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BEIJING, March 14 (Xinhua) -- Chinese Premier Wen Jiabao said here Sunday that he is still worried about the safety of China's assets in the United States, urging the U.S. government to take actions to assure foreign investors of its treasury bonds."The instability of the U.S. dollar is a great concern for China's foreign assets," he said at a press conference after the National People's Congress concluded its annual session.Wen said he was "a little bit worried" about the China's assets safety in the United States at the same occasion last year.Chinese Premier Wen Jiabao smiles during a press conference after the closing meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 14, 2010Wen reiterated that China needs to guarantee the "safety, liquidity and good value" of its foreign exchange reserves."Safety is China's top concern for the country's foreign reserve investment," Wen said, noting that China cannot afford any mistake in the management of the country's financial assets.Wen expressed hopes that the United States could take concrete actions to ensure the security of the assets and assure its foreign investors, as the safety of U.S. treasury bonds are guaranteed by its national credibility.According to the U.S. Treasury Department, China held 894.8 billion U.S. dollars in U.S. treasury bonds at the end of last year. This figure, revised up from the previous 755.4 billion U.S. dollars, means China remains the largest overseas holder of U.S. treasury bonds.

KHARTOUM, Jan. 28 (Xinhua) -- The Arab League (AL) and the Chinese National Energy Administration on Thursday signed a memorandum of understanding (MoU) on China-Arab energy cooperation mechanism.The two sides singed the MoU at the end of the 2nd conference of the China-Arab Energy Cooperation of the China-Arab Cooperation Forum in Khartoum Thursday.Delegates to the conference had discussed the energy issue including nuclear and renewable energy, stressing the importance to develop all sorts of energy to meet the needs.China and the AL reached consensus to conduct cooperation in the energy sector, and the two sides would strengthen cooperation in the fields of petroleum, natural gas, electrical power, renewable energy and nuclear energy for peaceful purposes.In the meantime, the two sides have agreed to hold the 3rd China-Arab Conference on Energy Cooperation in China in 2012.Representatives of the Arab States' energy ministries, the AL, the Organization of Arab Petroleum Exporting Countries (OAPEC), the Arab Atomic Energy Commission, the Chinese National Energy Administration and some Chinese companies took part in the three- day conference.

BEIJING, Feb. 25 (Xinhua) -- Chinese police had cracked 210 online gambling crimes and arrested 918 suspects in the 13 days ending Feb. 20, an official with the Ministry of Public Security (MPS) said Wednesday.Gu Jian, vice director of the bureau of cyber security under the ministry, said the ministry also cracked another 122 less severe cases and punished 351 people in the same period.He did not provide further details about the cases.Eight Party departments, government ministries and financial regulatory bodies including the MPS and the People's Bank of China, jointly launched a seven-month-long nationwide campaign to curb online gambling on Feb. 8.The campaign, according to an earlier statement from the MPS, targets "major and severe cases, and would arrest domestic and foreign groups that organize online gambling and severely punish the offenders."Online gambling has seriously disturbed social and economic order, and has drawn strong complaints from the public, Gu said.

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ZHANGZHOU, Fujian, Feb. 12 (Xinhua) -- President Hu Jintao on Friday visited some Taiwan businesses in Zhangzhou of southeastern Fujian Province ahead of the Spring Festival to extend New Year greetings.Hu, also general secretary of the Communist Party of China (CPC) Central Committee, visited a business park for Taiwan farmers in Zhangpu county of Zhangzhou City. The park, set up in 2006, houses more than 70 Taiwan-funded agricultural firms."We will try our best in everything that will benefit the Taiwan compatriots, and we will honor our words," Hu told the Taiwan business people.He said the mainland and Taiwan were negotiating on the cross-Strait Economic Cooperation Framework Agreement. "Its' something that will help promote cross-Strait economic cooperation and bring win-win results. During the negotiation process, we will put into full consideration the interests of Taiwan compatriots, especially those of farmers."Fujian, which faces Taiwan across the sea, has won the central government support in accelerating the construction of an economic zone on the western side of the Taiwan Strait, Hu said, adding the economic zone would provide a new platform and opportunities for cross-Strait exchanges and cooperation.Hu expressed hope that more Taiwan compatriots would be dedicated to promoting the peaceful development of cross-Strait relations and work with the mainland people for an even brighter future of the ties.Huang Ruei-bao, chairman of the Zhangzhou Jiuh-Bao Biotechnology Inc., an orchid grower, said investment environment in Zhangzhou was quite favorable and he planned to further expand his flower cultivating base here.The Spring Festival, or the Chinese lunar new year, is the most important holiday for the Chinese, which falls on Feb. 14 this year.Chinese President Hu Jintao (2nd L front), who is also general secretary of the Central Committee of the Communist Party of China (CPC), talks with a businessman (1st R) from China's Taiwan Province, at the Zhangpu Pioneer Park of Taiwan farmers in Zhangzhou, east China's Fujian Province, Feb. 12, 2010. Chinese President Hu Jintao (2nd L), who is also general secretary of the Central Committee of the Communist Party of China (CPC), talks with a businessman (1st L) from China's Taiwan Province, at the Zhangpu Pioneer Park of Taiwan farmers in Zhangzhou, east China's Fujian Province, Feb. 12, 2010.

BEIJING, March 19 (Xinhua) -- China must strengthen trade ties with Russia, Belarus, Finland and Sweden, said Vice Commerce Minister Gao Hucheng Friday, a day ahead of Vice President Xi Jinping's 11-day official visit to the four European countries.Gao told Xinhua that China had been Russia's biggest trading partner since February last year. Sino-Russian trade reached its peak in 2008, with trade volume hitting a record 58.8 billion U.S. dollars.However, the volume was dragged down by the global economic downturn last year, falling 31.8 percent year on year to 38.8 billion U.S. dollars.Sino-Russian trade volume grew 67.9 percent year on year in the first two months of 2010, which was close to the pre-crisis level, Gao said."More attention must be paid to the restructuring of trade cooperation between the two countries," said Gao.China should import more electro-mechanical and technological products from Russia and the two sides should cooperate more in resources development and cross investment.China was Belarus's biggest trading partner in Asia. Bilateral trade had grown 12-fold since 1992, when the two nations established diplomatic relations. Trade volume was 810 million U.S. dollars in 2009.Gao said the Chinese and Belarus governments should encourage companies to enhance cooperation in areas like energy, telecommunications and infrastructure, and support local banks to provide better financial services for each other's companies.He said Finland and Sweden were famous for their innovation-oriented economies, which happened to complement China's economic pattern.As China's eighth and ninth biggest EU trading partners, Sweden and Finland were also major vendors of technology to China, he said.China signed technology contracts worth 420 million U.S. dollars with Sweden and 370 million U.S. dollars with Finland last year.Gao said he hoped the two countries would help China gain EU recognition of its full market-economy status at an early date.

BEIJING, Jan. 31 (Xinhua) -- China's large textile businesses took in 133.15 billion yuan (19.57 billion U.S. dollars) in profits in the first 11 months of last year, according to figures released by the China Textile Industry Association.The profits were up by 25.39 percent year on year, 36.40 percentage points more than that in the Jan.-Feb. period.The industry posted a total production value of 3.43 trillion yuan and 3.35 trillion yuan in sales value, each up by 9.71 percent and 9.82 percent as all major products saw production rise.The industry also witnessed a slow recovery in export. In the 11 months, garment export fell by 11.02 percent to 154.1 billion U.S. dollars, but the drop narrowed by 0.19 percentage points compared to the first 10 months.By contrast, domestic sale accounted for 79.89 percent in the total sales, up by 3.15 percent.

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BEIJING, Feb. 4 (Xinhua) -- Chinese Vice Premier Hui Liangyu said Thursday that the civilians and army should develop favorable interactions to secure both economic and defense development.The government will mobilize various social resources to support the modernization of and various military demands of the army, said Hui at a meeting here.It will also work to better protect the legal rights and interests of servicemen and their families, he said.Hui also hoped the armed forces could contribute to the development and stability of the Chinese society.To develop close army-civilian relations, the government and armed forces should work together to solve problems that common people and soldiers care most and well settle the disputes between the army and localities, so as to well safeguard the fundamental interests of the army and civilians, he said.

BEIJING, March 19 (Xinhua) -- Severe drought has affected 51 million Chinese and left more than 16 million people and 11 million livestock with drinking water shortages, China's State Commission of Disaster Relief said Friday.About 4.348 million hectares of farmland were affected and 940,200hectares would yield no harvest, the commission said in a statement.Since autumn last year, southwest China, including Yunnan, Sichuan and Guizhou provinces, Guangxi Zhuang Autonomous Region and Chongqing Municipality, has received only half its annual average rainfall and water stores are depleted. Photo taken on March 17, 2010 shows the thirsty fields of a terrace in Donglan County, southwest China's Guangxi Zhuang Autonomous Region. The drought in Donglan County, one of the drought-stricken areas in Guangxi, had affected 82,300 Mu (5486 hectares) of farmland by March 17 and 81,600 people were denied easy access to drinking water. The local government and people were mobilized to fight against the drought here.The commission said the ministries of finance, agriculture, civil affairs and water resources had appropriated more than 370 million yuan (54.4 million U.S. dollars) to the provinces, autonomous region and municipality to combat the drought.The funds are generally to be used to purchase drinking water, equipments and supplies for urgent water construction projects.More than 4,000 troops of Chinese People's Armed Police Force (PAPF) in Sichuan, Guizhou, Yunnan, Guangxi and Chongqing have been mobilized to help rural residents with water supplies.The PAPF detachment in Yuxi, Yunnan Province, has supplied more than 17 tonnes of its water reserve to 176 households in the province. In Sichuan, PAPF troops used their machinery to help pump underground water.In Guangxi, the PAPF troops transported water in trucks to 13 remote villages which were home to more than 7,000 farmers and 6,000 livestock.Weather forecasts show no obvious indications of rain in the drought region in the next 10 days.

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BEIJING, Jan. 29 (Xinhua) -- Chinese Defense Minister Liang Guanglie Friday said the work of border and coastal defense must be enhanced for national interests.Defending China's sovereignty, territorial security and maritime interests should be a top mission of the country's border and coastal defense work, Liang said at a national meeting on border and coastal defense.The work of border and coastal defense should also contribute to improved relations with neighboring countries and social and economic development in border areas, he said.Senior Chinese leaders including President Hu Jintao (1st L, front), Premier Wen Jiabao (2nd L, front), Li Changchun (3rd L, front) and Zhou Yongkang (4th L, front) meet with delegates of a national meeting on border and coastal defense, in Beijing, China, Jan. 29, 2010.Senior Chinese leaders including President Hu Jintao, Premier Wen Jiabao, Li Changchun and Zhou Yongkang met with delegates and took photo with them before the meeting.The delegates included representatives of a national committee for border and coastal defense, military regions, border or coastal provinces, and border police authorities

BEIJING, Feb. 21 (Xinhua) -- With Chinese banks' record new lending in 2009 igniting fears about asset bubbles and bad loan, the banking regulator's latest rules aim to bring financial risk under control.The new directives order banks to focus on loan quality control, rather than quantity restriction, and aim to make loans flow to the real economy -- rather than the property and stock markets, which are susceptible to asset bubble formation.Analysts say the directives are a smart way to handle the policy dilemma the central bank faced: with inflationary pressures growing after increased money supply, how can monetary policy be tightened without hurting the fragile economic recovery?The China Banking Regulatory Commission (CBRC) issued new regulations on Saturday evening telling banks to set lending quotas after "prudent calculation" of borrowers' "actual demand".It also reiterated working capital should not finance fixed-asset investment and equity stakes. The new rules also ask lenders to give funds directly to the end user declared by the borrower, instead of directly giving it to the debtor, in an effort to ensure loans are used for their declared purpose.Execution of the directives will help banks exit the "credit stimulus spree", as they pay more attention to risk control. The directives are crucial for the banks' sustainable expansion, said Yu Xiaoyi, analyst with Guangfa Securities.Loose oversight and easy monetary policy have led to many banks developing the bad habit of being excited about loan extension but indifferent to the tracking of loan use, which can result in credit appropriation, an unnamed insider told Xinhua.That allowed many Chinese enterprises to borrow much more than they needed in order to speculate with various types of investment, even though they had ample funds on hand for their routine business operations.In support of the government's 4-trillion yuan stimulus package, Chinese banks lent an unprecedented 9.6 trillion yuan in 2009, nearly half of 2009 gross domestic product.Researchers said that large amounts of the borrowed funds went into property and stock market speculation, further pushing up soaring house prices and further inflating asset bubbles.According to official data released by CBRC, some regions reported two to three percent of funds were misappropriated.Wang Kejin, an official with the Supervision Rules and Regulation Department of CBRC, told Xinhua "the current working capital and individual loans exceeded real market demand,"The inadequate monitoring of loan use demands improvement, otherwise creditors will suffer losses and systemic risks will build, the CBRC said in a statement on its website."Our purpose was to prevent it happening," the statement said.Ba Shusong, a researcher with the Development Research Center of the State Council, China's cabinet, said the new rules will further strengthen credit risk controls and put a "brake" on lending and keep the financial system in good health,Guo Tianyong, a professor with the Central University of Finance and Economics, said the new directive will prevent systemic risk after the rapid expansion in credit.Although the CBRC and the nation's central bank have repeatedly warned banks to maintain an even pace in lending growth and to avoid big fluctuations, new yuan loans hit a massive 1.39 trillion yuan in January, as banks scrambled to lend before an expected tightening in credit later in the year.CBRC chairman Liu Mingkang said on Jan. 27 the Chinese government is aiming to restrict credit supply to 7.5 trillion yuan (about 1.1 trillion U.S.dollars) in 2010.Analysts expect short-term loans to fall significantly on account of tougher lending requirements that prevent businesses using new loans to repay old credit, a phenomena rampant when bill financing with 180-day maturity comprised nearly half of new loans in the first quarter of 2009.To soak up the excess liquidity on the heels of lending spree, China has raised the deposit reserve requirement ratio (RRR) twice this year, after holding it steady for over a year, to handle the "comparatively loose liquidity" while keeping the "moderately easy" monetary policy unchanged.Jing Ulrich, Chairman of China Equities and Commodities at JP Morgan Chase, estimated China's new lending would fall 17 percent this year as the government takes steps to prevent inflation."While lending support for real economic activity is expected to continue, banks are likely to be more vigilant on shorter term credit facilities, given the regulator's anxiety over asset bubbles and capital adequacy ratios," she said.