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BEIJING, Aug. 24 (Xinhua) -- Chinese President Hu Jintao on Sunday held a banquet at the Diaoyutai State Guesthouse in west Beijing to welcome foreign leaders and international dignitaries who will attend the Olympic Games closing ceremony in the evening. Hu said in a toast that the Beijing Olympic Games have promoted the Olympic spirit of solidarity, friendship and peace. "The success of the Beijing Olympic Games is attributable to the concerted efforts of the Chinese people and people from the rest of the world," said Hu. Chinese President Hu Jintao (C) talks with King Carl XVI Gustaf of Sweden (2nd L) prior to a banquet at the Diaoyutai State Guesthouse in Beijing, China, Aug. 24, 2008. Chinese President Hu Jintao held a banquet Sunday to welcome foreign leaders and international dignitaries who will attend the Olympic Games closing ceremony in the evening"The glory goes to the Olympic Family, to athletes who have competed hard, to volunteers from different parts of the world and to friends the world over who have been involved in the Beijing Olympic Games in various ways," Hu said. Calling the past 16 days "a wonderful and exciting time together," the Chinese leader said that the hosting of the Beijing Olympics will give a boost to the further development of sports in China, promote more extensive exchanges and cooperation between China and the International Olympic Family, and further enhance the mutual understanding and friendship between the Chinese people and people of all other countries. The Beijing Olympic Games have become "a grand event of international sports competition and cultural exchanges" witnessed and joined by people of the whole world, said Hu. Since the opening of the Beijing Games, friends from all parts of the world have come together in the Chinese capital to experience the charm of the International Olympic Movement, said the president. "The Chinese people have greeted all the guests with great enthusiasm and shared with people from across the world the joy and happiness," he added. He expressed sincere thanks to the International Olympic Committee (IOC) and the Olympic Family for their support and assistance, and extended heartfelt congratulations to the athletes from various countries and regions on their outstanding performances at the Beijing Games. The president also pledged that China would work hard to guarantee the success of the Paralympic Games, scheduled to open in Beijing in early September. "With the goal of 'Two Games, Equal Splendor,' we will deliver a high-standard Paralympic Games with distinctive features and continue to contribute our part to the development of the International Olympic Movement," he said. He expressed the confidence that through the concerted efforts of people all over the world, the Olympic spirit will be carried forward and mankind will enjoy an even better future. "We all look forward to the reunion in London in four years' time!" he told the guests. Among the guests were IOC President Jacques Rogge and Honorary President Juan Antonio Samaranch, as well as leaders and dignitaries from more than 20 countries and regions.
BEIJING, June 10 (Xinhua) -- The quake relief headquarters of the State Council (cabinet) Tuesday sent a congratulatory telegram to the Tangjiashan lake emergency rescue headquarters for the successful drainage of the quake lake. "After more than 10 consecutive days of hard work, you successfully drained the Tangjiashan quake lake and eliminated a huge threat of secondary disaster after the May 12 quake," the telegram said. The drainage water of Tangjiashan quake-formed lake passes Mianyang City, southwest China's Sichuan Province, June 10, 2008. The crest of the flood from Tangjiashan quake-formed lake passed safely by downstream Mianyang City on Tuesday afternoon. (Xinhua Photo)Photo Gallery>>> "Your work has ensured the people's security, avoided a huge loss and created a miracle in dealing with large quake-formed lakes," it said. "The State Council quake relief headquarters would like to express heart-felt gratitude and respect to the troops, geologists and quake and weather technicians working at the front line and those who helped evacuate people in low-lying areas," it said. The headquarters urged people to continue the work until they were done with follow-up activity in terms of drainage and evacuations. The Tangjiashan lake was formed after quake-triggered landslides from Tangjiashan Mountain blocked the Tongkou River running through Beichuan County, one of the worst-hit areas in the quake that struck southwestern Sichuan Province. Had the lake overflowed, it could have threatened some 1 million people on the lower reaches of the lake. A man-made spillway started to drain the lake on Saturday morning and military engineers used recoil-less guns, bazookas and dynamite on Sunday and Monday to blast boulders and other obstructions in the channel and speed up the outflow. The lake shrank dramatically on Tuesday as muddy water flowed into the low-lying areas. About half of the lake's 250 million cubic meters of water has been discharged since the drainage started. More than 250,000 people in low-lying areas of Mianyang were relocated under a plan based on the assumption that one-third of the lake volume breached the dam.
BEIJING, Aug. 8 -- China's consumer inflation may continue to decline in July, marking the second consecutive month this year that it has dropped, according to economists' estimates. That may mean a departure from the rising spiral of inflation after it peaked at an annualized 8.7 percent in February. Lehman Brothers economist Sun Mingchun said his team's research found the July consumer price index (CPI), the main barometer of inflation, may drop to 6.7 percent year-on-year from 7.1 percent in June. The domestic Bank of Communications research arm said the figure could fall at 6.4 percent, which is also the estimate of Southwest Securities. China's consumer inflation may continue to decline in July, marking the second consecutive month this year that it has dropped, according to economists' estimates. One of the reasons why prices are stable is that there has been no flooding, a regular feature of the rainy seaon, said Sun of Lehman Brothers. Daily price data from the Ministry of Agriculture and the National Development and Reform Commission show that agricultural product prices rose only slightly in July while meat prices fell. Weekly price data released by the Ministry of Commerce also showed a moderate decline in food prices. The relatively high statistical base of last July also contributed to the drop in inflation this July, said Guo Tianyong, economist with the Central University of Finance and Economics. China's CPI hit 5.6 percent year-on-year last July, the first time it reached the 5-percent level that year. "If no major natural disaster hits China in August, CPI could fall below 6 percent in August, providing more room for the government to remove its price controls," said Sun. Economists said that without many unexpected incidence, it will gradually ease to around 5 percent by the year-end. A possible price liberalization of oil products, however, should not be a one-off adjustment, which will put a huge pressure on the country's battle against inflation, Guo said. China raised the prices of oil products and electricity late June. Analysts said that once the inflation pressure eases, policymakers may start a second round of price liberalization, which may lead to a rebound in CPI. If such liberalization moves are indeed made, they should be done in phases, not in one go, said Guo. Only that will ensure inflation does not peak again, as it did in February. The pressure from the rising producer price index (PPI), which gauges ex-factory prices and influences CPI, may be a concern, but even taking into consideration its impact, consumer inflation may no longer exceed the February peak in the coming months and the first half of next year "The worst times are behind us," said Dong Xianan, macroeconomic analyst with Southwest Securities. "From the second half of last year, the tightenting stance had been obvious, which is a pre-emptive move to ensure the current easing of inflation." Macroeconomic growth The economic growth may gradually slow down in the rest of the year, analysts said, but the fine-tuning of policies would shore it up. Dong from Southwest Securities forecasts that given the current growth momentum, the whole-year figure for GDP growth may be 10.1 percent, well below the 11.9 percent of last year. Other estimates are around the 10 percent mark. The global economic slow-down, which reduces external demand for China's exports, will bring much trouble to China, but its domestic consumption and investment will remain stable, analysts said. More importantly, the central authorities may adjust its tight policies to cater to individual demand of regions and sectors that have found it difficult to survive the tightened policies.
BEIJING, April 9 (Xinhua) -- Chinese President Hu Jintao inspected the southern province of Hainan before attending the annual meeting of the Boao Forum for Asia (BFA) opening on Saturday. The forum, April 11-13, is a platform for high-level interaction between leaders from Asia and the world. Boao has been the permanent venue of the annual regional economic forum since 2001. Hu, also general secretary of the Communist Party of China Central Committee, discussed reform and development issues with local officials and visited with a public made up of various ethnic groups during the inspection tour that started on Monday. The island province marks the 20th anniversary of the founding of the Hainan special economic zone (SEZ) later this month. Hu visited an exhibition marking the anniversary at the provincial museum. "Over the past two decades, Hainan's economic and social development has made a remarkable progress. The appearance of cities and villages has undergone profound changes. Practice shows the policy of setting up SEZ in Hainan is completely correct," said the president. Chinese President Hu Jintao (2nd R Front) talks with a farmer in a paddy field at Binglang Village of Fenghuang Town in Sanya, a city in south China's Hainan Province, April 9, 2008. President Hu made an inspection tour in Hainan Province on April 7-9 Founded in 1988, Hainan is one of the five SEZs established since 1980. The others are Shenzhen, Zhuhai, Shantou and Xiamen, all in southern China. Hu showed his respect for the island's model workers, farmers, teachers and police who had made great contribution to Hainan's development. "You have done extraordinarily at ordinary positions," Hu told them. The president also revisited the state-level Yangpu Economic Zone in the northwest of the island. Twelve years before, he had been to the zone. Hu was very happy to learn that last year Yangpu's economy increased by 60 percent and its import and export value was up by 213 percent. The president said he hoped Hainan to deepen reform, further implement the Scientific Outlook on Development and play a leading role in reform and opening up. He later inspected a Sinopec oil refining company in Hainan and visited a 300,000-ton crude oil dock. Leaving the oil-handling terminal, Hu went to the Yangpu Harbor, which boasted the best natural conditions among all deep water ports of the island. The throughput of the harbor, launched in 1990, reached 4.27 million tons in 2007. Hu encouraged officials and workers to seize the regional economic cooperation opportunity. Chinese President Hu Jintao (2nd L) learns cowpea's growth and sale from farmer Huang Zhengguang (1st R) of the Li ethnic group at Shandao Village of Jianfeng Town in Ledong Li Autonomous County, south China's Hainan Province, April 8, 2008. President Hu made an inspection tour in Hainan Province on April 7-9 On his inspection tour, the president also went among farmers and into Li ethnic villages, learning their difficulties in farming and medical services. Hu showed great concerns over the island's environment, stressing Hainan must promote the conservation culture, save energy resources and protect ecosystems. "The education on environmental protection should be thoroughly conducted and ecological protection measures should be strictly implemented so as to effectively preserve the island's nature-bestowed original ecological wonder," Hu said. Hu also visited a navy troop in Sanya City and examined their armaments. He also asked local officials to apply a cautious, industrious and clean work style.