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WASHINGTON, Oct. 13 (Xinhua) -- A senior Chinese official said on Monday that China will continue to cooperate with other countries to cope with the current financial crisis.     "For the international community, the most urgent task is to join efforts to stem further deterioration and spread of the crisis -- the major threat to global growth -- and restore global economic and financial stability," said Yi Gang, vice governor of the People's Bank of China     "China will continue to strengthen its cooperation with concerned countries and hopes that all governments will work together to overcome the current difficulties and restore international financial stability," he said in a statement at the annual meeting of the International Monetary Fund and World Bank.     He urged the two Bretton Woods Institutions to "fulfill their mandates to maintain global monetary and financial stability and facilitate sustainable, balanced growth."     The fund should give the surveillance priority to the ongoing financial turmoil, deepen its analysis, learn lessons, and listen to the opinions of member countries, said the senior official of China's central bank.     "From the medium- and long-term perspective, the fund must address the inherent deficiencies of the current international monetary system and foster an international financial architecture adaptive to the evolving global economy and financial markets," he noted.     As the largest multilateral development institution, the World Bank should re-assess the challenges confronting the developing countries -- soaring food and fuel prices, higher financing costs, deteriorating balance of payments positions, and mounting inflationary pressures, said Yi Gang.     "With the advantages of its financing capacity and expertise, the World Bank should urge the developed countries to shoulder their due responsibilities in stabilizing the global economy through targeted measures, carried out in an even-handed and professional fashion," he said.     Yi Gang also stressed the fundamentals of the Chinese economy are "solid and resilient."     "We are confident we can weather the financial turmoil," he said. "With the global economic slowdown, it is important that China maintains its stable and relatively rapid growth." 

BEIJING, Sept. 4 (Xinhua) -- Chinese awareness of the welfare of its 83 million disabled population is rising as its capital prepares to host the Paralympics, which starts in two days.     During its seven years of preparation for the Olympics and Paralympics, Beijing took account of the needs of disabled people when updating public facilities.     Each of the city's 123 subway stations now has at least one entrance equipped with a wheelchair lift, according to the subwaycompany. Photo taken on Aug. 27, 2008 shows the barrier-free sign at a subway station in Beijing, capital of China. Numbers of barrier-free signs have appeared recently at Beijing subway stations as the Beijing Paralympic Games approachesBeijingers are seeing more public buses with lowered doors, toilets with assistive devices and warning systems on the streets.     Parks, tourist sites, including some heritage sites like the Forbidden City, and museums have modified their facilities to be accessible for the disabled. All Chinese airports have adopted accessible designs.     Banks and post offices in some cities also provide service in sign language.     "We plan to help all households with disabled members in Beijing modify their residences before the end of 2010," said DingXiangyang, the city's vice mayor. So far, the city has extending funding for about 5,000 such households to install assistive facilities. Photo taken on Aug. 27, 2008 shows the barrier-free sign on the ground at a subway station in Beijing, capital of China. Numbers of barrier-free signs have appeared recently at Beijing subway stations as the Beijing Paralympic Games approaches"I am very happy to see many disabled but smart students are now able to get a higher education," said Li Caimao, recalling his struggle to go to college 18 years ago.     Li, now an official of the Beijing government department for disabled people's affairs, had to take the annual college entry exam three times before he found a school willing to enroll him.     "At that time, many departments in colleges refused disabled students. Now it is different. Once you pass the exam, you are in," he said.     For those receiving compulsory pre-college education, the country has waived tuition and incidental expenses and given them free textbooks.     "Through these steps, many disabled children have been able to go to school and their families bore fewer financial burdens," said Ma Wanyu, a hearing disabled teacher in Jixi, a city in northeastern Heilongjiang Province.     Better education and preferential policies helped many disabledpeople find jobs and develop careers.     Radio host Yang Qingfeng, suffering from low vision, set up a radio program studio. Most of his colleagues are also vision disabled. They produce audio programs to help the blind in daily life, such as how to cook and travel.     "Being vision-disabled ourselves, we know what our audiences want to hear. For instance, we will tell them how to go somewhere at a very detailed level, such as pressing which button in the elevator," he said.     In the Paralympics, China will send its largest delegation since 1984, with 547 members including 332 athletes.     Many disabled people will serve as volunteers. In the Olympic core area, 12 wheelchair users will guide tourists and audience members. In the Paralympic Village, 10 blind massage specialists will serve athletes from across the world. At the opening and closing ceremonies, disabled artists will give the global audience wonderful performances. Photo taken on Sept. 2, 2008 shows a Braille menu at a restaurant in Beijing, capital of China. Many service sectors such as restaurants and shopping malls have established obstacle-free facilities as the Beijing 2008 Paralympic Games approaches

BEIJING, Oct. 12 (Xinhua) -- China's ruling Communist Party said on Sunday that it would strive to double the per-capita disposable income of rural residents by 2020 from the 2008 level.     The goal was part of the decision made at the close of the third Plenary Session of the 17th Communist Party of China (CPC) Central Committee, which focused on issues concerning rural reform and development. Hu Jintao, general secretary of the CPC Central Committee, delivered a work report at the four-day plenum, held from Oct. 9 to 12 in Beijing.     The government would also boost consumption of rural residents by a big margin and basically eliminate absolute poverty in rural areas by 2020, according to a communique issued on the plenum's conclusion. Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, delivers an important speech at the third Plenary Session of the 17th CPC Central Committee in Beijing, Oct. 12, 2008. The third Plenary Session of the 17th CPC Central Committee was held from Oct. 9 to 12 in Beijing.     Per-capita disposable income was recorded at 4,140 yuan (605.6 U.S. dollars) in rural areas in 2007, a year-on-year gain of 9.5 percent in real terms. A rise of at least 6 percent was expected for 2008, according to a government report in March.     The rural population mired in absolute poverty was reduced to 15 million last year, down from 250 million in 1978.     Targets set at the plenum for rural reform and development till 2020 also included "improving the system of economic growth in the countryside and establishing a mechanism to integrate urban and rural areas in terms of economic growth and social development".     "The modernization of agriculture will advance with major progress, and agricultural productivity will be elevated to a higher level, with national grain security and product supplies guaranteed," said the communique.     The Central Committee also agreed a goal to improve grassroots democracy in the countryside, and vowed to guarantee equal public services in rural areas, such as education opportunities for all rural residents and better medical services and subsistence support.     The communique said there were several "musts" which should be followed:     -- strengthening the position of agriculture as the foundation of the national economy and putting the food security of 1.3 billion people as the top priority.     -- protecting farmers' rights and ensuring the aim and outcome of all the work of the Party and the state is to realize, safeguard and expand the fundamental interests of the majority of the farmers.     -- unremittingly liberating and developing the productive forces in rural areas and make reform and innovation as the fundamental driving force for the development of the rural regions.     -- taking into overall consideration the development of both urban and rural regions.     -- upholding the Party's role as the leadership in the development of the rural areas.     The communique outlined the plan for advancing rural reform and development in the next few years, giving priority to reform and innovation, developing modern agriculture, boosting the capacity of agricultural production, and developing public utilities in rural regions.     About the land policy, the communique said it was necessary to maintain and improve the basic system for rural operations and improve the strict management system of land in rural regions.     It was also necessary to set up a modern financial system in rural areas and establish a system which would help integrate economic and social development in urban and rural areas.     In addition, the communique said it was imperative to enhance standardization of agricultural products and strengthen work on improving quality of agricultural products.     "We should strictly conduct supervision in the entire production process and carry out supervisory duty to ensure quality of the products. We should never allow unqualified products to enter the market," it said.     A total of 202 full members and 166 alternate members of the Committee attended the plenum, according to the communique.     Members of standing committee of the CPC central committee for discipline inspection and top officials of the relevant departments were also present at the session, the communique said.     The plenum had also gathered delegates to the 17th CPC National Congress who had been working on agriculture and rural development at grassroots levels, and experts and scholars on agriculture, rural areas and farmers.     This meeting was significant because it was the third Plenary Session of the 11th CPC Central Committee 30 years ago that pushed the country on to the road of its historic reform and opening-up drive.

HONG KONG, July 7 (Xinhua) -- Chinese Vice President Xi Jinping delivered a keynote speech at a welcoming banquet hosted by the Hong Kong Special Administrative Region (HKSAR) government here Monday evening, elaborating his understanding of and expectations to the HKSAR.     Xi started his toast at the dinner by extending warm greetings and best wishes to Hong Kong people on behalf of the central government and President Hu Jintao. Chinese Vice President Xi Jinping delivers a keynote speech at a welcoming banquet on July 7, 2008. "Over the past 11 years since Hong Kong's return, what you have achieved is truly commendable," Xi told about 400 guests attending the dinner in his televised speech at the Shangri-La Hotel, "we are here to feel for ourselves the profound changes that have taken place in Hong Kong since its return."     Xi expressed his thanks to the HKSAR government and Hong Kong compatriots for their strong support to the Chinese mainland in the rescue and relief efforts in earthquake-hit southwest China, as well as their contributions to the preparations of the Beijing 2008 Olympic and Paralympic Games.     "We in the Chinese mainland are deeply touched by the profound friendship of our Hong Kong compatriots with whom we share the strongest blood ties," said Xi, who takes charge of the Hong Kong and Macao affairs and a top-level leading group for the preparations of the Beijing Olympics and Paralymics.     The vice president said he was confident that the HKSAR government and Hong Kong compatriots will host warm, splendid and successful equestrian events during the Olympic and Paralympic Games.     As one of the six co-host cities, Hong Kong will stage the Beijing Olympics equestrian events in August.     Xi said the HKSAR government has led the preparatory work with great sense of commitment and the Equestrian Committee (Hong Kong)and the Sports Federation and Olympic Committee of Hong Kong have been working in close collaboration with all sectors of Hong Kong.     The whole country and the whole world are deeply impressed by Hong Kong people's enthusiasm, their level of participation and their passion for the Olympics, he noted.     Xi announced that the Ministry of Commerce and the HKSAR government will soon sign a document on the arrangement to facilitate entry of Hong Kong service providers to the Chinese mainland, particularly Guangdong Province.     "In future, the central government will continue to give strong support to all initiatives and endeavors aimed at developing the economy and improving people's lives in Hong Kong," Xi stressed.     With the strong support of the motherland and the united efforts of the HKSAR government and Hong Kong people of all sectors, Hong Kong will overcome all risks, difficulties and challenges on its way of development, he added.     Xi said Hong Kong now enjoys social stability, economic growth and higher living standard, and its future is even more promising.     "What has happened has proved and will continue to show that the policy of 'one country, two systems" is the right choice for Hong Kong and has strong vitality," he said, adding, "our Hong Kong compatriots will administer Hong Kong well and bring greater prosperity to the people."     In the welcoming banquet in honor of the vice president, Chief Executive of HKSAR Donald Tsang pledged that Hong Kong will do its best to make the equestrian events a great success to demonstrate that Hong Kong people are worthy of the trust bestowed upon them by the nation.     Xi arrived in Hong Kong on Sunday morning for a three-day inspection tour of the special administrative region.

BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday.     Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent.     "Currently the impact on domestic financial institutions is still limited," he said.     The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars).     The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year.     However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars.     "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report.     Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner."     Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis.     China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18.     The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001.     Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market.     However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence.     Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt.     From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics.     In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation.     Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation.     Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas.     Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.