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WASHINGTON, Oct. 11 (Xinhua) -- Deputy Governor of the People's Bank of China Yi Gang called for international cooperation here on Saturday to restore global financial stability. "Our current priority is to enhance international cooperation to prevent further deterioration and spillover of the crisis and restore global economic and financial stability," Yi said. The deepening and widening of the U.S. financial crisis have triggered a major global slowdown and escalating uncertainty, Yi Gang said in a statement at the 18th meeting of the International Monetary and Financial Committee (IMFC) held here Saturday. While the advanced economies have slowed significantly since the U.S. sub-prime crisis, the emerging market economies have maintained robust growth but the deteriorating external environment is putting the resilience of their macroeconomic policies to the test, he said. The crisis has underscored shortcomings in the financial markets, Yi said. He expressed his hope that the stabilizing measures of the advanced economies will have the positive effect of calming the markets and restoring confidence. "China is willing to strengthen its cooperation with other countries and, through such joint efforts, we hope global financial stability can be safeguarded," he said. In line with their status, Yi said, the major reserve currency issuing countries should shoulder the responsibility for preventing further spillovers and minimizing shocks to other economies -- especially to the emerging markets. To promote balanced and steady global growth over the longer term, efforts should be made to advance structural reforms and increase savings, he pointed out. The International Monetary Fund -- at the core of the international monetary system -- should carry out its mandate to safeguard global economic and financial stability, he said. The IMFC is the steering committee of the 185-nation lending institution. Yi also noted that as the impact of the crisis on the real economy is much worse than expected and the recovery more protracted and difficult, the risks of deflation in some countries as a result of the credit crunch have increased significantly. "It is imperative that the major advanced economies coordinate rapid implementation of bailout packages to avoid deflation and facilitate the global recovery," said Yi. "However, we should be aware that the injection of liquidity from these emergency measures could be a potential source of inflation in the medium and long term," the deputy governor said.
UNITED NATIONS, Oct. 3 (Xinhua) -- The United Nations and China will co-organize a high-level meeting on climate change early next month, with a special focus on technology development and transfer, the world body announced Friday. UN Undersecretary-General for Economic and Social Affairs Sha Zukang and China's Deputy Permanent Representative to the United Nations Liu Zhenmin briefed member states at the UN Headquarters on the Nov. 7-8 Beijing High-Level Conference on Climate Change: Technology Development and Technology. "Technology transfer is of enormous importance in tackling climate change," Sha said. "Together with financing technology transfer, it is one of the means of achieving adaptation and mitigation action." Effective international action on climate change will require progress on the question of technology transfer, which is addressed in the UN Framework Convention on Climate Change (UNFCCC)and also forms a core aspect of the Bali Action Plan, Sha noted. "In this context, the conference will provide a forum for open, practical and pragmatic discussions on technology transfer and climate change," Sha said. "The conference will focus on practical options and solutions for overcoming barriers to technology development and transfer." "We hope it will be an opportunity for member states and other stakeholders engage openly, away from the constraints of the negotiating setting," he said. Sha said that the aim of the conference is to support the UNFCCC process, particularly the forthcoming UN Climate Change Conference in Poznan, Poland in December 2008. Calling for "broad, high-level participation from member states," Sha said that the conference will be opened by Chinese Premier Wen Jiabao and that UNFCCC Executive Secretary Yvo de Boer and former British Prime Minister Tony Blair have confirmed their participation. In his remarks, Liu said that over the years, the international efforts to develop and transfer clean technologies are lagged behind the needs, and the relevant mechanism and financial support are not yet put in place. With many countries having divergent views on the issue, communication and dialogue will help countries deepen mutual understanding, find common ground and work together to promote technological development and transfer, Liu said. "The purpose of the high-level conference is to provide a platform of dialogue for international cooperation in the relevant technological development and transfer," Liu said. "We hope this conference will help countries form some consensus on development and transfer of technologies for addressing climate change so as to further promote the efforts to address climate change," Liu noted.
BEIJING, July 21 (Xinhua) -- Chinese Vice President Xi Jinping called for a high-level Beijing Olympics by providing a secure environment, good media services and strict anti-doping work for the Games. The preparatory work for next month's Olympics were effective, and the preparation for security, media services and doping inspection had achieved a first-class level worldwide, Xi said here on Monday when touring the Games' command center and several of the venues. Xi, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, thought highly of the Beijing security work, saying the capital had laid a good foundation for the safety work. He praised the human-orientated facilities and equipment in the media village. Chinese Vice President Xi Jinping (C) shakes hands with a drug supervisor for the Olympic Games, in Beijing, capital of China, July 21, 2008. Xi inspected the security work, medias operation and drug supervision for the upcoming Olympic Games Monday. When visiting the new International Broadcast Center (IBC), he encouraged all the reporters present to spread the happiness of watching Olympics to the global audience of billions. Afterwards, Xi held court at the Beijing Olympic Sports Center, stressing to further detail the security and emergency plans to achieve a more strict control over safety issues. He told Chinese journalists to provide more professional work for the global audience. He also called for "zero tolerance" on doping, stressing a clean and fair environment for all participating athletes.
MIANYANG, Sichuan, May 22 (Xinhua) -- Ten days after the devastating earthquake in southwest China, six days after he returned to Beijing, Premier Wen Jiabao was back on the front lines of quake relief. He flew to Mianyang in Sichuan Province, one of the worst hit cities, on Thursday afternoon. Upon arrival, he conducted a fly-over inspection by helicopter of a "quake lake," which is formed by landslides that block rivers. People would have found him on the same tight schedule early this year as Wen visited the regions hit by the worst winter weather in 50 years four times in nine days. The Hong Kong-based daily Ta Kung Pao said in a commentary: "Chinese premiers have developed an image of being caring and conscientious since late Zhou Enlai, the first premier of the People's Republic of China." When a 6.8-magnitude earthquake rocked Xingtai, in the northern Hebei Province in 1966, Zhou rushed to the region and oversaw relief work, risking aftershocks, Du Xiuxian, a photographer of Zhou's era, recalled in his published photographic memoir "The Last Legends." Wen has inherited that tradition of Chinese premiership. Chinese Premier Wen Jiabao (C) talks to local officials in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work. Two hours after the quake rocked Wenchuan County in the northwestern mountainous region of Sichuan Province, he was in theair. As a large part of the country felt the tremors and experienced great shock, Wen promised the country in front of China Central Television (CCTV) camera that the government would lead the people to win the battle against the earthquake. "Confronted with the disaster, we need composure, confidence, courage and an effective command," he said with a sober and steadfast attitude. During the next four days, Wen set foot in almost all of the worst-hit counties, walking over rocks and tiles, comforting weeping children and encouraging rescuers. He made it very clear that the top task at the initial stage was to save lives, and he pressed officials and troops very hard to implement rescue work. Back in Beijing on May 16, Wen did not relax but hosted several key meetings on rescue and relief work. Observers found that he has presided over at least 13 high-level meetings since the quake. At these meetings, the topics under discussion ranged from big issues such as the top priorities of the relief task force to tiny details like milk powder for infants. He stressed prevention of epidemics and handling of victims' corpses, told an expert team to give scientific and technical support to rescue and relief work, and worked out solutions to homeless survivors' problems. While guidelines were set for relief work, detailed orders were made as well, such as to send 6,000 temporary houses within two days and order rescue teams to reach all remote quake-hit villages within 24 hours. Chinese Premier Wen Jiabao (R) shakes hands with a soldier in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work.Rehabilitation was also discussed and a directive was issued to fully consider the geological conditions and bearing capability of the local environment so as to balance cities and rural areas, industry and agriculture. The focus has shifted from rescue to rehabilitation of quake survivors and their communities, he said Thursday while en route to Sichuan. The latter "will be a harder and long-term task," he said. Chinese are captivated by what the premier has done. Chen Hui, a middle-aged mother in Chongqing Municipality near Sichuan that was also affected by the quake, participated in a text message prayer campaign for Wen. She sent a text message to her son in Beijing, saying: "The 66-year-old Premier Wen has worked really hard for quake relief. He has comforted and moved us. Pass this on your friends, pray for him." Chen received the message from a friend. The campaign, whose organizer is unknown, aims to collect 1 million prayer text messages. A compilation of scenes of Wen's visit to Sichuan is popular on-line and Netizens have created a forum called "Premier Wen, we love you." "As one of China's senior leaders, the premier not only manages the government's daily work but also displays the ruling party's ideals and principles personally," Ta Kung Pao said. "A premier of China can not be copied elsewhere."
NANNING, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao said here Sunday that China's financial institutions have generally increased their strength, profitability and risk-resisting ability, and the financial system as a whole is sound and safe in face of the international financial crisis. Wen made the remarks during an inspection tour to Guangxi Zhuang Autonomous Region in southwest China. Chinese Premier Wen Jiabao greets workers as he visits an oil refinery under construction in Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 4, 2008. He said that the world economic situation has had dramatic changes this year, the United States' subprime crisis has been deteriorating and is having an increasingly serious negative impact on the world's financial market and the world economy as a whole. Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development. As a result, the country's economy has maintained its momentum of smooth and rapid development, Wen said. Generally speaking, China's economic foundations have not changed and the economy is developing towards the preset macro control targets, said the Premier. "We have full confidence in China's economic development and financial stability," Wen said, stressing that the most important thing is to do our own business well, maintain the stability of the economy and the financial and capital markets. "It is the biggest contribution to the world when a big country with a population of 1.3 billion is able to maintain a lasting, smooth and fast economic development," he said. On Saturday and Sunday, Wen inspected villages and factories in the cities of Beihai, Qinzhou and Fangchenggang, and talked with local people of different nationalities and from all walks of life. He said that the development of Beibu Gulf should focus on technological innovation and environmental protection to build into an important zone for international and regional economic cooperation. In Gaosha Village of Qinzhou, Wen inspected rice paddy and visited farmers' homes. He said that the government will further reinforce its support for agriculture, continue to increase subsidies to farmers and raise the minimum grain purchasing prices to mobilize farmers to produce more grain.Chinese Premier Wen Jiabao examines the growth of paddy at Gaosha Village in the Qinnan District of Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 5, 2008. Wen made an inspection tour in Guangxi on Oct. 4-5.