Mitt Romney Thursday unveiled a new "Day One" ad, his second in recent days, describing what he'd do on Jan. 20, 2013, his first day in office if elected president in November.

The new ad says he'll move quickly on deficit reduction and end the era of big government. Though he can propose cuts, he'll need Congress' consent for big changes, and that is unlikely to happen quickly. He also talks about cutting regulations and getting tough with China.

Here's the ad:

VIDEO TEXT: “What would a Romney Presidency be like?”

VOICEOVER: “What would a Romney Presidency be like?”

VIDEO TEXT: “Day 01”

VOICEOVER: “Day one, President Romney announces deficit reductions, ending the Obama era of big government, helping secure our kids’ futures.”

VIDEO TEXT: “End Obama era of Big Government”

VOICEOVER: “President Romney stands up to China on trade and demands they play by the rules.”

VIDEO TEXT: “Make China Play By The Rules”

VOICEOVER: “President Romney begins repealing job-killing regulations that are costing the economy billions.”

VIDEO TEXT: “Repeal Job-killing Regulations”

VOICEOVER: “That’s what a Romney Presidency will be like.”

MITT ROMNEY: “I’m Mitt Romney and I approve this message

White House National Security Advisor Thomas E. Donilon will leave Friday for China and India, the administration announced.

In Beijing, Donilon will meet with Vice Premier Wang Qishan and State Councilor Dai Bingguo. He'll discuss "a wide range of bilateral, regional and global issues of mutual concern," the White House said.

After that. he'll head to India for meetings with officials including National Security Advisor Shiv Shankar Menon. The White House said he'll talk about "recent developments in the U.S.-India strategic
partnership, and discuss ways to advance key elements of the relationship, including both countries’ participation in the upcoming East Asia Summit."

President Obama next month will host Asian leaders at an Asia-Pacific Economic Cooperation summit in Hawaii, then will attend an East Asia summit in Indonesia.

Vice President Joe Biden is facing a barrage of criticism for saying he understands and will not second guess China's "one child" policy, a policy that human rights groups say leads to forced abortions and sterilizations.

Biden was telling a Chinese audience about efforts to cut the federal budget in the United States when he introduced the idea of China's efforts to restrict population growth.

“Your policy has been one which I fully understand -- I’m not second-guessing -- of one child per family," Biden said during a speech Sunday at Sichuan University in Chengdu, China.

"The result being that you’re in a position where one wage earner will be taking care of four retired people.  Not sustainable," he added. "So hopefully we can act in a way on a problem that's much less severe than yours, and maybe we can learn together from how we can do that."

Christian conservatives and Republicans criticized Biden for signaling acceptance of the controversial policy.

"China’s one child policy has led to the great human tragedy of forced abortions throughout China, and Vice President Biden’s refusal to ‘second-guess’ this horrendous policy demonstrates great moral indifference on the part of the Obama Administration," said Gov. Rick Perry of Texas, a candidate for the 2012 Republican presidential nomination.

"Americans value life, and we deserve leaders who will stand up against such inhumanity, not cast a blind eye.”

House Speaker John Boehner, R-Ohio, said he was "deeply troubled" by Biden's remarks. He said China's "reprehensible" one-child policy "has resulted in forced sterilizations and coerced abortions and should not be condoned by any American official."

Penny Nance, CEO and President of Concerned Women for America, a conservative group. Said that Biden's "approval of China’s one-child policy, which uses forced abortion to enforce the law, crosses the lines of ignorant and wrong.

"Then to suggest that the United States should learn from China’s policy, like forcing its citizens to have only one child, to help manage debt, is an insult to the basic American values of life and liberty."

A spokeswoman for Biden said the critics have it backwards, that Biden was pointing out the Chinese policy is wrong.

"The Obama Administration strongly opposes all aspects of China’s coercive birth limitation policies, including forced abortion and sterilization," said spokeswoman Kendra Barkoff.

"The Vice President believes such practices are repugnant.  He also pointed out, in China, that the policy is, as a practical matter, unsustainable.  He was arguing against the One Child Policy to a Chinese audience.”

Vice President Joe Biden took off Tuesday on a trip to China, Mongolia and Japan, his first to East Asia as vice president.

In China, he'll spend 4 days visiting Beijing, Chengdu and Dujiangyan City. Top on the agenda, visiting with Vice President Xi and developing relationships with the next generation of China's leaders.

In Mongolia, he'll spend a day visiting the capital of Ulaanbaatar, where he may be greeted with a demonstration of Mongolian sports including archery, horse racing and wrestling. "We're looking forward to that," said one aide.

Biden will be the first vice president to visit Mongolia since Henry Wallace in 1944.

Wrapping up with a two-day visit to Japan, Biden will go to Sendai, where U.S. forces helped reopen the airport after the earthquake this year.

By unanimous consent, the Senate confirmed former Commerce Secretary Gary Locke to be the new U.S. ambassador to China.

President Barack Obama plans to name Commerce Secretary Gary Locke, the son of Chinese immigrants, as the new ambassador to China, administration officials said Monday.

If confirmed by the Senate, Locke would replace Amb. Jon Huntsman, who is resigning and who has said he might seek the 2012 Republican presidential nomination to oppose Obama. Huntsman was the Republican governor of Utah when Obama tapped himto represent the US in Beijing.

The guest list for tonight's State Dinner at the White House:

THE PRESIDENT and MRS. OBAMA

HIS EXCELLENCY HU JINTAO

The Honorable Madeleine Albright, Washington, D.C.
    Ms. Alice Albright

Ms. Christiane Amanpour, ABC News, New York, NY
    Mr. James Rubin

The Honorable David Axelrod, Assistant to the President and Senior Advisor
    Mrs. Susan Axelrod

Mr. Jeffrey Bader, National Security Council
    Ms. Rohini Talalla

The Honorable Elizabeth Bagley, Washington, D.C.
    Mr. Kevin Frawley

Mr. Steven Ballmer, Microsoft, Redmond, WA
    Mrs. Connie Ballmer

Ms. Bette Bao Lord, New York, NY
       The Honorable Winston Lord

Mrs. Denise Bauer, Belvedere Tiburon, CA

The Honorable Howard Berman, Representative from California
      Mrs. Janis Berman
           
Vice President Joseph R. Biden, Jr.
       Dr. Jill Biden

The Honorable Joseph Beau Biden, III, Attorney General of Delaware, Wilmington, DE
       Mrs. Hallie Biden

His Excellency Zheng Bijian, Chairman, CIIDS

His Excellency Dai Bingguo, State Councilor

Mr. Lloyd Blankfein, Goldman Sachs, New York, NY
       Mrs. Laura Blankfein

The Honorable Antony Blinken, Deputy Assistant to the President and National Security Advisor, Office of the Vice President

The Honorable Stephen Breyer, United States Supreme Court
       Dr. Johanna Breyer

Mr. Greg Brown, Motorola, Schaumburg, IL
       Mrs. Anna-Louise Brown

The Honorable Dr. Zbigniew Brezezinski, McLean, VA
       Mrs. Emilie A. Brzezinski

The Honorable Kurt M. Campbell, Assistant Secretary of State for East Asian and Pacific Affairs
The Honorable Lael Brainard, Under Secretary of the Treasury for International Affairs

The Honorable James E. Carter, former President of the United States
       Mrs. Rosalynn Carter

Mr. Jackie Chan, Beverly Hills, CA
       Mr. Phillip Button

The Honorable Elaine Chao, Washington, D.C.
       Dr. James Chao

His Excellency Wang Chao, Vice Minister for Commerce

His Excellency Tung Chee Hwa, Vice Chairman, CPPCC, former Hong Kong Chief Executive

Mr. John A. Chen, Chairman, Committee of 100, New York, NY
       Mrs. Sherrie Chen

The Honorable Chris Christie, Governor of New Jersey, Trenton, NJ
       Mrs. Mary Pat Christie

The Honorable Judy Chu, Representative from California
       Ms. Chiling Tong

The Honorable Steven Chu, Secretary of Energy
       Mrs. Jean Chu

The Honorable Hillary R. Clinton, Secretary of State

The Honorable William J. Clinton, former President of the United States

The Honorable James E. Clyburn, Representative from South Carolina
       Mr. John Clyburn

The Honorable Richard Daley, Mayor of Chicago, Chicago, IL
       Mrs. Maggie Daley

The Honorable William Daley, Assistant to the President and Chief of Staff
       Ms. Bernadette Keller

His Excellency Chen Deming, Minister of Commerce

Mr. Jamie Dimon, JP Morgan Chase & Co., New York, NY
       Mrs. Judith Dimon

The Honorable Thomas Donilon, Assistant to the President and National Security Advisor
       Ms. Cathy Russell, Chief of Staff to Dr. Jill Biden

The Honorable Arne Duncan, Secretary of Education
       Mrs. Karen Duncan

Mr. James Fallows, The Atlantic, Washington, D.C.
       Mrs. Deborah Fallows

Mr. Xie Feng, Director General, MFA

Mr. Thomas Friedman, The New York Times, Washington, D.C.
       Mrs. Ann Friedman

The Honorable Michael B. Froman, Deputy Assistant to the President and Deputy National Security Advisor for International Economic Affairs
       Ms. Nancy Goodman

His Excellency Wan Gang, Minister of Science and Technology

The Honorable Robert M. Gates, Secretary of Defense
       Mrs. Becky Gates

The Honorable Timothy F. Geithner, Secretary of the Treasury
       Mrs. Carole Geithner

Mr. Mark Gilbert, Boca Raton, FL
       Mrs. Nancy Gilbert

The Honorable Chris Gregoire, Governor of Washington, Olympia, WA
       Ms. Courtney Gregoire

His Excellency Zhu Guangyao, Vice Minister for Finance

His Excellency Zhang Guobao, Vice Minister for NDRC

Mr. Herbie Hancock, Los Angeles, CA
      Mrs. GiGi Hancock

The Honorable Dr. John P. Holdren, Assistant to the President and Director of the Office of Science and Technology

The Honorable Robert Hormats, Under Secretary of State for Economic, Business, and Agricultural Affairs

The Honorable Steny Hoyer, Representative from Maryland, Democratic WHIP

His Excellency Wang Huning, Director of the Policy Research Office of CCCPC

The Honorable Jon Huntsman, U.S. Ambassador to China
       Mrs. Mary Kaye Huntsman

Mr. Robert Iger, The Walt Disney Company, Burbank, CA
       Ms. Willow Bay

Mr. David Ignatius, The Washington Post, Washington, D.C.
Dr. Eve Ignatius

Mr. Jeff Immelt, General Electric, Fairfield, CT
       Mrs. Andrea Immelt

The Honorable Valerie Jarrett, Senior Advisor and Assistant to the President for Intergovernmental Affairs and Public Engagement

His Excellency Li Jiaxiang, Vice Minister for Transportation

His Excellency Yang Jiechi, Minister of Foreign Affairs

His Excellency Ling Jihua, Director of the General Office of CCCPC

Mr. Robert Kagan, McLean, VA
       Ms. Victoria Nuland

Mr. Michael Kempner, East Rutherford, NJ
       Mrs. Jacqueline Kempner

Mr. Muhtar Kent, Coca-Cola, Atlanta, GA

The Honorable John F. Kerry, Senator from Massachusetts
       Mrs. Teresa Heinz Kerry

Mr. Robert King, UAW, Detroit, MI
       Ms. Julie Kushner

The Honorable Ron Kirk, United States Trade Representative
       Mrs. Matrice Ellis-Kirk

The Honorable Henry Kissinger, New York, NY
    Mrs. Nancy Kissinger

Mr. Nicholas Kristof, The New York Times, Scarsdale, NY
       Ms. Sheryl WuDunn

Ms. Ellen Kullman, DuPont, Wilmington, DE
       Mr. Michael Kullman

Dr. Zhang Kunsheng, Director-General, Protocol Department

Ms. Michelle Kwan, Torrance, CA

Mr. Lang Lang, New York, NY
      Mrs. Zhou Xiulan

The Honorable Jacob Lew, Deputy Secretary of State for Management and Resources

Ms. Maya Lin, New York, NY
       Mr. Daniel Wolf

Ms. Limin Liu, Reno, NV
       Dr. Hugh Shapiro

Mr. Andrew N. Liveris, The Dow Chemical Company, Midland, MI
       Mrs. Paula Liveris

The Honorable Gary Locke, Secretary of Commerce
       Mrs. Mona Locke

The Honorable Christopher Lu, Assistant to the President and Cabinet Secretary
       Ms. Kathryn Thomson

The Honorable Richard Lugar, Senator from Indiana
       Mrs. Charlene Lugar

Mr. Yo Yo Ma, Burbank, CA
       Ms. Jill Hornor

The Honorable Capricia Marshall, Chief of Protocol, Department of State

Mr. W. James McNerney, The Boeing Company, Chicago, IL
       Mrs. Haity McNerney

Mr. Evan Medeiros, Director for Asian Affairs, NSS

His Excellency Jiang Mianheng, Vice Chairman, CAS

Mr. Mel Monzack, Wilmington, DE
       Mrs. Ann Monzack

Admiral Michael G. Mullen, Chairman of the Joint Chiefs of Staff

Mrs. Wendi Deng Murdoch, New York, NY

Mr. James Murren, Las Vegas, NV
      Mrs. Heather Murren

The Honorable Thomas Nides, Deputy Secretary of State for Management and Resources
       Ms. Virginia Moseley

Mr. Paul Otellini, Intel, Santa Clara, CA
       Mrs. Sandy Otellini

The Honorable Nancy Pelosi, Representative from California, Democratic Leader
       Mr. Paul Pelosi

His Excellency Zhang Ping, Minister of NDRC

The Honorable David Plouffe, Assistant to the President and Senior Advisor
       Ms. Olivia Morgan

Mr. Tom Pritzker, Pritzker Organization, Chicago, IL
       Mrs. Margot Pritzker

His Excellency Wang Qishan, Vice Premier of the State Council

Ms. Jean Quan, Mayor of Oakland, CA
       The Honorable Edwin M. Lee, Mayor of San Francisco, CA

Ms. Azita Raji, JP Morgan Securities, Inc., Belvedere, CA
       Mr. Gary Syman

The Honorable Ben Rhodes, Deputy Assistant to the President and Deputy National Security Advisor for Strategic Communications and Speechwriting
       Ms. Ann Norris

The Honorable Susan Rice, United States Ambassador to the United Nations, New York, NY
       Mr. Ian Cameron

Mr. Robert Roche, Shanghai, CN

Mr. Kenneth Roth, The Human Rights Watch, Washington, D.C.
       Ms. Annie Sparrow

The Honorable Pete Rouse, Counselor to the President
       Ms. Courtney Chapin

Mr. David M. Rubenstein, The Carlyle Group, Washington, D.C.
       Mrs. Alice Rubenstein

Mr. Kirk Rudy, Austin, TX
       Mrs. Amy Rudy

The Honorable Brent Scowcroft, The Forum for International Policy, Washington, D.C.

The Honorable Kathleen Sebelius, Secretary of Health and Human Services
       The Honorable Gary Sebelius

The Honorable Susan Sher, Assistant to the President and Chief of Staff to the First Lady
       The Honorable Neil Cohen

Mr. Robert Sherman, Boston, MA
       Ms. Kim S. Sawyer

His Excellency Chen Shiju, Chief of the President’s Office

The Honorable George Shultz, Stanford, CA
       Mrs. Charlotte Shultz

Dr. Patrick Soon-Shiong, Culver City, CA
       The Honorable Phil Gordon, Mayor of Phoenix, Phoenix, AZ

The Honorable Gene Sperling, Assistant to the President for Economic Policy & Director of the National Economic Council
       Ms. Allison Abner

The Honorable Jim Steinberg, Deputy Secretary of State
    Ms. Sherburne B. Abbott

Ms. Barbra Streisand, Malibu, CA
Mr. James Brolin

The Honorable Tina Tchen, Deputy Assistant to the President and Director of the Office of Public Engagement

Mr. John Thornton, The Brookings Institution, HSBC North America, Palm Beach, FL
       Mrs. Margaret Thornton

His Excellency Cui Tiankai, Vice Minister of Foreign Affairs

Dr. Stanley Toy, Jr., Pasadena, CA
       Ms. Lana Toy

Mr. Luis Ubinas, The Ford Foundation, New York, NY
       Dr. Deborah Tolman

Mr. Jose Villarreal, Commissioner General, Shanghai Expo, San Antonio, TX
       Ms. Sara Villarreal

Ms. Vera Wang, New York, NY
       Mr. Arthur Becker

Mr. Steve Westly, Menlo Park, CA
       Ms. Anita Yu

Ms. Anna Wintour, Vogue Magazine, New York, NY
       Mr. Shelby Bryan

Ms. Patricia A. Woertz, Archer Daniels Midland, Decatur, IL
       Mr. Kelvin R. Westbrook

Mr. B.D. Wong, New York, NY
       Mrs. Roberta Wong

Mr. Charles Woo, Mega Toys, Los Angeles, CA
       Mrs. Ying Woo

The Honorable David Wu, Representative from Oregon
       Ms. Anna Kopperud

His Excellency Xie Xuren, Minister of Finance

His Excellency Zhang Yesui, Chinese Ambassador to the United States
    Madam Chen Naiqing

His Excellency Sun Yibiao, Vice Minister for Customs

The usual suspects are there, of course: Madeleine Albright, Christiane Amanpour and hubby James Rubin, Supreme Court Justice Stepehen Breyer, martial arts movie star Jackie Chan, jazz legend Herbie Hancock.

But what's Lloyd Blankfein, chairman of Goldman-Sachs doing at the state dinner for the visiting Chinese chairman? Perhaps a secret investment deal for Facebook?

Read the full guest list here.

The official White House program for the dinner, with menu, can be found here.

As of now, there's been no change of plans for next week's state visit to Washington by Chinese Preisdent Hu Jintao. The White House this week will start ramping up for the visit.

Over the weekend, Defense Secretary Robert Gates visited China to discuss military-to-military ties. He’ll also stop in Japan and South Korea.

On Wednesday, Treasury Secretary Tim Geithner will give a speech about the US-China economic relationship. He’ll talk at the Johns Hopkins School of Advanced International Studies.

On Thursday, Commerce Secretary Gary Locke will talk to the U.S. - China Business Council about efforts to help business gain more access to Chinese markets.

And on Friday, Secretary of State Hillary Clinton will deliver a major address at the State Department that presents our broad vision of U.S. - China relations in the 21st century, including our efforts to make progress on a range of bilateral, regional and global issues.

House Speaker Nancy Pelosi will take a break from the tax cut wars Friday to head to Oslo, Norway, for the 2010 Nobel Peace Prize ceremony honoring Chinese human rights activist Liu Xiaobo.

He was sentenced to 11 years in jail last year for "inciting subversion of state power” after authoring an online petition by Chinese citizens urging the Chinese government to ease its stands on democracy and human rights. He remains imprisoned.

 Pelosi has long been active in promoting human rights in China and Tibet. She had visited China last May and sought the release of Liu Xiaobo and others.

Next week, though, it's back to Congress. The Senate is expected to consider the tax cut bill, which extends all Bush-era cuts for two years, first, and the House of Representatives is expected to take it up early next week.