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BEIJING, July 28 -- China expressed its hope that the U.S. government will be able to cut its budget deficit in order to prevent inflation that could jeopardize the value of China's dollar-denominated assets, as the two countries wrapped up the first of two days of high-level talks here.     "We sincerely hope the U.S. fiscal deficit would be reduced, year after year," Zhu Guangyao, assistant minister of finance, told reporters after the conclusion of the first day of talks, which have been dubbed the U.S.-China Strategic and Economic Dialogue.     "The Chinese government is responsible and first and foremost our responsibility is [for] the Chinese people, so of course we are concerned about the security of the Chinese [dollar] assets," Zhu said.     China holds a total of more than 800 billion U.S. dollars in U.S. treasury debt, making it America's largest foreign creditor.     As a result of recent American efforts to counter the financial crisis and stimulate the economy, U.S. government spending has soared, and is projected to reach 1.84 trillion U.S. dollars this year. That is more than four times the previous high.     Many investors and economists fear this deficit spending will lead to inflation, as the increase in the supply of dollars drives down their value, thereby also reducing the value all dollar-denominated assets, including U.S. Treasury bonds. As a result, some investors have started to buy shorter-term bonds, which they hope will not be impacted by any longer-term inflation driven by increased government spending.     U.S. Secretary of Treasury Timothy Geithner assured the Chinese delegation in his opening remark on Monday that U.S. has taken steps to overhaul its financial system, enhance regulation, and control the deficit.     "We are committed to taking measures to maintain greater savings and to reducing the federal deficit to a sustainable level by 2013," he said. However, Geithner did not reveal how, specifically, the United States planned to achieve its deficit-cutting goals during the dialogue.    Both American and Chinese officials, however, agreed that the economy has begun to slowly stabilize.     "We have agreed that green shoots have emerged in the international economy and financial markets," said Zhu. However, the economic foundation is far from being sound, and the current situation remains severe, Zhu warned.     China's economy has shown solid signs of recovery, with its GDP growth picking up to 7.1 percent in the first half of this year after dipping to as low as 6.1 percent in the first quarter. The country's retail sales growth was 15 percent in the first half of this year, the highest since 1985, according to Ministry of Finance figures.     The two-day talks, which are co-chaired on the Chinese side by Vice Premier Wang Qishan and State Councilor Dai Bingguo, and the U.S. Secretary of State Hillary Rodham Clinton and Secretary of Treasury Timothy Geithner on the U.S. side, covered a wide array of issues, including the global economy, climate change and clean energy as well as regional security issues.     At the opening ceremony on Monday, U.S. President Barack Obama emphasized his hope for closer cooperation between the two countries.     "I believe that we are poised to make steady progress on some of the most important issues of our times," he said. "The relationship between the United States and China will shape the 21st century."

BEIJING, Oct. 13 (Xinhua) -- China and Russia signed 12 agreements, including agreements on natural gas and oil, as the premiers of the two countries held their 14th regular meeting in Beijing on Tuesday.     The signing ceremony was overseen by Chinese Premier Wen Jiabao and his Russian counterpart Vladimir Putin after their talks in the Great Hall of the People in downtown Beijing.     Prior to their talks, Wen hosted a red-carpet welcome ceremony for Putin, who is on his first official visit to China since taking office in May 2008. Chinese Premier Wen Jiabao (R Front) shakes hands with Russian Prime Minister Vladimir Putin (L Front) after signing the joint communique of the 14th regular prime ministers' talks between China and Russia, at the Great Hall of the People in Beijing, capital of China, Oct. 13, 2009The agreements include a framework agreement on Russia's export of natural gas to China, a memorandum of understanding (MOU) on high-speed train and an agreement on mutual notification of ballistic missiles and launch of carrier rockets.     Wen and Putin also reached consensus on cooperation in various fields.     They agreed to enhance political trust, address each other's core interests and major concerns, and support each other's efforts to safeguard sovereignty, security and territorial integrity.     They agreed to deepen trade on machinery and electronic products and oppose trade protectionism.     With regard to energy cooperation, they agreed to work together to make sure the oil pipeline, running from Skovorodino, Russia, to China's northeastern city of Daqing, could be completed by the end of 2010 and start stable oil supply in 2011.     They said the two countries decided to launch the west and east lines of the gas project simultaneously in a bid to start supplying gas between 2014 and 2015.     They agreed to enhance cooperation between localities by implementing an outline of regional cooperation between Northeast China and the Russian Far East Area and Eastern Siberia.     The two sides also agreed to step up coordination in international affairs to deal with the global challenges, jointly promote the establishment of a new international financial order and improve representation of the developing countries and emerging economies.     During his talks with Putin, Wen said Putin's visit at the 60thanniversary of the establishment of Sino-Russian ties is of great significance.     Bilateral relations have become stable and mature since the forging of diplomatic ties 60 years ago and particularly the establishment of the Russia-China strategic cooperative partnership in 1996, Wen said.     The level of political mutual trust, strategic and practical cooperation between the two countries has been improved continuously and yielded many achievements, effectively advancing the development of bilateral ties and positively influencing world peace and development, he said.     The Sino-Russian relations are role models of relations between neighboring countries and relations between big powers, said Wen, adding that China is willing to work with Russia to make greater achievements in the future.     Putin warmly congratulated the 60th anniversary of the founding of New China, saying China has achieved great success in various areas in the past 60 years.     Russia and China have become genuine and comprehensive strategic and cooperative partners in recent years, he said.     The two sides have carried out cooperation in politics, economy and international affairs with mutual trust, and the bilateral economic cooperation has withstood the test of the global financial crisis, Putin said. Chinese Premier Wen Jiabao (R Front) and Russian Prime Minister Vladimir Putin (L Front) meet the entrepreneurs' delegates who are here to attend the Fourth China-Russia Economic and Trade Summit Forum at the Great Hall of the People in Beijing, capital of China, Oct. 13, 2009. Later Tuesday, Wen and Putin also met with the business people who attended a China-Russia economic forum.     Before the forum, Chinese Vice Premier Zhang Dejiang and his Russian counterpart Alexander Zhukov attended the signing of deals worth 4 billion U.S. dollars between financial institutions and enterprises of the two countries.     "China-Russia trade has seen fruitful results and has brought tangible benefits to the two countries," said Wen.     Wen hoped the business people from the two countries should take the opportunities and make joint efforts to tackle the global economic downturn. Chinese Premier Wen Jiabao (2nd R) and Russian Prime Minister Vladimir Putin (3rd L) meet the entrepreneurs' delegates who are here to attend the Fourth China-Russia Economic and Trade Summit Forum at the Great Hall of the People in Beijing, capital of China, Oct. 13, 2009

BEIJING, Sept. 27 (Xinhua) -- Chairman Ning Gaoning of China National Cereals, Oils & Foodstuffs Corporation (COFCO), said Sunday the corporation's total investment in the northwestern Xinjiang Uygur Autonomous Region would reach 10 billion yuan (1.46 billion U.S. dollars) over the next five years.     Ning made the remarks during his visit to the Xinjiang-based subsidiary companies of the corporation, the country's largest oil and food producer.     Currently, COFCO's accumulative investment in the region is about 5 billion yuan, focused on tomato processing, sugar manufacturing, and beverages.     Ning said the corporation would double investment over the next five years due to confidence in the region's growth potential, but did not say for which the future investment would be targeted.     In 2005, COFCO made an investment in Xinjiang's Tunhe Investment Co., Ltd. by taking over a 37.2 percent share of Tunhe. So far COFCO Tunhe has become the largest tomato ketchup producer in Asia, and the second largest in the world.

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WASHINGTON, Aug. 6 (Xinhua) -- Chinese tire producers, who are facing proposed sanctionative tariffs from the U.S. authorities, appeal for "fair ruling" from the U.S. government, a Chinese tire industry representatives told Xinhua in an interview on Wednesday.     "The proposed sanction against Chinese tire export to the U.S. market will cause a lose-lose situation on both countries," said Mary Xu, deputy secretary general of the China Rubber Industry Association and the leading member of a Chinese tire producers delegation in Washington.     "We have filed much evidence demonstrating that Chinese tire imports do not injure the U.S. tire industry. The restriction of the Chinese tires cannot solve any problem faced by the U.S. tire industry, and further would hurt U.S. tire distributors and consumers," the delegation said in a letter to the U.S. President Barack Obama before a government hearing on this issue on Friday.     The U.S. Steelworkers union, which represents workers at major U.S. tire manufacturers, filed a petition against China earlier this year for import relief and won a favorable ruling from the U.S. International Trade Commission (ITC).     The panel recommended Obama impose a 55 percent tariff on the Chinese tire imports which would be reduced to 45 percent in the second year and 35 percent in the third before being removed.     The steelworkers asked for protection under Section 421 of U.S. trade law, which only requires petitioners to show that imports from China have disrupted the U.S. market.     "Chinese tires are welcomed by the American consumers who believe that our products have good cost performance," Xu said. "Chinese tires are relatively lower ended and mainly for the replacement of tires. The U.S. tire makers do not produce these types of tires. So our tires are complementary, not competitive to the U.S. products."     Xu said that the tariffs will hurt the American consumers and cause job loss as well.     "This case will influence about 100,000 U.S. employees across the country, including tire sellers, distributors, transporters and logistic companies. More than 25,000 American workers may lose their jobs if the sanction is implemented," Xu said.     "And about 100,000 Chinese workers from 20 tire producers will be influenced by the case," she added.     The ITC said it submitted its investigation report to President Obama and the U.S. Trade Representative (USTR) Ron Kirk last month.     The USTR hearing would be the final event in the investigation before Obama rules on the ITC recommendation.     The USTR will submit its remedy recommendation to Obama by September 2. He is required to make a decision within 15 days after receiving it.     Xu said that the tariffs proposal are widely opposed by the U.S. consumers and tire distributors.     In a letter to President Obama, the American Tire Industry Association (TIA) opposed petition to limit imports of Chinese-made tires and said that it will hurt the U.S. economy and consumers.     This case also aroused closely watch of trade protectionism since it is seen as a test case for the Obama administration's trade policy.     The president's decision will tell the world if he believes his own rhetoric about the dangers of protectionism in a weak global economy, The Wall Street Journal said in a report Tuesday.     "Chinese tires have fairly traded in the U.S. for years. I think limiting trade in fairly traded goods is protectionism. It would contradict recent pledges by the United States to avoid protectionism and to work in cooperation with China to promote trade," said Xu.     "We cannot predict the result of the case right now," Xu said. "What we expect is a fair ruling from the U.S. government."

PHOENIX, Sept. 6 (Xinhua) -- At the invitation of the speaker of the U.S. House of Representatives Nancy Pelosi, Chinese top legislator Wu Bangguo arrived here on Sunday to begin his official visit to the United States on the final leg of his three-nation America tour.     In a written statement released at the airport upon his arrival, Wu, chairman of the Standing Committee of China's National People's Congress, highlighted the "historical" growth of the China-U.S. relations in the past 30 years since the two nations forged diplomatic relations, noting that the bilateral ties already become the most important and the most dynamic ones in the world. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, shakes hands with Arizona Governor Jan Brewer greeting him upon his arrival at an airport in Phoenix of Arizona state Sept. 6, 2009. Wu Bangguo arrived here on Sunday for an official goodwill visit to the U.S., the final leg of his three-nation America tourWu will be visiting Washington Tuesday where he is expected to hold talks with Pelosi, meet with U.S. President Barack Obama, Vice President Joe Biden and Secretary of State Hillary Clinton.     "My visit to the United States is the first by a Chinese top legislator in the past 20 years," Wu said in the statement, noting that the purpose of his visit is to further implement the important consensus reached by the Chinese president Hu Jintao and Obama in an aim to push forward the positive, cooperative and comprehensive Sino-American relations.     Wu arrived here after he concluded his official visit to Cuba and the Bahamas.

BEIJING, Oct. 17 (Xinhua) -- The Communist Party of China (CPC) and Kuomintang (KMT) both expressed wish to promote cross-Strait trust and common understanding as Ma Ying-jeou took the position as the KMT chairman on Saturday.     The CPC Central Committee Saturday congratulated the Kuomintang(KMT) on the convocation of its18th congress, expecting the two parties to deepen mutual trust, increase exchanges and expand common understanding.     In a reply, the KMT Central Committee said they will work with the CPC for improving trust and mutual benefits, in a bid to improve the welfare of people on both sides.     At the congress, the KMT again included the "common aspirations and prospects for peace and development across the Taiwan Strait, "reached between the CPC and KMT in 2005, in its political guideline. Taiwan leader Ma Ying-jeou assumed the position of the island's ruling party chairman at Kuomintang's 18th plenary congress Saturday morning    Wu Yongping, deputy director of the Institute of Taiwan Studies, Tsinghua University, told Xinhua that this gave a positive signal that the KMT pledged again to further development of cross-Strait relations , which is helpful for further dialogues between the CPC and the KMT.     At the congress, Ma appointed Lien Chan and Wu Poh-hsiung as KMT honorary chairmen. They would assist Ma on cross-Strait affairs and external exchanges, according to Ma.     Hu Jintao, general secretary of the CPC Central Committee, congratulated Lien Chan on continuing to be KMT honorary chairman and Wu Poh-hsiung on taking the position as honorary chairman.     The two responded with commitments to peaceful development of cross-Strait relations.     Lien said in a statement that since the two sides resumed systematic talks based on the 1992 Consensus, peace and stability across the Strait have been greatly enhanced and people's welfare improved.     "We should work even harder to consolidate the five-point common aspirations and prospects," Lien said.     Wu also noted that the two parties should work together for peace and development with "sincerity and goodwill."     Zhu Weidong, deputy director fo the Institute of Taiwan Studies, Chinese Academy of Social Sciences, said, "Through the congress, we can see the KMT will not change its stance on easing cross-Strait relations, promoting exchanges with the CPC and carrying on the platform between the two parties."

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BEIJING, Oct. 13 (Xinhua) -- Chinese top political advisor Jia Qinglin Tuesday urged more efforts to perfect the system of multi-party cooperation and political consultation under the leadership of the Communist Party of China(CPC).     Speaking at a seminar to mark the 60th anniversary of the founding of the Chinese People's Political Consultative Conference (CPPCC), CPPCC Chairman Jia said the system is an inevitable choice for China to press ahead with its social and political development.     Efforts should be made to give full play to the unique advantages of the CPPCC, the top political advisory body, he said. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), speaks at a seminar marking the 60th anniversary of the founding of the CPPCC, in Beijing, capital of China, on Oct. 13, 2009. The system is in conformity with China's national conditions and has strong Chinese characteristics, according to Jia.     The system has made important contributions to the country's modernization drive, he said, adding it also played an irreplaceable role in the country's revolutionary cause, reform and opening-up endeavor and the construction of a well-off society.     Jia also urged efforts to embrace innovation in the development of the system.     The CPPCC was founded in 1949, the year that the People's Republic of China was founded.

BEIJING, Oct. 12 (Xinhua) -- Chinese Premier Wen Jiabao on Monday stressed the growing of autumn and winter crops at an executive meeting of the State Council.     The Central Committee of the Communist Party of China and the State Council would continue to strengthen the fundamental status of agriculture and boost the support for agriculture and grain output, according to the meeting.     All provincial areas and departments should put into practice the central government's policies, especially policies for the benefits of farmers, according to the meeting.     Despite uncommon droughts and the global economic recession, China was expected to have a big harvest this year, underpinning the country's stable and fast economic growth, according to the meeting.     Although China reported grain output increase for continuous years, the relationship between grain demand and supply would be strained in the long run as China's infrastructure for grain output was not stable, the grain planting efficiency was relatively low and natural disasters were frequent, according to the meeting.     Autumn and winter planting was key to next summer's harvest and even next year's harvest and measures should be taken to promote grain output, according to the meeting.     The measures should include promoting subsidy policies and stabilizing autumn and winter planting acreage, stabilizing market prices to protect farmers' interests and promoting technology services for farmers, according to the meeting.

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HAIKOU, Aug. 10 (Xinhua) -- The bodies of two people were retrieved in south China's island province of Hainan on Monday, bringing the death toll from the tropical storm Goni to five, local officials said.     The fourth was a fisherman who was killed when the fishing boat "Qiongdanzhou 00301" was wrecked at the Yangpu Port, while the fifth one, a fisherwoman, died after "Qiongdanzhou 52153" sank near Danzhou City, officials said.     Another two fishermen on "Qiongdanzhou 00301" and "Qiongdanzhou 00878", as well as four crew members on a Cambodian vessel are still missing, said an official with the Hainan marine search and rescue center.     The difficulty of rescue has increased as the provincial meteorologic center warned of continuous thunderstorms in northwestern Hainan in the following 24 hours, he said.     More than 1.6 million people in Hainan Province were affected by Goni, which forced local authorities to relocate 92,000, officials said.     It toppled more than 575 houses and damaged 2,311, as well as inundated 68,000 hectares of cropland, he said.     Goni landed in Hainan Wednesday and left China at 5 p.m. Sunday.

BEIJING, Oct. 15 (Xinhua) -- The National Development and Reform Commission (NDRC) will mainly redress production overcapacity in six sectors, said Chen Bin, director of the Department of Industry of the NDRC, Thursday.     The six sectors include steel, cement, plate glass, coal-chemical industry, polycrystalline silicon and windpower equipment.     The NDRC also warns of obvious production overcapacity in sectors like electrolytic aluminum, ship manufacturing and soybean oil extraction, said Chen during an on-line interview on www.gov.cn., the website of China's central government.     He said China would fight serious overcapacity in sectors like steel industry and offer guidance for new-born industries like windpower equipment to avoid low level repetitive construction.     China has achieved preliminary progresses in fighting the global economic downturn, but the foundation for economic recovery is not stable yet and overcapacity might lead to bankruptcy, unemployment and bad bank loans if it was not checked in time, he said.