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BEIJING, Oct. 21 (Xinhua) -- Chinese President Hu Jintao on Tuesday spoke over phone with his U.S. counterpart George W. Bush about international cooperation to cope with the ongoing global financial turmoil. The leaders exchanged ideas about the planned international financial summits and strengthening international cooperation to stabilize the financial markets. Bush said the United States hopes to make joint efforts with the international community to seek measures to overcome the crisis and maintain the stability of the world economy. Hu, for his part, said China has noted the efforts made by the U.S. government to stabilize the domestic financial market. He expressed hope that the measures would take effect as soon as possible, restore investor confidence and prevent further expansion of the crisis. The measures are conducive to the stability of the world economy and financial markets, Hu said. The Chinese government has taken a series of important measures to tackle the financial crisis and maintain the stability of financial and capital markets, as well as ensure steady economic growth, he added. The government of China will continue to assume a responsible attitude toward the Chinese people and people of other countries, and to work closely with the international community to maintain the stability of the global economy and financial markets, President Hu said.
ABOARD DESTROYER WUHAN, Jan. 12 (Xinhua) -- A Chinese mainland navel fleet on Monday began to carry out an escort mission for four merchant ships including one from Taiwan in the Gulf of Aden off Somalia. The mission is also escorting two other ships from Shanghai and one from the Philippines to protect them against pirate attacks. A Chinese navy helicopter keeps alert over a cargo ship in the waters of the Gulf of Aden on Jan. 12, 2009. At 6:00 a.m. (0300 GMT), the four ships set out in a line for a voyage of 553 sea miles (1019 km), accompanied by the destroyer Wuhan. Two groups of naval special forces were aboard the first and the last ships. Another Chinese destroyer Haikou will join the mission later in waters, where the pirates are more likely to appear. Rear-Admiral Du Jingchen, commander of the naval fleet, said safeguarding transport in the Gulf of Aden and maintaining security of ships was the common wish of all pacifists including compatriots across the Taiwan Straits. The Gulf of Aden is a key trade route linking the Indian Ocean with the Mediterranean via the Suez Canal. Chinese missile destroyer Wuhan (R) escorts a cargo ship in the waters of the Gulf of Aden on Jan. 12, 2009. The Chinese fleet started to carry out the second escort mission against pirates in the Gulf of Aden on Monday. The fleet, including the two destroyers and one supply ship, conducted its first escort mission from Jan. 6 to 8. The fleet has about 800 crew members, including 70 soldiers from the Navy's special force, and is equipped with missiles, cannons and light weapons. The London-based International Maritime Bureau said more than 100 vessels had been attacked in the Gulf in 2008 and more than 10ships are still being held for ransom.

Wu Bangguo, Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008. BEIJING, Dec. 15 (Xinhua) -- China's top legislators on Monday approved the Ministry of Finance to expend "a certain amount" of fund in advance before the central budget is reviewed and approved next spring. The chairman and vice-chairpersons of National People's Congress (NPC) Standing Committee made the decision at their meeting here Monday, said a statement issued after the meeting presided by Wu Bangguo, chairman of the NPC Standing Committee. The statement did not reveal the exact number of the fund. "In face of serious challenges from domestic and international market, the government has carefully adjusted the macroeconomic policies," the statement said. "The new moves were proved to be correct and effective." The central budget is supposed to be discussed at the NPC annual session in next March. Wu Bangguo (C), Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008. At the meeting, they also discussed the agenda of the six session of the 11th NPC Standing Committee, expected to convene from Dec. 22 to 27. Under the proposed agenda, lawmakers taking part in the session would review the draft amendments to the law on precautions against earthquake and disaster relief, the patent law, the criminal law and insurance law as well as drafts of the law on social insurance and tort liability law. The draft law on arbitration of rural land contract conflicts and draft amendment to the law on statistics will be first tabled at the session. Two international pacts are due to be ratified during the session: the pact on the joint military exercises held by the Shanghai Cooperation Organization members and the one on criminal judicial assistance between China and United Arab Emirates. The State Council will table four reports, on implementation of the 11th Five-Year Plan, on measures to cope with international financial crisis and maintain a stable healthy economic growth, on measures to stabilize consumer price and on efforts to control water pollution.
BEIJING, Oct. 30 (Xinhua) -- China will adopt preferential fiscal and investment policies to boost economic development and trade in border areas, said the Ministry of Finance (MOF) on Thursday. As of Nov. 1, residents who live in the border will be exempted from taxation of the daily necessities such as food and cloth costing in total no more than 8,000 yuan (1,171.3 U.S. dollars) per individual in one day. Fiscal departments at all levels of government will allocate funds to support enterprises that engage in small-amount trade in border areas as of Nov. 1. But the MOF didn't reveal how much money would be allocated. The amount of the fund is expected to increase every year, and no limitation was set on the period, said the MOF
BEIJING, Nov. 27 (Xinhua) -- China's Party discipline watchdog Thursday vowed to put government-funded projects under scrutiny when the country is investing 4 trillion yuan to stimulate the economy. "We would try to prevent corruption, when a project is tabled for review and approval, when the land is allocated to it, when a public bidding is held for contractors," said He Yong, deputy secretary of the Communist Party of China Central Commission for Discipline Inspection (CCDI), at a meeting here Thursday. Besides government-funded ones, other projects with state investment would also be the top priority, he said. The CCDI would issue a set of rules to regulate business activities and officials' work as soon as possible, he said. For instance, it would push local governments to publicize urban planning documents, which listed infrastructure projects to be implemented, and issue detailed rules to protect fair play in public bidding. To curb graft in this field, discipline officers would also target commercial bribery, which has implicated officials. They will establish a database specially for commercial bribery cases. A company involved in such cases would be excluded from any business, He said. On Monday, the CCDI also issued a statement jointly with the National Development and Reform Commission (NDRC), the Ministry of Supervision, the Ministry of Finance and the National Audit Office to ensure close supervision on the stimulus package. The statement said two dozen inspection teams will be sent to follow projects funded by the package.
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