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PHOENIX, United States, Sept. 8 (Xinhua)-- Top Chinese legislator Wu Bangguo said here Tuesday that despite the financial crisis he was confident about "the bright future" of the Chinese-U.S. economic cooperation and trade. "Although no clear signs of world economic recovery have emerged and the long-term impact of the international financial crisis cannot be overlooked, we can be confident about a bright future of China-U.S. economic cooperation and trade," said Wu, Chairman of the Standing Committee of China's National People's Congress. Wu Bangguo (R, front), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with Arizona Governor Jan Brewer (L, front) in Phoenix of Arizona state, the United States, Sept. 6, 2009Wu made the remarks at the one-day U.S.-China Economic and Trade Cooperation Forum which was held in Phoenix. Attending the forum were more than 200 government officials and business representatives from both countries.     Wu said such confidence can be based on the following three reasons:     First, the general trend of China-U.S. economic cooperation and trade will not change. This can be highlighted by two points.     The first point is: the fact that the Chinese and American economies are mutually complementary has not changed.     For China the largest developing country in the world, the top priority is development. Over the past three decades of reform and the opening-up, China's economy has maintained an average annual growth rate of 9.8 percent. It was able to grow by 7.1 percent even in the first half of this year, and is expected to reach the target of around 8 percent growth for the whole year. The accelerated pace of industrialization and urbanization has generated great investment demand in China, which is at the same time a market of 1.3 billion consumers. China's development and huge market provide an inexhaustible source of business opportunities and impetus for the economic recovery and development of all countries, including the United States.     The United States is the largest developed country and accounts for 18.3 percent of the world's total GDP and 43 percent of the world's consumer market. It has a trade volume unmatched in the world and is an obvious leader in science and technology, human resources, managerial expertise and marketing.     "The complementary nature of our two economies has not been changed by the international financial crisis," Wu stated.     The second point is that the foundation of China-U.S. economic cooperation and trade remains strong.     In 2008, bilateral trade amounted to 333.74 billion U.S. dollars, making China and the U.S. each other's second largest trading partners. In the past five years, American exports to China grew by 20 percent annually. Last year, China accounted for 49 percent and 34 percent of American soybean and cotton exports respectively. In cumulative terms, the United States has invested over 61 billion U.S. dollars in 57,000 projects in China. In the first seven months of this year, China and the United States signed 888 technology contracts worth 3.26 billion U.S. dollars, up 41.3 percent year on year. They represents 25.3 percent of the total value of technology introduction contracts signed by China and makes America the largest source of technology for China. Although China-U.S. trade experienced a year-on-year drop in the first half of 2009, the decline is nearly 7 percentage points smaller than that of China's foreign trade as a whole.     "These figures provide sufficient evidence that the China-U.S. economic and trade relationship is one of cooperation and win-win progress, and such a basic pattern has not been changed by the international financial crisis," Wu said.     Second, the economic stimulus plans implemented by China and the United States have created new business opportunities.     To counter the impact of the international financial crisis and maintain steady and relatively fast economic development, the Chinese Government has introduced a proactive fiscal policy and a moderately easy monetary policy and adopted a package plan to further stimulate domestic demand and generate economic growth.     To get out the economic crisis, the U.S. Government has also introduced the biggest economic stimulus package since the 1930s, covering finance, real estate, taxation, infrastructure, the auto industry, environmental protection, energy, science and technology and health care reform, among others.     "The implementation of our respective stimulus plans has offered new business opportunities for economic cooperation and trade between our two countries," Wu said.     Just before the opening of Tuesday's Forum, the two sides signed 41 agreements and contracts on investment and economic and technological cooperation worth a total of 12.38 billion U.S. dollars, involving such areas as new energy and materials, communications, electronics, machinery and tourism, Wu said in his speech.     "This is further evidence of the abundant cooperation opportunities between China and the United States. As long as we work to seek opportunities in this time of crisis, there is a lot we can achieve together," he said.     Third, the economic restructuring strategies of China and the United States will open up new areas of cooperation.     China and the United States are at different stages of economic development, but both face the arduous task of readjustment and are under pressure to adjust their respective economic development models even without an international financial crisis, Wu said.     "The financial crisis, if anything, has only made this task more urgent, " he said.     The U.S. Government wants to adjust the development model while tackling the financial crisis and considers green technologies essential to its efforts to revitalize economic growth, enhance international competitiveness and create jobs. Likewise, China, in its effort to maintain steady and relatively fast economic development, aims to achieve sustainable development while resolving the current difficulties, Wu said.     "We are making great effort to adjust economic structure, upgrade industries and expand domestic demand, especially consumer demand, and transform the economic development model," Wu said.     "As China and the United States restructure our respective economies, we can foster new areas of economic and trade cooperation, especially in the economic and technological fields and between businesses. They may range from low carbon economy, renewable energy, clean energy, clean coal, carbon capture and storage to smart grid, efficient buildings and new energy vehicles," Wu said.     Wu arrived in Arizona on Sunday on the final leg of a three-nation North American tour. He has left Arizona for Washington for a visit in which he is expected to meet with President Barack Obama, Vice President Joe Biden, Secretary of State Hillary Clinton and House Speaker Nancy Pelosi.

BEIJING, Sept. 3 (Xinhua) -- A senior Chinese leader on Thursday urged the cultural industry to make greater efforts to improve China's capacity to communicate internationally and boost cultural exchanges between China and other countries.     Li Changchun, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, said when visiting the 16th Beijing International Book Fair, the cultural industry was a new area of growth with tremendous potential.     Praising achievements made in the sector despite the global downturn, Li said it should strengthen international communication and promote China's brand names effectively and professionally.     The Beijing International Book Fair, initiated in 1986, is one of the world's four largest book fairs. This year, the five-day fair has attracted 1,800 publishing houses from nearly 60 countries and regions. Li Changchun (R, front), a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits the 16th Beijing International Book Fair, in Beijing, capital of China, on Sept. 3, 2009

BEIJING, Oct. 11 (Xinhua) -- Chinese State Councilor Liu Yandong Sunday stressed the importance of nurturing more first-class financial personnel for the nation.     Liu made the remarks when visiting the Beijing-based Central University of Finance and Economics (CUFE) to convey congratulations on its 60th founding anniversary.     CUFE is the first university specialized in financial and economic studies established by the People's Republic of China. It is one of the 100 universities to which the Chinese government attaches top priority in the 21st Century.     Noting that finance is an important state function, and the core of modern economy, Liu expected the university to play a better role in cultivating innovation-oriented financial talents.     She also called on the university to contribute more to the national and local development programs.

BEIJING, Aug. 5 (Xinhua) -- China vowed to deepen its financial system reform and promote more efficient financial intermediation in support of domestic demand, according to a fact sheet released here on Wednesday. To meet the commitment, China would promote interest rate liberalization and consumer finance, said the economic track joint fact sheet of the first U.S.-China Strategic and Economic Dialogue (S&ED).     It said China would accelerate the allocation of QFII quotas to billion and continue to allow foreign-invested banks incorporated in China that meet relevant prudential requirements to enjoy the same rights as domestic banks with regard to underwriting bonds in the inter-bank market.     China would gradually increase the number of qualified joint-venture securities companies that can participate in A-share brokerage, proprietary trading and investment advisory services subject to the condition of meeting relevant laws and regulations.     The country would also support qualified overseas companies to list on Chinese stock exchanges through issuing shares or depository receipts and continuously support qualified Chinese companies to be listed abroad, including in the United States, said the fact sheet.     From the U.S. side, the country would pursue comprehensive reform of financial regulation and supervision to create a more stable financial system and to help prevent and contain potential future crises.     Regulation and supervision would be strengthened to ensure that all financial firms that pose a significant risk to the financial system will be well regulated, major financial markets will be strong enough to withstand system-wide stress and the failure of large institutions, and the government has the tools it needs to respond rapidly and effectively when problems arise, the fact sheet said.     The United States pledged to continue to have strong oversight of the Government Sponsored Enterprises (GSEs). Through Congressional action, the country remained committed to ensuring that the GSEs were able to meet their financial obligations, it said.     The country was committed to undertaking a process of exploring the future of the GSEs, including through seeking public input, and the U.S. government resolved to report to Congress and the public by S&ED II.     In the joint fact sheet, China and the United States pledged continued close communication and coordination to promote financial stability and would work together to expedite the financial sector reform, to improve financial regulation and supervision, and to promote greater financial market transparency, so as to make their financial sectors more robust.     "We recognize the importance of ensuring sound regulation in our own countries and globally," said the fact sheet.     The two countries were undertaking IMF Financial System Assessment Programs (FSAPs) and would complete them in a timely manner,it said.     Both countries would continue to promote convergence towards a single set of high quality global accounting standards and would continue discussions on financial reporting matters.     "The United States and China welcome continued dialogue between the bilateral competent authorities on the oversight of accounting firms providing audit services for public companies in the two countries based on mutual respect for sovereignty and laws," it said.     The two countries would also conduct technical exchanges on the development of private pensions, and would share experiences and strengthen cooperation with regard to improvement of insurance regulation.     The first S&ED was held in Washington, D.C from July 27 to 28. The mechanism was jointly launched by Chinese President Hu Jintao and US President Obama during their meeting in April in London as a way to show elevation of the importance of China-U.S. cooperation under the new historical circumstances.  

JINAN, Oct. 19 (Xinhua) -- Chinese President Hu Jintao has urged the country's companies to reduce operation costs by speeding up the development of renewable energy and help improve the country's energy structure. "Developing renewable energy vigorously is necessary for taking up the front line in the new round of global energy revolution," said Hu while visiting a wind energy project besides the Bohai Sea during his inspection tour in Shandong Province from Oct. 16 to 19.     The project, when finished, will produce more than 95 million kw of electricity every year and will play an important part in improving the local energy structure.Chinese President Hu Jintao (2nd R), who is also general secretary of the Central Committee of the Communist Party of China and chairman of the Central Military Commission, shakes hands with workers as he inspects a wind power project in east China's Shandong Province, Oct. 18, 2009. Hu Jintao made an inspection tour in Shandong Province from Oct. 16 to 19     After attending the opening ceremony of the 11th Chinese National Games in Jinan, capital city of Shandong, Hu inspected the province on local economic development and Communist Party building.     Hu called upon companies to focus on technical innovation and scientific management to improve their sustainable development. Chinese President Hu Jintao (2nd L, front), who is also general secretary of the Central Committee of the Communist Party of China and chairman of the Central Military Commission, talks to staff members of Shengli oil field, in east China's Shandong Province, Oct. 18, 2009. Hu Jintao made an inspection tour in Shandong Province from Oct. 16 to 19. While visiting the country's large oil base Shengli Oilfield, Hu climbed onto a well drilling platform to meet with the workers. He praised the workers for their hard work and outstanding professional skills.     During an inspection in a paper making company, Hu asked about the methods for emission reduction and encouraged the company to continue to improve recycling economy and put more efforts in environmental protection.     Hu also visited a village called Liujihou in the city of Dongying. The village set up its Communist Party branch in 1925 --one of the four oldest Party branches in the province.     Hu urged Party members in the village to seek benefits for villagers, solve their problems and encourage them to develop modern agriculture in a scientific way.