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BEIJING, Feb. 22 -- China's stock markets are likely to be fully open to foreign investors within 15 years, according to a leading investment expert.Direct foreign dealing in Chinese stocks is currently restricted through the government's Qualified Foreign Institutional Investor (QFII) scheme.The current annual quota for overseas funds is just billion, a small fraction of the total investment in China's main exchanges in Shanghai and Shenzhen.Stuart Leckie, chairman of Stirling Finance, a leading Hong Kong-based pensions investment adviser, said all restrictions could be off by 2025."All financial institutions will then be able to invest in the stock markets on the Chinese mainland, just as they do in Hong Kong, Japan or any other market," he said."It is 30 years since China's opening up and it will take half as long again for this to happen."He said the Chinese mainland would gradually lift barriers in the same way Taiwan and India have done in recent years.Leckie, author of the book, 'Pensions in China', and who was speaking at the Trade Tech 2010 Investment Conference, was bullish about the outlook for the Chinese market.He said the Shanghai Composite Index could double within the next three years and that it was a matter of if, not when, it returned to its all-time high of 6,124 in October 2007."I am sure the index will double over the next five years but there is a chance it will double in the next three years," he said.Other speakers at the conference were also optimistic about the outlook for investors in Chinese stocks. Michael Wang, head of dealing at the China International Fund Management said the Chinese market was full of opportunities."It is a golden opportunity to invest in China. Blue chip companies are still very cheap," he said. "In the medium term there might be some correction but we won't go back to 2006 levels (when the market was just over the 1,000 level)."Kent Rossiter, head of trading, Asia Pacific, for fund manager RCM, based in Hong Kong and which is part of the Allianz Group, was also confident. "I am really bullish about opportunities. I am worried about volatility, however," he said.Rossiter said some of the volatility was down to the inexperience and lack of competence of some professional investors in the Chinese market."The market needs to develop," he said. "Professional investors need to improve their performances. They have too much of the same mentality as the man on the street in that they just like to buy and sell without taking any view."Leckie added that the Chinese market was not about to repeat the experience of the Nikkei Dow in Japan."China is not about to become another Japan with the level of the index standing at a quarter of what it was 20 years ago."He was not concerned about the poor start to the Chinese markets in 2010 with the major index losing 8 per cent of its value in January and falling through the 3,000 barrier. It increased by 80 per cent in 2009. "Obviously China has got off to a weak start. It was the second worst performing market internationally in January after being the best performing in 2009. It is just living up to its reputation as a volatile index."He said he expected the market, however, to rise by up to 15 per cent in 2010 to a value somewhere between 3,600 and 3,800 from its January 1 level of 3,277. "I think this January decline is overdone."

TAIYUAN, Feb. 21 (Xinhua) -- Tens of thousands of people in north China's Shanxi Province flooded onto the streets Saturday afternoon and stayed until Sunday morning after earthquake rumors spread in the coal-rich region recently hit by a 4.8-magnitude quake.Major streets, parks and squares in cities like Jinzhong, Luliang, Changzhi, Yangquan and Taiyuan filled with anxious people and private cars. In rural areas, many villagers went out in the open air with their personal property, such as TVs.The Shanxi Provincial Seismological Bureau issued an urgent statement Sunday morning, asking residents to keep calm and not to believe in the quake rumor."According to the quake forecast regulation, only the provincial government can release quake forecast information. Other organizations and individuals are not authorized to do so," the statement said.The bureau is using TV, radio, Internet and text messages to clarify the situation and calm the residents.Meanwhile, local police are investigating the incident and trying to find out the source of the rumor.On Jan. 24, a 4.8-magnitude quake struck Yuncheng City in Shanxi.

BEIJING, Feb. 2 (Xinhua) -- China promulgated a regulation Monday requiring meteorological authorities to conduct research on meteorological disasters, in an effort to reduce the damage from natural disasters like sand storms, blizzards, droughts, typhoons and icy weather.The Legislative Affairs Office of the State Council, the Cabinet, said Tuesday in a statement the regulation is designed to better protect people's lives and properties.The regulation, which takes effect April 1, requires meteorological authorities above the county level to conduct research on the frequency, intensity, and impact of meteorological disasters, and to set up a database to better evaluate risks.Schools are asked to teach students how to protect themselves and rescue others during natural disasters under the guidance of educational or meteorological authorities.The regulation also specifies the media's role in the event of meteorological disasters.Media organizations are responsible for the release of disaster warnings and alerts given by the local meteorological centers, the regulation says.Media organizations that fail in their responsibilities, release false information, or release alerts without authorization face fines of up to 50,000 yuan (about 7,322 U.S. dollars), according to the regulation.Media groups must cover the occurrence and development of disasters and emergency situations "timely and correctly", it reads.China is one of the countries most susceptible to natural disasters and 70 percent of disasters occurring in China are meteorological ones, according to the statement.

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BEIJING, Feb. 8 (Xinhua) -- China's top political advisor Jia Qinglin on Monday called for religious believers' role in promoting the country's economic development and social stability.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks when meeting with heads of national religious groups.He urged religious groups in the country to pool the wisdom and strength of believers to explore ways of helping promote economic and social development.He also asked them to help consolidate harmonious religious relations and help religious people build up national consciousness, civic consciousness and legal consciousness to ensure social harmony and stability.During the meeting, Jia, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee,bid greetings to religious believers for the upcoming Lunar New Year, which falls on Feb. 14 this year.He said 2009 was an important year for the country's religious work as the Party's basic policies on religious work were well implemented and people's religious freedom was fully ensured.He said 2010 was a key year to cope with the financial crisis and it was also of great significance for the country's harmony and stability in the religious circle.

BEIJING, Jan. 30 (Xinhua) -- China on Saturday decided to suspend scheduled visits between the Chinese and U.S. armed forces, in response to Washington's plan to sell a package of arms worth about 6.4 billion U.S. dollars to Taiwan. "We made the decision out of considerations on the severe harm of the U.S. arms sales to Taiwan," said Defense Ministry spokesman Huang Xueping in a statement.The U.S. government on Friday announced the plans to sell a package of arms to Taiwan, which include Patriot missiles, Black Hawk helicopters and minesweepers. China immediately expressed strong indignation about the sale after the U.S. government notified the U.S. Congress of the plans.Qian Lihua, director of the Defense Ministry's Foreign Affairs Office, on Saturday summoned the defense attache of the U.S. Embassy in Beijing to lodge a stern protest."The Chinese military expresses grave indignation and strongly condemns such a move to grossly interfere into China's internal affairs and harm China's national security interests," Qian said in a press release of the office.Taiwan issue is related to China's sovereignty and territorial integrity, and concerns China's core interests."The U.S. arms sales to Taiwan gravely violates the three joint communiques between China and the United States, and seriously endangers China's national security and harms China's reunification course," Qian said.The U.S. such move also constitutes severe violation of the agreements reached by the top leaders of both sides on the China-U.S. relations in the new situation, he said.It runs counter to the principles of the joint statement issued during U.S. President Barack Obama's visit to China in November last year, said Qian.The U.S. plan will definitely bring about serious negative impact on the relations between the two countries and militaries, and will to the end severely undermine the interests of the United States itself, he noted.The United States have reiterated in many occasions that it will adhere to the one-China policy, abide by the three joint communiques and support the peaceful development of relations across the Taiwan Straits."However, the United States now takes faithless action to sell arms to Taiwan again," Qian said such plans severely poison the political foundation of the relations between the two militaries, and produce grave obstacles to military exchanges between the two sides.Qian urged the United States to respect China's core interests and concerns, take practical actions to abide by its solemn commitments on Taiwan issue, withdraw its arms sales items to Taiwan, and stop military links with Taiwan, in order not to create further damage to the relations between the two countries and the two militaries and to the peace and stability across the Taiwan Straits."We reserve the right of taking further actions," he noted.According to Huang, the spokesman, "such a move is gravely against especially the 'Aug. 17' communique signed in 1982."The U.S. side states in the Communique that "it does not seek to carry out a long-term policy of arms sales to Taiwan" and "intends to reduce gradually its sales of arms to Taiwan, leading over a period of time to a final resolution.""We will never give in or compromise in this issue," the statement quoted Huang as saying, noting that the Chinese military will firmly fight against any move to destroy China's national sovereignty security and territorial integrity.

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BEIJING, Feb. 26 (Xinhua) -- The Singapore-flagged tanker Pramoni, hijacked off the Somali coast last month, was escorted by a Chinese vessel to the safe waters on Friday, said the Chinese Foreign Ministry."At the request of the Singaporian side, the Chinese 'Chaohu' navy ship successfully conducted the escort mission," said a statement issued by the Foreign Ministry Friday night."All crew onboard the Singapore-flagged chemical tanker are safe and sound and emotionally stable," the statement said, without specifying the route or length of the escort mission.The cargo ship, with five Chinese sailors among the 24 crew onboard, was hijacked by Somali pirates in the Gulf of Aden on Jan. 1."The Chinese escort mission provided the released vessel with necessary supplies and medical assistance," the statement said.Pramoni's captain thanked the captain and crew of the Chinese vessel helping with the escort.China sent its first escort mission to the Gulf of Aden off Somalia in early 2009. Its fourth mission is now part of a multinational coalition of warships patrolling the pirate-infested area.

DAVOS, Switzerland, Jan. 28 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday called for international efforts to promote the sound recovery and sustained development of the world economy in the post-crisis era.In a keynote speech delivered at the annual meeting of the World Economic Forum in the eastern Swiss ski resort of Davos, Li said the theme of the meeting "Rethink, Redesign, Rebuild" embodies the spirit of cooperation and innovation to discuss means of world economic development in the post-crisis era.He introduced the measures China had taken to deal with the international financial crisis, its achievements and China's intended follow-up economic policies.The vice premier said the crisis did not change the fundamentals and long-term positive trend of China's economic development.Chinese Vice Premier Li Keqiang delivers a speech in the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 28, 2010"Last year, we acted with resolve and confronted challenges head-on, and succeeded in ensuring steady and fast economic growth. As we draw plans for this year, we are confident that we can stay on top of the complicated situation and maintain steady and fast growth of the Chinese economy," said Li."Looking ahead, we are well positioned to achieve long-term, fast and steady economic growth."China needs to follow a scientific outlook on development -- accelerating essential transformation of economic growth pattern, intensifying strategic adjustment of economic structure and endeavoring to explore new development models, he told the world's leading business executives and political leaders.As a responsible and big developing country, China will stick to its unswerving path of peaceful development and mutually beneficial opening-up strategy, work together with other countries to promote the building of a harmonious world with sustained peace and common prosperity, he said.The international community had scored initial achievements by working together to cope with the financial crisis, which struck over a year ago, he said.Countries, whose fates are closely connected with each other, should further share responsibility and enhance cooperation under the complicated situation.Chinese Vice Premier Li Keqiang delivers a speech in the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 28, 2010. Li laid out a five-point proposal regarding world economic recovery and sustained development in the post-crisis era."First, we should continue to work together and prevail over the crisis. In a globalized world, the economies of all countries are interdependent and mutually reinforcing," said the Chinese vice premier.The policies of one country can well impact those of others. Only when global economic recovery is achieved can the recovery of national economies be secured, he said.The recent concerted responses by various countries have reduced the severe impact of the international financial crisis and prevented the occurrence of a serious recession, he said.The crisis is not over yet and the foundation for economic recovery is still weak. Continued cooperation among countries is needed to avoid twists and turns and reduce risks in the course of recovery, said Li."Second, we should promote more open market," Li said. The international community should firmly fight protectionist practices, translate commitments into real actions and continue to advance trade and investment liberalization and facilitation, he added."Third, we should promote balanced development of the world," said Li. Efforts should be made to strengthen South-South cooperation and North-South cooperation, improve international mechanisms to promote balanced development, scale up assistance to developing countries and realize the UN Millennium Development Goals on schedule so as to deliver the benefits of development to people in all countries."Fourth, we should jointly tackle major challenges. This is our urgent task if we want to ensure sound recovery and sustained development of the world economy," he said.The international community should coordinate actions to meet global challenges like climate change, energy security, food security, public health security and major natural disasters, he said."Fifth, we should improve the structure of global governance," Li said. It is universally recognized that there is a need to improve current structures and develop a more fair and efficient structure of global governance that reflects changes in the global political and economic landscape.The principle of equal participation and inclusive cooperation should be followed in improving global governance. It is imperative to raise the voice and representation of developing countries, said Li.Chinese Vice Premier Li Keqiang delivers a speech in the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 28, 2010A country's right to choose its own development model should be respected, and the primary role of the United Nations and relevant agencies and the constructive role of the Group of 20 should be given a better play, he said.

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BEIJING, March 14 (Xinhua) -- Chinese Premier Wen Jiabao said on Sunday China will strive to make balanced international payment and promote free trade, although protectionism worsens as the global financial crisis deepens."I am a staunch supporter of free trade, since it will not only promote world economic growth, but also improve people's livelihoods," Wen made the remarks at a press conference after the close of the annual parliament session."We will launch new measures to increase imports. We sent purchasing groups to the European Union and the United States when the world was stranded in the most difficult period of time (in the global financial crisis)." he said.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, 2010He said the worsening protectionism amid the world economic slump deserves alerts of all countries."Some countries' moves to shore up exports are understandable. But what I can not understand is they devaluate their own currencies while on the contrary pushing for the appreciation of others' currencies. I think it is protectionism," he said.Wen also said he hopes the United States and European Union recognize China's market economy status, and lift ban on hi-tech exports to China.

BEIJING, Feb. 26 (Xinhua) -- China and Zambia on Friday reaffirmed their commitments to increase the vitality of their decades-old relationship.Top Chinese legislator Wu Bangguo and Premier Wen Jiabao met respectively with Zambian President Rupiah Banda, who was on his first state visit to Beijing since becoming president in 2008. Chinese Premier Wen Jiabao (R) shakes hands with visiting Zambian President Rupiah Banda in Beijing, capital of China, Feb. 26, 2010Zambia was the first southern African nation to forge diplomatic relations with China, Wen said. The two countries' diplomatic ties were established in October 1964.