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ZURICH, SWITZERLAND, Feb. 26 (Xinhua) -- A Chinese business delegation inked trade deals worth more than 300 million U.S. dollars with Swiss companies on Thursday, ending the second leg of their four-state procurement tour in Europe. The agreements covered products ranging from software to electric equipments and metals, which meet China's domestic needs, according to Chinese trade officials. Among those agreements, Switzerland's ABB, a global leader in power and automation technologies, signed a letter of intent for the supply of generator circuit breakers to China Nuclear Power Engineering Company. Switzerland's Glencore, one of the world's largest suppliers of a wide range of commodities and raw materials to industrial consumers, also signed a deal with Chinalco, the world's second largest alumina producer and the third largest primary aluminum producer. Holcim, one of the world's leading suppliers of cement and aggregates based in Switzerland, deepened its partnership with China's Huaxin Cement Company (HCC). They signed a frame agreement for technical service, technology and new equipment supplies covering the next two years. Holcim is already the single largest shareholder in HCC, holding a stake of 39.9 percent of the Chinese firm. "HCC with Holcim's support will continue to strengthen and extend its leading role as a modern cement producer in China," the two companies said in a statement. Chinese Commerce Minister Chen Deming (L) shakes hands with Swiss Economy Minister Doris Leuthard, after signing a memorandum on the intensification of technical cooperation in the field of environmental technology, in Zurich, Switzerland, Feb. 26, 2009. Chen and Leuthard attended here on Thursday the Sino-Swiss Economic and Trade Forum with the aim of intensifying relations between Swiss and Chinese companiesChinese Commerce Minister Chen Deming, who led the delegation, said that besides this team, there will be more Chinese business delegations coming to Switzerland for trade and investment opportunities. Swiss Economy Minister Doris Leuthard revealed that a Swiss business group will also go to China within the year. Both ministers witnessed the deal-signing ceremony and opened an economic and trade forum with the aim of intensifying relations between Swiss and Chinese companies. Addressing the forum, Chen said that cooperation is the effective way to tackle the international financial crisis which posed great challenge to world economy. Chinese Commerce Minister Chen Deming (L) and Swiss Economy Minister Doris Leuthard attend a press conference in Zurich, Switzerland, Feb. 26, 2009. Chen and Leuthard attended here on Thursday the Sino-Swiss Economic and Trade Forum with the aim of intensifying relations between Swiss and Chinese companies"Past experience shows that in time of crisis it is all the more important to adhere to a policy of openness and cooperation," he said. "Protectionism will not revive the economy. Rather, it will exacerbate the recession." "This trade and investment promotion delegation to Europe is a clear indication of China's opposition to protectionism and its readiness to work together with Europe in tiding over the crisis," he added. Highlighting China and Switzerland are important economic and trade partners to each other, Chen said the two economies are highly complementary. China is highly competitive in labor-intensive products, such as garments, jewelry, footwear and containers, offering budget choice to Swiss consumers, while Switzerland boasts a distinct competitive edge in watches, medicines, measuring instruments and precision machinery. In 2008, bilateral trade between China and Switzerland reached 11.25 billion U.S. dollars, increasing 19.2 percent despite the economic downturn. China is now Switzerland's second largest trading partner in Asia. Leuthard said that the visit by the Chinese delegation sent a strong signal that China and Switzerland remain committed to open markets and against protectionism. She said the agreements between Swiss and Chinese companies are "good news to our businesses." "They signed contracts which will safeguard jobs and strengthen the cooperation between Swiss and Chinese companies in different fields in our economy," she said. Earlier today, Leuthard and Chen signed a memorandum on the intensification of technical cooperation in the field of environmental technology. "Switzerland and China will cooperate more strongly to ensure that economic growth can be shaped in a more sustainable and environmentally-sound manner," the Swiss government said. To this end, a joint working group is to be established to examine the potential for cooperation in the areas of technology transfer, energy efficiency, renewable energies and the efficient use of resources. The group will submit proposals on the shape of this cooperation. Switzerland is the second stop of the Chinese business delegation's European tour. On Wednesday, they signed 37 procurement deals worth about 11 billion euros (14 billion U.S. dollars) with local firms in Germany. In an interview with Xinhua on Wednesday, Chen expected purchase deals with Switzerland would be modest compared with Germany due to the gap in the two countries' economic scales. The delegation will arrive in Madrid, Spain later today and then London, the last stop. Chen said the deals to be signed there could be a more than in Switzerland.
BEIJING, March 31 (Xinhua) -- Chinese President Hu Jintao has called for strengthened coordination among different nations on economic polices and joint efforts against trade and investment protectionism to help the world economy recover. The international community as a whole was severely challenged in the course of tackling the global financial crisis and resuming growth in the world economy, Hu told Xinhua on Tuesday ahead of the G20 summit scheduled to open in London on Thursday. With the impact of the global financial crisis on the real economy unfolding and deepening, priorities should be taken by various countries to adopt economic stimulus measures in line with their own situations and work hand in hand to promote growth and employment and improve the people's lives, according to Hu. Efforts should also be made as soon as possible to stabilize the global financial market and earnestly give play to the role of finance in spurring the real economy to restore confidence of the people and enterprises, Hu said. "The international financial system should undergo necessary reforms in an all-round, balanced, gradual and effective manner to prevent a similar crisis in the future," the president noted. China as a responsible country would work with all the other parties attending the summit to help it yield "positive" and "practical" results, Hu said. China pledged to give its own contribution to the recovery of world economy. The country would adhere to its fundamental national policy of opening up to the outside world and mutually beneficial and win-win strategies, Hu said. A vigorous and more open China would not only benefit its own steady, fast growth, but help the international community fight the financial crisis and contribute to the world's peace and development, Hu said. The country has set an 8 percent target for economic growth this year, still notably higher than the 1 percent world average estimated by the World Bank. China grew 9 percent in 2008, the slowest pace in seven years. The global financial crisis and economic slowdown have created many difficulties for China, Hu said, citing the slump of exports and imports, slower industrial production and unemployment. But a basket of governmental measures to stimulate domestic demand and promote economic growth have begun to take effect, he added. Beginning in late 2008, the Chinese government has issued a comprehensive economic stimulus package including a 4 trillion yuan (585 billion U.S. dollars) investment plan and support plans for ten key industries. The country's central bank has cut interest rates five times and lowered deposit reserve ratio four times in an effort to enhance capital fluidity. "We have confidence, conditions and capabilities to keep a steady and rapid growth," Hu Jintao said.

BEIJING, April 1 (Xinhua) -- Chinese equities closed 1.47 percent up Wednesday to stand at 2,408.02 points, surpassing the 2,400 points mark, echoing the overnight Wall Street rebound. The Shanghai Composite Index gained 34.81 points, or 1.47 percent to 2,408.02. The Shenzhen Component Index rose 174.06 points, or 1.94 percent to 9,156.01. Gains outnumbered losses by 675 to 183 in Shanghai and 599 to 140 in Shenzhen. Combined turnover expanded to 250.67 billion yuan (36.68 billion U.S. dollars) from 200.03 billion yuan on the previous trading day. Coal shares boosted the index up, as there were reports Monday that the government might consider raising the coal price by 4 percent. China Shenhua Energy, the country's leading coal producer, gained 5.8 percent to 21.9 yuan, while China Coal jumped 5.65 percent to 9.17 yuan. The benchmark Shanghai Composite Index continued the upward trend of the previous trading day and touched a 2422.63 points intra-day high Wednesday, exceeding the previous intra-day high of 2402 points on Feb. 17. Zhang Yunpeng, an analyst with Beijing-based Huarong Securities, said investors should not be overly optimistic about the continuing rebound, as the turnover in recent days was lower than that in mid-February, which suggested that some investors were still cautious. China's top banking regulator Liu Mingkang said Tuesday the government would require foreign banks taking stakes in domestic commercial banks to hold those stakes for at least five years, rather than three as at present, to reduce risks for local banks. Zhang said this was a piece of positive news for Chinese bank stocks for the long run, as this move would help stabilize their share prices. The Industrial and Commercial Bank of China, China's top lender, rose 0.76 percent to 3.97, while the China Construction Bank, the country's second largest commercial lender, gained 0.47 percent to 4.32 yuan. Chongqing Iron and Steel Co. rose 1.24 percent to 4.91 yuan, after the steel producer reported a 33.18 percent growth in net profit to 598.3 million yuan last year in its annual report released Wednesday.
TOKYO, March 31 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), met late Monday with executives of major Japanese media, urging media of both countries to make due contributions to the advancement of Sino-Japan strategic and mutually beneficial relations. Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, said that both Chinese and Japanese media need to adopt a responsible attitude to report issues concerning bilateral relations and situations of their respective countries in line with the principle of authenticity, objectivity and comprehensiveness in a bid to promote mutual understanding and trust between the two peoples. The media should also proceed from the general situation of Sino-Japan relations to boost mutually beneficial cooperation in various areas, focusing more on news reports that are beneficial to closer bilateral cooperation and providing more information that is conducive to China-Japan strategic and mutually beneficial relations, he said. Exchanges and cooperation between the media of the two nations, such as "Beijing-Tokyo Forum" and "China-Japan Media Dialogue", help to establish new channels and forms for frank, in-depth and rational dialogues as well as a platform for the two peoples to deepen their mutual understanding, he said. Executives of key Japanese media such as public broadcaster NHK,TV Asahi, The Yumiuri Shimbun, Kyodo News Agency said that it is the common aspiration of both peoples as well as their historical responsibility to promote the steady and sustained growth of Japan-China relations. They also made proposals on advancing exchanges between media of the two countries, expanding bilateral cooperation on economy and trade and improving feelings the two peoples harbor toward each other. On Tuesday, Li visited the headquarters of The Yumiuri Shimbun and NHK, inquiring in detail about the management and operation of the two Japanese media. Li arrived here Sunday for an official goodwill visit. Japan is the third leg of his four-nation tour, which has already taken him to Australia and Myanmar. Li is to conclude his visit to Japan Wednesday and leave for the Republic of Korea.
WUHAN, Feb. 20 (Xinhua) -- Pakistani President Asif Ali Zardari arrived here Friday evening, kicking off his second China visit at the invitation of the Chinese government. During his stay at this capital city of central China's Hubei Province, Zardari was expected to pursue Sino-Pakistani cooperation in agriculture and water conservancy. He will also meet with the local governor. On behalf of the Chinese government, State Councilor Dai Bingguo will meet with Zardari here. Zardari will visit the Three Gorges Project in Yichang city to study its management and technology. Zardari was scheduled to leave Hubei for Shanghai, China's financial hub, on Sunday to continue his China tour. He was particularly interested in finance, banking, large-scale construction and Shanghai's urban development, according to the Ambassador of Pakistan to China. China believed the visit would consolidate the two countries' all-weather friendship and deepen all-round cooperation, Foreign Ministry spokeswoman Jiang Yu said earlier. Zardari paid his first state visit to China as guest of President Hu Jintao in October last year.
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