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LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the central government would take effective measures to help Hong Kong to ward off the impact of the global financial crisis, safeguard the stability of financial markets and boost economic growth.     Hu made the remarks during a meeting with Donald Tsang, chief executive of the the Hong Kong Special Administrative Region (HKSAR) of China.     Hu expressed his belief that as long as the HKSAR government and people from all circles could be united, the region would maintain its long-term prosperity and stability.     Donald Tsang briefed the president on his government's efforts in dealing with the current financial crisis and voiced his appreciation for the central government's support to Hong Kong. Chinese President Hu Jintao (2nd R) and his wife Liu Yongqing (1st R) meet with Donald Tsang Yam-kuen (2nd L), chief executive of China's Hong Kong Special Administrative Region, and his wife Selina Tsang in Lima, capital of Peru, Nov. 22, 2008. Hu Jintao and Donald Tsang Yam-kuen are in Lima to attend the Economic Leaders' Informal Meeting of the APEC forum slated for Nov. 22-23.    The HKSAR government would continue to make efforts to safeguard the financial and economic stability in the region, the Hong Kong chief said.     Hu also said China went through a lot of big events and difficulties this year, in which Hong Kong compatriots always stood together and shared weal and woe with the people on the mainland.     Hu spoke highly of the disaster-relief efforts provided by the Hong Kong SAR government and people after the May. 12 earthquake to southwest China's Sichuan Province, saying that they had made contributions to the success of China's quake-relief work.     The president said Hong Kong has also successfully completed the task of co-organizing the equestrian competition event of the 2008 Beijing Olympic and Paralympic Games.     The central government would always support Hong Kong and Macao SAR in coping with and overcoming various difficulties, President Hu told the Hong Kong chief.     Both Hu and Tsang are in the Peruvian capital of Lima to attend the 16th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC).

BEIJING, Nov. 20 (Xinhua) -- China has been studying a fuel tax reform to replace the current road tolls imposed upon vehicles, the National Development and Reform Commission (NDRC), the country's top economic planner, announced here on Thursday.     The announcement came after media reports said on Wednesday that the government was likely to impose the fuel tax as early as next month.     The NDRC together with the Ministry of Finance and the Ministry of Transport has jointly held discussions on related issues including abolishing road and waterway maintenance fees, lowering refined oil prices and improving the fuel pricing system.     The planner didn't specify when to launch the long-awaited reform.     The introduction of a fuel tax in China was first proposed in 1994 but has been delayed amid concerns that it would impose too great a burden on those who consumed more oil.     The government has instead collected road maintenance fees from automobile users regardless of how much gasoline or diesel oil they use.     Analysts said the on-going oil price drop presented a good opportunity for China to resume its fuel tax reform.     World crude oil prices fell to the current 53.62 U.S. dollars, down more than 60 percent from the peak price of 147 U.S. dollars in mid-July.

GUANGZHOU, Nov. 22 (Xinhua) -- What China can do for the world is not to sell out its massive dollar reserve, but slightly increase its hold of the currency to give reasonable support to the U.S. effort to save its economy, said a senior economist here on Saturday.     It is indeed difficult for China to handle its huge forex reserve, as the U.S. currency has already depreciated 20 percent against the Chinese yuan, said Cheng Siwei, well-known economist at a financial forum held in Guangdong.     "China would suffer from losses if it sells off the dollar, so our strategy should be not to sell, but to slightly increase dollar reserve," said Cheng, also former vice-chairman of the Standing Committee of the National People's Congress (NPC).     Cheng made the remarks amid increasing concern that China might use its forex reserve to finance its 4-trillion-yuan stimulus plan. China held 1.9 trillion dollars worth of forex reserve by September this year.     China "can only afford to do what is corresponding to its level of development and national power amid a global crisis," said Cheng.     "We should be prudent as to how to deal with our forex reserve," said Cheng, noting that China, despite its large size of economy, has its gross domestic product (GDP) accounting for only 6 percent of the world's total, and its per capita GDP ranking falling out of the top one hundred list.

BEIJING, Oct. 18 (Xinhua) -- China Banking Regulatory Commission (CBRC) chairman Liu Mingkang has urged the banking sector to closely watch the impact of the turbulent international financial environment against the domestic financial market and improve capabilities of risk management.     Speaking at a recent CBRC meeting focusing on the economic and financial situation in the third quarter, he demanded the country's banking sector learn lessons from the U.S. financial crisis and take measures to raise competitiveness.     He outlined several major missions for the country's banking sector:     -- implementing macro-economic control policies and making all-out efforts in pushing reform and renovation of the financial system in rural areas.     -- continuing to focus on credit risk control and precautions.     -- strengthening risk control on overseas investment and actively facing the challenges of turbulence in the international market.     -- improving internal management.     -- summing up lessons and experience from the global financial crisis and adjusting operating concepts and methods.     Liu added the CBRC would enhance its supervision and management on risk and safeguard a stable and healthy development of the country's banking sector

BEIJING, Dec. 30 (Xinhua) -- Accountability became a vogue word in Chinese politics in 2008, highlighted by the resignation of the chief quality supervisor.     Li Changjiang, former director of the General Administration of Quality Supervision, Inspection and Quarantine, stepped down in September in the tainted milk scandal, days after the resignation of Shanxi Governor Meng Xuenong following a deadly landslide triggered by the collapse of an illegal mining dump.     Many junior officials also swallowed the bitter pills of penalties and resignations. In early December, the director of the construction bureau of Shijiazhuang, capital of Hebei Province, was removed from his post after six bureau officials were found gambling during work time.     Officials were even punished for dozing in meetings, such as 12local officials in Shaanxi Province, who were reprimanded in June.     "The accountability system has been taken to a new high, which reflects the method of administration as stipulated in the keynote report of the 17th Party congress," said Wu Zhongmin of the Party School of the Communist Party of China (CPC) Central Committee.     "The party underlines the idea of people first, so it is not unusual that officials are punished after public interests are infringed," Wu said.     Chinese media have used the word "storm" to describe the wave of cases in which officials were punished over accountability -- often indirect -- in accidents and scandals this year. Such events were rare in the past decade.     In southwestern Yunnan Province, 864 officials have been punished so far this year, while at least 279 in the northeastern Jilin Province have been punished since last November.     "A storm is powerful, and the accountability storm shows the country's determination to run the party and government properly," said Han Yu, professor in the Party School of the CPC Hebei Provincial Committee.     The storm also shows the power of public opinion, Han added. "There should be someone held responsible for serious infringement of public interests."     China activated the official accountability system during the severe acute respiratory syndrome (SARS) crisis in 2003. More than1,000 officials, including then Health Minister Zhang Wenkang and Beijing Mayor Meng Xuenong, were ousted for attempts to cover up the epidemic or incompetence in SARS prevention and control.     The system was later introduced at all levels of government, and more officials lost their jobs over major accidents or administrative errors.     Just days before Li's resignation, President Hu Jintao, also general secretary of the CPC Central Committee, reprimanded "some officials" over work and food safety accidents this year.     These accidents indicated that some cadres lacked a sense of responsibility and had loose governance, and some paid no attention to people's complaints and were even insensitive to life-threatening problems, Hu said.     As early as in May, a father complained about tainted milk powder after his 13-year-old daughter developed kidney stones, and the Department of Health of Gansu Province in July received a report implying problematic milk powder produced by the Sanlu Group headquartered in Shijiazhuang city.     However, the scandal was covered up until September. The Ministry of Health has said it was likely the contamination killed six babies. Another 294,000 infants suffered from urinary problems such as kidney stones.     Premier Wen Jiabao said development of enterprises and the economy should not be achieved at the cost of lives and public health, and he vowed to punish officials for major incidents.     Conditions could be tougher for officials in the future, as the CPC Central Commission for Discipline Inspection said in late December that authorities are drafting rules to intensify the accountability system.

来源：资阳报