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NAIROBI, Feb. 8 (Xinhua) -- Chinese President Hu Jintao will pay state visits to the African countries of Mali, Senegal, Tanzania and Mauritius in mid-February, his second trip to the continent in search for closer cooperation since the 2006 Beijing Summit of the Forum on China-Africa Cooperation. The top-level visit follows a four-nation African tour by Chinese Foreign Minister Yang Jiechi in intensified efforts to forge full partnership with Africa. China and African countries have made great achievements in developing a new type of strategic partnership since the Beijing Summit, with more frequent high-level exchanges. Three months after the summit, President Hu Jintao embarked an African tour of eight countries initiating the process of implementing the achievements of the summit to benefit the continent. Some senior Chinese officials also went to Africa on friendly missions in 2008. On African side, more than 20 leaders visited China last year, attending the opening ceremonies of the Beijing Olympics and Paralympics or watching the Olympic Games. African countries have always been supportive on issues concerning China's core interests since the establishment of diplomatic ties decades ago and offered aid and support to China's quake relief efforts last year, showing the deep friendship between the two sides. China cherishes the support from the continent and pledges to further implement the achievements of Beijing Summit by helping African countries maintain political stability and boost economic development. China devised an eight-measure policy to enhance economic and trade cooperation with Africa in 2006 Beijing Summit, including assistance, preferential finance, construction of a conference center for the African Union, debt cancellation, more African market share in China, professional training, and establishment of trade and economic cooperation zones in Africa. The policy has been effectively carried out with remarkable achievements in the past two years. By the end of 2008, the China-Africa Fund had invested nearly 400 million U.S. dollars in 20 projects, generating an investment in Africa by Chinese enterprises to about 2 billion dollars. Bilateral trade hit 106.8 billion dollars in 2008, after exceeding 10 billion dollars in 2000. The made-in-China brand finds its way into African families, while market share for a variety of African commodities in China has also snowballed. China has also cancelled part of debts for the most indebted and least developed countries in Africa, at the same time, lifting tariffs on imports from those countries. In addition, the construction of economic and trade zones or duty free trade zones in Africa is progressing smoothly, including the Zambia-China Economic and Trade Cooperation Zone, the Guangdong Economic and Trade Cooperation Zone in Nigeria and the Lekky Duty Free Trade Zone in Lagos, Nigeria, the Egypt-Suez Economic and Trade Zone and Ethiopian Orient Industrial Park. Cultural exchanges have also been active and fruitful between the two sides. African song and dance have gained their audience in China and China's Confucius Institute has also taken root in Africa since its first landing in the University of Nairobi, Kenya, in December 2005. Cooperation and exchanges between China and Africa have enhanced friendship and understanding between the two peoples. Malian President Amadou Toumany Toure, whose country is the first in sub-Saharan Africa to establish diplomatic ties with China, applauded the Chinese President's upcoming visit, hoping it will bring bilateral cooperation to a new height. Mali will warmly welcome President Hu, Toure said, adding that he will invite Hu to attend the inauguration of a China-aid bridge project in the country's capital Bamako. Senegal is also looking forward to Hu's visit. Abdoulaye Balde, spokesman for the presidential office, said his country was bracing itself for the first visit by a Chinese head of state since the two countries resumed diplomatic ties three years ago. Senegalese President Abdoulaye Wade visited China twice in 2006 in a bid to boost bilateral ties, Balde said, expressing his belief that the top-level exchange would give impetus to the development of strategic partnership between the two countries. Officials in Tanzania and Mauritius also welcome Hu's upcoming visits, hoping to further enhance cooperation with China, which they see as a rising power that will benefit Africa as well as other developing nations.
BEIJING, March 18 (Xinhua) -- China's State Council (Cabinet) called Wednesday for thorough implementation of this year's government work report in face of the worsening global downturn. Since the 2nd Session of the 11th National People's Congress (NPC), the top legislature, endorsed the report delivered by Premier Wen Jiabao on March 5, it was now the task of the State Council and its subordinate bodies to implement the report, said the meeting chaired by Wen. Government work this year should follow the main themes of coping with the financial crisis, promoting steady, relatively fast economic development, and fully implementing the stimulus plan to shore up the economy, it said. Ministries should perform their duties, draw up and execute their implementation plans and coordinate with each other, it said. The meeting said the global downturn was still worsening, and although some regions and trades in China had shown signs of recovery, difficulties still lay ahead. It called for the establishment of surveillance and early warning system and immediate actions if problems were detected. The meeting also approved in principle a medium- and long-term plan for forest fire prevention and a draft law on the armed police. After further revision, the draft law goes to the NPC Standing Committee for deliberation
BEIJING, Feb. 17 (Xinhua) -- China and Russia on Tuesday signed seven agreements on a package cooperation program for energy resources. The agreements include a pipeline construction project, a long-term crude oil trading deal and a financing scheme between the China Development Bank and the Russia Oil Pipeline Transport Company, according to a source with the Chinese Foreign Ministry. Chinese Premier Wen Jiabao (R) meets with Russian Deputy Prime Minister Igor Sechin at Zhongnanhai in Beijing, China, on Feb. 17, 2009According to the agreements, the crude oil trading volume is estimated to reach 15 million tonnes, the source added. The signing ceremony was witnessed by Chinese Vice Premier Wang Qishan and visiting Russian Deputy Prime Minister Igor Sechin. During the previous talks held between the two, Wang highlighted that the strengthening of the bilateral energy cooperation between the two sides would help stabilize the two economies. "We hope the two sides will give a full play to the bilateral energy negotiation mechanism to promote the bilateral energy cooperation to score substantial outcomes," Wang told Sechin. The Russian deputy prime minister agreed with Wang's views, calling on the two countries to step up cooperation in such fields as energy and finance and make joint efforts to guarantee the contracted projects be implemented according to the agreed roadmap and schedule. The two sides also agreed that the bilateral energy cooperation already scored a "substantial step forward." Chinese Vice Premier Wang Qishan (R) shakes hands with his Russian counterpart Igor Sechin at the Great Hall of the People in Beijing, capital of China, Feb. 17, 2009. Senior Chinese and Russian officials headed by Wang and Sechin held a high-level energy negotiators' meeting here on Tuesday.In a following meeting with Chinese Premier Wen Jiabao, Sechin said that the achievements of this visit indicated the high level of the bilateral strategic partnership of cooperation. Russia would work with China to make more achievements to celebrate this year's 60th anniversary of forging diplomatic ties, Sechin said. Wen said the agreements are fruits of friendly and strategic cooperation between the two countries, adding the cooperation is of high significance for the two countries to work together to cope with the international financial crisis and advance their relations. The energy cooperation between the two nations is long-term, comprehensive and sustainable, Wen said, hoping that the related organs would act promptly to implement all the agreements. Official statistics showed that Russian-Chinese bilateral trade posted a rapid growth in the first half of last year but slowed in the second half, especially in the fourth quarter, as the global economic turmoil spread. Trade between the two countries was valued at 56.8 billion U.S. dollars last year, up 18 percent year-on-year. It was sharply down from 44.3 percent of growth rate in 2007, according to data from the General Administration of Customs. Russia's gross domestic product (GDP) grew only 5.6 percent year-on-year in 2008 because of the financial crisis and drastic decline in income from oil exports. The growth rate was 2.5 percentage points lower than a year-earlier level.
BEIJING, March 30 (Xinhua) -- Aluminum Corporation of China Ltd. (Chalco), reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008, due to product price fluctuations on the international market, the company's annual report revealed Monday. "The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement. The shock from the financial crisis, rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement. Chalco's business turnover reached 76.73 billion yuan, down 9.94 percent from last year, largely because of a decline in product prices, said a statement submitted to the Shanghai Stock Exchange. The price of alumina, a major type of aluminum product, which at one point reached 4,500 yuan per tonne in the domestic market in 2008, dropped to 1,900 yuan per tonne as demand shrank drastically because of the financial crisis, said the statement. Board chairman Luo Jianchuan said the company should actively cope with the problem, which would persist in 2009. Measures should be taken to cut cost, control investment, and maintain stable production. Though estimated to suffer losses in the first quarter this year, Chalco was confident it would "get over the difficulties and have a bright prospect," said Luo. Share prices of Chalco on Shanghai Stock Exchange plunged more than 4 percent to 10.46 yuan Monday morning. Aluminum Corporation of China (Chinalco), Chalco's parent company, had obtained support from four Chinese banks, including the Bank of China (BOC), to finance its bid for the world's third largest miner Rio Tinto. They have signed agreements to provide 21 billion U.S. dollars worth of syndicated loans to support the bid.
LONDON, April 3 (Xinhua) -- As the curtain dropped on the G20 London summit, Chinese Commerce Minister Chen Deming on Friday reiterated China's opposition to protectionism and voiced support for cooperation. "This summit has yielded a series of positive and pragmatic results for the international society to jointly tackle the current financial crisis," Chen said. He said it included reaching broad consensus on stabilizing international financial markets, speeding up reform of the international financial system, actively pushing forward the Doha round talks, and opposing trade protectionism. Chen said history and experiences have proved that protectionism will only drag the world economy into deeper recession. As the crisis is worsening, people have increasingly realized the necessity and urgency to reject protectionism, he said. Chinese President Hu Jintao pointed out at the G20 summit that facing the impact of the international financial crisis, China will continue to stick to its opening-up and reform policy, and unswervingly adopt the mutually-beneficial and win-win strategy. China will not turn to protectionism just because it is encountering some temporary difficulties during the process of economic development, he said. What the world needs now, Chen said, is to adopt economic stimulus plans to jointly overcome the difficulties and to recover economies. At this critical time, people must be especially cautious about protectionism, preventing it from sabotaging all the efforts that the world has done so far, he said. "China will act responsibly, seriously implement the agreements reached at the G20 summit, in efforts to push forward the world economy, as well promote the development of international trade," Chen said. He proposed that the international community jointly maintain a fair and open international trade environment, protect the authority and seriousness of multilateral trade regulations, actively push forward the Doha round talks, and jointly resist protectionism. Chen noted that despite all the anti-protectionism claims by many countries, protectionist measures are in fact making inroads since the outbreak of the financial crisis. China supports the G20 agreement to extend the ban on protectionism until the end of 2010, however, it remains difficult to define protectionism and unreasonable trade restriction measures, Chen said. All measures not allowed by the WTO are considered protectionist, and therefore should not be allowed to be implemented, he said. Chen also raised concerns over the possible misuse of some measures permitted by the WTO, such as trade subsidy, and urged restraint. The WTO members should try not to use, or use with discretion protectionist policies, so as to create a sound climate for promoting free trade, he said. Currently, the WTO has established a monitoring mechanism, with periodical reports on its members' actions, a move conducive to curbing protectionism, Chen said. Protectionism is on the rise since the crisis, but it still falls short of being rampant, which indicates the global multilateral trade rules remain effective to some extent, he said. China supports the establishment of such a WTO supervision mechanism, he said. China has firmly reiterated its opposition to protectionism, Chen said, noting that China's measures taken since the crisis are considered positive by both WTO Director General Pascal Lamy and EU Trade Commissioner Catherine Ashton. China's economic stimulus measures complied with the WTO rules, he said. Chen also said the Doha round trade talks are of great significance in promoting the development of the multilateral trade system and a successful deal would strongly promote global economic growth. History over the past century has proved that trade grows faster than economy, and it is trade that pushes forward economic growth, he said. Chen urged flexibility by major countries to push forward the Doha negotiations. "With joint efforts by various parties, we remain optimistic about the outcome of the Doha round talks," he said.