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RIYADH, Feb. 11 (Xinhua) -- Visiting Chinese President Hu Jintao said Wednesday that China will seek an early free trade agreement (FTA) with the Gulf Cooperation Council (GCC).     "The FTA is in the fundamental and long-term interests of both sides and will help deepen their mutually beneficial cooperation and achieve common development," Hu said during a meeting with GCC Secretary General Abdul Rahman Al-Attiya in Riyadh, where the council is headquartered.     "China will work actively toward signing the agreement at an early date," Hu said. Chinese President Hu Jintao (R) shakes hands with Abdul Rahman Al-Attiyah, secretary general of the Gulf Cooperation Council (GCC), in Riyadh, capital of Saudi Arabia, Feb. 11, 2009. Hu is in Saudi Arabia for a state visit    Al-Attiya echoed Hu's views and pledged efforts to complete the FTA talks as soon as possible.     China and the GCC launched FTA negotiations in July 2004, and the first round of the talks took place in April 2005.

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BEIJING, March 7 (Xinhua) -- Another Chinese delegation of businesses and industry leaders, led by the Ministry of Commerce (MOC), left for four European countries Saturday for investment and economic cooperation, the MOC said.     The business delegation, following purchases totaled more than 10 billion U.S. dollars in Europe by a Chinese procurement delegation in late February, are heading for the same destinations of Germany, Switzerland, Spain and Britain.     The new delegation will explore investment opportunities on areas of automobile, machinery, textile, food, electronics and technologies relating to energy saving and environment protection.     An MOC official said "the move would further strengthen cooperation between Chin and Europe and create a win-win result in tackling the global economic downturn."     The delegation are composed of more than 20 top Chinese companies, as well as several national trade associations and government officials.

PATTAYA, Thailand, April 11 (Xinhua) -- China, Japan and South Korea agreed here Saturday to continue pushing forward the Six-Party talks aimed at realizing denuclearization of the Korean Peninsula.     The consensus was reached when Chinese Premier Wen Jiabao, Japanese Prime Minister Taro Aso and South Korean President Lee Myung-bak met here to discuss the recent rocket launch by the Democratic People's Republic of Korea.     Discussions about related issues should be conducive to maintaining the progress of the Six-Party talks, peace and stability on the Korean Peninsula and in Northeast Asia, Wen said. Chinese Premier Wen Jiabao meets with Japanese Prime Minister Taro Aso(r) and President of the Republic of Korea (ROK) Lee Myung Bak(l) in Pattaya, Thailand, on April 11, 2009    Any action that may further complicate the situation should be avoided, he emphasized.     The three leaders also agreed to strengthen cooperation between China, Japan and South Korea and push forward their cooperation with the Association of Southeast Asian Nations.     The three leaders expected to meet in China later this year for the second summit of Chinese, Japanese and South Korean leaders.

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BEIJING, April 16 (Xinhua) -- Chinese Premier Wen Jiabao said Thursday that government stimulus moves had begun to produce results and the economy was now in "better-than-expected" shape.     Wen's remarks at a cabinet executive meeting came after the government said there had been positive economic changes, even though the economy grew just 6.1 percent in the first quarter, the slowest pace in a decade.     The premier cited pick-ups in investment, consumption and industrial output, abundant liquidity in the banking system, and improved market expectations as signs of those "positive changes."     The National Bureau of Statistics said Thursday that first-quarter industrial output grew 5.1 percent year on year, with a rise of 8.3 percent in March.     It also said fixed asset investment rose 28.8 percent to 2.81 trillion yuan (413.2 billion U.S. dollars), with real growth exceeding 30 percent, while retail sales grew 15 percent to 2.94 trillion yuan.     Such positive changes indicated that the government's macroeconomic policies, taken since the second half of last year, have been "timely, powerful, and effective," said Wen, who presided over the meeting.     China announced a 4-trillion-yuan stimulus package last November to boost domestic demand, slashed interest rates five times since last September, unveiled support plans for 10 key industries, and projected a record fiscal deficit of 950 billion yuan this year.     These measures were prompted by a collapse in exports as the global downturn took its toll on the world's fastest-growing economy.     China's economic growth cooled to a seven-year low of 9 percent last year, ending five years of double-digit expansion.     "However, we must also be clear-headed and understand that grounds for the country's economic recovery are not solid enough yet, as circumstances both at home and abroad remain grim," Wen warned.     He said that global financial turmoil was still spreading, and was exerting a deepening influence on the national economy.     The premier cited continued falling in external demands, oversupply in some sectors that would suppress industrial output growth and worsen corporate earnings, reluctance in private investment, increased difficulty in raising farmers' income, the dwindling fiscal revenue, and the acute pressure to create enough jobs.     He warned against blind optimism and called for unslackened efforts to achieve the country's goals of social and economic development.     China is aiming to achieve an 8-percent growth this year, which has long been held as essential for the populous developing nation.     "We should anticipate more risks and difficulties ahead, expect a longer time frame within which we would be able to overcome the crisis, and get prepared with more satisfying measures."     The government would focus on following moves, according to the premier.     -- To bring into play measures aimed at expanding investment.     The country would soon cash in the third batch of pledged central government investment. The central government has so far cashed in 230 billion yuan (33.8 billion U.S. dollars), which is part of the 4-trillion-yuan stimulus package.     The government would also revise government approval of investment projects -- or loosen government grip on investment project approval, to encourage private investment, and would continue the work on stabilizing and expanding foreign investment.     -- To expand consumption, and consumer spending in particular.     The country would continue to improve its policy for subsidies to farmers who buy designated brands of home appliances, and stimulate spending on culture, tourism and information in the service sector.     It would also try to keep spending on such items as housing and auto stable.     -- "Using every possible means" to maintain stable trade growth.     The government would scrap policies that could restrict exports, and extend support to exports of hi-tech and labor-intensive products.     It would also increase imports of important energy resources, heavily-demanded raw materials and key technologies and equipment, and encourage domestic firms to invest overseas.     -- To keep the stable development of agriculture.     The country would continue to carry out policies favorable to farmers and agriculture. It would initiate the plan to increase the country's grain output by 50 million tonnes over the next 12 years.     -- To promote the restructuring of key industries.     The government will unveil details of the stimulus packages for10 key industries as soon as possible, and cash in the fund from central government that will be exclusively used for the restructuring and technological renovation.     The Chinese government would improve policies in favor of innovation and hi-tech industries, and may cultivate new growth in sectors of new energy, energy conservation, environmental protection, bio-pharmaceuticals, telecommunications and modern services.     -- To advance with efforts to improve people's livelihood.     The government would make public the execution plan and documents for the huge health care reforms as soon as possible. The reforms are aimed to provide universal health care to the country's large population.     It would continue to provide support to migrant workers and college graduates who are hunting for jobs.     -- To make sure the financial system is providing necessary support for the economic growth.     The government would adjust the market demand for capital and ensure capital is used to fuel the economic growth.     It would give more support to small- and medium- sized enterprises to meet their capital demand.     -- To increase fiscal revenue by making more efforts to collect taxes that are due according to laws and regulations, and at the same time cutting back on unnecessary expenditures.

DAKAR, Feb. 13 (Xinhua) -- Visiting Chinese President Hu Jintao held talks with his Senegalese counterpart Abdoulaye Wade in Dakar on Friday to discuss promotion of friendly and cooperative ties between China and the West African nation.     Hu said the bilateral relations have made progress in various fields since the resumption of diplomatic ties in 2005, and facts have proved that the China-Senegal friendship is in the fundamental interests of both nations and will have a promising future.     To cement bilateral cooperation and seek more tangible benefits for the two peoples, Hu proposed both nations keep exchange of high-level visits and deepen political trust, and increase communications and cooperation between the two governments, legislatures, ruling parties and local authorities so as to lay a solid political foundation for bilateral ties.     On the economic front, Hu suggested establishing a bilateral economic and trade steering committee to plan and monitor trade cooperation.     China would like to facilitate Senegalese corporations' efforts to do business in and expand their exports to China, and the Chinese government will encourage Chinese businesses and the China-Africa Development Fund to cooperate with Senegalese businesses, Hu said. Visiting Chinese President Hu Jintao (L) meets with his Senegalese counterpart Abdoulaye Wade in Dakar, capital of Senegal, Feb. 13, 2009    Hu called on non-governmental organizations in both nations to increase exchanges, seek multiple forms of cooperation and enhance mutual understanding.     On international issues, Hu said China values the positive role that Senegal has played in African and international issues, and would like to step up consultation and coordination with Senegal in the United Nations, the World Trade Organization and other organizations, in a bid to safeguard the legitimate rights of developing countries and to promote South-South cooperation and South-North dialogue.     Hu said China will keep its promise made at the Beijing Summit of the China-Africa Cooperation Forum in November 2006 and will not reduce its aid to Africa as a result of China's efforts to address the global financial crisis.     China will urge the international community to pay attention to the difficulties the crisis has brought to Africa and to increase Africa's representation and voice in reforms of the international financial system, Hu said, adding that China would like to further communicate and coordinate with Senegal and other African countries to tide over the crisis.     Wade said he was satisfied with the bilateral cooperation since the resumption of diplomatic ties as China has fully honored its commitments and China-aided programs have been going on smoothly.     He appreciated China's generous support for Senegal in the sectors of infrastructure, agriculture, culture, education and public health.     After the talks, the two presidents witnessed the signing of a number of cooperation deals.     Senegal was the third leg of Hu's five-nation tour. The first-ever visit by a Chinese president was warmly welcomed by local people, with the streets from the airport to downtown Dakar being lined up with Chinese and Senegalese flags and welcoming crowds.

BEIJING, April 5 (Xinhua) -- Chinese Foreign Minister Yang Jiechi made a phone conversation with his U.S. counterpart Hillary Clinton on Sunday, expressing concerns over Chinese nationals killed and injured in Friday's Binghamton shooting rampage.     According to preliminary investigation results, four Chinese women were among the people killed in the shooting and another Chinese national was injured. The American Civic Association is cordoned off in Binghamton, New York, the United States, April 4, 2009. Chinese are among the dead in Binghamton Shooting, Chinese consulate cities police sources"This was a very serious incident and the Chinese government is deeply concerned about it," Yang said.     "We grieve over the death of the Chinese nationals and other victims, and our condolences go to the injured people as well as the victims' families," he said.     China hopes the United States will properly handle the matters concerning the Chinese victims, offer immediate medical treatment to the injured Chinese, and provide the victims' families with timely and sufficient assistance as well as convenience to get visas to America, Yang said.     The Chinese Embassy and the Consulate-General in New York are both making urgent contacts with the U.S. side over the issue, he added.     Yang also urged the U.S. to take necessary measures to ensure the safety of the Chinese nationals and their properties in the United States.     Clinton, for her part, extended condolences to the Chinese victims and their families.     She said the shooting was a tragedy and investigations have been underway into the cause.     The United States will be serious with China's requests, she said, pledging all efforts to offer medical treatment to the injured Chinese and to provide the victims' families with timely and comprehensive assistance to get visas to her country.     Thirteen people were killed and four others wounded Friday in the shooting spree by a lone gunman at an immigrant services centre in downtown Binghamton, New York.     Binghamton Mayor Matthew Ryan described the shooting as "a tragedy that affects many different people from many different countries and their families and friends."     There have been inquires from nine different countries and two different consulates, Ryan told a press conference.

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BEIJING, Feb 7 (Xinhua) -- After some parts of the drought-stricken north China embraced the long-awaited rain on Saturday, more rainfall was expected to come on Sunday, said National Meteorological Center (NMC) on Saturday.     Rain or snow is forecast for Sunday and next Monday in parts of the northwest and southwest China. They will also spread to the country's north and central regions, according to the NMC. Photo taken on Feb. 7, 2008, shows raindrops on wheat seedlings in Zhongmou County, Henan Province, central China.    The provinces of Gansu, Shaanxi, Shanxi, Hebei, Shandong, Henan, Hubei and Anhui, the country's major wheat-growing areas which are hard-hit by the rare drought will brace rain or snow from Saturday night to Sunday. The rainfall will be less than 10 millimeters, but will help relieve the grim drought moderately.

BEIJING, April 13 (Xinhua) -- House prices in 70 major Chinese cities fell 1.3 percent in March from a year earlier, the National Bureau of Statistics said Monday.     The month-on-month figure, however, rose 0.2 percent in March.     In the first quarter, the area of commercial houses sold rose 8.2 percent to 113 million square meters and sales jumped 23.1 percent to 505.9 billion yuan (74 billion U.S. dollars), the NBS said.     Prices of new houses fell 1.9 percent year-on-year last month but rose 0.1 percent from February. Prices for second-hand houses rose 0.3 percent month-on-month despite of a decline of 0.4 percent from a year earlier.     Analysts warned it was still too early to say the property market had revived, as sales were mainly driven by surging credit and by stimulus policies, such as tax cuts. Other indicators, such as land purchases by developers, had shown no signs of recovery.     Floor areas of newly built houses in the first quarter tumbled 16.2 percent to 201 million sq m. The decline was 1.4 percentage points more than the January-February figure.     Land purchased for homebuilding fell more than 40 percent in the first quarter to 47.42 million sq m, and the actual area developed shrank 11.3 percent to 52.2 million sq m.     China Vanke, the country's biggest property developer by market value, reported on April 11 its first-quarter sales rose 21 percent to 12.22 billion yuan. Those of Poly Real Estate Group, the second-biggest, doubled to 6.48 billion yuan.

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LONDON, Feb. 12 (Xinhua) -- China's mining giant Aluminium Corporation of China (Chinalco) announced here on Thursday it will inject 19.5 billion U.S. dollars in cash into Rio Tinto.     The cash injection is regarded as "firepower" for Rio Tinto, against the global economic downturn, Tom Albanese, chief executive of Rio Tinto, said. Xiao Yaqing, president of Chinalco, said following the signing of an agreement on investment that the investment is a show of confidence in both China and the world, adding that "the strategic partnership with Rio Tinto will prove to be valuable and successful." Xiao Yaqing (L), general manager of Aluminum Corp. of China (Chinalco), shakes hands with Rio Tinto Group chairman Paul Skinner at the signing ceremony in London, Britain, Feb. 12, 2009. Chinalco announced Thursday it would invest 19.5 billion U.S. dollars in mining giant Rio Tinto Group, bailing out the latter while securing for the state-owned Chinese company access to more resources    As the leading Chinese diversified resources company, Chinalco's investment puts more emphasis on potential future values than on short-term returns, Xiao said.     The transaction will forge a pioneering strategic partnership through the creation of joint ventures in aluminium, copper, and iron ore as well as the issue of convertible bonds to Chinalco, which would, if converted, allow Chinalco to increase its existing shareholding in Rio Tinto to about 18 percent.     The transaction is still to be approved by shareholders of Rio Tinto, governments and other regulators.     Albanese said the transaction will position Rio Tinto to lead the resources industry into the next decade and beyond by ensuring the continuity of its strategy.     The new partnership with the Chinese company "will benefit from Chinalco's strong relationships within China, which Rio Tinto believes will continue to be the main driver of growth in commodity markets over the longer term," Albanese said.     He said the Chinalco relationship will also help Rio Tinto to seek project funding from Chinese financial institutions.

BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy.     The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December.     The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year    The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways.     "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month."     "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth."     The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy.     The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence.     Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans.     Medium and long-term corporate loans made up 32 percent.     "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International.     The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year.     The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating.     That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said.     Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006.     The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year.     "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan.     But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

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