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BEIJING, June 14 (Xinhua) -- Chinese Premier Wen Jiabao stressed the importance of promoting domestic consumption and independent research and development during a three-day inspection tour of the central Hunan Province, which ended Sunday. Wen said the key to a sound economic future lay in continuing to "unswervingly" implement the government's policies to deal with the international economic downturn. Companies should increase investment in research and development and better utilize science and technologies to "foster new economic growth points," he said. Local governments, meanwhile, should develop energy-efficient and environment-friendly industries and put priority on a recycling and green economy, he said. Chinese Premier Wen Jiabao (C), also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks with employees of Geely Automobile Parts Co.,Ltd in central China's Hunan Province, on June 13, 2009. Premier Wen made an inspection tour in Hunan Province from June 12 to June 14.During his trip in Hunan, Wen visited companies, Hunan University, job markets and farmlands. He said the enhanced economic power of central and western regions, whose economies profited from central government support policies, added vigor to the country's economic development and should continue to be supported. The central region, a link between the east and the west, should speed up industrial restructuring with a focus on local characteristics and advantages while tapping emerging industries, such as IT and bioengineering, said Wen. He also called for more attention to education and talent in China's future reform and opening, and the building of a social welfare system that values the improvement of living standards. Visiting farms, Wen said wheat production this summer was sure to grow over last year and that the country should focus on a more balanced economic development between urban and rural areas. "Stable agricultural output makes a stable economy and stable lives for the people," Wen said.
BEIJING, June 28 (Xinhua) -- Chinese President Hu Jintao has called for more confidence in the country's stable economic growth and gaining more strength to better people's livelihood. He made the calls during an inspection tour in northeastern China's Heilongjiang Province from June 26 to 28, one of the country's old industrial bases and important granaries. Hu encouraged people in Heilongjiang to seize the opportunity as China moved to revitalize its old industrial bases, to overcome the difficulties and maintain a steady economic growth and ensure people's livelihood. Chinese President Hu Jintao (C) talks with residents at Dongsheng Village in Wuliming Town of Zhaodong City, northeast China's Heilongjiang Province. President Hu Jintao made an inspection tour in Heilongjiang Province on June 26-28, 2009. During his three-day inspection tour, Hu visited Harbin Measuring and Cutting Tool Group and Harbin Aircraft Industry Group, two of the province's major industrial enterprises, and pointed out that independent innovations are key to high competitiveness and further development. "Crisis creates opportunities, and we shall put more efforts in technological upgrading, and build up technology reserves for the future," he said. Hu also visited rural areas and inspected crop growth. He encouraged farmers to increase grain production and boost agricultural modernization, so as to ensure the country's grain security. More supportive policies for farmers are on the way, he said, hoping that farmers could increase their incomes with improved policies and technologies. Hu also visited an oil field, a military camp, a school for intellectually challenged children, a human resources market, and a residential community which houses people who formerly lived in shanties.
BEIJING, May 8 (Xinhua) -- Premier Wen Jiabao on Friday visited Xiamen, a southeastern port city which faces Taiwan across the sea, urging cooperation for a win-win result for the mainland and Taiwan. With more than 3,300 Taiwan-invested companies, Xiamen, in Fujian Province, is a frontier platform for cross-Straits exchanges. While touring Chenhong Technology Company, Wen was pleased to learn the Taiwan-invested high-tech company registered a strong growth last year despite the global financial crisis. Chinese Premier Wen Jiabao (2nd L Front) smiles as he talks with clerks in the ticket hall of the Xiajin passenger transport dock in Xiamen, a coastal city in southeast China's Fujian Province, May 8, 2009. Premier Wen Jiabao made an inspection tour in Xiamen on May 8. He said the current peaceful development of cross-Strait ties had benefited both sides. "Recently, we have initiated new policies and measures to support the development of an economic zone on the western side of the Taiwan Strait. Taiwan-invested companies will have more development opportunities," Wen said. At Prima Electronics, another company with Taiwan investment, Wen was attracted by the company's slogan which urges the two sides to "join hands." Chinese Premier Wen Jiabao (C) poses for photos with tourists on the beach in Xiamen, a coastal city in southeast China's Fujian Province, May 8, 2009. Premier Wen Jiabao made an inspection tour in Xiamen on May 8."That's a very good slogan," he said. "To join hands is what the two sides must do. We welcome investment from Taiwan, because that boosts not only capital and technology exchanges, but brings people closer." At a symposium with representatives from Taiwan-invested companies in the evening, Wen asked all sides to work together and play their roles for the cross-Straits economic development and the rejuvenation of the Chinese nation.
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, July 16 (Xinhua) -- Chinese Vice President Xi Jinping attended Thursday the graduation ceremony of the Party School of the Communist Party of China (CPC) Central Committee and conferred certificates on graduates of the spring semester. Xi, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, is President of the school. Chinese Vice President Xi Jinping attends the graduation ceremony of the Party School of the Communist Party of China (CPC) Central Committee July 16, 2009. The ceremony marked the graduation of 744 Party officials from the Central Party School and more than 2,800 graduates from the school's branches The ceremony marked the graduation of 744 Party officials from the Central Party School and more than 2,800 graduates from the school's branches. Chinese Vice President Xi Jinping confers certificates on graduates of the spring semester of the Party School of the Communist Party of China (CPC) Central Committee July 16, 2009.The Party School of the CPC Central Committee is the highest institution for training high- and middle-ranking party officials and Maxist theoreticians. The School's history dates back to the school of Marxism and Communism set up in March 1933. The graduates said that during the study they had exchanged working experiences with each other and the education had strengthened their political belief. Politburo member and director of the CPC Central Committee Organization Department Li Yuanchao and several other high-ranking party officials also attended the graduation ceremony.