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TAIPEI, Feb. 15 (Xinhua) -- Taiwan leader Ma Ying-jeou said Monday that the Economic Cooperation Framework Agreement (ECFA) with the mainland is aimed to help Taiwanese people to do business and boost the island's competitiveness.Ma made the remarks in Taoyuan, a northwestern county of the island, at a gathering to mark the Chinese Spring Festival, or Lunar New Year.The ECFA is a wide-ranging economic pact for further normalizing trade and investment ties across the Taiwan Strait, which Ma hopes to sign with the mainland this year to help fuel Taiwan's economic revival.Tariff reduction would promote the sales of goods from Taiwan to the mainland, which will benefit both the Taiwanese businesses and the foreign-funded businesses in Taiwan, Ma said.This will help Taiwan to introduce more foreign investment and grant the island an opportunity to become a hub of economy and trade in the Asia-Pacific region, he said.As the mainland is Taiwan's biggest trade partner, the pact will certainly do more good than harm, Ma said.Ma also attended an ancestor worship ceremony in Majiazhuang, Miaoli County on Monday and said that the ancestors of him and local residents moved from Fufengtang, northwest China's Shaanxi Province, to the island some 2,000 years ago.He also spoke optimistically of the economy situation and expected an economic growth of 4 percent in Taiwan this year.

BEIJING, Feb. 7 (Xinhua) -- Chinese Vice President Xi Jinping on Sunday urged improvement of the Party's role in leading the economic work as the country pushes forward transformation of the economic development mode.Xi, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the call at the closing ceremony of a seminar for provincial and ministerial level officials, which began on Feb. 3.Chinese Vice President Xi Jinping (2nd L), also a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau and a member of the Secretariat of the CPC Central Committee, speaks during the closing session of a seminar on the implementation of the Scientific Outlook on Development and the transformation of the mode of economic development in Beijing, capital of China, Feb. 7, 2010. The seminar, attended by the country's provincial and ministerial chiefs, opened on Wednesday at the Party School of the CPC Central Committee in Beijing"As the international environment is experiencing major changes and the country's economic development is showing a series of new characteristics, we must... adapt ourselves to changes and accelerate the transformation of the economic development mode," said Xi, adding that the country should sharpen the competitive edge of its economy amid fierce international competition and meet people's expectations for a better life.He said that in the drive, Party committees must exert full efforts in guidance while Party organizations at lower levels should strengthen their role in implementation with Party members setting examples for others.

Beijing, Feb. 8 -- China's banks will outpace their peers in India and Indonesia, the best performers in Asia's banking industry over the past decade, to deliver the highest returns over the next five to 10 years, analysis firm CLSA Ltd said.The top eight performers among Asian banks over the past decade were all from India, with gains of 400 percent to 3,000 percent, CLSA said in a research report released today.Indonesian banks ranked second over a three-to-five-year period, as no data was available for 10 years, the report said.Shenzhen Development Bank Co, China's first commercial bank to launch an IPO and get listed on Shenzhen Stock Exchange (in 1987), is expected to show a more than eight-fold increase in net profit for 2009, boosted by lower provisions for bad loans and higher net interest and fee income, the Wall Street Journal saidThe two countries recorded the highest credit growth, as India's loans increased 622 percent over the past 10 years, followed by 508 percent growth in Indonesia, Daniel Tabbush and Suangsuda Sinsadok, analysts at CLSA, said in the report.That shows "positive" implications for China's banks given the nation's 326 percent increase in loan growth over that period, they wrote in their analysis."Where China stock price data is only recent, we can at least assume that the fact that those banks are returning the third-highest loan growth over the past five and 10 years can in fact mean strong total returns over the long term," the analysts wrote.China's loan growth of 79 percent was the highest over the past three years, according to the report by CLSA, which is "overweight" on the nation's bank stocks as well as those in India and Indonesia.

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SINGAPORE, Feb. 16 (Xinhua) -- Singapore's Senior Minister Goh Chok Tong said on Tuesday that China will become even more important globally and Singapore must find opportunities to ride on China's growth.Speaking at the Business China spring reception on Tuesday night, Goh said that China has over the past year weathered the global economic downturn with exceptional resilience.Despite shrinking external demand and rising unemployment, China's timely and bold policy responses have enabled its economy to grow at a sizzling 8.7 percent last year, he said, adding that China is now reinforcing its role as the engine for growth in Asia, if not the world.Goh said that the city state recognized China's potential early, soon after China began to open up its economy in 1978.Because of the early efforts made by the Singapore government and Singaporeans, China is today the city state's third largest trading partner and top investment destination, Goh said.As for riding on China's growth, Goh said that the Singapore government will help its companies gain an even stronger foothold in China, and continue to catalyze business opportunities in China.The seven provincial-level business councils, as well as other high-level dialogues and platforms, help open opportunities for companies, reinforce the Singapore brand name and increase its mindshare in China, Goh said.

BEIJING, Feb. 24 (Xinhua) -- China should further step up efforts to implement the plan to adjust and reinvigorate some of the country's key industries, according to an executive meeting of the State Council held on Wednesday.The meeting was chaired by Premier Wen Jiabao.Progress has been made in 2009 for adjusting and promoting key industries, however the situation remained grave as weak global demand was still affecting China's economy and more efforts were needed to curb overcapacity in some industries, according to a statement released after the meeting.To combat the global economic downturn, China in 2009 adopted a massive plan to adjust and reinvigorate the country's ten key industries covering cars, steel, information technology, logistics, textile, nonferrous metal, equipment manufacturing, petrochemicals, shipbuilding as well as light industry.The implementation of the plan was a long-term task which should focus on the structure adjustment and development mode transformation of the ten industries, said the statement.Vigorous efforts should be made to expand domestic demand, optimize industrial layout, curb overcapacity, eliminate retrograde productivity, push company merger and restructuring, promote technology innovation and deepen reform to facilitate development mode change, it said.

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LONDON, Feb. 15 (Xinhua) -- British Prime Minister Gordon Brown said "Gong Xi Fa Cai", or "Wishing you prosperity" in Chinese, on Monday during a reception held at 10 Downing Street to mark the start of the Chinese Lunar New Year.In a message to mark the occasion, Brown said the government would continue to promote values shared with the thriving Chinese community such as the belief in "hard work, enterprise, community spirit and strong families."British Prime Minister Gordon Brown (1st L) expresses warm new year wishes to attendees during a reception at No. 10 Downing Street, the residence of the Prime Minister, in London, capital of the U.K., Feb. 15, 2010. Brown hosted a reception for overseas Chinese in Britain here on Monday to celebrate the Chinese Lunar New Year that falls on Feb. 14 this yearBrown said: "We are doing all we can to ensure economic stability and job security and I am proud that many Chinese entrepreneurs continue to create employment and contribute to the nation's GDP."Almost 100 guests including television presenter Gok Wan visited Number 10 to celebrate the beginning of the Year of the Tiger.   British Prime Minister Gordon Brown expresses warm new year wishes to attendees during a reception at No. 10 Downing Street, the residence of the Prime Minister, in London, capital of the U.K., Feb. 15, 2010.

BEIJING, March 8 (Xinhua) -- Chinese President Hu Jintao urged scientific development of the Binhai New Area, an economic powerhouse in north China, when joining a panel discussion with lawmakers from Tianjin Municipality.It is urgent to accelerate the transformation of the economic development pattern and promote growth led by innovation and driven by internal impetus, Hu told the deputies to the National People's Congress (NPC), China's supreme legislature.Lying between Beijing and the Bohai Gulf, the Binhai New Area, with a population of 1.4 million, is an economic engine that drives the development of the country's north. Chinese President Hu Jintao talks with deputies to the Third Session of the 11th National People's Congress (NPC) from Tianjin Municipality, in Beijing, capital of China, March 8, 2010.The new area should play a leading role in the country to implement the scientific outlook on development and focus on improving people's livelihood and solving problems that the public care the most, Hu said.The city should seek coordinated social and economic development, and continuously strengthen its capabilities in urban planning, construction and management to build Tianjin into an international and modern city where people enjoy living.Wu Bangguo, chairman of the Standing Committee of the NPC, joined a panel deliberation on the draft amendment to the Electoral Law with lawmakers from the southwestern Yunnan Province.He said the electoral system is an important basis of the people's congress system and an important content of the socialist path of political development with Chinese characteristics."We must bring into better play the advantages of the electoral system with Chinese characteristics," Wu told the deputies.While joining a panel deliberation with NPC deputies from the eastern Shandong Province, Premier Wen Jiabao called for balanced development between urban and rural areas.The province should make efforts to expand export of its farm produce and help manufacturing businesses go through difficult times and upgrade their production capability, Wen said.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), joined a panel discussion of political advisors from science and technology circles.Jia said science and technology workers should make efforts to advance innovation and contribute to the country's transformation of economic growth pattern.Speaking to NPC deputies from Fujian Province, Li Changchun, a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, called for vigorous publicity efforts on the transformation of the economic development pattern.Vice Premier Li Keqiang told NPC deputies from Hainan Province to continue the efforts in developing the island into an international tourism destination.He said the province should develop tropical agriculture and marine economy, and strengthen energy conservation and environment protection.Zhou Yongkang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, joined the deliberation of the government work report with deputies from the Xinjiang Uygur Autonomous Region.He said the region must "seize the historic opportunity, as the central authorities' conference on the work of Xinjiang approaches, ...to build a prosperous, harmonious and stable society in Xinjiang."The annual full sessions of the CPPCC National Committee and NPC opened in Beijing last Wednesday and Friday.

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BEIJING, Jan. 27 (Xinhua) -- China is scheduled to issue 26 billion yuan (3.82 billion U.S. dollars) of book-entry treasury bonds from Jan. 28, the Ministry of Finance (MOF) announced Wednesday.The two-year bonds, the first batch of treasury bonds this year, will be issued on the national inter-bank bond market and securities exchange market on Jan. 28 and Jan. 29, the MOF said in a statement on its website.The bonds have a fixed annual interest rate of 2.01 percent and will be available for trading from Feb. 2. Interest will be paid annually. The principal will be paid upon maturity on Jan. 28, 2012.

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.