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BEIJING, Nov. 27 (Xinhua) -- Chinese President Hu Jintao's participation in the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima on Nov.17-26 and his state visits to Costa Rica, Cuba, Peru and Greece are rich in content and fruitful in result, Chinese Foreign Minister Yang Jiechi said here Thursday. As the world financial situation is becoming increasingly grave and China-Latin America, China-Greece relations are entering a new phase of historical development, President Hu's trip is of great significance in enhancing international cooperation to cope with global financial crisis and boosting the further growth of China-Latin America, China-Greece ties.     During his visit, Hu attended more than 70 activities and signed over 30 cooperation agreements with different countries. Hu was received with the highest courtesy and great warmth in all the countries he visited. The visits have also attracted great international and local media attention and been given heavy coverage.      Chinese President Hu Jintao delivers a speech during the Asia-Pacific Economic Cooperation (APEC) CEO summit in Lima, capital of Peru, Nov. 21, 2008. The APEC 2008 CEO Summit kicked off in the Peruvian capital on Friday to address growth, free trade, sustainable development, APEC's relationship with the global economy and other issues    ENHANCE INTERNATIONAL COOPERATION AGAINST FINANCIAL CRISIS     At the meetings, President Hu Jintao stressed the importance for international community to strengthen confidence, cooperation and coordination to tackle jointly the current financial crisis, maintain world financial stability, and promote global economic growth.     Hu proposed a number of measures to solve the current crisis, including strengthening coordination of macro-economic policies, curbing the spread of financial crisis through all necessary fiscal and monetary means to avoid a possible global economic downturn.     He proposed to adhere to the right orientation in establishing a new international financial order that is fair, just, inclusive, and orderly. Necessary reforms should be carried out in international financial system by following the principles of comprehensiveness, balance, step by step and effectiveness to create the system environment for the sound development of the world economy.     He also proposed to change the existing mode of unsustainable economic growth in an effort to solve the deep-seated problems in economic growth of various countries.     Hu also called for support to the developing countries struck by the financial crisis to help keep the momentum of their economic development.          BOOSTING STABLE DEVELOPMENT OF PRAGMATIC COOPERATION AMONG APEC MEMBERS     At the meeting, Hu put forward five-point proposals on dealing with major global issues of common concern.     He urged APEC member economies to build consensus and promote sound development of the multilateral trading regime.     He also urged them to take up responsibilities and jointly tackle climate change.     In addition, APEC member economies should enhance exchanges and cooperation and join forces to combat natural disasters, he said.     Efforts should be made to regulate guidance and strengthen corporate social responsibility, he added.     The Chinese president also stressed the importance for APEC members to take coordinated actions and ensure world food and energy security.     On APEC's future development, Hu said APEC should maintain its nature of a forum for economic cooperation and its approach of conducting cooperation on a non-binding basis.     He said that the APEC members should continue to promote balanced progress in economic and technical cooperation and trade and investment liberalization.     "In particular, we should increase input in economic and technical cooperation to enhance capacity-building in developing members and narrow the development gap."     Hu also presented proposals on tackling climate change, combating natural disasters and boosting the exploration of human resources.     He expressed China's willingness to help finance the network for Asia-Pacific forest restoration and sustained management, and host the APEC Human Resources Development Ministerial Meeting in 2010.     The proposals have drawn widespread welcome and support from the participating members.

BEIJING, Oct. 25 (Xinhua) -- The two-day 7th Asia-Europe Meeting (ASEM) was concluded here Saturday with participants reaching consensus on global financial crisis and other issues.     The meeting, attended by leaders and representatives from 45 Asian and European nations and organizations, realized its expected goal and was a great success, Chinese Premier Wen Jiabao said in a closing speech.     As one of the most fruitful achievements, a statement of the 7th ASEM on the international financial situation was adopted at the meeting. The two-day 7th Asia-Europe Meeting (ASEM) was concluded at the Great Hall of the People in Beijing on Oct. 25, 2008.    "Leaders believed that authorities of all countries should demonstrate vision and resolution and take firm, decisive and effective measures in a responsible and timely manner to rise to the challenge of the financial crisis," said the statement.     The international community should continue to strengthen coordination and cooperation and take effective and available economic and financial measures in a comprehensive way to restore market confidence, stabilize global financial markets and promote global economic growth, it said.     According to the document, leaders supported the convening of an international summit on Nov. 15 in the United States to address the current crisis and principles of reform of the international financial system.     The summit also adopted a declaration on sustainable development.     "The adoption of various cooperation proposals shows and proves again the interior impetus for strengthening dialogue at the ASEM and great potential for extending cooperation," Wen said.     Amid the global financial turmoil, the ASEM has been widely regarded as an opportunity for Asian and European leaders to find a solution.     French President Nicholas Sarkozy called the meeting very "helpful" for Asia and Europe to tackle the global financial crisis and build up common cause.     "We had discussed nearly all of the topics concerned by the two continents including the most difficult issues," he said at a press conference at the end of the meeting.     Premier Wen told the press conference the need of confidence, cooperation and responsibility to find a solution to the global financial meltdown.     "We are glad to see that many countries have made their efforts and achieved some results. But it is not enough as we now see it, and more endeavors are needed," said Wen.     All countries, especially developed ones, should take measures as soon as possible to stabilize the financial market and build public confidence, he said.     Financial innovation could help develop the economy, but financial supervision is even more important for the security of the financial system, he added.     The premier also declared that China would actively attend the Nov.15 financial summit.

BEIJING, Jan. 1 (Xinhua) -- China Dairy Industry Association (CDIA) on Thursday told Xinhua more information on setting up a medical compensation fund for victim babies in the tainted milk powder scandal.     "The scandal caused great harm to infants and the society, so firms involved in the scandal feel very regretful for this. To be responsible for their wrongdoing and rebuild the dairy industry's reputation, these companies offer to shoulder social responsibilities," said the association.     Sanlu, the dairy producer at the center of the tainted milk powder scandal, and other 21 firms blamed in the scandal had decided to set up a compensation fund for the victim infants.     "The money from these companies for this fund has been in place now. The fund will cover the charge on acute disease medical treatment and the one-time cash payment for victims," said the Beijing-based association.     But no specific amount of the fund or compensation for each victim baby was revealed.     "The fund is big enough to cover all the medical care charge for the victim infants and the compensation work is now underway," according to the association.     "After the acute disease medical treatment, if those infants develop related diseases before they are 18 years old, they can also get full reimbursement for their medical expenses from the fund," the CDIA added.     The fund will be entrusted to China Life Insurance Co., Ltd., the country's leading life insurer, to manage. To make it easier for the victim families to get compensation, they can get the medical charge reimbursement through China Life's outlets nationwide.     China's tainted dairy scandal was exposed in September after babies who had milk powder produced by the northern Hebei Province-based Sanlu Group developed kidney stones.     Other leading dairy firms were also involved. The contamination killed six babies and more than 290,000 infants suffered from urinary problems such as kidney stones.

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BEIJING, Nov. 25 (Xinhua) -- An artistic performance was staged in Beijing on Monday night to mark the 110th anniversary of the birth of late Chinese leader Liu Shaoqi.     Li Changchun and Vice President Xi Jinping, who are members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, watched the performance together with more than 2,000 people of various walks of life in the National Center for the Performing Arts.     The performance was composed of five parts to show Liu's dedication and contribution to the cause of the Party and the people in different revolution and construction periods.     Liu was born on Nov. 24, 1898, in Ningxiang County of Hunan Province, central China. He was one of the earliest members of the CPC, joining the Party in 1921, shortly after its founding. In the following years, he served at many important positions in the Party.     Liu was elected vice chairman of the central people's government in September 1949, just before the founding of New China. Later he was elected chairman of the Standing Committee of the National People's Congress. In April 1959, he was elected chairman of the People's Republic of China.     Severely persecuted during the Cultural Revolution (1966-1977), Liu died of illness in Kaifeng of Henan Province on Nov. 12, 1969. An artistic performance was staged in Beijing on Monday night to mark the 110th anniversary of the birth of late Chinese leader Liu Shaoqi.The performance was composed of five parts to show Liu's dedication and contribution to the cause of the Party and the people in different revolution and construction periods.

BEIJING, Nov. 8 (Xinhua) -- Chinese President Hu Jintao and U.S. president-elect Barack Obama Saturday discussed in a telephone conversation relations between China and the United States and major international issues of common concern, including the ongoing global financial crisis.     In the telephone conversation, Hu expressed appreciation to Obama for emphasizing in his election campaign speeches the great importance of China-U.S. relations, and for advocating the strengthening of China-U.S. cooperation in jointly responding to global challenges and in sharing global development opportunities.     Hu pointed out that since the establishment of diplomatic relations between the two countries 30 years ago, bilateral relations have generally kept developing despite setbacks, scoring hard-earned achievements and bringing about tangible interests to both nations.     As the largest developing nation and the largest developed nation, China and the United States share extensive common interests on issues related to world peace and development, and both assume important responsibility in this regard, Hu said.     In the new historical period of time, China is willing to maintain high-level exchange with the United States and also contacts at all levels, continue strategic dialogue with the United States, increase exchange and cooperation between the two countries in all fields, and strengthen the exchange of opinion and coordination with the United States on major international and regional issues, the Chinese president noted.     China and the United States should respect each other and accommodate each other's concerns, and appropriately settle sensitive issues between the two countries, particularly the Taiwan issue, in order to promote the China-U.S. relations of constructive cooperation to a higher level, he said.     Speaking on the same occasion, Obama said that China is a great nation and that China's development and success meet U.S. interests.     On today's international arena, U.S.-China relations are relations of vital importance. The development of U.S.-China relations is not only in the interest of both nations, but also benefits the world, Obama said.     Saying that U.S.-China relations face many development opportunities, Obama expressed the hope that the United States and China will strengthen cooperation, and promote greater development of bilateral relations, to bring benefits to both nations.     The United States hopes to strengthen consultation and coordination with China on security, climate change and regional hotspot issues, to promote settlement of the relevant issues.     Hu pointed out that the current global financial crisis has seriously impacted economic development and people's livelihood in all countries around the world. The international community should increase confidence, strengthen coordination and have close cooperation, in effectively dealing with this global challenge.     A world economic summit will be held in Washington on Nov. 15, and China attaches great importance to it. China is willing to discuss with other participants in the summit how to adopt powerful measures to reestablish market confidence as early as possible, how to prevent the global financial crisis from proliferation and spreading, and how to diminish its impact on real economies, in a bid to avert a possible global economic recession, Hu said.     The global financial crisis has led to the exposure of many deep-hidden drawbacks of the global financial system.     The international community should earnestly sum up the lessons from the global financial crisis and launch necessary reforms of the global financial system, on the basis of sufficient consultation among all interested parties, Hu said.     In particular, efforts should be made to explore in an in-depth way solution of such major questions as how to strengthen international financial supervision and regulation, how to improve the system of international financial organizations and how to improve the international monetary system, the Chinese president said.     Obama said that settlement of the global financial crisis requires close cooperation by governments of all countries, expressing the hope that the United States and China will strengthen cooperation at the world economic summit planned for November 15 in Washington.

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BEIJING, Jan. 25 (Xinhua) -- Many Chinese received a smaller bonus this year because of the global financial crisis and decided to tighten their belts - but they still let their hair down for the traditional Spring Festival.     The freezing weather and slowdown in economic growth did not affect Chinese people's festivities, with supermarkets and shopping malls crowded with shoppers seeking goods for the Spring Festival celebration.     Even dairy products, which have experienced shrinking sales because of the melamine scandal, were selling.     Milk powder products of domestic brands have reappeared on the shelves, a Xinhua reporter found in Wal-Mart at Xuanwumen, Beijing.     "This is the safest period for dairy products as the government has intensified quality supervision and inspection after the scandal," said saleswoman Qiao Xinhong.     Many Chinese people like to buy boxed milk or yogurt for family reunions or as gifts to friends and relatives during the holiday.     Dairy products, however, were only one part of people's shopping list, and snacks with wider varieties, clothes, jewellery and home appliances were also popular.     The week-long Spring Festival holiday, which starts from Sunday, is China's closest equivalent to the West's Christmas shopping season.     According to the Ministry of Commerce, sales at the country's major retailers on Thursday were 2.4 times as much as that on December 31.     China's real retail sales growth in December accelerated 0.8 percentage points from November to 17.4 percent, according to figures released by the National Bureau of Statistics (NBS) Thursday.     Retail sales jumped by 21.6 percent last year to 10.8 trillion yuan (1.6 trillion U.S. dollars), which was 4.8 percentage points higher than 2007.     The booming Chinese market has become more attractive to foreign retail giants, who have suffered from weak demand caused by the global financial crisis.     "Although the global financial crisis has weighed on China's economy, the fundamental of the country's economy remains unchanged and we are very optimistic about the prospects for the Chinese market," Britain's largest retailer Tesco told Xinhua in an email.     Sales in the rural market, which is believed to have the great potential to boost domestic demand, has reported month-on-month increases since May. November retail sales in rural areas rose 18.3 percent, 8.2 percentage points higher compared with the same period of 2007 and for the first time surpassed urban consumption growth.     Wei Wanqian, a farmer in eastern China's Shandong Province, was busy with the last-minute preparations to celebrate the Spring Festival. He bought a new tractor earlier this month.     "Boosting domestic demand should be the government's major taskof economic work," said Zuo Xiaolei, senior analyst at the Beijing-based Galaxy Securities.     "Effective boosting measures along with the improvement of social security system will accelerate the consumption growth by two to three percentage points this year," Zuo said.     The State Council, or the Cabinet, has taken an array of measures to enhance domestic consumption. These included improving the rural distribution network, promoting the subsidized home appliance program and boosting festival consumption.     More detailed measures would come out in March during the delivery of the government work report, sources said.     Although the impacts of global financial crisis were still unfolding, some positive signs surfaced in December economic date, officials and analysts have said. These included the figures on money supply, consumption and industrial output.     Whether the "positive changes" represented a trend was unclear, NBS director Ma Jiantang said.

BEIJING, Jan. 5 (Xinhua) -- Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China's Ministry of Commerce (MOC) warned Monday.     "The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise," said the ministry in a notice. It attributed the phenomenon to the impact of the deepening global financial crisis.     The MOC urged local governments, guilds and overseas Chinese businesses to more closely monitor the credit of foreign importers.     Priority should be placed on tracking the credit ratings of foreign lenders, it said.     The ministry also called on local governments to support the development of export credit insurance and encourage exporters to carry such insurance by reducing premiums.     From January to November last year, China Export & Credit Insurance Corporation (SINOSURE) provided 56.5 billion U.S. dollars of guarantee for exporters against credit risks such as payment default. That is 63.6 percent higher than the same period a year earlier. The reason for the increase is that more exporters sought insurance, company figures show.     SINOSURE is China's only policy insurance company undertaking export credit insurance.     In that period, SINOSURE paid 210 million U.S. dollars of indemnities, up 174.5 percent from the same period of 2007.     In December, the insurer reduced credit ratings for a record 48countries, including the United States. A total of 191 countries were reappraised in December.

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FUZHOU, Nov. 21 (Xinhua) -- Construction on a new nuclear power plant started Friday in southeast China's Fujian Province.     The Fuqing Nuclear Power Plant, located in the coastal city of Fuqing, requires an investment of around 100 billion yuan (14.6 billion U.S. dollars).     It will have six units that generate millions of kilowatts each.     During the first phase of the project, two units will be built and put into operation in 2013 and 2014. They will use advanced second-generation pressurized water reactor technology. The two units are expected to generate more than 14 billion kilowatts of electricity annually, most of which would be consumed within the province. Chinese Vice Premier Li Keqiang (C) shakes hands with project representatives during the inauguration ceremony for the construction of the Fuqing Nuclear Power Plant in southeast China's Fujian Province Nov. 21, 2008    "Nuclear power is a kind of clean, efficient and reliable new energy," said Vice Premier Li Keqiang during the plant's inauguration ceremony. "To develop nuclear power is important for improving the country's energy structure and security."     China National Nuclear Corporation, Fujian company of China Huadian Corporation and the government-funded Fujian Investment & Development Co. Ltd. will jointly build and operate the plant.     The three companies have a stake of 51 percent, 39 percent and 10 percent, respectively, in the new plant.     An unidentified local government official said three billion yuan has already been spent since preparation work for the project started in 2007.Another five billion was planned for 2009.     The project is expected to create more than 10,000 jobs.     Currently, China has 11 nuclear power reactors in operation. All reactors employ second-generation nuclear power technologies.     The country plans to have 40-million-kilowatts of installed capacity in nuclear power by 2020, accounting for four percent of China's energy production.     Right now, installed capacity of nuclear power is only about nine million kilowatts, or about two percent of the total power the country produces.

BEIJING, Dec. 26 (Xinhua) -- China's top political advisor Jia Qinglin said Friday people in the non-public sector of the economy has become a major force in the reform and open-up drive while urging them to make more contribution to growth as the country faces economic hardship.     In a congratulatory letter to a forum held to mark and review the development of private economy in the last 30 years, Jia said the private sector has made important contributions to the country's economic achievements, innovation capabilities, job creation and the "go global" strategy.     The chairman of the Chinese People's Political Consultative Conference National Committee called on people in the private sector to respond to the call of the Communist Party of China and unite as one to face the formidable challenge posed by the global financial crisis.     Privately-owned enterprises should tap the potential of domestic demand while continuing to implement the "go global" strategy and expand international market, Jia said.     Privately-owned enterprises should also assume their social responsibility to create as many jobs as possible while helping the Chinese economy achieve a sound and fast growth, he added.