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BEIJING, Oct. 17 -- The government is ready to introduce a series of measures to cushion the impact of slower growth in foreign trade and industrial output caused by the global credit crisis, the vice-minister of the National Development and Reform Commission, said Thursday. Speaking at a press conference held by the State Council Information Office in Beijing, Du Ying said that as the global economy has slowed, foreign trade volume, value-added output and the profit growth of industrial firms based in China's coastal areas have shown a downward trend in the second half of the year. "The State Council is greatly concerned by the trend and is ready to introduce a series of measures," he said. But the full impact of the global financial crisis has yet to be seen, he said. "We must have a full picture of the difficulties and challenges," he said. The government has already taken several measures to combat the impact, including lowering the deposit reserve ratio, helping small- and medium-sized factories to upgrade their technologies, and introducing more favorable credit policies, Du said. He said he is confident China can weather the storm. "As in the past, China can overcome the challenges and difficulties and enter a new stage of development. I'm fully confident of that," Du said. With the global financial crisis continuing to escalate, China - the world's fourth largest economy - has seen its major economic indexes slide. The National Bureau of Statistics is due to release figures on Monday for the economic situation over the past three quarters. Some analysts have forecast that GDP growth might drop further in the third quarter, from 10.1 percent in the second quarter and 11.9 percent for the whole of last year. Yang Xiong, vice-mayor of Shanghai, said the city's industrial output growth fell to 6 percent last month from an average of 11.5 percent per month in the first three quarters. The financial hub remains in good shape, however, partly due to investments in preparation for the 2010 World Expo, he said. Zhao Kezhi, deputy governor of Jiangsu, said the province's trade figures were down 4 percent year-on-year in the first nine months. Chen Min'er, vice-governor of Zhejiang, said the province had witnessed "individual" cases of company failures, but denied media reports of widespread factory closures. Authorities will respond by trying to cut the tax burden on local firms, make more credit available and ensure a sufficient supply of land and power for manufacturers, Chen said, adding that now was a good time to weed out obsolete, polluting plants. On Wednesday, Zhou Xiaochuan, governor of the central bank, called for increased domestic consumption to counter the economic slowdown. "Due to the impact of various factors, we may need to increase domestic demand," he told Hong Kong-based Phoenix TV.
ATHENS, Nov. 25 (Xinhua) -- Chinese President Hu Jintao said here on Tuesday that China hopes to push its ties with Greece to a higher level. The Chinese government has attached great importance to its relations with Greece and has been viewing the bilateral ties from a strategic and long-term perspective, Hu said during his meeting with Greek Prime Minister Costas Karamanlis. China hopes to expand the scope of shared interests with Greece and push forward bilateral cooperation in various sectors, the Chinese president said. He suggested that the two sides set up a guideline for long-term economic cooperation and establish a more effective communication platform for enterprises on both sides. Chinese President Hu Jintao (R) meets with Greek Prime Minister Costas Karamanlis in Athens, capital of Greece, Nov. 25, 2008 He said that the Chinese government supports competent Chinese enterprises to invest in Greece and carry out mutually beneficial cooperation in telecom, energy, environmental protection, tourism and isle development. He also proposed the two countries pay more attention to cooperation in the oceanic shipping industry. In addition, China and Greece should devote major efforts to strengthening cultural cooperation, he said. The two sides should enhance cooperation in language teaching, the protection of cultural relics, the press and publication, said the Chinese president. Efforts should also be made to advance academic and youth exchanges and to explore cooperation potential in traditional medicine, disaster prevention and relief, as well as in social development, the Chinese president said. Karamanlis said significant progress has been achieved in the Greek-Chinese ties after the two nations formed the comprehensive strategic partnership in 2006. He echoed Hu by saying that the two sides should enhance cooperation in oceanic shipping and tourism. Greece hopes to become a gateway of Chinese commodities into the region and welcomes Chinese people to visit the country, he said. The two sides should also strengthen cooperation within international organizations as the world is faced with major challenges like the current financial crisis, the Greek prime minister said. The two leaders also discussed Sino-European relations. China is willing to work with its European partners to properly handle major issues of common concern and resolve differences in an effort to strengthen strategic mutual-trust, push forward cooperation in all areas and ensure the growth of the Sino-Europe comprehensive strategic partnership in the long run, Hu said. He added that China appreciates the endeavor and contribution by Greece to the development of Sino-European ties and hoped the Greek side will play a more active role in the future. For his part, Karamanlis promised to continue its active efforts in boosting China-EU relations in an all-round manner. Hu arrived in Athens on Monday for a state visit to Greece, the last leg of his five-nation trip. He had earlier attended a financial summit in Washington and paid state visits to Costa Rica, Cuba and Peru, where he also attended the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima.

BEIJING, Nov. 2 (Xinhua) -- Chinese President Hu Jintao and Tongan King Taufa'ahau Tupou V exchanged congratulatory messages on Sunday to celebrate the 10th anniversary of the establishment of bilateral diplomatic relations. Hu said in the message that the establishment of diplomatic ties between the two countries on Nov. 2, 1998 opened a new chapter in bilateral relations. Over the past 10 years, the bilateral ties have been continuously solidified and strengthened, he added. Hu said the establishment and development of bilateral ties have brought real benefits to the two peoples and promoted the stability and development of the Pacific Islands Region. China is willing to make joint efforts with Tonga, on the basis of the Five Principles of Peaceful Coexistence, to further strengthen bilateral exchanges and cooperation, boost the two peoples' friendship and understanding and lift China-Tonga friendly and cooperative ties to a higher level, thus making new contribution to the stability, development and progress of the two countries and the region as a whole, he said. Tupou V said it was farsighted for former King Taufa'ahau TupouIV to make the decision to build diplomatic ties with China 10 years ago. The development of the ties has benefited the two peoples greatly, he said, adding the Tongan government will continue to abide by the one-China policy.
BERLIN, Jan. 28 (Xinhua) -- Chinese Premier Wen Jiabao arrived in the German capital Berlin late Wednesday for an official visit to the country. The premier is scheduled to meet with German Chancellor Angela Merkel and Vice Chancellor Frank-Walter Steinmeier on Thursday to discuss bilateral relations and further cooperation between the two nations amid the global financial downturn. Upon his arrival, Wen said in a statement that currently Sino-German relations are faced with a sound opportunity of development. The two nations have maintained frequent high-level contacts, and economic and trade cooperation has been expanding steadily, Wen said. Both sides also witnessed fruitful dialogues on such fields as science and technology, education, culture, and youth exchanges, he noted. Bilateral consultation and coordination on international affairs have also been strengthened, he added. The premier expected his meeting with Merkel would further enhance mutual trust and broaden consensus between the two nations. Wen also expressed the belief that his visit will further push forward the Sino-German partnership, which bears a global responsibility. Meanwhile, the premier, on behalf of the Chinese people, extended Chinese lunar new year greetings and good wishes to the German people. During his two-day visit to Germany, Wen will also attend a forum on Sino-German economic and technical cooperation and deliver a speech. Germany is the second leg of Wen's European tour after Switzerland, where he attended the annual meeting of the World Economic Forum (WEF). The trip will also take him to the European Union headquarters, Spain and Britain.
BEIJING, Nov. 28 (Xinhua) -- The Political Bureau of the Communist Party of China (CPC) Central Committee convened a meeting here on Friday, analyzing and studying the economic work of next year and setting out major tasks. The meeting said that this year has been eventful and the country has risen to many daunting challenges, including the global financial crisis and domestic natural disasters. The economy has maintained a stable and relatively fast growth and society has been stable, which are hard-won achievements, it said. The meeting, chaired by CPC Central Committee General Secretary Hu Jintao, warned that the worsening global financial crisis would have more impact on China's economic development, urging the country to take more precautionary measures to meet the challenges. The meeting said that next year, which marks the 60th anniversary of the founding of New China, the nation should boost domestic demand for a stable and relatively fast economic growth, accelerate the transformation of development patterns and structure adjustment for sustainable development, deepen the reform and opening-up drive and solve problems that concern the people's interests for a healthy and rapid economic and social development. Maintaining a stable and relatively fast economic development should be the foremost task for next year's economic work, it said, urging a better combination of ensuring growth, boosting domestic demand and adjusting structure. An "active" fiscal policy and "moderately loose" monetary policy should be continued, and measures including tax reduction and increasing central government investment should be taken to safeguard the people's livelihood, stimulate domestic demand and transform development patterns, it said. Consumption, rural consumption in particular, should be actively boosted and a set of major projects on livelihood, infrastructure and environment protection should be launched. The position of agriculture as the foundation of the economy should be strengthened and agriculture production be boosted, it said. The stable growth of foreign trade should also be maintained. Structural adjustment should be accelerated, including developing the high-tech industry, small and medium-sized enterprises, the service sector and coordinating regional development. More progress should be made on energy saving and emissions reduction and pollution treatment be stepped up, the meeting urged. Rural reform and financial reform should be deepened, and people's livelihood should be improved and more jobs be created, it said. The meeting also agreed in principle suggestions on judicial reform by the CPC Central Political and Legal Affairs Commission. The reform should meet the judiciary needs of the people and aim at promoting social harmony, beef up measures to tighten the restraint on and supervision over the use of power, and remove barriers that hamper justice, it said.
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