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  BEIJING, Jan. 2 (Xinhua) -- Premier Wen Jiabao has urged Chinese companies to stress innovation to combat the impact of global economic turmoil.     Wen made the remarks as he visited companies, markets, communities and rural areas in China's eastern Shandong Province over the first two days of 2009. He sought to reassure people that the economy would be able to regain steam.     "Try to develop new types of candles to cater to different cultures, which would capture big market share," Wen said during avisit to Qingdao Kingking Group, the world's second-largest candle maker.     During a visit to Haier, the country's largest appliance maker, the premier praised its sales promotion and services in rural areas as a factor stimulating rural consumption, which he said would help ease the impact of the global financial crisis. Chinese Premier Wen Jiabao (C) visits Yatai electric appliances supermarket that sells subsidized household appliances in Jimo City under Qingdao, a coastal city in east China's Shandong Province, Jan. 2, 2009. Wen visited companies, markets, communities and rural areas in Qingdao on Jan. 1-2.     China kicked off a subsidized household appliance program in December 2007 and decided on Wednesday to further expand subsidies for farmers' purchases from Feb. 1 to boost consumption.     "How Haier is dealing with the global crisis tells us there is opportunity amid crisis, and the opportunity lies in innovation, which will not only help shake off the impact of the crisis but also upgrade enterprises," Wen noted.     He said the country would increase subsidies to 15 billion yuan (2.2 billion U.S. dollars) in 2009 from last year's 9 billion yuan. It would increase domestic spending by more than 100 billion yuan.     The policy would remain in force for at least five years, which would increase appliance sales by more than 500 billion yuan, Wen added.     He highlighted the importance of innovation and called for enterprises to design and develop high-quality, low-cost products for rural markets.     Wen also went to a village in Shandong Province to talk with rural families. He reassured villagers that apart from the expanded subsidies, the government also encouraged enterprises to purchase old appliances and allow farmers to trade in older models for new ones as a move to sustain domestic demand.     The premier reiterated "confidence" wherever he went, saying a solid material foundation, stable financial system, abundant cash flow, large domestic markets, appropriate macroeconomic policies and others steps boosted confidence.     Wen said the State Council, or Cabinet, is drawing up two major plans.     One involves 10 programs to expand demand, further detailing and specifying the 10 stimulus measures kicked out last year.     The other includes the readjustment and improvement of 10 pillar industries. Plans for the development of steel industry and automobile industry have been rolled out and others are under way.

SHANGHAI, Nov. 13 (Xinhua) -- China's first local financial tribunal opened on Thursday in the People's Court of Shanghai Pudong New Area.     The tribunal, with three judges, will accept both individual and institutional civil cases, with no limit on claims, said a judicial official.     Lin Xiaojun, vice chief judge of the tribunal, said the global financial crisis has triggered an increase in financial disputes.     Financial innovation and opening-up had also seen a wider variety of cases, including finance product and company stock ownership disputes, said Lin.     Ding Shouxing, president of the People's Court of Shanghai Pudong New Area said the tribunal would also provide legal services for financial institutions, release case analyses for market information, and make proposals to prevent and resolve financial risks.     The tribunal would hire financial experts as assessors, and setup a consultative team to guarantee just, efficient, professional and clean hearings.     The Ministry of Justice has announced no plans to extend the tribunals to the other parts of the country.     Since 2006, the People's Court of Pudong New Area has heard 5,603 financial cases, including those relating to bank loans, credit cards, securities and assurance, involving more than 1.6 billion yuan (242 million U.S. dollars).     The Chinese government approved Pudong New Area, situated in eastern Shanghai, as a trial base for opening-up in 1990. Since then, 530 domestic and foreign financial institutions have been established there.

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BEIJING, Oct. 26 (Xinhua) -- China's economy was on sound track but prospects were complicated by the world economic slowdown, said Zhou Xiaochuan, governor of China's central bank, on Sunday.     In a report Zhou made to the fifth session of the Standing Committee of the 11th National People's Congress (NPC), he said the country's economy was developing as expected, but the world economic slowdown added uncertainties to its prospect.     "Our economy is highly reliant on overseas demand. Slacking exports resulted from the global economic slowdown would have a negative impact on the economy," he said.     He suggested the country need to be cautious in adjusting policies because there are both possibilities of cost-driven price rises and possibilities of continuous price falls in the future.     "Currently, inflation pressure mainly comes from rising cost," he said.     He said in the world, more and more economies began to shift their policies from curbing inflation to boosting economic developments amid a world economic recession. The international commodity price is expected to enter a new round of rise.     According to him, the PBOC will adopt flexible and prudent macro-control policies to strive for the stability of the country's financial sectors and promote sound and rapid economic growth.     Zhou said efforts would go to other specific fields, including establishing financial risk monitoring mechanism, enhancing cooperation among domestic and overseas financial organs, and ensuring liquidity in the banking system.     He also urged strengthening foreign exchange management through enhancing cross-border capital flow management and supervision, in a bid to avoid losses and risk caused by speculation activities.     The central bank would keep a close look over the real estate sector and improve financial services in this sector, he added.     Zhou said that the impact of the world financial crisis on China's economy cannot be underestimated. However, the country's economic situation is sound as a whole, and is capable to effectively resist the external impact.     China's financial sectors have grown stronger after years of development. The profit-earning and risk-resistance abilities have been greatly improved, market liquidity is sufficient, and the financial system is sound and safe, he explained.     The fifth session of the Standing Committee of the 11th National People's Congress (NPC) opened its second plenary meeting Sunday morning. Wu Bangguo, chairman of the Standing Committee of the NPC, attended the meeting.

Wu Bangguo, Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008.     BEIJING, Dec. 15 (Xinhua) -- China's top legislators on Monday approved the Ministry of Finance to expend "a certain amount" of fund in advance before the central budget is reviewed and approved next spring.     The chairman and vice-chairpersons of National People's Congress (NPC) Standing Committee made the decision at their meeting here Monday, said a statement issued after the meeting presided by Wu Bangguo, chairman of the NPC Standing Committee.     The statement did not reveal the exact number of the fund.     "In face of serious challenges from domestic and international market, the government has carefully adjusted the macroeconomic policies," the statement said. "The new moves were proved to be correct and effective."     The central budget is supposed to be discussed at the NPC annual session in next March. Wu Bangguo (C), Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008.     At the meeting, they also discussed the agenda of the six session of the 11th NPC Standing Committee, expected to convene from Dec. 22 to 27.     Under the proposed agenda, lawmakers taking part in the session would review the draft amendments to the law on precautions against earthquake and disaster relief, the patent law, the criminal law and insurance law as well as drafts of the law on social insurance and tort liability law.     The draft law on arbitration of rural land contract conflicts and draft amendment to the law on statistics will be first tabled at the session.     Two international pacts are due to be ratified during the session: the pact on the joint military exercises held by the Shanghai Cooperation Organization members and the one on criminal judicial assistance between China and United Arab Emirates.     The State Council will table four reports, on implementation of the 11th Five-Year Plan, on measures to cope with international financial crisis and maintain a stable healthy economic growth, on measures to stabilize consumer price and on efforts to control water pollution.

LIMA, Nov. 20 (Xinhua) -- China is willing to make concerted efforts with Latin American countries to establish a comprehensive cooperative partnership of equality, mutual benefit and common development, Chinese President Hu Jintao said here Thursday.     China, as the largest developing country in the world, is willing to work with Latin America, an important developing region, to boost mutual cooperation to a higher level, which conforms to the trends of the times and their respective development needs, President Hu said in his address to the Peruvian Congress.     Hu put forward five proposals to boost Sino-Latin American ties.     Firstly, China and Latin American countries should maintain high-level exchanges and contacts, improve bilateral and multilateral political consultation and dialogue systems at various levels, while continuously enhancing mutual political trust.     Secondly, to deepen mutually beneficial cooperation in economy and trade, China and Latin America should optimize trade structure and increase mutual investment, especially in the fields of manufacturing, infrastructure construction, energy, minerals, agriculture and high technology, said Hu.     China is willing to continue providing assistance for the economic and social development of Latin American and Caribbean countries within its ability, Hu said.     Thirdly, China and Latin American countries should enhance communication and coordination on their stances on such global issues as climate change, food security, energy and finance, multilateral trade system and the UN Millennium Development Goals.     Under the current complex international financial and economic situation, China and Latin America should join hands and participate in the framing of international economic, financial and trade rules, so as to help the international economy develop in a fairer and more reasonable direction, the Chinese president said.     Fourthly, Hu said China and Latin America should learn from each other and make progress in the fields of social welfare and development.     Both sides should carry out pragmatic cooperation in poverty reduction, education, social security, medical and health care, environmental protection and disaster relief, he said.     Finally, both sides should take effective measures to deepen and boost cooperation in culture, sports, media and tourism, said Hu.     The Chinese leader arrived in Lima on Wednesday for a state visit to Peru and the APEC Economic Leaders' Meeting scheduled for Nov. 22-23.     During his speech, Hu said that to forge the comprehensive cooperative partnership, both sides should first grasp the theme of common development because development is a basic way to improve people's well-being and promote social development.     He added that both China and Latin America are at a crucial time of development and China is willing to expand pragmatic cooperation with Latin American countries in various fields to boost common development.     The president said that to forge the comprehensive cooperative partnership, both sides also need to pursue the basic principle of equality and mutual benefit.     According to Hu, China will unswervingly follow the path of peaceful development and uphold the opening up strategy of mutual benefit and win-win progress. It maintains that all countries, big or small, rich or poor, strong or weak, should be equal and regards safeguarding and developing the common interests of China and Latin American countries as the starting point and the purpose of bilateral cooperation.     China respects the rights of people in Latin American countries to independently choose their paths of development, treats Latin American countries equally and takes into account their concerns in cooperation in a bid to realize mutual benefit and win-win results.     Hu stressed that innovation and all-round cooperation are also required to build China-Latin America comprehensive cooperative partnership.     He added that China is willing to work with Latin American countries to innovate their cooperation mode, expand their cooperation field, and enrich cooperation content in order to achieve more tangible results and better benefit their peoples.     Hu said that he has agreed with his Peruvian counterpart Alan Garcia to build a strategic partnership between the two countries.     "We have agreed to build a China-Peru strategic partnership and strive to deepen and enrich the mutually-beneficial cooperation between the two countries in all fields," Hu said.     Peru, which is one of the fastest growing economies amongst Latin American nations, is playing an increasingly important role in the world and regional affairs, he said.     Recalling the long history of friendship between the Chinese and Peruvian peoples, Hu said their mutual political trust is ever expanding and cooperation and exchanges in various fields is developing rapidly in an all-around way.     China and Peru have each other's support and have worked closely in dealing with international affairs, Hu said. China has become Peru's second largest trading partner and Peru is one of the major destinations for Chinese investment in Latin America.     Hu had talks with Garcia on Wednesday afternoon on efforts to expand mutually beneficial cooperation and further develop bilateral relations.     "We've come to the agreement that China and Peru, both developing nations, share wide common interests and the same target for development. Strengthening their links is not only in keeping with the fundamental interests of the two countries and their peoples, but also conducive to exchanges and cooperation between the Asian and Latin American regions," Hu said.     "China has always attached strategic importance to promoting cooperation with Latin America," Hu said.     "I made it clear that China hopes to become a trustworthy and all-weather friend, a mutually beneficial cooperative partner of Latin America and make the two a role model for active dialogues between different civilizations when I visited the region in 2004," the president said.     Hu thanked Latin American countries for their aid during the devastating earthquake in southwest China in May and their support for China on Taiwan, Tibet and other issues.     Hailing the rapid expansion of trade between China and the region, Hu noted that their trade reached the threshold of 100 billion U.S. dollars last year, an over ten-fold increase compared to 10 years ago.     In addition, their cultural exchanges continue to grow with an increasing number of events featuring each other's cultures and more tourist arrivals and exchange students, Hu said.     Confucius Institutes have been set up in more and more Latin American nations and many renowned media in the region have set up their branches in Beijing, he said.     The mutual understanding and friendship between the Chinese and Latin American peoples is ever deepening, while the foundations of their ties have further consolidated and China and Latin America are facing more opportunities for the future development of their relations, Hu said.

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BEIJING, Nov. 2 (Xinhua) -- China's economy is in good shape despite the changing economic environment, and it will maintain stable and relatively fast growth, National Bureau of Statistics (NBS) chief Ma Jiantang told Xinhua on Sunday.     "The fundamentals of China's economy remain unchanged despite the changing world economic environment," the new NBS director said. "We should be confident about the country's economic outlook."     The world's fastest economic growth rate, successful commodity price controls, increasing foreign exchange reserves and good employment rates were the factors to support the economic fundamentals, said Ma.     The consumer price index (CPI), the main gauge of inflation, eased to 4.6 percent in September from the same period last year. It hit a 12-year high of 8.7 percent in February.     The country's gross domestic product (GDP) grew by 9.9 percent in the first three quarters, 2.3 percentage points down from the same period last year.     The slowdown was a result of combined effects, including the global financial crisis, the world economic downturn and severe domestic natural disasters, Ma said.     However, he said, "We should be confident about the country's economic outlook." The country had rich resource reserves, great market potential, vigorous enterprises and the government had strong macro-control abilities.     The government had made a series of macro-economic policy adjustments against the changing economic environment, which would guarantee a steady and sound economic development, he said.

LUANDA, Jan. 19 (Xinhua) -- China's eight-measure policy designed to strengthen economic and trade cooperation with Africa has been effectively carried out with remarkable achievements in the past two years, Chinese Minister of Commerce Chen Deming said Monday.     In an exclusive interview with Xinhua, Chen said remarkable achievements have been scored in the two-way economic relations and trade cooperation between China and African since Chinese President Hu Jintao announced the eight-measure African policy at the Beijing Summit of the China-African Cooperation Forum in 2006 in Beijing.     The policy covers China's assistance to Africa, preferential loans and credits, the building of a conference center for the African Union, the canceling of debts, further opening-up of China's markets to Africa, the establishment of trade and economic cooperation zones in Africa, and the training of African professionals.     Since 2007, China has signed bilateral aid accords with 48 African countries and loan agreements with favorable terms with 22African countries, Chen said.     The year 2009 will witness a 200-percent increase in aid accords with African countries in value terms as compared to 2006,the minister said.     Meanwhile, the Chinese government will exempt 168 debts that should be paid by the end of 2005 by 33 African countries, he noted.     To encourage Chinese enterprises to invest in Africa, the Chinese government has established the China-Africa Fund with an initial allocation of 1 billion dollars, Chen said.     By the end of 2008, the China-Africa Fund had invested about 400 million dollars in 20 projects, which brought the total investment in Africa by Chinese enterprises to about 2 billion dollars.     The Chinese side plans to gradually expand the fund to 5 billion dollars, Chen said.     In addition, the construction of economic and trade zones or duty free trade zones in Africa is progressing smoothly, including the Zambia-China Economic and Trade Cooperation Zone, the Guangdong Economic and Trade Cooperation Zone in Nigeria and the Lekky Duty Free Trade Zone in Lagos, Nigeria, the Egypt-Suez Economic and Trade Zone and Ethiopian Orient Industrial Park, the minister said.     The Zambia-China Economic and Trade Cooperation Zone, as China's first trade cooperation zone in Africa, has been initially completed and put into operation, Chen said.     Ten Chinese enterprises with a combined investment of more than700 million dollars have set up plants in the zone located in the Zambian capital of Lusaka, offering some 3,500 jobs for local people, he noted.     Zambian President Rupiah Banda spoke highly of the establishment of the Zambia-China Economic and Trade Zone, as well as China's eight-measure economic policy on Africa. Like the Tanzania-Zambia Railway, the Zambian president said, the zone is a key measure symbolizing the Sino-African friendship in a new era.     To expand imports from the most underdeveloped African countries, China has exempted import tariffs from 31 African countries on farm products, stone materials, minerals, leather and hide, textiles, clothing, electric appliances and machinery and equipment, Chen said.     The African countries have gained a total of 680 million dollars in tariff exemptions during the period from 2006 to October 2008.     China has also cooperated in training African scientists and technical personnel in sectors including agriculture, medical care, social development and education.     Since 2007, China has offered training programs for 10,916 people from 49 African countries. By the end of 2009 China will send 100 advanced-level agrotechnicians to 35 African countries, Chen said.     China plans to establish 14 agricultural technology demonstration centers, all of which will begin construction by the end of this year.     Meanwhile, about half of the hospitals that China pledged to help build in Africa have already finished construction bidding, Chen noted.     The construction of the African Union Conference Center, also a Chinese aid project, began last December and is scheduled to be completed in 2011, he said.     Chen was scheduled to leave Angola for China on Monday, wrapping up a three-nation African trip that also took him to Kenya and Zambia.

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BEIJING, Nov. 19 (Xinhua) -- Chinese shares staged a broad-based rebound on Wednesday, making up the previous day's losses after an overnight rally on Wall Street.     The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent. The Shenzhen Component Index rose 6.14 percent to 6,679 points.     Combined turnover shrank to 120.81 billion yuan (17.26 billion U.S. dollars) from the previous day's 145 billion yuan.     Gains outnumbered losses by 865 to eight in Shanghai and 743 to two in Shenzhen. Almost all sectors rose, with more than 200 stocks up by the daily limit of 10 percent. An investor looks at the electronic board in a stock exchange in Shanghai, east China, Nov. 19, 2008. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent    The Shanghai index fell more than 6 percent on Tuesday over fears of a spreading global slowdown, exacerbated by profit-taking.     Shares rebounded sharply in the afternoon on Wednesday as investors bought up energy and bank stocks, which had fallen heavily on Tuesday.     Oil, telecom and banking sectors led the rise. Sinopec rose by 10 percent to 8.37 yuan. PetroChina was up 7.49 percent, closing at 11.91 yuan. China Citic Bank gained 6.51 percent to 4.42 yuan.     Telecom shares surged on reports of an imminent approval of 3G licenses. China United Telecommunications rose 10 percent to 6.03 yuan.     A Guangfa Securities note said the rebound showed investor confidence had risen after Tuesday's decline. The sharp rises of energy and banking stocks showed institutional investors were optimistic over market prospects. 

BEIJING, Jan. 6 (Xinhua) -- Chinese Vice President Xi Jinping urged officials with the Communist Party of China (CPC) to play more important roles when dealing with the international financial crisis.     Xi, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remark during a conference Tuesday.     Xi asked officials to make public promises that they would better implement their duties to Party members and non-party people.     The official also urged Party officials to carry out the central government's policies designed to keep steady economic growth and improve the people's lives using practical measures.