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BEIJING, Dec. 9 (Xinhua) -- The Chinese government reiterated Wednesday that to spur "sustainable and fast consumer spending" will be a priority next year, as the world's third-largest economy seeks to break from dependence on export and government pump-priming to drive post-crisis growth. The government will continue to raise the earnings of the middle and low income groups to boost consumer spending, said a senior official with the nation's top economic planning body. The government will step up research on optimization the income distribution mechanism to improve residents' purchasing power, Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), made the remarks at a national meeting charting the ministry's work in 2010. The rare official stance on improving income distribution echoed the unanimous call from experts and the general public to bridge the yawning wealth gap between the rich and poor, which underlined the government's resolution to address the simmering social conflicts and the urgency to rebalance economic growth. Zhang said the government will exert more efforts to sort out problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability. In concrete, the government will raise the pensions for enterprise retirees and improve treatment for those who enjoy special care. Local education, cultural and health-care facilities will also receive greater subsidy for expansion. To revive the economic growth which lapsed to a decade low amid the global financial crisis, Chinese government unveiled a 4-trillion-yuan stimulus package, which was led by government investment, to counter falling exports, the driving force of the Chinese economy before the crisis took a toll. As a result, as the GDP growth accelerated to 8.9 percent in the third quarter, investment contributed 7.3 percentage points while consumption devoted 4 percentage points. "As the Chinese authorities have recognized that the rapid pace of recovery has exacerbated some of the economy structural imbalances, the authorities will focus on rebalancing growth, primarily by supporting consumption and private investment, with many consumer incentives to be carried out in 2010," said Jing Ulrich, managing director and chairman of China Equities and Commodities of J.P. Morgan. Also on Wednesday, the State Council, or cabinet, decided to renew the preferential policies introduced early this year to boost car and home appliance sales. "While investment growth should be managed at a reasonable pace, consumer spending should maintain sustainable and relatively fast expansion," Zhang said. As investment binge and runaway bank lending prompted fears for asset bubble, Zhang said the government will step up efforts to curb speculative property transaction, and provide more affordable housing to middle and low income families.
BEIJING, Dec. 9 (Xinhua) -- China's top legislator Wu Bangguo said Wednesday the country regards Egypt as one of the most important strategic cooperative partners among Arabian and African nations. "We attach great importance to the relations with Egypt," Wu, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, told visiting Deputy Speaker of Egyptian People's Assembly Zeinab Radwan. To promote relations between China and Egypt, both influential countries in the world, conformed to the fundamental interests of the two nations and the two peoples, and was also conducive to regional and world peace and prosperity, Wu said. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress (NPC), shakes hands with visiting Deputy Speaker of Egyptian People's Assembly Zeinab Radwan in Beijing, Dec. 9, 2009. "We are ready to work with Egypt to maintain high-level exchanges, increase friendly cooperation and strengthen coordination in international affairs," Wu said, noting that this would help achieve common development and benefit the two peoples. Wu also applauded Egypt's long-term and firm support to China on issues concerning Taiwan, Tibet and Xinjiang. Radwan was here to attend the third meeting under a regular exchange mechanism between the parliaments of China and Egypt. Hailing the role of the regular exchange mechanism, Wu said it provided the two parliaments with direct, in-depth and effective channels to communicate with each other, and had become an important platform for parliamentary exchanges. Under the active promotion of the leaders from both nations, the two parliaments set up the regular exchange mechanism in 2007. Wu hoped the two parliaments would further improve the mechanism. Echoing Wu, Radwan said the Egyptian People's Assembly would make use of the mechanism construction to advance the level of parliamentary cooperation between the two sides. As to Egypt-China ties, Radwan said the two countries in recent years had witnessed frequent high-level visits and fruitful cooperation in investment, tourism, economy and trade. Egypt valued the relations with China, and would work with the country to enhance exchanges and cooperation in various sectors. Radwan is visiting China from Dec. 4 to 10 at the invitation of the NPC Standing Committee.
BEIJING, Nov. 17 (Xinhua) -- China and the United States on Tuesday underlined in a joint statement their commitment to the eventual realization of a world free of nuclear weapons. They also reiterated their opposition to the proliferation of weapons of mass destruction in the statement issued after talks between Chinese President Hu Jintao and visiting U.S. President Barack Obama. The two sides will jointly uphold the international nuclear non-proliferation regime, and agreed to enhance non-proliferation cooperation on the basis of mutual respect and equality, the statement said. They promised to work together for a successful Review Conference of Parties to the Treaty on the Non-Proliferation of Nuclear Weapons in 2010, and committed to pursue ratification of the Comprehensive Nuclear-Test-Ban Treaty (CTBT) as soon as possible. The joint statement said the two countries stand ready to strengthen communication and cooperation in nuclear safety and security and in combating nuclear terrorism. China attaches importance to the U.S. initiative to hold a nuclear security summit in April 2010 and will actively participate in the preparations for the summit, according to the joint statement.
HARBIN, Jan. 2 (Xinhua) -- Chinese Premier Wen Jiabao conveyed new year greetings to workers, farmers, local residents and officials during his visit to northeastern Heilongjiang Province on the first two days of the year. Braving the freezing weather, Wen visited the cities of Daqing and Qiqihar in Heilongjiang. It was Wen's third visit to Daqing since 2003. At Daqing oilfield, he said Daqing people had not only produced two billion tonnes of oil for the country, but also the invincible Daqing spirit which was kept well over the past five decades. Chinese Premier Wen Jiabao (C) tries a machine with local oil workers at Daqing Oil Field in Daqing, northeast China's Heilongjiang Province, Jan. 1, 2010 "Nowadays, we still need such spirit to cope with the international financial crisis," Wen said. The premier then had lunch with workers and visited their dormitory. He also inspected an industry park of service outsourcing in the city, which is looking for new points of growth in addition to exploitation of resources. Wen encouraged the city to develop high-tech industry, agricultural products processing, service outsourcing and cultural industries. While visiting a residential community, Wen said he paid great attention to people's livelihood, including housing, social securities and workers' income rise. "While handling the international financial crisis, people's livelihood should be stressed," Wen said. Chinese Premier Wen Jiabao (C) talks with local elders at a residential community in Daqing, northeast China's Heilongjiang Province, Jan. 1, 2010At a villager's home, Wen told locals that the government would increase the minimum purchase price of rice again this year. He said that to narrow the urban and rural income gap, efforts should be made to improve rural migrant workers' conditions and lift farmers' living standard. In a residential area converted from a shanty town, which now houses 1,470 families, Wen told a retired worker named Wang Decai that if the country's financial strength was strong enough, retirees' pension would continue to be increased. He told workers of a machine tool factory in Qiqihar, which makes homegrown plane parts, that efforts should be made to improve innovation capability so as to make breakthrough on key technologies. Chinese Premier Wen Jiabao plays table tennis with local residents at a community in Daqing, northeast China's Heilongjiang Province, Jan. 1, 2010
SHANGHAI, Nov. 16 (Xinhua) -- United States President Barack Obama is to meet with Shanghai Party chief Yu Zhengsheng on Monday and have a dialogue with Chinese youths afterwards before heading for Beijing in the afternoon. A girl presents a bouquet to U.S. President Barack Obama after he arrives at Shanghai Pudong International Airport on Nov. 15, 2009Obama arrived in Shanghai Sunday night to start his four-day state visit to China, his first trip to the country since taking office in January. The China visit is one leg of Obama's Asian tour, including state visits to Japan and the Republic of Korea and attending a summit of the Asia-Pacific Economic Cooperation (APEC).