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TIANJIN, Feb. 16 (Xinhua) -- Chinese Premier Wen Jiabao went on a morale boosting tour in the northern port municipality of Tianjin, an industrial hub near Beijing, Sunday and Monday. Wen talked with textile workers, steel makers, tire manufacturers and students during the tour to see how the city is weathering the global financial crisis. Chinese Premier Wen Jiabao (L Front) talks with workers as he visits an iron and steel factory in Tianjin, north China, Feb. 15, 2009. Premier Wen made an inspection tour in Tianjin on Feb. 15-16At the Tianjin Tianfang Investment Holding Co., a textile firm, company chairman Liu Baogen told Wen January sales increased 0.3 percent year on year and orders have been secured till March. Wen said the textile industry is a pillar of China's economy. He offered three suggestions to the sector: Adjust the product structure according to domestic and overseas demand; increase corporate competitiveness by lifting product quality and reducing costs; explore sales in both the domestic and overseas markets. Chinese Premier Wen Jiabao (L) shakes hands with a student as he visits Nankai University in Tianjin, north China, Feb. 15, 2009. Premier Wen made an inspection tour in Tianjin on Feb. 15-16.The Premier also visited a watch maker, an auto molding company, the construction site of an ethylene and refinery project and an animation technology firm. Wen told employees to explore the market and look for new opportunities against the ongoing global financial crisis. He also went to see students at Nankai University, the most reputed college in Tianjin. He reassured them government agencies would do their best to find them jobs.
BEIJING, March 30 (Xinhua) -- Aluminum Corporation of China Ltd. (Chalco), reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008, due to product price fluctuations on the international market, the company's annual report revealed Monday. "The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement. The shock from the financial crisis, rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement. Chalco's business turnover reached 76.73 billion yuan, down 9.94 percent from last year, largely because of a decline in product prices, said a statement submitted to the Shanghai Stock Exchange. The price of alumina, a major type of aluminum product, which at one point reached 4,500 yuan per tonne in the domestic market in 2008, dropped to 1,900 yuan per tonne as demand shrank drastically because of the financial crisis, said the statement. Board chairman Luo Jianchuan said the company should actively cope with the problem, which would persist in 2009. Measures should be taken to cut cost, control investment, and maintain stable production. Though estimated to suffer losses in the first quarter this year, Chalco was confident it would "get over the difficulties and have a bright prospect," said Luo. Share prices of Chalco on Shanghai Stock Exchange plunged more than 4 percent to 10.46 yuan Monday morning. Aluminum Corporation of China (Chinalco), Chalco's parent company, had obtained support from four Chinese banks, including the Bank of China (BOC), to finance its bid for the world's third largest miner Rio Tinto. They have signed agreements to provide 21 billion U.S. dollars worth of syndicated loans to support the bid.

SHENYANG, Feb. 18 (Xinhua) -- A senior Party official on Tuesday called for all-out efforts to safeguard fairness, justice and social stability, through improving the political and legal work and developing the law-enforcement sector. Zhou Yongkang, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the remarks at a workshop on political and legal work and safeguarding stability in northeast China, held in Shenyang, the capital of northeastern Liaoning Province. Zhou, who also heads the Central Political Science and Law Commission (CPSLC) of the CPC, made an inspection tour of the three northeastern provinces of Heilongjiang, Jilin and Liaoning from Feb. 11-16 and attended the workshop on Wednesday. The senior Party official urged local authorities, political and legal departments in particular, to implement central government's policies and integrate their efforts to safeguard social stability with efforts to achieve economic development. "Social stability relies on economic development," he said. Zhou told local authorities to conduct an assessment on social risks before deciding on a new policy. Officials should visit communities and villages to hear complaints from the people and learn about people's will, so as to resolve contradictions and disputes at the grassroots level, he said. The official urged leading officials and law-enforcers to play a role in protecting the dignity and authority of socialist legal system. "Every citizen must express their will and protect their rights in a reasonable and lawful way, so as to jointly safeguard the general stable situation of reforms and development," he said. Law-enforcement must always give top priority to the Party's cause, the people's rights and interests, and the Constitution and law, Zhou said. He urged law-enforcers to be a guard for the safety of people's life and properties as well as social fairness and justice. The workshop was presided by Minister of Public Security Meng Jianzhu, who is also a state councilor and deputy secretary of the CPSLC. Wang Shengjun, president of the Supreme People's Court, also spoke at the workshop.
BEIJING, April 14 (Xinhua) -- Chinese cities saw the fastest economic growth among all cities internationally, in 2008, but their overall competitiveness was still only at medium or low levels globally, according to a report released here Tuesday. The report, entitled the Blue Book of Urban Competitiveness, was released by the Chinese Academy of Social Sciences (CASS). It showed that ten of the 15 fastest-growing cities worldwide in 2008 were in China. The ten cities are Baotou and Hohhot in the northern Inner Mongolia Autonomous Region, Yantai, Weifang and Weihai in eastern Shandong Province, Dongguan, Zhongshan and Huizhou in southern Guangdong Province, and Wuhu and Hefei in eastern Anhui Province. However, Chinese cities ranked at only medium or low levels among world cities in terms of overall competitiveness, the report said. The ten most competitive cities in China, according to the report, are Hong Kong, Shenzhen, Shanghai, Beijing, Taipei, Guangzhou, Qingdao, Tianjin, Suzhou and Kaohsiung. But Hong Kong only ranked the 26th among world cities, Shanghai the 41th, and the others still lower. Ni Pengfei, a CASS scholar who led the research, said 294 large and medium-sized China cities were rated, including those in Hong Kong, Macao and Taiwan. The overall competitiveness of a city is based on its advantages in human resources, capital, science and technology, infrastructure, environment, governance and so on. The report was compiled by nearly 100 scholars from Chinese universities, statistics departments, and research institutes.
BEIJING, March 31 (Xinhua) -- Chinese President Hu Jintao has called for strengthened coordination among different nations on economic polices and joint efforts against trade and investment protectionism to help the world economy recover. The international community as a whole was severely challenged in the course of tackling the global financial crisis and resuming growth in the world economy, Hu told Xinhua on Tuesday ahead of the G20 summit scheduled to open in London on Thursday. With the impact of the global financial crisis on the real economy unfolding and deepening, priorities should be taken by various countries to adopt economic stimulus measures in line with their own situations and work hand in hand to promote growth and employment and improve the people's lives, according to Hu. Efforts should also be made as soon as possible to stabilize the global financial market and earnestly give play to the role of finance in spurring the real economy to restore confidence of the people and enterprises, Hu said. "The international financial system should undergo necessary reforms in an all-round, balanced, gradual and effective manner to prevent a similar crisis in the future," the president noted. China as a responsible country would work with all the other parties attending the summit to help it yield "positive" and "practical" results, Hu said. China pledged to give its own contribution to the recovery of world economy. The country would adhere to its fundamental national policy of opening up to the outside world and mutually beneficial and win-win strategies, Hu said. A vigorous and more open China would not only benefit its own steady, fast growth, but help the international community fight the financial crisis and contribute to the world's peace and development, Hu said. The country has set an 8 percent target for economic growth this year, still notably higher than the 1 percent world average estimated by the World Bank. China grew 9 percent in 2008, the slowest pace in seven years. The global financial crisis and economic slowdown have created many difficulties for China, Hu said, citing the slump of exports and imports, slower industrial production and unemployment. But a basket of governmental measures to stimulate domestic demand and promote economic growth have begun to take effect, he added. Beginning in late 2008, the Chinese government has issued a comprehensive economic stimulus package including a 4 trillion yuan (585 billion U.S. dollars) investment plan and support plans for ten key industries. The country's central bank has cut interest rates five times and lowered deposit reserve ratio four times in an effort to enhance capital fluidity. "We have confidence, conditions and capabilities to keep a steady and rapid growth," Hu Jintao said.
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