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SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company.     The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai.     The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company.     The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects.     Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies."     The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company.     The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent.     Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.

BEIJING, Nov. 25 (Xinhua) -- China has told its enterprises to be prepared for competitions while the establishment of the Free Trade Area between the country and the Association of Southeast Asian Nations (ASEAN) is only a month ahead.     "Chinese enterprises should make full preparations for competitions brought by zero-tariff products imports from the ASEAN," Xu Ningning, executive secretary general of China-ASEAN Business Council(CABC), said on Wednesday at a symposium for entrepreneurs in machinery, auto mobile and steel sectors.     The upcoming FTA, scheduled to be established on Jan. 1, allows zero-tariff on 90 percent of products traded between China and the ASEAN.     Xu also urged Chinese enterprises to conduct adequate market research and pay close attention to the latest policies in different ASEAN countries to improve the quality and efficiency of bilateral trade.     "After entering the ASEAN market, companies should abide by local industry regulations and establish sound reputations for quality and service instead of blindly pursuing profit by any possible means," Xu said.     The establishment of the FTA will create massive business opportunities for Chinese enterprises as it will provide an access to the ASEAN market with 600 million population, according to Xu.     The FTA will boast a combined population of 1.9 billion and a combined gross domestic product (GDP) close to 6 trillion U.S. dollars, making it the third largest free trade area following the North American Free Trade Area and the European Free Trade Area.     CABC is one of the five main cooperation and dialogue organizations between China and the ASEAN, and it consists of the China Council for the Promotion of International Trade, the ASEAN Chambers of Commerce and Industry, the national business leaders and enterprises and experts representatives from the ASEAN countries.

BEIJING, Dec. 31 (Xinhua) -- Chinese President Hu Jintao urged maintaining steady and relatively fast economic development in a New Year address broadcast Thursday to domestic and overseas audience via state TV and radio stations.     He said in 2009, in the face of global financial crisis, Chinese people of all ethnic groups united together and firmly adhered to maintaining steady and relatively fast economic development as the primary task in economic work.     "People's life continued to improve and the society was kept harmonious and stable," said Hu in the address, titled "Jointly Create A Beautiful Future of World Peace and Development," broadcast by China Radio International, China Central Television, and China National Radio..     Hu said that the year 2010 is the last year of the country's 11th Five-Year Plan period and the country will continue to implement a proactive fiscal policy and a moderately easy monetary policy. Chinese President Hu Jintao delivers a New Year address titled "Jointly Create a Better Future for World Peace and Development" which is broadcasted to domestic and overseas audiences via state TV and radio stations, in Beijing, capital of China, Dec. 31, 2009    Hu added that the country will stick to the guidelines of "one country, two systems", "Hong Kong people governing Hong Kong", "Macao people governing Macao" and a high degree of autonomy to maintain long-term prosperity and stability of Hong Kong and Macao.     He said the policy of "peaceful reunification and one country, two systems" will be adhered to and exchanges and cooperation across the Taiwan Strait will be enhanced to bring more benefits to people on both sides.     "I'd like to solemnly reiterate that China will hold high the flag of peace, development and cooperation and firmly adhere to the foreign policy of maintaining world peace and promoting common development," Hu said.     He said China will develop friendly cooperation with all other countries on the basis of the five principles of co-existence and continue to actively participate in international cooperation on issues such as coping with the international financial crisis and climate change.     "We will work with people of all countries to jointly promote the construction of a harmonious world of lasting peace and common prosperity," said Hu.     He said at this moment, there are still people in the world who are suffering from war, poverty, disease and natural calamities. The Chinese people are deeply sympathetic and will continue to do all they can to help them.     An article by Hu on Party building in a new situation will be published in Qiu Shi (Seeking Truth), an official magazine of the Communist Party of China Central Committee, on Jan. 1, 2010.

BEIJING, Dec. 30 (Xinhua) -- World media reports have praised China's efforts in promoting international cooperation to combat climate change and its contribution to a substantive result at the U.N. Climate Change Conference in Copenhagen.     The per capita carbon emission in China is far lower than that in Western countries, the state media from different countries, including India, Pakistan, Indonesia, Central Africa Republic and Malawi, said recently.     Acknowledging that China was facing a heavy task of development, they said that China's demand for due right to development was justifiable and reasonable.     Alongside economic development, China has increased spending on combating climate change, greatly encouraged science and technology, and become a world leader in the use of green energy, they said.     During the Copenhagen Conference, China made all efforts to communicate and negotiate with other countries. It especially brought together developing nations to jointly safeguard their common interests and made a remarkable contribution to a substantive result of the conference, they said.     Meanwhile, media in small island states, including Antigua and Barbuda, Fiji and Papua New Guinea, also spoke highly of China's responsible attitude and forceful measures on tackling climate change, saying China's effort could match that of any developed countries.     They said that some countries' criticism of China on the issue was groundless and irresponsible.     The words were echoed by France's Le Figaro magazine, which said in an editorial that the environment issue cannot be solved without considering the people's interests and national development.     Being a leader in such technologies as wind power, solar energy and carbon capture, China has also spared no efforts in developing nuclear energy, the magazine said.     Le Figaro in an article titled "In Defense of China," called on the international community to learn more about China.     The article said that China's development has contributed to all mankind because it lifted a great number of Chinese people out of poverty and also benefited neighboring countries and the global economy.     It is groundless to say that China did nothing to improve the environment, the article said, citing China's achievements in developing solar energy and a forestation.     The world should be confident in China's ability to combat climate change, it added.

BEIJING, Jan. 10 (Xinhua) -- Justices in China's Supreme People's Court, as well as judges in local courts, will start working side by side with anti-corruption supervisors from Monday.     On Friday, 14 full time supervisors were installed in the Supreme People's Court (SPC) to oversee judges, court-order enforcers and other court staff.     The SPC said in a statement Sunday that 24,521 anti-corruption supervisors had been in place in 2,392 courts across the country.     In local courts, the posts of anti-corruption supervisors were concurrently held by senior judges, it said.     The system was born out of the efforts "to better combat corruption and redress injustices in a timely manner," said Shen Deyong, SPC executive vice-president.     The Supreme People's court had issued a tentative measure to facilitate coordination between the internal check system and external supervision departments, said the statement.     It also said courts across China would work to optimize the system with measures such as appointing more supervisors and setting up regular exchange and appraisal systems for anti-corruption supervisors.