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WASHINGTON, Nov. 16 (Xinhua) -- Chinese President Hu Jintao and Australian Prime Minister Kevin Rudd on Sunday pledged joint efforts to expand bilateral cooperation at their meeting here.     The two leaders met on the sidelines of the Group of 20 (G20) summit on financial markets and the world economy.     Hu said China and Australia are witnessing healthy and rapid development of bilateral ties, with ever deepening mutual understanding and trust. Marked achievements have been secured in the mutually beneficial cooperation in trade, energy, environmental protection, technology, education, culture, law enforcement and tourism, he said. Chinese President Hu Jintao (R) shakes hands with Australian Prime Minister Kevin Rudd during their meeting in Washington Nov. 16, 2008Bilateral trade is growing rapidly and negotiations on a free trade agreement are making steady progress, the Chinese president said.     Hu said both sides are maintaining coordination on major global issues like climate change and the current financial crisis, and have seen increasing consensus and cooperation.     He pointed out that China and Australia face unprecedented opportunities for deepening all-round bilateral cooperation in the face of many global challenges to the international community.     China is ready to work with Australia to keep high-level contacts, enhance exchanges and dialogue and deepen mutual trust and cooperation on the basis of mutual respect, equality and mutual benefit, Hu said.     Rudd said Australia hopes to elevate bilateral relations to the level of a strategic partnership.     Australia is willing to open its doors to Chinese investment in the energy and raw material sectors and expects China to provide more opportunities for Australian products and services to enter the Chinese market, he said.     Australia hopes to enhance high-level political dialogue with China in international organizations and international affairs, and strengthen bilateral and multilateral consultations and cooperation, Rudd said.     The Chinese president described the G20 summit in Washington asa success and urged all sides involved to make joint efforts to implement the agreements reached at the meeting.     He also called for strong measures to stop the financial crisis from spreading further and to restore confidence and market stability.     All sides involved should adjust their macroeconomic policy and make full use of monetary and fiscal measures to promote growth and avoid a global recession, he said.     There is a need to steadily push forward reforms of the international financial system to make it conducive to the stability of financial markets and economic growth, he said.     China has adopted a series of measures to promote growth and boost domestic demand, Hu said, adding that these measures, while promoting China's economic growth, will also help stabilize the world economy.     Hu also said the measures will provide new opportunities for Australian businesses and called on both sides to seize the opportunities to promote bilateral trade and economic ties.     Rudd praised China's contributions to the positive outcome of the G20 summit and said China's recently-announced economic stimulus package is good news for both the Chinese and the world economy.     He said China's policies during the Asian financial crisis in 1997 contributed to the economic recovery and growth of the region, and Australia sees favorably China's similar actions this time.     Rudd expressed confidence that the current difficulties in the world economy will be overcome, and he said Australia hopes both sides will strengthen cooperation to jointly contribute to global economic growth.     The United States is the first leg of President Hu's five-nation tour, which will also take him to Costa Rica, Cuba, Peru and Greece.     During his stay in Peru, he will attend the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima. 

BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30.     The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent.     This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year.     The growth rate was 2.3 percentage points lower than the same period of last year, and half a percentage point lower than the first half.     "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang.     The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say.     Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices.     China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted.     Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption.     "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added.     However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important.     Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market.     China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months.     Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown.     The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.

BEIJING, Dec. 27 (Xinhua) -- "Our confidence to face the global financial crisis should rely on science, knowledge and talented people," Chinese Premier Wen Jiabao said Saturday.     He made the remark during a visit to Beijing-based Zhongguancun Science Park, known as China's Silicon Valley.     "I'm here to consult you on how to let science and technology play a good role for us to not only handle the current difficulties but lay a foundation for long-run development," said the premier. Chinese Premier Wen Jiabao takes group photos with UFIDA Software staff during his visit to Beijing-based Zhongguancun Science Park, known as China's Silicon Valley, Dec. 27, 2008.     Wen visited a number of high-tech companies and met with scientists and officials, in the company of Beijing's Communist Party chief Liu Qi and Beijing Mayor Guo Jinlong.     The government has launched a series of measures to deal with the current global financial crisis. They gave greater importance to the power of knowledge, science and technology which have far-reaching effects, Wen said.     "In front of the crisis, everybody should stand up and be brave to take his responsibility," Wen emphasized.     He urged scientists to help domestic enterprises resolve difficulties, improve management, develop new products and create new technology.     The science park is celebrating the 20th anniversary of its founding this year.

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Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, has a photo taken with the performers after watching the gala, which was held in Beijing on Thursday night to mark the 30th anniversary of China's reform and opening-up.    BEIJING, Dec. 18 (Xinhua) -- A gala was held here on Thursday night to mark the 30th anniversary of China's reform and opening-up by presenting the songs popular through the past three decades in the country.     Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, watched the performances with the audience.     A group of renowned singers sang the songs while poems were recited to remind people of landmark events and achievements in the past three decades.     The audience responded with thundering applause.

BRUSSELS, Jan. 29 (Xinhua) -- Chinese Premier Wen Jiabao arrived in Brussels on Thursday evening for an official visit to the European Union (EU) headquarters.     The premier was welcomed at the Brussels international airport by European Commission officials, Belgian Foreign Ministry officials, officials of the Chinese mission to the EU and the Chinese embassy in Belgium, as well as Chinese students studying in Belgium.     In a written statement distributed to the press upon his arrival, Wen said the world is undergoing profound changes with a volatile international situation, more regional conflicts and a spreading financial crisis.     In this context, to enhance dialogue, promote consultations and deepen cooperation is in the interests of both China and the EU, and in line with the trend of the times, which is for peace, stability and development, he said.     Wen said he is looking forward to having frank and in-depth exchange of views with EU leaders on China-EU relations, on how to jointly deal with the global financial crisis, and on other international and regional issues of common concern.     "I hope and believe that this visit, as an important trip of confidence, will enhance the confidence of China and the EU in their future relations and in practical and mutually beneficial cooperation. I also hope and believe that this visit will enhance the confidence of the international community in the all-round strategic partnership between China and the EU," he said.     During his two-day visit in Brussels, Wen is scheduled to hold talks with European Commission President Jose Manuel Barroso. He will also meet EU foreign and security policy chief Javier Solana.     Brussels is the third leg of Wen's European tour after Switzerland, where he attended the annual meeting of the World Economic Forum in Davos, and Germany. The trip will also take him to Spain and Britain.

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. 

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nderstanding.     China has long been an ASEM advocator. Chinese premiers have attended all ASEM summits since 1996 and proposed to build up a new-type of Asia-Europe partnership.

LIBREVILLE, Nov. 7 (Xinhua) -- Visiting Chinese top legislator Wu Bangguo held talks here on Friday with President of Gabonese National Assembly Guy Nzouba Ndama, saying that the National People's Congress (NPC) of China is ready to step up cooperation with the parliament of Gabon to add new vigor into bilateral relations and jointly push forward friendly relations between the two countries.     Wu, chairman of the Standing Committee of the NPC, China's top legislature, called Gabon a true friend of China, saying that China is satisfied with the growth momentum of the bilateral relations and the two countries have seen healthy and stable development of friendly and cooperative relations since they established diplomatic ties 34 years ago.     Wu said that the two sides have achieved remarkable results in cooperation between governments, parliaments and various political parties in fields such as economy and trade, culture and education as well as public health. Speaker of Gabon's Senate Rene Radembino Coniquet (R) shakes hands with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress, the country's top legislature, during their meeting in Libreville, capital of Gabon, Nov. 7, 2008.    "We have established our close consultation and cooperation on international affairs, and more importantly, we have made breakthroughs on working together on some big-scale projects," Wu said.     "It's the treasure to both sides and China will make joint efforts with Gabon to step up cooperation in all dimensions," he added.     Wu said that the NPC represents the will of Chinese people and shoulders very important responsibility to promote the friendship between Chinese and Gabonese.     He called on the two countries' parliaments to boost their exchange and cooperation, especially between the parliamentary ad hoc committees and various friendship groups.     Echoing Wu's views on the bilateral relations and inter-parliamentary cooperation, Ndama said that the frequent mutual visits between the two countries' leaders have pushed forward the bilateral ties into a new stage of development, which he said already brought substantial benefits to the Gabonese people.     He suggested that the two nations should work closer to expand their cooperation on culture, education, aviation and tourism, reiterating that Gabon would continue to adhere to the one-China policy and support China's peaceful reunification.     Ndama also said that the relations between the two parliaments have showcased the Gabon-China friendly ties and the Gabonese National Assembly hoped to maintain the frequent exchanges to expand mutual understanding and consolidate substantial cooperation in various fields.     The Chinese top legislator also met with Rene Radembino Coniquet, speaker of the Gabonese Senate, on the same day. The two sides voiced commitment to boost the bilateral relations and enhance their cooperation to a higher level.     "The facts have already proved that the growth of the China-Gabon relations not only benefits the two countries and their people, but also helps to promote the peace and development of the world," Wu told Coniquet.     Wu arrived here on Thursday afternoon for a two-day official visit to Gabon. He will fly to Ethiopia on Saturday to continue his five-African nations tour, which also includes Algeria, Madagascar and Seychelles.

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BEIJING, Dec. 17 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday called for a healthy development of the country's real estate market at an executive meeting of the State Council, or the Cabinet.     A document released after the meeting said the recently-adopted domestic demand expansion and economic stimulus policies had positive impact on the property market. Trading volumes in some cities were picking up.     At present, efforts should be made to keep market-oriented in developing real estate, step up building of houses for low-income families, encourage housing transactions and maintain a reasonable scale of real estate development.     The document said governments would spend three years to build houses for 7.5 million low-income families in urban areas and 2.4 million households in shanty towns in forests, reclamation areas and coal mines. They would also continue renovating aged buildings in rural areas.     The central government would keep financing these building and renovating projects, offer higher subsidies for the less developed central and western regions and carry out pilot projects in some area to test the feasibility of supporting construction with idle funds in local housing provident fund accounts.     In a bid to encourage transaction, second-home buyers, with per-capita room-at-home lower than the local average, would be allowed to enjoy favorable policies for first-time house buyers.     Tax on house transactions would also be reduced next year. Homeowners who had lived-in for more than two years would be exempted from a transaction tax, which had been levied on houses lived in for less than five years. For those who had lived-in for less than two years, the base of tax would be transaction price minus the original price.     Banks should lend to developers of low-price apartments, especially those under construction, and offer services for mergers by credible developers.     The central government demanded local authorities keep a close eye on the real estate market, find new problems in time and step up supervision on use of subsidies and quality of construction projects.

BEIJING, Nov. 26 (Xinhua) -- China's State Council, or the Cabinet, said on Wednesday that more efforts would be made to encourage enterprises to upgrade technology and engage in independent innovation.     It also said there would be policies to promote merger and acquisition among enterprises.     The policies were clinched at an executive meeting of the State Council, presided over by Premier Wen Jiabao. The meeting was held to discuss measures to address difficulties faced by enterprises and promote economic growth and deliberate plans to reform finished oil pricing mechanism and fuel taxes and fees.     According to the meeting, plans would be drawn up to help some key industries, including steel, auto, ship manufacturing, petrochemical, light industry, textile, nonferrous metals, equipment manufacturing and information technology.     The meeting urged banks to increase credit supply to help small and medium enterprises overcome difficulties.     To offset adverse global economic conditions, the State Council on Nov. 9 has announced a 4 trillion yuan (585.7 billion U.S. dollars) stimulus package to boost domestic demand. This will be combined with other boosting measures, such as loosening credit conditions and cutting taxes.     The huge amount of money will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding after several disasters, most notably the May 12 earthquake.     The State Council also discussed the reform plans of finished oil pricing mechanism and fuel tax and fees at the meeting. It decided to make public the two draft reform plans to solicit public advice.     According to the National Development and Reform Commission, the government has been studying a fuel tax to replace the current road tolls imposed upon vehicles.     The long-awaited fuel tax and fee reform was first proposed in 1994.     The State Council meeting also reached decisions to increase the storage of key materials and resources, accelerate development of the service industry and enhance measures to promote employment and social security.     More education and job training would be provided among the government's efforts to increase employment. This education and training should also cover the lay-off workers and rural laborers who returned from cities because of unemployment, according to the meeting.