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TASHKENT, June 27 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang on Saturday called for closer economic ties between China and Uzbekistan while meeting with Uzbek First Deputy Prime Minister Rustam Azimov. Li said China and Uzbekistan have deepened their pragmatic cooperation and achieved a lot in this regard in recent years. Besides growing trade, bilateral cooperation in areas like investment and projects outsourcing also made rapid progress, he noted, adding the two sides have improved the quality and increased the level of bilateral, pragmatic cooperation with joint projects being carried out in energy, mining, transportation, agriculture, telecom, machinery, petrochemical and other sectors. Chinese Vice Premier Li Keqiang (R) meets with Uzbekistan First Deputy Prime Minister Rustam Azimov in Tashkent, Uzbekistan, on June 27, 2009 The Chinese leader called on the two sides to capitalize on the progress of bilateral cooperation, and take full advantage of the fact that the two economies are highly complementary to each other and the two countries enjoy geographical closeness. Chinese Vice Premier Li Keqiang (5th L, rear) and Uzbekistan First Deputy Prime Minister Rustam Azimov (6th L, rear) attend the signing ceremony of cooperation agreements between the two countries, in Tashkent, Uzbekistan, on June 27, 2009He specifically said the two countries should continue to expand bilateral trade and two-way investment and spare no effort to carry out major joint infrastructure projects. Meanwhile, the two sides should enhance cooperation in other areas and move faster on carrying out aid and loans initiatives to achieve mutually-beneficial and steady development of both economies, he added. On broader bilateral relations, Li said the relationship between China and Uzbekistan has been developing smoothly as political trust between the two sides continues to deepen and cooperation in specific areas like economy, energy, transportation and security grows stronger day by day. He noted China and Uzbekistan have supported each other on critical issues and worked closely within multilateral frameworks like the United Nations and the Shanghai Cooperation Organization, which has helped both sides safeguard their common interests and has had a positive impact on regional and world peace and stability. Chinese President Hu Jintao met with his Uzbek counterpart Islam Karimov during the 2008 Summer Olympic Games in Beijing, and also on the sidelines of the summit of the Shanghai Cooperation Organization countries held in the Russian city of Yekaterinburg earlier this month. Chinese Premier Wen Jiabao paid his first official visit to Uzbekistan in November 2007 after attending a meeting of the prime ministers of the Shanghai Cooperation Organization countries held in the Uzbek capital Tashkent. Li said Chinese and Uzbek leaders had an in-depth exchange of views on deepening pragmatic bilateral cooperation and reached a lot of important agreements during their meetings. He said the primary goal of his current visit is to carry out specific programs of pragmatic cooperation between China and Uzbekistan according to the consensus reached by the top leaders of the two sides with the aim of bringing more concrete benefits to the two peoples. On his part, Azimov said the leaders and senior officials of Uzbekistan and China have met on a regular basis to build a solid base for further developing bilateral relations. He described Li's visit to the country as an important step toward putting into practice the consensus reached by the leaders of the two countries. He said Uzbekistan and China have made remarkable progress on energy cooperation in recent years, which reflects a new dimension of bilateral economic cooperation and will benefit both economies. The Uzbek official said his country has been closely watching the economic development of China and would like to learn from China's successful experience. He also praised the measures taken by the Chinese government to tackle the global financial crisis. After the meeting, the two attended the signing ceremony of 11 government or corporate bilateral agreements on cooperation in such areas as economy, tourism and health
BEIJING, May 28 (Xinhua) -- Zhang Xuanqi got up Thursday morning and fastened a small hand-made scent bag on his shirt. This kind of adornment has been a must for him on this special day every year since his childhood. "Inside the bag is cinnabar that can keep away evils," said Zhang, a middle school student in Quwo County, Shanxi Province. Local people take part in the dragon boat race to mark the Duanwu Festival, also known as the Dragon Boat Festival, in Chengdu, southwest China's Sichuan Province, May 28, 2009. The Duanwu Festival falls on May 5 of Chinese lunar calendar. This year's Duanwu festival falls on Thursday.It is generally believed that the Duanwu Festival is marked to remember to Qu Yuan, one of the greatest ancient Chinese poets who drowned himself in the Miluo river to protest the corrupt court.As Chinese celebrated the Dragon Boat Festival, or Duanwu, which fell on Thursday this year, folk customs for this event have been reviving among both the old and young in this fast developing country. To wear small bags, usually with cinnabar, medicinal herbs or aromatic materials inside, is one of the traditions. The festival is for people to remember Qu Yuan, a patriotic poet more than 2,000 years ago, who, according to legend, drowned himself in the Miluo River in Hunan Province to protest the then corrupt kingdom. Residents take part in a Zongzi making competition in Zhoushan, east China's Zhejiang Province, May 28, 2009, to celebrate the Chinese traditional Duanwu Festival, also known as the Dragon Boat FestivalPeople also eat glutinous rice dumplings wrapped in bamboo leaves, or called zongzi, to observe the festival. Legend has it that people drop zongzi into the water to feed Qu Yuan's spirit. Others say that they are meant to keep fish from feeding on Qu's body. VARIOUS ACTIVITIES On Thursday, dragon boat races were organized in many places across the country. To mark the event, the 2009 National Dragon Boat Month and the Fourth China International Dragon Boat Tournament kicked off on the Miluo River. Ten domestic teams and an American team joined the competition. Chinese folk artists perform lion dance to mark the Duanwu Festival, also known as the Dragon Boat Festival, in Baoshan, east China's Shanghai Municipality, May 28, 2009."Our fishermen members have been making use of the fishing ban period from late January to September to have dragon boat race training," said Jin Fangming, coach for the team from eastern Jiangsu Province. In southern Guangdong Province, 68-year-old farmer Yao Songjie in Yangqi Village joined a boat race with dozens of other participants . "This is an activity we farmers love most," he said before the race began. Chinese folk artists perform for local residents to mark the Duanwu Festival, also known as the Dragon Boat Festival, in Taiyuan, capital city of north China's Shanxi Province, May 28, 2009. The Duanwu Festival falls on May 5 of Chinese lunar calendar. This year's Duanwu festival falls on Thursday.It is generally believed that the Duanwu Festival is marked to remember to Qu Yuan, one of the greatest ancient Chinese poets who drowned himself in the Miluo river to protest the corrupt court.
BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery. China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website. The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth. The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan. The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said. Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months. The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment. The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge. The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans. There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month. The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures. China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year. The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects. In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports. The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said. The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn. But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth. "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said. The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks. It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies. The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero. The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank. It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered. "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said. The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report. The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase. PBoC said the policy would leave the bond markets subject to fluctuations. It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.
SHANGHAI, May 23 (Xinhua) -- Kaohsiung mayor Chen Chu met with her Shanghai counterpart Han Zheng Saturday afternoon during her visit to the mainland. Chen was to promote the World Games, to be held in Taiwan's port city Kaohsiung from July 16 to 26. Shanghai is the last leg of her promotion tour. Han expressed his confidence in deepening cooperation between the two port cities. "With development of cross-straits ties, exchanges between Shanghai and Kaohsiung are more frequent than before," he said. Shanghai Mayor Han Zheng (R) meets with his Kaohsiung counterpart Chen Chu in Shanghai, east China, May 23, 2009Shanghai and Kaohsiung started chartered flight in 2003 and direct chartered flight last year. "It brings our two cities closer," Han said. Chen thanked Han for the help to her promotion, and expressed her wish for the success of the 2010 World Expo in Shanghai. She said that she expected more exchanges with Shanghai in tourism development. Chen Chu arrived in Beijing on Thursday, where she met with mayor Guo Jinlong. She flew to Shanghai Saturday afternoon.
Urumqi, June 21 (Xinhua) -- Chinese Vice President Xi Jinping has called for efforts to strengthen and improve grassroots organizations of the Communist Party of China (CPC) to ensure prosperity, development, harmony and stability in ethnic minority areas. Xi, who is also a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during his research trip to northwest China's Xinjiang Uygur Autonomous Region from June 17 to 21. Chinese Vice President Xi Jinping (C) talks with a worker while inspecting Xinjiang Joinworld Co., Ltd in northwest China's Xinjiang Uygur Autonomous Region, June 20, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21During his stay in the autonomous region, Xi toured Kashi, Bayingholin, Kalamayi, Shihezi and Urumqi cities, where he visited villages, communities, companies, schools and the Xinjiang Production and Construction Corps. In Kashi, an area frequently shaken by earthquakes in recent years, Xi looked into the progress in building anti-earthquake houses. In Urumqi, the regional capital of Xinjiang, he attended a class of a high school and talked with students. Chinese Vice President Xi Jinping (2nd R) talks with a farmer at Baren Village, Shule County in northwest China's Xinjiang Uygur Autonomous Region, June 18, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21.While visiting some big oil and chemical projects, the senior official called for developing a recycled economy and protecting resources and the environment. Before his departure, Xi addressed a workshop for local Party and government officials. Chinese Vice President Xi Jinping (back L3) talks with students of the 15th Middle School of Urumqi in northwest China's Xinjiang Uygur Autonomous Region, June 20, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21.