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BEIJING, March 11 (Xinhua) -- The Bank of China (BOC) plans to issue new Hong Kong-listed H shares, about 20 percent of its current H shares, as soon as possible, said BOC Board Chairman Xiao Gang Thursday.But the BOC had to wait for approvals from shareholders and securities regulators on the mainland and in Hong Kong, Xiao said.The BOC, China's third largest bank by market value, in January declared it would sell no more than 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The BOC currently had no acquisition plans in China or overseas, Xiao said.The biggest credit risks lied in the local governments' financing units and the BOC was tightening loans to these units, he said.

BEIJING, Jan. 29 (Xinhua) -- Principled consensus was reached between China, European Union Naval Force, the North Atlantic Treaty Organization (NATO) and the Combined Maritime Forces (CMF), China's Ministry of National Defense said on Friday.The consensus, outlining the shipping escort cooperation based on "areas of responsibility" in the Internationally Recommended Transit Corridor (IRTC), was approved Thursday at the the plenary meeting of the Contact Group on Piracy off the Coast of Somalia in New York, said a statement from the ministry.Previously, China had suggested cooperation be based on "areas of responsibility" under the UN Security Council resolutions while EU, NATO and CMF proposed coordination guidelines of the IRTC.China and the three parties conducted rounds of consultations at the contact group meeting, international coordination meeting in Beijing and the Shared Awareness and Deconfliction (SHADE) system meeting in Bahrain.The final principled consensus absorbed components of "areas of responsibility" in escort missions cooperation and the coordination guidelines of IRTC, showcasing concerted effort by all parties.China always takes a positive and open attitude towards international cooperation on shipping escorts, and would like to cooperate with countries and organizations in line with UN Security Council resolutions for peace and stability in the Gulf of Aden and Somalia waters, said the statement.

JAKARTA, Jan. 23 (Xinhua) -- China's State Councilor Dai Bingguo met with Surin Pitsuwan, secretary-general of the Association of South East Asian Nations (ASEAN) here on Friday.Dai highly appreciated the achievement of ASEAN in terms of ASEAN Community construction and its integration development. He said that China as a strategic partner supported the development of ASEAN and was willing to see it show more influence in international affairs.He said that the relationship between China and ASEAN had gone steadily, and the two sides had achieved plenty fruits in their cooperation. "As the China-ASEAN free trade zone went into operation on Jan. 1, the two sides saw their economic and trading cooperation entering into a comprehensive and deepening development stage, which provides more benefits to their people," said the visiting State Councilor.Dai added that the cooperation between China and ASEAN follows the development trend and people's wishes, and it would improve the peace and development of Asia-Pacific region, while the economic globalization and regional integration were being accelerated.He said China had attached great importance to its relationship with ASEAN. According to him, Chinese Premier Wen Jiabao declared a series of important initiatives on further strengthening China- ASEAN cooperation at the recent China-ASEAN summit. China is willing to join hands with ASEAN nations to fulfill these initiatives, expand and deepen communication and cooperation with them, share the opportunity, face the challenges, achieve win-win, and create a brighter future for the China-ASEAN strategic partnership, and contribute to the common development and prosperity of Asia.Dai also said that China as a member of East Asia family always proposed and supported East Asia cooperation. With a diversification, East Asia has many cooperation system existed. China advocates opening up and make each system to support and improve others with its own advantages. China welcomes countries outside East Asia to make efforts for the peace and development, with the cooperation between ASEAN and China, Japan and South Korea as a main channel and ASEAN working steadily as a guiding force.Surin said that the ASEAN-China relationship developed fast with many active, innovative and prominent achievements. According to him, China acted positively against the international financial crisis with a responsible attitude, which contributes significantly to the stability and recovery of Asia and world's economy.He added that the ASEAN nations appreciated the support and assistance from China, and was believing they could benefit from China's Development.The secretary-general said that ASEAN expected to join hands with China in the development of ASEAN-China free trade zone, enhance cooperation in more areas, realize mutual benefit and win- win, and improve the stability and prosperity in this Region. "We are confident about the future of ASEAN-China free trade zone," said Surin.

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ay station ticket lobby.     Under the new rule, ticket check might take much longer time at the railway station. Unlike an airplane that can only carry hundreds of passengers, a train normally carries 2,000 passengers and it will take long time to get all passengers aboard.     Possible delays at the train station might cause security problems, said a railway ministry official at a press conference late last year.     Fake identity cards or documents will be another problem.     According to the statement issued by the Ministry of Railways, besides ID cards, other identification documents such as diplomat certificates, military IDs, and consulate certificates, are all applicable when purchasing a ticket.     As most of these certificates couldn't be checked online, some netizens questioned if the ticket sales staff could tell the difference between a real certificate and a fake one.     "To improve the efficiency of ticket check, we have added another 100 ticket entrances and 3,000 ticket check staff at the train station," said Huang Xin, director of passenger service department of Guangzhou Railway Group said.     The Guangzhou Railway Group also started to use a new ID recognition system, including an ID card reader, a camera and a printer, to shorten the ID verification time.     "The real-name system aims to crack down on scalpers," Huang said," We're sorry for the inconveniences that might be caused by the trial. But We badly need understanding and support from passengers." People enter the Beijing West Railway Station in Beijing, capital of China, Jan. 17, 2009. Tens of millions of Chinese are traveling to their home towns or vacation spots for the Lunar New Year, or the Spring Festival, which falls on Jan. 26 this year

UNITED NATIONS, March 24 (Xinhua) -- China on Wednesday voiced its support for the international efforts to promote the Middle East peace process, saying it will continue to play a constructive role in working with the international community for durable, comprehensive and fair solution in the Middle East.The statement came as Li Baodong, the Chinese permanent representative to the United Nations, was speaking to reporters here after the UN Security Council met on the current situation in the Middle East.Li said that China is deeply concerned about the long-stalled peace process in the Middle East. "We believe that it's very important to restart the peace process," he said. Li Baodong, Chinese permanent representative to the United Nations, speaks to reporters after the UN Security Council met on the current situation in the Middle East at the UN headquarters in New York, the United States, March 24, 2010. China on Wednesday voiced its support for the international efforts to promote the Middle East peace process, saying it will continue to play a constructive role in working with the international community for durable, comprehensive and fair solution in the Middle East"In that regard, we support the efforts made by (UN) Secretary- general Ban Ki-moon for Quartet and other parties to bring back the peace process on track."It is of paramount importance now to all parties concerned is to refrain themselves from taking proactive actions, he said."In China, we will be playing very important and constructive role along with the international community and strive for durable, comprehensive and fair solution in the Middle East," he said.

BEIJING, March 16 (Xinhua)-- The China "Summer Davos" summit, due to be held in September in the north China city of Tianjin, will again focus on sustainability and the green economy, said Andre Schneider, managing director of the World Economic Forum (WEF), Tuesday.The detailed agenda would be designed to meet the changing new growth context with more discussion of new business models and technical innovations, Schneider said in a press briefing in Beijing.The "Summer Davos" 2010, or the fourth Annual Meeting of the New Champions, would be a continuation of the third-round meeting last year, which had focused on the way out of crisis, said Schneider.With the theme, "Driving Growth Through Sustainability," this year's summit, from Sept. 13 to 15, is expected to attract more than 1,500 participants, including business executives, politicians, economists and scientists from about 90 countries.On the global economy picture, Schneider said the deep financial and structural roots of the "Great Recession" made it difficult to predict the shape of future growth.Schneider said the future also remained unclear for advanced economies, which the Organization for Economic Cooperation and Development forecast, would see a possible 10-percent unemployment rate in the second half of this year.Though the emerging and developing economies accounted for almost 50 percent of global GDP, their growth was not decoupled from the rest of the world, said Schneider.

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BEIJING, Feb. 10 (Xinhua) -- The Overseas Chinese Affairs Office of the State Council on Wednesday extended Chinese Lunar New Year greetings to all overseas Chinese, returned overseas Chinese and their relatives.Li Haifeng, director of the Overseas Chinese Affairs Office, said in a New Year speech that 2009 was a special year, in which China withstood the impact of international financial crisis and cross-Strait relations showed momentum for peaceful development."We sincerely hope that overseas Chinese will continue to contribute to the great cause of peaceful reunification of China," she said.Li extended best wishes for the Spring Festival -- which falls on Sunday -- to Chinese all over the world and promised that overseas Chinese affairs offices at all levels would continue to improve services to overseas Chinese and protect their rights.

YINCHUAN, March 23 (Xinhua) -- Chinese President Hu Jintao has called for more efforts to promote social, economic development in the underdeveloped western areas of the country.Hu made the call during his three-day visit to northwestern Ningxia Hui Autonomous Region from Sunday to Tuesday.This year marks the tenth anniversary of China's campaign to develop the west.Hu said the past decade witnessed a good beginning of and laid a solid foundation for the "West Development" drive and the next decade would be a crucial period for pushing forward the campaign. Chinese President Hu Jintao (R) visits Shizuishan City, Ningxia Hui Autonomous Region. Hu Jintao called for more efforts to promote social, economic development in the underdeveloped western areas of the country during his three-day visit to northwestern Ningxia Hui Autonomous Region from March 21 to 23To develop the west would remain one of the priorities in the 12th five-year plan starting 2011, during which the central government would provide more favorable policies and greater funds to western areas, Hu said.He called for transforming the economic growth pattern, and improving people's livelihood, as he visited local factories, farms, renovated shanty-towns and new villages housing farmers that had migrated to from virtually uninhabitable areas.In his visit to a successful company which manufactures rare metal products, Hu said the central government attached strategic importance to developing the new material industry. He called on companies to innovate technology, produce new products and implement new management practices.

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BEIJING, Feb. 23 (Xinhua) -- Danish Prime Minister Lars Loekke Rasmussen earlier this month expressed his appreciation for Chinese Premier Wen Jiabao's important and constructive role in the Copenhagen conference, a Chinese Foreign Ministry spokesman said Tuesday.Rasmussen made the remarks in a letter to Wen on Feb. 12, said spokesman Qin Gang at a regular press conference.Premier Wen on Jan. 29 wrote a letter in reply to Rasmussen concerning the Copenhagen Accord, reiterating China's support for the Accord and the country's climate change commitments.Wen said in the letter that the Copenhagen Accord which resulted from the UN climate change conference in the Danish capital last year laid the foundation for advancing international cooperation on climate change and enabled future negotiations to take place.Rasmussen replied on Feb. 12 that he fully agreed with Wen on his evaluation, saying that he was inspired by China's support for the Accord, Qin said.The Chinese government had reported its emission cuts progress to the Secretariat of the UN Framework Convention on Climate Change (UNFCCC), reaffirming a reduction of carbon dioxide emission intensity per unit of GDP by 40 to 45 percent by 2020 against 2005 levels.Rasmussen welcomed the China's emission cuts progress. He also agreed with Wen on adhering to the main role of the UNFCCC in future negotiations, Qin said.China hoped Denmark, as chair of the Conference of UNFCCC Parties, would continue to play a positive role, Qin said, noting that the country would maintain contacts with Denmark.In Tuesday's press conference, Qin also responded to a question related to UN climate chief's announcement of resignation.Yvo de Boer has announced last week that he will resign his position as Executive Secretary of the UNFCCC as of July 1 this year.Qin said de Boer had contributed positively in organizing and serving the international negotiations on climate change since assuming his current post in 2006.China had cooperated well with the UNFCCC secretariat, and supported de Boer's efforts, Qin said. He said he hoped that de Boer would continue his contribution to tackling climate change in his new job.De Boer would be joining the consultancy group KPMG as Global Adviser on Climate and Sustainability, as well as working with a number of universities, according to a statement by the United Nations.

BEIJING, March 12 (Xinhua) -- China's central bank said Friday a stronger yuan offers no help for solving the Sino-U.S. trade imbalance problem, and China opposes politicizing yuan's appreciation.Su Ning, vice governor of the People's Bank of China, made the comments a day after U.S. President Barack Obama told the U.S. Export-Import Bank's annual conference that a more market-oriented exchange rate of yuan will make an essential contribution to global rebalancing efforts."We do not think a country should rely others to solve its own problems," Su, a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee, said on the sidelines of the top political advisory body's annual session.The U.S. Department of Commerce said on March 11 that the U.S. trade deficit with China increased to 18.3 billion U.S. dollars in January from 18.14 billion U.S. dollars in December. The increase renewed the U.S. call for a stronger yuan as it claimed the current exchange rate gives Chinese goods unfair price advantages.Su said although yuan has gained more than 20 percent since it depegged the U.S. dollars in June 2005, China's trade surplus tripled from 100 billion U.S. dollars in 2004 to nearly 300 billion U.S. dollars in 2008.In addition, he argued, a weaker U.S. dollar does not help cut the U.S. deficit. As the U.S. dollar depreciated by 3 percent annually in average between 2002 and 2008, its deficit soared from 500 billion U.S. dollars to 900 billion U.S. dollars, Su said.Tan Yaling, a financial researcher with Peking University, said as nations have different roles in international trade and differ in resources, what they produce, consume and want can be very different."It is unfair that the United States, on the one hand, consumes cheap Chinese goods, while on the other hand, it blames the low prices for causing their domestic job losses," she said.The Obama administration's continuous calls for a stronger yuan is actually aimed at diverting attentions from its domestic woes, experts said.To grapple with high unemployment rate and uncertain recovery prospects, Obama has to do something on job promotion to secure victory in the mid-term election in November this year, said Chen Zhiwu, a financial professor with Yale University.To curb soaring unemployment and boost growth, Obama has announced a special task force on a mission of doubling the U.S. exports in five years, as he said the U.S. can not "stand on the sidelines," as other countries are busy negotiating trade deals.Cheng Enfu, a deputy to the National People' s Congress (NPC), China' s top legislature, said the consistent pressure from the United States is simply because of its pursuit of national interests."Over-fast appreciation of yuan does no good to the global economic recovery which is still fragile and uncertain," he said.Zhu Yuchen, also an NPC deputy, said as China plays a leading role in global economic recovery, any drastic policy change will not only impair China's economy, but also the global recovery, which is not a responsible way.President Obama's remarks also came a month ahead of a semiannual Treasury Department report that could label China as a currency manipulator.Premier Wen Jiabao said in the government work report delivered to the NPC on March 5 that China will keep the yuan "basically stable" at an "appropriate and balanced" level.HEFTY SURPLUS, BUT SLIM PROFITSAlthough China has accumulated massive trade surplus over the past decades, that does not indicate the same profits, as more than half of China's exporters are foreign invested, lawmakers said.Figures released by the Ministry of Commerce showed 55.2 percent of China's foreign trade was completed by foreign-invested businesses last year. And 56 percent of the exports were done by foreign companies in China.Cheng Enfu said China only pockets paper-thin profits from the very end of the manufacturing chain, or processing and assembling work. However, the United States earn handsome profits from designing and distribution.According to a study by researchers of the University of California, of the 299 U.S. dollars retail value of a 30-gigabyte video iPod in the United States, 163 U.S. dollars is captured by American companies and workers, and 132 U.S. dollars go to parts makers in other Asian countries, while the final assembly, done in China, cost only about 4 U.S. dollars a unit."Even though Chinese workers contribute only about 1 percent of the value of the iPod, the export of a finished iPod to the United States directly contributes about 150 U.S. dollars to our bilateral trade deficit with the Chinese," Hal R. Varian, a professor of the University of California at Berkeley, wrote on the New York Times on June 28, 2007.Cheng Enfu noted it needs to upgrade exports product mix to fundamentally reverse China's disadvantages. That is, to export more profitable self-innovative products, rather than labor-intensive processing goods.