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BEIJING, Oct. 4 (Xinhua) -- The ongoing global financial turbulence will have a limited impact on China's banks and financial system in the short run, according to officials and experts. "We feel China's financial system and its banks are, to the chaos developed in the U.S. and other parts of the world, relatively shielded from those problems," said senior economist Louis Kuijs at the World Bank Beijing Office. He told Xinhua one reason was that Chinese banks were less involved in the highly sophisticated financial transactions and products. "They were lucky not to be so-called developed, because this (financial crisis) is very much a developed market crisis." Farmers harvest rice in 850 farm in Northeast China's Heilongjiang Province on Sept. 26, 2008. A few Chinese lenders were subject to losses from investing in foreign assets involved in the Wall Street crisis, but the scope and scale were small and the banks had been prepared for possible risks, Liu Fushou, deputy director of the Banking Supervision Department I of the China Banking Regulatory Commission, told China Central Television (CCTV). Chinese banks had only invested 3.7 percent of their total wealth in overseas assets that were prone to international tumult, CCTV reported. The ratio of provisions to possible losses had exceeded 110 percent at large, state owned listed lenders, 120 percent at joint stock commercial banks and 200 percent at foreign banks. Kuijs noted most of the banks resided in China where capital control made it more difficult to move money in and out. Besides, the country's large foreign reserves prevented the financial system from a lack of liquidity, which was troubling the strained international markets. "At times like this, one cannot rule out anything," he said. "But still we believe the economic development and economic fundamentals in China are such that it's not easy to foresee a significant direct impact on the financial system." However, he expected an impact on China's banks coming via the country's real economy, as exports, investment and plans of companies would be affected by the troubled world economy and in turn increase pressure on bad loans. Wang Xiaoguang, a Beijing-based macro-economist, said the growing risks on global markets would render a negative effect on China in the short term but provided an opportunity for the country to fuel its growth more on domestic demand than on external needs. He urged while China, the world's fastest expanding economy, should be more cautious of fully opening up its capital account, the government should continue its market reforms on the domestic financial industry without being intimidated. Chinese banks had strengthened the management of their investments in overseas liquid assets and taken a more prudent strategy in foreign currency-denominated investment products since the U.S.-born financial crisis broke out, CCTV reported.
BUCHAREST, May 6 (Xinhua) -- China's top political advisor Jia Qinglin said here Monday that China and Romania share the same task of opening up a new era in their all-round partnership of friendship and cooperation. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political consultative body, delivered a speech at a session of the Romanian Senate on Monday evening. In his speech, Jia explained China's policy and concept of peaceful development and mutually beneficial, win-win cooperation with other countries. He emphasized the willingness to further deepen friendship between China and Romania and advance China's relations with Central and Eastern Europe in an all-round way. Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, delivers a speech at the Romanian Senate in Bucharest, Romania, May 5, 2008. Jia was warmly welcomed by Romanian Senators as he entered the meeting hall at the Parliament Palace under the escort of President Nicolae Vacaroiu. China and Romania enjoy a long-standing friendship. Romania is one of the first countries that recognized new China shortly after its founding. Since the two countries established diplomatic relations nearly 60 years ago, bilateral relations have been growing smoothly despite major changes in international situation and conditions in both countries. The two countries have been always supporting each other on international affairs and domestic development. Over the past few years, China and Romania have maintained frequent exchange of visits by high-ranking officials. Chinese President Hu Jintao visited Romania in 2004, when the two countries lift their relations to an all-round partnership of friendship and cooperation. "The true friendship and deep passion that the Romanian people cherish toward the Chinese people will always remain on the historical record of bilateral relations," Jia said in the speech. In the speech entitled "continuing the past, opening up the future and jointly creating a better tomorrow of friendship and cooperation", Jia said the two peoples have become friends of all weathers and that China-Romania relations have become an example of international relations. Jia put forward four proposals on further advancing bilateral links. First, the two countries should enhance political trust. They should continue to respect and treat each other as equals, never interfere in each other's internal affairs and pay attention to each other's concern. They should maintain high-level contact and carry out even closer exchanges and cooperation between their governments, legislatures and political parties so as to lay a solid political foundation for sustained development of bilateral links. Secondly, the two countries should expand trade and economic cooperation. They should expand trade and investment according to the principle of mutual complementarity, equality and mutual benefits. They should continue to give a full play to the role of their joint economic commission, encourage and support their companies to increase contact and explore new ways and methods of cooperation. Thirdly, the two countries should deepen cultural and humanitarian exchanges. They should continue exchanges and cooperation in such fields as culture, science, technology, education, sports, public health and tourism so as to add new content to bilateral links. They should further expand people-to-people exchanges, exchanges among local authorities and young people so as to consolidate the foundation of China-Romania friendship and add vigor to the development of bilateral links. Fourthly, the two countries should step up coordination and cooperation on international issues. They should join effort to build a fair, unbiased and rule-based multi-lateral system with the United Nations assuming the core role. Jia said China-Romania friendship is deep-rooted and fruitful and will enjoy an even better future. He called for the people of the two countries to join hands in strengthening their traditional friendship and all-round cooperation. Jia arrived in Bucharest Sunday for a four-day official goodwill visit to Romania. Romania is the first leg of his four-nation Europe tour, which will also take him to Hungary, Slovenia and Croatia.
GENEVA -- The Tibet issue is not an ethnic issue, not a religious issue, nor a human rights issue, but an issue either to safeguard national unification or to split the motherland, a Chinese diplomat said in Geneva on Friday."The Tibet issue is entirely an internal issue of China which concerns the country's sovereignty," said Qian Bo, counsellor of the Chinese Mission to the UN Office in Geneva.The diplomat was addressing a regular session of the UN Human Rights Council, during which some delegates made biased comments on the so-called human rights situation in Tibet.Those delegates' comments were "an evident act of politicizing human rights and practicing double standards," said Qian.Qian stressed that the human rights situation in Tibet had improved continuously since its peaceful liberation in 1951.He said Tibetans are now enjoying full religious freedom and their traditional culture has also been carried forward."The progress and achievements made in Tibet are facts that cannot be written off by lies and libels," he said.The diplomat stressed that the violent crimes committed in March in Lhasa, the capital of southwest China's Tibet Autonomous Region, were mastermind and incited by the ** clique aimed at splitting the motherland.The riot has nothing to do with human rights, so China cannot accept any unreasonable accusations, he said.The diplomat also urged the Human Rights Council to avoid politicizing human rights and remove double standards in order to maintain its prestige and credibility.
ZHANJIANG, Guangdong, June 28 (Xinhua) -- After a five-day visit to China, Japan's Maritime Self-Defense Force destroyer "Sazanami" left the southern Guangdong Province port city of Zhanjiang on Saturday morning. Sazanami, with its 240-member crew, is the first Japanese warship to visit China since World War II. A farewell ceremony was held at the port before its departure. "Please send the love and friendship of the Chinese navy and people back to Japan," Lt. Gen. Su Shiliang, commander of the South Sea Fleet, said to Major-Gen. Shinichi Tokumaru of the Japanese Maritime Self-Defense Force. General Su Shiliang (R, front), commander of China's South Sea Fleet, sees off Major-Gen. Shinichi Tokumaru (L, front) of the Japanese Maritime Self-Defense Force at the port of Zhanjiang, South China's Guangdong Province, June, 28, 2008Su added the reciprocal visits symbolized an important step in the communication between the China and Japan defense forces. Before heading back to Japan, the destroyer will have a drill with the Chinese navy in the sea area near Zhanjiang. It will focus on communication and formation. During its five days in port, the Japanese crew visited the Chinese missile destroyer "Shenzhen" and toured Zhanjiang's urban area. They also played basketball, football and tug-of-war with the Chinese crew in the rain that has blasted southern China of late. In addition, officers from both sides held seminars to exchange experiences in disaster relief and other activities. About 1,000 locals visited the Sazanami with smiles and excitement since it was opened to the public on Friday. Chinese and Japanese military bands also gave live performances for visitors with the Chinese Peking Opera and the theme of evergreen Japanese cartoon "Doraemon" on the playlist. The destroyer with a 4,650 standard tonnage, set off from Hiroshima for the reciprocal visit. The Shenzhen destroyer docked in Japan late last year. The Japanese warship arrived here on Tuesday. Mariners of the Japanese Maritime Self-Defense Force destroyer Sazanami unload relief supplies for the quake-hit China's Sichuan Province at the port of Zhanjiang, south China's Guangdong Province, June 25, 2008. On Wednesday morning, its crew unloaded disaster-relief goods including food, blankets, hygiene masks, disinfectant and other items it had brought for the quake-hit areas in southwest China. China and Japan, neighboring countries separated by water, havebeen friends and rivals for thousands of years. The sea has been a major channel in their history of exchange. Xu Fu, a Chinese religious figure, led a team to Japan and mixed with the natives on the islands 2,000 years ago. About 1,000 yearsago, Jianzhen, a Chinese monk, was invited by the Japanese to spread the splendid Chinese culture in the territory. But as Japan rapidly became a major power in the region during the 19th century, a battle broke out between the two countries on the sea in 1894, with the failure of the Chinese fleet. An unequal treaty was signed between China and Japan as consequence. During 1931 and 1945, Japanese troops invaded China and the war lasted until the end of the World War II. Resentment still remains between the two nations as there are disputes on history, sovereignty and the exploration of resources under the sea. The military exchange came after another breakthrough in Sino-Japanese relations as a result of Chinese President Hu's landmark visit to Japan earlier this year. The two countries announced last week they had reached a principled consensus on the East China Sea issue and Japanese companies were allowed in the development of the Chunxiao oil and gas field. Two Chinese mariner untie the cable of the Japanese Maritime Self-Defense Force destroyer "Sazanami" at the port of Zhanjiang, South China's Guangdong Province, June, 28, 2008. The destroyer Sazanami left Zhanjiang on Saturday after a five-day visit to China. Sazanami, with its 240-member crew, is the first Japanese warship to visit China since World War II
BEIJING, April 30 (Xinhua) -- Jia Qinglin, Li Changchun and Zhou Yongkang, members of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday. During their separate visits, they were shown around the 160 material exhibits and more than 400 pictures. The exhibition is being held in two halls of the Nationalities Cultural Palace. Jia Qinglin, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday. The exhibition shows the backwardness of Old Tibet and the development and progress of New Tibet, as well as the inseparable, historic links between Tibet and the Chinese nation. Tibet is in its best period in history and the exhibition shows the great changes in the Tibet Autonomous Region in the political, economic, social and cultural fields, said Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). Li Changchun, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.Li, who is responsible for the Party's ideological work, said the exhibition exposes the darkness, cruelty and backwardness of Old Tibet and the hypocritical face of the ** Lama as a "human rights guardian," "missionary of peace" and "spiritual leader." The historic materials show that Tibet has been an inseparable part of China since ancient times, as the Chinese central government has exercised effective sovereign rule over Tibet, said Zhou, the secretary of the CPC Central Committee for Political and Legislative Affairs. Zhou Yongkang, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.The senior Party officials all pledged to safeguard the achievements of New Tibet, the happy lives of Tibetans and prosperity, development, harmony and stability in Tibet. Other senior Party and State officials visiting the exhibition on the same day included Hui Liangyu, Liu Yunshan, Ma Kai, Meng Jianzhu and Du Qinglin. The exhibition is sponsored by the United Front Department of the CPC Central Committee, the State Council Information Office, the State Ethnic Affairs Commission and the regional government of Tibet. It will be open to the public between April 30 and July 25,free of charge.