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BEIJING, Jan. 22 (Xinhua) -- Chinese President called on members of all political parties, social organizations and ethnic groups to make concerted efforts to help China maintain steady economic growth in 2009. Hu made the remarks when meeting leaders of non-communist parties, All-China Federation of Industry and Commerce, and public figures without party affiliation on Thursday afternoon. The meeting was presided by China's top political advisor Jia Qinglin. Vice President Xi Jinping and Vice Premier Li Keqiang also attended the meeting. Hu first extended New Year greetings to all members of the United Front, a term used by the Communist Party of China (CPC) to describe its policy of uniting political forces representing people of all circles. He also expressed gratitude for their contribution to China's economic development and social stability in 2008. Chinese President Hu Jintao (3rd R), who is also General Secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), and other Chinese top leaders Jia Qinglin (2nd R), Xi Jinping (4th R) and Li Keqiang (1st R) attend a meeting with representatives of non-communist parties ahead of the Spring Festival in Beijing, capital of China, Jan. 22, 2009. Hu Jintao delivered an important speech at the meeting, which is presided over by Jia Qinglin. Hu said 2009 marked the 60th anniversary of the establishment of China, and was of crucial importance to the country's modernization. The top priority of the country in 2009 was to stimulate economic growth, safeguard people's livelihoods, and maintain social stability, Hu said. These tasks could not be done without the concerted efforts of members of all political parties, social organizations and ethnic groups in the country, he said. He said maintaining steady economic growth amid the currently disadvantaged situations had posed a major challenge for the governance capacity of the CPC and for the non-communist parties' ability to participate in government and political affairs. Members of the United Front should take advantage of their extensive resources to further contribute to the economic development of the country, he said. Hu said year 2009 also marks the 60th anniversary of the founding of the system of multi-party cooperation and political consultation under the leadership of the Communist Party, and urged non-communist parties to adhere to the system in the coming years.
BEIJING, Nov. 28 (Xinhua) -- The Political Bureau of the Communist Party of China (CPC) Central Committee convened a meeting here on Friday, analyzing and studying the economic work of next year and setting out major tasks. The meeting said that this year has been eventful and the country has risen to many daunting challenges, including the global financial crisis and domestic natural disasters. The economy has maintained a stable and relatively fast growth and society has been stable, which are hard-won achievements, it said. The meeting, chaired by CPC Central Committee General Secretary Hu Jintao, warned that the worsening global financial crisis would have more impact on China's economic development, urging the country to take more precautionary measures to meet the challenges. The meeting said that next year, which marks the 60th anniversary of the founding of New China, the nation should boost domestic demand for a stable and relatively fast economic growth, accelerate the transformation of development patterns and structure adjustment for sustainable development, deepen the reform and opening-up drive and solve problems that concern the people's interests for a healthy and rapid economic and social development. Maintaining a stable and relatively fast economic development should be the foremost task for next year's economic work, it said, urging a better combination of ensuring growth, boosting domestic demand and adjusting structure. An "active" fiscal policy and "moderately loose" monetary policy should be continued, and measures including tax reduction and increasing central government investment should be taken to safeguard the people's livelihood, stimulate domestic demand and transform development patterns, it said. Consumption, rural consumption in particular, should be actively boosted and a set of major projects on livelihood, infrastructure and environment protection should be launched. The position of agriculture as the foundation of the economy should be strengthened and agriculture production be boosted, it said. The stable growth of foreign trade should also be maintained. Structural adjustment should be accelerated, including developing the high-tech industry, small and medium-sized enterprises, the service sector and coordinating regional development. More progress should be made on energy saving and emissions reduction and pollution treatment be stepped up, the meeting urged. Rural reform and financial reform should be deepened, and people's livelihood should be improved and more jobs be created, it said. The meeting also agreed in principle suggestions on judicial reform by the CPC Central Political and Legal Affairs Commission. The reform should meet the judiciary needs of the people and aim at promoting social harmony, beef up measures to tighten the restraint on and supervision over the use of power, and remove barriers that hamper justice, it said.
BEIJING, Nov. 26 (Xinhua) -- China's State Council, or the Cabinet, said on Wednesday that more efforts would be made to encourage enterprises to upgrade technology and engage in independent innovation. It also said there would be policies to promote merger and acquisition among enterprises. The policies were clinched at an executive meeting of the State Council, presided over by Premier Wen Jiabao. The meeting was held to discuss measures to address difficulties faced by enterprises and promote economic growth and deliberate plans to reform finished oil pricing mechanism and fuel taxes and fees. According to the meeting, plans would be drawn up to help some key industries, including steel, auto, ship manufacturing, petrochemical, light industry, textile, nonferrous metals, equipment manufacturing and information technology. The meeting urged banks to increase credit supply to help small and medium enterprises overcome difficulties. To offset adverse global economic conditions, the State Council on Nov. 9 has announced a 4 trillion yuan (585.7 billion U.S. dollars) stimulus package to boost domestic demand. This will be combined with other boosting measures, such as loosening credit conditions and cutting taxes. The huge amount of money will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding after several disasters, most notably the May 12 earthquake. The State Council also discussed the reform plans of finished oil pricing mechanism and fuel tax and fees at the meeting. It decided to make public the two draft reform plans to solicit public advice. According to the National Development and Reform Commission, the government has been studying a fuel tax to replace the current road tolls imposed upon vehicles. The long-awaited fuel tax and fee reform was first proposed in 1994. The State Council meeting also reached decisions to increase the storage of key materials and resources, accelerate development of the service industry and enhance measures to promote employment and social security. More education and job training would be provided among the government's efforts to increase employment. This education and training should also cover the lay-off workers and rural laborers who returned from cities because of unemployment, according to the meeting.
BEIJING, Oct. 31 (Xinhua) -- China's decision to cut interest rates on Thursday is part of its flexible monetary policy to cope with the world financial crisis and boost domestic economy, a central bank spokesman said on Friday. Li Chao, spokesman of the People's Bank of China (PBOC) explained the government's cut in interest rates for the second time in one month. On Wednesday, the PBOC announced to cut interest rates by 0.27 percentage points as of Oct. 30 to spur economic growth. The benchmark one-year deposit rate dropped to 3.60 percent from 3.87percent, while the benchmark one-year lending rate fall from 6.93 percent to 6.66 percent. The previous cut was on Oct. 8, when the PBOC announced a lowering of deposit and lending rates by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15. Li said the move was in response to a spreading and worsening world financial crisis. "The severe crisis was beyond most people's expectations." He said: "China's economy relies highly on external markets. It is very necessary for the country to adjust economic policy, including monetary policy, in a timely and flexible manner to reduce the negative impact to a minimum." "Recently, China's exports have weakened as a result of weak world demand. Domestic export-oriented enterprises, especially those coastal based companies, face difficulties," he added. The country's export value in the first three quarters was 1.07trillion dollars -- up 22.3 percent -- the growth rate was 4.8 percentage points lower, official figure showed. "Meanwhile, the nation's inflation pressure has been eased," he said, adding the latest interest rate cut aims at maintaining the energy of China's economic growth. 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 last year. 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. When asked the reason why the government only reduced interest rates and left the reserve-requirement ratio unchanged in the latest move, Li said this is because liquidity of the country's bank is adequate. Li said to cope with the international financial crisis and maintain sound and relatively fast national economic growth, the central bank has removed mandatory restriction on the commercial banks' loan plan. He said that China has confidence that it can resist the world financial crisis, as the country has great potential in expanding its domestic demand, and the financial system is stable. He called for cooperation between countries worldwide to cope with the crisis, and to carry out international financial system reform
BEIJING, Nov. 5 (Xinhua) -- Agreements on direct flights and shipping, signed on Tuesday in Taipei, are drawing strong interest from airlines and shipping companies from the mainland and Taiwan. "Regular charter flights, instead of flights only weekends and festivals, were our long-term expectations," said Liu Shaoyong, the general manager of mainland-based China Southern Airlines. "Direct air routes are very good for our business." A flight from the mainland to Taiwan via Hong Kong under the current arrangement takes two hours and 42 minutes and burns 16 tonnes of fuel. Under the new arrangement, flights will take 69 minutes and burn 7.3 tonnes of fuel. "Less travel time and expense benefits both passengers and airlines," Liu said. Wei Hsing-Hsiung, chairman of the board of Taiwan-based China Airlines, was glad to see the number of passenger charter flights increase from 36 on weekends to 108 a week. "We have profits of about 1.5 million U.S. dollars from weekend charter flights. The figure is likely to reach 5 million dollars due to more flights, while the cost might fall by 20 percent as the route is shorter," he said. The new agreement only opened one direct air route, between Shanghai and Taipei. Xiamen, the coastal city in southeastern Fujian Province directly opposite to Taiwan, was not included. Mainland's Association for Relations Across the Taiwan Straits (ARATS) President Chen Yunlin(R) and Taiwan-based Straits Exchange Foundation (SEF) Chairman Chiang Pin-kung attend the symposia on industry and shipping in Taipei, southeast China's Taiwan Province, Nov. 5, 2008. They attended two symposia, one on industry and shipping and the other on finance, that were held against the backdrop of international financial crisis and struggling world economy in Taipei on Wednesday"We are expecting more air routes," said Yang Guanghua, general manager of Xiamen Airlines. The flight distance between Xiamen and Taipei will be one third shorter than at present and the flying time will be about half, he said. The two sides said in the agreement that they are going to negotiate another route linking the southern part of Taiwan with the mainland. To cope with increasing flights, Yang's company plans to use 10more passenger planes next year, he said. Taiwan's senior economic official Shih Yen-shiang told the local daily China Times on Wednesday that he estimated every direct trip across the Strait could save companies 300,000 New Taiwan dollars (about 9,000 U.S. dollars). "Based on 4,000 trips a year, 1.2 billion dollars will be saved," he said. Under the new agreement, the mainland and Taiwan will exempt each other's shipping firms from business and income taxes. For the container divisions of Taiwan's three leading shipping lines -- Evergreen Marine, Wan Hai Lines and Yang Ming Group -- 60percent could be related to the mainland. Tax cuts will save each 2 to 3 billion NT dollars, another local newspaper, the Commercial Times, said. Ningbo of eastern Zhejiang Province was one of the 63 ports that the mainland opened to Taiwan ships. "The most direct effect will be increasing cargo volume," said Tong Mengda, chief economist of Ningbo Port Holding. "The voyage to Taiwan has been cut from 25 hours to ten. This is good for both shipping companies and ports."