BEIJING, Nov. 15 (Xinhua) -- China should enhance supervision and management of the country's insurance investment, said Li Kemu, vice chairman of the China Insurance Regulatory Commission (CIRC),on Sunday. "With insurance funds were extended into disparate fields, other than bank deposit, demand for a better supervision and risk control enhanced, said Li at the International Finance Forum held in Beijing. By the end of September, 3.4 trillion yuan (497.8 billion U.S. dollars) of insurance funds were invested in bonds, mutual funds, and stocks markets. Bonds investment alone accounted for 50.6 percent of the total. Jiang Dingzhi, China Banking Regulatory Commission (CBRC) Vice Chairman also highlighted the importance of establishing a "all-coverage" financial supervision system. He suggested the country broaden the financial supervision and management system, which would put the mutual funds, hedge funds, and credit risks appraisal agencies under control. The new system requires financial institutions to share information, and also cooperate to fill the supervision blanks between different financial markets, he said.
BEIJING, Nov. 12 (Xinhua) -- The 2010 World Expo to be held in China is a chance both for the country and the world, said Premier Wen Jiabao at an international forum of the Shanghai Expo held here Thursday. The forum, with the theme of "collecting global wisdom, jointly creating cities' future," is of great significance to enriching the meaning of the 2010 World Expo and promoting its success, Wen said. Chinese Premier Wen Jiabao addresses the opening ceremony of the 7th World Expo 2010 Shanghai China Forum in Beijing, capital of China, Nov. 12, 2009. The premier said the Chinese expressed the wish to hold the World Expo in the country more than a century ago, but realized the dream only after the founding of New China and 30 years of rapid progress during the reform and opening-up drive. To be held in the most populous developing nation in the world, the World Expo fully shows its strong vitality, Wen noted. He said China would continue to go all out for the event's preparations. Chinese Premier Wen Jiabao (Back) addresses the opening ceremony of the 7th World Expo 2010 Shanghai China Forum in Beijing, capital of China, Nov. 12, 2009Wen also briefed on China's reaction on the global financial crisis and current economic situation. China has been active and responsible in coping with the global economic recession by earnestly dealing with its own business and comprehensively participating in international cooperation, Wen said. China has always been paying great attention to comprehensive, coordinated and sustainable development and sticking to the expansion of domestic demand, especially consumption, as a foothold during the process of economic stimulus, Wen said. Chinese Premier Wen Jiabao (R) talks with Vicente Loscertales (C), secretary general of the International Expositions Bureau, and Jean-Pierre Lafon, president of the International Expositions Bureau, after the opening ceremony of the 7th World Expo 2010 Shanghai China Forum in Beijing, capital of China, Nov. 12, 2009Facts show China's stimulus package is "timely, strong and effective," Wen said. China will strike an appropriate balance between maintaining economic growth, restructuring the economy and managing the inflation expectations, Wen said. China will continue to implement active fiscal policy and moderately loose monetary policy amid the mounting evidence of consolidated economic recovery, Wen said. Chinese government unveiled a 4-trillion yuan (586 billion U.S. dollars) stimulus package a year ago and industry stimulus and restructuring plans earlier this year for 10 sectors.
PARIS, Oct. 21 (Xinhua) -- French Prime Minister Francois Fillon Tuesday met with visiting Chinese State Councillor Dai Bingguo on bilateral ties at the Matignon Palace in Paris. French President Nicolas Sarkozy and his Chinese counterpart Hu Jintao had reached consensus on the development of the comprehensive strategic partnership between the two nations during their meeting in New York last month, which charted the orientation for further development of their bilateral ties, Fillon said. France would make joint efforts with China to implement the consensus reached by the two leaders, deepen the strategic cooperation and boost cooperation in fields of nuclear power, aviation, environmental protection, new energy and small and medium-sized enterprises, Fillon said. For his part, Dai said China-France relations had developed smoothly on the whole since the two nations forged diplomatic ties45 years ago. China has treasured its ties with France and is ready to work with France to ensure that bilateral ties will further develop on the right direction, he said. He urged the two countries to handle their bilateral ties from a strategic and long-term perspective, work hard to create and maintain a favorable atmosphere and environment for the development of China-France relations, and ensure the steady and sound development of their bilateral ties on the right track, he said. Dai left Beijing last Friday to visit Britain and France at the invitation of the two governments. He arrived in France on Tuesday.
BEIJING, Nov. 28 (Xinhua) -- China has vowed to maintain its macroeconomic policy stance in 2010 despite worries that its stimulus is likely to risk fueling new bubbles and overcapacity. A meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee agreed Friday that the country will continue the proactive fiscal policy and moderately easy monetary policy next year. "It is a must for the country to stick to the pro-growth policy stance," said Zhang Liqun, a researcher with the Development Research Center of the State Council, one of China's top think tanks. "A guarantee to the 8-percent growth target this year does not mean the national economy has been on an independent and stable developing track," Zhang said. Many uncertainties, both at home and abroad, still weighed on China's economy and it was quite necessary for the government to maintain its policy stance, said Feng Fei, a senior researcher at the Development Research Center of the State Council. China's economic growth has approached its pre-crisis level a year after the adoption of the 4-trillion-yuan (585.6 billion U.S. dollars) economic stimulus package. The country's economy grew 8.9 percent year on year in the third quarter this year, accelerating from 7.9 percent in the second quarter and 6.1 percent in the first quarter. In the third quarter last year, it increased 9 percent year on year. However, the country's strategy has raised concern that loose money could inflate prices of stocks and housing, build up unneeded factories and saddle the economy with bad debts. Although the current stimulus package had side effects, it was not the time for retreat, said Zhuang Jian, a senior economist with the Asian Development Bank. The government should be aware of the hidden trauma in economic growth and be ready at all time for popping-up problems by improving the policy flexibility, he said. It was important to enhance the flexibility and focus of macro regulation, considering the inflationary expectations, assets bubble risk and rapidly changing economic situation, Feng said. The Political Bureau vowed to enhance the focus and flexibility of economic policy in the following year according to new situations. It would also further implement and enrich the economic stimulus package to make the economy grow in a more stable, balanced and sustainable way. Bureau members agreed the government would maintain continuity and stability in its macroeconomic policies, according to a statement released after the meeting. The barely-changed wording in the statement of the meeting, convened ahead of the annual Central Economic Work Conference, would set the tone for next year's economic work, said Wang Tongsan, a senior researcher with the Chinese Academy of Social Sciences. He noted that the "five highlights" in the statement would be mid- and long-term strategy for economic and social development in China, which would enable the country to grab the opportunity during the crisis. The country would step up efforts to improve the quality and efficiency of economic growth, to promote the transformation of the economic development pattern and structural adjustments and to promote innovation and reform and opening up to enhance the vigor and momentum of economic growth, the statement said. It also urged more efforts to improve people's livelihood and maintain social stability, and to coordinate the domestic and international situation.
BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama started official talks in Beijing on Tuesday morning to discuss bilateral ties and global issues of mutual concern. The official talks were held at the Great Hall of the People after a close-door meeting between the two presidents. It is their third meeting this year following one in London in April and another in New York in September. Obama is on his first state visit to China on Nov. 15-18 as guest of Hu. He kicked off the visit on Sunday in Shanghai.
BEIJING, Nov. 18 (Xinhua) -- Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, held talks here Wednesday afternoon with Kim Hyong-o, speaker of the National Assembly of the Republic of Korea (ROK). Wu spoke highly of Sino-ROK relations and the positive role that the two legislatures have played in enhancing bilateral relations. China attaches importance to its relationship with the ROK and both countries are of great influence in the region, he said, noting that development of the bilateral relations accord with the fundamental interests of the two peoples and is conducive to the regional peace, stability and development. Wu Bangguo (R), chairman of China's National People's Congress Standing Committee, shakes hands with Speaker of the Republic of Korea (ROK) National Assembly Kim Hyong-o in Beijing, capital of China, Nov. 18, 2009 He suggested the two countries to enhance strategic mutual trust and economic and trade cooperation, and expand cultural and personnel exchanges. He also said the two legislatures should make closer contacts and develop and improve their regular exchange mechanism. Kim highly valued the measures that China taken to counter the global financial crisis, and its role in international affairs. He said the ROK attaches great importance to the relations with China, and the ROK legislature will further its relations with China's NPC. Kim is here for the visit Nov. 18-22 at the invitation of Wu.
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BEIJING, Dec. 22 (Xinhua) -- China on Tuesday said the proper handling of sensitive issues was crucial to stronger Sino-French ties, and proposed deeper political trust and wider pragmatic cooperation. "Both countries should properly deal with sensitive issues, enhance political trust, expand pragmatic cooperation in an effort to bring bilateral relationship to a new high," Chinese President Hu Jintao told visiting French Prime Minister Francois Fillon Tuesday afternoon. Chinese President Hu Jintao (R) meets with French Prime Minister Francois Fillon at the Great Hall of the People in Beijing, capital of China, on Dec. 22, 2009Fillon's visit was seen by observers as a symbol of the recovery of bilateral ties that were frozen in 2008 caused by frictions over Tibet and other issues concerning China's core interests. France in April pledged not to support "Tibet independence" in any form. "I've met twice with President Sarkozy on the sidelines of international conferences this year," Hu recalled, referring to the first one in London in April and the other in New York in September. "We've reached important consensus on consolidating and developing China-French relationship and bringing it back to the track of sound and stable growth," Hu said. Chinese President Hu Jintao (R Front) meets with French Prime Minister Francois Fillon (L Front) at the Great Hall of the People in Beijing, capital of China, on Dec. 22, 2009.Fillon, on his first visit to China since taking office in 2007,said bilateral relations was in rapid development after the meetings between the two presidents. Reviewing the past, Hu said the 45-year China-France diplomatic relations had overcome difficulties and moved forward despite vicissitude in international arena. "The establishment of China-France comprehensive strategic partnership in 2004 provided a broad prospect for bilateral relations in the 21st century," Hu said. Fillon echoed Hu's views, saying both countries would have a promising prospect in the cooperation on nuclear energy, trade, science and technology, education and culture. China and France unveiled their biggest nuclear energy joint venture and inked two deals on aviation cooperation during Fillon's three-day visit. Wu Bangguo (R1), chairman of the Standing Committee of the National People's Congress of China, the country's top legislature, meets with French Prime Minister Francois Fillon (L1) in Beijing, capital of China, Dec. 22, 2009.The venture, with a registered capital of about 16.7 billion yuan (2.5 billion U.S. dollars), will annually generate 26 billion kilowatt-hours on-grid energy when completed in 2014. During their hour-long meeting at the Great Hall of the People, Hu and Fillon also exchanged views on international issues. "As permanent members of the United Nations Security Council, China and France share same or similar views on many major international and regional issues, enjoy common interests and assume important responsibilities on international affairs," Hu said. Fillon expected both countries to jointly oppose trade protectionism, weather the impacts of global economic downturn and restructure international financial system. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress of China, the country's top legislature, meets with French Prime Minister Francois Fillon in Beijing, capital of China, Dec. 22, 2009Before their meeting, top Chinese legislator Wu Bangguo also met with Fillon on bilateral relations. As Fillon's entourage included some French legislators, Wu called for more legislative exchanges at different levels in a bid to lay a more solid public foundation for China-France relations. Fillon will fly back home late Tuesday night.
BEIJING, Nov. 17 (Xinhua)-- According to the China-US Joint Statement issued here Tuesday, China and the United States recognize common interests in promoting the peaceful use of outer space and agree to enhance security in outer space. The statement said the two sides believed that China-US cooperation on common global challenges would contribute to a more prosperous and secure world. "China and the U.S. agree to discuss issues of strategic importance through such channels as the China-US Strategic and Economic Dialogues and the military-to-military exchanges," said the statement. It said both leaders reaffirmed their commitment made on June 27, 1998 not to target at each other the strategic nuclear weapons under their respective control. The two sides agreed to handle, through existing channels of consultations and dialogues, military security and maritime issues in keeping with norms of international law and on the basis of respecting each other's jurisdiction and interests, said the statement. The statement was signed during President Obama' s first official visit to China between November 15 and 18.
PORT MORESBY, Papua New Guinea, Nov. 3 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday discussed bilateral relations and other issues of common concern with Papua New Guinean Prime Minister Michael Thomas Somare. Li said Papua New Guinea, as the largest developing country in the South Pacific, has great influence over regional issues. He said China attaches great importance to bilateral ties with the Pacific island nation, which China has always regarded as a reliable friend and partner. In recent years, Li said, the two countries have conducted frequent high-level exchanges, deepened political mutual trust, broadened exchanges and cooperation in an extensive number of sectors. Chinese Vice Premier Li Keqiang (R) shakes hands with Papua New Guinean Prime Minister Michael Thomas Somare in Port Moresby, Papua New Guinea, Oct. 3, 2009. The two countries also have maintained good communication and coordination in multilateral affairs, Li said. China appreciates the Papua New Guinean government's adherence to the one-China policy, Li said. He said China is willing to work with Papua New Guinea to put into practice all of the important agreements reached by leaders from both countries, promote exchanges on various levels and explore the potential for economic and trade cooperation. The vice premier said China has always been supportive of Papua New Guinea's social and economic progress, and would continue to provide assistance to the best of its ability. Somare, on his part, said his government cherishes its cooperative relationship with China and that the past 33 years have witnessed marked development of the relationship. He said, as the country's sixth largest trading partner, China has played an active and significant role in promoting Papua New Guinea's social and economical development. During the talks, Somare reaffirmed his country's continued adherence to the one-China policy. Li said China and Papua New Guinea have economies that are complementary to each other's and there is huge potential for cooperation. Two-way trade totaled 860 million U.S. dollars in 2008. The vice premier said China will continue to encourage more of its enterprises to invest in Papua New Guinea. Both countries, he said, should broaden their areas of cooperation to agriculture, manufacturing and high-tech, apart from energy and resources. Somare said Papua New Guinea would like to strengthen cooperation with China in trade, investment, agriculture, infrastructure, manufacturing, education and healthcare. He also said the preferential loans China has provided to Pacific island nations over the past three years have greatly helped the overall economic and social development of these nations. Li arrived here on Tuesday on an official visit to Papua New Guinea, the last leg of his three-nation tour. Ha has already visited Australia and New Zealand.
BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama issued the China-U.S. Joint Statement here Tuesday, expressing the hope that the multilateral mechanism of the Six Party Talks would convene at an early date. The two presidents reaffirmed in the joint statement the importance of continuing the Six Party Talks process and the denuclearization of the Korean Peninsula. The joint statement said the two sides will work together with other parties concerned to comprehensively achieve the purpose and overall goal of the Six Party Talks through consultations and dialogues. "The Chinese side welcomed the start of high-level contacts between the United States and the DPRK," said the joint statement.