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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

LUANDA, Jan. 19 (Xinhua) -- China's eight-measure policy designed to strengthen economic and trade cooperation with Africa has been effectively carried out with remarkable achievements in the past two years, Chinese Minister of Commerce Chen Deming said Monday.     In an exclusive interview with Xinhua, Chen said remarkable achievements have been scored in the two-way economic relations and trade cooperation between China and African since Chinese President Hu Jintao announced the eight-measure African policy at the Beijing Summit of the China-African Cooperation Forum in 2006 in Beijing.     The policy covers China's assistance to Africa, preferential loans and credits, the building of a conference center for the African Union, the canceling of debts, further opening-up of China's markets to Africa, the establishment of trade and economic cooperation zones in Africa, and the training of African professionals.     Since 2007, China has signed bilateral aid accords with 48 African countries and loan agreements with favorable terms with 22African countries, Chen said.     The year 2009 will witness a 200-percent increase in aid accords with African countries in value terms as compared to 2006,the minister said.     Meanwhile, the Chinese government will exempt 168 debts that should be paid by the end of 2005 by 33 African countries, he noted.     To encourage Chinese enterprises to invest in Africa, the Chinese government has established the China-Africa Fund with an initial allocation of 1 billion dollars, Chen said.     By the end of 2008, the China-Africa Fund had invested about 400 million dollars in 20 projects, which brought the total investment in Africa by Chinese enterprises to about 2 billion dollars.     The Chinese side plans to gradually expand the fund to 5 billion dollars, Chen said.     In addition, the construction of economic and trade zones or duty free trade zones in Africa is progressing smoothly, including the Zambia-China Economic and Trade Cooperation Zone, the Guangdong Economic and Trade Cooperation Zone in Nigeria and the Lekky Duty Free Trade Zone in Lagos, Nigeria, the Egypt-Suez Economic and Trade Zone and Ethiopian Orient Industrial Park, the minister said.     The Zambia-China Economic and Trade Cooperation Zone, as China's first trade cooperation zone in Africa, has been initially completed and put into operation, Chen said.     Ten Chinese enterprises with a combined investment of more than700 million dollars have set up plants in the zone located in the Zambian capital of Lusaka, offering some 3,500 jobs for local people, he noted.     Zambian President Rupiah Banda spoke highly of the establishment of the Zambia-China Economic and Trade Zone, as well as China's eight-measure economic policy on Africa. Like the Tanzania-Zambia Railway, the Zambian president said, the zone is a key measure symbolizing the Sino-African friendship in a new era.     To expand imports from the most underdeveloped African countries, China has exempted import tariffs from 31 African countries on farm products, stone materials, minerals, leather and hide, textiles, clothing, electric appliances and machinery and equipment, Chen said.     The African countries have gained a total of 680 million dollars in tariff exemptions during the period from 2006 to October 2008.     China has also cooperated in training African scientists and technical personnel in sectors including agriculture, medical care, social development and education.     Since 2007, China has offered training programs for 10,916 people from 49 African countries. By the end of 2009 China will send 100 advanced-level agrotechnicians to 35 African countries, Chen said.     China plans to establish 14 agricultural technology demonstration centers, all of which will begin construction by the end of this year.     Meanwhile, about half of the hospitals that China pledged to help build in Africa have already finished construction bidding, Chen noted.     The construction of the African Union Conference Center, also a Chinese aid project, began last December and is scheduled to be completed in 2011, he said.     Chen was scheduled to leave Angola for China on Monday, wrapping up a three-nation African trip that also took him to Kenya and Zambia.

BEIJING, Nov. 4 -- China has set a timetable for its large aircraft plan, and the first homemade jumbo jet will take to the skies by no later than the start of the 13th Five-Year Plan Period (2015-20), a senior official said yesterday.     This is the first time a timetable for the trunk liner project has been made public, since the Commercial Aircraft Corp of China Ltd was set up in May. The company is in charge of the large plane's assembly, marketing and after-sales service with an initial investment of 19 billion yuan (2.8 billion U.S. dollars).     Miao Wei, vice-minister of industry and information technology, said at the China International Aviation & Aerospace Forum 2008 yesterday that China-made jumbo jets will be on the market between 2015 and 2020.     "We will finish the concept design and research on key technologies before 2010, and have the first plane roll off the production line before 2014," he said.     Even though the domestic passenger transport volume has been dropping recently amid the global economic slowdown, Miao said he had confidence in China's vast demand for new planes.     "In the next 10 years, China will need at least 1,000 new planes," he said.     The corporation is currently studying a feasibility plan for the large plane, Jin Zhuanglong, its general manager said yesterday.     Some sub-projects have begun, and the large airplane's technology scheme and suppliers will be decided soon, he said.     The corporation, which is also responsible for marketing the homemade regional jet ARJ21, will sign its first overseas order, worth about 0 million, with General Electric Co, at the seventh China International Aviation & Aerospace Exhibition, which opens today.     GE's leasing unit will sign a contract for 25 ARJ21-700s, which raises the company's backlog to 208, Chen Jin, general manager for marketing and sales, said.     Miao said the ARJ21-700 will enter service next year, while work on a 100-seat version, a business-jet model and a freighter will start next year.     China has also received 136 orders for the MA 60, a propeller-driven commuter plane, Miao said.     Xi'an Aircraft Industry Group Co, the maker of the plane, has already delivered 34, he said.     "The next few years will be an important period for China's aviation industry," he said.     The ministry will draft a mid-and-long-term plan for the aviation industry soon in order to coordinate the development of large planes, regional jets and helicopters, he said.     Lunar ambitions     Models of a soft-lander and a rover for the second phase of China's lunar exploration program will be displayed at the air show for the first time.     Designed and made by China Aerospace Science and Technology Corporation (CAST), the soft-lander, weighing 3,800 kg on top of the launch vehicle, is likely to be launched in 2013, a corporation source said yesterday.     The government has given the nod to the second phase of the lunar program to explore the surface of the moon, the corporation said.

BEIJING, Nov. 18 (Xinhua) -- China's police departments should further standardize the procedure of law enforcement and build harmonious relations with the people, China's top police official said on Tuesday.     State Councilor Meng Jianzhu, also Minister of Public Security, said at a tele-conference with local public security heads that the police should "be fully aware of the challenge brought by the global financial crisis and try their best to maintain social stability."     Meng urged the police to further improve the way of law enforcement, using "a harmonious thinking to ease conflicts and a harmonious attitude to treat the people".     "You should let the people know the authority and dignity of the law, and meanwhile make them feel the care and warmth from the public security authorities," he said.     Earlier this month, Meng published an article in the journal of the Communist Party of China, Qiushi, or Seeking Truth, underscoring "the appropriate use of police force".     "In handling mass incidents, we must be clear that the chief tasks of the public security authorities are to maintain order on the scene, ease conflicts, avoid excessive steps and prevent the situation getting out of control," he wrote.     And the local officials must exercise caution in using police forces, weapons and coercive force, Meng said. "Incidents of bloodshed, injury and death should absolutely be avoided."     A violent protest, involving 30,000 people, broke out on June 28 in Weng'an County of southwest China's Guizhou Province. The protesters rampaged through government buildings and torched more than 160 offices and about 40 vehicles. More than 150 police and protesters were injured, most slightly, and no deaths were reported.     Provincial Party Chief Shi Zongyuan later blamed some local officials' "rude and roughshod solutions" to solve disputes over mines, the demolition of homes for public projects, the relocation of residents for reservoir construction and other issues.     "Some officials neglected their duties, but resorted to police force when any dispute happened, which led to strained relations between officials and the people, and police and the public," Shi said.

CHENGDU, Dec. 29 (Xinhua) -- President Hu Jintao visited quake-hit Sichuan Province over the weekend, showing concern for survivors and inspecting reconstruction work as winter set in.     It was Hu's second visit after the May 12 earthquake. Hu's last visit was on May 16, when quake relief work was in a critical phase.     The 8.0-magnitude quake, centered in Wenchuan County, left more than 69,000 people dead, 374,000 injured, 18,000 missing and millions homeless. Chinese President Hu Jintao visits students and teachers at Guixi Middle School in Beichuan Qiang Autonomous County, southwest China's Sichuan Province, Dec. 27, 2008. President Hu Jintao visited quake-hit Sichuan Province on Dec. 27-29, showing concern for survivors and inspecting reconstruction work.     From Saturday to Monday, Hu visited reconstruction sites, factories, villages, resettlement centers, schools and clinics in battered Mianyang, Deyang, Chengdu and Aba, giving residents and those helping with rebuilding work new year's greetings.     In villages and resettlement centers, Hu went into homes and even the kitchens and bedrooms of local people to see if they were warm enough and well-fed.     "The most important thing is to make sure all people are housed, have clothes and quilts to resist the cold, have enough food for the winter and coming spring, and medical service and epidemic prevention are in place," he said.     At Caijiagang Village, Wenchuan, Hu asked villager Ma Xizhi to be aware of safety problems in using electricity and fire and told local officials to respect farmers' will in building new homes with government subsidies.     At Guixi Middle School in Beichuan County, the president encouraged the students to study hard to repay society's concern. Chinese President Hu Jintao (L Front) shakes hands with a woman as he visits residents of the Xingfu Community in Dujiangyan City, southwest China's Sichuan Province, Dec. 28, 2008. President Hu Jintao visited quake-hit Sichuan Province on Dec. 27-29, showing concern for survivors and inspecting reconstruction work.     He told workers who were rebuilding the school to ensure the quality of the buildings and make them safe and solid.     Hu also inspected the progress of industrial and agricultural reconstruction in the quake areas.     At Dongfang Steam Turbine Works, a large state-owned enterprise, he asked about losses and the recovery of production, urging the employees to speed up the reconstruction and develop the facility into a world-class electric equipment manufacturer.     Many Dongfang employees were killed in the quake. Hu told the officials to pay visits to victims' families during the upcoming festivals and help them solve problems.     The central government has introduced policies to support agricultural recovery, Hu said at a herb production base in Huaxi Village, Dujiangyan. He encouraged growers to make good use of these policies and technology to recover losses from the quake.     The president also expressed respect to workers at reconstruction sites. In Hanwang Township, he praised workers for their hard work and encouraged them to live up to the expectations of the quake region and get their jobs done with high quality and efficiency. Chinese President Hu Jintao (R Front) shakes hands with a woman as he visits workers and inspects production at Dongfang Steam Turbine Works in Hanwang Township of Mianzhu City, southwest China's Sichuan Province, Dec. 28, 2008. President Hu Jintao visited quake-hit Sichuan Province on Dec. 27-29, showing concern for survivors and inspecting reconstruction work.     With the accelerating reconstruction work, demand for construction materials has grown. Hu visited a supply station in Dujiangyan, urging abundant supply and stable prices to serve local needs.     En route to Yingxiu Township, Hu encountered dozens of military vehicles transporting reconstruction material to the quake zone, part of the Chengdu Military District's 1,000-vehicle logistics task force.     Hu praised the soldiers for their contribution to the quake relief and reconstruction, asking them to overcome difficulties and finish the job.     While in Sichuan, Hu also met with provincial officials, encouraging them to fully implement the central government's reconstruction policies.     He told them to put people first, respect nature and seek a balance in speed and quality in rebuilding.     The great quake relief spirits formed in China's fight against the tremendous disaster are very precious, he said, urging the promotion of such spirits among officials at a time of difficulty as an inspiration.

来源：资阳报