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BEIJING, April 1 (Xinhua) -- Chinese equities closed 1.47 percent up Wednesday to stand at 2,408.02 points, surpassing the 2,400 points mark, echoing the overnight Wall Street rebound. The Shanghai Composite Index gained 34.81 points, or 1.47 percent to 2,408.02. The Shenzhen Component Index rose 174.06 points, or 1.94 percent to 9,156.01. Gains outnumbered losses by 675 to 183 in Shanghai and 599 to 140 in Shenzhen. Combined turnover expanded to 250.67 billion yuan (36.68 billion U.S. dollars) from 200.03 billion yuan on the previous trading day. Coal shares boosted the index up, as there were reports Monday that the government might consider raising the coal price by 4 percent. China Shenhua Energy, the country's leading coal producer, gained 5.8 percent to 21.9 yuan, while China Coal jumped 5.65 percent to 9.17 yuan. The benchmark Shanghai Composite Index continued the upward trend of the previous trading day and touched a 2422.63 points intra-day high Wednesday, exceeding the previous intra-day high of 2402 points on Feb. 17. Zhang Yunpeng, an analyst with Beijing-based Huarong Securities, said investors should not be overly optimistic about the continuing rebound, as the turnover in recent days was lower than that in mid-February, which suggested that some investors were still cautious. China's top banking regulator Liu Mingkang said Tuesday the government would require foreign banks taking stakes in domestic commercial banks to hold those stakes for at least five years, rather than three as at present, to reduce risks for local banks. Zhang said this was a piece of positive news for Chinese bank stocks for the long run, as this move would help stabilize their share prices. The Industrial and Commercial Bank of China, China's top lender, rose 0.76 percent to 3.97, while the China Construction Bank, the country's second largest commercial lender, gained 0.47 percent to 4.32 yuan. Chongqing Iron and Steel Co. rose 1.24 percent to 4.91 yuan, after the steel producer reported a 33.18 percent growth in net profit to 598.3 million yuan last year in its annual report released Wednesday.
BEIJING, April 15 (Xinhua) -- China and New Zealand should work together to deal with the international financial crisis, said Chinese Premier Wen Jiabao on Wednesday. "This would benefit both countries and the region as well," Wen told visiting New Zealand Prime Minister John Key. Chinese Premier Wen Jiabao (R) shakes hands with New Zealand's Prime Minister John Key at the Great Hall of the People in Beijing, capital of China, April 15, 2009. Wen said Sino-New Zealand relations was "at its best in history." adding to the Free Trade Agreement (FTA) signed last October has greatly boosted bilateral trade and economic cooperation and brought about concrete benefits to the two peoples. Wen proposed the two countries continue high-level exchanges of visits to improve political trust. Chinese Premier Wen Jiabao (front L1) welcomes visiting New Zealand's Prime Minister John Key (front L2) at the Great Hall of the People in Beijing, capital of China, April 15, 2009He urged the two sides to use the advantage of the FTA to expand cooperation in the areas as agriculture, forestry, stock raising, environmental protection, clean energy and food safety. Wen also called upon the two countries to promote personnel exchanges and coordination in the international organizations. Key said New Zealand remains committed to developing relations with China and would take the chance of implementing the FTA to expand bilateral cooperation in agriculture, stock raising and science and technology. The prime minister said New Zealand and China should stand firmly against trade and investment protectionism and advance the Doha round of negotiations. After the talks, the two leaders witnessed the signing of agreements on cooperation in information and tourism. Key is to head to south China's Hainan Province for the 2009 meeting of the Bo'ao Forum for Asia (BFA) from April 17 to 19.

BEIJING, March 29 (Xinhua) -- Chinese Vice Premier Wang Qishan has called on the international community to "act together" at the upcoming London summit to get through the global financial crisis, in an article published by the British newspaper The Times on Friday. In the article entitled "G20 must look beyond the needs of the top 20," with a subtitle "China believes the developing world should have a stronger say in how the international financial system is run," Wang urged all heads of states to be present at the G20 London summit to "act together to get through the time of hardship." After the financial crisis broke out, China was quick to put in place a decisive plan to boost domestic demand, advance economic restructuring and improve people's well-being, which have started to produce results, said the vice premier. However, the Chinese economy still faces severe challenges, including to meet the demanding goal of maintaining economic growth by boosting domestic demand, ensuring employment and readjusting the economic structure. China also has to cope with shrinking external demand caused by the global economic downturn and trade and investment protectionism, Wang said. "China will continue to take forceful measures to maintain steady and fast economic growth and contribute its share to an early recovery of the world economy," Wang pledged in the article. Since the G20 summit in Washington last year, said Wang, China has provided a lot of assistance and support through a variety of means to a number of countries and regions, and played a part in the creation of significant Asian and global economic and trade initiatives. The Chinese leader stressed the significance of the international community to enhance coordination and cooperation to overcome the current difficulties. "Efforts should be made to expand trade and investment cooperation to bolster economic growth, step up cooperation among small and medium-size businesses to ensure employment stability, and strengthen cooperation in energy conservation and emissions' reduction, environmental protection and development of new energy technologies to nurture growth points for the world economy," Wang suggested. He firmly rejected trade and investment protectionism of all kind. "The international community should recognize that the trend towards economic globalization is irreversible and should take credible steps to reject all forms of trade and investment protectionism," he said. Wang also called on the international financial system to be reformed, "with the focus on readjusting the governance structure of international financial institutions and increasing the representation and voice of developing countries." He asked the London summit to set a clear goal, timetable and road-map for such reform. To prevent similar crisis from happening again, Wang, also a Chinese economic expert, suggested prudent regulation of all financial markets and institutions involved to be tightened and regulatory coordination and cooperation at both the regional and international levels to be increased. On the hot topic of increasing financial resources for the International Monetary Fund (IMF), he said China supports the increase as far as the fund is safe and reasonable returns can be ensured. "China is ready to play an active part in exploring ways to raise resources and will contribute to this effort within its ability," Wang said. He asked the IMF to mobilize resources through the "quota-based" system as well as voluntary contributions, striking a balance between the rights and obligations of the contributing countries. As a return, said the Chinese vice premier, the IMF must enhance capacity-building, reform governance structure and ensure that the resources play a significant role in easing the international financial crisis and countering the global economic downturn. China inclines to see the resources mainly to be used to help developing countries which are seriously hit by the crisis, Wang said. Leaders of the world's 20 largest economies will meet in London on Thursday to discuss, among other things, a coordinated response to the current global financial crisis
BERLIN, Feb. 25 (Xinhua) -- A Chinese business delegation, led by Commerce Minister Chen Deming, signed here on Wednesday a total of 37 procurement deals worth around 11 billion euros (14 billion U.S. dollars) with German companies. According to Chen, the 37 deals are composed of two parts -- purchasing contracts, and cooperation agreements which need further negotiations. The deals focus on engineering equipment, electronics and auto vehicles like Mercedes and BMW, Chen told a press conference. A draft deal obtained by Xinhua showed that the Chinese side agreed to buy around 37,000 BMW cars and Mini worth 2.2 billion U.S. dollars, as well as 27,000 units of Mercedes cars. Chen revealed that apart from the current 200-member delegation, China would send more entrepreneurs to Germany to discuss further investment in both countries. Germany is one of China's important trading partners within the European Union (EU). In 2008, the Sino-German trade hit 115 billion U.S. dollars. Despite the world economic crisis, China and Germany have vowed to maintain the trade volume unchanged this year. Prior to the deal-signing ceremony, more than 450 Chinese and German business representatives attended a forum on exploring cooperation opportunities. Chen and German Economic Minister Karl-Theodor zu Guttenberg condemned trade protectionism that has cropped out amid the global economic crisis. Chen said the procurement deals reflect China's sincere objection to trade protectionism, adding that opening the market is the proper approach to address the global economic recession. Guttenberg lauded China's procurement, and joined Chen to slap trade protectionism. The 37-year-old minister said Germany and China are top two exporters in the world, noting that trade protectionism is a "wrong answer" to the current global financial crisis. Germany and China should join hands to facilitate the Doha round talks, he added. Later on Wednesday, the Chinese delegation, composed of over 200 business representatives, flew to Zurich of Switzerland to continue their procurement tour.
BEIJING, Feb. 23 (Xinhua) -- Chinese Vice President Xi Jinping's just-concluded Latin American and European tour has strengthened bilateral ties, broadened consensus and boosted cooperation with these countries, a senior Chinese official said Monday. Xi's two-week trip to Mexico, Jamaica, Colombia, Venezuela, Brazil and Malta, as well as Fiji, where he made a transit stop, was pragmatic and fruitful, said Chinese Vice Foreign Minister Li Jinzhang. SIGNIFICANT VISIT WITH FAR-REACHING IMPACT Xi's visit to Latin America was a major Chinese diplomatic move since President Hu Jintao's trip to the region last year, said Li. Last November, Hu traveled to Latin America for a visit that produced a broad consensus on forming a partnership of all-round cooperation with the region on the basis of equality, mutual benefit and common development. Earlier, China issued its first policy paper on Latin America and the Caribbean. During his visit to the five Latin American nations, Xi further clarified China's policies on Latin America and stressed that China is ready to join hands with Latin American nations to further enhance cooperation and elevate China-Latin America relations to a new high, Li said. In a speech at a seminar attended by Chinese and Venezuelan entrepreneurs, Xi raised a five-point proposal on strengthening the all-round cooperation for common development between China and Latin American nations amid the current global economic landscape. Li described Xi's visit to Latin America as a follow-up action to push forward China's relations with the region. The Chinese vice president's visit came before the Group of 20 summit scheduled for April in London to address the ongoing global financial crisis, Li noted. During the trip, Xi called for a long-term perspective in planning and confidence building and urged a combination of promoting bilateral cooperation and ensuring the steady and sustained growth of China's economy. As a result, the visit has yielded remarkable results and a far-reaching political impact, Linoted. Xi's visit highlighted China's efforts to work with these countries to tackle the financial downturn and turn the crisis into an opportunity, Li said. Xi's trip brought him to mostly developing countries. During his visit, Xi stressed the need for developing countries to work together in tiding over the financial crisis, he said. Xi and leaders of these countries reached broad consensus on joint efforts to achieve the UN Millennium Development Goals, tackle the challenges and seek common development, he added. During Xi's visit, the governments and enterprises from these countries voiced their willingness to cooperate with China and welcomed China to trade with and invest in their countries and join them in exploitation of energy and natural resources and infrastructure construction. VISIT TO GET ACROSS CHINA'S POLICIES ON KEY ISSUES Xi's visit spanned three continents and two oceans. In every stop, Xi explained China's positions on key issues such as the international situation, the financial crisis, the upcoming G20 summit in London, the Doha round of trade talks as well as UN reforms. He had in-depth exchanges of views with leaders of the host countries on enhancing cooperation and jointly tiding over the economic difficulties. Leaders of the seven countries spoke highly of China's role in stabilizing the global economic and financial situation and promoting world peace and development. Mexican and Brazilian leaders expressed readiness to beef up cooperation with China in international organizations and multilateral mechanisms and work together for a more fair and rational new international order, deal with financial crisis and win a greater say for the developing countries. Colombian and Jamaican leaders appreciated China's contributions to stabilizing the world economy, saying the steady and relatively fast growth of China's economy will help other countries overcome financial crisis at an early date. Xi also reiterated China's stance on the Taiwan and Tibet issues. The host countries all reaffirmed their adherence to the one-China policy. The Chinese vice president welcomed the countries to participate in the Shanghai World Expo in 2010 and was given favorable responses by all. FRUITFUL VISIT PACKED WITH SUBSTANTIAL ACTIVITIES During his tour, Xi attended nearly 80 meetings, seminars, and other activities and held talks with leaders of the seven countries, exchanging views with them on bilateral ties as well as major international and regional issues of common concern. He also witnessed the signing of over 60 cooperation documents in economy, finance, energy and mining, agriculture, infrastructure, high-tech and culture. Xi held wide-ranging contacts with leaders of parliaments, political parties, regional leaders, and people from the media and academic communities. Xi unveiled the first Confucius Institute in the Caribbean region, and broke ground for the Montego Bay Convention Center, a cooperation project by China and Jamaica. Xi's visit uplifted China's relations with the seven countries, expanded their political mutual trust and strategic consensus, and deepened pragmatic cooperation, Li said. BROAD PROSPECTS FOR FURTHER COOPERATION Under the new consensus reached during Xi's visit, China and these countries will strengthen cooperation in trade, finance, energy and mining, agriculture, infrastructure construction, high-tech and culture. The consensus laid a solid foundation for China and these countries to draw on each other's strength and achieve mutual benefit and win-win progress, Li said. China and these countries are geographically far apart and have different social and cultural traditions, but their people have expressed an earnest wish to enhance friendship. Xi's visit served to push bilateral ties further forward, Li added.
来源:资阳报