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BEIJING, Dec. 27 (Xinhua) -- "Our confidence to face the global financial crisis should rely on science, knowledge and talented people," Chinese Premier Wen Jiabao said Saturday. He made the remark during a visit to Beijing-based Zhongguancun Science Park, known as China's Silicon Valley. "I'm here to consult you on how to let science and technology play a good role for us to not only handle the current difficulties but lay a foundation for long-run development," said the premier. Chinese Premier Wen Jiabao takes group photos with UFIDA Software staff during his visit to Beijing-based Zhongguancun Science Park, known as China's Silicon Valley, Dec. 27, 2008. Wen visited a number of high-tech companies and met with scientists and officials, in the company of Beijing's Communist Party chief Liu Qi and Beijing Mayor Guo Jinlong. The government has launched a series of measures to deal with the current global financial crisis. They gave greater importance to the power of knowledge, science and technology which have far-reaching effects, Wen said. "In front of the crisis, everybody should stand up and be brave to take his responsibility," Wen emphasized. He urged scientists to help domestic enterprises resolve difficulties, improve management, develop new products and create new technology. The science park is celebrating the 20th anniversary of its founding this year.
BEIJING, Oct. 28 (Xinhua) -- China urged Sudan here on Tuesday to take substantial and effective measures to ensure the safety of Chinese personnel after four Chinese workers were kidnapped and killed. "It is one of the most serious killing cases of oversea Chinese workers in recent years and we are very shocked by it," Chinese Foreign Minister Yang Jiechi said via a phone conversation with his Sudanese counterpart Deng Alor. "The Chinese side feels strong indignation and condemns the inhumane terrorist act by the kidnappers on unarmed Chinese company staff, " Yang told Alor, according to a press release from the Chinese Foreign Ministry on Tuesday evening. Sudanese officials earlier reported to the Chinese Embassy in Sudan that five of the nine kidnapped workers were killed on Monday, with two rescued and two missing. It revised the numbers late Tuesday afternoon, saying four were killed, four were rescued and the other was still missing, according to the Foreign Ministry. The nine workers from the China National Petroleum Corporation (CNPC) were kidnapped from an oil field near the western Sudanese region of Darfur on Oct. 18. The Chinese Embassy said they were taken by unknown militants in the Southern Kordofan State, but no armed group had claimed responsibility for the kidnapping. "The Chinese leaders and Chinese government are highly concerned about the case, asking for the utmost rescue efforts with the precondition of ensuring the safety of the kidnapped," Yang, who is among the entourage of Chinese Premier Wen Jiabao's visit to Russia, added. "We hope the Sudanese side will continue its rescue effort, bring the murderers to severe punishment, and take all substantial and effective measures to prevent similar things happening again," Yang said. Alor expressed his condolences to the victims and his sympathy to the victims' families as well as the Chinese government and Chinese people, promising that the Sudanese government would continue its rescue mission for the missing Chinese worker, make the utmost efforts to bring the murderers to justice and protect the safety of Chinese people in Sudan, according to the statement.
SHUIFU, Yunnan, Dec. 28 (Xinhua) -- The Jinsha River in south China was blocked on Sunday to make way for construction of a new hydropower project on the upper reaches of the Yangtze River. At a cost of 43.4 billion yuan (about 6.3 billion U.S. dollars), the Xiangjiaba Hydropower Project is expected to be completed by 2015. It will be able to generate 30.7 billion kw hours of electricity a year. "Electricity generated by hydropower stations will mainly be sold to China's eastern, southern and central regions," said Li Yong'an, general manager of the China Yangtze River Three Gorges Project Development Corporation. "Sichuan and Yunnan provinces will also benefit from it." Workers cheer for the damming of the Jinsha River in the construction of the Xiangjiaba Hydropower Station which is the third largest of its kind in China. In addition to providing power, the project will play a role in flood control and farmland irrigation. About 125,100 people from three counties of Yunnan Province and three counties of Sichuan Province have been resettled to make way for the project. The Xiangjiaba project is one of a series of hydropower plants China plans to build on the Jinsha River to supply electricity to its economically more developed coastal regions. The 2,290-kilometer-long Jinsha River, a tributary of Yangtze River, originates in Tanggula Range and flows through Qinghai, Tibet, Yunnan, and Sichuan. Water is mostly stored in the river's middle and lower reaches where China plans to build 12 hydropower stations to share a 59.08- million-kilowatts installed capacity. Photo taken on Dec. 28, 2008 shows the last phase of damming the Jinsha River in the construction of the Xiangjiaba Hydropower Station which is the third largest of its kind in China.
BEIJING, Dec. 8 (Xinhua) -- China's annual Central Economic Work Conference opened here Monday to set tone for the economic development next year. Observers believed the three-day event would give priority to efforts to maintain stable economic growth. They reckoned in 2009, China would see more risks for worse economic slowdown, more struggling smaller businesses, grim export situation and arduous task of transformation of economic growth pattern. "It is imperative for China to maintain an economic growth of at least 8 percent," said Zhuang Jian, senior economist with Asian Development Bank's China Resident Mission. It was hard for China to bear the consequences of a too slow GDP growth, Zhuang added, citing bankruptcy of numerous enterprises, more migrant workers being laid off and difficulties for college graduates to find jobs. China's macro-economic policies experienced a dramatic adjustment-- from "preventing economic overheating and curbing inflation" at the beginning of this year to "maintaining growth through expanding domestic demand" at present. In the first three quarters, the nation saw its GDP growth slowed to a single-digit rate for the first time over the past five years, thanks partly to macro-economic control efforts and the ongoing financial woes worldwide. "The Chinese economy has suspended continuous heating and proceeded into a period of slow down," Zhang Liqun, a researcher with the macro economy department under the Development Research Center of the State Council, commented. "The slowdown was worse than expected," said Ma Jiantang, head of the National Bureau of Statistics. Data from the bureau showed that the country's GDP growth was 10.6 percent in the first quarter, 10.1 percent in the second, and9 percent in the third. President Hu Jintao said at the end of November that the Chinese economy was pressurized by global economic downturn, obvious ebbing of demand from abroad and weakening of the country's traditional competitive edge. "Impact from the international financial tsunami on the Chinese economy has begun to show up, and to deepen into various sectors of the real economy," said Wang Yiming, deputy head of the macro economic research institute of the National Development and Reform Commission. Since mid October, the Central Government has promulgated a string of policies and measures to prevent the national economy from sliding drastically. They included end of a tight monetary policy and commencement of a moderately easy one, shifting the fiscal policy from "prudent" to "active", starting projects to improve infrastructure and promote people's livelihood, and, expanding domestic demand. The People's Bank of China announced tax exemptions and downpayment cuts as of Oct. 27 to boost the falling real estate sector. The minimum downpayment for a first-time buyer of a residence smaller than 90 square meters was reduced to 20 percent from 30 percent. Interest rates on mortgages for first-time buyers were cut 0.27percentage point. The floor for interest rates was lowered to 70 percent of the central bank's benchmark rate. The central bank cut benchmark interest rates by 0.27 percentage point as of Oct. 30, the third such move in six weeks. The benchmark one-year deposit rate dropped to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate fell from 6.93 percent to 6.66 percent. Tax rebates were raised for 3,486 export items as of Nov. 1. The adjustment covered such labor-intensive industries as textiles, toys, garments, and high-tech products, accounting for 25.8 percent of products covered by customs tariffs. Rebate rates run roughly from 9 percent to 14 percent. On Nov. 9, state councilors announced a four-trillion-yuan (583.9 billion U.S. dollars) economic-stimulus package, which was seen as the most exciting stimuli in 10 years. To boost consumption, particularly in the rural areas where 900 million people inhabited, was important part of efforts to expand domestic demand, observers believed. China has launched a scheme to subsidize rural residents for buying home appliances since the end of 2007. It is estimated that in a period of four years, nearly 480 million units of refrigerators, washing machines, color TV sets and cell phones, which were in huge demand among farmers, will be sold in rural areas nationwide. That means 920 billion yuan to be spent by rural consumers. "There is still a large room for the government to mull more policies to boost consumption, such as raising the threshold for taxable income and increasing income for lower-income earners," said Cai Zhizhou, an economist with the prestigious Peking University. Export has since long been a major driving force for the Chinese economy. Economists believed the stable development of smaller enterprises, particularly the exporters, which provided jobs for 75 percent of urban employees and rural migrant workers, was related to the stability of the enormous Chinese labor market. How to prevent export from sliding down too fast is one of the top concerns of the Chinese government. "It is no doubt that China's export situation will become more grim next year. However, if the country manages to maintain a moderately fast growth in foreign sales of machines and electronics, it will likely achieve a growth of more than 15 percent in export at large," said Mei Xinyu, a trade expert with the Ministry of Commerce. China has taken a string of measures to boost development of smaller enterprises. "It is necessary for the government to work out more detailed, effective methods to mitigate tax burdens and enhance credit support for smaller businesses, and to help them with their efforts to promote technical upgrading and explore more markets," said Zhao Yumin, another economist with the Ministry of Commerce. The service sector, which was able to provide numerous jobs, was yet to be expanded substantially, Zhao added. Zhang Xiaojing, a senior economist with the Chinese Academy of Social Sciences, said that it was definitely wrong for China to waive long-term goals for short-term interests. He believed that to promote the shift of economic growth pattern and maintain the sustainable economic growth would be one of the important topics for the ongoing Central Economic Work Conference.
BEIJING, Jan. 31 (Xinhua) -- A senior official with Communist Party of China (CPC) has urged to ensure social equity and maintain social stability in promoting the country's economic growth. Zhou Yongkang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remark in an article to be published in the journal Qiushi (Seeking Truth), run by the Central Committee of the Communist Party of China on Feb. 1. Zhou, also secretary of the Political and Legislative Affairs Committee of the CPC Central Committee, said that law enforcement organs should push forward reforms of working mechanism and judiciary system. He also stressed that all the law enforcement organs should well comprehend and implement the Scientific Outlook on Development, the Party's new creed, and maintain social stability to celebrate the new China's 60th anniversary of founding on Oct. 1.