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WASHINGTON, April 22 (Xinhua) -- U.S. Treasury Secretary Timothy Geithner said on Tuesday that the prosperity of the American economy needs the rest of the world to recover.     "The rest of the world needs the U.S. economy and financial system to recover in order for it to revive," said Geithner in remarks to the Economic Club of Washington. "We remain at the center of global economic activity with financial and trade ties to every region of the globe."     "Just as importantly, we need the rest of the world to recover if we are to prosper again here at home," the Treasury chief said.     "Before the crisis, U.S. exports were among our economy's fastest-growing sectors, accounting for more than 6 million American jobs, or about 5 percent of total private sector employment in the U.S. Now, they are one of its fastest-shrinking," he stated.     He called for global cooperation to cope with the current crisis, which he said was "the most severe crisis in generations."     "As a consequence, the community of nations must work together -- and that work has already begun -- to revive economies around the world and to lay the groundwork for a new, more stable and more sustainable pattern of growth in the future," he said.

MOSCOW, May 14 (Xinhua) -- Wu Bangguo, China's top legislator, met with Russian Duma Chairman Boris Gryzlov on Thursday. Both leaders stressed the importance of parliamentary cooperation and the unique role it serves bilateral relations.     Wu, chairman of the Standing Committee of China's National People's Congress(NPC), hailed the bilateral parliamentary cooperation at various levels in recent years. Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.He noted that such cooperation should continue to serve the interests of bilateral ties. In particular, such cooperation should first serve the strategic mutual trust and the interests of the common concerns of China and Russia.     The NPC and the Russian Parliament should provide firm support to each other on major issues involving state sovereignty, territorial integrity, and national security, he said.     The two should also reinforce strategic cooperation in international and regional parliamentary organizations, safeguard common benefits, and create a conducive environment for the development of the two countries, Wu said. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.Wu also stressed the need for joint efforts to counter the current financial crisis. He called on the parliamentary bodies to approve bilateral cooperation deals on oil and natural gas on time.     He also urged the implementation of already-signed cooperation agreements, and for support to help Chinese and Russian enterprises find new opportunities for cooperation within each other's economic stimulus plans.     The NPC and the State Duma, the lower house of the Russian Parliament, should also be actively engaged in activities commemorating the 60th anniversary of the establishment of diplomatic ties and to broadly share the idea of friendship between the two nations, Wu said.     Gryzlov said parliamentary cooperation between Russia and China has served a significant and unique role in the fast development of bilateral ties.     Especially since the two parliaments established a regular exchange mechanism, more and more Duma legislators have been involved in promoting friendship between the two countries, he said.     The State Duma hopes to further strengthen its ties with the NPC, and to promote bilateral cooperation in areas such as politics, economy, culture, environment, anti-terrorism and anti-drug smuggling, Gryzlov said.     Wu is in Moscow for an official visit to Russia. Since arriving in Moscow on Wednesday, the legislator has met with Russian President Dmitri Medvedev and Sergei Mironov, chairman of the upper chamber of the Russian Parliament, known as the Federation Council.

BEIJING, June 2 (Xinhua) -- The China Investment Corporation (CIC), the country's sovereign wealth fund, announced Tuesday that it decided to buy 1.2 billion U.S. dollar common stocks in Morgan Stanley's 2.2-billion-U.S.-dollar common stock offering.     Morgan Stanley announced Tuesday it had priced a public offering of common equity of 2.2 billion U.S. dollars. The proceeds are intended to fully redeem the preferred capital of the Troubled Asset Relief Program (TARP) before the end of June.     The TARP is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the U.S. government's measures in 2008 to address the subprime mortgage crisis.     Morgan Stanley notified the CIC of the offering in light of its healthy business relationship with CIC and the preemptive rights CIC holds. CIC plans to participate in this offering, according toa notice on its Web site.     CIC was optimistic in Morgan Stanley's future development as "Morgan Stanley is widely expected to be able to leverage on its strengthened financial position and will be on the road of resuming its successful trajectory amid the dramatic restructuring of the international financial services industry".     On December 19, 2007, CIC purchased 5.6 billion U.S. dollars mandatory convertible securities into Morgan Stanley common stock, representing approximately 9.86 percent equity ownership in Morgan Stanley.     However, after Mitsubishi UFJ Financial Group, Inc.'s investment in Morgan Stanley in October 2008, CIC's equity ownership was diluted to approximately 7.68 percent.     This new purchase would bring CIC's equity ownership in Morgan Stanley back to approximately 9.86 percent, effectively reducing CIC's overall cost basis and increasing the returns potential, said CIC.     According to a statement posted on Morgan Stanley Web site Tuesday, it has priced a public offering of approximately 80.2 million shares of common stock to the public at 27.44 dollars per share.     CIC has agreed to purchase 44.7 million shares of common stock at the public offering price while the Mitsubishi UFJ Financial Group, Inc. has agreed to buy 16 million shares, the Morgan Stanley statement said.

BEIJING, April 24 (Xinhua) -- Senior Chinese official Jia Qinglin called on Friday Chinese anti-independence organizations to continue their unique role and make new contributions to the promotion of national peaceful reunification.     Jia made the comments in a meeting attended by representatives of overseas Chinese anti-independence organizations here.     Jia, head of the China Council for the Promotion of Peaceful National Reunification, said that anti-independence organizations had played an important role in creating favorable conditions for the peaceful development of relations between the two sides of the Taiwan Straits. Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference and director of the China Council for the Promotion of Peaceful National Reunification (CCPPR), meets with directors of CCPPR's overseas branches in Beijing, capital of China, April 24, 2009    Jia, who is also chairman of the National Committee of the Chinese People's Political Consultative Conference, noted that last year, anti-independence organizations actively promoted exchanges and communications between the Chinese mainland and Taiwan and had firmly opposed separatist activities supporting "Taiwan independence" and "Tibet independence." They had also united overseas Chinese and compatriots from Hong Kong and Macao and especially those from Taiwan, he said.     In promoting the peaceful development of cross-Straits relations, the global alliance of anti-independence organizations shouldered important responsibilities and would continue to play their unique and important role, according to Jia, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee.     He urged anti-independence organizations to oppose separatist activities in any form. He warned anti-independence groups to be vigilant against and firmly oppose separatist attempts by the ** Lama and his followers, and asked anti-independence organizations to boycott the infiltration of "Tibet-independence" forces.     He also extended a message to those who had proposed "Taiwan independence" or had participated in or followed "Taiwan independence" forces, saying they were most welcome to return to the track of promoting the peaceful development of cross-Straits relations.