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BEIJING, Oct. 21 (Xinhua) -- Chinese President Hu Jintao on Tuesday spoke over phone with his U.S. counterpart George W. Bush about international cooperation to cope with the ongoing global financial turmoil.     The leaders exchanged ideas about the planned international financial summits and strengthening international cooperation to stabilize the financial markets.     Bush said the United States hopes to make joint efforts with the international community to seek measures to overcome the crisis and maintain the stability of the world economy.     Hu, for his part, said China has noted the efforts made by the U.S. government to stabilize the domestic financial market. He expressed hope that the measures would take effect as soon as possible, restore investor confidence and prevent further expansion of the crisis.     The measures are conducive to the stability of the world economy and financial markets, Hu said.     The Chinese government has taken a series of important measures to tackle the financial crisis and maintain the stability of financial and capital markets, as well as ensure steady economic growth, he added.     The government of China will continue to assume a responsible attitude toward the Chinese people and people of other countries, and to work closely with the international community to maintain the stability of the global economy and financial markets, President Hu said.

BEIJING, Jan. 12 (Xinhua) -- China and the United States on Monday agreed that Sino-U.S. relations had become one of the most dynamic and important bilateral relations in the world. Chinese Vice President Xi Jinping (R) shakes hands with former U.S. President Jimmy Carter, who is here to attend the commemorative events of the 30th anniversary of the establishment of diplomatic relations between China and the United States, in Beijing, capital of China, Jan. 12, 2009.     Chinese Vice President Xi Jinping and visiting former U.S. President Jimmy Carter made the consensus when addressing a reception in the Great Hall of the People to mark the 30th anniversary of diplomatic ties between the two countries. Chinese Vice President Xi Jinping addresses the commemorative reception of the 30th anniversary of the establishment of diplomatic relations between China and the United States in the Great Hall of the People in Beijing, capital of China, Jan. 12, 2009. Xi hosted about 500 guests from the two countries during the reception on Monday evening.     "As one of the most dynamic and important bilateral relations in the world, Sino-U.S. relations not only benefit the two peoples, but also help world peace and development," Xi said.     Xi said that at this crucial time, during the international financial crisis, China and the United States should deal with bilateral relations from a broader global perspective and from the attitude of keeping pace with the times.     He called for the two nations to constantly review bilateral relations from a strategic and overall perspective and firmly pursue constructive and cooperative relations. Former U.S. President Jimmy Carter addresses the commemorative reception of the 30th anniversary of the establishment of diplomatic relations between China and the United States in the Great Hall of the People in Beijing, capital of China, Jan. 12, 2009.     The two countries should maintain exchanges and improve all dialogue and cooperation mechanisms, so as to increase mutual understanding and trust, Xi said.     China and the United States should increase cooperation to jointly respond to global challenges, and expand common interests to contribute more to world peace and development, he added.     Xi also called for the two countries to abide by the three Sino-U.S. joint communiques and respect each other's core interests in a bid to safeguard and promote their relations. Chinese Vice President Xi Jinping (front, 2nd R) talks to former U.S. President Jimmy Carter (front, C), who is here to attend the commemorative events of the 30th anniversary of the establishment of diplomatic relations between China and the United States, while they are taking a group photo in Beijing, capital of China, Jan. 12, 2009.     The two nations should strengthen friendly exchanges between their peoples to cement the social basis for friendship, he said.     The two countries saw trade exceed 300 billion U.S. dollars in 2007, about 120 times of that 30 years ago.     So far, the two governments have signed more than 30 agreements of cooperation, and set up more than 60 dialogue mechanisms. Chinese Vice President Xi Jinping (C) toasts to former U.S. President Jimmy Carter (L) and former Secretary of State Henry Kissinger (R) during the commemorative reception of the 30th anniversary of the establishment of diplomatic relations between China and the United States in the Great Hall of the People in Beijing, capital of China, Jan. 12, 2009.     China and the United States, as cooperative partners, not strategic opponent, enjoyed mutually beneficial relations, not zero-sum competitive ties, Xi said. The cooperation was conducive for both countries, for the Asia-Pacific region, and for the world at large.     Former U.S. President Jimmy Carter said in his address that the relationship "is the most important diplomatic relationship in the world today."     Carter, who, in office, made the decision to normalize relations with China, said, "History has shown that normalization brought greater security and prosperity to more people, not only to the U.S. and Chinese peoples, but also to the rest of the world." Former U.S. President Jimmy Carter (2nd L), who is here to attend the commemorative events of the 30th anniversary of the establishment of diplomatic relations between China and the United States, presents his new book to Chinese Vice President Xi Jinping (R) in Beijing, capital of China, Jan. 12, 2009.     He said he was fortunate to see the relationship flourish and to observe China reinventing and rebuilding herself into a nation that has "changed her mission to the Chinese people and to the world".     "If we are to overcome the challenges of the 21st Century, including global warming and climate change, disease control, terrorism, nuclear proliferation and a global financial crisis, our two nations must maintain the mutual respect that has served us in the past," he said.     "The founding principles of 'understanding, patience and persistence' that began 30 years ago should never be in danger," Carter said, referring to the incoming administration of President-elect Barack Obama.     Carter said he had always adhered to the one-China policy. "I consider it an essential policy priority of the United States that the People's Republic of China be recognized as the sole government of China," he noted.     Xi met with Carter before the reception, applauding the efforts of Carter and other politicians to promote the Sino-U.S. relations. Xi hoped they would continue their work.  

DESTROYER WUHAN, Dec. 29 (Xinhua) -- The Chinese naval fleet sailed into the Strait of Malacca on Monday after its departure from China's southernmost island province of Hainan on an escort mission against piracy off Somalia Friday afternoon.     The fleet sailed into Singapore Strait Monday morning after over 20 hours' voyage from the South China Sea and arrived at the Strait of Malacca. It is expected to reach the Indian Ocean Tuesday.     The convoy, which includes two of China's most sophisticated naval destroyers, DDG-169 Wuhan and DDG-171 Haikou, and a supply ship Weishanhu, is heading for the Gulf of Aden to join a multinational patrol in one of the world's busiest sea lanes where surging piracy endangers international shipping. A helicopter of the Chinese naval fleet attends a landing exercise at night on Dec. 28, 2008, while the Chinese naval fleet heads for the Gulf of Aden. The Chinese naval fleet including two destroyers and a supply ship set off on Dec. 26 for waters off Somalia for an escort mission against piracy.     The fleet carries about 800 crew members, including 70 soldiers from the Navy's special force, and is equipped with missiles, cannons and light weapons.     The recent pirate attack on a Chinese fishing vessel has raised great concern of the Chinese government and people. Statistics showed that some 1,265 Chinese commercial vessels had passed through the gulf so far this year and seven had been attacked.     The UN Security Council has adopted four resolutions calling on all countries and regions to help patrol the gulf and waters off Somalia since June. The latest resolution authorized countries to take all necessary measures in Somalia, including in its airspace to stop the pirates. A helicopter of the Chinese naval fleet attends a landing exercise at night on Dec. 28, 2008, while the Chinese naval fleet heads for the Gulf of Aden. The Chinese naval fleet including two destroyers and a supply ship set off on Dec. 26 for waters off Somalia for an escort mission against piracy.

BEIJING, Feb. 1 (Xinhua) -- The Chinese government vowed to beef up vocational training for migrant workers, college graduates and laid-off workers, who were badly hit by the global financial crisis, to help them land jobs, according to a joint circular issued by three ministries.     Local government should offer the migrant workers necessary training to help them find jobs in the railway and infrastructure construction, power sector and rebuilding of the quake-hit areas, according to the joint circular issued by the National Development and Reform Commission, the Ministry of Finance and the Ministry of Human Resources and Social Security.     Vocational schools and technical training institutions should enhance training for people who were affected by the crisis, and work out programs to help them find new jobs, said the Ministry of Human Resources and Social Security on Sunday.     China's urban unemployment rate was 4.2 percent at the end of 2008, up 0.2 percentage points year on year, according to official figures.

BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30.     The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent.     This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year.     The growth rate was 2.3 percentage points lower than the same period of last year, and half a percentage point lower than the first half.     "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang.     The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say.     Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices.     China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted.     Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption.     "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added.     However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important.     Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market.     China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months.     Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown.     The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.

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