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BEIJING, July 3 (Xinhua) -- Chinese Vice President Xi Jinping met Friday with Daniel Kwelagobe, chairman of Botswana Democratic Party, according to a press release from the International Department of the Communist Party of China (CPC) Central Committee.Xi hailed China-Botswana relationship, saying the two countries have witnessed fruitful cooperation in areas like trade, investment, culture and education, said the press release.Since the CPC and Botswana Democratic Party established party-to-party relations 30 years ago, the two parties have conducted various forms of exchanges, which helped to increase mutual understanding and push forward bilateral relationship.Chinese Vice President Xi Jinping (R Front) meets with Daniel Kwelagobe, chairman of Botswana Democratic Party, at the Great Hall of the People in Beijing, capital of China, July 2, 2010.The CPC would further deepen exchanges and cooperation with the ruling party of Botswana, said Xi.Xi said China would make joint efforts with the African countries including Botswana to lift China-Africa strategic partnership to a new level.Kwelagobe, on his first visit to China since taking office as the party chairman, appreciated China's support for Botswana's development, saying the Botswanian government and ruling party would continue to follow one-China policy.Kwelagobe also spoke highly of the constructive role China has played in international affairs.
LUSAKA, July 26 (Xinhua) -- Zambian President Rupiah Banda on Monday met with visiting Chinese State Councilor Dai Bingguo, discussing ways to strengthen Zambia-China cooperative relations and further develop friendship between the two countries.President Banda said that Zambia has achieved obvious economic and social progress in recent years and the country has developed into a new page. He contributed this partly to the concrete cooperation with China.It's believed that Zambia will experience new change with further development of bilateral friendship and cooperation, Banda said, expressing hope to keep on high-level exchanges of visits between governments and parties of the two sides, as well as cooperation in all fields such as economy, trade, infrastructure, education and health care, with the aim to push forward Zambia- China relations to a new step.Zambian President Rupiah Banda meets with visiting Chinese State Councilor Dai Bingguo in Lusaka, Zambia, July 26, 2010.The President noted that it is grateful to see active investment from China to Zambia, which did help the country overcome the difficulties encountered in the global financial crisis. Chinese investors are always welcomed to start business in Zambia as an engine to boost local economy.Dai, for his part, hailed the traditional friendship between the two countries and reviewed the Zambian President's successful visit to China in February this year when he and Chinese President Hu Jintao reached common views in future development of bilateral relations.China will together with Zambia work hard to realize the common views and well push forward the bilateral relations, the Chinese senior official said.The China-Zambia cooperation, which has achieved fruitful developments, is strategic and mutual-beneficial cooperation. The relations between the two sides is on the basis of mutual respect, equal ties and joint development, Dai said.

BEIJING,Aug 9(Xinhuanet) -- China's high savings rate is expected to fall substantially in coming years as its workforce shrinks, the population ages and social security spending increases, a BIS report shows.In research published by the Bank for International Settlements (BIS) on the “myth and reality” of China’s savings rate, Ma Guonan and Wang Yi found that the Asian giant needs its population to spend more in order to sustain rapid economic growth in coming years.The researchers, who were writing in their personal capacity, also reject claims that Chinese State firms have been benefiting from high savings thanks to exchange rate distortions and subsidies designed to drive economic growth.They point out that “less advantaged” and more efficient firms have been the ones posting the greatest gains in earnings in recent years rather than State-owned companies.China’s gross national savings soared from 39.2 percent of output in 1990 to 53.2 percent in 2008, far higher than the United States, which saved only 12.2 percent in 2008.Even compared to other Asian giants — Japan with 27 percent in 2007 and India with 33.6 percent in 2008 — China’s share of savings as a percentage of gross domestic product (GDP) is significantly larger.Nonetheless, the population and social trends that have underpinned China’s growth and savings rates are likely tail off significantly over the next decade, the two Chinese researchers argued.In the wake of the global slump, world leaders and economists have been asking China to spend more, rather than pin its economic growth on exports to the West, in order to help address world trade imbalances.Ma, a BIS economist and Wang, who is from the Chinese central bank, said however that the current savings trend by Chinese households will not last.The swelling working population in recent years has boosted savings in recent years, they said.In addition, large-scale corporate restructuring between 1995 and 2005 increased job uncertainty, forcing workers to set aside more money in case they were fired. The lack of a social safety net also pushed workers to make “precautionary savings.”Beyond households, government savings have also been increasing in tandem, as more is being set aside to meet pension needs which are expected to rise significantly as the population ages.However, these trends are expected to be reversed in coming years.“It is reasonable to assume that the large-scale labor retrenchment observed during 1995 to 2008 is by and large been behind us,” say the researchers.In addition, China is expected to enter into a phase of “accelerated population ageing within a decade.” This means that the workforce will decline, leading to a fall in overall income and therefore savings.At the same time, infrastructure spending is expected to continue, in order to provide for the ageing population and the urbanization of the country.
ASTANA, June 11 (Xinhua) -- Chinese President Hu Jintao arrived here Friday evening for a two-day state visit to Kazakhstan.Hu said in a statement released upon arrival at the airport that, with the effort of both sides, his visit would be a total success and help advance the strategic partnership between China and Kazakhstan to a new stage.During the visit, Hu will hold talks with his Kazakh counterpart Nursultan Nazarbayev and meet with parliament and government leaders.The two sides will outline the future development of bilateral links. They will decide on the key tasks and areas of bilateral cooperation in the next stage and exchange views on major international and regional issues of common concern. Chinese President Hu Jintao (R Front) shakes hands with Kazakh Prime Minister Karim Masimov upon his arrival in Astana for a state visit to Kazakhstan, on June 11, 2010.During Hu's visit, the two sides will sign a number of agreements on trade and economic cooperation.In recent years, the China-Kazakhstan strategic partnership has developed rapidly as frequent high-level exchanges helped deepen political mutual trust.Hu said in the statement that China and Kazakhstan shared a long history of friendly relations at both government and grassroots levels.He said, since the two countries established diplomatic links 18 years ago, bilateral relations had maintained a momentum of vigorous growth. Bilateral cooperation in the areas of politics, economy, trade, energy, security and culture had been fruitful.Hu said the two countries stood firm in reciprocal support on major and sensitive issues of each other's concern, adding the two sides had cooperated closely within multilateral frameworks such as the United Nations, the Shanghai Cooperation Organization (SCO) and the Conference on Interaction and Confidence-Building Measures in Asia.Hu said the cooperation had brought about substantial benefits to the people of both countries and played a positive role in promoting regional peace, stability and development.Hu was greeted at the airport by Kazakh Prime Minister Karim Masimov and other government officials.Before arriving in Astana, Hu paid a state visit to Uzbekistan and attended an annual SCO summit in Tashkent.Kazakhstan is the final leg of Hu's two-nation Central Asia trip. He returns home Saturday.
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