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BEIJING, March 14 (Xinhua) -- World media spoke highly of Premier Wen Jiabao's remarks Friday at a press conference and policies China has adopted to battle the economic crisis, saying the two just-concluded political sessions delivered "China's confidence." The two sessions are known as the Second Session of the 11th National People's Congress (NPC) and the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC).     The U.S. Chinese Biz News said in a commentary that China has worked out various measures to boost confidence in a number of fields, noting that the package of measures was unprecedented concerning its covered area, depth and influence. Chinese Premier Wen Jiabao answers questions during a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday    "China's confidence" was frequently used by reporters covering the NPC and CPPCC, making it a key phrase of the two sessions, it added.     Zheng Yide, editor-in-chief of the U.S. Qiaobao, said the two political sessions spurred confidence of the world amid the unfolding economic turmoil.     China has pledged an 8-percent economic growth, and considering the important role it plays on the world platform, such commitment uplifts people's confidence not only in China's economy but also in the world economy, Zheng said.     The Paris-based Nouvelles d' Europe, the biggest Chinese newspaper in Europe, published a commentary saying "confidence" had been a key word running through the two political sessions and left a deep impression on the world.     The recurring word offered China as well as other countries an effective prescription for surviving the economic crisis.     Lianhe Zaobao, a leading Chinese-language newspaper in Singapore, said in an editorial that Wen has unequivocally said China is ready to confront even bigger challenges amid the financial crisis and can "roll out a new stimulus package at any time."     That is a promise not only to the Chinese people but to the whole world, the editorial said.     It is remarkable that China delivered such kind of determination and confidence at a time when the United States and Europe are still entrenched in their positions on measures to overhaul the global financial system, the editorial said.     Nanyang Siang Pau of Malaysia said that China has set an 8-percent economic growth target for this year.     The paper quoted Wen as saying that China's fiscal deficit is controllable and the government's debt level is safe.     China will keep its currency, the yuan, stable at a reasonable and balanced level, Wen was cited as saying. "No country in the world has the right to put pressure on the devaluation or appreciation of the Chinese currency."     Malaysia's China Press and Sin Chew Media also covered the conclusions of the two political sessions and Wen's press conference.

BEIJING, Feb. 28 (Xinhua) -- China on Saturday urged Japan to proceed with discretion in word and deed over the Diaoyu Islands issue.     Chinese Foreign Minister Yang Jiechi expatiated China's stance over the issue when holding talks with his Japanese counterpart Hirofumi Nakasone, urging Japan to act with discretion in word and deed over the Diaoyu Islands issue.     Nakasone arrived here Saturday afternoon for his two-day visit to China.     During the talks, both sides made candid and in-depth exchange of views over regional and international issues of common concern, and agreed to fulfil the consensus reached by leaders of the two countries and maintain steady development of China-Japan relations.     Both sides agreed to strengthen cooperation in bilateral, regional and international issues to cope with the international financial crisis, noting that their cooperation is in the interests of both peoples, and conducive to the world peace, stability and development.     Before his China tour, Nakasone said, in the wake of Japanese Prime Minister Taro Aso's remarks on Thursday, that the Treaty of Mutual Cooperation and Security between Japan and The United States was applicable to the Diaoyu Islands.     Chinese Foreign Ministry spokesman Ma Zhaoxu rejected Nakasone's remarks later in a press release, saying that any words and deeds that bringing the Diaoyu Islands into the scope of the Japan-U.S. Mutual Cooperation and Security Treaty are absolutely unacceptable for the Chinese people.     Ma stressed that the Diaoyu Islands and adjacent islets had been Chinese territories since ancient times and China held "indisputable" sovereignty over the islands.

BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy.     The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December.     The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year    The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways.     "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month."     "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth."     The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy.     The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence.     Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans.     Medium and long-term corporate loans made up 32 percent.     "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International.     The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year.     The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating.     That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said.     Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006.     The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year.     "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan.     But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

BEIJING, Feb. 9 (Xinhua) -- The Communist Party of China (CPC) Central Committee on Monday evening hosted a gala to mark the traditional Lantern Festival.     Top leaders including President Hu Jintao and representatives from Beijing's intellectual circle attended the event.     Prior to the gala's opening, Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, addressed the participants on behalf of the CPC Central Committee. General Secretary of the Central Committee of the Communist Party of China (CPC) Hu Jintao (C) talks with delegates from the intelligentsia during a get-together marking the traditional Lantern Festival at the Great Hall of the People in Beijing, capital of China, Feb. 9, 2009. The CPC Central Committee hosted a get-together here on Monday to mark the Lantern Festival    He said the year 2008 was very extraordinary, during which the CPC Central Committee with Hu as the General Secretary led the Party and the nation to win the victory in combating unusual natural disasters, to successfully host the Olympics and Paralympics, and complete the mission of flying the Shenzhou VII manned spacecraft.     The year 2009 marks the 60th anniversary of the founding of new China, and it is also a pivotal year to face big international and domestic challenges and realize new development in promoting the Party and the country's causes, he said.     The official urged the intellectual circle to shoulder the historic mission and continue to contribute wisdom and strength to the country's reform and opening-up drive and the socialist modernization.     Other leaders attending the gathering included Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Keqiang, He Guoqiang and Zhou Yongkang.     The Lantern Festival, which falls on the 15th day of the Chinese Lunar New Year, is an occasion for family reunion. It marks the formal end of lunar New Year festivities.

BEIJING, March 15 (Xinhua) -- China's advertisement sector generated 189.96 billion yuan (27.78 billion U.S. dollars) of revenue in 2008, up 9.11 percent over the previous year, China's State Administration for Industry and Commerce (SAIC) said Sunday.     The revenue from TV commercials reached 50.15 billion yuan, an increase of 13.22 percent over the previous year. It accounted for26.4 percent of the total, the largest share of the market.     Income from newspaper advertisements rose 6.36 percent from a year ago to 34.27 billion yuan in 2008.     The number of foreign-funded advertisement companies in China soared 27.73 percent from the previous year to 737 by the end of 2008, which accounted for 0.4 percent of the total advertisement firms across the country, according to the SAIC.