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BEIJING, Feb. 27 (Xinhua) -- Chinese Premier Wen Jiabao is scheduled to chat with Internet users at 3 p.m. (Beijing Time) Saturday at two state news portals.The two major portals, www.gov.cn, of the central government, and www.xinhuanet.com, of the Xinhua News Agency, will jointly interview Premier Wen, a Standing Committee member of the Political Bureau of the Communist Party of China Central Committee.Netizens in China and abroad are invited to raise questions to Wen via the Development Forum (http://forum.xinhuanet.com), and the premier is expected to answer some of these questions.The on-line chat will be shown live in texts, pictures and videos at the two portals.
BEIJING, Feb. 16 (Xinhua) -- Foreign-funded enterprises in China exported 494.4 billion U.S. dollars worth of machinery, electrical and electronic products in 2009.A document posted on the website of the General Administration of Customs (GAC) said the figure made up 69.3 percent of the country's total exports of such products in the past year.Exports of machinery, electrical and electronic products by privately-owned enterprises totalled 106.6 billion U.S. dollars in 2009, down 8.7 percent from a year earlier, according to the document.State-owned enterprises only exported 92.1 billion U.S. dollars worth of machinery, electrical and electronic products, accounting for 12.9 percent of the country's total machinery, electrical and electronic products last year.The GAC document also said the majority of the country's exports of machinery, electrical and electronic products fell into the category of processing and assembling trade.China's exports of machinery, electrical and electronic products in the category of processing and assembling trade totalled 466.4 billion U.S. dollars last year, making up 65.4 percent of the country's total exports of such products.The country exported 713.1 billion U.S. dollars worth of machinery, electrical and electronic products last year, down 13.4 percent year-on-year. The exports contributed 59.3 percent to China's total exports in 2009.The European Union (EU), the United States of America and Hong Kong were the three major destinations for the China mainland's exports of machinery, electrical and electronic products last year.China exported 1.2 trillion U.S. dollars worth of products last year, down 16 percent from 2008, replacing Germany as the world's largest exporter.

BEIJING, Feb. 9 (Xinhua) -- The Korean Peninsula nuclear situation has eased recently, providing an opportunity for resuming six-party talks and denuclearizing the peninsula, a Chinese foreign ministry spokesperson said here Tuesday.Foreign Ministry spokesman Ma Zhaoxu made the remarks following questions on whether a Chinese official's visit to the Democratic People's Republic of Korea (DPRK) and a UN envoy's trip to China meant the resumption of the talks.Ma confirmed that a special envoy of UN Secretary-General Ban Ki-moon visited Beijing."Lynn Pascoe, under-secretary-general of the UN for political affairs had exchanges with China's Foreign Minster Yang Jiechi on the Korean Peninsula situation and other issues of mutual concern earlier Tuesday."Chinese Foreign Ministry spokesman Ma Zhaoxu speaks during a regular press conference on Tuesday, Feb. 9, 2010 in BeijingThe DPRK nuclear issue is complex and sensitive, involving interests of various parties, and can only be resolved through dialogue and negotiation. Peaceful solutions through political and diplomatic means are the right choices that serve interests of all parties, Ma said.The stalled six-party talks involve the DPRK, the Republic of Korea, China, Japan, Russia and the United States.Kim Jong Il, top leader of the DPRK, reiterated on Monday the country's stance of realizing denuclearization on the Korean Peninsula during a meeting with Wang Jiarui, head of the International Department of the Communist Party of China (CPC) Central Committee.Ma urged the relevant parties to make concerted efforts and to continue contact and dialogue and to show flexibility to create the conditions necessary for the revival of the nuclear talks.The Chinese side has made continuous efforts toward this goal and will work with the international community to achieve the denuclearization of the Peninsula, normalized diplomatic relations between the relevant states and lasting peace in northeast Asia, Ma said.Pascoe arrived in Pyongyang as the first high-level UN official to visit the country since 2004. He is expected to meet with DPRK's high-level officials to discuss issues ranging from Pyongyang's nuclear program to humanitarian aid issues.
BEIJING, Jan. 13 (Xinhua) -- The decision of the People's Bank of China (PBOC), the central bank, to increase the deposit reserve requirement ratio has drawn worldwide attention and fluctuations in global markets. The PBOC decided on Tuesday to raise the deposit reserve requirement ratio by 0.5 percentage points as of Jan. 18, which analysts translated as a move to manage inflationary expectations and avoid a recurrence of the lending boom. This was the first time that the PBOC adjusted the ratio of deposit that lenders are required to set aside since the end of 2008 and the first increase for the ratio since June 2008. The PBOC cut the bank reserve requirement ratio four times in the second half of 2008 to stimulate growth as the global financial crisis started to weigh on the economy. The adjustment of the reserve requirement ratio, without changing benchmark interest rates, indicated the central bank was targeting inflationary expectations instead of inflation, said Zhao Qingming, a senior researcher at the China Construction Bank. Ma Jun, chief economist with Deutsche Bank (Great China), said that the rise in the reserve requirement ratio has ended the expansionary monetary policy and started a tightening cycle. Global markets took a hit after the Chinese attempt to cool the world's fastest-growing major economy. Chinese equities saw their sharpest dip in seven weeks on Wednesday after the central bank asked lenders to set aside more reserves as record bank lending last year ignited fears of inflation and asset bubbles. The benchmark Shanghai Composite Index went down 3.09 percent, or 101.31points, to close at 3,172.66 points. The Shenzhen Component Index lost 2.73 percent, or 364.69 points, to close at 13,016.56 points. Hong Kong stocks shed 578.04 points, or 2.59 percent, to close at 21,748.60 on Wednesday. The Hong Kong market was also dragged by overnight losses on the United States markets. The benchmark Hang Seng Index opened down 1.42 percent and widened its losses to 2.24 percent by lunch break, and further to 2.59 percent by market close. South Korea's financial markets on Tuesday reacted as the Chinese central bank raised the deposit reserve requirement ratio, with the stock markets and foreign exchange rate plunging from the last close. The benchmark Korea Composite Stock Price Index (KOSPI) and the Korean Securities Dealers Automated Quotations (KOSDAQ) jointly marked a plunge of 27.23 points and 3.65 points, respectively, from the last close. The report from China also affected the foreign exchange market, with the local currency also sliding against the U.S. dollar by 1.9 won. The New Zealand share market also fell on Wednesday after the Chinese move. The share market closed 0.43 percent lower with the benchmark NZSX-50 down 14.1 points at 3,276.2. Canadian stocks fell for the second day, weighed down by a metal and mining sector that was hit by the Chinese central bank's decision to cool economic growth. The S&P/TSX Composite Index declined 126.94 points, or 1.06 percent, to 11,820.18 on Tuesday. Earlier the index shed 173 points to 11, 774, the lowest level this year. U.S. stocks retreated Tuesday, with S&P falling for the first time in 2010, as disappointing Alcoa fourth-quarter results and rising U.S. trade deficit cooled optimism for a strong earnings season and a sustainable economic recovery. Crude tumbled the most in five weeks on concerns that demand from China, the world's second-largest oil consumer, will wane as the government moves to curb lending. Benchmark crude for February delivery fell 1.73 dollars to settle at 80.79 dollars a barrel on the New York Mercantile Exchange. It's the first time this year a barrel has closed below 81 dollars a barrel. Meanwhile, analysts widely hold that the Chinese central bank's decision is to cast only a short-term, instead of mid-term, stroke on the domestic stock market, as the impact would largely be psychological. Zhuang Jian, a senior economist with the Asian Development Bank, said the adjustment did not indicate a shift in the moderately easy monetary policy, but was an effort to control the pace of lending. Through the reserve requirement ratio increase, the central bank intended to call for balanced lending at commercial banks, which would support economic growth while avoiding higher inflationary expectations, Zhuang said.
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