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BEIJING, Nov. 23 (Xinhua) -- Chinese Premier Wen Jiabao called on domestic companies to pump up confidence in coping with the global financial crisis during his inspection of enterprises in eastern Shanghai and Zhejiang Province from Friday to Sunday. Wen said buoying up their confidence was "a powerful weapon to deal with the adverse effects of the global economic turbulence and financial turmoil" when inspecting local private enterprises and large-scale companies. "Enterprises must have confidence for them to stabilize market expectations. Confidence is what they need to tide over the difficult times," he said. Wen, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, pointed out the private sector played an important role in keeping the stable and relatively fast economic growth momentum, creating more jobs and maintaining the social stability. Chinese Premier Wen Jiabao (C) talks with workers of the Shanghai Waigaoqiao Shipbuilding Co., Ltd. in Shanghai, east China Nov. 22, 2008. Wen Jiabao made an inspection tour of Shanghai Municipality and Zhejiang Province from Nov. 21 to Nov. 23, 2008."Great importance should be laid on the difficulties and challenges private companies face and more supporting policies should be given to them to create a sound environment for their development," he added. Wen encouraged private companies to adapt to the market changes, make efforts on innovation, establish famous brands with independent intellectual property rights, improve their competitiveness and enhance risk resisting capabilities. When inspecting Yiwu city in Zhejiang, one of the country's commodities trading centers, Wen encouraged business people to also focus on the domestic market in sync with strengthening their positions on the overseas market. Wen stressed that large-scale enterprises played a crucial part in the national economy and social development, and great efforts must be put on pushing forward their healthy development. He encouraged big companies to conduct merge and restructuring, eliminated the outdated production capacity and increase investment on research and development.
BEIJING, Nov. 13 (Xinhua) -- Chinese Premier Wen Jiabao met here Thursday with the foreign guests attending the 2008 Annual General Meeting of the China Council for International Cooperation on Environment and Development (CCICED). During the meeting, the two sides exchanged views on how China could properly handle the relation between stable, fast economic growth and environmental protection, and achieve sustainable development, against the backdrop of the aggravating global financial crisis and the downturn of global growth. Chinese Premier Wen Jiabao (1st R Back) meets with foreign guests attending the 2008 Annual General Meeting of the China Council for International Cooperation on Environment and Development (CCICED) in Beijing, capital of China, on Nov. 13, 2008. The 2008 Annual General Meeting of the CCICED was scheduled here for Nov.12-14, featuring the theme of "Harmonious Development through Innovation". All representatives of the Council's Chinese and international members as well as its task forces' co-chairs were invited to attend the meeting. The Council is a non-profit international advisory body established upon the approval of the Chinese government in 1992. The main task of the Council includes exchanging international successful experience in the field of environment and development, and studying key environment and development issues in China.

BEIJING, Nov. 1 (Xinhua) -- In the space of a year, Yang Chanjuan's career plan has changed direction. A soon-to-graduate college student in economics, Yang is feeling her fortunes being buffeted by the financial crisis. Yang was recently told by her schoolmates already working in the financial sector that their companies would cut staff, or there would no bonus this year. Amid the turmoil and full of uncertainty, a job in banking or securities company was no longer desirable to her. As a result, she decided to apply for a government job. Yang's change in career plan came as the financial crisis is spreading around the world. As it is now beginning to hit the real economy, more and more people, not only those in banks, have lost their jobs. International Labor Organization (ILO) estimated earlier that the financial crisis would cost 20 million jobs globally by the end of 2009. The ILO said the new projections could prove to be underestimates if the effects of the current economic turmoil are not quickly confronted and plans laid for the looming recession. Migrant workers fill in application forms at a job fair in Chongqing, southwest China on Jan. 1, 2008. International Labor Organization (ILO) estimated earlier that the financial crisis would cost 20 million jobs globally by the end of 2009. In the birthplace of the crisis, the United States, big companies from Goldman Sachs to Coca Cola, Motorola to Alcoa, have all announced their job cut plans. Economists believed the jobless total could increase by 200,000. Back to China, unemployment now becomes a concern too. Although with 2-trillion U.S. dollars of foreign reserves, a budget surplus and a controlled capital market, China would suffer limited direct impact from the crisis. However, weakening demand from its major markets, North America and Europe, is now leading China's real economy in the export sectors into a tough situation. In China's coastal areas, export enterprises are now struggling with soaring labor cost and fewer orders from foreign customers. Many toy factories in South China's Guangdong Province were shut from January to July this year. Earlier last month, two big factories of a Hong Kong listed toy-maker were shut. As a result, 7,000 workers lost their jobs. Affected by the global financial crisis, the company was suspended from trading thus it faced severe shortage of current funds. Statistics from the Ministry of Commerce showed that China's export suffered a growth slowdown in the first three quarters compared with the same period last year -- from 27.1 percent to 22.3 percent. The government said the gross domestic product (GDP)growth rate in the first three quarters this year slowed to 9.9 percent - a 2.3 percentage points fall compared with the same period last year. "The greatest impact is on these labor-intensive, small and medium-sized export enterprises," said Wang Dewen, a labor economist from China Academy of Social Sciences. These export-oriented enterprises that make China the world's workshop, are mainly small and medium-sized and vulnerable to market changes. These are China's major employers, absorbing 70 percent of the aggregate 20-million new jobs every year. Wang said that the lower-end labor market, especially the migrant workers who are the biggest source of employees in the export enterprises, would suffer from unemployment. As the crisis is now just beginning to hit the real economy, the whole situation could be worse if there is no countermeasure. The fear of unemployment is also hovering over other places. College students and white-collar workers are now worried about their future in the open market.
Wu Bangguo, Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008. BEIJING, Dec. 15 (Xinhua) -- China's top legislators on Monday approved the Ministry of Finance to expend "a certain amount" of fund in advance before the central budget is reviewed and approved next spring. The chairman and vice-chairpersons of National People's Congress (NPC) Standing Committee made the decision at their meeting here Monday, said a statement issued after the meeting presided by Wu Bangguo, chairman of the NPC Standing Committee. The statement did not reveal the exact number of the fund. "In face of serious challenges from domestic and international market, the government has carefully adjusted the macroeconomic policies," the statement said. "The new moves were proved to be correct and effective." The central budget is supposed to be discussed at the NPC annual session in next March. Wu Bangguo (C), Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008. At the meeting, they also discussed the agenda of the six session of the 11th NPC Standing Committee, expected to convene from Dec. 22 to 27. Under the proposed agenda, lawmakers taking part in the session would review the draft amendments to the law on precautions against earthquake and disaster relief, the patent law, the criminal law and insurance law as well as drafts of the law on social insurance and tort liability law. The draft law on arbitration of rural land contract conflicts and draft amendment to the law on statistics will be first tabled at the session. Two international pacts are due to be ratified during the session: the pact on the joint military exercises held by the Shanghai Cooperation Organization members and the one on criminal judicial assistance between China and United Arab Emirates. The State Council will table four reports, on implementation of the 11th Five-Year Plan, on measures to cope with international financial crisis and maintain a stable healthy economic growth, on measures to stabilize consumer price and on efforts to control water pollution.
BEIJING, Feb. 1 (Xinhua) -- China's Foreign Ministry has demanded that the U.S. Embassy to China facilitate travel for the families of those killed and injured in Friday's tour bus crash near the Hoover Dam in Arizona. In a statement released Sunday, the ministry confirmed that six Chinese nationals died and nine were injured, including one from Hong Kong. The Chinese Embassy in the United States and Consulate General in Los Angeles immediately dispatched a team assist U.S. authorities with treating the injured and investigating the accident. An official walks by a fatal tour bus accident that left seven Chinese tourists dead on US-93 near Dolan Springs, Arizona January 30, 2009. In collaboration with the Shanghai municipal government, the foreign ministry will send a task force to the United States to help deal with the accident, the statement said. The foreign ministry also notified the Hong Kong Special Autonomous Region government, regarding the Hong Kong residents involved in the crash.
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