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BEIJING, Nov. 28 (Xinhua) -- China has vowed to maintain its macroeconomic policy stance in 2010 despite worries that its stimulus is likely to risk fueling new bubbles and overcapacity. A meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee agreed Friday that the country will continue the proactive fiscal policy and moderately easy monetary policy next year. "It is a must for the country to stick to the pro-growth policy stance," said Zhang Liqun, a researcher with the Development Research Center of the State Council, one of China's top think tanks. "A guarantee to the 8-percent growth target this year does not mean the national economy has been on an independent and stable developing track," Zhang said. Many uncertainties, both at home and abroad, still weighed on China's economy and it was quite necessary for the government to maintain its policy stance, said Feng Fei, a senior researcher at the Development Research Center of the State Council. China's economic growth has approached its pre-crisis level a year after the adoption of the 4-trillion-yuan (585.6 billion U.S. dollars) economic stimulus package. The country's economy grew 8.9 percent year on year in the third quarter this year, accelerating from 7.9 percent in the second quarter and 6.1 percent in the first quarter. In the third quarter last year, it increased 9 percent year on year. However, the country's strategy has raised concern that loose money could inflate prices of stocks and housing, build up unneeded factories and saddle the economy with bad debts. Although the current stimulus package had side effects, it was not the time for retreat, said Zhuang Jian, a senior economist with the Asian Development Bank. The government should be aware of the hidden trauma in economic growth and be ready at all time for popping-up problems by improving the policy flexibility, he said. It was important to enhance the flexibility and focus of macro regulation, considering the inflationary expectations, assets bubble risk and rapidly changing economic situation, Feng said. The Political Bureau vowed to enhance the focus and flexibility of economic policy in the following year according to new situations. It would also further implement and enrich the economic stimulus package to make the economy grow in a more stable, balanced and sustainable way. Bureau members agreed the government would maintain continuity and stability in its macroeconomic policies, according to a statement released after the meeting. The barely-changed wording in the statement of the meeting, convened ahead of the annual Central Economic Work Conference, would set the tone for next year's economic work, said Wang Tongsan, a senior researcher with the Chinese Academy of Social Sciences. He noted that the "five highlights" in the statement would be mid- and long-term strategy for economic and social development in China, which would enable the country to grab the opportunity during the crisis. The country would step up efforts to improve the quality and efficiency of economic growth, to promote the transformation of the economic development pattern and structural adjustments and to promote innovation and reform and opening up to enhance the vigor and momentum of economic growth, the statement said. It also urged more efforts to improve people's livelihood and maintain social stability, and to coordinate the domestic and international situation.
BEIJING, Dec. 1 (Xinhua) -- Diplomats from the European Union (EU) member states on Tuesday spoke highly of China's recent promise on its greenhouse gas emissions reduction. "We welcome that national objective of China," EU ambassador to China Serge Abou said at a press conference in response to related questions. China, as the biggest developing nation, set a good example for the international efforts in emissions reduction, he noted. China announced on Nov. 26 that it would reduce the intensity of its carbon dioxide emissions per GDP unit in 2020 by 40 to 45 percent from the 2005 level. Swedish Ambassador to China Mikael Lindstrom, whose country currently holds the rotating EU presidency, told Xinhua that he and his country "have a lot of respect for the series of efforts" that china has made. "The climate change is really a serious global crisis, we cannot fall into a zero-sum game," he said, noting that "we hope it will be win-win, but if we don't do anything it will be lose-lose". As the hosting nation of the Copenhagen climate change conference, Denmark's diplomat Soren Jacobsen welcomed Chinese Premier Wen Jiabao's attendance to the upcoming meeting. China's announcement of its emissions cut promise "is positive", said Soren Jacobsen, Deputy Head of Mission and Minister Counsellor of the Danish embassy to China. Jacobsen hoped that an agreement would be reached at Copenhagen. The diplomats from EU's all member states gathered here at the press conference to mark that the Treaty of Lisbon came into effect on Dec. 1. As stipulated in the Treaty, the Delegation of the European Commission to China was renamed the Delegation of the European Union to China on Tuesday.
MACAO, Dec. 19 (Xinhua) -- Chinese President Hu Jintao said here Saturday that "one country, two systems" had been successfully implemented in both Hong Kong and Macao since their return to the motherland. "The two special administrative regions have accumulated rich experience in the regard, and can learn from each other and make progress together," said the president when meeting with Donald Tsang, chief executive of the Hong Kong Special Administrative Region (SAR) and principal officials of the Hong Kong SAR government. Hu and Tsang arrived here Saturday to attend the celebrations marking the 10th anniversary of Macao's return to the motherland and the inauguration of the third-term government of the Macao SAR. Chinese President Hu Jintao(R) shakes hands with Donald Tsang Yam-kuen, chief executive of the Hong Kong Special Administrative Region (SAR) in Macao SAR in south China on Dec. 19, 2009 The 10th anniversary of Macao's return to the motherland is a festive event not only for the Macao people, but also for the people in Hong Kong and people of all ethnic groups of the nation, said Hu. The president spoke highly of the active efforts by the Hong Kong SAR government and people of all circles, under the leadership of Tsang, in maintaining Hong Kong's prosperity and stability amid the global financial crisis. The president expressed his confidence that through concerted efforts of the Hong Kong SAR government and people of all circles, the Hong Kong economy can be recovered at the earliest time, people's livelihood constantly improved, and the issue of constitutional development properly handled. He was also confident that the Hong Kong SAR government and people of various sectors will also continue to work hard together to create a good social environment of harmony and stability. Tsang thanked the president for the encouragement and support given to him and Hong Kong, pledging that the HKSAR government will do its utmost to sustain Hong Kong's prosperity and stability. Present at the meeting were Liu Yandong, Ling Jihua, Wang Huning, Li Jianguo, Liao Hui and Chen Bingde. Chief Executive of the Macao Special Administrative Region Edmund Ho Hau Wah was also present at the meeting.
RIYADH, Jan. 10 (Xinhua) -- China and Saudi Arabia convened Sunday the fourth meeting of their joint committee on economy and trade in the Saudi capital, co-chaired by Chinese Minister of Commerce Chen Deming and Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf. Chen hailed the rapid growth of bilateral economic and trade ties since the third meeting of the joint committee in 2006, noting that bilateral trade have realized two years in advance the goal of 40 billion U.S. dollars by 2010, and Saudi Arabia has been China's biggest trade partner in West Asia for eight consecutive years. Chinese Minister of Commerce Chen Deming (L) meets with Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf in Riyadh, capital of Saudi Arabia, Jan. 10, 2010. China and Saudi Arabia convened Sunday the fourth meeting of their joint committee on economy and trade in the Saudi capital, co-chaired by Chinese Minister of Commerce Chen Deming and Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf. He made a five-point proposal, in which he said both countries should strive to expand bilateral trade to reach 60 billion dollars by 2015. He also proposed to maintain the long-term and steady crude oil trade between the two sides, in addition to enhancing cooperation on exploiting gas, oil projects and petrochemical industry, and establish a cooperation mechanism on trade remedy. The Chinese minister stressed that both sides should promote the negotiation process on the free trade agreement between China and the Gulf Cooperation Council (GCC). Chinese Minister of Commerce Chen Deming (C, front) and Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf (R, front) sign the meeting summary in Riyadh, capital of Saudi Arabia, Jan. 10, 2010Al-Asaf, for his part, said that Saudi Arabia hopes to see and will provide convenience for more Chinese enterprises to participate in Saudi economic construction as the country is speeding up its petrochemical industry, urban development, and traffic and environmental protection projects. He said Saudi Arabia welcomed the progress in China-GCC FTA negotiation and will work together with the Chinese side to push forward the process for an early completion. The two ministers met the press after the meeting, during which Chen said both sides have agreed to expand the trade volume to 60 billion U.S. dollars by 2015. Chen also met with the Saudi Minister of Commerce and Industry Abdullah bin Ahmad bin Yussef Zainal on Sunday.
HOHHOT, Oct. 20 (Xinhua) -- Police said Tuesday they had shot and killed an escaped prisoner and apprehended three others in north China's Inner Mongolia Autonomous Region. The four escaped on Saturday from the No. 2 Prison in Hohhot, capital of Inner Mongolia, after killing a prison guard, said a spokesman from the regional public security department. Acting on information from local residents, police surrounded the men in Helin County early Tuesday, after they had hijacked a motor tricycle and taken the woman driver hostage. Police shot dead Gao Bo, who resisted arrest and injured a police officer with knife, said the spokesman. Policemen escort an escaped prisoner in Hohhot, capital of north China's Inner Mongolia Autonomous Region, Oct. 20, 2009. Police said Tuesday they had shot and killed one escaped prisoner and apprehended three others in north China's Inner Mongolia Autonomous Region Another man, Qiao Hai, was shot and injured. He had tried to kill himself by cutting his throat with knife and jumping off a building before being captured, the spokesman said. The hostage suffered minor injuries, he said. Police began to hunt for the four, aged from 21 to 28, soon after their escape and the prison management issued an appeal through a local television station for information leading to their arrest. Two of the men were serving suspended death sentences and two were serving life prison terms, said the spokesman without giving details of their convictions. The public security department of Inner Mongolia said 12,300 police and armed police officers had been deployed to search for the escapees, who were regarded as dangerous. Police searched thousands of hotels, nightclubs and Internet bars, questioned 47,500 people and stopped 24,600 vehicles. The four prisoners were on the run for only 66 hours before they were apprehended. "We appreciate the local residents' help in hunting the prisoners," said Zhao Liping, head of the public security department of the region." It's a successful people's war against the criminals."