The price of rare earth metals fell this week, a change from an earlier price boom, National Business Daily reported Thursday.
"Prices fell recently for some rare earth metals and the largest drop was more than 10,000 yuan ($1,500) a ton", the newspaper reported citing an unnamed source in the rare earth business in East China's Jiangxi province.
The rare earth market saw fewer deals than earlier and a wait-and-see attitude is popular now, the newspaper quoted analysts as saying.
"The overall prices of rare earths were relatively stable this week, while the price of several metals rose," said Song Zhichao, a rare earth analyst at Toocle.cn, a website reporting on commodity trading prices.
But according to Song this may change soon.
"Many exporters will shift their resources to the domestic market due to reduced export quotas. The domestic market will have more supplies, which will make the prices fluctuate or even decline," said Song.
China's Ministry of Commerce on Nov 11 began accepting Chinese companies' applications for 2011 rare earth export quotas.
The prices of rare earth metals surged earlier when the regulator considered restrictions on rare earth exploitation. Neodymium prices surged to $92 per kilogram on Oct 19 from $41 per kilogram on April 20.
Rare earths are 17 chemical elements used in the production of flat-screen monitors, electric-car batteries, wind turbines, missiles and aerospace alloys.
2010年11月26日星期五
China: official
About 90 percent of death sentences passed are for serious crimes ranging from intentional homicide, robbery, serious injury, rape, drug trafficking to kidnapping, according to Hu.
In August, the National People's Congress, China's top legislature, dropped the death penalty for 13 economy related, non-violent crimes in the latest amendment to the country's Criminal Law.
Hu said the SPC "strongly supports" the move as it has sent "a positive signal for strictly controlling the imposition of a death penalty".
Despite these moves, he said, the final review still faces challenges, including the use of torture as well as poor standards among some rural judges.
In one of the country's most notorious forced-confession cases, Zhao Zuohai, after serving 11 years in prison, was released in early May after the man he was alleged to have murdered turned up alive. The Henan farmer said the police tortured him into making a confession.
Zhao Bingzhi, head of the criminal law research committee under the China Law Society, said it's essential for the SPC to classify and summarize cases where the death penalty has been overturned and then release them to guide lower courts.
"What's more, the SPC should go beyond only examining evidence, and establish rules to better define serious crimes where the death penalty is applicable to ensure its
China's top court has overturned 10 percent of all death sentences nationwide since 2007 when it took back the right of final review from lower courts, a senior court official said.
Hu Yunteng, head of the research department under the Supreme People's Court (SPC), said regaining the review "played an obvious role" in reducing the number of executions, according to Friday's China Daily.
"It has ensured that the death penalty can only be applied for the most serious crimes," Hu was quoted as saying but declined to specify the number of death sentences carried out each year.
In 1981, the SPC granted provincial courts the authority to pass death sentences in an effort to tackle rising crimes, which was ended on Jan. 1, 2007 when the SPC took back the power to review and ratify death sentences after the practice was widely criticized following reports of miscarriages of justice.
Hu said death sentences were overturned mostly for lack of evidence, procedural flaws or for an inappropriate penalty.
"We must make sure the use of the death sentence is accurate and free of mistakes to respect and protect the convicts and their rights."
Earlier, Zhang Jun, SPC vice-president, told judicial departments to only impose a death penalty for the most heinous crimes.
The SPC also increased its criminal tribunals from two to five to better examine all death sentences passed, Hu said.
The SPC also ordered that all cases that carried a possible death penalty must be heard at a court session, with the defendant or defendants in attendance.
In August, the National People's Congress, China's top legislature, dropped the death penalty for 13 economy related, non-violent crimes in the latest amendment to the country's Criminal Law.
Hu said the SPC "strongly supports" the move as it has sent "a positive signal for strictly controlling the imposition of a death penalty".
Despite these moves, he said, the final review still faces challenges, including the use of torture as well as poor standards among some rural judges.
In one of the country's most notorious forced-confession cases, Zhao Zuohai, after serving 11 years in prison, was released in early May after the man he was alleged to have murdered turned up alive. The Henan farmer said the police tortured him into making a confession.
Zhao Bingzhi, head of the criminal law research committee under the China Law Society, said it's essential for the SPC to classify and summarize cases where the death penalty has been overturned and then release them to guide lower courts.
"What's more, the SPC should go beyond only examining evidence, and establish rules to better define serious crimes where the death penalty is applicable to ensure its
China's top court has overturned 10 percent of all death sentences nationwide since 2007 when it took back the right of final review from lower courts, a senior court official said.
Hu Yunteng, head of the research department under the Supreme People's Court (SPC), said regaining the review "played an obvious role" in reducing the number of executions, according to Friday's China Daily.
"It has ensured that the death penalty can only be applied for the most serious crimes," Hu was quoted as saying but declined to specify the number of death sentences carried out each year.
In 1981, the SPC granted provincial courts the authority to pass death sentences in an effort to tackle rising crimes, which was ended on Jan. 1, 2007 when the SPC took back the power to review and ratify death sentences after the practice was widely criticized following reports of miscarriages of justice.
Hu said death sentences were overturned mostly for lack of evidence, procedural flaws or for an inappropriate penalty.
"We must make sure the use of the death sentence is accurate and free of mistakes to respect and protect the convicts and their rights."
Earlier, Zhang Jun, SPC vice-president, told judicial departments to only impose a death penalty for the most heinous crimes.
The SPC also increased its criminal tribunals from two to five to better examine all death sentences passed, Hu said.
The SPC also ordered that all cases that carried a possible death penalty must be heard at a court session, with the defendant or defendants in attendance.
2010年11月23日星期二
Central exchange rate
A leading Chinese economist suggested Beijing improve forex policy by setting a "central exchange rate" in a given time span, during which the monetary authorities could initiate a few "one-off"rate adjustments.
Xia Bing, who sits at the central bank's monetary policy commission, wrote in a column for the China Business News Tuesday that China's current managed floating exchange rate system must be maintained, because it stabilizes the trade and backs up the economy strategically.
China's currency, the yuan or RMB, has strengthened against the U.S. dollar, the euro, the British pound and other major currencies, after the country's foreign trade volume increased to pre-crisis levels this year. It has gained more than 3 percent against the U.S. dollar since June.
Xia said that the yuan's exchange rate is now made floatable in tandem with daily variations of a basket of global currencies. He recommended the central bank revise the weighing of each currency, including the U.S. dollar, in accordance with global market performances. When time is ripe, he wrote, the "central exchange rate"will be supplanted by a genuinely market-regulated rate.
He also suggested the authorities gradually loosen control on capital account transactions to facilitate the yuan to be recognized and accepted as an independent global hard currency. However, Xiao did not reveal how many years the process of the yuan globalization would take.
Xia Bing, who sits at the central bank's monetary policy commission, wrote in a column for the China Business News Tuesday that China's current managed floating exchange rate system must be maintained, because it stabilizes the trade and backs up the economy strategically.
China's currency, the yuan or RMB, has strengthened against the U.S. dollar, the euro, the British pound and other major currencies, after the country's foreign trade volume increased to pre-crisis levels this year. It has gained more than 3 percent against the U.S. dollar since June.
Xia said that the yuan's exchange rate is now made floatable in tandem with daily variations of a basket of global currencies. He recommended the central bank revise the weighing of each currency, including the U.S. dollar, in accordance with global market performances. When time is ripe, he wrote, the "central exchange rate"will be supplanted by a genuinely market-regulated rate.
He also suggested the authorities gradually loosen control on capital account transactions to facilitate the yuan to be recognized and accepted as an independent global hard currency. However, Xiao did not reveal how many years the process of the yuan globalization would take.
2010年11月14日星期日
Mexico hotel
He said that among the fatal victims, there were an Italian and three people who worked in the hotel, and among the injured there are also foreigners.
Meanwhile, Cancun's City Hall secretary Rafael Castro told Xinhua that most of the victims were hotel employees, who at that moment were working in the restaurant.
Also it was reported that two journalists were hit by the vigilance guards, when they tried to enter the hotel to make an interview and were taken to the hospital now.
The authorities have detained the hotel's manager. According to witnesses, the employees had reported a strong gas smell, but the manager ignored.
Cancun will host the United Nations Conference of the Parties ( COP16) on Climate Change at the end of November.
An explosion on Sunday killed 6 and injured 20 others in a hotel in the Mexican resort city of Cancun, in southeastern Mexico, Quintana Roo's prosecutor Francisco Alor Quezada said.
The explosion occurred in Princess Riviera Mayo hotel at about 9:00 a.m. local time in "Premium" restaurant of Princess Riviera Maya in Del Carmen Beach.
During a press conference Alor said that to the moment they have conformed 20 injuries, who were taken to the hospitals in Carmen Beach and Cancun.
He said that the authority think the explosion was due to gas accumulation in the pipe lines of the hotel's central kitchen, but they will continue investigating the explosion.
the Elysee ande migewaede
Office furniture Office furniture manufacturer Office Furniture Desk
Meanwhile, Cancun's City Hall secretary Rafael Castro told Xinhua that most of the victims were hotel employees, who at that moment were working in the restaurant.
Also it was reported that two journalists were hit by the vigilance guards, when they tried to enter the hotel to make an interview and were taken to the hospital now.
The authorities have detained the hotel's manager. According to witnesses, the employees had reported a strong gas smell, but the manager ignored.
Cancun will host the United Nations Conference of the Parties ( COP16) on Climate Change at the end of November.
An explosion on Sunday killed 6 and injured 20 others in a hotel in the Mexican resort city of Cancun, in southeastern Mexico, Quintana Roo's prosecutor Francisco Alor Quezada said.
The explosion occurred in Princess Riviera Mayo hotel at about 9:00 a.m. local time in "Premium" restaurant of Princess Riviera Maya in Del Carmen Beach.
During a press conference Alor said that to the moment they have conformed 20 injuries, who were taken to the hospitals in Carmen Beach and Cancun.
He said that the authority think the explosion was due to gas accumulation in the pipe lines of the hotel's central kitchen, but they will continue investigating the explosion.
the Elysee ande migewaede
Office furniture Office furniture manufacturer Office Furniture Desk
2010年11月12日星期五
clam shell
Sun Dexuan, one of the personnel in charge of excavating the "first Chinese dragon," noted historical and cultural expert and deputy director of the Puyang Dragon Culture Research Association, said at 9 a.m. on Nov. 9 that the "first Chinese dragon" was unearthed at the site of the Yangshao Culture in the Xitupo area, Puyang County 23 years ago and is indeed made from clam shells. The dragon pattern depicts a flying dragon with a long tail, holding its head high, while bowing its body with its front paws clawing and back paws kicking. Domestic and foreign experts estimated by analyzing the clam shells that the dragon was made about 6,400 years ago, with an error of no more than 150 years.
Sun analyzed that the clam shell found by Mr. Huang belongs to Hyriopsis species and the totem pattern within the clam shell shows that it came into being later than the "first Chinese dragon." The dragon totem pattern within the clam shell is quite likely to have been made artificially, but the initial conclusion is open to professional analyses by archeological experts.
An animal-shaped pattern discovered within a clam shell closely resembles the "first Chinese dragon" unearthed in Puyang County, central China's Henan Province and the pattern without any artificial signs appears to have come into being naturally, a local resident said on Nov. 9 after he unexpectedly discovered it among many clam shells in a pit near an excavated ancient wall while out at the southwestern Xishuipo area of Puyang County.
The resident, Mr. Huang, said the place where he found the clam shell is only several hundred meters away from the site where the "first Chinese dragon" was unearthed in 1987. As "the first Chinese dragon" was fully made from clam shells, he does not know whether there is any connection between the two discoveries.
Sun analyzed that the clam shell found by Mr. Huang belongs to Hyriopsis species and the totem pattern within the clam shell shows that it came into being later than the "first Chinese dragon." The dragon totem pattern within the clam shell is quite likely to have been made artificially, but the initial conclusion is open to professional analyses by archeological experts.
An animal-shaped pattern discovered within a clam shell closely resembles the "first Chinese dragon" unearthed in Puyang County, central China's Henan Province and the pattern without any artificial signs appears to have come into being naturally, a local resident said on Nov. 9 after he unexpectedly discovered it among many clam shells in a pit near an excavated ancient wall while out at the southwestern Xishuipo area of Puyang County.
The resident, Mr. Huang, said the place where he found the clam shell is only several hundred meters away from the site where the "first Chinese dragon" was unearthed in 1987. As "the first Chinese dragon" was fully made from clam shells, he does not know whether there is any connection between the two discoveries.
APEC meeting
Chinese President Hu Jintao arrived in Japan Friday for the 18th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC),by govt subsidies which is slated for Saturday and Sunday in Yokohama.
Hu and his wife, Liu Yongqing, were welcomed by senior officials from the Japanese Foreign Ministry at Haneda airport.
Chief Executive Donald Tsang of the Hong Kong Special Administrative Region and Chinese Ambassador Indonesia rises to nearly 450to Japan Cheng Yonghua were also present at the airport to greet Hu.
President Hu, who flew into Tokyo from Seoul after attending the fifth summit of the Group of 20 (G20), was traveling by car to Yokohama.
With the theme of "Change and Action," this year's Economic Leaders' Meeting will focus on the regional economic integration, a growth strategy for the Asia-Pacific region, human security, the economic and technical cooperation, and the assessment of achievement of Bogor Goals by APEC economies,Indonesia rises to nearly 450 according to the meeting agenda.
The Bogor Goals call for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies. These goals were adopted by leaders at their 1994 meeting in Bogor, Indonesia.
President Hu will speak atAustralian scientists the meeting to present China's view on these issues, Chinese officials said.
Before the Economic Leaders' Meeting, the Chinese president will deliver a speech at the APEC CEO Summit, Chinese officials said.
APEC is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region.
Since its birth in 1989, APEC has grown to encompass 21 members spanning four continents, and represents the most economically dynamic region in the world, accounting for approximately 40 percent of the world's population, around 50 percent of world GDP and about 44 percent of world trade.
APEC's 21 member economies are Australian scientistsAustralia, Brunei, Canada, Chile, China, China's Hong Kong, Chinese Taipei, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Thailand, the United States and Vietnam.
Hu and his wife, Liu Yongqing, were welcomed by senior officials from the Japanese Foreign Ministry at Haneda airport.
Chief Executive Donald Tsang of the Hong Kong Special Administrative Region and Chinese Ambassador Indonesia rises to nearly 450to Japan Cheng Yonghua were also present at the airport to greet Hu.
President Hu, who flew into Tokyo from Seoul after attending the fifth summit of the Group of 20 (G20), was traveling by car to Yokohama.
With the theme of "Change and Action," this year's Economic Leaders' Meeting will focus on the regional economic integration, a growth strategy for the Asia-Pacific region, human security, the economic and technical cooperation, and the assessment of achievement of Bogor Goals by APEC economies,Indonesia rises to nearly 450 according to the meeting agenda.
The Bogor Goals call for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies. These goals were adopted by leaders at their 1994 meeting in Bogor, Indonesia.
President Hu will speak atAustralian scientists the meeting to present China's view on these issues, Chinese officials said.
Before the Economic Leaders' Meeting, the Chinese president will deliver a speech at the APEC CEO Summit, Chinese officials said.
APEC is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region.
Since its birth in 1989, APEC has grown to encompass 21 members spanning four continents, and represents the most economically dynamic region in the world, accounting for approximately 40 percent of the world's population, around 50 percent of world GDP and about 44 percent of world trade.
APEC's 21 member economies are Australian scientistsAustralia, Brunei, Canada, Chile, China, China's Hong Kong, Chinese Taipei, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Thailand, the United States and Vietnam.
EU says no request
The EU and the International Monetary Fund (IMF) established a joint aid package totaling 750 billion eurospolitical reform, stability (1 trillion U.S. dollars) in May for possible bailout of other eurozone members that may follow the step of Greece, but till now, no country has asked to activate the support mechanism.
European Commission President Jose Manuel Barroso said Thursday that the EU has the instruments to political reform, stability use if there is any need.
"What is important to know is that we have all the necessary instruments in place now to support Ireland if necessary," he told reporters in Seoul when attending the G20 summit.
Ireland has notpopulation census Monday made any request for financial aid from the European Union (EU), a European Commission spokesman said on Thursday.
"Ireland has not requested any financial assistance through Europe," commission spokesman Olivier Bailly told reporters at a daily press briefing.
But Bailly said the EU stands ready topopulation census Monday help Ireland if there is any need.
"The commission supports Ireland to face its challenges and in case of need. I underline very clearly in case of need," he said, adding commission officials were following the situation on a daily basis.
Irish borrowing costs on benchmarkpopulation census Monday 10-year bonds jumped sharply on Wednesday, hitting a record high since the launch of the euro in 1999 after a dramatic sell-off by bondholders and banks.
It fueled speculation that Dublin may soon be forced to ask for financial bailout from the EU.
European Commission President Jose Manuel Barroso said Thursday that the EU has the instruments to political reform, stability use if there is any need.
"What is important to know is that we have all the necessary instruments in place now to support Ireland if necessary," he told reporters in Seoul when attending the G20 summit.
Ireland has notpopulation census Monday made any request for financial aid from the European Union (EU), a European Commission spokesman said on Thursday.
"Ireland has not requested any financial assistance through Europe," commission spokesman Olivier Bailly told reporters at a daily press briefing.
But Bailly said the EU stands ready topopulation census Monday help Ireland if there is any need.
"The commission supports Ireland to face its challenges and in case of need. I underline very clearly in case of need," he said, adding commission officials were following the situation on a daily basis.
Irish borrowing costs on benchmarkpopulation census Monday 10-year bonds jumped sharply on Wednesday, hitting a record high since the launch of the euro in 1999 after a dramatic sell-off by bondholders and banks.
It fueled speculation that Dublin may soon be forced to ask for financial bailout from the EU.
2010年11月11日星期四
Moody's raises
Moody's Investors Service Inc.French National Assembly announced Thursday that it has lifted the Chinese government's bond ratings to Aa3 from A1, and maintains a positive outlook to the country's economy.
The country's ratings of the government's foreign and local currency bonds; ceilings for foreign and local currency bank deposits, and the ceilings for foreign and local currency bonds have all been raised, according toraise poverty line the report.
The report said that itmake sequels to "Avatar" decided to raise the ratings because after the financial crisis, China's economy has shown a strong recovery performance; and that the company believes it will maintain doing so.
According 1,181 listed firmsto Moody's, the Chinese government took rapid and effective stimulus measures after the financial crisis and now has begun to withdraw. Also, the central government's financial credit fundamentals were not eroded, and it may possibly effectively control the problems that were brought by the expansion of the loans in 2009.
Moody's emphasized that China's panel approves duties international balance is especially strong, which largely helps the country to tackle the fluctuation in the global financial market; and capital control can help stem destabilizing capital inflows. Moody's also predicted that the dispute on trade and currency between China and the US will be effectively solved.
The country's ratings of the government's foreign and local currency bonds; ceilings for foreign and local currency bank deposits, and the ceilings for foreign and local currency bonds have all been raised, according toraise poverty line the report.
The report said that itmake sequels to "Avatar" decided to raise the ratings because after the financial crisis, China's economy has shown a strong recovery performance; and that the company believes it will maintain doing so.
According 1,181 listed firmsto Moody's, the Chinese government took rapid and effective stimulus measures after the financial crisis and now has begun to withdraw. Also, the central government's financial credit fundamentals were not eroded, and it may possibly effectively control the problems that were brought by the expansion of the loans in 2009.
Moody's emphasized that China's panel approves duties international balance is especially strong, which largely helps the country to tackle the fluctuation in the global financial market; and capital control can help stem destabilizing capital inflows. Moody's also predicted that the dispute on trade and currency between China and the US will be effectively solved.
government next week
French PresidentWTO says US Nicolas Sarkozy is due announce a long-waited government cabinet next week after closing the sensitive file of pension reforms, the daily newspaper Le Figaro reported on Wednesday.
Sarkozy was expected to inject fresh blood in the current center-right government before the NATO summit scheduled Nov. 19-20 in Lisbon, according to the report.
"After several weeks of suspense, Francois Fillon seems wellPolice break up placed to succeed himself and he would stay at Matignon," Le Figaro said.
The right newspaper added that the 55-year-old Sarkozy will address the nation on Nov. 18 to outline the main issues on his agenda over the remaining 18 months of his mandate.
Sarkozy pledges to tighten thewend trade war government composition by reducing the number of ministries in a move to trim public spending and narrow the budget deficit from an expected 7.7-percent this year to 3 percent in 2013 as to meet the limit of the European Union.G20 agrees
The presidential office L' Elysee Palace did not comment.
Pierre Lellouche, secretary of state in open mixed Mondaycharges of European affairs told RTL radio that Wednesday's cabinet meeting would probably be the last one of the current government.
Sarkozy was expected to inject fresh blood in the current center-right government before the NATO summit scheduled Nov. 19-20 in Lisbon, according to the report.
"After several weeks of suspense, Francois Fillon seems wellPolice break up placed to succeed himself and he would stay at Matignon," Le Figaro said.
The right newspaper added that the 55-year-old Sarkozy will address the nation on Nov. 18 to outline the main issues on his agenda over the remaining 18 months of his mandate.
Sarkozy pledges to tighten thewend trade war government composition by reducing the number of ministries in a move to trim public spending and narrow the budget deficit from an expected 7.7-percent this year to 3 percent in 2013 as to meet the limit of the European Union.G20 agrees
The presidential office L' Elysee Palace did not comment.
Pierre Lellouche, secretary of state in open mixed Mondaycharges of European affairs told RTL radio that Wednesday's cabinet meeting would probably be the last one of the current government.
2010年11月10日星期三
Russia NATO
Russia hoped the agenda of gateway to Africathe upcoming Russia-NATO summit would be predictable and expected no "unpleasant" declarations, a Russian envoy said Wednesday.
Dmitry Rogozin, Russia's envoy to NATO, said in an interview with the Kommersant daily ahead of the summit that Russia had informed NATO "our wishes -- no surprises."
The envoy added that "we wanted to have a China poultry illegal predictable agenda for the summit from a predictable partner."
He also said Russia had been assured that there were unlikely declarations that could aggravate the summit's atmosphere.
"We didn't Car tax law partwant to get the second 'Bucharest'," Rogozin said.
After the Russia-Georgia armed conflict in 2008, Prime Minister Vladimir Putin paid a visit to Russia- NATO Summit in Bucharest, where a discussion on Georgia and Ukraine's membership was given an full airing.
After the Bucharest summit, NATO delayed Georgia and Housing a basic right Ukraine's admission to the organization due to Russia's tough stance in the summit.
Russia had proposed several issues for discussion at the summit, including terrorism, piracy, Afghanistan, and non-proliferation of weapons of mass destruction, Rogozin said.
In addition, he stressed that Moscow willChina's legislature insist on three restrictions concerning NATO's anti-missile system, including its placement, tactics and technical characteristics and quantity.
Dmitry Rogozin, Russia's envoy to NATO, said in an interview with the Kommersant daily ahead of the summit that Russia had informed NATO "our wishes -- no surprises."
The envoy added that "we wanted to have a China poultry illegal predictable agenda for the summit from a predictable partner."
He also said Russia had been assured that there were unlikely declarations that could aggravate the summit's atmosphere.
"We didn't Car tax law partwant to get the second 'Bucharest'," Rogozin said.
After the Russia-Georgia armed conflict in 2008, Prime Minister Vladimir Putin paid a visit to Russia- NATO Summit in Bucharest, where a discussion on Georgia and Ukraine's membership was given an full airing.
After the Bucharest summit, NATO delayed Georgia and Housing a basic right Ukraine's admission to the organization due to Russia's tough stance in the summit.
Russia had proposed several issues for discussion at the summit, including terrorism, piracy, Afghanistan, and non-proliferation of weapons of mass destruction, Rogozin said.
In addition, he stressed that Moscow willChina's legislature insist on three restrictions concerning NATO's anti-missile system, including its placement, tactics and technical characteristics and quantity.
containment
The United States has reiterated its stance that it will not seek to contain China to appease suspiciousRare bone disease countries in the Southeast Asian region, while experts said containment would be against Washington's interests.
US President Barack Obama once again dismissed widespread speculation that his administration is bent on containing China at a news conference on Tuesday in Jakarta, the capital of Indonesia, during the second stop of his nine-day trip to Asia.
"We want China to succeed and prosper," Obama said, adding that China's continuous development is good for the US.
In his speech, Obama said the US regards China as "a huge,U.S. national defense expanding market, where Americans can sell goods and services", and treats China's prosperity and security as "a positive".
Obama is currently on a four-country tour in Asia - touching down in India, Indonesia, Republic of Korea (ROK) and Japan. All these nations are important partners for Washington in the region.
China is the one country Obama is not visiting during the trip, but he will meet with President Hu Jintao on the sidelines of the G20 in Seoul later this week.
US cancer research efforts to expand relations with Southeast Asian nations also included Secretary of State Hillary Clinton's recent engagement with Malaysia and several neighboring nations, Defense Secretary Robert Gates' talk with his Malaysian counterpart, as well as former US president Bill Clinton's upcoming visit next week.
Following a meeting with a visiting Gates, Malaysian Defense Minister Ahmad Zahid Hamidi said that China is his nation's "traditional friend", with a trading relationship dating back thousands of years.
"We do not feel we are being bullied," Hamidi said. "We both need each other."
"We are more comfortable to engage with China rather thanlaw enforcement to have a sour relationship ... (and) they have a very positive attitude toward us."
Experts in China believe America's so-called containment of Beijing does not reflect the real intentions of the White House.
"Containing China was a US policy taken in the Cold War era. As the global setting has undergone dramatic changes, it is highly unwise of the US to treat China as an adversary," said Tao Wenzhao, a scholar on US studies at the Chinese Academy of Social Sciences
The US also has an interest in cooling the rhetoric of "containing China" as it might arouse unnecessary disputes or irritate Beijing even more, according to Niu Jun, a professor on US studies at Peking University.
In a bid to smooth ties, the Obama administration is also eyeing the strategic partnership by tapping into the younger generation.
John Huntsman, the US ambassador to China, stressed the role of the younger generation in shaping more positive Sino-US ties during a town hall meeting in October concerning current bilateral relations.
One most notable endeavor he mentioned isculture in U.S.: educators Obama's announcement of the "100,000 Strong" initiative in November of 2009, a US effort designed to increase sharply the number - and diversify the composition - of American students studying in China, which was officially launched in May in Beijing.
This initiative seeks to prepare the next generation of American experts on China who will be charged with managing the growing political, economic and cultural ties between US and China, Carola McGiffert, director of the initiative, said during a briefing on this project in Beijing on Tuesday.
The need for Americans to gain greater exposure to and understanding of China is clear, according to McGiffert, as "there is perhaps no more important or complex relationship in the world than that between the United States and China in terms of securing global peace and security".
"As China has become the fifth-biggest destination country for American students to study abroad (and) the most popular among developing countries, we are glad to see interest in China is on the rise," she said.
US President Barack Obama once again dismissed widespread speculation that his administration is bent on containing China at a news conference on Tuesday in Jakarta, the capital of Indonesia, during the second stop of his nine-day trip to Asia.
"We want China to succeed and prosper," Obama said, adding that China's continuous development is good for the US.
In his speech, Obama said the US regards China as "a huge,U.S. national defense expanding market, where Americans can sell goods and services", and treats China's prosperity and security as "a positive".
Obama is currently on a four-country tour in Asia - touching down in India, Indonesia, Republic of Korea (ROK) and Japan. All these nations are important partners for Washington in the region.
China is the one country Obama is not visiting during the trip, but he will meet with President Hu Jintao on the sidelines of the G20 in Seoul later this week.
US cancer research efforts to expand relations with Southeast Asian nations also included Secretary of State Hillary Clinton's recent engagement with Malaysia and several neighboring nations, Defense Secretary Robert Gates' talk with his Malaysian counterpart, as well as former US president Bill Clinton's upcoming visit next week.
Following a meeting with a visiting Gates, Malaysian Defense Minister Ahmad Zahid Hamidi said that China is his nation's "traditional friend", with a trading relationship dating back thousands of years.
"We do not feel we are being bullied," Hamidi said. "We both need each other."
"We are more comfortable to engage with China rather thanlaw enforcement to have a sour relationship ... (and) they have a very positive attitude toward us."
Experts in China believe America's so-called containment of Beijing does not reflect the real intentions of the White House.
"Containing China was a US policy taken in the Cold War era. As the global setting has undergone dramatic changes, it is highly unwise of the US to treat China as an adversary," said Tao Wenzhao, a scholar on US studies at the Chinese Academy of Social Sciences
The US also has an interest in cooling the rhetoric of "containing China" as it might arouse unnecessary disputes or irritate Beijing even more, according to Niu Jun, a professor on US studies at Peking University.
In a bid to smooth ties, the Obama administration is also eyeing the strategic partnership by tapping into the younger generation.
John Huntsman, the US ambassador to China, stressed the role of the younger generation in shaping more positive Sino-US ties during a town hall meeting in October concerning current bilateral relations.
One most notable endeavor he mentioned isculture in U.S.: educators Obama's announcement of the "100,000 Strong" initiative in November of 2009, a US effort designed to increase sharply the number - and diversify the composition - of American students studying in China, which was officially launched in May in Beijing.
This initiative seeks to prepare the next generation of American experts on China who will be charged with managing the growing political, economic and cultural ties between US and China, Carola McGiffert, director of the initiative, said during a briefing on this project in Beijing on Tuesday.
The need for Americans to gain greater exposure to and understanding of China is clear, according to McGiffert, as "there is perhaps no more important or complex relationship in the world than that between the United States and China in terms of securing global peace and security".
"As China has become the fifth-biggest destination country for American students to study abroad (and) the most popular among developing countries, we are glad to see interest in China is on the rise," she said.
2010年11月9日星期二
Italian art treasures
The National MuseumNobel's ideas of China's expansion project will be completed in 2011, and it will include an Italy Exhibition Hall which will give the Chinese people a precious opportunity to experience Italian Renaissance art treasures in person without going abroad, Song Xinchao, deputy director of the State Administration of Cultural Heritage, said at the 22nd General Conference of the International Council of Museums.
China and Italy signedsuper typhoon Megi an agreement in early October to establish exhibition halls in each other's countries. China will build an Italy Exhibition Hall in its national museum and hold exhibitions of Italian cultural relics in the hall over the next four to five increasing asymptoticyears.
China will send experts to Italy to select representative exhibits and set specific out-does Santos 4-3 requirements for the way the exhibits are displayed, introductions to exhibits and other aspects. In addition, Italy will also build a 600-square-meter China Exhibition Hall in the Palazzo di Venezia in Rome.
Experts said that the sharing and cooperation of museum collections through exhibitions are the main way for Chinese museums to make up for the lack of collections. In fact, some domestic museums have made efforts in this regard. The Italy Exhibition Hall is yet another encouraging result of the national museum's cooperation with its foreign 5 still missingcounterparts.
China and Italy signedsuper typhoon Megi an agreement in early October to establish exhibition halls in each other's countries. China will build an Italy Exhibition Hall in its national museum and hold exhibitions of Italian cultural relics in the hall over the next four to five increasing asymptoticyears.
China will send experts to Italy to select representative exhibits and set specific out-does Santos 4-3 requirements for the way the exhibits are displayed, introductions to exhibits and other aspects. In addition, Italy will also build a 600-square-meter China Exhibition Hall in the Palazzo di Venezia in Rome.
Experts said that the sharing and cooperation of museum collections through exhibitions are the main way for Chinese museums to make up for the lack of collections. In fact, some domestic museums have made efforts in this regard. The Italy Exhibition Hall is yet another encouraging result of the national museum's cooperation with its foreign 5 still missingcounterparts.
hot money
Monetary authorities vowed Tuesday to beef up tracking on foreign capital inflows in an effort to stop speculative funds from flooding into China, following the latest US stimulus measures that experts said have set off alarm bells for the nation.
The pledge was timed to coincide with two senior central bank officials' warnings over possible inflation and market bubbles in the wake of the US Federal Reserve's second round of quantitative easing (QE2)Investigation results an-nounced last week.
"With the US restarting quantitative easing, we will pay greater attention to inflation and every change in the economy index," Du Jinfu, assistant governor of the People's Bank of China, said Tuesday at a forum held in Beijing.
Separately, Ma Delun, another central bank assistant governor, said, "The US should not only base its currency policies on its own interests, but also to stabilize the global economy."
The State Administration of Foreign Exchange said in a statement Tuesday that it would strengthen the system on monitoring foreign funds in order to keep close track on the whereabouts of capital flows. The government will tighten the management of banks' foreign-debt quotas and introduce new rules on their currency provisioning, the statement said.
Song Guoliang, a professor with the School of Banking and Finance at the University of Internationalblacks: report Business and Economics, told the Global Times Tuesday that the current foreign exchange regulation policy is effective in controlling the inflow of capital in large sums, but China should guard against the inflow of capital from private and illegal channels.
"We cannot afford to ignore such money flowing into the Chinese market. It comes from underground banks or fake trade orders. But, from our previous experience, the inflow of hot money will not do devastating damage to China's financial markets under the current financial surveillance program," Song said.
Michael Pettis, a Beijing-based finance professor, said over-intervening in the market would lead to an increase of illegal money flows, which are untraceable and hurt the market system in the long term.
"In China, hot money flows in illegally.rare monkeys Most of it comes in through small businesses that have operations in both China and abroad. Since it's never been declared, it's very difficult to detect," he said.
Zhou Xiaochuan, governor of the central bank, said Friday that Chinese regulators would work to prevent abnormal capital inflows by bolstering foreign exchange controls and maintaining overall liquidity at a proper level.
The US Federal Reserve's move of absorbing $600 billion worth of long-term bonds and keeping interest rates low allows money to flow from the US to emerging economies, such as China, where interest rates are higher.
Though the pressure from hot money in is increasing, China is not facing any danger of a massive influx at this moment, Deng Xianhong, vice director of the State Administration of Foreign Exchange, said in an interview with China Central Television.
Deng said he believes the expectations of a yuan appreciation, a stock market boom and rising realmarine species estate prices are the main reasons for hot money targeting China.
Though China has already closed down 13 large illegal private banks this year, he suggested that related foreign exchange departments should also promote reform and the facilitation of investment and trade.
Deng said monetary authorities should properly handle the relationship between cracking down on hot money and the improvement of the winner takes it allthe foreign exchange management system.
The pledge was timed to coincide with two senior central bank officials' warnings over possible inflation and market bubbles in the wake of the US Federal Reserve's second round of quantitative easing (QE2)Investigation results an-nounced last week.
"With the US restarting quantitative easing, we will pay greater attention to inflation and every change in the economy index," Du Jinfu, assistant governor of the People's Bank of China, said Tuesday at a forum held in Beijing.
Separately, Ma Delun, another central bank assistant governor, said, "The US should not only base its currency policies on its own interests, but also to stabilize the global economy."
The State Administration of Foreign Exchange said in a statement Tuesday that it would strengthen the system on monitoring foreign funds in order to keep close track on the whereabouts of capital flows. The government will tighten the management of banks' foreign-debt quotas and introduce new rules on their currency provisioning, the statement said.
Song Guoliang, a professor with the School of Banking and Finance at the University of Internationalblacks: report Business and Economics, told the Global Times Tuesday that the current foreign exchange regulation policy is effective in controlling the inflow of capital in large sums, but China should guard against the inflow of capital from private and illegal channels.
"We cannot afford to ignore such money flowing into the Chinese market. It comes from underground banks or fake trade orders. But, from our previous experience, the inflow of hot money will not do devastating damage to China's financial markets under the current financial surveillance program," Song said.
Michael Pettis, a Beijing-based finance professor, said over-intervening in the market would lead to an increase of illegal money flows, which are untraceable and hurt the market system in the long term.
"In China, hot money flows in illegally.rare monkeys Most of it comes in through small businesses that have operations in both China and abroad. Since it's never been declared, it's very difficult to detect," he said.
Zhou Xiaochuan, governor of the central bank, said Friday that Chinese regulators would work to prevent abnormal capital inflows by bolstering foreign exchange controls and maintaining overall liquidity at a proper level.
The US Federal Reserve's move of absorbing $600 billion worth of long-term bonds and keeping interest rates low allows money to flow from the US to emerging economies, such as China, where interest rates are higher.
Though the pressure from hot money in is increasing, China is not facing any danger of a massive influx at this moment, Deng Xianhong, vice director of the State Administration of Foreign Exchange, said in an interview with China Central Television.
Deng said he believes the expectations of a yuan appreciation, a stock market boom and rising realmarine species estate prices are the main reasons for hot money targeting China.
Though China has already closed down 13 large illegal private banks this year, he suggested that related foreign exchange departments should also promote reform and the facilitation of investment and trade.
Deng said monetary authorities should properly handle the relationship between cracking down on hot money and the improvement of the winner takes it allthe foreign exchange management system.
2010年11月8日星期一
S.Korea-China relationship
South Korean President Lee Myung-bak said he pins high hopes on the future of the relationship between his due to crowd violencecountry and China, as the two nations have achieved rapid and all-round development of bilateral relations.
In a recent interview with Xinhua and six other major media in the world ahead of the G20 Seoul Summit, Lee said, since the establishment of diplomatic ties in 1992, relations between the two countries have progressed by leaps and bounds. Notably, bilateral relations were elevated to a strategic cooperative partnership in 2008. In light of this, he pins high hopes on the future of the bilateral relationship.
Forprevent disasters in next five years the sake of the success of the upcoming G20 Summit, Seoul and Beijing are currently working closely together on key issues such as the development agenda, Lee said.
The president said he is scheduled to have a separate meeting with Chinese President Hu Jintao on the sidelines of the summit, and the two leaders will have in-depth discussions on ways to further develop bilateral relations, including a South Korea-China free trade agreement (FTA), and issues of mutual concern such as recent developments surrounding the Korean Peninsula.
He said South Korea and China share the common goal of denuclearization on the Korean Peninsula and bringing peace and stability to the region. Seoul intends to continue to promote the South Korea-China strategic cooperative partnership, thereby making further contributions not only for mutual benefits but also for regional prosperity and Hotel in Copenhagen progress.
Lee also spoke highly of China's role in the G20 framework and its contribution to the development of the G20 mechanism.
At the first G20 summit held in Washington in November 2008, China voiced active support to Seoul's position on opposing trade protectionism, Lee said.
China also has been active in participating in relevant consultation over the exchange rate issues, and extended active help to make the issue as one of the main items at the G20 Seoul summit, though it has lots of differences with the United States and the EU in the regard, Lee added.
"In light of this, I view that China has made great contribution to the development of thesupport for orphans G20 mechanism, and I high rate it," Lee said.
Lee also expressed his appreciation for Chinese leaders' support to Seoul's successful hosting of the summit.
With "Shared Growth Beyond Crisis"Italy Euro 2012 qualifier as its official slogan, the G20 Seoul Summit is to be attended by 32 heads of state and leaders of international organizations, who will discuss main issues including reform of the IMF and the finance sector, the establishment of financial safety nets, ways to address global imbalances and international cooperation on the exchange rate issue.
In a recent interview with Xinhua and six other major media in the world ahead of the G20 Seoul Summit, Lee said, since the establishment of diplomatic ties in 1992, relations between the two countries have progressed by leaps and bounds. Notably, bilateral relations were elevated to a strategic cooperative partnership in 2008. In light of this, he pins high hopes on the future of the bilateral relationship.
Forprevent disasters in next five years the sake of the success of the upcoming G20 Summit, Seoul and Beijing are currently working closely together on key issues such as the development agenda, Lee said.
The president said he is scheduled to have a separate meeting with Chinese President Hu Jintao on the sidelines of the summit, and the two leaders will have in-depth discussions on ways to further develop bilateral relations, including a South Korea-China free trade agreement (FTA), and issues of mutual concern such as recent developments surrounding the Korean Peninsula.
He said South Korea and China share the common goal of denuclearization on the Korean Peninsula and bringing peace and stability to the region. Seoul intends to continue to promote the South Korea-China strategic cooperative partnership, thereby making further contributions not only for mutual benefits but also for regional prosperity and Hotel in Copenhagen progress.
Lee also spoke highly of China's role in the G20 framework and its contribution to the development of the G20 mechanism.
At the first G20 summit held in Washington in November 2008, China voiced active support to Seoul's position on opposing trade protectionism, Lee said.
China also has been active in participating in relevant consultation over the exchange rate issues, and extended active help to make the issue as one of the main items at the G20 Seoul summit, though it has lots of differences with the United States and the EU in the regard, Lee added.
"In light of this, I view that China has made great contribution to the development of thesupport for orphans G20 mechanism, and I high rate it," Lee said.
Lee also expressed his appreciation for Chinese leaders' support to Seoul's successful hosting of the summit.
With "Shared Growth Beyond Crisis"Italy Euro 2012 qualifier as its official slogan, the G20 Seoul Summit is to be attended by 32 heads of state and leaders of international organizations, who will discuss main issues including reform of the IMF and the finance sector, the establishment of financial safety nets, ways to address global imbalances and international cooperation on the exchange rate issue.
U.S. new monetary policy
China said Monday that it was concerned with and has questions about the U.S. new monetary policy, and will discuss it with the U.S. at the upcoming G20 China to encourage private summit in Seoul.
Vice Minister of Finance Zhu Guangyao made the remarks at a press briefing on President Hu Jintao's attendance to the meeting, responding questions concerning the the U.S. Federal Reserve's (Fed) second round of quantitative easing, QE2.
The FedChina launches stringent plans to purchase 600 billion U.S. dollars worth of government bonds in a bid to revive the sluggish U.S. economy.
"We will have candid discussions with the U.S. side. We hope its macroeconomic policy can be conducive to the development of the world economy, not the contrary," Zhu said.
This is the second round of such stimulus measures, after the U.S. Federal Reserve (Fed) purchased 1.7 trillion U.S. dollars worth of mortgage-backed securities and treasury notes between December 2008 and March 2010 in a bid to keep the economy from plunging into another GreatWorld Heart Day Depression.
"The current situation is totally different from the time of the first round. There's no shortage of funds in the financial market," Zhu said.
He urged the United States to "realize its responsibility and obligation as a major currency issuing country, and take responsible macroeconomic policies." The communique of the meetings of G20 finance ministers and central bank governors has stressed that countries with systemic influence should pay attention to the "spillover effect" of their macroeconomic policy.
Aswith arrogance the recovery of world economy is still unstable, a responsible macroeconomic policy will not only be good for the United States, but also the world as a whole, the vice finance minister said.
He added that China will hold candid discussions with the U.S. side on the issue, as part of the dialogue on the macroeconomic policies.
The G20 summit will be held from with arrogance Nov. 11 to 12 in Seoul of the Republic of Korea (ROK).
Vice Minister of Finance Zhu Guangyao made the remarks at a press briefing on President Hu Jintao's attendance to the meeting, responding questions concerning the the U.S. Federal Reserve's (Fed) second round of quantitative easing, QE2.
The FedChina launches stringent plans to purchase 600 billion U.S. dollars worth of government bonds in a bid to revive the sluggish U.S. economy.
"We will have candid discussions with the U.S. side. We hope its macroeconomic policy can be conducive to the development of the world economy, not the contrary," Zhu said.
This is the second round of such stimulus measures, after the U.S. Federal Reserve (Fed) purchased 1.7 trillion U.S. dollars worth of mortgage-backed securities and treasury notes between December 2008 and March 2010 in a bid to keep the economy from plunging into another GreatWorld Heart Day Depression.
"The current situation is totally different from the time of the first round. There's no shortage of funds in the financial market," Zhu said.
He urged the United States to "realize its responsibility and obligation as a major currency issuing country, and take responsible macroeconomic policies." The communique of the meetings of G20 finance ministers and central bank governors has stressed that countries with systemic influence should pay attention to the "spillover effect" of their macroeconomic policy.
Aswith arrogance the recovery of world economy is still unstable, a responsible macroeconomic policy will not only be good for the United States, but also the world as a whole, the vice finance minister said.
He added that China will hold candid discussions with the U.S. side on the issue, as part of the dialogue on the macroeconomic policies.
The G20 summit will be held from with arrogance Nov. 11 to 12 in Seoul of the Republic of Korea (ROK).
2010年11月7日星期日
global recovery
China hopes the upcomingAfter disaster G20 summit in South Korea will help promote global economic recovery and deepen reforms of the world's financial systems, Chinese Commerce Minister Chen Deming said Sunday.
"We hope the G20 can play a big role in promoting global monetary reforms and governance, and help the global economy to have strong, sustainable and balanced growth," Chen told Reuters while accompanying Presidentsurvey finds Hu Jintao's state visit to Portugal.
China's trade surplus in 2011 "will be manageable" as the country's foreign trade prospect is murky, facing global economic uncertainties, Chen said.
"I believe China's foreign trade will continue to grow next year but the growth will not be very strong," the minister added.
Chinese trade officials have forecast the trade surplus in 2010 could fall to $180 billion from $196 billion in 2009.
Concerns over global trade imbalances, including China's trade surpluses with some Western nations, and the threat of a "currency war" will top the agenda at the meeting of G20 leaders on November 11-12 in South Korea.
During President Hu Jintao'sTwo opportunities in life recent visit to France, China signed of more than $20 billion worth of airline, petrochemicals and nuclear fuel deals, including contracts to buy 102 Airbus planes.
Chen said Friday that Beijing was not deliberately targeting a trade surplus and would welcome a more balanced relationship with its trade partners, but Europe must play a role by ensuring its own markets were open for Chinese investment.
Hu has given his support to President Nicholas Sarkozy's initiatives to reform the global financial system, but the pace of changes should be gradual, Vice Foreign Minister Fu Ying told Reuters Saturday.
China has won France's understanding that the Chinese trade surplus was mainly caused by structural factors rather than the foreign exchange rate, Fu said.
"We have gained common ground on the exchange rate issue. China's view is that every country should take responsibilities in maintaining stable exchange rates," she said.
And, President Hu Jintao ended his 4-day visit to France and Protugal Sunday with stronger European ties. TheHave said goodbye official visits to France and Portugal brought China smoother access to the European market.
On Sunday, Hu presided over the signing of trade agreements and deals on infrastructure, logistics, renewable energy and tourism projects worth $1 billion with Portuguese Prime Minister Jose Socrates. The two sides agreed to work to double their bilateral trade by 2015.
Hu also said he will encourage Chinese companies to invest in Portugal, while China invited Portuguese firms to sell more goods in China.
In an example of potential mutual investment, Portugal's largest company and utility EDP said China Power Holding International, with which it signed an agreement for a potential partnership, had expressed interest in buying a stake in the Portuguese company.
Analysts said that Chinese investment will help revive one of the European Union's frailest economies.
"China's deals with Portugal and France showed Beijing's strong confidence and support for their economies," said Jin Ling, a scholar on European studies with the China Institute of International Studies.
As a European Union member and a eurozone founder, Portugal is closely integrated with European markets and enjoys advantages in economic and other ties with Portuguese-speaking countries in Africa and Latin America.
An economic forum on trade between China and Portuguese-speaking countries will be held in Macao on Nov 14 and 15. Premierupgrade security facility Wen Jiabao is scheduled to attend.
Hu's European visit not only achieved stronger bilateral ties but also resulted in greater coordination on global issues ahead of the G20 summit.
"We hope the G20 can play a big role in promoting global monetary reforms and governance, and help the global economy to have strong, sustainable and balanced growth," Chen told Reuters while accompanying Presidentsurvey finds Hu Jintao's state visit to Portugal.
China's trade surplus in 2011 "will be manageable" as the country's foreign trade prospect is murky, facing global economic uncertainties, Chen said.
"I believe China's foreign trade will continue to grow next year but the growth will not be very strong," the minister added.
Chinese trade officials have forecast the trade surplus in 2010 could fall to $180 billion from $196 billion in 2009.
Concerns over global trade imbalances, including China's trade surpluses with some Western nations, and the threat of a "currency war" will top the agenda at the meeting of G20 leaders on November 11-12 in South Korea.
During President Hu Jintao'sTwo opportunities in life recent visit to France, China signed of more than $20 billion worth of airline, petrochemicals and nuclear fuel deals, including contracts to buy 102 Airbus planes.
Chen said Friday that Beijing was not deliberately targeting a trade surplus and would welcome a more balanced relationship with its trade partners, but Europe must play a role by ensuring its own markets were open for Chinese investment.
Hu has given his support to President Nicholas Sarkozy's initiatives to reform the global financial system, but the pace of changes should be gradual, Vice Foreign Minister Fu Ying told Reuters Saturday.
China has won France's understanding that the Chinese trade surplus was mainly caused by structural factors rather than the foreign exchange rate, Fu said.
"We have gained common ground on the exchange rate issue. China's view is that every country should take responsibilities in maintaining stable exchange rates," she said.
And, President Hu Jintao ended his 4-day visit to France and Protugal Sunday with stronger European ties. TheHave said goodbye official visits to France and Portugal brought China smoother access to the European market.
On Sunday, Hu presided over the signing of trade agreements and deals on infrastructure, logistics, renewable energy and tourism projects worth $1 billion with Portuguese Prime Minister Jose Socrates. The two sides agreed to work to double their bilateral trade by 2015.
Hu also said he will encourage Chinese companies to invest in Portugal, while China invited Portuguese firms to sell more goods in China.
In an example of potential mutual investment, Portugal's largest company and utility EDP said China Power Holding International, with which it signed an agreement for a potential partnership, had expressed interest in buying a stake in the Portuguese company.
Analysts said that Chinese investment will help revive one of the European Union's frailest economies.
"China's deals with Portugal and France showed Beijing's strong confidence and support for their economies," said Jin Ling, a scholar on European studies with the China Institute of International Studies.
As a European Union member and a eurozone founder, Portugal is closely integrated with European markets and enjoys advantages in economic and other ties with Portuguese-speaking countries in Africa and Latin America.
An economic forum on trade between China and Portuguese-speaking countries will be held in Macao on Nov 14 and 15. Premierupgrade security facility Wen Jiabao is scheduled to attend.
Hu's European visit not only achieved stronger bilateral ties but also resulted in greater coordination on global issues ahead of the G20 summit.
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