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LIMA, Nov. 21 (Xinhua) -- Chinese President Hu Jintao on Friday gave a brief outline of the country's future development to the business community of the Asia-Pacific Economic Cooperation (APEC).     Addressing the APEC Chief Executive Officers (CEO) Summit, Hu said China will continue to follow the Scientific Outlook on Development by putting people first and making development comprehensive, balanced and sustainable.     "We will unswervingly pursue reform, improve the socialist market economy and build systems and institutions that are dynamic, efficient, more open and conducive to scientific development," Hu said.     China will follow a new path of industrialization with Chinese characteristics and transform the mode of economic growth, he said. Chinese President Hu Jintao addresses Peruvian Congress in Lima, capital of Peru, Nov. 20, 2008. Hu said here Thursday that China is willing to make concerted efforts with Latin American countries to establish a comprehensive cooperative partnership of equality, mutual benefit and common development    Instead of relying heavily on higher consumption of resources, China will achieve development by making scientific and technological progress, improving the quality of the workforce and developing innovative management, he added.     Since the beginning of this year, China has taken robust measures to address the complex changes in the international economic environment and the severe challenges of major natural disasters.     "We have strengthened macroeconomic regulation in a timely way," Hu said, adding "The fundamentals of the Chinese economy have not changed."     "The steady and relatively faster economic development in China is in itself a major contribution to upholding international financial stability and promoting world economic development," he emphasized.     Between January and September this year, China's gross domestic product grew by 9.9 percent and the three major demands of investment, consumption and export all grew by over 20 percent.     However, since September, with the spread and development of the financial crisis, difficulties confronting China's economic development have become more and more obvious, Hu said.     The growth rate of China's export has begun to decline and industrial production and corporate profits have been adversely affected to varying degrees, he added.     "In view of this and in order to boost economic development, the Chinese government has strengthened macroeconomic regulation in a timely way and decided to follow a proactive fiscal policy and a moderately easy monetary policy," the president said.     China has lowered the required reserve ratio, cut the deposit and lending rates and eased the corporate tax burdens, he added.     China has recently adopted even stronger measures to generate greater domestic demand, Hu said.     He said the central government has decided to invest an additional 100 billion yuan (14.6 billion U.S. dollars) this year to accelerate projects related to people's livelihood, infrastructure, the eco-environment and post-disaster reconstruction.     This is expected to generate a total of 400 billion yuan (58.4 billion dollars) of investment nationwide, he pointed out, adding between the fourth quarter this year and the end of 2010, investment in these projects alone will reach nearly 4 trillion yuan (584 billion dollars).     Implementation of these measures will give a strong impetus to China's economic development, Hu said.     Hu arrived here on Wednesday for a state visit to Peru and the Economic Leaders' Informal Meeting of APEC scheduled for Nov. 22-23.

BEIJING, Nov. 5 (Xinhua) -- Agreements on direct flights and shipping, signed on Tuesday in Taipei, are drawing strong interest from airlines and shipping companies from the mainland and Taiwan.     "Regular charter flights, instead of flights only weekends and festivals, were our long-term expectations," said Liu Shaoyong, the general manager of mainland-based China Southern Airlines. "Direct air routes are very good for our business."     A flight from the mainland to Taiwan via Hong Kong under the current arrangement takes two hours and 42 minutes and burns 16 tonnes of fuel. Under the new arrangement, flights will take 69 minutes and burn 7.3 tonnes of fuel.     "Less travel time and expense benefits both passengers and airlines," Liu said.     Wei Hsing-Hsiung, chairman of the board of Taiwan-based China Airlines, was glad to see the number of passenger charter flights increase from 36 on weekends to 108 a week.     "We have profits of about 1.5 million U.S. dollars from weekend charter flights. The figure is likely to reach 5 million dollars due to more flights, while the cost might fall by 20 percent as the route is shorter," he said.     The new agreement only opened one direct air route, between Shanghai and Taipei. Xiamen, the coastal city in southeastern Fujian Province directly opposite to Taiwan, was not included. Mainland's Association for Relations Across the Taiwan Straits (ARATS) President Chen Yunlin(R) and Taiwan-based Straits Exchange Foundation (SEF) Chairman Chiang Pin-kung attend the symposia on industry and shipping in Taipei, southeast China's Taiwan Province, Nov. 5, 2008. They attended two symposia, one on industry and shipping and the other on finance, that were held against the backdrop of international financial crisis and struggling world economy in Taipei on Wednesday"We are expecting more air routes," said Yang Guanghua, general manager of Xiamen Airlines.     The flight distance between Xiamen and Taipei will be one third shorter than at present and the flying time will be about half, he said.     The two sides said in the agreement that they are going to negotiate another route linking the southern part of Taiwan with the mainland.     To cope with increasing flights, Yang's company plans to use 10more passenger planes next year, he said.     Taiwan's senior economic official Shih Yen-shiang told the local daily China Times on Wednesday that he estimated every direct trip across the Strait could save companies 300,000 New Taiwan dollars (about 9,000 U.S. dollars).     "Based on 4,000 trips a year, 1.2 billion dollars will be saved," he said.     Under the new agreement, the mainland and Taiwan will exempt each other's shipping firms from business and income taxes.     For the container divisions of Taiwan's three leading shipping lines -- Evergreen Marine, Wan Hai Lines and Yang Ming Group -- 60percent could be related to the mainland. Tax cuts will save each 2 to 3 billion NT dollars, another local newspaper, the Commercial Times, said.     Ningbo of eastern Zhejiang Province was one of the 63 ports that the mainland opened to Taiwan ships.     "The most direct effect will be increasing cargo volume," said Tong Mengda, chief economist of Ningbo Port Holding. "The voyage to Taiwan has been cut from 25 hours to ten. This is good for both shipping companies and ports."

BEIJING, Jan. 19 -- Air China Ltd, the nation's largest international carrier, expects to report its first annual loss in at least eight years on waning travel demand and wrong-way bets on fuel prices.     The carrier made paper losses of 6.8 billion yuan (994.5 million U.S. dollars) on fuel-hedging in 2008, it said on Friday in a Hong Kong stock exchange statement. The airline made a 3.88-billion-yuan annual profit in 2007.     Air China joins China Southern Airlines Co and China Eastern Airlines Corp in forecasting a 2008 loss after the nation's cooling economy damped business and leisure travel. The Beijing-based carrier also reported hedging losses after jet-fuel prices tumbled 70 percent in less than six months.     "Air China is more exposed to the global crisis" than China Southern and China Eastern, said Li Jun, an Everbright Securities Co analyst in Shanghai. "As such, most of its advantages turned into disadvantages last year."     The carrier has been profitable since at least 2000, data complied by Bloomberg News showed, helped by having a wider overseas network than domestic rivals.     "The aviation market experienced a general shrinking demand in 2008 and traffic revenue was significantly lower than expected," the Beijing-based company said in the statement. The hedging contracts "will have a considerable effect on the financial results for the year."     The airline is also able to hedge a greater proportion of its fuel needs than rivals, as Chinese carriers are barred from hedging purchases of fuels for domestic flights. That has previously enabled Air China to limit the effect of increasing fuel prices.     The airline's passenger numbers fell 1.7 percent in 2008 to 34.2 million, the first decline in five years. Its cargo and mail volume dropped 3.8 percent to 898,962 tons.     The shares have dived 80 percent in the past year and closed 3.9 percent higher at 1.88 Hong Kong dollars (24 U.S. cents) a share on Friday in Hong Kong trading.

BERLIN, Jan. 29 (Xinhua) -- China and Germany have vowed to make joint efforts to stabilize the global economy amid the ongoing financial and economic crisis, said a joint statement issued Thursday.     The cooperation between China and Germany, the world's two major export-driven economies, is of special significance for the world's efforts to tackle the financial downturn, said the statement released after visiting Chinese Premier Wen Jiabao's meeting with German Chancellor Angela Merkel.     The two sides agreed to strengthen dialogue on economic and trade, currency and fiscal policies and pledged to support each other on their economic stimulus plans based on their own situations, it said.     China and Germany have agreed to enhance their comprehensive strategic partnership and cooperation in jointly dealing with the global economic crisis, Wen told a press conference following his meeting with Merkel.     The strengthened Sino-German cooperation is of special significance in the context of the current world economic downturn, said Wen. Chinese Premier Wen Jiabao addresses the Fifth Chinese-German Forum for Economic and Technological Cooperation in Berlin, Jan. 29, 2009The two nations should strengthen cooperation in various fields and press ahead with their comprehensive strategic partnership, which bears global responsibility amid an ailing global economy, the Chinese premier added.     Echoing Wen's remarks on bilateral cooperation, Merkel said his visit has further promoted German-Chinese cooperation in such fields as politics, economy and culture.     Germany is ready to promote bilateral cooperation in improving energy efficiency, environmental protection and intellectual property protection, she said.     Merkel also called on the two nations to further enhance bilateral trade and economic relations despite the harsh economic environment.     According to the joint statement, both nations will also seek to broaden their cooperation and inject new impulse into the economic growth, especially on such fields as climate change, infrastructure construction, transportation and logistics, financial services, and information technology, it noted.     The two nations will continue to strengthen cooperation, especially in the sector of the innovative technology through such mechanism as the China-Germany joint commission for economic cooperation and the Sino-German economic and technical cooperation forum, it said.     Meanwhile, the two nations also agreed to encourage bilateral cooperation between small and medium-sized enterprises (SMEs) pledging to introduce supportive measures for SMEs activities in investment, financing, taxing and trade, it added.     The two sides also stressed the importance of curbing trade protectionism, saying they will oppose trade and investment protectionism in whatever forms.     They also pledged to implement the consensus reached in the G20 Washington Summit in efforts to push forward the reform of global financial system.     At a forum on Sino-German economic and technical cooperation on Thursday, Wen proposed that in addition to trade in goods, the two sides should expand cooperation in such service sectors as banking, insurance, telecommunications, logistics.     European enterprises can absolutely increase their exports of advanced technical equipment, which would overcome the difficulties they are facing currently, but also meet the demand from the Chinese market, said Wen.     The Chinese government welcomes German enterprises to play a more active role in promoting technical innovation, upgrading industrial structure, and fostering development coordination in various regions in China.     Chinese companies are also encouraged to build manufacturing bases, marketing network, and research institutions, said the premier.     Also on Thursday, China and Germany signed six deals, including a memorandum of understanding on the transfer from Germany of parts of the core technologies for the maglev railway projects in China.     Other agreements cover cooperation in climate protection, the car industry, construction of Chinese ecological city Xuzhou, and exchanges between the museums of the two countries.     Germany is the second leg of Wen's European tour after Switzerland, where he attended the annual meeting of the World Economic Forum (WEF). The week-long trip will also take him to the European Union headquarters in Brussels, Spain and Britain.

BEIJING, Oct. 24 (Xinhua) -- The Asia-Europe Meeting (ASEM) summit concluded its first closed session here Friday evening, with the global financial crisis topping the agenda.     Leaders and representatives of the 45 ASEM members attended the meeting which lasted two hours.     Chinese Premier Wen Jiabao chaired the meeting and made the leading speech.     Wen called on Asian and European nations to make concerted effort in response to the global financial crisis triggered by the U.S. credit crunch, according to the Chinese Foreign Ministry.     Wen said the international financial and economic situation is an issue linked up with the direct interests of all ASEM members, and that is why the issue was listed the top subject for discussion.     "Asian and European nations are an important force to safeguard international financial stability and promote world economic growth," Wen said. "We should make concerted effort to show the world our confidence, unity and cooperation," he added.     He said relevant countries and organizations have taken measures in response to the global financial crisis, and China hopes these measures would achieve the desired results soon.     He also called for global action to jointly respond to the crisis.     The leaders present at the meeting had an "enthusiastic and in-depth" discussion on how to tackle the crisis, as well as how to promote Asia-Europe trade and investment, the Foreign Ministry said, giving no further details.     The seventh ASEM summit, scheduled for Friday and Saturday, will all together have four closed sessions.

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