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BEIJING, March 21 (Xinhuanet) -- Against backdrop of world's financial crisis, China will play a vital role in world's economic recovery, said Murilo Portugal, Deputy Managing Director of the International Monetary Fund (IMF) on Saturday in Beijing. I think China's role is very important. Its fast growth has already made important contribution to the world economy, and it will continue playing that vital role in world's economic recovery, Portugal said on the first day of the three-day China Economic Forum 2009.     China's financial policy has long been very self-regulated and prudent. Besides, China has large quantity of foreign exchange reserves and debts equaling to 20% of its GDP. Based on that, China can make great contribution to the world economic recovery, Portugal added. Murilo Portugal, Deputy Managing Director of the International Monetary Fund (IMF) delivers speech at the academic summit of China's Development and Reform in the Global Financial Crisis of China Development Forum 2009 in Beijing, capital of China, Mar. 21, 2009. Over fifty leaders of multinational corporations, senior officials of international organizations and well-known scholars are invited to attend the 3-day forum this year which focus on the topic of China's development and reform in the global financial crisis    He went on to say that the economic stimulus plan that China unveiled last November, stipulating that the investment from 2008 to 2010 will equal 13% of its GDP, is undeniably a huge contribution to the world growth.     Portugal said that he is confident that China will achieve high positive growth this year though the growth rate will lower than last year.     China has announced a 4 trillion-yuan (585 billion U.S. dollars) two-year economic stimulus package to boost growth and domestic demand, 1.18 trillion yuan of which will be funded by the central government.     The stimulus package plan has four major components, including large-scale government spending, industrial restructuring and rejuvenation, scientific research and social safety net.     Economic recovery depends on effective measures     The IMF predicted that world economic recession will further deepen in 2009 with world's per capita GDP probably dropping 2% or even lower, and World's total GDP also slumping and other related indexes further going down, Portugal said in his speech at the forum.     He said that the economic recovery, to a large extent, depends on whether the governments of different countries can take effective measures to reform their financial institutions and systems.     He added that if the financial and monetary conditions were improved, then the world would jump out of the current crisis at an earlier date. If the signs of recovery could appear in the second half of this year or in this summer, then the world could gradually walk out of this financial crisis.     In another report, the IMF said on Thursday that the world economy is expected to contract in 2009 for the first time in 60 years as advanced economies will shrink sharply.     Global activity will contract by 0.5 to 1 percent on an annual average basis, the first such fall in 60 years, the IMF said in an analysis provided to the Group of 20 (G20) industrialized and emerging market economies.     Advanced economies will suffer deep recessions in 2009, while the United States will contract 2.6 percent, the assessment said.     Capital injection into IMF at G20     Responding to the question of capital injection into the IMF at the upcoming G20 summit in London, Portugal said the IMF had enough resources to manage the problems the world economy is facing now.     From the start of economic crisis, our credit capability is 250 billion U.S. dollars, among which we have used 50 billion dollars, so we still have 200 billion dollars left, said Portugal, adding that we hope to prepare for the worst to come, if more countries need our financial support. So far, we have got some commitments on capital injection from some countries.     He said that Japan is the first country to make such commitment. The IMF has signed the agreement with Japan, which has pledged to add 100 billion U.S. dollars to IMF's funds. We can lend the money out, said Portugal.     Ahead of the G20 summit, the United States is calling for trebling of the IMF's resources to help countries facing financial and economic problems.     In preparation for the summit, finance ministers and central bankers from the G20 agreed last weekend to boost the IMF's funding capacity, but gave no figures.

BEIJING, Feb. 12 (Xinhua) -- A section of the local prosecutor's office that deals with dereliction of duty is involved in the investigation into Monday night's massive fire in downtown Beijing, the Supreme People's Procuratorate said here Thursday.     The fire led to one death and seven injuries.     The investigation involves two offices, the Supreme Procuratorate said: the Beijing People's Procuratorate and the district procuratorate of Chaoyang, the section of Beijing where the blaze at the China Central Television (CCTV) complex occurred.     The Supreme People's Procuratorate declined to elaborate on what the investigations covered.     China's procuratorate is the equivalent of a prosecutor's or attorney general's office, handling a range of civilian crimes, but it also has a special division responsible for crimes involving dereliction of official duty, such as bribery and corruption, that the police don't handle.     The fire, which engulfed the building that houses some CCTV facilities as well as the unopened Mandarin Oriental Hotel near the futuristic tower that will house the state broadcaster, was caused by a powerful fireworks show put on by CCTV.     One firefighter died from breathing toxic fumes and seven people were hospitalized. The huge blaze also caused widespread traffic congestion in eastern Beijing and led to the evacuation of hundreds of residents.     The police have detained 12 people so far, including a man in charge of the new site's construction, three CCTV workers and eight people CCTV hired from a fireworks company in central Hunan Province to stage the show.     The fireworks they used were dangerous and needed approval before being allowed in downtown Beijing, a Beijing government spokesman has said. He said that CCTV did not get approval and further alleged that its workers ignored police warnings that night.     Monday was the Lantern Festival, which officially ends the Lunar New Year, and it's traditional to light fireworks on that night.

BEIJING, March 16 (Xinhua) -- China's Ministry of Railways (MOR) signed a deal with state-owned vehicle producer CNR Corporation Limited (CNR) here Monday to purchase 100 high-speed CRH trains for 39.2 billion yuan (about 5.74 billion U.S. dollars).     CRH, an abbreviation for China Railway High-speed, refers to trains with speeds above 200 km per hour. With a designed speed of 350km/h, the new CRH trains will travel between Beijing and Shanghai in 2011, when the construction of the 1318-km, high-speed railway between the capital city and the country's financial hub is expected to complete.     "The contract does not include any foreign parties, as Chinese companies possess core technologies for the high-speed trains and have complete intellectual rights over the 350km/h CRH type," said Zhang Shuguang, director of the transport department under the MOR.     The MOR had introduced railway technologies from Japan, France, Germany and Canada in the development and production of the 200km/h CRH trains already in operation at present.     According to the agreement between the ministry and CNR, all 100 trains will be self-developed and manufactured under the CNR group. Tangshan Railway Vehicle Co. and Changchun Railway Vehicle Co., two CNR subsidiaries, will be in charge of the production of 60 sets and 40 sets, respectively.     Zhang said China would see "large purchases" of CRH trains in the coming years upon the completion of more passenger railway lines across the country.     The MOR has planned to spend 500 billion yuan to buy trains over the next four years.     "The purchases will provide strong support for related industries," Zhang said.     The manufacturing of a CRH train requires nearly 100,000 parts from a wide range of industries such as mechanics, metallurgy, electrics, chemical, and materials.     "We will buy more CRH trains this year as a move to help stimulate domestic demand," said Zhang without giving further details on the purchasing plan.

XI'AN, March 17 (Xinhua) -- Chinese Vice Premier Li Keqiang urged local governments Tuesday to accelerate industrial restructuring and development in western regions and boost domestic consumption to offset the impact of the global downturn.     Li made the remarks during an inspection tour of the country's northwestern Shaanxi Province, which ran from Sunday to Tuesday. Chinese Vice Premier Li Keqiang (L) talks with a salesman about the process of bringing home appliances to the countryside in a market of Yan'an, a city of northwest China's Shaanxi Province, on March 17, 2009. Li Keqiang made an inspection of Shaanxi Province recentlyHe urged local authorities to take measures to achieve smooth, relatively rapid economic growth this year. He urged the Chinese people to be confident in coping with uncertain times.     "Equipment manufacturing is a sector of strategic importance. Local governments should do more to implement industry stimulus plans, promote innovation and build up large domestic companies," he said. Chinese Vice Premier Li Keqiang (R, Front) shakes hands with a veteran in a beadhouse in Yan'an, a city of northwest China's Shaanxi Province, on March 17, 2009. Li urged companies to develop new technology, new products and foster new industries to become more competitive.     He also called on local governments to sincerely apply policies aimed at helping farmers buy household appliances to stimulate consumption, as potential demand in western and rural areas was huge.     As of Feb. 1, China's more than 900 million farmers became eligible for subsidies equal to 13 percent of the price of designated home appliances. The subsidy was originally offered in a pilot program in three provinces in 2007. Chinese Vice Premier Li Keqiang (2nd, R) inspects in a workshop of AVIC Xi'An Aircraft Industry (Group) Company in Xi'an, capital of northwest China's Shaanxi Province, on March 17, 2009

BEIJING, March 7 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the current international financial crisis, despite its severe impact on China's economy, also means an opportunity for the country.     China should take the opportunity to change its development pattern and realize structural adjustment so as to maintain a steady and relatively fast economic growth, Hu said when joining a panel discussion with deputies of the National People's Congress (NPC) from south China's Guangdong Province.     "Challenge and opportunity always come together. Under certain conditions, one could be transformed into the other," Hu said. Chinese President Hu Jintao (front, 2nd R) talks to female deputies during the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China’s Guangdong Province as International Women's Day is coming, in Beijing, capital of China, March 7, 2009    Hu said China should make full use of its advantages to break the bottlenecks of development. He also called for efforts to promptly and creatively implement the policies and plans of the central government to create conditions for solid and rapid development in the future. Wu Bangguo (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the Standing Committee of the National People's Congress (NPC), attends the panel discussion of deputies to the Second Session of the 11th NPC from east China's Shandong Province, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from Shandong Province, top legislator Wu Bangguo said to maintain economic growth is China's top priority now, and efforts should be made to boost domestic consumption so as to secure this year's economic development targets.     In face of impacts of global financial crisis, China should seek both a temporary solution and a permanent cure, and make efforts to upgrade its industry and improve competitiveness of Chinese enterprises, said Wu, chairman of the NPC Standing Committee. Chinese Premier Wen Jiabao (2nd R) attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from central China's Hubei Province, in Beijing, capital of China, March 7, 2009Premier Wen Jiabao said maintaining steady and relatively fast economic development amid the global financial crisis should be the focus of local governments.     The task can affect the overall development of the national economy and society, the people's interests, and the long-term development of the country's modernization drive, said Wen when joining NPC deputies from the central Hubei Province.     Governments at all levels should incorporate improving people's well-being into the efforts on maintaining economic growth to benefit the people and promote harmony and stability of society, Wen said.     He also urged local governments to take the opportunity to enhance their capabilities in dealing with complicated situations, keeping close contact with the public and implementing policies.     Governments should also improve their credibility among the people, Wen said. Jia Qinglin (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with members of the 11th National Committee of the CPPCC from the Communist Youth League of China, the All-China Youth Federation, the All-China Federation of Trade Unions and All-China Women's Federation, in Beijing, capital of China, March 7, 2009Top political advisor Jia Qinglin attended a joint panel discussion with political advisors from circles of trade unions, the youth league, and women's federations.     These social groups should "take initiative to resolve disputes, address depression of the public, and safeguard the rights of the employees, young people and women," he said.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), also called on them to help those with difficulties to find jobs. Li Changchun (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Ningxia Hui Autonomous Region, in Beijing, capital of China, March 7, 2009.Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said publicity work should serve the overall objectives of ensuring economic growth, people's well-being and social stability.     During the discussion with lawmakers from northwest Ningxia Hui Autonomous Region, he called on media and cultural workers to provide "spiritual" support for economic growth amid global downturn. Chinese Vice President Xi Jinping (front L), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China's Hong Kong Special Administrative Region, in Beijing, capital of China, March 7, 2009Vice President Xi Jinping joined panel discussions with lawmakers from Hong Kong and Macao respectively.     Xi said the governments of both Hong Kong and Macao special administrative regions (SAR) have taken prompt and effective measures to counter the impact of global financial crisis.     He said lawmakers from Hong Kong and Macao have played a positive role in the country's political affairs since China resumed the exercise of sovereignty over the two regions in 1997 and 1999 respectively.     Xi called on the lawmakers to fully exercise their functions and powers with focus on the country's measures of maintaining economic growth and social stability. Li Keqiang (front, 2nd R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Xinjiang Uygur Autonomous Region, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from the northwestern Xinjiang Uygur Autonomous Region, Vice Premier Li Keqiang said China can enjoy large room for economic manoeuvre due to its vast territory and the high mutual complementarity in economy between different regions.     "We should turn challenges into opportunities, boost the development of the western region, make full use of advantages (of different regions), tap the market, speed up industrial restructuring, and cultivate new economic growth areas so as to keep a steady and relatively fast economic growth," Li said.     He said Xinjiang enjoys a particularly important strategic status for the country's development and stability. Efforts should be made to secure Xinjiang's stable and prosperous development, enrich people and safeguard the frontiers and strengthen national unity and social stability, he said. He Guoqiang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from north China's Hebei Province, in Beijing, capital of China, March 7, 2009.He Guoqiang, secretary of the Communist Party of China (CPC) Central Commission for Discipline Inspection, called on officials to improve their work style in face of economic difficulties.     "We must enhance education on the officials, improve existing regulations, and step up supervision to ensure steady and relatively fast economic development," He, also member of the CPC Central Committee's Political Bureau Standing Committee, told NPC deputies from northern Hebei Province. Zhou Yongkang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from Tianjin Municipality, in Beijing, capital of China, March 7, 2009. When joining lawmakers from the northern Tianjin Municipality, Zhou Yongkang, member of the Standing Committee of the CPC Central Committee's Political Bureau, underlined the adherence to scientific decision-making approach.     He also urged officials to focus their efforts on solving issues concerning people's well-being to sustain stability and promote social harmony.

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