BEIJING, March 1 (Xinhua) -- Chinese Vice President Xi Jinping urged efforts from the country's Party leaders to improve their political integrity and competence. Xi, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the remarks Sunday at the opening ceremony of the spring session of the Party School of the Central Committee of CPC. Xi, also president of the school, said the Party and the people were the keys to coping with the impact of the global financial crisis, maintaining steady and relatively fast economic growth and safeguarding social stability and harmony. He asked Party leaders to abide by disciplines and identify themselves with the CPC Central Committee both spiritually, politically and in action. He also urged officials to improve their ability in driving forward the country's scientific development. He called on leaders to be more innovative, enhance their ability to find talent and pool them together in the causes of the Party and the country. Officials were also asked to scientifically forecast and take preparatory measures in the face of possible risks. The officials should improve their ability in safeguarding social stability, and be able to settle disputes and conflicts in a timely and appropriate manner, he said. The officials should also be able to get along with the media, and to effectively channel public opinions, said Xi.
DAR ES SALAAM, Feb. 15 (Xinhua) -- Chinese President Hu Jintao on Sunday said he reached new consensus with African leaders during his ongoing visit to the continent. "During my African visit, I had in-depth discussions with leaders of related countries on bilateral relations and issues of common concern, and we reached a number of new and important consensus," Hu said while giving an interview to Tanzanian State Television and Hong Kong-based Phoenix TV. Visiting Chinese President Hu Jintao (L) meets with his Tanzanian counterpart Jakaya Mrisho Kikwete in Dar es Salaam, Tanzania, Feb. 15, 2009This is the president's sixth visit to Africa and his second since the Beijing Summit of the Forum on China-Africa Cooperation in 2006. The four-country African tour has taken Hu to Mali and Senegal. After his stay in Tanzania. Hu will travel on to Mauritius before flying back home on Tuesday. "The visit is aimed at cementing friendship, deepening cooperation, dealing with challenges and seeking common development," Hu said. Visiting Chinese President Hu Jintao (L) meets with his Senegalese counterpart Abdoulaye Wade in Dakar, capital of Senegal, Feb. 13, 2009As a sincere friend of Africa, China will actively support African countries in developing their economies, and improving livelihood and strengthening cooperation, he said. "China will fully and punctually implement measures agreed at the Beijing Summit of the Forum on China-Africa Cooperation, seek China-Africa pragmatic relations and promote the further development of our new strategic partnership," Hu said. Eight measures announced at the landmark summit included massive tariff cuts, debt exemptions, and doubling aid to Africa over a three-year period among others. Chinese President Hu Jintao (L, Front) shakes hands with Malian President Amadou Toumany Toure (R, Front) after signing agreements in Bamako, Mali, on Feb. 12, 2009.Hu said he was satisfied with the development of China-Tanzania ties. Noting Tanzania is an old and good friend of China, Hu said the bilateral relationship has moved forward in a sound and smooth way and yielded fruitful cooperation in various fields since the establishment of bilateral diplomatic ties in 1964. "It can be viewed as an exemplary relationship of sincerity, solidarity and cooperation between the two developing countries," Hu said. In 2008, bilateral trade hit an all-time high, reaching more than 1 billion U.S. dollars, Hu said. He held talks with Tanzanian President Jakaya Mrisho Kikwete and met Zanzibar President Amani Abeid Karume earlier on Sunday. Hu said they reviewed the growth of China-Tanzania relations and set a direction for bilateral relations to develop in a new era. The two sides agreed on cementing traditional friendship, deepening pragmatic cooperation and taking the relations to a new high, Hu said. "With joint efforts, I am convinced that bilateral relations will have a promising future and benefit the two nations," Hu said. Before the interview, Hu attended the completion ceremony of Tanzania's state stadium and paid tribute to a cemetery for Chinese experts who worked and died in Tanzania.
RAYONG, Thailand, April 10 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Friday to attend the East Asia Summit and related meetings in a bid to promote regional cooperation to confront the global financial crisis. The premier's trip is aimed at enhancing mutual trust between China and east Asian countries, promote regional cooperation and boost determination and confidence to jointly tackle the crisis, which has dealt a heavy blow to the Asian economy. Chinese Premier Wen Jiabao (L Front) arrives in Phatthaya, Thailand, April 10, 2009. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Phatthaya of Thailand, including the 12th China-Association of Southeast Asian Nations (ASEAN) Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and China-Japan-South Korea Breakfast Meeting. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Pattaya, Thailand, including the 12th China-the Association of Southeast Asian Nations Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and a China-Japan-South Korea Breakfast Meeting. His entourage includes Foreign Minister Yang Jiechi; Zhang Ping, chairman of the National Development and Reform Commission; Finance Minister Xie Xuren; Commerce Minister Chen Deming; Xie Fuzhan, director of the Research Office of the State Council; Chinese Ambassador to the ASEAN Xue Hanqin; Qiu Xiaoxiong, vice secretary-general of the State Council and director of the premier's office; and Assistant Foreign Minister Hu Zhengyue. Chinese Premier Wen Jiabao (L Front) arrives in Phatthaya, Thailand, April 10, 2009. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Phatthaya of Thailand, including the 12th China-Association of Southeast Asian Nations (ASEAN) Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and China-Japan-South Korea Breakfast Meeting.
BEIJING, Feb. 7 (Xinhua) -- The Communist Party of China (CPC) has called for beefing up efforts to further push forward peaceful development of relations between the mainland and Taiwan. A meeting on Taiwan work, held from Friday through Saturday, pointed out that major breakthrough had been made in development of relations across the Taiwan Straits in 2008. The meeting urged doing solid job to further push forward development of cross-Straits relations and the process of cross-Straits consultations, continuing the progressive method of easy things first, difficult things later; and economic affairs first, political affairs later. It urged consolidating the political bases that the two sides both oppose "Taiwan independence" and adhere to the "1992 Consensus", to maintain the momentum of the improving cross-Straits relations. It urged vigorously beefing up economic exchanges and cooperation, fully realizing direct transport, postal and trade links, striving for normalization of economic relations and working for institutionalizing economic cooperation. It orders taking effective measures to help Taiwan businesses on the mainland to overcome difficulties, implementing a series of policies that benefit Taiwan compatriots, beefing up cooperation in dealing with the international financial crisis. It also urged vigorously pushing forward all-round exchanges, with emphasis on promoting cultural and educational exchanges and involving more Taiwan people in cross-Straits exchanges. Jia Qinglin, member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting and made a speech. Jia, who is also Chairman of the National Committee of the Chinese People's Political Consultative Conference, urged following the guidelines put forward by CPC Central Committee General Secretary Hu Jintao on Taiwan work. The meeting was presided over by State Councilor Dai Bingguo. The Taiwan Work Office of the CPC Central Committee director Wang Yi delivered a work report at the meeting.
BEIJING, Feb. 25 (Xinhua) -- Senior members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) met Wednesday to discuss the agenda of the annual conference in March. Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, presided over the meeting of the Standing Committee of the 11th CPPCC National Committee. The fourth meeting of the Standing Committee of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) is held in Beijing, capital of China, Feb. 25, 2009During the three-day meeting, the senior political advisors will set an agenda for the Second Session of the 11th CPPCC National Committee, discuss and approve a work report of the Standing Committee of the CPPCC National Committee, and study a report on the handling of proposals put forward by CPPCC members at last year's annual meeting. The CPPCC reflects China's "multi-party cooperation system" under the leadership of the CPC. The CPPCC committees at different levels have representatives from different political groups, ethnic groups, and people of all walks of life.
BEIJING, April 5 (Xinhua) -- China will strengthen oversight of listed securities companies by promoting information transparency. On Saturday, China Securities Regulatory Commission (CSRC) introduced a regulation which said securities companies should remind investors about potential risks when shareholders decide to launch a new business or introduce an innovative business. The annual report and half-year report by listed securities companies should include risk assessment conditions, as well as reasons for risk and probable effects. Photo taken on April 1, 2009 shows a woman smiles before a stock price electronic board in Beijing. China's benchmark composite stock index on the Shanghai Stock Exchange closed at 2408 points on Tuesday In addition to the annual operation report, companies were asked to deliver a supervision and monitoring annual report which includes audit and accounting information. If a company or high-rank official is involved with serious illegal activity, and that results in worsening financial condition, the company should inform all shareholders. The CSRC said the regulation, which was made on the basis of the Securities Law, took effect April 3.
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BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy. The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December. The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways. "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month." "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth." The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy. The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence. Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans. Medium and long-term corporate loans made up 32 percent. "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International. The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year. The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating. That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said. Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006. The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year. "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan. But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.
BEIJING, March 21 (Xinhua) -- China's industry and commerce authorities said Friday that the number of businesses established in China rose only 0.78 percent year-on-year in 2008, much slower than an average of 5 percent growth in recent 5 years. As of the end of 2008, the number of businesses totaled 9.71 million, up 0.78 percent, or 74,900, over the same period in 2007,the State Administration For Industry and Commerce (SAIC) said. Private sectors and foreign-funded companies remained stable growth despite the global financial crisis. By the end of 2008, the number of private businesses stood at 6.57 million, up 9 percent, or 543,700. The number of foreign-funded companies rose 7 percent to 434,900 last year, with total investment exceeding 2.32 trillion U.S. dollars, up 10.21 percent year-on-year. The total registered capital of all businesses rose 12.42 percent to 43.48 trillion yuan (6.35 trillion U.S. dollars), the SAIC said. The statistics also showed that more companies had been established in the western and central areas as the country tried to transit more industries to the regions, while the number of companies fell in more-developed eastern region due to the financial crisis.
BEIJING, Feb. 23 (Xinhua) -- The recent visits by Chinese leaders to 15 countries and the European Union (EU) have proved extremely fruitful, promoting China's traditional friendship with them and boosting people's confidence regarding the future amid the ongoing global financial crisis. Chinese President Hu Jintao, Premier Wen Jiabao and Vice President Xi Jinping paid visits to several countries in Asia, Africa, Europe and Latin America during the first month of the Chinese lunar year, which lasts from Jan. 26 to Feb. 24. Visiting Chinese President Hu Jintao addresses a welcoming rally attended by people from various sectors in Dar es Salaam, Tanzania, Feb. 16, 2009 Their tours were warmly welcomed and highly praised by governments and media of the countries visited by the Chinese leaders. Meanwhile, China and the United States carried out their maiden communication after U.S. President Barack Obama took office on Jan. 20, 2009. The talks were constructive and expected to boost bilateral ties and help tackle global challenges. Chinese President Hu carried out state visits to Saudi Arabia, Mali, Senegal, Tanzania and Mauritius from Feb. 10 to 17. Visiting Chinese President Hu Jintao (L) talks with Saudi Arabian King Abdullah bin Abdul-Aziz during their meeting in Riyadh, Saudi Arabia, Feb. 10, 2009During the visits, Hu comprehensively expressed China's views and stances on ways to deal with the financial crisis, emphasizing that the international community should take note of, and make all efforts to reduce, the crisis' impact on developing countries, especially those lowest on the development ladder. He also said China would like to strengthen cooperation and take coordinated action with developing countries and the entire world community to meet current challenges. The president reached a broad consensus with African leaders on the means to further boost bilateral cooperation, steadfastly implement measures to aid Africa made at the Beijing Summit of the Forum on China-Africa Cooperation in November 2006 and deepen the new China-Africa strategic partnership. Hu made a six-fold proposal to develop China-Africa ties under the current situation, saying the Chinese have always cherished their traditional friendship with Africa and regard Africans as all-weather, trustworthy and dependable friends, and would like to be the African people's brothers and partners for ever. The leaders of Mali, Senegal, Tanzania and Mauritius said Africa-China ties are a prime example of friendly cooperation among nations, adding that Africa is willing to promote cooperation with China and boost bilateral ties.
TOKYO, March 29 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), arrived in Tokyo to kick off his official goodwill visit Sunday afternoon. Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, conveyed sincere greeting from the Chinese people to the Japanese people in a written statement delivered at the airport. "China and Japan are important countries in Asia and the world at large. Chinese President Hu Jintao paid a successful visit to Japan last year, during which the leaders of the two countries reached important consensus to fully advance the China-Japan strategic relations of mutual benefits," he said in the statement. "Sino-Japanese relations now stands in a new historic point and faces an important opportunity to go further ahead," he said. "With concerted efforts made by both, I believe the visit can meet the pre-set goal of increasing political mutual trust, deepening mutually beneficial economic cooperation, expanding friendly communication and pushing forward our strategic relations of mutual benefits," he said. Li is the highest-ranking official who visits Japan this year. Soon after his arrival, Li met with Japanese Foreign Minister Hirofumi Nakasone. Li is expected to meet with Japanese Prime Minister Taro Aso Monday. During his stay, he will also meet with leaders of ruling and opposition parties and people from all walks of life. Japan is the third leg of Li's four-nation tour which will also take him to the Republic of Korea. He has already visited Australia and Myanmar.