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BEIJING, March 1 (Xinhua) -- President Hu Jintao and other top Chinese leaders joined an evening party Sunday with representatives of intellectuals in Beijing to celebrate the annual Lantern Festival.Hu and eight other members of the Standing Committee of the Political Bureau of the CPC Central Committee, including top legislator Wu Bangguo and Premier Wen Jiabao, attended the event featuring song-and-dance shows and rice dumplings, a traditional food for the festival. General Secretary of the Central Committee of the Communist Party of China (CPC) Hu Jintao (C) talks with delegates from the intelligentsia during a get-together marking the traditional Lantern Festival at the Great Hall of the People in Beijing, capital of China, Feb. 28, 2010. The CPC Central Committee hosted a get-together here on Sunday to mark the Lantern Festival
SHANGHAI, Jan. 24 (Xinhua) -- State Councilor Meng Jianzhu on Sunday called on the armed police to enhance capacities in tackling emergencies and terrorist attacks so as to ensure a safe World Expo.Meng, also Minister of Public Security and first political commissar of the Chinese People's Armed Police Force, made the remarks while watching a drill conducted by the armed police in the World Expo host city Shanghai.Armed police should focus their work on coping with complicated situations at any time and effectively bring under control all sorts of complexities, he said.Armed police should be rigorous, fair and civilized when enforcing the law, and at the same time be rational, even-tempered and conform to their professional standards, Meng said.China's armed police force had made contributions to safeguarding public safety during the 2008 Beijing Olympics and celebrations marking the 60th anniversary of the founding of the People's Republic of China last year, he said.The World Expo, to be hosted by China for the first time, is scheduled for May 1 to Oct. 31. To date, at least 192 countries and 50 international organizations have confirmed their participation in the global feast that will present the latest advances of architecture and engineering worldwide.

BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.
KHARTOUM, March 3 (Xinhua) -- Chinese Special Envoy to Darfur, Liu Guijin, on Wednesday reiterated his country's support to the ongoing efforts to find a peaceful settlement to the Darfur crisis. "China believes in the importance of finding a comprehensive and lasting peace agreement on the Darfur issue, and encouraging the conflicting parties to achieve a comprehensive peace and resolve the root-causes of conflicts in the region," Liu told reporters after his meeting with Sudanese President Omar al-Bashir.Visiting Chinese Special Envoy to Darfur Liu Guijin speaks at a press conference after meeting with Sudanese President Omar al-Bashir in Khartoum, capital of Sudan, March 3, 2010. Liu Guijin on Wednesday reiterated China's support to the ongoing efforts to find a peaceful settlement to the Darfur crisis. He expressed China's support for the peace process in Darfur, saying "China supports the normalization of Sudan-Chad relations, the framework agreement recently signed between the Sudanese government and the Justice and Equality Movement (JEM) and the negotiations between the government and all the Darfur factions."In the meantime, Liu expressed China's confidence in Sudan's ability to organize free and credible elections, saying "China has provided a financial support for the electoral process in Sudan." Sudanese President Omar al-Bashir (R) meets with Chinese Special Envoy to Darfur Liu Guijin (2nd L) as Chinese Ambassador to Sudan Li Chengwen (1st L) looks on in Khartoum, capital of Sudan, March 3, 2010. Liu Guijin on Wednesday reiterated China's support to the ongoing efforts to find a peaceful settlement to the Darfur crisis"The Chinese government has decided to send observers to monitor the elections," he added.He further expressed China's appreciation of the success of the signatories to the Comprehensive Peace Agreement (CPA), the National Congress Party (NCP) and the Sudan People's Liberation Movement (SPLM), in overcoming the issues which hampered implementation of the CPA."The two partners have managed to overcome the barriers through dialogue and concessions," he said.On Sunday, the Chinese envoy started his visit to Sudan during which he held talks with a number of Sudanese officials in Khartoum.He also visited Juba in south Sudan and held talks with the Sudanese First Vice-President and President of the government of south Sudan Salva Kiir Mayardit.
BEIJING, March 8 (Xinhua) -- China is making plans to upgrade its food safety system, stressing improved quality standards and strengthened supervision, according to a notice made public Monday at www.gov.cn.In late February, south China's Hainan Province took emergency measures to stop toxic cow peas from entering the market after about 3.5 tonnes of Hainan cow peas found were tainted with a poisonous pesticide.To prevent such incidents and help ensure food safety, the country plans to increase the frequency of food tests and inspections -- especially for dairy products and other high-risk food.National quality standards for diary products will also be released this year.At least six infants died and almost 300,000 became ill across the country after consuming dairy products tainted with the industrial chemical melamine. The scandal was first reported in September 2008 and prompted a food safety overhaul nationwide.
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