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BEIJING, Oct. 15 (Xinhua) -- China and Pakistan on Wednesday signed more than 10 deals ranging from trade and minerals to agriculture and satellites.     The package of agreements came out of a two-hour summit at Beijing's Great Hall of the People as China rolled out the red carpet for Pakistan President Asif Ali Zardari, who is on his first state visit to the country since taking office in September. Zardari was welcomed by President Hu Jintao and received a 21-gun military salute at the Tian'anmen Square, festooned with the national flags of China and Pakistan.     During the meeting, Hu reviewed the close bilateral ties, particularly the days of the Bhutto family.     "Your entire family are old friends of the Chinese people," Hu told Zardari. "We will never forget the outstanding contribution Benazir Bhutto and Zulfikar Ali Bhutto had made to boosting ties with China." Visiting Pakistan President Asif Ali Zardari (R) reviews the honour guard with his Chinese counterpart Hu Jintao during the welcoming ceremony held by Hu Jintao at the Tian'anmen Square, in Beijing, China, on Oct. 15, 2008. Asif Ali Zardari arrived here on Wednesday for his first state visit to China since taking office in September.    Zardari's late wife, Benazir Bhutto, was assassinated in December 2007, and her late father, Zulfikar Ali Bhutto, had also served as Pakistan president.     While reviewing the 57-year-old diplomatic ties, Hu attributed its sound and smooth growth to the leadership of the two nations, among others.     He said China had always given priority to its relation with Pakistan, an important neighbor and strategic partner.     Zardari said he was grateful for "the warm welcome that you have shown us and the love and affection that I can feel from across the aisle."     "The only way I could do justice to the memory of my late wife and father-in-law was to make sure that I made my first presidential trip to China," the 53-year-old said.     "I am hoping to assist the Pakistan-China relationship and take it further along. It's a duty history has bestowed upon me."     On the economic front, Hu said the two countries were enjoying robust cooperation in economy and trade. They should continue to implement their free-trade pact, five-year trade program and other joint deals.     He also proposed the two nations create new areas and explore new ways of cooperation. "China and Pakistan should vigorously boost border trade so as to bring more substantive benefits to their citizens."     Zardari said the two should carry out big projects and work more closely in infrastructure, transport, environmental protection and finance, among others.     The two leaders agreed to step up people-to-people exchanges and cooperation in culture, education, health and journalism.     Hu thanked Pakistan for its support on issues concerning Taiwan and Tibet. He also appreciated Pakistani efforts in backing Beijing's hosting of the Olympic Games.     Zardari reaffirmed Pakistan's adherence to the one-China policy and support of China's peaceful reunification,     They also agreed on enhancing coordination and collaboration on international and regional issues, cooperating on addressing global challenges and ensuring peace, stability and development in the world.     As part of his four-day trip, Zardari is also scheduled to meet with other Chinese leaders, including top legislator Wu Bangguo, Premier Wen Jiabao and top advisor Jia Qinglin on Thursday.

BEIJING, Jan. 7 (Xinhua) -- Chinese Vice Premier Li Keqiang urged more efficient and transparent use of government funds as the country faces rising fiscal expenditures while tackling the global financial crisis.     China should strengthen management and scrutiny of the fiscal budget and should reduce administrative expenses as the country faces relatively high fiscal pressure, Li said at a national fiscal conference on Tuesday.     The government must "firmly oppose extravagance and waste", he said.     China will have "a difficult fiscal year" in 2009 because of lower tax revenues and surging expenditures, Finance Minister Xie Xuren said on Monday.     China's 2008 fiscal revenue is expected to rise 19 percent to exceed 6 trillion yuan (about 857 billion U.S. dollars), said Xie.     That growth was slower than the 32.4-percent annual gain made in 2007.     The country's fiscal revenue increase started to slow down in the second half of 2008, said Xie. He attributed that change to economic deceleration, corporate profit decline and tax cuts made to boost growth.     China decided to carry out an "active fiscal policy" and "a moderately easy monetary policy" in 2009. It has unveiled a four trillion-yuan fiscal package to stimulate domestic demand.

BEIJING, Oct. 23 (Xinhua) -- Strengthening relations between China and the European Union (EU) will contribute to the world peace, stability and prosperity amid complicated international situations, Chinese President Hu Jintao said here on Thursday.     The significance of Sino-EU relations has surpassed the bilateral level and is of more and more international significance, Hu said during his meeting with European Commission President Jose Manuel Durao Barroso, who is here to attend the seventh Asia-Europe Meeting (ASEM) to be held on Friday and Saturday. Chinese President Hu Jintao met on Thursday afternoon with European Commission President Jose Manuel Barroso who is in Beijing to attend the seventh Asia-Europe Meeting (ASEM) to be held on Oct. 24 to 25    Hu confirmed that China is willing to work with EU to push forward their comprehensive strategic partnership.     The president proposed to consolidate Sino-EU political base under the principle of strengthening strategic mutual trust, to promote concrete cooperation in various sectors in a reciprocal and win-win principle, and to properly tackle concerns and divergent opinions based on mutual respect and equal consultation.     Hu pledged that China is willing to reinforce communication and coordination with EU, jointly deal with the current financial crisis and maintain the stability of the global financial market.     Barroso said during the meeting that the current financial, grain and energy crises, as well as climate change, poverty and terrorist threat require worldwide actions.     He said EU appreciates China's responsible attitude in responding to the financial crisis and hopes to deepen cooperation with China. He said EU-Chinese relations are strategic, strong and mature.

BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30.     The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent.     This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary.     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 of last year, and half a percentage point lower than the first half.     "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang.     The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say.     Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices.     China's 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.     "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted.     Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption.     "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added.     However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important.     Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market.     China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months.     Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown.     The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.

VICTORIA, Nov.13 (Xinhua) -- The current international financial crisis will not affect China's cooperation with Seychelles, visiting Chinese top legislator Wu Bangguo said here on Thursday.     Wu, chairman of the Standing Committee of China's National People's Congress (NPC), made the remarks in his meeting with Seychellois President James Alix Michel. Wu said that China's economy will maintain its momentum of growth.     "The crisis will not affect the contracted projects between the two sides as well as prospect of their future cooperation due to the strong growth of China's economy," Wu said. Seychellois President James Alix Michel (1st L) meets with Wu Bangguo (R Front), chairman of the Standing Committee of the National People's Congress, China's top legislature, in Victoria, Nov. 13, 2008    Wu also briefed the Seychellois president on policies that the Chinese government has adopted to deal with the crisis, promising that China will continue to offer its help to Seychelles according to its own capability.     China is willing to deepen all-round cooperation and hopes to enhance inter-parliamentary exchanges with Seychelles, Wu said, calling the bilateral relationship "a living example" for big and small nations to handle their relations.     "The relations between China and Seychelles can be regarded as an living model for big and small nations," Wu said, adding that China is ready to bring forward the friendly cooperation with Seychelles on the basis of mutual respect and reciprocity.     The Seychellois president expressed his appreciation to China, noting his country could not achieve the economic development alone without China's long-term assistance.     Seychelles hopes to further boost its cooperation with China especially in such fields as infrastructure, energy, agriculture, telecommunication and tourism, the Seychellois President noted.     The president also reiterated his country's adherence to the one-China policy.     Wu arrived here after he concluded his official visit to Madagascar. Seychelles is the final leg of his five-nation African tour which has already taken him to Algeria, Gabon, Ethiopia and Madagascar.