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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, Nov. 18 (Xinhua) -- China's police departments should further standardize the procedure of law enforcement and build harmonious relations with the people, China's top police official said on Tuesday.     State Councilor Meng Jianzhu, also Minister of Public Security, said at a tele-conference with local public security heads that the police should "be fully aware of the challenge brought by the global financial crisis and try their best to maintain social stability."     Meng urged the police to further improve the way of law enforcement, using "a harmonious thinking to ease conflicts and a harmonious attitude to treat the people".     "You should let the people know the authority and dignity of the law, and meanwhile make them feel the care and warmth from the public security authorities," he said.     Earlier this month, Meng published an article in the journal of the Communist Party of China, Qiushi, or Seeking Truth, underscoring "the appropriate use of police force".     "In handling mass incidents, we must be clear that the chief tasks of the public security authorities are to maintain order on the scene, ease conflicts, avoid excessive steps and prevent the situation getting out of control," he wrote.     And the local officials must exercise caution in using police forces, weapons and coercive force, Meng said. "Incidents of bloodshed, injury and death should absolutely be avoided."     A violent protest, involving 30,000 people, broke out on June 28 in Weng'an County of southwest China's Guizhou Province. The protesters rampaged through government buildings and torched more than 160 offices and about 40 vehicles. More than 150 police and protesters were injured, most slightly, and no deaths were reported.     Provincial Party Chief Shi Zongyuan later blamed some local officials' "rude and roughshod solutions" to solve disputes over mines, the demolition of homes for public projects, the relocation of residents for reservoir construction and other issues.     "Some officials neglected their duties, but resorted to police force when any dispute happened, which led to strained relations between officials and the people, and police and the public," Shi said.

BEIJING, Nov. 8 (Xinhua) -- China's first non-governmental community foundation, the Arcadia Public Welfare Foundation, was launched at the Great Hall of the People in Beijing on Saturday.     The foundation was established with 100 million yuan (about 14.65 million U.S. dollars) donated by Shenzhen Airtown (Eastern) Industrial Co. Ltd. and Shenzhen Arcadia Real Estate Group.     "In the past, it was largely the government that took care of China's communities, but now social groups are playing a vigorous part," said Wang Jinhua, an official in charge of community construction of the Ministry of Civil Affairs.     Arcadia, a residential community built on landfill in Shenzhen, the city that was China's window of reform and opening-up, has received domestic and overseas habitat awards since 2005.     Li Aijun, board chairman of the Shenzhen Arcadia Real Estate Group, said the foundation planned to provide financial aid for community welfare projects, such as senior citizens' housing, schools, recreation facilities and environmental protection teams.     The first project will help a local hospital improve community health care and provide free exams.

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LIMA, Nov. 23 (Xinhua) -- Chinese President Hu Jintao said Sunday that China and Russia should strengthen strategic coordination at a time when the global political and economic structures are undergoing the most profound changes since the end of the Cold War.     Hu made the remarks at a meeting with his Russian counterpart Dmitry Medvedev on the sidelines of the 16th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima, Peru.     China and Russia should make concerted efforts to overcome the impact of the ongoing global financial crisis, maintain the sound momentum of their economic growth, and push ahead with reforms of the international financial system, the Chinese president said. Chinese President Hu Jintao (R) shakes hands with Russian President Dmitry Medvedev during their meeting in Lima, capital of Peru, Nov. 23, 2008.    Hu also called for efforts to earnestly carry out the outline on implementing the Sino-Russian Good-Neighborly Treaty of Friendship and Cooperation.     The two nations should enhance consultation on strategic security, and conduct timely exchanges of views on major international and regional issues and coordinate their positions, Hu said.     On issues related to their core interests, China and Russia should continue to strengthen mutual support and coordination, he added.     Efforts should also be made to combine the development of the Sino-Russian strategic cooperative partnership with market-oriented policies, so as to further promote their pragmatic cooperation in various fields, he said.     As for the Six-Party Talks on the nuclear issue on the Korean Peninsula, Hu urged relevant parties to continue to strengthen coordination and cooperation, push forward the talks and strive for the gradual establishment of a mechanism for peace and security in Northeast Asia.     He expressed China's support for Russia's role as an initiator in the establishment of the mechanism, adding that the two countries should also enhance coordination in promoting regional economic cooperation.     Medvedev said the two countries should strengthen strategic consultation on issues relating to peace and security across the world and in the Asia-Pacific region.     Russia is willing to strengthen consultation and cooperation with China in jointly coping with the global financial crisis, the Russian president said.     The financial departments of the two countries could hold a meeting at an appropriate time to discuss how to implement the results of the financial summit of the G20 held a week ago in Washington and those of the APEC Economic Leaders' Meeting, he said.     On the Six-Party Talks, the Russian president said relevant parties should properly handle their differences and make efforts to push forward the talks and promote peace and security in Northeast Asia.

LANZHOU, Nov.18 (Xinhua) -- Authorities in northwest China's Gansu Province have put the violent protest under control after a group of petitioners attacked local government buildings on Monday night, said a provincial government official.     The protesters have left the government building and the social order has resumed normal in Longnan City, where the unrest erupted, on Tuesday night.     More than 30 residents in Dongjiang Town, Wudu District, who faced resettlement, gathered at the city's government around 9:30 a.m. on Monday, asking the authorities for proper solutions concerning their farmland, housing and livelihoods.     The unrest resulted from a planned relocation of the city's government which would force the residents to be resettled.     The protesters talked with some officials on Monday but they failed to reach any agreement. On Monday night, more people joined them and some of the protesters attacked government buildings, damaged vehicles and facilities, and injured some policemen who tried to maintain order, according to a report of the provincial government.     The government's relocation plan has not been approved by the central government yet, the report said.

MADRID, Jan. 30 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Friday for an official visit aimed at further bolstering bilateral political ties and cultural exchanges between China and Spain.     Upon his arrival, Wen said in a written statement that China and Spain enjoy a time-honored friendship, and bilateral cooperation in various fields has been expanding steadily. Chinese Premier Wen Jiabao (R, front) is greeted by Spanish Foreign Minister Miguel Angel Moratinos upon his arrival at an airport of Madrid, capital of Spain, Jan. 30, 2009. Wen Jiabao arrived Friday in the Spanish capital for an official visit.With mutual understanding and friendship between the two peoples constantly growing, the foundation of the China-Spain comprehensive strategic partnership has been consolidated continuously, said the Chinese premier.     Wen said he was pleased with the smooth growth of the bilateral ties between the two nations and had full confidence in the prospect of China-Spain relations.     China highly values its relations with Spain and recognizes its important role in European and international affairs, he said.     Wen added that he hoped to exchange views with the Spanish leaders on bilateral ties and global issues of common concerns.     China is ready to work with Spain to boost the China-Spain comprehensive strategic partnership to a new high, Wen said.     Spain is the fourth leg of Wen's week-long European tour, which began on Tuesday and has already taken him to Switzerland, Germany and the European Union headquarters in Brussels.     Wen also attended the annual meeting of the World Economic Forum during his stay in Switzerland.     On Saturday, Wen will fly to Britain, the last leg of his trip, which is characterized by the Chinese Foreign Ministry as "a journey of confidence."

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BEIJING, Oct. 16 (Xinhua) -- China on Thursday extended sympathy over a Japanese consumer's sickness caused by eating China-made frozen green beans.     "We hope she will recover soon," Foreign Ministry spokesman Qin Gang told a regular press conference when asked to comment on this case.     The Chinese government valued product quality and food safety, and attached great importance to this case, he noted.     According to Japanese media, a woman fell ill after eating the beans produced by a company in Yantai, a coastal city of east China's Shandong Province. The woman experienced numbness in her mouth after eating the beans on Sunday.     Japanese health authorities reportedly said they had detected 6,900 parts per million of organophosphate pesticide dichlorvos in the beans, or 34,500 times the maximum level the government allows for imports. No dichlorvos were found in other packaged beans.     Informed of this case, China immediately contacted with the Japanese embassy to China to size up situation, China's quality inspection authorities immediately went to Yantai to conduct investigation in the company, and local governments also set up a special group to assist the investigation, according to Qin.     Now the investigation is well under way, he noted.     According to the current result of the tests, the company's production facilities were normal, all production records were in order, and no hidden trouble was found in quality or safety, Qin said.     The management of the company conformed to the standards, he noted.     Moreover, this batch of products exported to Japan had passed tests before exportation and no pesticide residue, such as the dichlorvos or methamidophos, was detected.     Qin said the Chinese quality inspection department Wednesday once again tested the retention samples of the exported beans and found no pesticide residues.     He said the Chinese side has reported the initial investigation results to the Japanese side and made arrangement for the officials with the Japanese embassy to visit Yantai on Thursday tofind out relevant situation.     Qin also disclosed some information provided by the Japanese side which said relevant Japanese organization only found residue of dichlorvos in one bag of beans but found no such pesticide residues in other products of the same batch.     He said he has noted that the Japanese police and media recently both believed there is little possibility that the beans were polluted during the producing process, and that the case might not be a food safety incident but a man-made poisoning case.     The Japanese police has placed the case on file for investigation, he added.     He stressed that the Chinese government is ready to keep close contacts and cooperation with the Japanese side to find out the truth as soon as possible.

LIMA, Nov. 21 (Xinhua) -- Chinese President Hu Jintao on Friday gave a brief outline of the country's future development to the business community of the Asia-Pacific Economic Cooperation (APEC).     Addressing the APEC Chief Executive Officers (CEO) Summit, Hu said China will continue to follow the Scientific Outlook on Development by putting people first and making development comprehensive, balanced and sustainable.     "We will unswervingly pursue reform, improve the socialist market economy and build systems and institutions that are dynamic, efficient, more open and conducive to scientific development," Hu said.     China will follow a new path of industrialization with Chinese characteristics and transform the mode of economic growth, he said. Chinese President Hu Jintao addresses Peruvian Congress in Lima, capital of Peru, Nov. 20, 2008. Hu said here Thursday that China is willing to make concerted efforts with Latin American countries to establish a comprehensive cooperative partnership of equality, mutual benefit and common development    Instead of relying heavily on higher consumption of resources, China will achieve development by making scientific and technological progress, improving the quality of the workforce and developing innovative management, he added.     Since the beginning of this year, China has taken robust measures to address the complex changes in the international economic environment and the severe challenges of major natural disasters.     "We have strengthened macroeconomic regulation in a timely way," Hu said, adding "The fundamentals of the Chinese economy have not changed."     "The steady and relatively faster economic development in China is in itself a major contribution to upholding international financial stability and promoting world economic development," he emphasized.     Between January and September this year, China's gross domestic product grew by 9.9 percent and the three major demands of investment, consumption and export all grew by over 20 percent.     However, since September, with the spread and development of the financial crisis, difficulties confronting China's economic development have become more and more obvious, Hu said.     The growth rate of China's export has begun to decline and industrial production and corporate profits have been adversely affected to varying degrees, he added.     "In view of this and in order to boost economic development, the Chinese government has strengthened macroeconomic regulation in a timely way and decided to follow a proactive fiscal policy and a moderately easy monetary policy," the president said.     China has lowered the required reserve ratio, cut the deposit and lending rates and eased the corporate tax burdens, he added.     China has recently adopted even stronger measures to generate greater domestic demand, Hu said.     He said the central government has decided to invest an additional 100 billion yuan (14.6 billion U.S. dollars) this year to accelerate projects related to people's livelihood, infrastructure, the eco-environment and post-disaster reconstruction.     This is expected to generate a total of 400 billion yuan (58.4 billion dollars) of investment nationwide, he pointed out, adding between the fourth quarter this year and the end of 2010, investment in these projects alone will reach nearly 4 trillion yuan (584 billion dollars).     Implementation of these measures will give a strong impetus to China's economic development, Hu said.     Hu arrived here on Wednesday for a state visit to Peru and the Economic Leaders' Informal Meeting of APEC scheduled for Nov. 22-23.

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Visiting Chinese State Councilor Dai Bingguo (L) meets with U.S. Secretary of State Condoleezza Rice in Washington, capital of the United States, Dec. 12, 2008.     WASHINGTON, Dec. 12 (Xinhua) -- Visiting Chinese State Councilor Dai Bingguo met here with U.S. Secretary of State Condoleezza Rice and National Security Advisor Stephen Hadley on Friday separately to exchange views on bilateral ties as well as international and regional issues of common concern.     During the meetings, Dai recalled the great development that has been achieved in bilateral relationship since China and the United States forged diplomatic ties 30 years ago, especially the stable growth in the past eight years. Visiting Chinese State Councilor Dai Bingguo (L) meets with the United States National Security Advisor Stephen Hadley in Washington, capital of the United States, Dec. 12, 2008.     Dai said that the recent years had witnessed frequent contacts and high-level exchange of visits of the two countries, especially between state leaders, as well as deepening political and economic dialogues, ever-increasing mutual understanding, growing common grounds, expanding bilateral cooperation, and more and more convergence of mutual interests.     All these achievements highlight more than ever the strategic significance and global influence of a sound and stable Sino-U.S. relationship, Dai said.     The state councilor said that the Chinese side was ready to work with the U.S. side to move bilateral relationship of constructive cooperation forward.     For this end, he said, the two sides should continue to treat bilateral relationship from a strategic and long-term perspective, enhance dialogue, coordination and cooperation, and respect and accommodate each other's core interests and major concerns.     Rice said since the establishment of diplomatic ties, relations between the United States and China had kept improving and bilateral cooperation had been increasingly deepened.     The two sides have also had frequent communication and coordination in many areas such as how to cope with the ongoing global financial crisis and prevent the proliferation of weapons of mass destruction, she said, adding that the United States and China have become good cooperative partners.     Rice said the Strategic Dialogue and Strategic Economic Dialogue between the United States and China should be carried on and expanded because the dialogues had increased mutual understanding and common grounds, achieved fruitful results and laid a solid foundation for the growth of bilateral friendly cooperation.     Hadley said that U.S.-China relationship had witnessed great growth in recent years thanks to efforts made by state leaders of the two countries.     He said the two sides should continue to strengthen cooperation in bilateral fields and on international and regional issues in a bid to move bilateral relationship further ahead.     At the invitation of the U.S. government, Dai arrived in New York on Wednesday on a week-long working visit to the United States.     The senior Chinese official is expected to co-chair the sixth Strategic Dialogue between the two countries with U.S. Deputy Secretary of State John Negroponte in Washington on Monday.     The China-U.S. Strategic Dialogue was launched in August 2005 in accordance with the consensus of the two heads of state. The fifth dialogue was held in China in January this year.

BEIJING, Jan. 19 -- Air China Ltd, the nation's largest international carrier, expects to report its first annual loss in at least eight years on waning travel demand and wrong-way bets on fuel prices.     The carrier made paper losses of 6.8 billion yuan (994.5 million U.S. dollars) on fuel-hedging in 2008, it said on Friday in a Hong Kong stock exchange statement. The airline made a 3.88-billion-yuan annual profit in 2007.     Air China joins China Southern Airlines Co and China Eastern Airlines Corp in forecasting a 2008 loss after the nation's cooling economy damped business and leisure travel. The Beijing-based carrier also reported hedging losses after jet-fuel prices tumbled 70 percent in less than six months.     "Air China is more exposed to the global crisis" than China Southern and China Eastern, said Li Jun, an Everbright Securities Co analyst in Shanghai. "As such, most of its advantages turned into disadvantages last year."     The carrier has been profitable since at least 2000, data complied by Bloomberg News showed, helped by having a wider overseas network than domestic rivals.     "The aviation market experienced a general shrinking demand in 2008 and traffic revenue was significantly lower than expected," the Beijing-based company said in the statement. The hedging contracts "will have a considerable effect on the financial results for the year."     The airline is also able to hedge a greater proportion of its fuel needs than rivals, as Chinese carriers are barred from hedging purchases of fuels for domestic flights. That has previously enabled Air China to limit the effect of increasing fuel prices.     The airline's passenger numbers fell 1.7 percent in 2008 to 34.2 million, the first decline in five years. Its cargo and mail volume dropped 3.8 percent to 898,962 tons.     The shares have dived 80 percent in the past year and closed 3.9 percent higher at 1.88 Hong Kong dollars (24 U.S. cents) a share on Friday in Hong Kong trading.