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BEIJING, March 7 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the current international financial crisis, despite its severe impact on China's economy, also means an opportunity for the country.     China should take the opportunity to change its development pattern and realize structural adjustment so as to maintain a steady and relatively fast economic growth, Hu said when joining a panel discussion with deputies of the National People's Congress (NPC) from south China's Guangdong Province.     "Challenge and opportunity always come together. Under certain conditions, one could be transformed into the other," Hu said. Chinese President Hu Jintao (front, 2nd R) talks to female deputies during the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China’s Guangdong Province as International Women's Day is coming, in Beijing, capital of China, March 7, 2009    Hu said China should make full use of its advantages to break the bottlenecks of development. He also called for efforts to promptly and creatively implement the policies and plans of the central government to create conditions for solid and rapid development in the future. Wu Bangguo (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the Standing Committee of the National People's Congress (NPC), attends the panel discussion of deputies to the Second Session of the 11th NPC from east China's Shandong Province, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from Shandong Province, top legislator Wu Bangguo said to maintain economic growth is China's top priority now, and efforts should be made to boost domestic consumption so as to secure this year's economic development targets.     In face of impacts of global financial crisis, China should seek both a temporary solution and a permanent cure, and make efforts to upgrade its industry and improve competitiveness of Chinese enterprises, said Wu, chairman of the NPC Standing Committee. Chinese Premier Wen Jiabao (2nd R) attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from central China's Hubei Province, in Beijing, capital of China, March 7, 2009Premier Wen Jiabao said maintaining steady and relatively fast economic development amid the global financial crisis should be the focus of local governments.     The task can affect the overall development of the national economy and society, the people's interests, and the long-term development of the country's modernization drive, said Wen when joining NPC deputies from the central Hubei Province.     Governments at all levels should incorporate improving people's well-being into the efforts on maintaining economic growth to benefit the people and promote harmony and stability of society, Wen said.     He also urged local governments to take the opportunity to enhance their capabilities in dealing with complicated situations, keeping close contact with the public and implementing policies.     Governments should also improve their credibility among the people, Wen said. Jia Qinglin (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with members of the 11th National Committee of the CPPCC from the Communist Youth League of China, the All-China Youth Federation, the All-China Federation of Trade Unions and All-China Women's Federation, in Beijing, capital of China, March 7, 2009Top political advisor Jia Qinglin attended a joint panel discussion with political advisors from circles of trade unions, the youth league, and women's federations.     These social groups should "take initiative to resolve disputes, address depression of the public, and safeguard the rights of the employees, young people and women," he said.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), also called on them to help those with difficulties to find jobs. Li Changchun (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Ningxia Hui Autonomous Region, in Beijing, capital of China, March 7, 2009.Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said publicity work should serve the overall objectives of ensuring economic growth, people's well-being and social stability.     During the discussion with lawmakers from northwest Ningxia Hui Autonomous Region, he called on media and cultural workers to provide "spiritual" support for economic growth amid global downturn. Chinese Vice President Xi Jinping (front L), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China's Hong Kong Special Administrative Region, in Beijing, capital of China, March 7, 2009Vice President Xi Jinping joined panel discussions with lawmakers from Hong Kong and Macao respectively.     Xi said the governments of both Hong Kong and Macao special administrative regions (SAR) have taken prompt and effective measures to counter the impact of global financial crisis.     He said lawmakers from Hong Kong and Macao have played a positive role in the country's political affairs since China resumed the exercise of sovereignty over the two regions in 1997 and 1999 respectively.     Xi called on the lawmakers to fully exercise their functions and powers with focus on the country's measures of maintaining economic growth and social stability. Li Keqiang (front, 2nd R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Xinjiang Uygur Autonomous Region, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from the northwestern Xinjiang Uygur Autonomous Region, Vice Premier Li Keqiang said China can enjoy large room for economic manoeuvre due to its vast territory and the high mutual complementarity in economy between different regions.     "We should turn challenges into opportunities, boost the development of the western region, make full use of advantages (of different regions), tap the market, speed up industrial restructuring, and cultivate new economic growth areas so as to keep a steady and relatively fast economic growth," Li said.     He said Xinjiang enjoys a particularly important strategic status for the country's development and stability. Efforts should be made to secure Xinjiang's stable and prosperous development, enrich people and safeguard the frontiers and strengthen national unity and social stability, he said. He Guoqiang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from north China's Hebei Province, in Beijing, capital of China, March 7, 2009.He Guoqiang, secretary of the Communist Party of China (CPC) Central Commission for Discipline Inspection, called on officials to improve their work style in face of economic difficulties.     "We must enhance education on the officials, improve existing regulations, and step up supervision to ensure steady and relatively fast economic development," He, also member of the CPC Central Committee's Political Bureau Standing Committee, told NPC deputies from northern Hebei Province. Zhou Yongkang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from Tianjin Municipality, in Beijing, capital of China, March 7, 2009. When joining lawmakers from the northern Tianjin Municipality, Zhou Yongkang, member of the Standing Committee of the CPC Central Committee's Political Bureau, underlined the adherence to scientific decision-making approach.     He also urged officials to focus their efforts on solving issues concerning people's well-being to sustain stability and promote social harmony.

BEIJING, Feb. 26 (Xinhua) -- Chinese share prices registered a dramatic 3.87 percent drop Thursday as investor confidence collapsed ahead of the wary market performance and caused panic selling, analysts said.     The decline on overseas markets also had a negative effect.     The benchmark Shanghai Composite Index, which covers both A and B shares, opened higher after the government announced stimulus plans, but dipped 85.05 points, or 3.87 percent, to 2,121.52 points in the afternoon session.     The Shenzhen Component Index on the smaller Shenzhen bourse dropped to 7,777.90 points, down 463.76 points, or 5.63 percent.     Total turnover was 198.52 billion yuan (29.07 billion U.S. dollars), down from 209.05 billion yuan on Wednesday.     Losers led gainers by 841 to 34 in Shanghai and 719 to 36 in Shenzhen.     The weak performance of both the Wall Street and Hong Kong shares had cast a shadow over the mainland market, said analysts.     The financial sector, which led a market rebound Wednesday, failed to support the market in afternoon trading as it dipped 4.76 percent.     Shenzhen Development Bank, which almost fell by the 10-percent daily limit, ended up with an 8.91 percent drop to 13.8 yuan.     China Merchants Bank, which rose by 9.57 percent Wednesday, slipped4.36 percent to 14.27 yuan.     Machinery, automobiles, media and semiconductor sectors led the retreat, dropping 7.88 percent, 7.54 percent, 7.68 percent and 7.79 percent, respectively.     Non-ferrous metals also fell by 7.54 percent though the government announced a stimulus package for the industry Wednesday.     Chenzhou Mining, Corun New Energy, Tibet Mining, Advanced Technology and Materials, Western Metal Material, Sichuan Hongda and Xiamen Tungsten fell by the 10-percent daily limit.     Yongan Forestry bucked the trend, rising by the 10-percent daily limit. The forestry sector managed to close at no more than a 2 percent decline, as domestic media reported a government stimulus plan for forestry was under discussion.     China Eastern Airlines, one of the country's top three airlines, announced Thursday that its shareholders had passed a share placement plan which intended to raise 7 billion yuan from its parent company, China Eastern Group.     The company will issue 1.44 billion Shanghai-listed A shares at a price of 3.87 yuan per share, as well as 1.44 billion Hong Kong-listed H shares at 1.00 yuan each, according to the announcement.     The fund would reduce the company's asset liability ratio and improve its financial situation, said the company.     China Eastern Airlines shares were suspended Thursday.     Hong Kong shares dipped 0.85 percent to 12,894.94 points Thursday, while U.S. stocks fell Wednesday. The Dow Jones industrial average was down 80.05 points, or 1.09 percent, at 7,270.89. The Standard & Poor's 500 Index dropped 8.24 points, or 1.07 percent, to 764.90. The Nasdaq Composite Index dropped 16.40 points, or 1.14 percent, to 1,425.43.

BEIJING, March 22 (Xinhua) -- Chinese Vice Premier Li Keqiang said here Sunday China is confident and capable of achieving its 2009 economic targets and will strengthen cooperation with the international community to fight the global financial crisis.     Despite the financial crisis impact that increased difficulties for economic operations, "the fundamentals of Chinese economy and its good outlook in the long term have not changed," said Li at the opening of the China Development Forum 2009.     China has set an 8-percent target for annual economic expansion this year after diminishing foreign orders dented exports and slowed growth to a seven-year low of 9 percent year-on-year in 2008.     To boost domestic consumption and growth, the government will exert itself to tackle issues of immediate concern to ordinary Chinese citizens such as employment, education, health care, housing and environmental protection, said Li. Chinese Vice Premier Li Keqiang addresses the opening ceremony of the China Development Forum 2009 in Beijing, capital of China, March 22, 2009    The country will speed up the building of a social security system covering both urban and rural residents and gradually perfect the social safety net that guarantees people's basic livelihood, he said. "This helps adjust income distribution and raise people's spending capabilities."     In addition, Li pledged stronger moves in reforming pricing, taxation and financial mechanisms to remove "institutional barriers" on the way of development.     Reform plans must be well-implemented, said Li. They included an 850 billion-yuan (124 billion U.S. dollars) medical reform plan and a comprehensive value-added tax (VAT) reform to cut enterprise and individual burdens by approximately 500 billion yuan this year.     Li also promised to maintain a stable scale of foreign trade and use of foreign capital, saying China will further open up and make use of markets and resources both at home and abroad.     China's foreign direct investment fell for the fifth consecutive month in February to 5.83 billion U.S. dollars, down 15.81 percent year-on-year. Its foreign trade was 124.95 billion U.S. dollars last month, down 24.9 percent year-on-year.     "While managing its own affairs well, China is willing to join hands with other countries and play an active role in international cooperation against the financial crisis," said Li.     The continuous growth of China's economy not only concerns the wellbeing of 1.3 billion Chinese but is also a great contribution to the world economy, he told the forum.     He called on all countries to take actions together to promote future growth of the world economy, saying the crisis should bring about "profound thinking about the world economic development and the human kind's future destiny".     People of insight in all countries should dig the deep roots of the global financial crisis and explore effective ways of preventing the crisis from spreading and avoiding a replay of such crises, said Li.     The China Development Forum 2009 runs in Beijing from Saturday to Monday with the theme of China's Development and Reform in the Global Financial Crisis.

BEIJING, Feb. 23 (Xinhua) -- Chinese Vice President Xi Jinping's just-concluded Latin American and European tour has strengthened bilateral ties, broadened consensus and boosted cooperation with these countries, a senior Chinese official said Monday.     Xi's two-week trip to Mexico, Jamaica, Colombia, Venezuela, Brazil and Malta, as well as Fiji, where he made a transit stop, was pragmatic and fruitful, said Chinese Vice Foreign Minister Li Jinzhang.     SIGNIFICANT VISIT WITH FAR-REACHING IMPACT     Xi's visit to Latin America was a major Chinese diplomatic move since President Hu Jintao's trip to the region last year, said Li.     Last November, Hu traveled to Latin America for a visit that produced a broad consensus on forming a partnership of all-round cooperation with the region on the basis of equality, mutual benefit and common development. Earlier, China issued its first policy paper on Latin America and the Caribbean.     During his visit to the five Latin American nations, Xi further clarified China's policies on Latin America and stressed that China is ready to join hands with Latin American nations to further enhance cooperation and elevate China-Latin America relations to a new high, Li said.     In a speech at a seminar attended by Chinese and Venezuelan entrepreneurs, Xi raised a five-point proposal on strengthening the all-round cooperation for common development between China and Latin American nations amid the current global economic landscape.     Li described Xi's visit to Latin America as a follow-up action to push forward China's relations with the region.     The Chinese vice president's visit came before the Group of 20 summit scheduled for April in London to address the ongoing global financial crisis, Li noted.     During the trip, Xi called for a long-term perspective in planning and confidence building and urged a combination of promoting bilateral cooperation and ensuring the steady and sustained growth of China's economy. As a result, the visit has yielded remarkable results and a far-reaching political impact, Linoted.     Xi's visit highlighted China's efforts to work with these countries to tackle the financial downturn and turn the crisis into an opportunity, Li said.     Xi's trip brought him to mostly developing countries. During his visit, Xi stressed the need for developing countries to work together in tiding over the financial crisis, he said.     Xi and leaders of these countries reached broad consensus on joint efforts to achieve the UN Millennium Development Goals, tackle the challenges and seek common development, he added.     During Xi's visit, the governments and enterprises from these countries voiced their willingness to cooperate with China and welcomed China to trade with and invest in their countries and join them in exploitation of energy and natural resources and infrastructure construction. 　　VISIT TO GET ACROSS CHINA'S POLICIES ON KEY ISSUES     Xi's visit spanned three continents and two oceans. In every stop, Xi explained China's positions on key issues such as the international situation, the financial crisis, the upcoming G20 summit in London, the Doha round of trade talks as well as UN reforms.     He had in-depth exchanges of views with leaders of the host countries on enhancing cooperation and jointly tiding over the economic difficulties.     Leaders of the seven countries spoke highly of China's role in stabilizing the global economic and financial situation and promoting world peace and development.     Mexican and Brazilian leaders expressed readiness to beef up cooperation with China in international organizations and multilateral mechanisms and work together for a more fair and rational new international order, deal with financial crisis and win a greater say for the developing countries.     Colombian and Jamaican leaders appreciated China's contributions to stabilizing the world economy, saying the steady and relatively fast growth of China's economy will help other countries overcome financial crisis at an early date.     Xi also reiterated China's stance on the Taiwan and Tibet issues. The host countries all reaffirmed their adherence to the one-China policy.     The Chinese vice president welcomed the countries to participate in the Shanghai World Expo in 2010 and was given favorable responses by all. 　　FRUITFUL VISIT PACKED WITH SUBSTANTIAL ACTIVITIES     During his tour, Xi attended nearly 80 meetings, seminars, and other activities and held talks with leaders of the seven countries, exchanging views with them on bilateral ties as well as major international and regional issues of common concern.     He also witnessed the signing of over 60 cooperation documents in economy, finance, energy and mining, agriculture, infrastructure, high-tech and culture.     Xi held wide-ranging contacts with leaders of parliaments, political parties, regional leaders, and people from the media and academic communities.     Xi unveiled the first Confucius Institute in the Caribbean region, and broke ground for the Montego Bay Convention Center, a cooperation project by China and Jamaica.     Xi's visit uplifted China's relations with the seven countries, expanded their political mutual trust and strategic consensus, and deepened pragmatic cooperation, Li said. 　　BROAD PROSPECTS FOR FURTHER COOPERATION     Under the new consensus reached during Xi's visit, China and these countries will strengthen cooperation in trade, finance, energy and mining, agriculture, infrastructure construction, high-tech and culture.     The consensus laid a solid foundation for China and these countries to draw on each other's strength and achieve mutual benefit and win-win progress, Li said.     China and these countries are geographically far apart and have different social and cultural traditions, but their people have expressed an earnest wish to enhance friendship. Xi's visit served to push bilateral ties further forward, Li added.

BEIJING, April 10 (Xinhua) -- China unveiled Friday an investment guide book to help domestic firms make foreign investments.     The first batch of the guide book released Friday by the Ministry of Commerce covers 20 countries, such as Pakistan, Thailand, Malaysia and Japan.     The guide book includes investment laws and regulations of the 20 countries and statistics about individual countries among other useful information such as advice on problems that firms may encounter.     The ministry said it would unveil more of the guide book to cover as many as 160 countries and regions by the end of June, and it would update the guideline.     "It can be a good time now for Chinese firms to invest overseas," said Li Ruogu, president of the Export-Import Bank of China (China Exim), "as banks have been instructed to support overseas mergers and acquisitions of Chinese firms."     He said Chinese firms should increase their investment in developing countries such as Mongolia and those in Africa, Southeast Asia and Latin America.     Li said such investment could be mutually beneficial for China and investment-receiving countries.     He said investment-receiving countries could expect a boost to the economy with the combination of China's capital and local resources.     Large overseas investment and aid programs of Chinese firms may also boost imports from China and create more employment for Chinese labor, therefore contribute to China's economic growth as well, he added.     He argued that such investment of domestic firms could be supplementary to the country's other plans to stimulate the economy.     China announced a four-trillion-yuan stimulus package aimed at expanding domestic consumption after the financial crisis slashed overseas demand, in a bid to shift its heavy reliance on exports.     Keen to contain the falling exports, the government had also taken various measures, including raising export rebates six times since August last year, to save the failing sector. Figures released Friday showed China's exports continued to fall in March, for the fifth month in a row, but at a slower pace.     Li said encouraging domestic firms to invest overseas could be another option, when the financial crisis is yet to bottom out and it will take some time before domestic demand could take off.     "It's definitely the right choice to rely more on domestic consumption for growth in a country with a 1.3 billion population, which has great market potential," he said, adding that heavy reliance would be unsustainable.     The World Trade Organization has predicted a 9-percent decline in global trade this year, the sharpest drop since World War II.     "But there is a long way to go before domestic consumption will be able to fuel economic growth."     "The country's overall purchasing capacity is not powerful enough yet," he said. China's per capita income of urban residents stood at 15,781 yuan (2,321 U.S. dollars) in 2008, with that of the rural population at 4,761 yuan.