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TAIPEI, April 20 (Xinhua) -- Taiwan authorities has temporarily raised the daily quota of mainland tourists from 3,000 to 7,200, to cope with the increasing number of travelers.     Tse Lap-kong, a Taiwanese official, said the temporary adjustment was meant to cope with the surge of tourist numbers in the coming two weeks, a travel peak season for mainlanders.     It is estimated that more than 30,000 mainland tourists could arrive in Taiwan in the coming week, with a daily average of 4,100.     Daily mainland tourist arrivals were less than 3,000 in the first few months since Taiwan was opened to them as a destination last July, and the temporary change would use the unfulfilled quota from that period, Tse said.     The daily quota would remain at 3,000 on a yearly average, he said.     Taiwan authorities might also extend the allowed period for visiting mainland businessmen and professionals, with a final decision in late April, local media reported.     Business trips would be extended from a maximum of two weeks to one month, and visiting businessmen and experts would be allowed an additional five days based on their travel schedule, according to the reports.     Industrial and commercial organizations with an annual turnover of more than 30 million New Taiwan dollars (883,260 U.S. dollars) would have the number of invited mainlanders increased from 50 to 200, while the number for those below 30 million New Taiwan dollars would rise to 45 from 15, said the reports.     Local authorities were also planning to shorten the approval time for applications of mainland businessmen from one month to two weeks.     More than 174,000 Chinese mainland tourists visited Taiwan from July last year till early April, according to mainland statistics.     The daily number of mainland visitors to the island on organized trips reached about 3,000 at the end of March, he said, adding that the number soared to more than 4,000 on April 7.     The Chinese mainland and Taiwan agreed to allow mainland touri

BEIJING, March 29 (Xinhua) -- Chinese Vice Premier Wang Qishan has called on the international community to "act together" at the upcoming London summit to get through the global financial crisis, in an article published by the British newspaper The Times on Friday.     In the article entitled "G20 must look beyond the needs of the top 20," with a subtitle "China believes the developing world should have a stronger say in how the international financial system is run," Wang urged all heads of states to be present at the G20 London summit to "act together to get through the time of hardship."     After the financial crisis broke out, China was quick to put in place a decisive plan to boost domestic demand, advance economic restructuring and improve people's well-being, which have started to produce results, said the vice premier.     However, the Chinese economy still faces severe challenges, including to meet the demanding goal of maintaining economic growth by boosting domestic demand, ensuring employment and readjusting the economic structure. China also has to cope with shrinking external demand caused by the global economic downturn and trade and investment protectionism, Wang said.     "China will continue to take forceful measures to maintain steady and fast economic growth and contribute its share to an early recovery of the world economy," Wang pledged in the article.     Since the G20 summit in Washington last year, said Wang, China has provided a lot of assistance and support through a variety of means to a number of countries and regions, and played a part in the creation of significant Asian and global economic and trade initiatives.     The Chinese leader stressed the significance of the international community to enhance coordination and cooperation to overcome the current difficulties.     "Efforts should be made to expand trade and investment cooperation to bolster economic growth, step up cooperation among small and medium-size businesses to ensure employment stability, and strengthen cooperation in energy conservation and emissions' reduction, environmental protection and development of new energy technologies to nurture growth points for the world economy," Wang suggested.     He firmly rejected trade and investment protectionism of all kind. "The international community should recognize that the trend towards economic globalization is irreversible and should take credible steps to reject all forms of trade and investment protectionism," he said.     Wang also called on the international financial system to be reformed, "with the focus on readjusting the governance structure of international financial institutions and increasing the representation and voice of developing countries." He asked the London summit to set a clear goal, timetable and road-map for such reform.     To prevent similar crisis from happening again, Wang, also a Chinese economic expert, suggested prudent regulation of all financial markets and institutions involved to be tightened and regulatory coordination and cooperation at both the regional and international levels to be increased.     On the hot topic of increasing financial resources for the International Monetary Fund (IMF), he said China supports the increase as far as the fund is safe and reasonable returns can be ensured.     "China is ready to play an active part in exploring ways to raise resources and will contribute to this effort within its ability," Wang said. He asked the IMF to mobilize resources through the "quota-based" system as well as voluntary contributions, striking a balance between the rights and obligations of the contributing countries.     As a return, said the Chinese vice premier, the IMF must enhance capacity-building, reform governance structure and ensure that the resources play a significant role in easing the international financial crisis and countering the global economic downturn. China inclines to see the resources mainly to be used to help developing countries which are seriously hit by the crisis, Wang said.     Leaders of the world's 20 largest economies will meet in London on Thursday to discuss, among other things, a coordinated response to the current global financial crisis

BEIJING, March 26 (Xinhua) -- China's central bank governor has spoken highly of the government's rapid responses to the current global financial crisis, featuring decisively adopting a proactive fiscal policy and an adaptively easing monetary policy, and launching a bundle of timely, targeted and temporary policies and measures.     The prompt, decisive and effective policy measures adopted by the Chinese government demonstrates "its superior system advantage when it comes to making vital policy decisions," says Zhou Xiaochuan, president of the People's Bank of China (PBC), in an article entitled "Changing Pro-cyclicality for Financial and Economic Stability."     It is Zhou's third article published on the central bank's official website (WWW.PBC.GOV.CN) this week to discuss the issue of the current global financial crisis. His first and second articles, published on Monday and Tuesday, are entitled "Reform the International Monetary System" and "On Savings Ratio," respectively.     In the third article, the 61-year old central bank governor tries to find out the root causes for the current financial crisis, including but not limited to lessons on monetary policy, financial sector regulations, accounting rules.     The top Chinese banker says he wants to stimulate debate and discussions on some of the pro-cyclical features in the system, possible remedial measures, and how monetary and fiscal authorities can play their professional roles at times of severe market distress.     "Financial crises normally originate in the accumulation of bubbles and their subsequent bursts. Usually, economists pay a lot of attentions to pro-cyclicality on the macro level.     However, on the micro level, there are quite a number of notable pro-cyclical features embedded in the market structure today, which should be addressed as we deal with the current crisis and reform the financial system," he says.     Zhou suggests that in the current market structure, more counter-cyclical mechanisms or negative feedback loops on micro-level should be put in place to sustain a more stable financial system.     In the article, he notes that rating problems and herding phenomenon arise from outsourcing.     The global financial system relies heavily on the external credit ratings for investment decisions and risk management, giving rise to a prominent feature of pro-cyclicality, according to the central bank governor.     "Economic upswings produce euphoria and downturns generate pessimism," he says, "Many market players adopting ratings from the three agencies and using them as the yardstick for operations and internal performance assessments clearly result in a massive "herd behavior" at the institutional level."     Zhou points out that some market players seem to have forgotten that the ratings are no more than indicators of default probabilities based on past experiences but were never meant to be guarantees for the future, he says. "Once problems take place, as we have seen during the current crisis, fingers are pointed to the rating agencies," he says.     He suggests that financial institutions should try to rely more on internal rating in assessing risks.     He calls for giving full play to the professional role of authorities in maintaining overall financial stability and establishing a counter-cyclical mechanism for capital requirement     "To stabilize markets under severe stress, finance ministries and central banks need to act fast and apply extraordinary measures," he says, "Untimely or delayed response falls behind the curve and would make the outcome less than desired even if the response is correct and strong."     In modern Western societies, a prolonged political process for mandates to finance ministries or central banks often miss the best timing for action, Zhou says, adding, "We have observed such cases during the current crisis."     He suggests that governments and legislatures may consider giving pre-authorized mandates to ministries of finance and central banks to use extraordinary means to contain systemic risk under well-defined stress scenarios, in order to allow them to act boldly and expeditiously without having to go through a lengthy or even painful approval process.     "Such systematic pre-authorized mandates would put the specialized expertise of finance ministries and central banks to the best use when markets need it the most," he stresses.     The central bank governor attributes China's current success in easing the impacts of the crisis to the country's financial sector reform and ongoing macroeconomic stimulus measures     In 2003, fully aware of the systemic vulnerabilities of China's banking industry, the Chinese government made a courageous and strategic decision to restructure the four state-owned commercial banks, says Zhou, who took over as the PBC governor in late 2002.     In the article, Zhou gives a look back on the reforms of the country's major banks and security industry.     But he warns, "We should bear in mind that despite the notable achievements in banking reform, the major banks have not gone through a full business cycle and still have much to improve. An economic slowdown will be the ultimate stress test for the robustness of the banks' strengths."     According to the bank governor, irrespective of China's sound financial sector, the Chinese economy, especially the export sector, has felt the impact brought by the slowdown of the global economy.     He praises the Chinese government for its plans to stimulate domestic demand and promote stable and relatively rapid economic growth, including the extra investment of 4 trillion yuan (685 billion U.S. dollars) in over two years, the ten measures to revitalize the industrial sectors, and other bolster measures to increase money supply, promote employment, reform taxes and medical and healthcare system.     "Having taken the above-mentioned measures, China expect to maintain stable economic growth by boosting domestic demand and reducing dependence on external demand, thus serving as a stabilizing force in global economy," Zhou says.     In overall, the macroeconomic measures have produced preliminary result and some leading indicators are pointing to recovery of economic growth, indicating that rapid decline in growth has been curbed, he concludes.

BEIJING, Feb. 5 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao have ordered all-out efforts to combat the severe drought in the country's vast wheat-growing area to ensure a good summer harvest, a State Council meeting was told Thursday. The central government on Thursday decided to earmark another 300 million yuan (44 million U.S. dollars) as drought relief fund in additional to 100 million yuan already allocated. The fund will be used to buy agricultural machinery and other production materials.     Lack of rainfall has led to severe drought in northern China, leaving about 141 million mu (9.3 million hectares) wheat or 43 percent of the country's total affected, according to the Ministry of Agriculture (MOA). People irrigate the wheat field at Xiaolu Village in Yuzhou, a city in central China's Henan Province, on Feb. 4, 2009. Henan, China's major grain producer, issued a red alert for drought on Jan. 29. The provincial meteorological bureau said the drought is the worst since 1951. The drought has affected 63 percent of the province's 5.26 million hectares of wheat.    About 145 million mu crops have been affected by the drought nationwide, or 40 million mu more than the same period last winter.     Government at all levels should give anti-drought work a priority in an effort to stabilize grain production, increase farmers' income and ensure agricultural production, the State Council said.     Relevant departments in local regions were asked to enhance farmland management, mobilize human resources, ensure technology service and enlarge irrigation areas.     Efforts should also go to build emergency water resources projects and carry out artificial precipitation to alleviate water shortage and ensure drinking water for both people and livestock. The Ministry of Water Resources also said it would enhance supervision and launch emergency plan when necessary.     Relevant departments should allocate special funds to aid poverty-stricken people in rural areas.     The Cabinet said it will send working teams to eight drought-hit provinces to discuss anti-drought procedures. The MOA has already sent 12 working teams of experts to the drought-hit provinces, to instruct farmers on drought relief work.     Plant diseases and pest prevention were discussed and local governments were advised to supervise and prevent the spread of severe animal diseases.     Efforts should also be made to monitor or combat forestry fire, upgrade anti-disaster ability and avoid casualty, the State Council said.

WUHAN, March 31 (Xinhua) -- Chinese Premier Wen Jiabao has called for realizing healthy and rapid economic growth through technical innovation and industrial upgrading during a visit to the country's central regions.     More government support should go to high technology industries such as electronic information, software service and bio-medicines, Wen said during a visit to enterprises in Hubei Province from Sunday to Tuesday. Chinese Premier Wen Jiabao (C) visits the Wuhan Dongfeng Motor Corporation in Wuhan, capital of central China's Hubei Province, March 30, 2009. Wen Jiabao, also member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, inspected Hubei Province from March 29 to 31.Wen emphasized importance of possessing intellectual property rights and encouraged companies to strengthen research and development and make breakthroughs in core technologies.     The country's future lay in innovation, and all challenges would be conquered if China adhered to innovation in its development, Wen said. Chinese Premier Wen Jiabao (L front) talks with a shopkeeper at a market in Sanfutan Town, Xiantao City in central China's Hubei Province, March 29, 2009.Visiting automobile, shipbuilding and steel companies in Wuhan, the provincial capital, Wen encouraged the manufacturing sector to make full use of government support plans.     "We must have confidence in ourselves and work hard during times of hardship so as to take the country's manufacturing industry to a new level," Wen said. Chinese Premier Wen Jiabao (C) visits the Jiang Toon Animation Co., Ltd. at the Wuhan Optical Valley Software Park in Wuhan, capital of central China's Hubei Province, March 30, 2009The State Council, the Cabinet, has issued a series of support plans for 10 key industries such as automobile, steel, textile and garment sectors since January in a bid to stimulate China's economy, whose year-on-year growth slowed to a seven-year low of 9percent in 2008.     Wen said agricultural production was stable and urged officials to give priority to the rural economy and raise farmer's incomes, as rural development played an important role in guarding against the impact of the global financial crisis. Chinese Premier Wen Jiabao (R front) talks with local residents in Minsan Village, Huchang Town, Xiantao City in central China's Hubei Province, March 29, 2009. Governments at all levels should prevent prices of economic crops dropping by national purchase and price protection, give more agricultural subsidies and enlarge the rural market through policies such as subsidizing rural residents in buying household electric appliances, Wen said.     Wen also urged governments to take measures improve employment and raise living standards. Chinese Premier Wen Jiabao (2nd R) talks with local residents at their home in Hekou Village, Huchang Town, Xiantao City in central China's Hubei Province, March 29, 2009.