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SEOUL, Nov. 12 (Xinhua) -- Chinese President Hu Jintao called for concerted efforts to realize strong, sustainable and balanced growth of the world economy at the Group of 20 (G-20) summit here on Friday.Delivering a speech entitled "Build on Achievements and Promote Development" at the summit, he presented a four-point proposal for the major economies to jointly promote global economic recovery and growth.FOUR-POINT PROPOSAL FOR GLOBAL ECONOMIC GROWTHChinese President Hu Jintao attends the inauguration of the Group of 20 (G20) Summit in Seoul, capital of South Korea, Nov. 12, 2010.Hu said the world economy was slowly recovering thanks to the concerted efforts of the G-20 and the entire international community, but total demand remained insufficient in the absence of new sources of growth"Countries differ in policy objectives, making macroeconomic policy coordination even more difficult and global recovery even more fragile and uneven," he said.The Chinese leader had been promoting cooperation and coordination since he arrived in Seoul for the summit on Thursday morning."We must adopt an attitude responsible to history and the future, bear in mind the common interests of mankind, build on what we have already achieved and continue to work in concert for strong, sustainable and balanced growth of the world economy," Hu said.The first point of Hu's proposal at the summit was that the world community should improve the framework for strong, sustainable and balanced growth and promote cooperative development."Strong, sustainable and balanced economic growth is of great significance to the whole world," he said."We should stick to the country-led principle, take into full account the different national circumstances and development stages of various members, and appreciate and respect each country's independent choice of development path and policies," he added.The second point was that the world community should champion open trade and promote coordinated development."We must be firmly committed to free trade, to the consensus reached at previous G-20 summits, and to the effort of opposing all forms of protectionism and removing existing trade protectionist measures," he said.The Chinese president also called on the world community to reform the financial system and promote stable development."We should continue to push for fair and merit-based selection of the management of international financial institutions, and enable more people from developing countries to take up mid-level and senior management positions," he said.The last point of Hu's proposal was that the world community should narrow the development gap and promote balanced development.@ "We must endeavor to build a new and more equal and balanced global partnership and encourage developed and developing countries to have more mutual understanding and closer coordination rather than follow the old path of trading accusations and public confrontation," he said.
BEIJING, Jan. 18 (Xinhua) -- China will continue rare earth export and regulate export quotas according to World Trade Organization rules, said the Ministry of Commerce on Tuesday.China announced its first batch of 2011 rare earth export quotas at 14,446 tonnes at the end of 2010.The full-year quotas are under discussion and will be announced timely, said Yao Jian, a spokesman with the ministry, at a news briefing here.The country exported 35,000 tonnes of rare earth from January to November in 2010, up 14.5 percent from a year earlier. Exports to Japan, the European Union and the United States accounted for 86 percent of the total exports, said Yao.He said that it is normal that rare earth prices fluctuate with demand and supply and China acted responsibly last year to ensure basic demand for the minerals was met.China has noticed that other countries, such as the U.S. and Australia, have increased exploitation of rare earth in their own countries. "This will effectively safeguard the global supply," said Yao.With around 36 percent of the world's rare earth reserves, China supplies 90 percent of global demand.

BEIJING, Dec. 22 (Xinhua) -- China unveiled a new asset-management company that aims to restructure and merge small, uncompetitive state-owned enterprises (SOEs) on Wednesday.The new firm, China Reform Holdings Corporation Ltd., will focus on "reorganizing small-sized SOEs which do not affect national security and are not crucial to the national economy," the State-owned Assets Supervision and Administration Commission (SASAC), the SOE watchdog, said in a statement.The first-phase registered capital of the new company, which is wholly owned by SASAC, is 4.5 billion yuan (681 million U.S. dollars). SASAC has not yet revealed which companies will be involved in the reshuffling.Xie Qihua, former chairman of the Baosteel Group Corporation, China's largest steel maker, has been appointed board chairman of the new company.Liu Dongsheng, an SASAC official, will act as general manager, it said."The launch of the new company marks an important move to optimize the relocation of state economic resources and to give state capital more vitality, control and impact on key sectors," Wang Yong, deputy director of SASAC, said at the launching ceremony.He noted because the assets of the reshuffled companies took up a considerable amount of the entire state assets, the restructuring plays an active role in improving asset quality.According to SASAC' s plan, the company will participate in the share-holding reform of the reshuffled enterprises, and will also invest in emerging industries with strategic importance.Also at the launching ceremony, Wang stressed that the company is an asset management company rather than an investment group, ending rumors that it will become China's second sovereign fund after the China Investment Corporation (CIC).He noted the new company's mission is explorative and challenging, which needs to deal with it in a proactive and cautious way.In order to enhance the state company's efficiency and competitiveness, SASAC cut the number of SOEs under its direct control from 196 to 122 over the last seven years. They are expected to be further consolidated into around 100 by the end of 2010, according to SASAC plans.However, SASAC officials said it remains difficult to meet the target in time."It takes time to meet the goal," said Shao Ning, deputy director of SASAC. He added that the restructuring should take place when the time is right, and should give priority to "quality" and "good results" to ensure stability of the enterprises.In order to help the uncompetitive companies withdraw from the market in a stable manner, SASAC promised to offer support for the employers in those companies.Zhou Fangsheng, an expert on SOE issues, said it is good news for the uncompetitive SOEs to be merged into the new company with their debt relieved.But it is still quite explorative, he added.The new company is the third oversight asset management company by SASAC, besides the China Chengtong Group and the State Development & Investment Corp.Shao Ning told Xinhua that the previous two companies have their own business scope, besides dealing with non-performing assets. But the new company will only focus on asset management.Profits of China' s SOEs rose by 43 percent year on year to hit 1.81 trillion yuan (271.92 billion U.S. dollars) in the first 11 months, according to the figures released by the Ministry of Finance on Dec. 17.However, profits were concentrated in a small number of companies, such as oil producers and refiners, telecom operators and power companies which enjoy monopolies and easy bank loans.Companies in the traditional sectors, such as textiles and light industries, reported meager profits.A stronger presence of the monopolistic SOEs aroused complaints by the nation's private businesses, which had no easy access to bank credit but provided more than 80 percent of the job opportunities in the nation.China's SOEs include SOEs directly controlled by the central government and SOEs supervised by local governments, but excludes state-owned financial enterprises.
HONG KONG, Dec. 4 (Xinhua) -- Hong Kong Chief Executive Donald Tsang said on Saturday the government will not slack off in its fight against drugs, despite a 20 percent drop in the number of drug abusers aged below 21 in the first half of this year.Speaking at the 2010 Fight Crime Conference, Tsang said both the government and the community attach great importance to drug problems.Although the government's efforts in beating drugs have started to deliver results, it will not slack off and will continue to allocate money to anti-drug programs, he said.Praising law-enforcement officers' professionalism in maintaining law and order in Hong Kong, Tsang said the city's crime rate continued to stay at a low level.According to Chief Secretary Henry Tang, Hong Kong's crime situation for the year's first 10 months remained stable, with overall crime dropping 3.2 percent.
来源:资阳报