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EDINBURGH, May 9 (Xinhua) -- Chinese Vice Premier Wang Qishan said Friday during a visit to Scotland that China hopes to strengthen cooperation with Scotland, especially in the areas of education, culture, tourism and finance. Wang, who is on an official visit to Britain, spoke during a meeting with Alex Salmond, Scotland's first minister. Both sides praised the friendship between China and Scotland and expressed a readiness to strengthen their cooperation as part of an effort to promote the all-round strategic partnership between China and Britain. During the meeting, the two also exchanged views on how to tackle the global financial crisis. "Currently we should further strengthen confidence in the market and recover the functions of the financial market as soon as possible," Wang said. After the outbreak of the Asian financial crisis, China adopted a series of measures that pulled it through the trouble and helped to maintain the stability of the financial market, Wang said. Salmond spoke highly of the economic stimulus packages arranged by the Chinese government to tackle the current financial crisis. Wang arrived at Edinburgh on Friday after a visit to the Europe Union
BEIJING, June 16 (Xinhua) -- For the first time in more than one year, China reduced its holding of U.S. Treasury bonds, and experts told Xinhua Tuesday that move reflected concern over the safety of U.S.-dollar-linked assets. Data from the U.S. Treasury showed China pared its stake in Treasury bonds by 4.4 billion U.S. dollars, to 763.5 billion U.S. dollars, as of the end of April compared with March. Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University, told Xinhua that the move might reflect activity by China's institutional investors. "It was a rather small amount compared with the holdings of more than 700 billion U.S. dollars." "It is unclear whether the reduction will continue because the amount is so small. But the cut signals caution of governments or institutions toward U.S. Treasury bonds," Zhang Bin, researcher with the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, a government think tank, told Xinhua. He added that the weakening U.S. dollar posed a threat to the holdings of U.S. Treasury bonds. The U.S. government began to increase currency supply through purchases of Treasury bonds and other bonds in March, which raised concern among investors about the creditworthiness of U.S. Treasury bonds. The move also dented investor confidence in the U.S. dollar and dollar-linked assets. China, the biggest holder of U.S. Treasury bonds, is highly exposed. In March, Premier Wen Jiabao called on the United States "to guarantee the safety of China's assets." China is not the only nation that trimmed holdings of U.S. Treasury bonds in April: Japan, Russian and Brazil did likewise, to reduce their reliance on the U.S. dollar. However, Tan said that U.S. Treasury bonds were still a good investment choice. Hu Xiaolian, head of the State Administration of Foreign Exchange, said in March that U.S. Treasury bonds played a very important role in China's investment of its foreign exchange reserves. China would continue to buy the bonds while keeping an eye on fluctuations. Zhang said it would take months to see if China would lower its stake. Even so, any reduction would not be large, or international financial markets would be shaken, he said. Wang Yuanlong, researcher with the Bank of China, said the root of the problem was the years of trade surpluses, which created the huge amount of foreign exchange reserves in China. It left China's assets tethered to the U.S. dollar, he said. He said making the Renminbi a global currency would cut China's demand for the U.S. dollar and reduce its proportion in the trade surplus.

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, 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 1 (Xinhua) -- Chinese Premier Wen Jiabao and his British counterpart Gordon Brown on Wednesday held a telephone conversation on bilateral ties and other issues of common concern. Wen said China-Britain ties are currently developing smoothly, and the two sides have conducted close communication and coordination on tackling the global financial crisis and climate change, and have played positive and constructive roles in the international arena. He said China is willing to keep high-level exchanges with Britain, strengthen bilateral cooperation, push forward bilateral ties, and make joint efforts with Britain to make a contribution to the world's sustainable development. Brown said Britain attaches great importance to the development of its comprehensive strategic partnership with China, appreciates the Chinese government's firm resolution and vigorous measures adopted in handling of the global financial crisis, supports China's important role in tackling climate change, and hopes to deepen mutually beneficial cooperation with China in various fields. The two leaders also exchanged views on other international issues of common concern
来源:资阳报