewed the history of Chinese Olympic participation including the first proposal to host an Olympic Games one century ago and the remarkable first gold medal achieved at Los Angeles Games in 1984.     The central authorities awarded 340 teams or organizations as well as 566 individuals for their outstanding work for the Olympics and Paralympics, including some from the more than 1.7 million volunteers for the two games.     The Olympic host country also gained unprecedented glory in sports, winning 51 gold medals.     At the awarding meeting, which was attended by more than 6,000 people, Vice President Xi Jinping read the decisions of the Communist Party of China (CPC) Central Committee and the State Council on awarding organizations and individuals for their work for the Olympics. The State Council also decided to award the Beijing Organizing Committee for the Olympic Games (BOCOG) and the Hong Kong sub committee for the Olympic equestrian competition.     BOCOG President Liu Qi, who is also secretary of the CPC Beijing Municipal Committee, representatives from athletes, volunteers, organizers, security workers and the armed forces also spoke at the meeting.     Xia Geng, mayor of the Olympic co-hosting city Qingdao, Liu Chunhong, Olympic weight-lifting gold medalist and other volunteer and organizer representatives also gave speeches at the meeting.

BEIJING, April 15 (Xinhua) -- Chinese Premier Wen Jiabao called for establishing a fair, open, reasonable multilateral trade system of non-discrimination in the world on Tuesday.     "We oppose protectionism in investment and trade," he said during a meeting with visiting British Finance Minister, Chancellor of the Exchequer Alistair Darling, who is attending the first China-UK economic and financial dialogue.     Wen vowed to work with Britain and other countries to push the Doha round toward a comprehensive and balanced result. Chinese Premier Wen Jiabao (R) meets with Alistair Darling, British chancellor of the exchequer and special representative of British Prime Minister Gordon Brown, in Beijing, capital of China, April 15, 2008. Alistair Darling is in Beijing to attend the first China-Britain economic and financial dialogue.    He said the international community was facing increasing opportunities and challenges as economic globalization developed.     Both China and Britain were influential countries and should strengthen their dialogue based on mutual respect, equality, and reciprocity so as to expand common ground and overcome disputes, he added.     Wen hoped China and Britain would take the economic and financial dialogue as a platform to promote mutual understanding and cooperation.     Darling, visiting China as British Prime Minister Gordon Brown's special representative, said Britain viewed relations with China from a long-term perspective.     He said Britain would like to promote dialogue with China on handling issues like economy, finance, and the environment.     He said protectionism on trade was wrong, adding that Britain supported recognizing China's complete market economy status and opposed measures boycotting Chinese commodities.     Darling arrived in Beijing on Monday afternoon. He met with Vice-Premier Wang Qishan early Tuesday.

BEIJING, July 7 -- Chinese state-owned banks, including Industrial & Commercial Bank of China, intend to boost the contribution of the credit card business to their profits as they tap the rising demand to use plastic to pay for purchases.     ICBC, the country's biggest lender, expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million now, Li Weiping, president of the Beijing-based bank's card center, told Shanghai Daily on Saturday in Shanghai. Industrial & Commercial Bank of China Ltd expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million nowThe country's biggest bank, which had earlier planned to boost card number to between 35 million and 38 million, expects to achieve the target, going by the pace of its card issuance in the first half, Li said. The credit card business accounts for about 10 percent of the bank's intermediary business, or fee-based income, and is one of the main contributors.     Chinese banks are shifting from its traditional deposit-lending business as they expand their profit avenues.     ''We expect the contribution (of credit cards to profit) to grow by 2 to 3 percentage points annually,'' Li said.     ICBC is among the country's "big four" state-owned banks to speed up the credit card business while their smaller joint stock rivals have already an edge in the market.     China Merchants Bank, the sixth biggest lender on the Chinese mainland, has one-third share of the credit card market. Other state-owned banks, including Agricultural Bank of China, said they are seeking growth as they pursue prudent risk control.     China Construction Bank expects to break even on its credit card business next year, said Wu Huitao, deputy general manager of the bank's credit card center. CCB targets card numbers at 20 million at the end of this year, from 16 million now, Wu said.     Credit cards will be the most important consumer credit product after mortgages, with profit forecast to reach US.6 billion by 2013, accounting for 22 percent of total consumer credit profits, said New York-based McKinsey & Co.