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CANBERRA, May 14 (Xinhua) -- Visiting General Guo Boxiong, Vice- Chairmen of China's Central Military Commission met the Australian Chief of the Defense Force Air Chief Marshall Angus Houston on Friday.Guo said China and Australia have extensive range of common interests and hold responsibilities in safeguarding regional stability and promoting common development.The two countries are important trading partners, maintaining good dialogues and consultation in responding to international financial crisis, climate change and other major issues such as the Asia-Pacific regional cooperation, he added.According to Guo, defense and military relations between China and Australia in recent years are more matured, more dynamic and the cooperation has great potential and bright prospects for development.In order to better response to the diversity of regional and global challenges, the two sides need to further strengthen communication, enhance mutual trust, consolidate the basis of mutually beneficial cooperation, the Chinese General said.Houston said that together with the increasing national strength, China will play a greater role in global and regional affairs. Australia hopes to strengthen cooperation with China in communication and cooperation, jointly safeguarding regional peace and stability.He said that meanwhile, the Australian government is satisfied with the current bilateral defense and military relations.Guo arrived on Tuesday in Australia for an official visit, and held talks with Australian Defense Minister John Faulkner and met with Australian Foreign Minister Stephen Smith.

BOAO, Hainan, April 10 (Xinhua) -- The Boao Forum for Asia (BFA) Annual Conference 2010 officially opened Saturday morning in Boao in south China's Hainan Province, with a focus on Asia's sustainable recovery from the economic downturn.Chinese Vice President Xi Jinping attends the opening ceremony and will soon deliver a keynote speech.Long Yongtu, BFA's secretary-general, said the world economy still faces huge challenges despite strong signs of recovery. Delegates attend the opening plenary of Boao Forum for Asia(BFA)Annual Conference 2010 in Boao,a scenic town in south China's Hainan Province,April 10 0,2010.The BFA Annual Conference 2010 with the theme"Green Recovery:Asia's Realistic Choice for Sustainable Growth h"officially opened here Saturday.The biggest challenge is to ensure quality, efficient and green growth rather than to have only strong economic data, Long said at the opening ceremony.Fidel Ramos, former Filipino president and chairman of BFA's board of directors, said all Asian nations should explore different ways on the way to recovery to ensure sustainable growth.

BEIJING, April 13 (Xinhua) -- The State Council, China's Cabinet, released here Tuesday new regulations on overseas investment, promising good business conditions but restricting funds to environmentally unsound projects.According to the new regulations, China still welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection, but polluting and energy-gorging or projects in industries running at overcapacity are not wanted.According to the regulations, the State Council said China will continue to support Chinese A-share listed companies in further introducing strategic investors from home and abroad, and standardize foreign companies' investment in domestic securities and corporate merger and acquisition moves.A national security examination mechanism will be built as soon as possible for foreign-funded companies' merger and acquisition operation in China, according to the regulations.Qualified foreign-funded companies are allowed to go public, issue corporate bonds or medium-term bills in China.Multinationals are encouraged by the regulations to set up regional headquarters, research and development centers, procurement hubs, financial management and other functional offices in China.Importing items for scientific and technological development by qualified foreign-funded R&D centers will be exempt from tariffs, importing value added tax and goods and services tax by the end of 2010, according to the regulations.Foreign-funded enterprises are also encouraged to increase their investment in China's central and western regions, particularly in environment friendly and labor-intensive companies.

BEIJING, April 12 -- As the country begins to phase out obsolete production methods in an economic restructuring drive, industries with overcapacity are likely to face even tougher financing terms this year.In response to the government call to curb excessive capacity, the banking regulator earlier this year asked lenders to maintain strict controls on loans flowing into industries including steel, cement, plate glass, shipbuilding, electrolytic aluminum, the chemical processing of coal and polysilicon.Liu Mingkang, chairman of the China Banking Regulatory Commission, said that commercial lenders should readjust their credit structures to support the country's industrial upgrading and restructuring drive."Loans to industries with overcapacity were growing at a significantly lower pace last year compared with that of the overall credit expansion," he said. Given that the country was considering an exit from the loose monetary policy implemented to counter the financial crisis last year, analysts said credit avenues for industries listed on the government "blacklist" were set to be limited. The Chinese government is targeted to give out 7.5 trillion yuan in new loans this year, lower than the record 9.59 trillion yuan lent in 2009.Indeed, industries with excessive capacity have not benefited from the lending binge last year, as commercial lenders' loans to such industries continued to drop. China Construction Bank (CCB), the nation's second largest lender, said its loans to industries with overcapacity accounted for 12.8 percent of the bank's total outstanding loans as of the end of last year, down from 15.7 percent a year earlier."We've decided to gradually exit from lending to industries with excessive capacity, and will only support leading enterprises in these industries and projects approved by the government," said CCB Vice-President Chen Zuofu.Bank of China, the most aggressive in pushing out credit among Chinese lenders last year, said outstanding loans for overcapacity industries declined to 219 billion yuan as of the end of last year, and account for 7 percent of the bank's total corporate loans.

DAR ES SALAAM, May 5 (Xinhua) -- "China-Africa new strategic partnership has currently reached a new level, however there is still a necessity for the partnership to be expanded and strengthened as the situation is developing," Liu Guijin, special envoy of the Chinese government on African affairs, told Xinhua here on Wednesday ahead of the plenary session of the 20th World Economic Forum on Africa.Liu said that the "eight new measures" announced by Chinese Premier Wen Jiabao at the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) held in the Egypt in November pointed out the favorable direction in the next three years to enhance China-Africa cooperation."First, expand the current China-Africa economic and trade cooperation, which has achieved great progress in recent years. The bilateral trade volume surpassed 106.8 billion U.S. dollars in 2008. However, it decreased a little by 14 percent to more than 90 billion dollars in 2009 due to the negative effect of the international financial crisis, " Liu said.The Chinese diplomat also noted that the key sector to expand and strengthen China-Africa new strategic partnership lies on investment as the African continent lacks of funds for infrastructure, adding that Chinese companies made a lot of investment on Africa's infrastructure and the Chinese government is committed to continually supporting infrastructure construction in Africa for its development.Liu also called for further enhancing political mutual trust between China and Africa, hailing the China-Africa Joint Research and Exchange Program included in the "eight new measures" to enhance China-Africa cooperation, which enables the African and Chinese scholars and nongovernmental organizations among others to make more research on China-Africa relations to promote the mutual understanding of governments and peoples of both sides.