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WASHINGTON, Nov. 15 (Xinhua) -- Chinese President Hu Jintao on Saturday called on the international community to make concerted efforts to tide over difficulties arising from the global financial crisis. Hu made the appeal while addressing a summit meeting of the Group of Twenty (G20) on financial markets and the world economy in Washington. RESTORE MARKET CONFIDENCE President Hu urged the international community to take all necessary steps to promptly restore market confidence and stop the spread and development of the financial crisis. "The international financial crisis has now spread from some parts of the world to the entire globe, from developed countries to emerging markets, and from the financial sector to the real economy," said Hu, who arrived here Friday for the G20 summit. "To effectively deal with the financial crisis, all countries should strengthen confidence and intensify coordination and cooperation," he stressed. To deal with the crisis, Hu said major developed countries "should undertake their due responsibilities and obligations, implement macroeconomic policies that are conducive to economic and financial stability and growth both at home and internationally, take active steps to stabilize their own and the international financial markets and safeguard investors' interests." "Meanwhile, we should all enhance macroeconomic policy coordination, expand economic and financial information sharing, and deepen cooperation in international financial regulation so as to create necessary conditions for stability in both domestic and international markets," Hu added. REFORM INTERNATIONAL FINANCIAL SYSTEM Hu urged the international community to earnestly draw lessons from the ongoing financial crisis and, based on full consultations among all stakeholders, undertake necessary reform of the international financial system. "Reform of the international financial system should aim at establishing a new international financial order that is fair, just, inclusive and orderly and fostering an institutional environment conducive to sound global economic development," Hu said. He said the reform should be conducted in a comprehensive, balanced, incremental and result-oriented manner. "A comprehensive reform is one that has a general design and includes measures to improve not only the international financial system, monetary system and financial institutions, but also international financial rules and procedures," he noted. "A balanced reform is one that is based on overall consideration and seeks a balance among the interests of all parties," Hu said. "An incremental reform is one that seeks gradual progress," said the president, adding that it should proceed in a phased manner, starting with the easier issues, and achieve the final objectives of reform through sustained efforts. "A result-oriented reform is one that lays emphasis on practical results. All reform measures should contribute to international financial stability and global economic growth as well as the well being of people in all countries," he stressed. Based on those considerations, Hu listed four priorities in reforming the international financial system -- stepping up international cooperation in financial regulation; advancing reform of international financial institutions; encouraging regional financial cooperation; and improving the international currency system. HELP DEVELOPING COUNTRIES COPE WITH CRISIS President Hu also called for international efforts to help developing countries and the least developed countries cope with the global financial crisis. "When coping with the financial crisis, the international community should pay particular attention to the damage of the crisis on developing countries, especially the least developed countries (LDCs), and do all it can to minimize the damage." It is necessary to help developing countries maintain financial stability and economic growth, sustain and increase assistance to developing countries, and maintain economic and financial stability in developing countries, he said. CHINA TO PLAY CONSTRUCTIVE ROLE Responding to natural disasters and the global financial crisis, China has made timely adjustment to its policies and strengthened macroeconomic regulation, Hu said. "Steady and relatively fast growth in China is in itself an important contribution to international financial stability and world economic growth," he noted. "The Chinese government has adopted measures to boost economic development, including lowering the required reserve ratio, cutting the deposit and lending rates, and easing the corporate tax burdens," Hu told the participants. Meanwhile, as a responsible member of the international community, "China has taken an active part in the international cooperation to deal with the financial crisis and played a positive role in maintaining international financial stability and promoting the development of the world economy," he said. "Stability of the international financial markets and sustained development of the global economy are crucial to the well being of all countries and people," Hu noted. "Let us tide over the difficulties through concerted efforts and contribute our share to maintaining international financial stability and promoting global economic growth," he concluded.
BEIJING, Oct. 25 (Xinhua) -- A senior Chinese official called on the country's lawyers to serve their clients wholeheartedly and be a guard for the legal rights and interests of their clients, at Saturday's opening of the Seventh National Lawyers Congress. The congress will last through October 27. He urged Chinese lawyers to strictly abide by the principle of "making facts as the base and law as the yardstick" and follow their code of conduct and disciplines. Lawyers "should take the safeguarding of social fairness and justice as the fundamental pursuit of value in their practice," said Zhou Yongkang, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau and the secretary of the CPC Central Political and Legislative Affairs Committee (CPLAC). Under the leadership of the CPC Central Committee and the State Council, China's lawyer system has been gradually improving, while the lawyers' number has kept on increasing and their role has become increasingly clear, according to the senior official. Zhou urged Chinese lawyers to give top priority to the cause of the Party, the interests of the people, and the Constitution and law, and be an adamantine constructor and guard for socialism with China's own characteristics. Chinese lawyers should become a promoter for social harmony, he said, noting that the All-China Lawyers Association (ACLA) should bring into full play of its role as a bridge and ligament between Chinese lawyers and the Party and the government. Present at the opening session were Meng Jianzhu, minister of public security, state councilor and deputy secretary of the CPLAC, Wang Shengjun, president of the Supreme People's Court, and Cao Jianming, procurator-general of the Supreme People's Procuratorate. According to official website of the ACLA, the congress is its highest governing body. China has some 140,000 lawyers in practice and over 14,000 law firms
BEIJING, Nov. 26 (Xinhua) -- China's State Council, or the Cabinet, said on Wednesday that more efforts would be made to encourage enterprises to upgrade technology and engage in independent innovation. It also said there would be policies to promote merger and acquisition among enterprises. The policies were clinched at an executive meeting of the State Council, presided over by Premier Wen Jiabao. The meeting was held to discuss measures to address difficulties faced by enterprises and promote economic growth and deliberate plans to reform finished oil pricing mechanism and fuel taxes and fees. According to the meeting, plans would be drawn up to help some key industries, including steel, auto, ship manufacturing, petrochemical, light industry, textile, nonferrous metals, equipment manufacturing and information technology. The meeting urged banks to increase credit supply to help small and medium enterprises overcome difficulties. To offset adverse global economic conditions, the State Council on Nov. 9 has announced a 4 trillion yuan (585.7 billion U.S. dollars) stimulus package to boost domestic demand. This will be combined with other boosting measures, such as loosening credit conditions and cutting taxes. The huge amount of money will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding after several disasters, most notably the May 12 earthquake. The State Council also discussed the reform plans of finished oil pricing mechanism and fuel tax and fees at the meeting. It decided to make public the two draft reform plans to solicit public advice. According to the National Development and Reform Commission, the government has been studying a fuel tax to replace the current road tolls imposed upon vehicles. The long-awaited fuel tax and fee reform was first proposed in 1994. The State Council meeting also reached decisions to increase the storage of key materials and resources, accelerate development of the service industry and enhance measures to promote employment and social security. More education and job training would be provided among the government's efforts to increase employment. This education and training should also cover the lay-off workers and rural laborers who returned from cities because of unemployment, according to the meeting.
Li Changchun (C), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, visits a publishing showpiece exhibition in Beijing, capital of China, Dec. 6, 2008. Li attended on Saturday night a publishing showpiece exhibition and a concert in celebration of 30 years' reform and opening-up. BEIJING, Dec. 6 (Xinhua) -- Senior Chinese official Li Changchun attended on Saturday night a publishing showpiece exhibition and a concert in celebration of 30 years' reform and opening-up. The exhibition and the concert were held by China Publishing Group Corporation. Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, said during his visit that the company should strive to become a modernized publishing group with international competitiveness and influence. Li Changchun (front, R), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with performers after a concert in Beijing, capital of China, Dec. 6, 2008. Li attended on Saturday night a publishing showpiece exhibition and a concert in celebration of 30 years' reform and opening-up. More than 100 showpieces of books, newspapers and electronic publications were shown in the exhibition. Liu Yunshan, member of the CPC Central Committee Political Bureau and head of the CPC Central Committee Publicity Department, also attended the event.
UNITED NATIONS, Jan. 27 (Xinhua) -- Zhang Yesui, the Chinese permanent representative to the United Nations, met with Susan Rice, the new U.S. ambassador to the world body, here on Monday afternoon, and they exchanged views on the Sino-U.S. relations and other world and regional issues of common concern, diplomatic sources said here Tuesday. During the meeting, Rice briefed Zhang on the key points of the foreign policy of the Barack Obama administration, the sources said. The two sides also exchanged views on the Sino-U.S. relations, and other international and regional issues of common concern. They agreed to strengthen their consultation on and cooperation in the affairs of the United Nations, the sources said. The new U.S. ambassador made her UN debut on Monday by presenting her credentials to UN Secretary-General Ban Ki-moon.