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SHANGHAI, July 30 (Xinhua) -- China would firmly stick to its moderately easy monetary policy and concrete the recovery momentum of the country's economy, said vice governor of China's central bank on Wednesday. Su Ning, Vice Governor of the People's Bank of China (PBOC) made the remarks in a meeting held in the bank's Shanghai-based headquarter, saying a proactive fiscal policy and moderately easy monetary policy were crucial for sustained growth.     Despite an initial economy recovery resulted from the government's stimulus efforts in the first half, the country still faced severe difficulties and challenges from both domestic and abroad.     In the second half, the PBOC would use a set of monetary policy mix to coordinate a "reasonable" credit structure based on market rules, and to ensure more loans to major infrastructure construction and technology innovation, Said Su.     China's economy rebounded to grow 7.9 percent in the second quarter driven by a surge of fixed-asset investment backed by government's 4-trillion-yuan stimulus package on last September.     Chinese banks lent a record 7.37 trillion yuan in the first half to shore up the economy, which sank to 6.1 percent in the first quarter.

PITTSBURGH, United States, Sept. 25 (Xinhua) -- Chinese President Hu Jintao on Friday called on world leaders to make every effort to promote global economic growth and a comprehensive, balanced and sustainable socioeconomic development.     In a speech at the Group of 20 (G-20) economic summit in Pittsburgh, Hu said the world economy has seen positive signs since the two G-20 summits held in Washington in November and in London in April.     "The international community's confidence has strengthened, financial markets have moved toward stability and the world economy has seen positive signs," the Chinese president said.     Hu warned that the foundation of an economic recovery is not yet solid, and that many uncertainties remain.     "A primary task at present," he said, "is to counter the international financial crisis and promote a healthy world economic recovery." Chinese President Hu Jintao (R5 Front) poses for photos with other participants during the Group of 20 (G20) Financial Summit in Pittsburgh of the U.S., Sept. 25, 2009Hu called for more efforts be made in the following three areas:     -- First, to stand firm in commitment to stimulating economic growth:     "All countries should keep up the intensity of their economic stimulus plans," he said.     Both developed and developing countries should take more solid and effective measures and make a greater effort to boost consumption and expand domestic demand, he said.     "Major reserve currency issuing countries should take into account and balance the implications of their monetary policies for both their own economies and the world," Hu said. Chinese President Hu Jintao (R Front) talks with Canadian Prime Minister Stephen Harper (L Front) during the Group of 20 (G20) Financial Summit in Pittsburgh of the U.S., Sept. 25, 2009-- Second, to stand firm in commitment to advancing reform of the international financial system:     "We should follow through on the timetable and the roadmap agreed upon at the London summit, increase the representation and voice of developing countries and push for substantive progress in the reform," the Chinese president said.     He urged world leaders to improve the existing decision-making process and mechanism in international financial institutions, and encourage more extensive and effective participation of all parties.     "We should move forward the reform of the international financial supervisory and regulatory regime," Hu said.     -- Third, to stand firm in commitment to promoting balanced growth of the global economy:     The global economic imbalances include gaps between savings and consumption, and imports and exports in some countries. But more importantly, he said, it manifests itself in the imbalances in global wealth distribution, resource availability and consumption and the international monetary system.     "The root cause, however, is the yawning development gap between the North and the South," Hu said.     He called on world leaders to build up international institutions that promote balanced development.     "We should scale up input in development in diverse forms ... We should value the important role of technological cooperation in promoting balanced development, reduce man-made barriers to technology transfer, and create an enabling environment for developing countries to narrow the development gap," Hu said.     The Chinese leader said his country has attached great importance to comprehensive, balanced and sustainable socioeconomic growth, and has mainly relied on expanding domestic demand, in mitigating the impact of the international financial crisis.     "In the first half of this year, despite the drastic contraction in overseas demand, China's GDP managed to grow by 7 percent year-on-year," he said.     Hu said that China has taken an active role in international development cooperation, and has been actively engaged in international cooperation to tackle the crisis since it broke out.     He said China will follow through on its assistance pledges and measures in a responsible manner, and within its capabilities offer more help to developing countries, particularly the least developed nations in Africa.     "I am confident that with the concerted efforts of the entire international community, we will prevail over this international financial crisis and usher in a more prosperous future for the world economy," he said.     Leaders from the Group of 20 gathered in Pittsburgh on Thursday and Friday to discuss ways to promote a recovery from the world economic and financial crisis.

BEIJING, Aug. 29 (Xinhua) -- China's limits on the use of plastic bags cut crude oil consumption by 3 million tonnes per year, according to the National Development and Reform Commission (NDRC).     Since June 1, 2008, all Chinese retailers, including supermarkets, department stores and groceries, no longer provided free plastic shopping bags. In addition, China banned ultra-thin plastic bags, or those thinner than 0.025 mm.     China is trying to cut the use of plastic bags in a bid to reduce energy consumption and polluting emissions.     The plastic bag limits could save about 2.4 million to 3.0 million tonnes of crude oil every year and cut 7.6 million to 9.6 million tonnes of carbon dioxide emissions every year, the NDRC said.     The NDRC said it would further implement the regulations and inspect execution of the ban nationwide.     Retailers who did not list shopping bags on the receipts or continued to provide free plastic shopping bags would be fined from 5,000 yuan (732.06 U.S. dollars) to 10,000 yuan, according to the State Administration for Industry and Commerce.

URUMQI, July 22 (Xinhua) -- A key expressway in northwest China's Xinjiang Uygur Autonomous Region began construction on Wednesday in a move to improve the region's road network and serve its economic development.     The 135-km expressway will link Kuytun City to Karamay City. The project, funded by the central government and Xinjiang regional government, will cost 3.87 billion yuan (about 567 million U.S. dollars).     The road is bidirectional with four lanes. It will be completed and put into use in November 2011.     Dai Gongxing, vice chairman of the Xinjiang regional government, said at the groundbreaking ceremony in Kuytun that the expressway, also part of the national expressway network, would improve the regional transport and promote local economic development.

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