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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, March 6 (Xinhua)-- China has named its first home-made jumbo jet C919, which will take off in around eight years, its chief designer Wu Guanghui said on Friday.     "C represents China as well as COMAC, the abbreviation for Commercial Aircraft Corporation of China, Ltd," said Wu, who is also the deputy general manager of COMAC, the manufacturer of C919.     "The name also reflects our determination to compete in the international market for jumbo jet. C919 comes after Airbus and Boeing, so you will have ABC in the aviation industry," said Wu, apolitical advisor who is here attending the annual session of 11thNational Committee of the Chinese People's Political Consultative Conference.     The first 9 in the name implies forever in Chinese culture, while 19 means the first jumbo jet produced by China will have 190seats, he said.     Wu said that his company will choose suppliers of engines, airborne equipment, and materials through international bidding, and will encourage foreign suppliers to enter into partnership with Chinese manufacturers.     "We will choose foreign-manufactured products like engines at the beginning phase, but we will also independently do the research and manufacturing work at the same time," noted Wu.     The Shanghai-based COMAC was set up in May, 2008 after approval in early 2007 by the State Council, China's Cabinet. It has a registered capital of 19 billion yuan (2.78 billion U.S. dollars), with the State-owned Assets Supervision and Administration Commission as the biggest shareholder.     Wu said the jumbo jet project now involves 47 institutions from China and abroad, and that the preliminary general technical design plan and commercial feasibility study have been completed.

BEIJING, April 6 (Xinhua) -- China will promote health-care reform in four areas -- public health services, medical treatment, medical insurance and drug supply -- for both urban and rural residents, according to a central government document released on Monday.     The reforms will make health-care more convenient and affordable and narrow the urban and rural gap, said the reform guidelines, jointly issued by the Central Committee of the Communist Party of China (CPC) and the State Council.     The government will provide unified education on disease prevention and control, health-care for women and children, first aid, blood donation and family planning to both urban and rural residents, the guidelines said.     Efforts will be made to further improve the sanitation of living and working conditions for urban and rural residents and to deal with all forms of pollution, said the document, adding that the monitoring for food sanitation and sanitation at work places and schools will be strengthened.     Medical treatment will mainly depend on nonprofit medical organizations with state-run hospitals playing the major role and commercial hospitals developing in a complementary way, the guidelines said.     The medical service in rural areas will be greatly improved, with emphasis on county-level hospitals. Large hospitals in cities should provide long-term aid to county-level hospitals in terms of clinical services, personnel training, technological guidance and equipment sharing, according to the document.     The reform will set up a new urban medical system based on community health-care services, which can help lower the medical expenses and provide more convenient service.     Chinese traditional medicine will play a bigger role in disease prevention and control, and in dealing with emergency public health incidents and medical care services, the document said.     The guidelines said a comprehensive medical insurance system composed of the basic medical insurance for urban employers and employees, basic medical insurance for urban residents and a new rural cooperative medical care program will cover 90 percent of the population by 2011.     In 1998, China began to establish a medical care system, aimed to cover all employers and employees in urban areas. The country introduced a comprehensive medical insurance program, which covers all urban residents, including children and the unemployed, in July 2007. A total of 79 cities were selected to launch the pilot program.     The insurance system's principle will shift from major diseases to also covering minor diseases. Commercial medical care insurance will also be made available to meet individual needs, according to the guidelines.     The document said China will speed up the establishment of a drug supply system to ensure basic supply and safety. The system is based on a catalogue of necessary drugs that are produced and distributed under government control and supervision.     The basic medical insurance will cover all listed drugs to effectively provide access to a range of basic medicines and to reduce quality problems, and prevent manufacturers and business people from circumventing the government's price controls.

DAKAR, Feb. 13 (Xinhua) -- Visiting Chinese President Hu Jintao held talks with his Senegalese counterpart Abdoulaye Wade in Dakar on Friday to discuss promotion of friendly and cooperative ties between China and the West African nation.     Hu said the bilateral relations have made progress in various fields since the resumption of diplomatic ties in 2005, and facts have proved that the China-Senegal friendship is in the fundamental interests of both nations and will have a promising future.     To cement bilateral cooperation and seek more tangible benefits for the two peoples, Hu proposed both nations keep exchange of high-level visits and deepen political trust, and increase communications and cooperation between the two governments, legislatures, ruling parties and local authorities so as to lay a solid political foundation for bilateral ties.     On the economic front, Hu suggested establishing a bilateral economic and trade steering committee to plan and monitor trade cooperation.     China would like to facilitate Senegalese corporations' efforts to do business in and expand their exports to China, and the Chinese government will encourage Chinese businesses and the China-Africa Development Fund to cooperate with Senegalese businesses, Hu said. Visiting Chinese President Hu Jintao (L) meets with his Senegalese counterpart Abdoulaye Wade in Dakar, capital of Senegal, Feb. 13, 2009    Hu called on non-governmental organizations in both nations to increase exchanges, seek multiple forms of cooperation and enhance mutual understanding.     On international issues, Hu said China values the positive role that Senegal has played in African and international issues, and would like to step up consultation and coordination with Senegal in the United Nations, the World Trade Organization and other organizations, in a bid to safeguard the legitimate rights of developing countries and to promote South-South cooperation and South-North dialogue.     Hu said China will keep its promise made at the Beijing Summit of the China-Africa Cooperation Forum in November 2006 and will not reduce its aid to Africa as a result of China's efforts to address the global financial crisis.     China will urge the international community to pay attention to the difficulties the crisis has brought to Africa and to increase Africa's representation and voice in reforms of the international financial system, Hu said, adding that China would like to further communicate and coordinate with Senegal and other African countries to tide over the crisis.     Wade said he was satisfied with the bilateral cooperation since the resumption of diplomatic ties as China has fully honored its commitments and China-aided programs have been going on smoothly.     He appreciated China's generous support for Senegal in the sectors of infrastructure, agriculture, culture, education and public health.     After the talks, the two presidents witnessed the signing of a number of cooperation deals.     Senegal was the third leg of Hu's five-nation tour. The first-ever visit by a Chinese president was warmly welcomed by local people, with the streets from the airport to downtown Dakar being lined up with Chinese and Senegalese flags and welcoming crowds.

BEIJING, April 13 (Xinhua) -- Chinese shares rose 2.84 percent Monday, advancing for a third consecutive day to a nearly eight-month high, on hopes that the economy had outperformed expectations in the first quarter.     Premier Wen Jiabao told reporters in Thailand Saturday that the economy showed signs of better-than-expected changes during the first quarter as a result of the economic stimulus package.     The National Bureau of Statistics is scheduled to release first-quarter growth data Thursday, which are expected to demonstrate a recovery in the world's fastest-growing economy. An investor is inside a securities firm in Chengdu, southwest China's Sichuan Province April 13, 2009    Data already announced have been positive. The central bank said over the weekend that new loans increased 1.89 trillion yuan (about 278 billion U.S. dollars) in March, the third straight month that new loans exceeded 1 trillion yuan.     Economists said the March figure indicated that China's liquidity was abundant, which was crucial to an economic recovery.     Wen said industrial output rose 8.3 percent in March, up from a record low of 3.8 percent in the first two months of the year.     The benchmark Shanghai Composite Index reacted to the positive news and closed at 2,513.7 points, up 69.48 points. The Shenzhen Component Index was up 2.08 percent, or 194.36 points, to 9539.8.     Gains outnumbered losses by 616 to 205 in Shanghai and 532 to 173 in Shenzhen.     Combined turnover rose to 280.46 billion yuan from 239.98 billion yuan the previous trading day.     Coal producers led gains Monday on speculation that coal prices might be raised. The country's largest coal producer, China Shenhua Energy, and six other producers, surged by the daily limit of 10 percent.     Steel stocks gained on hopes of more demand as industrial output picked up. Baoshan Iron & Steel, the nation's top steel maker, rose 4 percent to 5.97 yuan.     PetroChina went up 4 percent to 11.94 yuan and Sinopec rose 5.34 percent to 9.47 yuan on news that the country might soon announce details on a stimulus package for the petrochemical sector.     Shipping lines and other cargo carriers gained broadly on anticipation of an economic recovery. China Cosco rose by the daily limit of 10 percent to 12.87 yuan. China Shipping Development climbed 10 percent to 13.08 yuan. China Southern Airlines, one of the nation's three major carriers, rose 6.22 percent to 6.15 yuan.     Securities analysts expressed optimism about continued gains in the near term. Shanghai-based Shiji Investment said in a report that heavyweights had showed signs of robust performance and the market may rise to new highs.     Analysts at Huaxun, an on-line financial information service, said the market would find support at about 2,450 to 2,470 on buoyant confidence, with investors anticipating a recovery.