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BUSAN, South Korea, April 12 (Xinhua) -- Experts from China, Japan and South Korea attending a regional forum here on Sunday called for closer cooperation among the three countries in tackling the global financial crisis. The proposal was made at the fourth session of the Northeast Asia Trilateral Forum, a regional platform with political, business and academic experts from the three countries. Vice President of China's Xinhua News Agency Zhou Xisheng (R), Lee Hong-koo (C), former prime minister of the Republic of Korea (ROK) and Ryoki Sugita (L), head of the Nihon Keizai Shimbun (Japanese Economic News Press), attend the opening ceremony of the Forum of Northeast Asian Prominent Figures, in Pusan, ROK, April 12, 2009. The fourth Forum of Northeast Asian Prominent Figures was opened on Sunday in Pusan. In his speech to the forum, former Chinese vice premier Qian Qichen said that the issues of the financial crisis, energy security, environmental protection and climate change have been interwoven and become global challenges, and no country alone can counter these challenges. China, Japan and South Korea are major forces in maintaining world financial stability and promoting global growth, and the most pressing task is to work together to take every necessary measure to curb the spread of the crisis and mitigate its impact on economic growth and market stability, he said. Vice President of China's Xinhua News Agency Zhou Xisheng (R) talks with Lee Hong-koo, former prime minister of the Republic of Korea (ROK), during the opening ceremony of the Forum of Northeast Asian Prominent Figures, in Pusan, ROK, April 12, 2009. The fourth Forum of Northeast Asian Prominent Figures was opened on Sunday in PusanFormer Japanese prime minister Yasuhiro Nakasone suggested in his speech that experts from the three countries form a group to search for a solution to the world financial crisis. Former South Korean prime minister Lee Hong-koo said the consensus on building new world orders in politics, economy and other fields needs to be more broadly shared so as to better tackle the crisis that all are faced with. The forum will focus on cooperation among South Korea, China and Japan in dealing with the world financial crisis, which will lay a good foundation for the further development of ties among the three countries, Lee said. The Northeast Asia Trilateral Forum is a yearly event cosponsored by the Xinhua News Agency of China, the Nikkei news group of Japan and leading South Korean daily Joong Ang Ilbo, and gathers prominent figures from all walks of life in the three countries. This year's meeting is set to discuss global financial risks, environment, energy and culture.
LONDON, April 3 (Xinhua) -- Chinese President Hu Jintao made concrete proposals on tackling the global financial crisis at the G20 London summit, playing an important and constructive role for the summit to gain pragmatic results, the Chinese foreign minister said on Friday. "The summit produced measures of high value in fighting the financial crisis and built up confidence for the world to tide over the crisis and renew economic growth," Yang Jiechi said, adding that Hu's proposals contributed to the result. Chinese President Hu Jintao attends the Group of 20 summit in London, Britain, April 2, 2009. The international community held high expectations, especially on influential emerging economies such as China, and President Hu's attendance caught much attention, Yang said. At the summit, Hu called for international cooperation, actively participated in various discussions, comprehensively introduced China's effective measures in dealing with the financial crisis, Yang said. According to Yang, the Chinese president's trip was proved to a success mainly in five aspects. Chinese President Hu Jintao (R) meets with British Prime Minister Gordon Brown in London, Britain, on April 1, 2009. Firstly, Hu expounded China's opinions on the global financial crisis and called for coordination and support between each other to "join hands and tide over the difficulties together." Hu reiterated the Chinese government's willingness to strengthen macroeconomic policy coordination with the international community, push the reform of the international financial system forward, actively safeguard the stability of the multilateral trade mechanism and contribute to the restoration of the world's economic development. Secondly, Hu put forward proposals on reforming the international financial system, saying efforts should be made to strengthen cooperation in financial regulations, formulate as soon as possible widely accepted standards and norms of the regulations, Yang said. Chinese President Hu Jintao (2nd R) talks with British Prime Minister Gorden Brown (R) as they prepare to pose for a family photo during the Group of 20 summit in London, Britain, April 2, 2009International financial institutions should offer more aid to developing countries and the Financial Stability Forum should playa bigger role, the Chinese president said. The International Monetary Fund (IMF) should strengthen and improve its supervision over the macroeconomic policies of various economies, major reserve currency issuing economies in particular, with a special focus on their currency issuing policies. Measures should be taken to improve the governance structures of the IMF and the World Bank and give more say to developing countries. Thirdly, Hu introduced to world leaders China's anti-crisis measures and preliminary achievements gained in tackling the economic downturn. Fourthly, China voiced strong opposition to protectionism and concerns over development issues, Yang said. Hu pointed out that protectionism had produced grave consequences, lessons of history must be learnt, and no country should resort to protectionism under the excuse of stimulating the economy. Yang said the crisis has taken its toll particularly on the developing nations and the UN Millennium Goals have also suffered as a result. China, as the world's biggest developing nation, has spared no efforts in defending the interests of developing nations, the minister said. Fifthly, Hu's visit promotes bilateral relations with some countries, Yang said. Chinese President Hu Jintao (L) shakes hands with U.S. President Barack Obama during their meeting in London, Britain, on April 1, 2009In London, Hu held talks with his U.S. counterpart Barack Obama in the first meeting between the two heads of state since the new U.S. administration took office in January, agreeing to build a positive, cooperative and comprehensive relationship in the 21st century and establish a new "China-U.S. Strategic and Economic Dialogue" mechanism. The meeting ushered in a new era which features healthy and stable development of China-U.S. relations, Yang said. In a meeting between Hu and his Russian counterpart Dmitry Medvedev, the two leaders agreed to push forward bilateral ties, jointly tackle the global financial crisis and strengthen coordination in dealing with international affairs. Chinese President Hu Jintao (L) meets with Russian President Dmitry Medvedev in London, Britain, April 1, 2009When meeting with British Prime Minister Gordon Brown, Hu reached broad consensus with him on tackling the international financial crisis, promoting the reform of the world financial system and enhancing bilateral relations. Hu also met with his French counterpart Nicolas Sarkozy, Japanese Prime Minister Taro Aso, Brazilian President Luiz Inacio Lula da Silva, Australian Prime Minister Kevin Rudd, and South Korean President Lee Myung-bak. Despite a tight schedule, Hu tried to seize every opportunity to explain China's positions and views on various issues and achieved good results, Yang said. Chinese President Hu Jintao (R) shakes hands with French President Nicolas Sarkozy during their meeting in London, Britain, on April 1, 2009G20 groups the world's major economies and serves as a key and effective platform for tackling the current global economic and financial challenges, Yang said. China is ready to work with other G20 members to implement the consensus reached at the London summit and make greater contributions to overcoming the financial crisis, renewing global economic growth and advancing international financial reforms, the minister concluded.
SANYA, April 17 (Xinhua) -- Chinese Premier Wen Jiabao met here Friday with Kazakhstan's President Nursultan Nazarbayev and discussed the measures to withstand the impact of the global financial crisis. The two leaders, who were in the city of Sanya for the 2009 meeting of the Boao Forum for Asia (BFA) in south China's Hainan Province, expressed willingness to make concerted efforts to cope with the crisis. Chinese Premier Wen Jiabao (R) meets with Kazakhstan's President Nursultan Nazarbayev in Sanya, south China's Hainan Province, April 17, 2009. Nazarbayev arrived here to attend the Boao Forum for Asia (BFA) Annual Conference 2009 which would be held in Boao, Hainan from April 17 to 19Wen spoke highly of the rapid development of the China-Kazakhstan strategic partnership. Wen put forward a four-point proposal on enhancing Sino-Kazakh cooperation to tide over the difficulties. He said the two countries should: -- take effective measures to maintain the growth of bilateral trade; -- fulfill previous agreements and give priority to the cooperation in the energy and resources sectors; -- reinforce financial and investment cooperation to ensure smooth implementation of major cooperation projects; -- promote cooperation in the non-resources field, such as infrastructures, so as to forge a more dynamic bilateral trade relation. Nazarbayev said the two countries had signed a series of cooperative documents during his visit, which fully reflected the common will of the two nations to jointly resist the financial crisis and China's strong support to Kazakhstan. He believed that China would certainly be able to cope with the challenges, which was crucial for strengthening the international effort in combating the crisis. Kazakhstan agreed with China's tentative plan on enhancing economic and trade cooperation between the two countries and was ready to work with China to boost cooperation in such sectors as oil and gas, agriculture, technology innovation, finance and transportation, he said. The BFA, established in 2001, is a high-level forum where governments, businesses and scholars promote regional economic integration and bring Asian countries closer to their development goals. Under the theme "Asia: Managing Beyond Crisis," more than 1,600participants will discuss how to cope with the international financial crisis.
BOAO, Hainan, April 18 (Xinhua) -- Much has been talked about signs of recovery in Chinese economy, but little is certain about long-awaited rebound. Discussing the latest development of Chinese economy at the Boao Forum for Asia (BFA), worldwide officials, business executives and professionals remained prudent about China's 8-percent gross domestic product (GDP) target in 2009, but mentioned some favorable changes in the country's economy. Bob Hawke, former prime minister of Australia, forecast China's GDP growth between 7 percent to 8 percent. In the meantime, he believed a reversal had come. "The four-trillion-yuan stimulus (package) is now beginning to work, and China's economy ... has reached the bottom and started to come up now," Hawke told Xinhua at the forum. Increasing stress of sluggish exports, dampened employment and shrinking corporate profits have pulled down the Chinese economy to a growth of 6.8 percent in the fourth quarter last year. A favorable trend might be forming in the first quarter of this year. Ding Lei, president of Shanghai General Motors Corporation Ltd., observed increasing domestic demand for motor vehicles. "Our automobile exports remain low, but auto sales gained 12.9 percent in the first quarter compared with the fourth quarter last year," Ding said. "China's policy package to boost automobile industry has effectively activated domestic market, and boosted the confidence of companies," Ding said. John Cleland, chief executive officer of WestNet Infrastructure Group that has resources products trade with China, also noticed "some increase in demand". "It's very hard to say, but there are signs of recovery of (China's demand for resources products)," he told Xinhua. "Stockpiles of iron ore and steel in China have been reducing, so hopefully some projects that were put on hold have come back in the line," he said. "China will come through (the crisis) quickly. Resource demand will recover. The demand for iron ore and basic commodities will recover quicker than consumer economies," he said. Stable growth can also be expected in infrastructure. As China builds its nationwide mobile network, considerable and stable job opportunities can be created, said Per-Olof Bjork, general manager of Greater China Affairs of Ericsson Group Headquarters. However, the changes are mainly felt in industries covered in the government's stimulus package, and China might need to go through a more painstaking path to ensure healthy and stable economic growth. Chinese economy has shown more optimistic signals in the first quarter, but there are many uncertainties, said Chris Morley, managing director of Nielson China. One uncertainty is the grim global economic climate. The U.S. and European economies are struggling in the crisis, which means China has to seek more internal growth to make up for the loss in exports. The first quarter continued to see a slash in exports, which declined 19.7 percent year on year. Exports used to be one of three major sectors driving the Chinese economy, but it contributed negative 0.2 percent to the country's economic growth in the quarter. Existing problems made it more difficult for Chinese economy to stay away from the impact of global crisis. Yao Gang, vice chairman of the China Securities Regulatory Commission, commented that China's economy is facing a key era that calls for upgrading in development pattern and adjustment of structure. China's mission is not only to maintain stable economic growth, but also handle excess industrial production capacity, expand domestic consumption and reduce income gap, all of which demand sophisticated policies and persistent efforts from the government, Yao said at the BFA annual conference. On April 15, China's Cabinet, the State Council, urged faster implementation of the two batches of government investment, and kicked off the third batch. "Only approximately 30 percent of the scheduled investment has been injected into the Chinese economy," said Edgar Hotard, board chairman of Monitor Group (China). "If the rest 70 percent were also put into the economy, it would bring further growth." Rolf D. Cremer, dean of China Europe International Business School, said China reacted more swiftly and decisively than expected, maintaining a relatively stable growth rate, which allowed more room for adjustment and reform. Chinese economy was still on the growing path, with industrialization and urbanization acting as the two major growth engines, said Long Yongtu, secretary-general of the BFA. "I have always believed that Chinese economy will stop its sliding trend in a comparatively short time and return on the track of stable and rapid development," he said.
BEIJING, April 16 (Xinhua) -- Chinese President Hu Jintao and his Kazakh counterpart Nursultan Nazarbayev held talks in Beijing Thursday afternoon. The heads of states agreed to deepen bilateral cooperation in all fields and join hands to tackle the challenge of international financial crisis. After the talks, Hu and Nazarbayev signed a joint declaration and witnessed the signing of 10 agreements on cooperation in the fields of transport, education, agriculture and telecommunications. Chinese President Hu Jintao(R) shakes hands with Kazakhstan's President Nursultan Nazarbayev in Beijing, China, April 16, 2009. President Hu said the strategic partnership between China and Kazakhstan had maintained a fast growth in recent years. The two countries have maintained frequent high-level contacts, political mutual trust, expansion of practical cooperation and good collaboration within the multilateral frameworks. Chinese President Hu Jintao(L) and Kazakhstan's President Nursultan Nazarbayev review honor guards at the welcoming ceremony in honor of Kazakhstan's President in Beijing, China, April 16, 2009. Hu expressed gratitude to Kazakhstan for supporting China on such major issues as Taiwan, Tibet and the holding of Beijing Olympics and Paralympics. Nazarbayev said Kazakhstan values the development of friendly and cooperative relations with China. He said China has raised its status in the international community by successfully holding the Olympic Games and launching the Shenzhou-7 spacecraft. He said the effective measures taken by the Chinese government to cope with the global financial crisis have benefited not only the Chinese economy, but also the world economic growth. Hu said the Chinese government always gives priority to developing the strategic partnership with Kazakhstan. Hu suggested that the two countries should work on four areas. Firstly, Hu said the two countries should continue to enhance high-level contact, improve cooperative mechanism and deepen political links. The leaders of the two countries should maintain close contact. The governments of the two countries should give full play to the role of China-Kazakhstan Cooperation Committee to increase communication and coordination. The parliaments and political parties of the two countries should carry out exchanges in various forms on the experience of governing their respective countries. Secondly, the two countries should utilize the complementarity of their economies to deepen cooperation in such fields as economy, trade, energy, resources and finance to achieve common development. The two sides should further optimize trade structure, expand the scale of bilateral trade, work together to build major energy and resources projects and non-resources projects, and accelerate infrastructure construction at border areas. Thirdly, the two countries should promote cultural exchanges and cooperation. China is ready to deepen cooperation with Kazakhstan in culture, education, health, tourism and sports. He said the two countries should encourage non-governmental organizations, media and youth organizations to expand contact and enhance friendship. Fourthly, the two countries should deepen security cooperation and join hands to tackle various challenges. He said China will continue to strengthen coordination and cooperation with Kazakhstan within such multilateral frameworks as the United Nations, Shanghai Cooperation Organization and Conference on Interaction and Confidence-Building Measures in Asia. He said the two countries should join effort to strike trans-border organized crimes and the evil forces of separatism, terrorism and extremism so as to safeguard peace, stability and security of the two countries and the whole region. Nazarbayev fully agreed with Hu's suggestion, saying under the current situation, Kazakhstan is ready to strengthen its strategic partnership with China. He expressed the willingness to expand bilateral cooperation in trade, energy, transport, agriculture, finance and telecommunications. He said the two countries should continue to step up cooperation in multilateral arena, especially within the frameworks of the United Nations, Shanghai Cooperation Organization and Conference on Interaction and Confidence-Building Measures in Asia. He said the two countries will work together to fight against the three evil forces of separatism, terrorism and extremism to maintain peace and stability in the region and the world over. Nazarbayev reiterated that Kazakhstan supports China's stance on the issues of Taiwan and Tibet. It supports China to safeguard sovereignty and territorial integrity. Before the talks, President Hu hold a welcome ceremony for President Nazarbayev at the Great Hall of the People.