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MADRID, Jan. 5 (Xinhua) -- Chinese Vice Premier Li Keqiang and Spanish Prime Minister Jose Luis Rodriguez Zapatero Wednesday pledged continuous joint efforts to promote the cooperation between China and Spain, and between China and Europe as a whole.During their meeting, Li said China sees Spain as a reliable friend in Europe, and firmly backs Spain's efforts in countering the international financial crisis, as well as a series of economic and financial adjustment measures the Spanish government has adopted.With its own efforts and the support from the international community, Spain will surely overcome the difficulties, achieve financial stability and economic growth, Li said.Chinese Vice Premier Li Keqiang (R) meets with Spanish Prime Minister Jose Luis Rodriguez Zapatero in Madrid, Spain, January 5, 2011.Stressing the importance of boosting international pragmatic cooperation in eliminating the deep-seated impacts of the financial crisis, Li urged China and Spain to carry out cooperation in such areas as technology and capital, and achieve new progress in trade and economic development.Spanish enterprises are welcome to bring their competitive products to China, he said.Both sides can expand cooperation in new aspects such as energy conservation and environmental protection, new energy and new materials, Li said, adding that enterprises on both sides are encouraged to jointly explore the third-party markets to bring mutual benefits and achieve an all-win result.Li said he is confident that new progress can be made in the all-round cooperation between China and Spain as long as both sides make efforts in concert and fulfill their agreed deals.Zapatero, on his part, stressed the priority of Spain's relations with China in his country's foreign policy. He also called the ties the most successful cooperative relations.Spain advocates globalization and multilateralism, and the building of a new, fair and balanced multilateral order, Zapatero said, adding that China should play an important role in this order.
CHICAGO, Jan. 7 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi met here Friday with Chicago Mayor Richard M. Daley to discuss issues concerning the upcoming state visit to the United States by Chinese President Hu Jintao.During the meeting, Yang spoke highly of Daley's long-term commitment to promoting the cooperation and exchange between U.S. and China.He also said that Hu's upcoming visit is of great significance to the advancement of bilateral relations in the new era.Yang thanked Daley for the city's efforts in preparing for Hu's visit, saying that the visit will further enhance the pragmatic cooperation between China and Chicago as well as the Midwest U.S.Daley said that the city of Chicago attached great importance to the friendly cooperation with China, and hopes to make itself the most friendliest U.S. city to China, as well as the premier destination for businesses and visitors from China.He said that the city of Chicago is eagerly anticipating the visit by President Hu and will make every efforts to ensure the visit attains complete success.
LONDON, Jan. 14 (Xinhua) -- The British business sector was pleased at the successful visit this week of Chinese Vice Premier Li Keqiang which concluded on Wednesday.During the four-day visit, Li signed business agreements with an estimated value of more than 4 billion U.S. dollars with the British government."China is vital to the UK economy. China is now the world's largest goods exporter and the UK's largest goods export market outside the U.S. and EU. We are keen to realize the immense potential for deepening and broadening areas of commercial cooperation," said British Minister of State for Trade and Investment Lord Green during the visit.The British coalition government was faced with a near-record public spending deficit of 149 billion pounds (about 236.5 billion dollars) and has chosen to tackle it immediately with the deepest set of cuts to public spending since the Second World War.In such an economic climate, Vice Premier Li's visit to Britain brought welcome contracts but it also brought wider agreements that will bear fruit over a longer period, and that has been hailed as a great success.In an interview with Xinhua after Li's visit, Andy Scott, director international of the Confederation of British Industry (CBI), hailed the visit's success, the achievements of the deal itself, and the longer-term prospects which were very positive.Commenting on the visit, and on the wider China-British relationship, he said, "in the long-term prospects are very positive. They are positive on the political front, they are positive on the business front. And from a political point of view I think it is very telling that this government here in the UK ... has made international trade investment one of the top priorities for Prime Minister David Cameron and right across his Cabinet."Scott said that Cameron's visit to China last November, when he headed the largest trade delegation from Britain to China and the largest ministerial delegation, was a sign of Britain's keenness to do business with China. Scott said he believed there were more ministerial visits planned."That's all extremely positive and I think it demonstrates that at a political level as well as at a business level, China is seen strategically as being a crucially important partner for the UK, and I think this visit -- this very successful visit this week -- will only further help to reinforce that relationship," he added.The headline-grabbing part of Li's visit, apart from the loan of the pandas, was the largest single deal announced this week, allowing the import of 40,000 Jaguar Landrover vehicles into the Chinese market.Scott hailed this as demonstrating "the continuing strengths and this continuing strengthening" of the Sino-British relationship.The monetary value of deals announced was important, but Scott stressed the importance of framework deals which were agreed upon during Li's visit."They weren't necessarily contracts that were being signed there and then, yesterday or today. They were setting the framework and they will themselves be providing further opportunities to develop on those frameworks," he said.In addition, he stressed "professional services, the retail sector, design, the creative area, and the whole engineering consultancy arena" where Britain has goods which China wants in its infrastructure development.Scott particularly welcomed Chinese investment into Britain, and hoped that it would continue the momentum achieved recently."We are increasingly seeing China now investing directly in UK companies and that we see as being very positive," he said.That was now "a further example of where the whole relationship with China is changing; it is not just about physical goods, it is about investment, it is about capital coming into the UK," he added.
BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.
CHICAGO, Jan. 7 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi met here Friday with Chicago Mayor Richard M. Daley to discuss issues concerning the upcoming state visit to the United States by Chinese President Hu Jintao.During the meeting, Yang spoke highly of Daley's long-term commitment to promoting the cooperation and exchange between U.S. and China.He also said that Hu's upcoming visit is of great significance to the advancement of bilateral relations in the new era.Yang thanked Daley for the city's efforts in preparing for Hu's visit, saying that the visit will further enhance the pragmatic cooperation between China and Chicago as well as the Midwest U.S.Daley said that the city of Chicago attached great importance to the friendly cooperation with China, and hopes to make itself the most friendliest U.S. city to China, as well as the premier destination for businesses and visitors from China.He said that the city of Chicago is eagerly anticipating the visit by President Hu and will make every efforts to ensure the visit attains complete success.