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MANDALAY, March 28 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), visited China-funded projects in Myanmar and other industrial and educational facilities amidst his on-going visit. Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, visited the Myanmar's 3G core network, which was built by China's ZTE Corporation, one of China's leading telecom equipment producers. After listening to reports from both sides, Li said that information and communication industry played an important role in modern society. "I am glad to see the results you have already achieved and hope you can enhance strategic cooperation in the telecom field." He also urged ZTE and other Chinese companies in Myanmar to transfer technologies to their partners, train local technical contingent for better serving the clients and the local society. On Friday afternoon, Li visited Hlaing Thar Yar city of industry and listened to the briefing of local officials. He also visited a plastic pipe plant and a factory of traditional Myanmar medicines. Early on Saturday, Li flew from Yangon to Mandalay, the country's second largest city, and visited Mandalay industrial training center. The center was set up with a grant of 30 million RMB (4.39million U.S. dollar) from the Chinese government. It was designed to train local technicians for automotive production and maintenance. Myanmar is the second-leg of Li's four-nation tour which will also take him to the Republic of Korea and Japan. He has already visited Australia
BEIJING, April 11 (Xinhua) -- Credit extended by China's banks in the first quarter hit 4.58 trillion yuan (670 billion U.S. dollars), the People's Bank of China (PBOC) said Saturday. In March alone, new yuan-denominated loans increased 1.89 trillion yuan. It was the third straight month that new loans exceeded 1 trillion yuan. "It is not beyond market expectations. The increase was boosted by the 4-trillion-yuan stimulus plan and showed the possibility of a faster economic recovery in China compared with other countries," said Zhang Qizuo, vice director of China International Economy Society. Premier Wen Jiabao said on March 5 at the opening of the annual session of the National People's Congress, China's legislature, that new yuan-denominated loans this year were expected to reach 5 trillion yuan. Historical data show the first-quarter bank credit usually accounts for more than 60 percent of the year's total. "There is a time lag between the credit increase and actual use of capital, but the big increase will surely lay a solid foundation for the recovery of the real economy," said Zhang. In the first quarter, the central bank withdrew 47.3 billion yuan from circulation, 78.5 billion yuan more than the same period of last year. "The increase in currency withdrawal from circulation showed the central bank was carefully watching the credit growth," said Yuan Gangming, an economist with Tsinghua University. Zhuang Jian, an economist at the Asian Development Bank, said the regulators should pay attention to the quality of new loans and prevent bad loans. By the end of February, non-performing loans by Chinese banks totaled 1.53 trillion yuan, 17.5 billion yuan less than the start of the year. The structure of credit growth was also improving. The proportion of bill financing fell to about 22 percent in March from 47 percent in February, though still much higher than the average of 5 percent. "The decline in bill financing is a good sign. It means company activities are increasing and the credit's impact on the economy is strengthening," said Zhuang. Through March, the M2 figure -- a broad measure of money supply,which covers cash in circulation and all deposits -- grew 25.5 percent from a year earlier to 53.06 trillion yuan. The narrow measure of money supply, M1 (cash in circulation pluscorporate current deposits), was up 17.04 percent year on year to 17.65 trillion yuan. "The fast rebound of M2 indicates China's liquidity is abundant. This is very important to the economic recovery. The sharp rise of M1 shows companies are increasing spending on investment and management." said Zhang Bin, an economist with Chinese Academy of Social Sciences.

BEIJING, April 13 (Xinhua) -- Chinese shares rose 2.84 percent Monday, advancing for a third consecutive day to a nearly eight-month high, on hopes that the economy had outperformed expectations in the first quarter. Premier Wen Jiabao told reporters in Thailand Saturday that the economy showed signs of better-than-expected changes during the first quarter as a result of the economic stimulus package. The National Bureau of Statistics is scheduled to release first-quarter growth data Thursday, which are expected to demonstrate a recovery in the world's fastest-growing economy. An investor is inside a securities firm in Chengdu, southwest China's Sichuan Province April 13, 2009 Data already announced have been positive. The central bank said over the weekend that new loans increased 1.89 trillion yuan (about 278 billion U.S. dollars) in March, the third straight month that new loans exceeded 1 trillion yuan. Economists said the March figure indicated that China's liquidity was abundant, which was crucial to an economic recovery. Wen said industrial output rose 8.3 percent in March, up from a record low of 3.8 percent in the first two months of the year. The benchmark Shanghai Composite Index reacted to the positive news and closed at 2,513.7 points, up 69.48 points. The Shenzhen Component Index was up 2.08 percent, or 194.36 points, to 9539.8. Gains outnumbered losses by 616 to 205 in Shanghai and 532 to 173 in Shenzhen. Combined turnover rose to 280.46 billion yuan from 239.98 billion yuan the previous trading day. Coal producers led gains Monday on speculation that coal prices might be raised. The country's largest coal producer, China Shenhua Energy, and six other producers, surged by the daily limit of 10 percent. Steel stocks gained on hopes of more demand as industrial output picked up. Baoshan Iron & Steel, the nation's top steel maker, rose 4 percent to 5.97 yuan. PetroChina went up 4 percent to 11.94 yuan and Sinopec rose 5.34 percent to 9.47 yuan on news that the country might soon announce details on a stimulus package for the petrochemical sector. Shipping lines and other cargo carriers gained broadly on anticipation of an economic recovery. China Cosco rose by the daily limit of 10 percent to 12.87 yuan. China Shipping Development climbed 10 percent to 13.08 yuan. China Southern Airlines, one of the nation's three major carriers, rose 6.22 percent to 6.15 yuan. Securities analysts expressed optimism about continued gains in the near term. Shanghai-based Shiji Investment said in a report that heavyweights had showed signs of robust performance and the market may rise to new highs. Analysts at Huaxun, an on-line financial information service, said the market would find support at about 2,450 to 2,470 on buoyant confidence, with investors anticipating a recovery.
BEIJING, March 22 (Xinhua) -- Chinese Vice Premier Li Keqiang said here Sunday China is confident and capable of achieving its 2009 economic targets and will strengthen cooperation with the international community to fight the global financial crisis. Despite the financial crisis impact that increased difficulties for economic operations, "the fundamentals of Chinese economy and its good outlook in the long term have not changed," said Li at the opening of the China Development Forum 2009. China has set an 8-percent target for annual economic expansion this year after diminishing foreign orders dented exports and slowed growth to a seven-year low of 9 percent year-on-year in 2008. To boost domestic consumption and growth, the government will exert itself to tackle issues of immediate concern to ordinary Chinese citizens such as employment, education, health care, housing and environmental protection, said Li. Chinese Vice Premier Li Keqiang addresses the opening ceremony of the China Development Forum 2009 in Beijing, capital of China, March 22, 2009 The country will speed up the building of a social security system covering both urban and rural residents and gradually perfect the social safety net that guarantees people's basic livelihood, he said. "This helps adjust income distribution and raise people's spending capabilities." In addition, Li pledged stronger moves in reforming pricing, taxation and financial mechanisms to remove "institutional barriers" on the way of development. Reform plans must be well-implemented, said Li. They included an 850 billion-yuan (124 billion U.S. dollars) medical reform plan and a comprehensive value-added tax (VAT) reform to cut enterprise and individual burdens by approximately 500 billion yuan this year. Li also promised to maintain a stable scale of foreign trade and use of foreign capital, saying China will further open up and make use of markets and resources both at home and abroad. China's foreign direct investment fell for the fifth consecutive month in February to 5.83 billion U.S. dollars, down 15.81 percent year-on-year. Its foreign trade was 124.95 billion U.S. dollars last month, down 24.9 percent year-on-year. "While managing its own affairs well, China is willing to join hands with other countries and play an active role in international cooperation against the financial crisis," said Li. The continuous growth of China's economy not only concerns the wellbeing of 1.3 billion Chinese but is also a great contribution to the world economy, he told the forum. He called on all countries to take actions together to promote future growth of the world economy, saying the crisis should bring about "profound thinking about the world economic development and the human kind's future destiny". People of insight in all countries should dig the deep roots of the global financial crisis and explore effective ways of preventing the crisis from spreading and avoiding a replay of such crises, said Li. The China Development Forum 2009 runs in Beijing from Saturday to Monday with the theme of China's Development and Reform in the Global Financial Crisis.
BEIJING, Feb. 4 (Xinhua) -- Chinese and overseas reporters are invited to cover the upcoming annual sessions of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC). The 2nd session of the 11th National People's Congress and the 2nd session of the 11th National Committee of the CPPCC are to be convened on March 5 and March 3 in Beijing respectively, announced the general offices of the NPC Standing Committee and the CPPCC National Committee. A media center will be opened on Feb. 26 for the two meetings at the Media Center Hotel to serve the needs of journalists, the offices said. Chinese and resident foreign reporters should submit their applications for reporting passes before March 5 to the media center while foreign reporters temporarily in China for the "two sessions" should apply at Chinese embassies or visa organizations authorized by the Ministry of Foreign Affairs. The Hong Kong and Macao offices of the China Travel Services are authorized to handle applications from Taiwan reporters. Reporters from Hong Kong and Macao should apply at the central government's liaison offices in the two special administrative regions. Two websites were opened Wednesday to help domestic and overseas journalists report the "two sessions" as the country's top-level political events are drawing near.
来源:资阳报