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BEIJING, Oct. 11 (Xinhua) -- China on Monday vowed to continue its financial support to reconstruction projects in areas ravaged by the major Wenchuan earthquake in 2008, promising lower rates on loans and demanding an easier deposit reserve requirement ratio from banks in the regions.The new pledge came in a joint statement on the website of the People's Bank of China, or the central bank, which announced the continued financial support along with the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission.Banks in the quake-hit areas should continue to provide financial support and services to reconstruction projects in the regions, as post-earthquake reconstruction is still in a critical period, the statement said.The magnitude-8.0 quake, with its epicenter in Wenchuan in southwest China's Sichuan Province, left more than 87,000 people dead or missing and more than 374,640 injured. Millions of houses were also flattened during the major quake."We should keep the continuity and stability of our financial support to the regions and make our financial services better targeted and more effective," it said.According to the statement, local banks in the quake-hit areas will continue to enjoy a lower deposit reserve requirement ratio, compared with elsewhere, until June 30, 2011, and such banks will also be exempt from any hike of the reserve requirement ratio during this period.The statement ordered local bank branches in the quake-hit areas to provide prioritized financial services to projects in fields of infrastructure facilities, agriculture, medium and small enterprises, as well as ecological and environmental protection in the region.China's central bank and banking, securities and insurance regulators encourage eligible companies in the quake-hit regions to widen their finance channels through inter-bank short-term bond issuances, bills and other financial instruments, according to the statement.Also, local banks' preferential policies on loans to home reconstruction would remain unchanged in the quake-hit regions, it said.However, loans to projects with high consumption of energy and heavy pollution must be strictly controlled in a bid to facilitate energy-savings and reduce carbon dioxide emissions in the region, according to the statement.Chinese lenders had extended 172.4 billion yuan (25.35 billion U.S. dollars) loans for relief and reconstruction in regions devastated in the earthquake by the end of the first quarter, according to the central bank's figures released in May this year.Outstanding loans at banks in quake-hit provinces, including Sichuan, Shaanxi and Gansu, surged 34 percent year on year to 2.29 trillion yuan at the end of March.

BEIJING, Nov. 2 (Xinhua) -- Chinese companies' overseas investment rose 10.4 percent year on year in the first nine months even as global investment as a whole dropped sharply over the period, a senior Chinese official said Tuesday.Chinese companies invested 36.3 billion U.S. dollars overseas in the first three quarters, excluding investments in financial sectors, as other other companies, hit by the global downturn, reduced overseas investment, Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, China's top economic planning agency, said at the opening of the 2nd China Overseas Investment Fair in Beijing.China has emerged as a major source of foreign direct investment (FDI) outflows.Although global FDI outflows dropped 40 percent year on year in 2009, China's overseas investments rose 14.2 percent year on year to 47.8 billion U.S. dollars, said Zhang.By the end of 2009, more than 12,000 Chinese firms had set up 13,000 overseas enterprises in 170 countries and regions, he said.The National Development and Reform Commission approved the two-day Second China Overseas Investment Fair, which the China Industrial Overseas Development and Planning Association (CIODPA) and China Development Bank are co-hosting.Representatives of government, multinational companies, international organizations and financial institutions from more than 120 countries gathered at the trade fair to persuade Chinese investors to invest overseas.

BEIJING, Sept. 20 (Xinhua) -- Chinese Vice President Xi Jinping Monday urged the Communist Party of China (CPC) committees of the Party and government institutions to take the lead to strengthen Party building.Xi, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks during an inspection tour of the Ministry of Land and Resources.He also said those Party committees should focus on accomplishing the major tasks of the Party and government institutions.He urged the Party committees to work harder to serve the top agenda of the Party and the State, including by accelerating the transformation of the nation's economic growth model, guaranteeing and improving people's livelihoods, and promoting social harmony.

BEIJING, Oct. 22 (Xinhua) -- China and South Africa pledged Friday to step up legislative cooperation to cement the bilateral strategic partnership.The pledge came out of the meeting between Chinese President Hu Jintao and Speaker of the National Assembly of South Africa Max Sisulu in Beijing.Hu said growing China-South Africa relations require stronger collaboration between the legislatures of the two countries.Hu hoped the two legislatures could launch their regular exchange mechanism at an appropriate time and work to improve such mechanism.Sisulu said the the National Assembly of South Africa hoped to make a new contribution to boosting cooperation between the two countries.On China-South Africa relations, Hu said bilateral relations have "reaped good harvests" since the two countries forged diplomatic ties in 1998.Sisulu agreed with Hu's comments, saying China's remarkable progress contributes to world peace and development and inspires South Africa and other African countries.Also Friday, Wu Bangguo, chairman of China's National People's Congress(NPC) Standing Committee, held hour-long talks with Sisulu at the Great Hall of the People in Beijing.Wu said the NPC and the National Assembly of South Africa have a good foundation for cooperation, and urged the two legislatures to maintain exchanges at a high level.While calling for the two legislatures to work more closely in regional and international legislative organizations, Wu said a regular exchange mechanism should be launched as early as possible so as to improve ties between the legislatures of the two countries.Sisulu said the National Assembly of South Africa and the NPC of China should strengthen bilateral exchanges and seek closer cooperation in multilateral legislative organizations.As South Africa is a big country in Africa and an important emerging economy, China hopes to communicate more and coordinate with South Africa over Sino-African cooperation so as to advance China-Africa relations and South-South cooperation, Wu said.The visit to China was Sisulu's first since he was elected to the position of speaker of the National Assembly of South Africa in May 2009.Apart from Beijing, Sisulu will also visit the Three Gorges Dam, the world's largest water control project, on the middle reaches of the Yangtze River, China's longest.

BEIJING, Oct. 21 (Xinhua) -- Chinese Foreign Ministry on Thursday confirmed it had started preparations for President Hu Jintao's visit to the United States early next year, which the ministry said would be profound and far-reaching for bilateral ties."China and the United States have maintained close communications about the visit, which will be very important and will bring far-reaching influence for bilateral relations in new era," spokesman Ma Zhaoxu told a regular press briefing.Although Hu's U.S. visit had long been under discussion, it was the first time that China's foreign ministry confirmed the visit and elaborated on its significance.Ma said both China and the United States would like to see a successful visit that will boost the positive, cooperative and comprehensive China-U.S. relationship in the 21st century.At their meeting on the sidelines of the G20 summit in Toronto in June, U.S. President Barack Obama formally invited Hu to pay a state visit to the United States early next year. Hu accepted the invitation, Ma said.The visit will be Hu's first state visit to the United States since the Obama administration took office.His last state visit to the United States took place in April 2006."We agreed that we will work together to achieve tangible results in anticipation of the visit of President Hu to Washington in January 2011," U.S. Attorney General Eric Holder said in Beijing Thursday.Chinese analysts said the visit would be significant because it is expected to help address current issues and chart a path for the long-term bilateral ties."At such a crucial moment, Hu's visit will help reshape the China-U.S. ties in future," said Yuan Peng, a scholar of the China Institute of Contemporary International Relations.Relations between the two countries had stumbled earlier this year over issues ranging from U.S. arms sales to Taiwan to China's currency exchange rate, said Qin Yaqing, deputy director of Chinese Foreign Affairs University."It is impossible for two presidents' meeting to iron out all the differences, but the meeting will enable presidents to elaborate on their stances for better mutual understanding," Qin said.The past has proved that high-level visits could play a unique role in boosting China-U.S. relations, Yuan said. "It always worked the things out at the critical time."Yuan said Hu's visit was aimed at bringing the damaged China-U.S. relations back on "healthy and stable" track."In months ahead of Hu's visit, the United States should be reasonable in dealing with issues like trade and economy and refrain from measures undermining bilateral ties," said Shi Yinhong, a professor of China's Renmin University.Before their meeting in Washington next year, Hu and Obama are scheduled to meet on the sidelines of the G20 summit and Asia-Pacific Economic Cooperation(APEC) leaders' gathering in November.