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BEIJING, May 6 (Xinhua) -- Chinese President Hu Jintao and his U.S. counterpart, Barack Obama, on Wednesday discussed bilateral relations and the A/H1N1 flu epidemic during a telephone conversation. Hu recalled that during their meeting at the Group of 20 summit in London in early April, he and Obama agreed to work together to build a positive, cooperative and comprehensive relationship in the 21st century. The two leaders also reached extensive consensus on the establishment of the mechanism of China-U.S. Strategic and Economic Dialogues, joint efforts to tackle the international financial crisis, and enhanced coordination and cooperation on major global and regional issues, Hu said. "Now, both countries are seriously implementing the consensus," the Chinese president said. "China is willing to work with the United States to push for a healthy and stable development of China-U.S. relations," he said. Obama, for his part, said the meeting with Hu was important because it outlined the future development of bilateral cooperation and made a good start on the China-U.S. strategic dialogue. The United States appreciated China's efforts to promote bilateral relations, he said. The Chinese president expressed sincere condolences over the A/H1N1 flu epidemic that has hit parts of the United States, and said the Chinese government has started emergency measures to prevent a spread of the disease. "We are willing to keep contact with the World Health Organization, the United States and other parties concerned, and strengthen cooperation to jointly confront this public health challenge," Hu said. Obama said his country has adopted effective measures against the disease and will continue to keep a close eye on the outbreak. The U.S. president said he was looking forward to meeting with Hu again during a meeting of leaders of the Group of Eight nations and developing countries in Italy. Obama said he was also looking forward to visiting China. The two leaders also exchanged views on such issues as the situation on the Korean Peninsula and the situation in South Asia.
BEIJING, June 17 (Xinhua) -- Chinese Premier Wen Jiabao said Wednesday China's economy is at a critical moment as it begins to recover "steadily". Wen told an executive meeting of the State Council, China's Cabinet, that economic performance had started to show positive changes, favorable factors were increasing, the overall situation had stabilized and was moving upwards. He said the government should continue a pro-active fiscal policy and moderately relaxed monetary policy. Investment growth kept accelerating, consumption maintained a rapid and steady increase, and domestic demand played a stronger role in boosting economic growth, said Wen. Agricultural and industrial production grew, and regional coordinated development was making progress, said Wen. The financial market was stable, and investor confidence stronger. Urban employment kept rising, and reconstruction of areas affected by last year's May 12 earthquake was speeding up, said Wen. Government measures to fight the global economic crisis proved correct and effective, and should continue to be implemented and improved according to the changing situation, he said. But it should also be noted that the foundation for economic recovery was not stable and many uncertainties remained, said Wen, citing sluggish exports, the fiscal deficit and trade protectionism. Wen called for clear-headed judgment and readiness for difficulties and complexities that might occur in the long term. He urged local governments to further promote economic restructuring, guarantee the stable development of agriculture, encourage technological innovation and work to enhance energy conservation and environmental protection. Comprehensive efforts should be made to boost domestic demand to power economic growth, Wen said, singling out such measures as subsidies for home appliances and automobiles in rural areas. Housing consumption should be properly guided and the stable, healthy development of the property market should be ensured, said Wen, adding that tourism, entertainment and cultural consumption should be developed. Central government-invested programs should be carefully carried out, while private investment should be expanded, said Wen. He also highlighted the importance of the coordinated development of urban and rural areas, called for the further deepening of reform and opening up and the building of social insurance systems.

BEIJING, July 5 (Xinhua) -- The Bank of China (BOC), China's largest foreign exchange bank, will transact the first cross-border yuan trade settlement deal Monday, a source with the bank said Sunday night. The BOC Shanghai branch would receive the first cross-border yuan trade settlement deal from the BOC (Hong Kong) Monday, the unidentified source said. The payee would be Shanghai Electric International Economic and Trading Co., Ltd. under Shanghai Electric Group Co., Ltd. and the remitter would be the company's business partner in Hong Kong. China last week issued detailed measures to regulate the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using Renminbi (RMB) to settle trade with Hong Kong and Macao and regional trade partners. "The service has drawn much attention and many overseas enterprises had been asking us about it months ago. Why? Because cross-border yuan trade settlement could help enterprises avoid exchange rates risks, lock up financial costs and reckon enterprise anticipated profits," the source said. "In comparison to convertible currency settlement, it could streamline links and reduce trade cost. It could help enterprises without foreign exchange revenues cut losses from converting foreign exchanges. It could reduce derivative fees in selecting RMB financial products," said the source. The BOC Shanghai branch has reached tentative agreements with 11 overseas agent banks on yuan trade settlement deals. Now the agent banks in tentative agreements with the BOC mostly are large banks in Asia and they anticipate remarkable demand on yuan settlement, according to the sources. "We are in talks with banks in the United States and Europe and get very positive feedbacks. Despite some obstacles in cross-border yuan settlement, the trend is good," the source said.
BEIJING, July 4 (Xinhua) -- Chinese Vice Premier Li Keqiang Saturday urged efforts to better use geographic information so as to better serve the country's economic and social development. Li made the remarks when attending an exhibition on maps and the achievements of China's geographic information application. The exploration and application of geographic information and mapping since China launched its reform and opening-up policy in 1978 had played an important role in promoting the country's development, he said. It has benefited sectors including urban and rural planning, land resources administration, environmental protection, quake-relief and national defense, according to Li. He urged efforts to build a system of mapping and surveying in an information age and strengthen the capacity of mapping and surveying in providing service for the country's modernization drive. The industry of geographic information should be expanded and meet multi-level and diversified market demands so as to better serve society and the people, he said. Li also urged scientific researchers to embrace innovation in their work so as to produce more high-quality surveying and mapping instruments.
BEIJING, May 5 -- The economy is likely to expand 7 percent in the second quarter - up from the first quarter's 6.1 percent - even as it confronts the painful prospect of shedding industrial overcapacity, a top government think tank said Monday. "Economic growth will pick up in the second quarter as the government's stimulus measures gradually take effect," the State Information Center (SIC) forecast. "There has been preliminary success in arresting the economy's downward trend," it said, but did not mention any fallout from the global H1N1 flu alert. But Zhu Baoliang, an SIC economist and one of the authors of the SIC report, said the economy will only be slightly affected by the H1N1 flu. Annualized GDP growth sank to a decade's low in the first quarter, largely because of a collapse in export demand. But analysts said the economy might have bottomed out since then as latest economic figures are increasingly upbeat. The CLSA China Purchasing Managers Index (PMI), a gauge of manufacturing activity, rose to 50.1 in April, the first time it has been above 50 since last August, CLSA Asia-Pacific Markets said yesterday. A PMI reading above 50 indicates an expansion of the manufacturing sector, while a reading below 50 signals a contraction. Also, the PMI index compiled by the Federation of Logistics and Purchasing rose for the fifth straight month in April to 53.5 percent, up 1.1 percentage points from a month earlier. The positive economic signs sent stock markets up across Asia, with the mainland's Shanghai Composite Index rising 3.3 percent and Hong Kong's Hang Seng index 5.5 percent. "The Chinese government has been extremely successful in stimulating investment," said Eric Fishwick, CLSA head of economic research. "We hope that firmer domestic demand, as government spending gains traction, will keep the PMI above 50 in the months to come." The World Bank said in a report in early April that the Chinese economy is expected to bottom out by the middle of 2009. It also forecast China's economic growth at 6.5 percent for the year. The International Monetary Fund also forecast last month that growth in China is expected to slow to about 6.5 percent this year. Consumer spending held fast over the past months, despite looming unemployment pressure. About 2.68 million vehicles were sold in the first quarter, making the nation the world's largest auto market during the period. Housing sales surged 23.1 percent by value while retail sales rose 15.9 percent in the first quarter, 3.6 percentage points higher than the same period a year earlier. "Based on the clear uptrend in recent economic activity we believe the worst is already behind China in terms of economic growth," Sun Mingchun, chief China economist of Nomura International, wrote in a research note. Sun said China would achieve its 8 percent growth target this year, with a V-shaped growth trajectory. But some analysts argue that the figures could be volatile and the economy has to deal with the structural problem of overcapacity. "It's still too early to say the economy is experiencing a real recovery," said Zhu, the SIC economist. "Over the past months, local enterprises have been running down their inventories. Now they have to reduce overcapacity."
来源:资阳报