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BEIJING, June 12 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao have ordered that supplies for the summer harvest be guaranteed amid reports of shortages in some areas.     Following their order, the State Council has asked local governments and related enterprises to prioritize supplies such as diesel, the fuel for farm vehicles, to take advantage of the best time for the ongoing wheat harvest.     Tight supplies of diesel were reported in some areas since the country began to reap the wheat crop in May as refiners experienced losses resulting from domestic prices that were kept below the spiraling international prices. Famers crop wheat in Yuanyang County of Xinxiang City in central China's Henan Province, June 4, 2008. The harvest of over 5.2 million hectares of wheat in Henan Province has been completed by 5 p.m. on June 11. The whole summer grain crops of Henan is expected to break 30 billion kilograms    The summer harvest is vital for China as wheat production would add to the grain output for the year.     The State Council asked producers to enhance production to increase supplies. It also warned related departments to impose tighter supervision over market order to cap prices.     It said more specific measures, such as providing exclusive supply channels for diesel-powered farming vehicles, handing out special filling cards for farming vehicles and direct diesel delivery to farmers, would also be implemented. Chen Shuying gathers wheat in Houhe Town of Weihui City in central China's Henan Province, June 6, 2008. The harvest of over 5.2 million hectares of wheat in Henan Province has been completed by 5 p.m. on June 11. The whole summer grain crops of Henan is expected to break 30 billion kilograms.

BEIJING, Sept. 20 (Xinhua) -- Premier Wen Jiabao said on Saturday China was confident and fully capable of keeping a good momentum of economic growth this year despite domestic difficulties and a global economic slowdown.     Addressing a seminar for the country's ministerial-level official in Beijing, Wen said this year had been the most difficult year as China faced both global challenges and domestic problems in economic operation. Premier Wen Jiabao on Saturday addresses a seminar for the country's ministerial-level official in Beijing. Global financial instability and economic slowdown had exerted a strong influence on the country. In addition, China had to tackle domestic problems, including price increases and regional economic slowdown.     However, the country had adopted a series of counter measures and these had proved effective, he said.     With huge domestic demand, relatively abundant capital and an improved labor force quality, the country was fully confident and capable of reinforcing the good momentum of economic growth. Wen noted the material wealth collected in the past three decades and accumulated experience would help the country to address problems arising from economic development.     Efforts should be made to rein in inflation and ensure macro-economy stability, especially the financial market and the stock market, he stressed.     In his speech, Wen urged local governments and officials to put work and food safety at the top of their agendas.     The development of enterprises and economy should not be at the cost of people's lives and health, he emphasized.     Wen also vowed to beef up efforts to monitor food quality and rectify the food market. All illegal activities should be severely punished to ensure people have safe food.     He also championed the balanced development between the rural and urban areas, saying agricultural issues should be the first priority of government work     The seminar was presided over Vice Premier Li Keqiang. Vice President Xi Jinping also attended.

BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis.     The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said.     "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council.     "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua.     OUT OF SLOWDOWN CONCERNS     The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25.     Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint.     Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua.     Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October.     China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters.     Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses.     Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating.     The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February.     "Inflation is no longer a threat with the declining commodities prices," Tang said.     The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook."     TAX CUT TO BOOST DEMAND     In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday.     China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007.     The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences.     The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said.     GLOBAL COORDINATED RESPONSE     The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said.     Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis.     The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent.     Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions.     Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.

BEIJING, Sept. 20 (Xinhua) -- Premier Wen Jiabao said on Saturday China was confident and fully capable of keeping a good momentum of economic growth this year despite domestic difficulties and a global economic slowdown.     Addressing a seminar for the country's ministerial-level official in Beijing, Wen said this year had been the most difficult year as China faced both global challenges and domestic problems in economic operation. Premier Wen Jiabao on Saturday addresses a seminar for the country's ministerial-level official in Beijing. Global financial instability and economic slowdown had exerted a strong influence on the country. In addition, China had to tackle domestic problems, including price increases and regional economic slowdown.     However, the country had adopted a series of counter measures and these had proved effective, he said.     With huge domestic demand, relatively abundant capital and an improved labor force quality, the country was fully confident and capable of reinforcing the good momentum of economic growth. Wen noted the material wealth collected in the past three decades and accumulated experience would help the country to address problems arising from economic development.     Efforts should be made to rein in inflation and ensure macro-economy stability, especially the financial market and the stock market, he stressed.     In his speech, Wen urged local governments and officials to put work and food safety at the top of their agendas.     The development of enterprises and economy should not be at the cost of people's lives and health, he emphasized.     Wen also vowed to beef up efforts to monitor food quality and rectify the food market. All illegal activities should be severely punished to ensure people have safe food.     He also championed the balanced development between the rural and urban areas, saying agricultural issues should be the first priority of government work     The seminar was presided over Vice Premier Li Keqiang. Vice President Xi Jinping also attended.

BEIJING, July 9 (Xinhua) -- The parties involved in the Korean Peninsula nuclear talks held intense bilateral meetings here to pave the way for the discussions between chief negotiators, which are scheduled for Thursday afternoon. Kim Sook, chief negotiator of the Republic of Korea (ROK) delegation, met with his U.S. counterpart Christopher Hill and Chinese chief delegate Wu Dawei on Wednesday.    After the bilateral meetings, Kim told reporters that he felt neither "optimistic" nor "pessimistic" about the six-party talks, and each party needed to cool down and detail the relevant issues. Wu Dawei (R), China's top negotiator on Korean Peninsular nuclear issue, meets with his South Korean counterpart Kim Sook in Beijing, capital of China, July 9, 2008. The heads meeting of a new round of six-party talks on Korean Peninsular nuclear issue will be held here on July 10.     Hill, after meeting with the ROK side, said they touched upon issues including the verification process for the Democratic People's Republic of Korea (DPRK) denuclearization, fuel aid to the country, food shipments and other issues.     Hill said he is scheduled to have a breakfast meeting on Thursday with Russian chief delegate Alexei Borodavkin, after which there will be a trilateral meeting of China, the United States and Russia, with the aim of fully preparing for the six-party talks in the afternoon.     Hill met with the DPRK delegation soon after he arrived in Beijing on Tuesday afternoon, saying that denuclearization verification, including documents, site visits and interviews, would be a focal point in the upcoming meeting.     Under an agreement reached in October, the DPRK agreed to abandon all nuclear weapons and programs and declare all its nuclear programs and facilities by the end of 2007, in exchange for diplomatic and economic incentives.     The DPRK submitted its nuclear declaration to China on June 26 and demolished the cooling tower at the Yongbyon nuclear reactor on June 27, though it missed the deadline.