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SHANGHAI, Nov. 16 (Xinhua) -- Visiting United States President Barack Obama said on Monday he would discuss economic recovery, climate change and stopping the spread of nuclear weapons in his talks with Chinese President Hu Jintao. He made the remarks at the Shanghai Science and Technology Museum during his first trip to China since taking office in January. U.S. President Barack Obama delivers a speech at a dialogue with Chinese youth at the Shanghai Science and Technology Museum during his four-day state visit to China, Nov. 16, 2009. Other key issues he would talk about with Hu included the development of clean energy and the promotion of peace and security in Asia, he said during a dialogue with Chinese youths.
BEIJING, Oct. 22 (Xinhua) -- Qingdao Haier Co., Ltd., a leading Chinese household electric appliance producer, announced Thursday evening that its net profit in the third quarter rose 48.88 percent year on year to 300.7 million yuan (44.03 million U.S. dollars). Its net profit in the first three quarters increased 28.7 percent from a year earlier to 966.4 million yuan, the firm said in a statement to the Shanghai Stock Exchange. The eastern Shandong Province-based company attributed the net profit hike to reduced inventory and improved assets quality. Equities of the Shanghai-listed firm added 1.28 percent to 18.17 yuan per share Thursday.
BEIJING, Dec. 6 (Xinhua) -- China will, without any doubt, be able to achieve the 8 percent growth in gross domestic product (GDP) this year, a senior Chinese economist said Sunday. Yao Jingyuan, chief economist with the National Bureau of Statistics, made the remarks at a fortune forum in Beijing. However he warned that the Chinese economy will still face two major problems next year: slumping overseas market demand and weak driving force on domestic market. Chinese economy rose 7.7 percent in the first three quarters, driven mainly by investment and consumption, but brought down by exports, Yao said. He stressed more efforts should be made on structural adjustment to shift dependence on the industrial growth to the comprehensive development of the agricultural, industrial and service sectors. Yao highlighted the importance to raise people's incomes, add investment on livelihood projects and give full play to the role of consumption to boost economy. Meanwhile, China should turn its economic growth dependence from resources-intensive consumption to technology renovation, Yao said.
BEIJING, Nov. 21 (Xinhua) -- China's premium income hit 936.09 billion yuan (137.1 billion U.S. dollars) in the first 10 months, according to China Insurance Regulatory Commission. The figure represented an increase of 78 billon yuan, or 9.09 percent, over that in the first nine months. During January to October period, premium of property and casualty insurance was 243.18 billion yuan, and 692.9 billion yuan, respectively. Total asset of the country's insurance sector stood at 3.83 trillion yuan by the end of October.
BEIJING, Dec. 1 -- Premier Wen Jiabao Monday rejected "unfair" calls from European countries for faster reform of China's currency policies, despite lobbying from EU financial chiefs at the weekend."Some countries demand the yuan's appreciation while practicing various trade protectionism against China. It's unfair and actually limits China's development," Wen told reporters in Nanjing, Jiangsu province. European Commission President Jose Manuel Barroso and Swedish Prime Minister Fredrik Reinfeldt, whose country holds the rotating EU presidency, were also at the press conference. Chinese Premier Wen Jiabao delivers a speech at the closing ceremony of the fifth China-EU Business Summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009. Wen's unusually direct response followed a one-and-a-half hour summit between China and the EU, which has 27 member-nations. The summit ended with five agreements mainly on energy and environmental cooperation. But it also ended without a breakthrough on issues that have brought stalemate between the sides, such as trade disputes and arms embargoes. Wen said China will keep the yuan basically stable and carry out currency reform at its own, gradual pace. A stable yuan is not only good for the Chinese economy but the world, Wen said. The meeting took place against the backdrop of concern about the rising euro and the possibility it might derail the recovery in Europe, which imports heavily from China. The yuan began gaining against major currencies after a set of exchange rate reforms were introduced in July 2005. After rising nearly 20 percent against the US dollar, it hovered around 6.83 to the US dollar for about a year. In the past month or so, the euro has risen to a 15-month high. Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker joined other European leaders in lobbying China's senior officials. The Chinese officials explained that it was difficult to make a case for "immediate renminbi appreciation" in a country where 40 million people live on less than 1 U.S. dollar a day. Chinese Premier Wen Jiabao (C), European Commission President Jose Manuel Barroso (R) and Swedish Prime Minister Fredrik Reinfeldt (L), whose country currently holds the rotating EU presidency, meet with the press after the 12th China-EU summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009. The failure of the EU appeal was expected because Europe was only thinking about itself, claimed Wu Baiyi, a European studies expert at the Chinese Academy of Social Sciences. Zhao Junjie, Wu's colleague, said that while China is not able to quickly change its currency policy, Beijing had made efforts in the past year to fill the EU trade gap. "Actually, some of the goods bought by the dozen purchasing groups that China sent to the EU during the past year were bought only for the sake of the EU," he said. "But the EU still wants more." Glenn Maguire, chief Asia-Pacific economist at Societe Generale SA in Hong Kong, told Bloomberg: "China will only adjust on its own terms and in its own time. It's decided that now is not the time to do that." Despite lingering disputes, including trade protectionism and the EU's ban on the transfer of technology to China, Wen Monday raised expectations for improved relations with Beijing's largest trading partner. "China and Europe walking together hand-in-hand will make the steps of humankind more steady, and that best illustrates the strategic significance of our ties," said Wen. Barroso and other EU leaders Monday also applauded fresh Chinese commitments on countering climate change. Stanley Crossick, founding chairman of the European Policy Centre, said Europe will need to commit to lifting its arms embargo against China. "Beijing is right that listing China among a handful of embargoed pariah states is totally inconsistent with the treatment of a strategic partner," he said. Crossick suggested that EU officials be trained in contemporary China and taught Mandarin. Wen opened the door to better understanding Monday, announcing that 2011 will be the year for China-EU youth communication and the establishment of other youth and cultural exchange mechanisms.