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LIMA, Nov. 20 (Xinhua) -- China is willing to make concerted efforts with Latin American countries to establish a comprehensive cooperative partnership of equality, mutual benefit and common development, Chinese President Hu Jintao said here Thursday. China, as the largest developing country in the world, is willing to work with Latin America, an important developing region, to boost mutual cooperation to a higher level, which conforms to the trends of the times and their respective development needs, President Hu said in his address to the Peruvian Congress. Hu put forward five proposals to boost Sino-Latin American ties. Firstly, China and Latin American countries should maintain high-level exchanges and contacts, improve bilateral and multilateral political consultation and dialogue systems at various levels, while continuously enhancing mutual political trust. Secondly, to deepen mutually beneficial cooperation in economy and trade, China and Latin America should optimize trade structure and increase mutual investment, especially in the fields of manufacturing, infrastructure construction, energy, minerals, agriculture and high technology, said Hu. China is willing to continue providing assistance for the economic and social development of Latin American and Caribbean countries within its ability, Hu said. Thirdly, China and Latin American countries should enhance communication and coordination on their stances on such global issues as climate change, food security, energy and finance, multilateral trade system and the UN Millennium Development Goals. Under the current complex international financial and economic situation, China and Latin America should join hands and participate in the framing of international economic, financial and trade rules, so as to help the international economy develop in a fairer and more reasonable direction, the Chinese president said. Fourthly, Hu said China and Latin America should learn from each other and make progress in the fields of social welfare and development. Both sides should carry out pragmatic cooperation in poverty reduction, education, social security, medical and health care, environmental protection and disaster relief, he said. Finally, both sides should take effective measures to deepen and boost cooperation in culture, sports, media and tourism, said Hu. The Chinese leader arrived in Lima on Wednesday for a state visit to Peru and the APEC Economic Leaders' Meeting scheduled for Nov. 22-23. During his speech, Hu said that to forge the comprehensive cooperative partnership, both sides should first grasp the theme of common development because development is a basic way to improve people's well-being and promote social development. He added that both China and Latin America are at a crucial time of development and China is willing to expand pragmatic cooperation with Latin American countries in various fields to boost common development. The president said that to forge the comprehensive cooperative partnership, both sides also need to pursue the basic principle of equality and mutual benefit. According to Hu, China will unswervingly follow the path of peaceful development and uphold the opening up strategy of mutual benefit and win-win progress. It maintains that all countries, big or small, rich or poor, strong or weak, should be equal and regards safeguarding and developing the common interests of China and Latin American countries as the starting point and the purpose of bilateral cooperation. China respects the rights of people in Latin American countries to independently choose their paths of development, treats Latin American countries equally and takes into account their concerns in cooperation in a bid to realize mutual benefit and win-win results. Hu stressed that innovation and all-round cooperation are also required to build China-Latin America comprehensive cooperative partnership. He added that China is willing to work with Latin American countries to innovate their cooperation mode, expand their cooperation field, and enrich cooperation content in order to achieve more tangible results and better benefit their peoples. Hu said that he has agreed with his Peruvian counterpart Alan Garcia to build a strategic partnership between the two countries. "We have agreed to build a China-Peru strategic partnership and strive to deepen and enrich the mutually-beneficial cooperation between the two countries in all fields," Hu said. Peru, which is one of the fastest growing economies amongst Latin American nations, is playing an increasingly important role in the world and regional affairs, he said. Recalling the long history of friendship between the Chinese and Peruvian peoples, Hu said their mutual political trust is ever expanding and cooperation and exchanges in various fields is developing rapidly in an all-around way. China and Peru have each other's support and have worked closely in dealing with international affairs, Hu said. China has become Peru's second largest trading partner and Peru is one of the major destinations for Chinese investment in Latin America. Hu had talks with Garcia on Wednesday afternoon on efforts to expand mutually beneficial cooperation and further develop bilateral relations. "We've come to the agreement that China and Peru, both developing nations, share wide common interests and the same target for development. Strengthening their links is not only in keeping with the fundamental interests of the two countries and their peoples, but also conducive to exchanges and cooperation between the Asian and Latin American regions," Hu said. "China has always attached strategic importance to promoting cooperation with Latin America," Hu said. "I made it clear that China hopes to become a trustworthy and all-weather friend, a mutually beneficial cooperative partner of Latin America and make the two a role model for active dialogues between different civilizations when I visited the region in 2004," the president said. Hu thanked Latin American countries for their aid during the devastating earthquake in southwest China in May and their support for China on Taiwan, Tibet and other issues. Hailing the rapid expansion of trade between China and the region, Hu noted that their trade reached the threshold of 100 billion U.S. dollars last year, an over ten-fold increase compared to 10 years ago. In addition, their cultural exchanges continue to grow with an increasing number of events featuring each other's cultures and more tourist arrivals and exchange students, Hu said. Confucius Institutes have been set up in more and more Latin American nations and many renowned media in the region have set up their branches in Beijing, he said. The mutual understanding and friendship between the Chinese and Latin American peoples is ever deepening, while the foundations of their ties have further consolidated and China and Latin America are facing more opportunities for the future development of their relations, Hu said.
BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading. Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis. "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday. "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said. Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis. It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said. According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year. With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said. Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities. Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said. "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said. In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.
BEIJING, Oct. 27 (Xinhua) -- General Secretary of the Communist Party of China (CPC) Central Committee Hu Jintao has urged Party schools at all levels to play more important roles in the Party and country's development. Hu, also Chinese President and Chairman of the Central Military Commission, made the remark when he gave a keynote speech to a meeting attended by delegates of the Party schools across the country in Beijing on Monday. General Secretary of the Communist Party of China (CPC) Central Committee Hu Jintao (C), also Chinese President and Chairman of the Central Military Commission, gives a keynote speech to a meeting attended by delegates of the Party schools across the country in Beijing, capital of China, Oct. 27, 2008. Xi Jinping (2nd L), president of the Party School of the CPC Central Committee and also member of the Standing Committee of the Political Bureau of the CPC Central Committee, chaired the meeting. Senior leaders Li Changchun (2nd R), He Guoqiang (1st R) and Zhou Yongkang (1st L) also attended the meetingIn his speech, Hu stressed that to deal with various challenges and problems foreign and domestic, the Party and the government need a large number of officials who are capable, clean-handed and whom the people could trust. "Party schools at all levels have an important responsibility in training and improving official's capabilities," Hu said in his speech. "Party committees at all levels should regard the Party school construction as one of the fundamental works." Hu urged Party schools to adopt reforms and innovative policies in improving their qualities of education. Party schools should act as a main channel for the Party to train officials on a large scale and increase their abilities to take both foreign and domestic situations into policy making, Hu said. Party schools should also help the officials improve their abilities to govern the Party itself and resolve its internal problems, he added. He said that Party schools should act as an important theoretical academy of the Communist Party. Party schools are expected to provide theories of socialism with Chinese characteristics and make the theories understandable, acceptable and adoptable for the officials. Innovation in socialism theories should be an essential job for the Party schools, Hu said in the speech, adding that the schools should also unite theories with practice and serve the Party and governments at all levels in decision making. Another important role that the Party schools should play is imparting modern scientific knowledge, Hu said. Party schools should cultivate officials with more loyalty to the Party, he said. Xi Jinping, president of the Party School of the CPC Central Committee and also member of the Standing Committee of the Political Bureau of the CPC Central Committee, chaired the meeting. Senior leaders Li Changchun, He Guoqiang and Zhou Yongkang also attended the meeting.
BEIJING, Jan. 18 (Xinhua) -- The State Grid Corp. of China (SGCC), the country's biggest power supplier, said Sunday that its 2008 net profit fell almost 80 percent year on year due to natural disasters and higher power prices. Net profit was 9.66 billion yuan (1.4 billion U.S. dollars), compared with 47.1 billion yuan in 2007. Revenue rose 13.8 percent to 1.156 trillion yuan from a year earlier, the state-owned company noted. The power distributor suffered more than 22 billion yuan (3.2 billion U.S. dollars) of direct economic loss in the worst winter weather in at least 50 years in southern China and the May 12 earthquake. China raised the on-grid power price by 0.017 yuan per kwh in June and 0.02 yuan kwh in August to around 0.3 yuan per kwh on average to offset rising costs in power plants. But retail household power prices were capped amid concerns of a higher inflation. The company said it planned to invest 83 billion yuan (12 billion U.S. dollars) in ultra-high voltage (UHV) power lines in 2009 and 2010 to make long-distance transmission more efficient. China's power demand and installed power generating capacity would likely double to 7.4 trillion kwh and 1.47 billion kw respectively in 2020, it forecasted.
LANZHOU, Jan. 18 (Xinhua) -- Chinese Vice Premier Li Keqiang urged the restoration of people's livelihood in the quake-hit regions during his visit in northwestern Gansu Province between Jan. 15 and Jan. 17. Some areas of Gansu were shattered by the devastating May 12 earthquake centered in Wenchuan of neighboring Sichuan Province last year. Chinese Vice Premier Li Keqiang (R) visits poor villager Liao Zhenxiang in Hedong Village of Longnan City, in northwest China's Gansu Province, on Jan. 16, 2009. Li Keqiang, also a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, made an inspection tour in Gansu Province from Jan. 15 through 17. Efforts should be made to ensure that all people in the quake-hit regions had enough food to eat, had clothes to resist the cold and were well housed in the freezing winter, Li said when visiting quake-affected villagers. More support should be given to speed up the building of permanent housing with a precondition that the quality must be guaranteed, he said. "Housing construction can not only help quake-affected people restore life as soon as possible, but is also helpful to boost investment, consumption and economic growth," he said. Villager Zhao Danlin (2nd L, front) displays his relief coupon to Chinese Vice Premier Li Keqiang (L, front) in the Longtou Village of Longnan City, in northwest China's Gansu Province, on Jan. 16, 2009He also called for quicker restoration of public facilities, which would serve the economic and social development in the quake-hit regions. During his visit in Longfeng Village, Li talked with some farmers who had returned because of employment difficulty in cities. There were lots of job opportunities in the country, he said. "You can go to the interior region if it is hard to find a job in the coastal area; you can shift to work in the service sector as job opportunities are limited in the industrial sector; you can also start your own business at your hometown without going outside." Li urged governments and departments concerned to provide more training and guidance to help rural workers get a job and guarantee a stable increase in employment.