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HONG KONG, May 18 (Xinhua) -- China will definitely be able to meet the target of achieving eight percent economic growth in 2009, a senior official of the country's top economic planning body said here Monday.     "Judging from the indicators of the first four months, I do believe it is highly possible to achieve an eight percent growth for the full year. In fact, I believe the target will definitely be met," said Xulin, head of the Department of Fiscal and Financial Affairs of the National Development and Reform Commission.     Speaking at a briefing in Hong Kong, Xu said the basic assessment was that there has been consolidation in the recovery momentum and that the minor slowdown in April, normal as it has been when considering the past experiences, did not necessarily signal a second bottom in the ongoing economic downturn.     Economic planners have been monitoring the economy closely and are prepared to put in place additional measures in the coming months if it is necessary, Xu said.     Post-earthquake reconstruction in Sichuan province was being carried out quicker than previously planned. Small and medium enterprises were receiving financing aid from guarantee programs, Xu told local as well as foreign reporters.     The National Development and Reform Commission will approve 600 billion yuan (88 billion U.S. dollars) of corporate bonds this year as the IPO market remained cool, compared with 236 billion (35 billion U.S. dollars) for 2008, Xu said.     The debt of the Chinese government was about 20 percent of gross domestic product, compared with over 190 percent for Japan, close to 100 percent for the United States and 60 percent on average for the European economies.     The Chinese government has planned a budget deficit of 950 billion yuan (139 billion U.S. dollars) for 2009, which represented about 2.8 percent of gross domestic product.     Xu said the ample resources could sustain heavy government investment to stimulate the economy for several years although "it was not necessary. "The Chinese government will spend more resources to develop public housing programs and a pension system and to push forward the health reform, so as to increase the contribution of domestic consumption to economic growth," Xu said.     "I don't think export can still play the roles as they did in past few years in driving the Chinese economy," Xu said, adding that China, as a responsible player, would like to see a moderately stable yuan.

HELSINKI, June 26 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang on Friday outlined guidelines for boosting Sino-Finnish relations in political, economic and social fields.     Politically, top leaders and senior officials of China and Finland should continue to frequently visit each other to improve the mechanism for bilateral cooperation, said Li while meeting with Finnish President Tarja Halonen. Economically, the two countries should make good use of their respective competitive advantages which compliment each other to deepen their pragmatic cooperation in business, environment, energy and other fields, he said.     Socially, China and Finland should promote exchanges in culture, education, health, tourism and other fields to build a stronger social base for their bilateral relations, he added. Finnish President Tarja Halonen (R Front) meets with Chinese Vice Premier Li Keqiang (L Front) in Helsinki, June 25, 2009    Li also called for enhanced communications and consultations between the two countries in international affairs.     On China-EU relations, Li said that China has always been committed to developing a comprehensive strategic partnership with EU and Sino-EU relationship was of strategic importance in China's foreign policy.     Both China and EU should cherish the hard-earned good relationship between the two sides, make dialogue and cooperation as its cornerstone, base it on mutual respect and equality, and maintain the principle of seeking common ground while reserving differences.     Li said China appreciates the efforts Finland has made to promote the healthy development in China-EU relations and hopes Finland will continue to play a constructive role in enhancing the political mutual trust between China and EU and pushing for closer China-EU cooperation.     For her part, Halonen said that both Finland and China value their relationship, adding that communication and cooperation in political, economic, cultural, educational and social fields have been going on smoothly, which has a positive impact on bilateral relations.     Finland has attached great importance to its relations with China and is willing to be a positive force in shaping EU-China relationship, she told Li.     She also said that the Finnish government and companies would actively participate in the 2010 World Expo to be held in Shanghai, China.     The Finnish president extended an invitation through Li to her Chinese counterpart Hu Jintao for visiting Finland when the Chinese top leader feels convenient.     Li arrived in Helsinki on Thursday for a three-day official visit to the northern European nation.

URUMQI, July 18 (Xinhua) -- Nearly two weeks after the July 5 riot in Urumqi of northwest China's Xinjiang Uygur Autonomous Region, social order and people's lives are returning to normal. Yet in retrospect, a mass of evidences show that the unrest was a well-planned violent criminal incident of terrorist nature.     FEINT BEFORE VIOLENCE     Investigations by reporters reveal a salient feature of the riot, that is the perpetrators adopted the tactic of mass rally and making trouble in the open, which attracted people's attention and police force, while committing beating, smashing, robbery and arsons in other places.     At about 6:00 p.m. July 5, some persons gathered in the People's Square, continuously making phone calls and sending text messages. Some people were shouting slogans to attract passersby. The crowd grew larger and larger.     According to the local police department, about 1,500 policemen were sent to the place to maintain order and disperse the crowd.     At about 8:00 p.m., the police were told that a group of thugs were beating innocent people, smashing cars and buses, and burning police cars at Er Dao Qiao in a southern area of the city.     Xinhua reporters at the area spotted the body of a victim under a bridge, people fleeing in all directions, shops closing, mobsters smashing and setting fire as they walked along, more and more shops, automobiles and public facilities got destroyed and people got hurt.     At the same time, people gathered in the People's Square began to walk to the south.     According to two officials from the local committee of ethnics and religions who walked after these people, at the Longquan Street intersection, someone jumped out of the crowd and began to instigate people to join and follow them. The Longquan Street is a major passage leading to the Er Dao Qiao area.     At about 8:40 p.m., the crowd reached the Tianchi Road - close to the Er Dao Qiao area -- and were joined by about 200 people with clubs.     The two officials said that as fewer than 20 policemen lined up across the street to stop the crowd, someone in the crowd commanded the crowd to dash through the police line. A policeman was beat down and the crowd continued to move south with more violent behaviors.     According to the policemen who were at the scene, the crowd walked as long as several kilometers and more people joined in when the violent situation was worsening.     SUDDEN ERUPTION ALL OVER     According to the local public security department, at about 9:00 p.m., the department received reports that thugs were making violence in more than 50 places in the city, attacking passersby, cars, shops, resident buildings, police and government offices.     The city's first aid center said they received numerous SOS calls starting from 8:23 p.m., resulting in the breakdown of the telephone switching system.     According to the center, from the night of July 5 to the next morning, it sent out ambulances for 737 times to give medical support to about 900 injured people.     A young woman told Xinhua that she was in a bus when the thugs started the violence. "There were also thugs in the bus. It was like they colluded over the whole thing and just waited in the bus for the time to come."     The girl said that she was beat "powerfully" in the head while trying to get off the bus after the driver opened the door. She was later sent to hospital for treatment.     "If there were no plan or organizing in advance, how could so many people appear in more than 50 places at the same time with the same violent behaviors?" an expert on public security told Xinhua.

HONG KONG, July 4 (Xinhua) -- The Bank of China (Hong Kong) Limited (BOCHK), the sole Renminbi (RMB) clearing bank in Hong Kong, announced here Saturday that it will launch RMB clearing services for trade settlement starting from Monday.     BOCHK said it had singed a clearing agreement with the People's Bank of China in relation to RMB business, and will invite banks and other financial institutions participating in trade settlement to sign a new clearing and settlement agreement.     On Wednesday, the People's Bank of China and other departments on the mainland jointly announced the "Administrative Rules on Pilot Program of Renminbi Settlement of Cross-Border Trade Transactions", allowing RMB settlement of cross-border trade transactions for the first time.     "The initiation of the Pilot Program is of particular significance. It will increase the source channels and the usage of RMB funds," said He Guangbei, vice chairman and chief executive of BOCHK.     Under the Pilot Program, enterprises will also have greater flexibility in selecting the settlement currency of cross-border trade transactions as well as increasing their capability to hedge exchange risk, minimize costs, and boost the efficiency and profitability of cross-border trade transactions, he said.     BOCHK, as a participating bank of RMB business, will take the lead in launching a wide spectrum of RMB trade settlement and finance services for its corporate customers to conduct RMB- denominated trade transactions such as remittances, collections and L/C services between Hong Kong and Shanghai, Shenzhen, Guangzhou, Dongguan and Zhuhai, said the vice chairman.

BEIJING, May 22 (Xinhua) -- Twenty-nine large and medium-sized Chinese steel producers reported 5.18 billion yuan (762.46 million U.S. dollars) in aggregate losses in the first four months, the China Iron and Steel Association (CISA) said here Friday.     The 29 producers were among 72 surveyed by CISA, the association's vice chairman, Luo Bingsheng, said.     The 72 companies reported 575.59 billion yuan in revenue, down 18.9 percent year on year, Luo said. They paid 15.42 billion yuan in taxes, down 85.07 percent year on year, Luo said.     Losses were mainly caused by slumping domestic steel prices, Luo said.     Many producers have cut costs, and the production cost of steel dropped 13.75 percent in the first quarter, Luo said.