In This EditionChina's Minister of Defense begins an official visit to the United States.

A senior NATO official says the US-led NATO missile defense system for Europe is not targeting Russia.

France's presidential candidates come in their final day of campaigning before Sunday's run-off vote.

And Bank of Communications forecasts China's CRI in April is expected to ease a little following a 3.6-percent rise in March.

Hot Issue ReportsThe 4th China-US S&ED Ends with Positive ResultsThe latest installment of the Strategic and Economic Dialogue between China and the United States has now come to an end here in Beijing.

Chinese President Hu Jintao hailed the positive results during the talks. He also called for the two sides to fully utilize the talks in strengthening strategic communication and enhancing mutual trust.

Hu also urged the two nations to respect each other's core interests and appropriately address differences in order to create a better future for China-U.S. relations.

China's State Councillor Dai Bingguo said both countries' representatives have been open in the discussions.

"There is nothing we haven't talked about; a boundless range of issues. There's nothing we haven't discussed. But I think we have discussed one fundamental issue; that is how to build a new China-U.S. relationship, a new relationship between great powers."US Secretary of State Hillary Clinton said the bilateral ties are stronger than they have every been.

"We have become able to talk about everything. And whether it is dealing with the new leadership in Pyongyang and ensuring the security and stability of the Korean peninsula, or our efforts to work together to prevent Iran from acquiring a nuclear weapon, or to try to deal with the regional challenges of Sudan and South Sudan, or the difficult situation in Syria, we have made progress in many areas."Clinton said the U.S. expressed its wishes to work with China in order to maintain high-level contact, bridge differences, expand cooperation and address difficulties and challenges.

US Treasury Secretary Timothy Geithner said he appreciates China's firm commitment to advancing economic reform and opening up its market.

Initiated by the heads of state of the two countries, the annual Strategic & Economic Dialogue has become a major channel for high-level communication between China and the U.S.

Chinese DM's US Tour to Offset DisputesChina's Minister of Defense has now begun an official visit to the United States.

As CRI's Wei Tong reports, analysts are suggesting Liang Guanglie's time in the US is likely to be focused on rebuilding trust between the countries' militaries.

During the visit, Liang will meet with US state and military leaders, and hold talks with US Defense Secretary Leon Panetta.

His trip will also take him to a number of strategic US military sites as well.

Jin Canrong, Associate Dean of the School of International Studies at Renmin University, says Liang Guanglie's time is likely going to be focused on trying to restore the relationship with the US military establishment which became soured by the US decision to sell arms to Taiwan.

"The military ties between China and the US are comparatively weak to the relations in other sectors. If we can improve the military ties, our overall bilateral relations will get more stable. But the preconditions for improving relations are that the US halts arms sales to Taiwan, stops military's constant low-altitude and offshore reconnaissance to China, and lift restrictions set by the US laws on bilateral military exchanges."In 2010, the Chinese side cancelled scheduled military talks with the US after the Obama administration announced plans to sell 6.4 billion US dollars worth of arms to Taiwan.

Ahead of his trip, Liang Guanglie also held meetings with a number of US officials as part of the Strategic and Economic Dialogue this week.

One of the likely issues up for discussion will be the territorial disputes in the South China Sea.

The US side has been pushing to have the disputes solved through a multi-lateral framework, something the Chinese side is opposed to.

Despite this difference, Gao Zugui, senior researcher with the CPC's Party School, says the relatioship between the US and Chinese militaries should still be able to see their relationship move forward.

"China and the US need to overcome some difficulties when the bilateral military ties can be enhanced in compliance with the relations between major countries. The two nations need to coordinate in maintaining peace and stability in the Asia-Pacific regions rather than military confrontation. Both sides should expand common interests and resolve differences."Meanwhile, a sideline of the tour will see Liang Guanglie visit to the families of the "Flying Tigers."The "Flying Tigers" were an American air squadron who flew on the side of the Chinese during the fight against the Japanese during World War II.

For CRI, I am Wei Tong.

Australian FM Commends Investment from ChinaAhead of his first visit to China as Australia's Foreign Minister, Bob Carr says Australia welcomes overseas investment from China.

CRI Australia Correspondent Chen Xi has more.

Amid growing concerns about the impact of foreign investment in Australia, Bob Carr says Australia's federal government welcomes overseas direct investment, especially from China.

Carr's comments come just over a week ahead of his first trip to China as Australia's foreign minister.

"China's investment in Australia has grown; it's grown in strategic sector of economy. For example, in mining, there is huge Chinese investment now in the mining sector. Australia's got a very open investment plan, this is true of foreign direct investment originating in China."Carr also says governments of different states in Australia are committed to employment and economic growth, which he says is powered by Chinese investment.

Statistics show the Australian mining industry still remains the focus of foreign investment, reaching 55 billion Australian Dollars, or over 350 billion RMB, in the fiscal year 2010-2011.

With investment of 15 billion Australian dollars directly from Chinese investors, China now stands as Australia's third largest source of foreign investment in Australia following the United States and Britain.

Aside from economics, Carr says his first official trip to China as the Australian Foreign Minister will focus on trying to shore-up the Australia-China relationship.

"I'm proud to be saying that today I will be visiting China as foreign minister of Australia. The bilateral relationship is very very important for both countries. We'll soon be reaching the 40th anniversary of diplomatic relations between and China. And Australians of my age remember that Gough Whitlam would open diplomatic relations between Australia and China."Carr is due to begin his trip to China on May 13th.

For CRI, I'm Chen Xi, Sydney Australia.

NATO Urges Cooperation with Russia on European Missile Defense SystemNATO is now moving to try to ease tensions with Russia.

NATO Deputy Secretary General Alexander Vershbow says the US-led NATO missile defense system for Europe is not targeting Russia.

"We have no desire at all to disturb global strategic stability. Quite the contrary, NATO's missile defence will be capable of intercepting only a small number of relatively unsophisticated ballistic missiles. It doesn't have the capability to neutralise Russia's deterrent. Our NATO system is not designed against nor directed at Russia."The statement comes following comments by Russian Defense Minister Anatoly Serdyukov, who says talks between Moscow and Washington on the European missile defense plans are deadlocked.

"Our countries face a dilemma: either we pass the test for cooperation and react jointly to new missile challenges and threats, or we'll be forced to take military and technological measures depending on the realization of the anti-missile plans. Lately we are hearing more and more opinions so that it is practically impossible to agree on anti-ballistic missile defense."Moscow has long opposed the deployment of the system near its borders.

The missile program has, in the past, prompted Russian President-elect Vladimir Putin, to warn of the possibility of another arms race developing.

French Candidates in Last Day of CampaigningFrance's presidential candidates are now in their final day of campaigning before Sunday's presidential run-off.

Socialist presidential hopeful Francois Hollande appears poised to roll to an easy victory over incumbent Nicolas Sarkozy.

Addressing his supporters, Hollande is slamming -- what he describes -- as Sarkozy's attempt to pander to right-wing voters who voted strongly for National Front leader Marine Le Pen in the first round.

"It's just efforts that are not rewarded. But there is a justice. When one was president of failure, one cannot be a candidate of hope."Sarkozy, on the other hand, continues to push the economy, saying its his economic policies that have helped shield France from the worst of the European downturn.

"The crisis has made life harder for many of our fellow countrymen. The crisis has destroyed jobs, the crisis has torn lives apart, the crisis has created suffering. But thanks to the efforts of everyone, France has resisted.　France wasn't engulfed by the crisis like a wisp of straw, like many other countries were. We have made it."The most recent polling shows Hollande leading by a roughly 6 percent margin.

China's CPI in April Expected to FallBank of Communications is now forecasting the CPI here in China is expected to ease in April.

The BOC is now forecasting the Consumer Price Index is going to come in at 3.3-percent in April.

That would be down from the 3.6-percent rise in March.

The bank is attributing the downward trend to slower food price increases and a smaller carryover effect from last year.

The official statistics will come out next week.

For more on this, CRI's Paul James earlier talked to Shen Hong, China Bureau Chief with Dow Jones Newswires.

Private Owned Gas Stations Reduce Gas PriceChinese energy insiders are now suggesting that changes to the way the central authorities price fuel is one of the key reasons why a number of refiners here in China are now offering up deals below market rates.

CRI's Wang Xiao explains.

Although the government's price for processed oil has increased, many privately owned gas stations haven't increased their retail price. Yang Delong, chief analyst at China Southern Fund, explains why.

"The financial losses announced by Sinopec and PetroChina are calculated based on the present high international crude oil price. In fact, the oil in stock has been bought at a relatively low price in the past. Therefore, privately owned gas stations have reduced their prices based on volume, which is a common sales promotion method."In addition, some refining and chemical companies have set lower ex-factory prices for gasoline and diesel. Shandong Changyi Petrochemical Corporation is the largest local refining and chemical company. At present, its ex-factory wholesale price for 93-octane gasoline is 9,220 yuan per ton, 230 yuan lower than the pricing guidelines set by the National Development and Reform Commission. Jiang Hui is manager of the company's Sales Department.

"Our ex-factory price is lower than those of Sinopec and PetroChina. The price difference is caused by the brand recognition, although we produce products of the same quality. Only if we sold gasoline at a lower price would privately owned petrol companies and gas stations likely buy it from us."Jiang also says lower price complies with the tumble in the global crude oil market in past five weeks. Industry insiders point out that local petrochemical companies have to transform crude oil into processed products and get rid of their stock as soon as possible to reduce losses caused by price differences.

Professor Dong Xiucheng from the China University of Petroleum says the price decrease as well as the diesel shortage, which occur every year, are caused by the government's pricing system.

"The main problem is the long period of price adjustment, because it causes hoarding and waves of selling. These make the market unstable and unhealthy."According to the current regulations, the price of domestically processed oil will be adjusted when the international crude oil price fluctuates by 4 percent on average during 22 consecutive working days. He suggests making more frequent adjustment along with the changes in the international market.

For CRI, I'm Wang Xiao.

Celebrities Attend Louis Vuitton Store Opening in TaipeiHong Kong actress Maggie Cheung and Korean singer/actress Yoon Eun-hye were among the stars attending the opening party of the flagship Louis Vuitton store in Taipei.

The party was held in Taipei 101 - Taiwan's tallest building, alongside other stores like Burberry.

Veteran Hong Kong actress Maggie Cheung made an appearance as the DJ for the party.

Cheung says she's not looking for movie roles at the moment and is enjoying new things:

"It's not that if there is a really good script comes my way, that I won't consider. It's just I don't necessary going out and look for the role. Right now, for me, I am more interested in trying out new thing (other than being in a　movie). "Korean singer and actress Yoon Eun Hye, took a break from her university studies to attend the party.

She told press she hopes to come back to work on movies or a TV series by the end of the year.

Louis Vuitton first opened a store in Taiwan in 1987 - the latest venture follows an increasing Taiwanese appetite for LV creations.

GuardianEditors of Vogue magazine worldwide have said they will not use models under the age of 16, or those they believe have an eating disorder.

The magazine says it will ensure that fashion models are well cared for and given advice to help them better look after their wellbeing.

Models under 16 have been banned from appearing in both the London and New York fashion weeks. Vogue editors have criticised designers who supply very small clothes samples, which they believe encourages the use of too-skinny models.

The magazine will also ask modelling agents not to knowingly send them underage girls, and request that casting directors check models' ages when casting shoots, shows and campaigns.

They also call for healthier backstage working conditions at shows and shoots, including providing models with healthy food options and respecting their privacy.

Less than a third (29.1%) of those surveyed by the Model Alliance reported that they felt they could tell their agency if they were experiencing sexual harassment. More than two-thirds (68.3%) said they suffered from anxiety or depression.

CNNHigh-wire walker Nik Wallenda has announced he will attempt to walk a tightrope over Niagara Falls on June 15, the first person to do so in more than a century.

Wallenda will walk a 2-inch cable attached to massive cranes on each side of the falls, about 1,800 feet across, and 200 feet up from the bottom of the gorge.

The crossing should take about 30 to 40 minutes and is planned to take place in early evening.

Wallenda said he will be the first to cross directly over the waterfall as the other people all crossed farther down.

In September New York Gov. Andrew Cuomo signed a bill giving Wallenda permission to perform the feat.

Canadian authorities gave him the go-ahead in February, specifying that they would grant permission for such spectacular acts only once every generation.

Nik Wallenda is a seventh-generation performer in the famed circus family known as The Flying Wallendas.

Wallenda, who calls himself "the king of the high wire," has broken several world records and holds the Guinness Record for crossing the longest and highest high wire on a bicycle.

Daily MailScientist David Edwards and designer Philippe Starck have created WA|HH Quantum Sensations, a spray canister that puffs a whiff of alcohol that mimics the effects of a martini for just a moment.

The duo unveiled their product on Wednesday in Paris and promise that the 'food spray for the future' won't leave their customers with splitting headaches.

Each WA|HH canister, which contains 2 millimeters of alcohol, delivers just 0.075 millimeters per dose, a thousand times less than a cocktail. Each canister costs 26 dollars.

People who puff will even be able to pass a breathalyzer test moments after ingesting the spray.

Users will feel instantly light-headed when the vapor hits the mouth, but the feeling will pass as quickly as it came.

Mr Edwards has invented several other flavor sprays, including ones that taste of chocolate or coffee, without having to eat or drink.

Market UpdateU.S. stocks plummeted on Friday after the government's highly-anticipated monthly jobs report came in weaker than expected.

The Dow Jones industrial average gave up 1.3 percent to 13,038. The Standard & Poor's 500 sank 1.6 percent to 1,369. The Nasdaq Composite Index tumbled 2.3 percent to 2,956.

In Europe, London's FTSE 100 lost 1.9 percent to 5655. Frankfurt's DAX lost 2 percent to 6561. CAC 40 in Paris shed 1.9 percent to 3162.