LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the central government would take effective measures to help Hong Kong to ward off the impact of the global financial crisis, safeguard the stability of financial markets and boost economic growth. Hu made the remarks during a meeting with Donald Tsang, chief executive of the the Hong Kong Special Administrative Region (HKSAR) of China. Hu expressed his belief that as long as the HKSAR government and people from all circles could be united, the region would maintain its long-term prosperity and stability. Donald Tsang briefed the president on his government's efforts in dealing with the current financial crisis and voiced his appreciation for the central government's support to Hong Kong. Chinese President Hu Jintao (2nd R) and his wife Liu Yongqing (1st R) meet with Donald Tsang Yam-kuen (2nd L), chief executive of China's Hong Kong Special Administrative Region, and his wife Selina Tsang in Lima, capital of Peru, Nov. 22, 2008. Hu Jintao and Donald Tsang Yam-kuen are in Lima to attend the Economic Leaders' Informal Meeting of the APEC forum slated for Nov. 22-23. The HKSAR government would continue to make efforts to safeguard the financial and economic stability in the region, the Hong Kong chief said. Hu also said China went through a lot of big events and difficulties this year, in which Hong Kong compatriots always stood together and shared weal and woe with the people on the mainland. Hu spoke highly of the disaster-relief efforts provided by the Hong Kong SAR government and people after the May. 12 earthquake to southwest China's Sichuan Province, saying that they had made contributions to the success of China's quake-relief work. The president said Hong Kong has also successfully completed the task of co-organizing the equestrian competition event of the 2008 Beijing Olympic and Paralympic Games. The central government would always support Hong Kong and Macao SAR in coping with and overcoming various difficulties, President Hu told the Hong Kong chief. Both Hu and Tsang are in the Peruvian capital of Lima to attend the 16th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC).
WASHINGTON, Nov. 15 (Xinhua) -- Chinese President Hu Jintao on Saturday called on the international community to make concerted efforts to tide over difficulties arising from the global financial crisis. Hu made the appeal while addressing a summit meeting of the Group of Twenty (G20) on financial markets and the world economy in Washington. RESTORE MARKET CONFIDENCE President Hu urged the international community to take all necessary steps to promptly restore market confidence and stop the spread and development of the financial crisis. "The international financial crisis has now spread from some parts of the world to the entire globe, from developed countries to emerging markets, and from the financial sector to the real economy," said Hu, who arrived here Friday for the G20 summit. "To effectively deal with the financial crisis, all countries should strengthen confidence and intensify coordination and cooperation," he stressed. To deal with the crisis, Hu said major developed countries "should undertake their due responsibilities and obligations, implement macroeconomic policies that are conducive to economic and financial stability and growth both at home and internationally, take active steps to stabilize their own and the international financial markets and safeguard investors' interests." "Meanwhile, we should all enhance macroeconomic policy coordination, expand economic and financial information sharing, and deepen cooperation in international financial regulation so as to create necessary conditions for stability in both domestic and international markets," Hu added. REFORM INTERNATIONAL FINANCIAL SYSTEM Hu urged the international community to earnestly draw lessons from the ongoing financial crisis and, based on full consultations among all stakeholders, undertake necessary reform of the international financial system. "Reform of the international financial system should aim at establishing a new international financial order that is fair, just, inclusive and orderly and fostering an institutional environment conducive to sound global economic development," Hu said. He said the reform should be conducted in a comprehensive, balanced, incremental and result-oriented manner. "A comprehensive reform is one that has a general design and includes measures to improve not only the international financial system, monetary system and financial institutions, but also international financial rules and procedures," he noted. "A balanced reform is one that is based on overall consideration and seeks a balance among the interests of all parties," Hu said. "An incremental reform is one that seeks gradual progress," said the president, adding that it should proceed in a phased manner, starting with the easier issues, and achieve the final objectives of reform through sustained efforts. "A result-oriented reform is one that lays emphasis on practical results. All reform measures should contribute to international financial stability and global economic growth as well as the well being of people in all countries," he stressed. Based on those considerations, Hu listed four priorities in reforming the international financial system -- stepping up international cooperation in financial regulation; advancing reform of international financial institutions; encouraging regional financial cooperation; and improving the international currency system. HELP DEVELOPING COUNTRIES COPE WITH CRISIS President Hu also called for international efforts to help developing countries and the least developed countries cope with the global financial crisis. "When coping with the financial crisis, the international community should pay particular attention to the damage of the crisis on developing countries, especially the least developed countries (LDCs), and do all it can to minimize the damage." It is necessary to help developing countries maintain financial stability and economic growth, sustain and increase assistance to developing countries, and maintain economic and financial stability in developing countries, he said. CHINA TO PLAY CONSTRUCTIVE ROLE Responding to natural disasters and the global financial crisis, China has made timely adjustment to its policies and strengthened macroeconomic regulation, Hu said. "Steady and relatively fast growth in China is in itself an important contribution to international financial stability and world economic growth," he noted. "The Chinese government has adopted measures to boost economic development, including lowering the required reserve ratio, cutting the deposit and lending rates, and easing the corporate tax burdens," Hu told the participants. Meanwhile, as a responsible member of the international community, "China has taken an active part in the international cooperation to deal with the financial crisis and played a positive role in maintaining international financial stability and promoting the development of the world economy," he said. "Stability of the international financial markets and sustained development of the global economy are crucial to the well being of all countries and people," Hu noted. "Let us tide over the difficulties through concerted efforts and contribute our share to maintaining international financial stability and promoting global economic growth," he concluded.
BEIJING, Oct. 22 (Xinhua) - Chinese Premier Wen Jiabao and visiting Danish Prime Minister Anders Fogh Rasmussen on Wednesday agreed to establish comprehensive strategic partnership between the two nations. Wen told Rasmussen during their talks that both sides shared strong desire to lift the level of the bilateral mutually-beneficial cooperation, since the Sino-Danish relations had become more mature after experiencing 58 years' development. Denmark was one of the first western nations to recognize the People's Republic of China, and the two peoples enjoyed profound friendship, Wen noted. China applauded Denmark's adherence to one-China policy, and was ready to work with the country to increase mutual trust, expand cooperation in science, technology, environmental protection, energy, innovation, culture and other areas, he said. Chinese Premier Wen Jiabao (3rd L back) and Denish Prime Minister Anders Fogh Rasmussen (2nd L back) attend the signing ceremony between the two countries in Beijing, capital of China, Oct. 22, 2008 The premier hoped that the two nations would improve their capacity of promoting economic growth and resisting risks through the increase of bilateral cooperation. China paid high attention to the 15th Conference of the Parties of the United Nations Framework Convention on Climate Change in Copenhagen next year, Wen said, noting that China would, in line with the principles of common but differentiated responsibilities, make efforts to push forward related international cooperation in this area to achieve positive progress. Rasmussen said Denmark attached great importance to building the comprehensive strategic partnership with China, and hoped to enhance the bilateral cooperation in environment, renewable energy resources, education, research and other fields. Denmark was ready to strengthen cooperation with China to jointly safeguard the stability of the international financial market, the prime minister said. The country would also increase cooperation with China in response to climate change, he noted. The two nations signed documents to enhance bilateral cooperation in climate change, renewable energy resources, science, technology and innovation. The two prime ministers attended the signing ceremony of the agreements. Rasmussen was here for a six-day official visit to China and for the seventh Asia-Europe Meeting scheduled for Oct. 24-25.
LANZHOU, Jan. 18 (Xinhua) -- Chinese Vice Premier Li Keqiang urged the restoration of people's livelihood in the quake-hit regions during his visit in northwestern Gansu Province between Jan. 15 and Jan. 17. Some areas of Gansu were shattered by the devastating May 12 earthquake centered in Wenchuan of neighboring Sichuan Province last year. Chinese Vice Premier Li Keqiang (R) visits poor villager Liao Zhenxiang in Hedong Village of Longnan City, in northwest China's Gansu Province, on Jan. 16, 2009. Li Keqiang, also a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, made an inspection tour in Gansu Province from Jan. 15 through 17. Efforts should be made to ensure that all people in the quake-hit regions had enough food to eat, had clothes to resist the cold and were well housed in the freezing winter, Li said when visiting quake-affected villagers. More support should be given to speed up the building of permanent housing with a precondition that the quality must be guaranteed, he said. "Housing construction can not only help quake-affected people restore life as soon as possible, but is also helpful to boost investment, consumption and economic growth," he said. Villager Zhao Danlin (2nd L, front) displays his relief coupon to Chinese Vice Premier Li Keqiang (L, front) in the Longtou Village of Longnan City, in northwest China's Gansu Province, on Jan. 16, 2009He also called for quicker restoration of public facilities, which would serve the economic and social development in the quake-hit regions. During his visit in Longfeng Village, Li talked with some farmers who had returned because of employment difficulty in cities. There were lots of job opportunities in the country, he said. "You can go to the interior region if it is hard to find a job in the coastal area; you can shift to work in the service sector as job opportunities are limited in the industrial sector; you can also start your own business at your hometown without going outside." Li urged governments and departments concerned to provide more training and guidance to help rural workers get a job and guarantee a stable increase in employment.
Wu Bangguo (C), chairman of the Standing Committee of China's National People's Congress (NPC), holds the First plenary session of the sixth session of the 11th NPC Standing Committee at the Great Hall of the People in Beijing, China, on Dec. 22, 2008. BEIJING, Dec. 22 (Xinhua) -- China announced plans Monday to establish a social security number system for the welfare of its citizens. The draft of the social insurance law was discussed by the Standing Committee of the 11th National People's Congress, the country's top legislature, on Monday. The draft said China would establish a standard social security number system across the nation by using each citizen's current identification card number. The social insurance fund will be categorized into endowment insurance, medical insurance, insurance against injury at work, unemployment insurance and childbirth insurance, the draft said. Currently, China's social insurance fund is managed by the Ministry of Human Resources and Social Security and its branches in provinces, municipalities and autonomous regions. According to the country's labor law, the funding of endowment, medical and unemployment insurance is raised by both individuals and their employers. Workplace injury and childbirth insurance have to be paid by employers. A series of social insurance fund embezzlement scandals have been exposed in China since 1998. More than 16 billion yuan (about2.3 billion U.S. dollars) was embezzled. The new social insurance law's draft said any individual or organization has a right to complain or report illegalities about the social insurance fund. The measure is an endeavor to invite more supervision of the citizen's basic security. The draft also determined that a new type of rural medical system, in which farmers and governments raise funds together, would be included in the medical insurance. Governments will cover medical insurance expenses for citizens who live on low-income subsidies, have serious disabilities or are older than 60 years, the draft said.
TEHRAN, Jan. 14 (Xinhua) -- Iran and China signed a 1.76 billion U.S. dollars deal here on Wednesday for the initial development of Iran's North Azadegan oil field, the official IRNA news agency reported. The deal was signed between China National Petroleum Corporation(CNPC) and the National Iranian Oil Company (NIOC) in the presence of Iranian oil minister Gholam Hossein Nozari and Chinese ambassador Xie Xiaoyan, IRNA said. The North Azadegan oil field which located in Iran's western province of Khuzestan has an estimated reserve of six billion barrels of oil and can produce 75,000 barrels per day for 25 years, Nozari was quoted as saying. Under the deal, CNPC is committed to developing the oil field in two phases, IRNA said. Oil output of the North Azadegan oil field will reach 150,000 barrels per day when both the two phases of the project are finished, Nozari added. According to IRNA, the deal is in the form of buy-back terms, based on which CNPC hands over the operation of the field to NIOC after development and receives payment from oil production for a few years to cover its investment. The period for the development and reimbursement for the first and the second phase of the field would be about 12 and 17 years, Nozari said.
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BEIJING, Jan. 9 (Xinhua) -- Chinese Foreign Minister Yang Jiechi and his Iranian counterpart Manouchehr Mottaki exchanged views over the phone Friday on promoting further development of bilateral relations in 2009 and international and regional issues of common concern. On the situation in the Gaza Strip, Yang said China is seriously concerned and deeply worried about the grave humanitarian crisis caused by the escalation of the Palestinian-Israeli conflict. China has made unremitting efforts to promote adoption by the United Nations Security Council of a relevant resolution on Gaza, Yang said. He said China welcomes and supports U.N. Security Council Resolution 1860 and urges all the parties concerned to fully honor the resolution, cease fire immediately, ensure smooth operation of humanitarian assistance and promote an early relaxation of the humanitarian crisis taking place in Gaza. China has always proposed that the issue of Palestine be resolved through political negotiation on the basis of related U.N. resolutions, the "Land for Peace" principle and the Arab Peace Initiative, he added.
BEIJING, Dec. 12 (Xinhua) -- A Chinese mainland official said on Friday that the mainland is ready to launch a direct postal service across the Taiwan Straits slated for next Monday. The direct postal service would end a situation that has prevailed since 1949, under which air, sea and postal movements between the Chinese mainland and Taiwan have gone through a third place. Wang Yuci, deputy head of the State Post Bureau of China, said Beijing, Shanghai, Guangzhou, Fuzhou, Xiamen, Xi'an, Nanjing and Chengdu in the Chinese mainland, and Taipei, Kaohsiung, Keelung, Kinmen and Matsu of Taiwan were selected as regional distribution centers for the service. Distribution centers would be adjusted or added based on future needs, he noted. New services between post bureaux across the Taiwan Straits including express mail, parcel post, and postal remittances would start from next Monday to meet the needs of people on both sides, he said. Before, only registered mails were allowed to be sent across the Taiwan Straits following an agreement signed by the mainland's Association for Relations Across the Taiwan Straits (ARATS) and the Taiwan-based Straits Exchange Foundation (SEF) in 1993. Parcels, remittances and express mails could only be sent via Hong Kong and Macao. However, the official said the new postal remittance service would be carried out by phases because of technical problems. Residents on the mainland could cash their remittance from Taiwan next Monday, while Taiwan residents had to wait until January or February, he said. In early November, the ARATS and the SEF, authorized by the Chinese mainland and Taiwan respectively to handle cross-Straits issues, signed the agreements on direct postal services during their first summit in Taipei. The two sides also signed agreements on direct shipping and flights, and food safety.
BEIJING, Oct. 18 (Xinhua) -- China Banking Regulatory Commission (CBRC) chairman Liu Mingkang has urged the banking sector to closely watch the impact of the turbulent international financial environment against the domestic financial market and improve capabilities of risk management. Speaking at a recent CBRC meeting focusing on the economic and financial situation in the third quarter, he demanded the country's banking sector learn lessons from the U.S. financial crisis and take measures to raise competitiveness. He outlined several major missions for the country's banking sector: -- implementing macro-economic control policies and making all-out efforts in pushing reform and renovation of the financial system in rural areas. -- continuing to focus on credit risk control and precautions. -- strengthening risk control on overseas investment and actively facing the challenges of turbulence in the international market. -- improving internal management. -- summing up lessons and experience from the global financial crisis and adjusting operating concepts and methods. Liu added the CBRC would enhance its supervision and management on risk and safeguard a stable and healthy development of the country's banking sector
BEIJING, Dec. 18 (Xinhua) -- China held a meeting on Thursday morning to celebrate the 30th anniversary of its reform and opening-up drive, which turned the once poverty-stricken country into one of the world's largest economies. Top leaders, including President Hu Jintao, attended the ceremony, which started at the Great Hall of the People in downtown Beijing at 10:00 a.m. China held a meeting on Thursday morning to celebrate the 30th anniversary of its reform and opening-up drive, which turned the once poverty-stricken country into one of the world's largest economies The celebration also drew nearly 6,000 Chinese from all walks of life. In a speech at the ceremony, Hu said 30 years to the day witnessed the opening of the 3rd Plenary Session of the 11th Communist Party of China (CPC) Central Committee. That meeting ushered in a new historic period of reform and opening-up, marking the most significant turning point in the Party's history since the New China was founded in 1949, he said. By gathering here today to commemorate the 30th anniversary of that meeting, Hu said they are meant to fully recognize the significance and great achievements of the reforms, sum up experience, and continue to develop the country on the path of socialism with Chinese characteristics. Hu said China's gross domestic product (GDP) kept growing at an annual rate of 9.8 per cent for three decades, more than three times the world average. China held a meeting on Thursday morning to celebrate the 30th anniversary of its reform and opening-up drive, which turned the once poverty-stricken country into one of the world's largest economies The President said China's GDP had soared from more than 360 billion yuan (about 52 billion U.S. dollars) in 1978 to 24950 billion yuan in 2007, making China become the world's fourth largest economy. The past 30 years have been a period in which China's overall national strength has risen by a big margin, and the Chinese people have received more tangible benefits than ever before, he said. The country has carried out extensive international exchanges and cooperation, through which China's economy was boosted, he said, adding in the process, China has also made important contribution to the world's economic development. China's economic reforms started 30 years ago after the 10-yearCultural Revolution (1966-1976), which left the country on the verge of economic breakdown. The decision to open up the once-secluded country and reform its moribund economy was made at the 3rd plenary session of the 11th Central Committee of the Communist Party of China, which started on Dec. 18, 1978. The date is commonly regarded as a watershed in China's development.