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ATHENS, Nov. 25 (Xinhua) -- Chinese President Hu Jintao said here on Tuesday that China hopes to push its ties with Greece to a higher level.     The Chinese government has attached great importance to its relations with Greece and has been viewing the bilateral ties from a strategic and long-term perspective, Hu said during his meeting with Greek Prime Minister Costas Karamanlis.     China hopes to expand the scope of shared interests with Greece and push forward bilateral cooperation in various sectors, the Chinese president said.     He suggested that the two sides set up a guideline for long-term economic cooperation and establish a more effective communication platform for enterprises on both sides. Chinese President Hu Jintao (R) meets with Greek Prime Minister Costas Karamanlis in Athens, capital of Greece, Nov. 25, 2008    He said that the Chinese government supports competent Chinese enterprises to invest in Greece and carry out mutually beneficial cooperation in telecom, energy, environmental protection, tourism and isle development.     He also proposed the two countries pay more attention to cooperation in the oceanic shipping industry.     In addition, China and Greece should devote major efforts to strengthening cultural cooperation, he said.     The two sides should enhance cooperation in language teaching, the protection of cultural relics, the press and publication, said the Chinese president.     Efforts should also be made to advance academic and youth exchanges and to explore cooperation potential in traditional medicine, disaster prevention and relief, as well as in social development, the Chinese president said.     Karamanlis said significant progress has been achieved in the Greek-Chinese ties after the two nations formed the comprehensive strategic partnership in 2006.     He echoed Hu by saying that the two sides should enhance cooperation in oceanic shipping and tourism.     Greece hopes to become a gateway of Chinese commodities into the region and welcomes Chinese people to visit the country, he said.     The two sides should also strengthen cooperation within international organizations as the world is faced with major challenges like the current financial crisis, the Greek prime minister said.     The two leaders also discussed Sino-European relations.     China is willing to work with its European partners to properly handle major issues of common concern and resolve differences in an effort to strengthen strategic mutual-trust, push forward cooperation in all areas and ensure the growth of the Sino-Europe comprehensive strategic partnership in the long run, Hu said.     He added that China appreciates the endeavor and contribution by Greece to the development of Sino-European ties and hoped the Greek side will play a more active role in the future.     For his part, Karamanlis promised to continue its active efforts in boosting China-EU relations in an all-round manner.     Hu arrived in Athens on Monday for a state visit to Greece, the last leg of his five-nation trip. He had earlier attended a financial summit in Washington and paid state visits to Costa Rica, Cuba and Peru, where he also attended the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima.

SHUIFU, Yunnan, Dec. 28 (Xinhua) -- The Jinsha River in south China was blocked on Sunday to make way for construction of a new hydropower project on the upper reaches of the Yangtze River.     At a cost of 43.4 billion yuan (about 6.3 billion U.S. dollars), the Xiangjiaba Hydropower Project is expected to be completed by 2015. It will be able to generate 30.7 billion kw hours of electricity a year.     "Electricity generated by hydropower stations will mainly be sold to China's eastern, southern and central regions," said Li Yong'an, general manager of the China Yangtze River Three Gorges Project Development Corporation. "Sichuan and Yunnan provinces will also benefit from it." Workers cheer for the damming of the Jinsha River in the construction of the Xiangjiaba Hydropower Station which is the third largest of its kind in China.     In addition to providing power, the project will play a role in flood control and farmland irrigation.     About 125,100 people from three counties of Yunnan Province and three counties of Sichuan Province have been resettled to make way for the project.     The Xiangjiaba project is one of a series of hydropower plants China plans to build on the Jinsha River to supply electricity to its economically more developed coastal regions.     The 2,290-kilometer-long Jinsha River, a tributary of Yangtze River, originates in Tanggula Range and flows through Qinghai, Tibet, Yunnan, and Sichuan.     Water is mostly stored in the river's middle and lower reaches where China plans to build 12 hydropower stations to share a 59.08- million-kilowatts installed capacity. Photo taken on Dec. 28, 2008 shows the last phase of damming the Jinsha River in the construction of the Xiangjiaba Hydropower Station which is the third largest of its kind in China.

BEIJING, Nov. 2 (Xinhua) -- China's gross domestic product (GDP) growth is expected to slow to 9.4 percent in 2008 from last year's 11.4 percent as the shrinking exports will cool the world's fourth largest economy, according to a Chinese credit rating agency report on Sunday.     The fundamentals of the economy are sound, but falling export orders would take a toll on the national economy in the short term, and domestic consumption needed time to play a bigger role, said the report released by the China Chengxin International Credit Rating Co. (CCXI), a joint venture of China's first rating agency China Chengxin Credit Management Co. Ltd. and U.S.-based Moody's Corporation.     The changing external economic environment and the burst of domestic asset bubbles would exacerbate the slowing economy, said the report.     The proactive fiscal policy was key to preventing the economy from falling and there was room for further cuts in bank reserve requirement ratios and interest rates.     It predicted the economy would gain 8.6 percent in 2009, but it gave no explanation of its forecast.     China's economy grew at 9 percent in the third quarter, the slowest in five years, as the global financial crisis sapped demand for Chinese goods, and domestic industrial production waned in response to weak demand and rising raw material costs.     The government has lowered interest rates three times in the last two months, increased export rebates and cut property transaction taxes to boost domestic consumption.     The report said the world financial crisis would have limited direct impact on the domestic banking system, but it warned Chinese exporters of default risks of foreign buyers.     Insurers and securities companies would be affected as the domestic capital market was growing more connected to the international market.     In September, the Manila-based Asian Development Bank, projected China's GDP growth to fall to 10 percent this year and further ease to 9.5 percent in 2009.     The slow-down was a result of the combined effects of a reduced trade surplus, slower growth in investment, and the global economic downturn, the Asian Development Outlook 2008 Update has said.

BEIJING, Jan. 7 (Xinhua) -- Chinese Vice Premier Li Keqiang urged more efficient and transparent use of government funds as the country faces rising fiscal expenditures while tackling the global financial crisis.     China should strengthen management and scrutiny of the fiscal budget and should reduce administrative expenses as the country faces relatively high fiscal pressure, Li said at a national fiscal conference on Tuesday.     The government must "firmly oppose extravagance and waste", he said.     China will have "a difficult fiscal year" in 2009 because of lower tax revenues and surging expenditures, Finance Minister Xie Xuren said on Monday.     China's 2008 fiscal revenue is expected to rise 19 percent to exceed 6 trillion yuan (about 857 billion U.S. dollars), said Xie.     That growth was slower than the 32.4-percent annual gain made in 2007.     The country's fiscal revenue increase started to slow down in the second half of 2008, said Xie. He attributed that change to economic deceleration, corporate profit decline and tax cuts made to boost growth.     China decided to carry out an "active fiscal policy" and "a moderately easy monetary policy" in 2009. It has unveiled a four trillion-yuan fiscal package to stimulate domestic demand.

nderstanding.     China has long been an ASEM advocator. Chinese premiers have attended all ASEM summits since 1996 and proposed to build up a new-type of Asia-Europe partnership.