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BEIJING, Nov. 10 (Xinhua) -- The Chinese government will inject more funds for investment and improve investment structures to better cope with adverse global economic conditions, the State Council (Cabinet) decided at an executive meeting presided over by Premier Wen Jiabao on Monday. To achieve "steady and relative fast" economic growth and prevent "economic ups and downs" amid global and domestic economic challenges was on top of the country's agenda, said Wen. The government on Sunday announced it would launch a stimulus package estimated at 4 trillion yuan (570 billion U.S. dollars) to be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transport, the environment and technological innovation. "The country should strengthen management of large-scale investment projects, conduct feasibility studies in an earnest manner and increase investment efficiencies and profits," said a statement from the meeting, in which provincial leaders and Cabinet ministers participated. Wen said the stimulus package was crucial to tiding over the difficulties and maintaining long-term economic growth momentum. He urged local governments to be "quick" and "effective" in carrying out these measures with "large-scale" investment programs launched to boost domestic demand. The meeting participants called for more efforts to increase incomes and consumption capabilities, raising low-income earnings, promoting the "stable and healthy" development of the property sector and maintaining steady export growth. The country should endeavor to enhance competitiveness, improve financial macro-management and facilitate the steady and healthy development of the stock market. China announced on Sunday that it would adopt "active" fiscal and "moderately active" monetary policies to expand domestic demand and speed up construction of public facilities. The meeting also decided to push forward a series of key reforms, including restructuring the value-added tax regime, which could cut the tax burden on enterprises by 120 billion yuan next year.
BEIJING, Jan. 17 (Xinhua) -- China and the United States had signed a memorandum of understanding restricting the U.S. import of archeological items originating in China, a Chinese official said Saturday. The memorandum was signed in Washington on Thursday by Chinese Ambassador Zhou Wenzhong and U.S. Assistant Secretary of State for Education and Cultural Affairs Goli Ameri, said Dong Baohua, deputy director of the State Administration of Cultural Heritage (SACH), at a press conference. The agreement's full name is Memorandum of Understanding Concerning the Imposition of Import Restrictions on Categories of Archeological Material from the Paleolithic Period through the Tang Dynasty and Monumental Sculpture and Wall Art At Least 250 Years Old. Under the memorandum and U.S. legislation entitled the Convention on Cultural Property Implementation Act, the U.S. government shall restrict the importation into the United States of archeological material originating in China and representing China's cultural heritage from the Paleolithic Period through the end of the Tang Dynasty, the year 907, and monumental sculpture and wall art at least 250 years old. The U.S. government will promulgate a list of archeological material categories of metals, ceramic, stone, textile, other organic material, glass and paintings, which will be restricted to import from China, unless the Chinese government issues a license or other documentation which certifies that such exportation is not in violation of its laws, the memorandum says. For the purpose of this memorandum, the restricted Paleolithic objects date from approximately 75,000 B.C., according to the memorandum. China and the United States are both States Party of the Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. The convention was adopted by the UNESCO in 1970. For years, the Chinese government has attached importance to cracking down on the stealing, illegal digging, and smuggling of cultural relics and tried to cooperate with the international community in the crackdown, by participating in internationals conventions and signing bilateral and multilateral agreements on the issue. In addition to the newly-signed Sino-U.S. memorandum, China has signed similar agreements with Peru, India, Italy, the Philippines, Greece, Chile, Cyprus, and Venezuela, according to the official.

CAIRO, Dec. 25 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said on Thursday that China is willing to further the strategic cooperative ties with Egypt which was established in 1999. During his meeting with Egyptian President Hosni Mubarak, Li said the tenth anniversary of the establishment of the ties in next year should be an opportunity to further such a relationship. "The two sides should take advantage of this opportunity to strengthen the strategic coordination and cooperation and enrich the contents of bilateral relations," he said. Li suggested the two countries to deepen cooperation in trade, investment, transport, communications, tourism and human resources as well as explore new areas. Meanwhile, Mubarak expressed beliefs that with the joint efforts of leaders of the two countries, Egypt-China strategic cooperative relations will make new progress. Li arrived here on Wednesday afternoon for a four-day official visit to Egypt at the invitation of Egyptian Prime Minister Ahmed Nazef. He told Mubarak that the purpose of his visit is to implement the consensus reached by the two heads of state, deepen the relations with Egyptian and promote relations with Arab and African countries. He hailed Egypt, which he believes plays an important role in international and regional affairs, as an important cooperative partner of China among developing countries. "The Chinese side attaches great importance to developing Sino-Egyptian relations," Li noted, adding that the two countries have always respected each other, treated each other frankly and witnessed continuously deepened political trust and rapid development of pragmatic cooperation in various areas. "The relationship between the two nations has become a model for cooperation among developing countries," he said. Mubarak asked Li to convey his regards to Chinese President Hu Jintao and other Chinese leaders. He said he has maintained close and friendly relations with several generations of Chinese leaders, and Egypt is pleased to see China's rapid development, and hopes it can be stronger. He said he has been working to promote the development of bilateral ties, and attaches great importance to developing friendly cooperation in all fields with China. Li also briefed Mubarak on China's measures in countering the global financial crisis, including adjusting macroeconomic policies in a timely manner, implementing proactive fiscal policy and moderate monetary policy and expanding domestic demand to promote economic growth. He said China believes that these measures will be conducive to China's economy to maintain steady and rapid development. After the meeting, Li briefed the Egyptian media on the meeting with the president. Li also held talks with Egyptian Prime Minister Ahmed Nazef, and the two attended a signing ceremony on cooperative documents in fishery. Besides meetings with Egyptian leaders, Li will also attend the opening ceremony of a China-Egyptian business forum in the afternoon. Egypt is the second leg of Li's first overseas trip since he took office as vice premier in March. The trip has brought him to Indonesia and will bring him to Kuwait. Among his entourages are senior foreign affairs, development, commercial and banking officials. According to Chinese statistics, trade volume between China and Egypt has reached more than 5.3 billion U.S. dollars as of October this year, a 44-percent increase compared with the same period of last year. By the end of July, about 570 Chinese companies have invested in the northeastern African country. In addition, more and more Egyptian students begin to study Chinese language as the bilateral ties ushered into a new phase. Up to now, there are five Egyptian universities that have established Chinese language departments.
HEFEI, Jan. 31 (Xinhua) -- Vice Premier Hui Liangyu said on Saturday that local government should seek every means to help migrant workers land jobs, calling it "a prominent and important task" in the current rural work agenda. Hui made the remarks when he toured east China's Anhui Province. He urged local enterprises to guarantee job opportunities for migrant workers and asked infrastructure projects contractors to hire as many migrant workers as possible. The vocational training for the migrant workers should be strengthened, Hui said. Migrant workers were also encouraged to go back to their hometown to start their own business, and support should be given in bank loans, tax breaks and business registration, according to Hui. Hui also urged local government to attach great importance to the fight against drought, which plagued more than 866,700 hectares of wheat in the province. He said rural water control facility construction should be speeded up. He also asked local authorities to enhance the control of bird flu and foot-and-mouth disease.
BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading. Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis. "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday. "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said. Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis. It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said. According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year. With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said. Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities. Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said. "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said. In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.
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