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BANGKOK, Aug. 15 (Xinhua) -- China's Commerce Minister Chen Deming and the economic ministers from 10 ASEAN member states Saturday morning signed the ASEAN-China Investment Agreement during the 41st ASEAN Economic Ministers Meeting (AEM) and related meetings here. The signing of the investment agreement, together with already-signed China-ASEAN agreements of the trade in goods and services, completed the negotiation process of China-ASEAN Free Trade Area (FTA), which is to be realized by January 1, 2010. "The China-ASEAN FTA will be an advanced FTA that covers an extensive area of 13,000,000 square kilometers with a population of 1.9 billion ", Chen told Xinhua after the signing ceremony. The Investment Agreement, 27 clauses included, tries to provide a free, transparent and justice investment mechanism for investors from both sides, who can enjoy most-favored-nation treatment, citizen treatment, and fair and equitable treatment on reciprocal investment, said Zhang Kening, Counselor from the International Department of the Chinese Commerce Ministry. China's Commerce Minister Chen Deming (2nd L seated) and Thai Commerce Minister Pornthiva Nakasai (3rd L seated) sign the ASEAN-China Investment Agreement during the 41st ASEAN Economic Ministers' Meeting in Bangkok, capital of Thailand, Aug. 15, 2009 China and the 10-nation Association of Southeast Asian Nations (ASEAN) launched their cooperation dialogue in 1991 and signed the China-ASEAN Framework Agreement on Comprehensive Economic Cooperation in 2002, proposing the ASEAN-China FTA by Jan. 1, 2009. After the two sides had negotiated since 2003, the agreement would expand trade and investment between ASEAN and China as well as enhance economic ties with China, Thailand's Commerce Minister Porntiva Nakasai said in a news release. Both sides agreed to support foreign direct investment of their investors, as well as promote and protect investments of Parties to the Agreement by giving non-discriminatory and fair treatment to investors, compensating investors in case of expropriation and providing for investors-State dispute settlement, Porntiva said. Investment facilitation and protection will result in increase in production, exports, and trade volume of both sides, Porntiva said. Porntiva said China is an important trade partner of ASEAN and is the fourth largest export market of ASEAN. In 2009 (January-September) ASEAN export to China was approximately 85.6 billion U.S. dollars. China is the third largest source of import of ASEAN. Imports from China valued at nearly 107.0 billion U.S. dollars, the Thai minister said. This will lead to an increase in green field investments and reinvestment of profit in sustainable way. This is in line with the objectives of the ASEAN Economic Community, she said. China is the 8th largest investor in ASEAN, with accumulated investments as of 2008 valued at 6.1 billion U.S. dollars, while ASEAN accumulated investments in China as of 2008 were valued at 5.6 billion U.S. dollars, she said. The 41st meetings have been focusing on the economic integration within the ASEAN region as the ASEAN Economic Community is expected to complete in 2015, in which investment, capital and skilled labor can flow freely. Thai Deputy Prime Minister Korbsak Sabhavasu, who presided over the official opening ceremony on Friday, said that it is crucial that the ASEAN region will be the outward-looking group since it is essential to live harmoniously within other community in the world as the ultimate goal for ASEAN integration. Prior to the official opening ceremony, high level officials from the 10 ASEAN-member countries began on Wednesday discussing and setting up economic policies and topics prior to submitting to the related ministers on these following days. And, on Thursday, the ASEAN economic ministers and Indian Minister of Commerce and Industry Anand Sharma signed a long-awaited free trade agreement (FTA) for trade in goods after over six years of intense negotiations.
BEIJING, Aug. 4 (Xinhua) -- Salary increases for executives of state-owned enterprises (SOE) should be in line with those for employees, Hu Xiaoyi, China's Vice Minister of Human Resources and Social Security, said Tuesday. Hu said that the government was formulating a document to regulate more effectively SOE executives' salary plans, and the document would be released in the near future. "The disparity between executives' and employees' salary rises should not be alarmingly large," Hu said, noting long-term incentives as well short-term incentives should be used for SOE executives. The State-owned Assets Supervision and Administration Commission is responsible for the regulation of 136 centrally-administered SOEs.

WASHINGTON, Sept. 10 (Xinhua) -- Visiting top Chinese legislator Wu Bangguo on Thursday met with U.S. President Barack Obama at the White House on bilateral relations and international and regional issues of common concern. Wu, chairman of the Standing Committee of China's National People's Congress, was the first top Chinese legislator that has visited the United States during the past two decades. Before meeting with Obama, Wu met U.S. Vice President Joe Biden at the White House. Wu will hold talks with U.S. Secretary of State Hillary Clinton later in the day. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, meets with U.S. President Barack Obama at the White House in Washington, the United States, Sept. 10, 2009 On Wednesday, Wu met U.S. House of Representatives Speaker Nancy Pelosi, telling her that his visit aimed to promote further growth of the China-U.S. relationship, which is, in his words, one of the most important, dynamic and promising bilateral ties in the world. Wu is here on a week-long official goodwill visit to the United States, the final leg of his three-nation tour to the Americas which also took him to Cuba and the Bahamas.Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, meets with U.S. President Barack Obama at the White House in Washington, the United States, Sept. 10, 2009
BRUSSELS, Oct. 7 (Xinhua) -- China will work with Belgium to improve political trust and substantial cooperation to make new progress in bilateral ties, Chinese Vice President Xi Jinping said here Wednesday. During talks with Belgian Prime Minister Herman Van Rompuy, Xi put forward a four-point proposal to cement bilateral ties: -- To maintain high-level contacts and political dialogues. China welcomes King Albert II to participate in the 2010 Shanghai Expo and hopes the governments, parliaments and political parties of the two countries to increase exchanges for more understanding and trust; -- To consider the core interests and concerns of each other. China hopes the two sides would deal with the bilateral relations from a strategic and long-term perspective, properly handle disputes based on principles of mutual respect, equal treatment and noninterference in each other's internal affairs, to enhance the development of the bilateral ties in a healthy and stable way; Chinese Vice President Xi Jinping (L) shakes hands with Belgian Prime Minister Herman Van Rompuy, during their talks in Brussels, capital of Belgium, on Oct. 7, 2009. Xi Jinping arrived here on Wednesday to begin a five-nation European tour -- To actively boost tangible cooperation, including investment and technological cooperation. China welcomes Belgian companies to invest in China and encourages its own entrepreneurs to do business in Belgium; -- To increase human and culture exchanges. China will further promote exchanges with Belgium in various sectors including culture, education and tourism. Chinese Vice President Xi Jinping (2nd L) holds talks with Belgian Prime Minister Herman Van Rompuy (4th R) in Brussels, capital of Belgium, on Oct. 7, 2009. Xi Jinping arrived here on Wednesday to begin a five-nation European tourVan Rompuy said Belgium would work with China to push forward exchanges and cooperation in all areas. He spoke highly of China's stance in handling the current global financial crisis and the climate change, and pledged to strengthen coordination with China on regional and international issues. He reaffirmed that Belgium would always adhere to the one-China policy and the principle of noninterference in other country's internal affairs, and would not support any separatist activities. Following the talks, Xi and Van Rompuy attended the signing ceremony of a number of agreements on science, finance and trade cooperation. Xi arrived here Wednesday afternoon for an official visit to Belgium, the first leg of his European tour. He will also visit Germany, Bulgaria, Hungary and Romania.
NEW YORK, Sept. 21 (Xinhua) -- Chinese President Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25. President Hu will attend a UN climate change summit in New York on Tuesday, address the general debate of the 64th Session of the UN General Assembly Wednesday, and participate in a Security Council summit on nuclear non-proliferation and disarmament on Thursday, said Chinese Foreign Ministry officials. In a note to heads of state and government regarding the summit, UN Secretary-General Ban Ki-moon said "the objective of the Summit on Climate Change, which I am convening on Sept. 22, is to mobilize the political will and vision needed to reach an ambitious agreed outcome based on science at the UN climate change talks in Copenhagen." Chinese President Hu Jintao (Front, R) is greeted upon his arrival at New York, the United States, on Sept. 21, 2009. Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25"I hope that cooperation between and among developed and developing countries can be strengthened, and that the political impetus for a successful deal in Copenhagen will be made manifestly clear to all participants," he said. Tuesday's summit is convening just 10 weeks before world leaders gather in Copenhagen in December to negotiate and try to seal a treaty on climate change after the first phase of the Kyoto Protocol expires in 2012. "At the meeting, President Hu will call for stronger international efforts on climate change and introduce new measures that China is taking," China's Vice Foreign Minister He Yafei told a press briefing last week. "The president will fully elaborate on China's stance and proposals on climate change and what China is doing about it," He said. Chinese President Hu Jintao (Front, 2nd R) shakes hands with a Chinese diplomat in the United States upon his arrival at New York, the United States, on Sept. 21, 2009. Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25The vice minister expressed the hope that "the summit would send a positive signal," emphasizing joint efforts to make the Copenhagen conference a success. During the general debate of the UN General Assembly Wednesday, Hu is expected to elaborate on China's stand on major global and regional issues. In his speech, President Hu will outline China's ideas about how to safeguard world peace, boost common development, promote mutual benefit and seek harmonious co-existence, said Chinese Foreign Ministry officials. On Thursday, President Hu will attend a special session of the UN Security Council on nuclear non-proliferation and disarmament, which is proposed and chaired by U.S. President Barack Obama "The session will focus on nuclear non-proliferation and nuclear disarmament broadly, and not on any particular countries," U.S. Ambassador to the UN Susan Rice said on Sept. 2. Chinese diplomats said that President Hu will elaborate on China's ideas of realizing common security through a win-win approach to mutual benefits. Hu will put forward China's propositions on nuclear non-proliferation and disarmament, peaceful use of nuclear power, nuclear security and other issues concerning the international community, they said. Following the UN meetings, President Hu will fly to Pittsburgh for the G20 summit. At the summit, Hu and leaders of other G20 members will review the progress made since the Washington and London summits and discuss further actions to assure a sound and sustainable recovery from the global financial and economic crisis. "The Pittsburgh summit is an important opportunity to continue the hard work that we have done in confronting the global economic crisis, and renewing prosperity for our people," Obama said on Sept. 8. "Together, we will review the progress we have made, assess what more needs to be done, and discuss what we can do together to lay the groundwork for balanced and sustainable economic growth," he added. The Pittsburgh summit is the third since the ones in Washington last November and in London in April this year. The G20 was formally established in 1999 to bring together major industrialized and developing economies to discuss key issues in the global economy. The G20 consists of China, Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, the United States, and the European Union. China expects the summit to achieve positive results in macroeconomic policy coordination, reform of international financial organization, development and measures against protectionism, said Chinese Vice Foreign Minister He.
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