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BEIJING, March 5 (Xinhua) -- The international press has given extensive coverage to Chinese Premier Wen Jiabao's government work report at the Second Session of the 11th National People's Congress (NPC) which started on Thursday, and praised China's persisted target of 8 percent annual economic growth in the face of the world financial crisis. The French-based AFP reported that despite the turbulence and recession of the world economy, "Wen forecast China can sustain eight percent economic growth in 2009, boosting hopes China's export-driven economy will cope with the crisis." "Asian markets rallied for a second day after Chinese Premier Wen Jiabao on Thursday reaffirmed his government's growth aims, triggering gains across the region in China-related stocks," it reported. On Thursday, the benchmark Nikkei-225 climbed 142.53 points to 7,433.49, up 1.95 percent. The British news agency Reuters said: "Premier Wen Jiabao assured on Thursday that China will achieve 8 percent growth this year despite a deepening financial crisis, setting out export support and spending programs to shore up the economy." Wen said China's budget deficit this year will reach 950 billion yuan (140 billion dollars), and though he did not announce fresh economic stimulus, his assurances helped extend a rally in Asian markets, Reuters reported. The U.S.-based Associated Press (AP) said: "China rolled out an aggressive government spending program on Thursday, promising ramped-up outlays for infrastructure and social programs to ward off the global economic downturn and forestall unrest." The German Press Agency (dpa) said China seeks to bolster the economy against the effects of a global slowdown. China announced a record annual budget deficit of 950 billion yuan (140 billion dollars), but Wen stressed that the deficit was below 3 percent of China's gross domestic product (GDP), remaining "within the acceptable range of what our overall national strength can bear and is therefore safe," dpa said. The Financial Times said Premier Wen pointed out that the international environment is becoming more complex and the financial crisis is further deepening. But China will meet its goal of 8 percent economic growth as long as the Chinese government establishes right policies, takes proper measures and pushes for effective implementation. Both the Financial Times and the British Broadcasting Corporation (BBC) reported that the ongoing meetings of the NPC and the Chinese People's Political Consultative Conference (CPPCC) drove up international stock markets on Wednesday, saying the Chinese economy has become a favorable factor for bourses around the globe. The Daily Telegraph said the economic stimulus plan announced by China last year concentrated on infrastructure, but Wen stressed the need to care about the healthcare and social insurance systems, especially in rural regions. The Swedish Broadcasting Corporation said Wen pinpointed China's target of 8 percent growth in his report, and expounded the importance to increase employment and control the registered urban unemployment rate at under 4.6 percent. New Zealand TV said the international community is closely watching developments of China's two annual conferences at a time when the global economy is undergoing a big recession. As a result of China's plan to expand its domestic demands and a series of the Chinese government's economic stimulus packages, quite a few stock markets have rebounded in the past two days, the TV report said. Premier Wen asked Chinese enterprises to consolidate their market shares in the traditional export destinations and do their utmost to explore the emerging markets, under a circumstance that global demands have been falling drastically and against a backdrop that trade protectionism is re-emerging, Interfax reported. Wen encouraged Chinese small- and medium-sized enterprises to cultivate name brands for export, it said. China is a developing country with a population of 1.3 billion. It must maintain a reasonable pace of economic growth to raise the employment rate both in urban and rural areas, increase people's incomes and safeguard social stability, another Russian news agency said. World Daily, the biggest Chinese newspaper in the Philippines, said in an editorial that the annual NPC meeting is being held when the global financial storm is hitting every corner of the world. Nearly 3,000 deputies will discuss national policies and put forward feasible suggestions. China's economic development this year will have an important effect on its growth in coming years. Therefore the deputies attending the critical meeting shoulder great responsibilities, the daily said.
HONG KONG, March 14 (Xinhua) -- China may get a more level playing field in terms of self-positioning when dealing with the United States amid the economic downturn, but Chinese leaders should beware of the potential traps behind U.S. flattering, scholars and senior editors said Friday. Speaking at a Financial Times forum on Sino-U.S. relations in Hong Kong, the scholars said they expected the bilateral relationship to remain generally healthy in years ahead as both sides want stability and were pragmatic. China is currently preoccupied with tackling the challenges facing itself, such as the need to further restructure the economy, finding an alternative development model to the export-driven growth of the past decades, and even the pressure of social instability. The decisions made by Chinese leaders in dealing with the current crisis "will set the way for the long-term reinvention of the Chinese economy," said Jonathan Fenby, author of A History of Modern China published by Penguin. China will emerge stronger if it can deal with the issues rightly, he said. Lifen Zhang, editor-in-chief of FTChinese.com, said China does not have the strength to be the economic savior amid the current crisis and should handle self-positioning carefully when dealing with the United States. "There is a lot of flattering going on at the moment, but be careful. What do the Americans really want?" he said, adding that a number of scholars have recently written on the topic. On the top of the U.S. agenda was currently the need to restore confidence and integrity in the world's most developed economic system, which calls for cooperation from China, the world's fastest growing developing economy, said Simon Schama, professor of history at the University of Columbia. But Schama said China should bear in mind that the next election in the United States will be in 2010 and avoid overplaying the leverage in its hand. "What the Chinese government ought to be aware of is not so to overplay in its hands this leverage as to encourage a .. backlash" as the conservatives may seize certain popular issues, including trying to present an image of the Obama administration as being too soft, he said.
BEIJING, March 14 (Xinhua) -- World media spoke highly of Premier Wen Jiabao's remarks Friday at a press conference and policies China has adopted to battle the economic crisis, saying the two just-concluded political sessions delivered "China's confidence." The two sessions are known as the Second Session of the 11th National People's Congress (NPC) and the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC). The U.S. Chinese Biz News said in a commentary that China has worked out various measures to boost confidence in a number of fields, noting that the package of measures was unprecedented concerning its covered area, depth and influence. Chinese Premier Wen Jiabao answers questions during a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday "China's confidence" was frequently used by reporters covering the NPC and CPPCC, making it a key phrase of the two sessions, it added. Zheng Yide, editor-in-chief of the U.S. Qiaobao, said the two political sessions spurred confidence of the world amid the unfolding economic turmoil. China has pledged an 8-percent economic growth, and considering the important role it plays on the world platform, such commitment uplifts people's confidence not only in China's economy but also in the world economy, Zheng said. The Paris-based Nouvelles d' Europe, the biggest Chinese newspaper in Europe, published a commentary saying "confidence" had been a key word running through the two political sessions and left a deep impression on the world. The recurring word offered China as well as other countries an effective prescription for surviving the economic crisis. Lianhe Zaobao, a leading Chinese-language newspaper in Singapore, said in an editorial that Wen has unequivocally said China is ready to confront even bigger challenges amid the financial crisis and can "roll out a new stimulus package at any time." That is a promise not only to the Chinese people but to the whole world, the editorial said. It is remarkable that China delivered such kind of determination and confidence at a time when the United States and Europe are still entrenched in their positions on measures to overhaul the global financial system, the editorial said. Nanyang Siang Pau of Malaysia said that China has set an 8-percent economic growth target for this year. The paper quoted Wen as saying that China's fiscal deficit is controllable and the government's debt level is safe. China will keep its currency, the yuan, stable at a reasonable and balanced level, Wen was cited as saying. "No country in the world has the right to put pressure on the devaluation or appreciation of the Chinese currency." Malaysia's China Press and Sin Chew Media also covered the conclusions of the two political sessions and Wen's press conference.
BEIJING, April 8 (Xinhua) -- Chinese Vice President Xi Jinping met on Wednesday with visiting Thai Princess Maha Chakri Sirindhorn. Xi expressed appreciation for her contribution to Sino-Thai friendship and donation to the country's earthquake-hit areas. During her China trip from April 3-10, Sirindhorn visited southwest China's Sichuan Province, and donated 10 million yuan for the rebuilding of schools damaged by last year's devastating earthquake. Chinese Vice President Xi Jinping (R) shakes hands with Thai Princess Maha Chakri Sirindhorn in the Great Hall of the People in Beijing, China, April 8, 2009 Xi said China is ready to make joint efforts with Thailand to raise bilateral strategic cooperation to a new level. Remarkable progress in bilateral cooperation has benefited the two peoples, and contributed to regional peace and stability, Xi said. Sirindhorn told Xi she has a deep affection for China, and she is impressed with the great changes taking place in China whenever she visits the country. The Thai princess said she would contribute more to enhancing Thailand-China friendship and cooperation.
BERLIN, Feb. 24 (Xinhua) -- A business delegation of about 200 Chinese entrepreneurs arrived here Tuesday night, starting their four-state procurement tour in Europe. The delegation, led by Commerce Minister Chen Deming and composed of state-owned, joint venture and private companies from various industries, are expected to sign deals of purchasing automobiles, machinery, aircraft engines, railway equipment and components with companies from Germany, Switzerland, Spain and Britain. The trip is a follow-up action for the agreements Premier Wen Jiabao reached with his counterparts during his visit to the four European countries early this month. "We come here in according with the agreements Premier Wen and the leaders from the four countries had made," Chen told Xinhua atthe Tegel Airport after he landed in Berlin. Germany is the first leg for the Chinese delegation, and the Chinese trade officials and business leaders are to hold negotiations with their German counterparts on Wednesday. "I believe we will have our pockets fully packed this time, and I also believe our procurements would help inject some energy into the slump economy of Europe," Chen said. "I hope we can achieve a lot, I also hope we can get good technology standards and reasonable prices for our procurement," he said. European Union (EU) is the biggest trading partner of China and China is the EU's second biggest trading partner. Germany is the biggest trading partner of China within the EU. According to official data released by the German side, the trade volume from January to November 2008, the trade volume between Germany and China hit 85.637 billion euros (about 109.52 billion U.S. dollars),up 10.8 percent.