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BEIJING, Nov. 10 (Xinhua) -- The Chinese government will inject more funds for investment and improve investment structures to better cope with adverse global economic conditions, the State Council (Cabinet) decided at an executive meeting presided over by Premier Wen Jiabao on Monday. To achieve "steady and relative fast" economic growth and prevent "economic ups and downs" amid global and domestic economic challenges was on top of the country's agenda, said Wen. The government on Sunday announced it would launch a stimulus package estimated at 4 trillion yuan (570 billion U.S. dollars) to be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transport, the environment and technological innovation. "The country should strengthen management of large-scale investment projects, conduct feasibility studies in an earnest manner and increase investment efficiencies and profits," said a statement from the meeting, in which provincial leaders and Cabinet ministers participated. Wen said the stimulus package was crucial to tiding over the difficulties and maintaining long-term economic growth momentum. He urged local governments to be "quick" and "effective" in carrying out these measures with "large-scale" investment programs launched to boost domestic demand. The meeting participants called for more efforts to increase incomes and consumption capabilities, raising low-income earnings, promoting the "stable and healthy" development of the property sector and maintaining steady export growth. The country should endeavor to enhance competitiveness, improve financial macro-management and facilitate the steady and healthy development of the stock market. China announced on Sunday that it would adopt "active" fiscal and "moderately active" monetary policies to expand domestic demand and speed up construction of public facilities. The meeting also decided to push forward a series of key reforms, including restructuring the value-added tax regime, which could cut the tax burden on enterprises by 120 billion yuan next year.
BEIJING, Dec. 27 (Xinhua) -- "Our confidence to face the global financial crisis should rely on science, knowledge and talented people," Chinese Premier Wen Jiabao said Saturday. He made the remark during a visit to Beijing-based Zhongguancun Science Park, known as China's Silicon Valley. "I'm here to consult you on how to let science and technology play a good role for us to not only handle the current difficulties but lay a foundation for long-run development," said the premier. Chinese Premier Wen Jiabao takes group photos with UFIDA Software staff during his visit to Beijing-based Zhongguancun Science Park, known as China's Silicon Valley, Dec. 27, 2008. Wen visited a number of high-tech companies and met with scientists and officials, in the company of Beijing's Communist Party chief Liu Qi and Beijing Mayor Guo Jinlong. The government has launched a series of measures to deal with the current global financial crisis. They gave greater importance to the power of knowledge, science and technology which have far-reaching effects, Wen said. "In front of the crisis, everybody should stand up and be brave to take his responsibility," Wen emphasized. He urged scientists to help domestic enterprises resolve difficulties, improve management, develop new products and create new technology. The science park is celebrating the 20th anniversary of its founding this year.
BEIJING, Jan. 3 (Xinhua) -- Chinese scholars and businessmen have hailed Hu Jintao's latest speech on Taiwan affairs, hoping that the mainland and Taiwan could have more communication and cooperation in 2009. On the new year's eve, General Secretary of the Communist Party of China Central Committee Hu Jintao made a speech at a ceremony to commemorate the 30th anniversary of the mainland's "Message to Compatriots in Taiwan", in which he made six proposals to promote the peaceful development of the cross-Straits relationship. Chinese President Hu Jintao addresses a ceremony commemorating the 30th anniversary of the announcement of Message to Compatriots in Taiwan, held in Beijing, capital of China, on Dec. 31, 2008. The Chinese mainland commemorated the 30th anniversary of the announcement of Message to Compatriots in Taiwan here Wednesday with a ceremony. Zhou Zhihuai, executive vice president of National Society on Taiwan Studies, said that Hu's speech has combined the "one country, two systems" policy and the practice in the development of cross-strait relations. "His remarks have made the path of peaceful reunification clearer and will be of historical significance in the progress of the cross-strait relations," he said. Hu Youqing, vice president of All-China Federation of Taiwan Compatriots, said the Hu's speech will certainly receive positive responses from Taiwan. "Hu's speech has answered some specific issues which people in Taiwan are mostly concerned about and proposed methods to promote the cross-strait relations with very a sincere attitude," Hu Youqing said. Wu Nengyuan, director of institute of Taiwan studies with Fujian Academy of Social Science, expressed faith that people living on both the mainland and Taiwan would cherish the opportunities in year of 2009 and build on the significant progress in cross-strait exchanges made in 2008. A famous artist Wang Chengxi suggested that the mainland and Taiwan should strengthen their ties by increasing communication inc ultural sectors since the common cultural background shared by both sides could more easily arouse spiritual attachment and sympathetic response. Wang Wei, director of archeological institute with the Chinese Academy of Social Science, said that Hu's speech would promote academic and cultural exchange between the mainland and Taiwan. "All compatriots should join hands to continue the Chinese civilizations that has lasted for more than 5,000 years." Kong Fanbing, a senior technical officer with the mainland-based Datang Telecom Technology Co. Ltd., said that Hu's speech will also benefit economic cooperation between the two sides. "It is predictable that mainland telecom cooperation with Taiwan is very likely to be included in cross-strait economic cooperation mechanism in the future," Kong said. "As a telecom professional, I look forward to the establishment of a mechanism to share technological resources between the mainland and Taiwan," he said.
BEIJING, Dec. 1 -- Amid the coupling effects of shrinking global demand and rising operating costs, it has been a dramatic upheaval this year for domestic small and medium-sized enterprises (SMEs) after China started its reforms 30 years ago. Even as the scene appears a bit scary, there is still a ray of hope if only entrepreneurs note the writing on the wall and go all out to cut costs before they raise the clamor for a bailout.Two women make beds on a production line of the small private firm Nangang Shoemaking Factory in Foshan, Guangdong province.In the first half of 2008, much before the world saw the capital markets going topsy turvy amid the global economic slowdown, over 67,000 SMEs in China went bankrupt, while more than 10,000 labor-intensive textile enterprises downed shutters, according to figures from the Department of SMEs under the National Development and Reform Commission. In October, 714 companies were closed in Dongguan in Guangdong province, home to over 60,100 private companies and a major manufacturing center in China. "We will see more companies closing in the coming months, with the figure likely to cross 1,000 after Christmas," says Dongguan Deputy Mayor Jiang Ling. Most of the international buyers of Chinese products failed to get letters of credit in October leading to significant cancellations of Christmas orders, says Frank FX. Gong, chief China economist at JPMorgan Securities (Asia Pacific) Limited in a recent report. "Indeed, 'things suddenly ceased' was the common comment we heard on the ground lately," he says. But for some like Luo Chun, sales director of tin box maker Dongguan Tinpak Co, the freeze on Christmas orders has not yet meant closing. Luo says overseas order fell by 10 percent from June to October, normally the peak time for Christmas orders.