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TOKYO, May 1 (Xinhua) -- Japanese Prime Minister Yasuo Fukuda met on Thursday with 10 representatives of Chinese students studying in Japan, delivering friendly messages before the upcoming visit of Chinese President Hu Jintao to Japan.     "We warmly welcome President Hu to Japan," said Fukuda in the talks with the Chinese students at his residence.     He said that despite some problems in bilateral ties, he hoped that the Chinese students will, under whatever circumstances, recognize the importance of Japan-China relations and strive for their development.     China is a major power in the world, and the performance of a major power has direct bearing on world stability, said the Japanese prime minister, adding that Japan hopes to foster a relationship with China that helps make joint efforts for world stability. Li Guangzhe (R), a Chinese student who is also head of the Chinese students' association in Japan, presents to Japanese Prime Minister Yasuo Fukuda an album commemorating the 110th anniversary of Chinese students studying in Japan in Tokyo, May 1, 2008. Japanese Prime Minister Yasuo Fukuda met on Thursday with 10 representatives of Chinese students studying in Japan, delivering friendly messages before the upcoming visit of Chinese President Hu Jintao to Japan    Enquiring about their campus life from time to time, Fukuda encouraged the Chinese students to work hard and make due contributions to the Japan-China friendly relations.     The Japanese government and universities provide Chinese students with very favorable conditions for their study, said Li Guangzhe, a Chinese student who is also head of the Chinese students' association in Japan.     Li said that the Chinese students are determined to play a positive role in promoting China-Japan friendship while studying in Japan.     Chinese President Hu Jintao is scheduled to pay a state visit to Japan from May 6 to 10.

BEIJING, Oct. 6 (Xinhua) -- Chinese Premier Wen Jiabao and his Australian counterpart Kevin Rudd, in a phone conversation on Monday, exchanged opinions on relations between their two countries as well as the international financial crisis and climate change.     Wen spoke positively of the development of the mutually beneficial cooperation between China and Australia.     He said China is willing to work with Australia to intensify coordination and cooperation, and meet the complicated global challenges in a bid to promote harmonious and sustainable development of the world.     The Australian prime minister lauded China's position and active role in handling the international financial crisis.     Rudd said the international community should strengthen cooperation to establish and improve the mechanism to guarantee the transparency and consistency of the international financial system.     Australia would like to work with China to reinforce exchanges and cooperation in international finance and in multilateral and bilateral fields, he added.

BEIJING, July 11 (Xinhua) -- Negotiators in the six-party talks on the Korean peninsula nuclear issue reached a "principled consensus" here on Friday on verifying the declaration of the Democratic People's Republic of Korea (DPRK), a Chinese official said Friday.     The top negotiators discussed the specific principles of setting up a verification and inspection mechanism, as well as economic and energy aid to the DPRK, the Chinese delegation's spokesman Qin Gang told reporters. The Chinese delegation's spokesman Qin Gang answers questions during a press conference held by Chinese delegation of the six-party talks in Beijing, capital of China, July 11, 2008. Qin Gang said that the top negotiators reached a "principled consensus" on Friday on verifying the declaration of the Democratic People's Republic of Korea (DPRK), which is setting up a verification and inspection mechanism, as well as economic and energy aid to the DPRK. The six parties achieved some progress on the verification mechanism, reaching a principled consensus," Qin said, without elaborating. "The specific consensus will be announced very soon."     Despite different interests, concerns and stances, the parties were striving for issuing a joint document at the end of this round of discussion, Qin said.     He said the top negotiators' meeting, which started Thursday afternoon, went smoothly with "sound atmosphere" and "high efficiency." The Chinese delegation's spokesman Qin Gang answers questions during a press conference held by Chinese delegation of the six-party talks in Beijing, capital of China, July 11, 2008. The heads of delegations meeting would continue Saturday morning, Qin said. "We have made some progress so far...hope we could see a document contain consensus of all parties and measures of next phase when the meeting conclude."     The parties were trying to finish the meeting on Saturday as scheduled, Qin said. "Each delegation is working toward that goal, not only to end tomorrow but to end with results."     On Friday's meeting, negotiators also exchanged views on establishing the peace and security mechanism in northeast Asia.     Besides, the working groups of denuclearization and economic and energy aid held a meeting respectively, mapping out the measures to implement the consensus reached by heads of delegations, Qin said.     The current meeting, held after a nine-month stalemate, came after the DPRK handed over the long-awaited nuclear declaration list late June and then blew up a cooling tower in its main nuclear reactor at Yongbyon.     The six-party talks, launched in 2003, included China, the United States, DPRK, Republic of Korea, Russia and Japan.

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GENEVA, July 19 (Xinhua) -- Related parties should enhance diplomatic efforts and show flexibility in order to find a negotiated solution to the Iranian nuclear issue, a senior Chinese diplomat said here on Saturday.     "Currently there is a rare opportunity for promoting the resumption of negotiations on the Iranian nuclear issue," said Chinese Assistant Foreign Minister Liu Jieyi, who represented China at a meeting here with Iran's top nuclear negotiator Saeed Jalili.     "Enhanced diplomatic efforts and flexibility are needed for an early resumption of negotiations so that a long-term, comprehensive and appropriate solution could be found for the nuclear issue," he said.     Saturday's meeting was led by EU foreign policy chief Javier Solana and attended by senior diplomats from the United States, Russia, China, Britain, France and Germany.     The United States was represented by Undersecretary of State William Burns at the meeting. His participation was seen as a shift of long-standing U.S. policy toward Iran, as Washington had always insisted that it would not talk with Tehran unless it halts its uranium enrichment activities.     "It's highly significant that for the first time the political directors of all six countries with Solana were talking with our Iranian colleagues," Liu told reporters.     "It was the shared hope of all parties participating in the meeting that we find a negotiated solution to the nuclear issue," he said.     Both Solana and Jalili said Saturday's meeting was positive and constructive and promoted understanding of each other's positions.     They also agreed to talk again by phone or in person in about two weeks.     At the meeting, Iran failed to give a clear answer to a package of incentives presented by the six countries last month over the resumption of nuclear negotiations.     "We hope very much we get the answer and we hope it will be done in a couple of weeks," Solana told a press conference following the meeting.     The package of incentives suggests that Iran get a temporary reprieve from economic and financial sanctions in exchange for freezing its enrichment activities. Preliminary negotiations over a permanent halt could then begin.     "The package is supported by all six powers ... we think if negotiations could be resumed on this basis and finally a negotiated solution could be found, it will be a very good way out," Liu said.

 BEIJING, May 31 (Xinhua) -- The 28-year-old policewoman Jiang Min has become a national model for her devotion to quake victims while her own mother and two-year-old daughter died in the devastating May 12 earthquake.     Jiang was received by Zhou Yongkang, secretary of the Central Committee for Political and Legislative Affairs of the Communist Party of China (CPC), at Zhongnanhai, the leadership compound in downtown Beijing, on Saturday afternoon. Zhou Yongkang, secretary of the Central Committee for Political and Legislative Affairs of the Communist Party of China (CPC), shakes hands with the 28-year-old policewoman Jiang Min at Zhongnanhai, the leadership compound in downtown Beijing, May 31, 2008. Jiang Min has become a national model for her devotion to quake victims while her own mother and two-year-old daughter died in the devastating May 12 earthquake.  (Xinhua Photo)    Many police officers risked their own lives to save others and help suffering victims after the major quake, said Zhou, also a member of the Standing Committee of CPC Central Committee Political Bureau, "You are one of them. You have been on the frontline to assist quake victims when bearing great pains of losing the beloved. All of us should learn from you."     A day after the quake, Jiang learnt that ten members of her family living in Beichuan county, one of the worst-hit areas, passed away including her only daughter.     She was working as a police officer in the neighboring city Pengzhou.     "I felt that the sky was falling. I can't believe that. I had just talked with my baby girl on phone a day ago," she once recalled the dark moment in an interview.     But Jiang did not leave her post as more and more displaced people came to Pengzhou from quake-hit areas and the police had to help them settle down. In the week following the earthquake, she had worked at temporary shelter camps and barely slept until she fainted on the spot and was sent to hospital.     Jiang has showed the best of Chinese police officers, Zhou said.     He hoped that local police officers and those from other parts of China to assist quake relief would stick to such a noble spirit to work together and well serve their duty in a bid to help create a stable society in the quake-affected areas.     Jiang said she would not fail the Party and people's expectation and work harder in her own post.

BEIJING, Oct. 4 (Xinhua) -- The ongoing global financial turbulence will have a limited impact on China's banks and financial system in the short run, according to officials and experts.     "We feel China's financial system and its banks are, to the chaos developed in the U.S. and other parts of the world, relatively shielded from those problems," said senior economist Louis Kuijs at the World Bank Beijing Office.     He told Xinhua one reason was that Chinese banks were less involved in the highly sophisticated financial transactions and products.     "They were lucky not to be so-called developed, because this (financial crisis) is very much a developed market crisis." Farmers harvest rice in 850 farm in Northeast China's Heilongjiang Province on Sept. 26, 2008.    A few Chinese lenders were subject to losses from investing in foreign assets involved in the Wall Street crisis, but the scope and scale were small and the banks had been prepared for possible risks, Liu Fushou, deputy director of the Banking Supervision Department I of the China Banking Regulatory Commission, told China Central Television (CCTV).     Chinese banks had only invested 3.7 percent of their total wealth in overseas assets that were prone to international tumult, CCTV reported. The ratio of provisions to possible losses had exceeded 110 percent at large, state owned listed lenders, 120 percent at joint stock commercial banks and 200 percent at foreign banks.     Kuijs noted most of the banks resided in China where capital control made it more difficult to move money in and out. Besides, the country's large foreign reserves prevented the financial system from a lack of liquidity, which was troubling the strained international markets.     "At times like this, one cannot rule out anything," he said. "But still we believe the economic development and economic fundamentals in China are such that it's not easy to foresee a significant direct impact on the financial system."     However, he expected an impact on China's banks coming via the country's real economy, as exports, investment and plans of companies would be affected by the troubled world economy and in turn increase pressure on bad loans.     Wang Xiaoguang, a Beijing-based macro-economist, said the growing risks on global markets would render a negative effect on China in the short term but provided an opportunity for the country to fuel its growth more on domestic demand than on external needs.     He urged while China, the world's fastest expanding economy, should be more cautious of fully opening up its capital account, the government should continue its market reforms on the domestic financial industry without being intimidated.     Chinese banks had strengthened the management of their investments in overseas liquid assets and taken a more prudent strategy in foreign currency-denominated investment products since the U.S.-born financial crisis broke out, CCTV reported.

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HARBIN, July 24 (Xinhua) -- A senior Chinese official has called for carrying on ideological emancipation, persisting in the reform and opening-up policy, pushing forward scientific development and making new breakthroughs in promoting social harmony, to promote rapid and sound economic and social development.     Li Changchun, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during an inspection tour in Heilongjiang Province from July 20-23, in the company of the provincial CPC chief Ji Bingxuan and governor Li Zhanshu. Li Changchun (L1), a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, talks to staff at Donghu community during an inspection tour in Heilongjiang Province July 22, 2008He urged the northeastern province to seize the opportunity for industrial revival.     Li visited villages, communities, factories and cultural organizations in the cities of Mohe, Heihe, Daqing and Harbin.     In Mohe, the country's northeasternmost town, the official paid a visit to the Beiji (Polar) Village, where he learned that local villagers now have cable TV. He also visited Daqing, China's largest oil production base and Harbin, the provincial capital.     Local governments should build more public cultural facilities, he said.     He urged the province to deepen its cultural restructuring, support multi-talented professionals and develop cultural products with brand names that were recognized at home and abroad.     In Daqing, Li also visited the memorial to Iron Man Wang Jinxi, an oil worker who devoted his life to the development of the petroleum industry.     Daqing, a city built on the vast oil field, is known for the "Daqing Red Flag", a model set for all industries in the country by late leader Mao Zedong.

BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis.     The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said.     "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council.     "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua.     OUT OF SLOWDOWN CONCERNS     The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25.     Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint.     Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua.     Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October.     China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters.     Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses.     Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating.     The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February.     "Inflation is no longer a threat with the declining commodities prices," Tang said.     The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook."     TAX CUT TO BOOST DEMAND     In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday.     China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007.     The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences.     The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said.     GLOBAL COORDINATED RESPONSE     The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said.     Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis.     The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent.     Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions.     Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.

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BEIJING, July 7 -- Chinese state-owned banks, including Industrial & Commercial Bank of China, intend to boost the contribution of the credit card business to their profits as they tap the rising demand to use plastic to pay for purchases.     ICBC, the country's biggest lender, expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million now, Li Weiping, president of the Beijing-based bank's card center, told Shanghai Daily on Saturday in Shanghai. Industrial & Commercial Bank of China Ltd expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million nowThe country's biggest bank, which had earlier planned to boost card number to between 35 million and 38 million, expects to achieve the target, going by the pace of its card issuance in the first half, Li said. The credit card business accounts for about 10 percent of the bank's intermediary business, or fee-based income, and is one of the main contributors.     Chinese banks are shifting from its traditional deposit-lending business as they expand their profit avenues.     ''We expect the contribution (of credit cards to profit) to grow by 2 to 3 percentage points annually,'' Li said.     ICBC is among the country's "big four" state-owned banks to speed up the credit card business while their smaller joint stock rivals have already an edge in the market.     China Merchants Bank, the sixth biggest lender on the Chinese mainland, has one-third share of the credit card market. Other state-owned banks, including Agricultural Bank of China, said they are seeking growth as they pursue prudent risk control.     China Construction Bank expects to break even on its credit card business next year, said Wu Huitao, deputy general manager of the bank's credit card center. CCB targets card numbers at 20 million at the end of this year, from 16 million now, Wu said.     Credit cards will be the most important consumer credit product after mortgages, with profit forecast to reach US.6 billion by 2013, accounting for 22 percent of total consumer credit profits, said New York-based McKinsey & Co.