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BEIJING, Sept. 9 (Xinhua) -- Central banks should provide incentive mechanisms for banks to extend more loans to support the real economy, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), or the central bank, said Thursday.Speaking at a forum in Beijing sponsored by Oxford University and the China Development Research Foundation, Zhou reviewed the worldwide central banks' role in helping grapple with the financial crisis, pointing out that zero interest rate policies adopted in many countries could discourage banks from extending lending.He said, however, that a central bank should maintain a certain interest rate margin, which will help banks to recover from damages brought by the global credit crunch and strengthen their abilities to extend loans.
Urumqi, Sept. 14 (Xinhua) -- Senior Chinese leader Li Changchun has urged northwestern Xinjiang region to make more efforts to achieve leapfrog development in both economy and people's standards of living, while ensuring ethnic unity.Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during his inspection in northwestern Xinjiang Uygur Autonomous Region from Sept. 10 to 14.While visiting Horgas, reportedly the largest trucking hub along the northwestern border, Li urged local officials to take full advantage of the trucking hub's geological location and further expand.Li Changchun (2nd L), a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, talks with local residents in Yining, northwest China's Xinjiang Uygur Autonomous Region, Sept. 11, 2010. Li made an inspection tour in Xinjiang from Sept. 10 to 14.Li expressed his hope that Horgas would become a pilot area for trade and investment as the country is seeking further development westward.During his inspections of various companies, Li urged business officials to expand businesses and make greater efforts to become world-famous enterprises by developing core technologies and independent brands.Also, Li visited a community, in the city of Yining, where residents of 12 ethnic groups live in harmony."Ethnic unity is the basic life line for people in Xinjiang, and is also a key guarantee for Xinjiang's prosperous development," Li said, stressing that local people should cherish ethnic unity as they cherish their eyes.Additionally, Li called for a series of "outstanding" cultural products to meet the demands of local people and urged them to push forward the construction of a public cultural service system.

HEFEI, Sep. 4 (Xinhua) -- Innovation in Chinese enterprises is steadily increasing with more patents filed and more funds invested in research and development (R&D), the China Enterprise Confederation (CEC) said Saturday.The top 500 Chinese enterprises possessed 169,000 patents in 2010, up 13.3 percent from last year, according to a report released by the CEC.Among the top 500 companies, 41 had more than 1,000 patents, while 36 companies owned more than 200 patents for innovations, the report said.Chinese enterprises were also investing a larger share of their revenues into R&D.Each of the top 500 firms allocated, on average, 775 million yuan (113.93 million U.S. dollars) into R&D, an increase of 14.4 percent from 2009 and accounting for 1.4 percent of their total revenues, the CEC said.Of the 500 firms, 17 spent more than five percent of their revenues on R&D, while another 60 enterprises invested from five to 10 percent of their revenues into R&D, according to the report.In 2009, China filed 7,946 international patents, up 29.7 percent from 2008 and ranking fifth in the world, according to the World Intellectual Property Organization (WIPO).
BEIJING, Aug. 30 (Xinhua) -- Chinese Vice President Xi Jinping said here Monday China hopes to work with Norway to boost bilateral economic and trade cooperation.Xi told visiting Norwegian Minister of Foreign Affairs Jonas Gahr Stoere he hopes the two countries will expand cooperation in areas such as shipping, fisheries, energy, environmental protection and the Arctic.Xi said as long as the two nations respect each other and especially respect each other's core interests and major concerns, China-Norway relations will develop in a healthy way.Stoere expressed appreciation for China's achievements in social and economic progress, saying that the Norwegian government will increase cooperation with China in politics, economics, culture, science and technology, energy and finance.Norway hopes to sign a free trade agreement with China, Stoere added.Chinese foreign minister Yang Jiechi held talks with Stoere earlier Monday.
BEIJING, Oct. 3 (Xinhua) -- A senior Chinese official has called for rule of law in the state's decision-making to ensure economic development and maintain social justice.Zhou Yongkang, a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remark in his speech at a ceremony Sunday in Beijing to mark the 60th anniversary of the founding of the School of Law under Renmin University of China.After more than 60 years of development, a socialist legal system with Chinese characteristics is taking shape and China will further promote legislative, judicial and law enforcement work, said Zhou.Chinese authorities will pay more attention to scientific and democratic decision-making in line with laws to promote social harmony and justice, he said.The government will also pay more attention to education on laws and cultivation of more legal talents, the official added.Renmin University's School of Law is hosting an international seminar on legal systems of China and other countries. The event invited about 400 law experts from law schools of about 100 universities and colleges around the world.
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