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ADDIS ABABA, Dec. 13 (Xinhua) -- Ethiopian Minister of Finance and Economic Development Sufian Ahmed and a Chinese delegation led by Liu Liange, deputy president of Export-Import Bank of China (China Eximbank), on Monday discussed projects financed by the EximBank here in Addis Ababa, Ethiopia.The two sides exchanged ideas on ways of enhancing cooperation in infrastructure development and other sectors. Speaking at the discussion, Sufian said the two countries have been enjoying good relations in all sectors.He said China has forged good relations with the African continent in general and Ethiopia in particular."Particularly the relations between the two countries are increasing from time to time...We also thank the supporting hand of the Chinese government and the Chinese institutions. Exim Bank is one of the Chinese institutions we are working closely with," said Sufian.Liu Liange, on his part, said China has attached great importance to the China-Africa relations.He also said the state-owned China Eximbank would continue working in cooperation with Ethiopia.Sufian Ahmed told Xinhua after the discussion that they had fruitful talks with the Chinese delegation.He said they had agreed to further enhance cooperation between the two sides.

BEIJING, Jan. 6 (Xinhua) -- China Thursday called on parties involved in the Cote d'Ivoire crisis to solve disputes and differences through dialogue."We appreciate the positive efforts of the African Union (AU) and the Economic Community of West African States (ECOWAS) to promote a peaceful settlement of the Cote d'Ivoire crisis," said Foreign Ministry spokesman Hong Lei at a regular press briefing.Cote d'Ivoire has been in political crisis after both incumbent President Laurent Gbagbo and his rival Alassane Ouattara claimed victory in the presidential run-off of Nov. 28.The AU and the ECOWAS have sent a joint five-member high-level delegation to the Cote d'Ivoire to seek a peaceful resolution to the country's political crisis.Hong said peacefully settling the crisis is in the common interests of west African countries. He urged the parties involved in the crisis "to settle differences, achieve political reconciliation, and maintain national peace and stability through consultation."

BEIJING, Nov. 19 (Xinhua) -- China's central bank Friday ordered banks to set aside an additional 0.5 percent of their deposits from Nov. 29, the fifth such hike this year and the second increase this month.The People's Bank of China said the move was aimed at "enhancing liquidity management and moderately regulating credit supply." The increase was estimated to freeze liquidity of about 300 billion yuan (44.8 billion U.S. dollars).The reserve requirement ratio (RRR) for the four big state-owned banks -- the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China -- will stand at 18.5 percent once the rise takes effect.Friday's move will raise the deposit reserve ratio for other large financial institutions to 18 percent and for small and medium-sized institutions to 16 percent.Analysts said the increase exceeded forecasts as it targeted over-liquidity in the banking system and looming hot money inflows caused by the United States' quantitative easing policy."The PBOC is under pressure, and it needs to do something to show its determination to tame inflation. However, it has no intention to kill growth by aggressively hiking interest rates or imposing a lending squeeze," said Lu Ting, China economist at the Bank of America-Merrill Lynch."Hiking the RRR is the natural choice of the PBOC," Lu said in an e-mailed note to clients.China's economic growth rate was likely to slow in the fourth quarter to 8.7 percent, mainly as a result of economic restructuring, the State Information Center (SIC) said Friday.The forecast was almost 1 percentage point lower than the third quarter's 9.6-percent growth rate, but the SIC expected the economy to grow by 10 percent for the full year on the back of a 10.6-percent growth rate for the first three quarters.The central bank, on Nov. 10, announced a 50-basis-point rise of the RRR for Chinese financial institutions that accept deposits from Nov. 16, as China's consumer price index (CPI), a main gauge of inflation, soared to a 25-month high of 4.4 percent year on year in October.Prices of meat have risen for the week ending Nov. 14, with prices of pork up 1.6 percent and mutton 0.5 percent. Prices of eggs also rose 0.9 percent, while rice rose 0.6 percent and flour 0.4 percent, according to a weekly report by the Ministry of Commerce.The report said prices of 18 types of vegetables were slightly lower, down by 0.8 percent compared to the previous week. However, on a year-on-year basis, the prices of 18 staple vegetables in the first 10 days this month were still significantly higher from a year earlier.The State Council, the Cabinet, Wednesday announced price control guidelines to reassure consumers facing rising inflation and urged local authorities to offer temporary subsidies to needy families.The market had been expecting an increase, but did not anticipate it would come so soon, said Tan Yaling, senior analyst at Bank of China.She said the central bank would not raise the benchmark interest rates soon after the ratio hike as higher interest rates would further expand the interest rate differences between China and other major economies, which would lead to the influx of hot money.The central bank's decision to raise the RRR, instead of interest rates, was because a higher RRR would have "a direct effect on withdrawing liquidity," said Yan Wei, chief economist with the Orient Securities.The decision was announced after Chinese stock markets edged up following a period of decline of up to 10 percent of their value, largely on concerns of tighter policies.The benchmark Shanghai Composite Index rose 0.81 percent to close at 2,888.57. The Shenzhen Component Index closed up 1.23 percent to end at 12,295.85.

XIANGTAN, Hunan, Dec. 1 (Xinhua) -- Experts and rescuers said Wednesday there was little hope of finding seven miners trapped underground alive after a coal mine was flooded nearly one day earlier in Hunan Province.The flood happened at 11:38 p.m. Tuesday in a pit at the Yide Coal Mine in Xiangtan County, trapping seven miners at a depth of 89 meters, said Zhao Jun, one of the experts involved in the rescue operation.The miners were believed to be stranded in a tiny area and it is possible they have drowned, said Zhao, who is also the chief engineer of Hunan's Coal Industry Bureau.In addition, the oxygen density was tested to be 8 percent at a depth of 83 meters in the flooded pit, indicating less oxygen at the level where the miners were trapped, which increases the possibility of suffocation, rescuers said.However, rescuers are still trying to install more pumps to drain the water.A spokesman with the emergency rescue headquarters said Yide, a small mine that had doubled its annual output to 60,000 tonnes after recently merging with a neighboring mine, had been warned due to safety concerns, both orally and in writing, over the past four weeks.Senior executives and major shareholders of the mine are now in police custody.

BEIJING, Dec. 27 (Xinhua) -- Chinese stocks weakened Monday after the nation's central bank hiked rates on Saturday and amid speculation further monetary policy tightening to combat inflation is in the offing.The benchmark Shanghai Composite Index fell 1.9 percent, or 53.76 points, to finish at 2,781.4, following the central bank's decision to raise the benchmark one-year lending and deposit interests rate by 0.25 percentage points, its second rate hike in just over two months.The Shenzhen Component Index fell 2.02 percent, or 253.66 points, to end at 12,303.19 points.Combined turnover increased to 224.44 billion yuan (33.85 billion U.S. dollars) from 185.28 billion yuan the previous trading day.An investor watches a screen at a stock trading hall in Shanghai, Dec. 27, 2010. China's stock market dropped Monday. The benchmark Shanghai Composite Index lost 1.90 percent, closed at 2,781.40. The Shenzhen Component Index dropped 2.02 percent, closed at 12,303.19.Losers outnumbered gainers 834 to 76 in Shanghai and 1,125 to 89 in Shenzhen.China's consumer price index (CPI), a main gauge of inflation, rose to a 28-month high of 5.1 percent year on year in November.Besides hiking rates, China's central bank has increased banks' reserve requirement ratio six times this year, taking it to 19 percent for some banks.Shares of property developers dropped. China Vanke, the nation's largest real estate developer, lost 2.89 percent to 8.75 yuan. China Everbright Bank fell 3.7 percent to 3.91 yuan. PetroChina, China's biggest oil producer, declined 2.28 percent to 11.16 yuan.Coal producer shares gained 1.74 percent amid gains in international crude oil prices.China Shenhua Energy Co., China's biggest coal producer, climbed 0.02 percent to 25.05 yuan.

来源：资阳报