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BEIJING, March 20 (Xinhua) -- Top Chinese leaders paid visits on Thursday and Friday to the 2009 Energy Saving, Emissions Reduction and New Energy Science and Technology Expo, which is held at the Beijing Exhibition Hall from March 19 to 23. The leaders of the state and the Communist Party of China included Hu Jintao, Wu Bangguo, Wen Jiabao, Jia Qinglin, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang. Chinese President Hu Jintao (4th L) talks with an exhibitor in the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 20, 2009. President Hu visited the expo on March 20.They looked around the booths, watching carefully fuel cell cars, hybrid electric vehicles and new energy-saving washing machines, and getting to know the latest measures the government has taken for emission reduction and new energy development. Hu Jintao emphasized that China should enhance its energy saving and continue to develop renewable energy sources in light of the present global economic downturn. China would take an active part in international cooperation to cope with climate changes and jointly build ecological civilization together with other countries, Hu said. Wu Bangguo (2nd R), chairman of the Standing Committee of the National People's Congress, China's top legislature, visits the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 20, 2009. Chinese Premier Wen Jiabao (C) looks at exhibits in the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 19, 2009. Premier Wen visited the expo on March 19
GUILIN, (Guangxi), Feb. 14 (Xinhua) -- China will tighten water resources management and take measures to reduce waste to cope with worsening water shortage, Water Resources Minister Chen Lei said here Saturday. Water shortage impelled us take into consideration of overall economic and social development and economical use of water resources to ensure sustainable economic and social development, Chen said at a national conference in Guilin, in southern Guangxi Zhuang Autonomous Region. China is planning to reduce water consumption per unit of GDP to 125 cubic meters by 2020, down 60 percent from now, Chen said. Water consumption averaged 229 cubic meters per 10,000 yuan worth of products, according to statistics provided by the Ministry of Water Resources (MWR) at the end of 2008. That figure was down 10 percent compared with the previous year. Statistics released Saturday showed the country lacked 40 billion cubic meters of water every year, with almost two thirds of cities suffering various levels of water shortages. More than 200 million rural people face drinking water shortages. At the same time, farmland stricken by drought reached 230 million mu (15.3 million hectares) every year, nearly 13 percent of the total farming area. The most severe drought in half a century, which is hitting China this spring, affected 111 million mu of crops so far, with 4.68 million people and 2.49 million livestock threatened by water shortages, according to official statistics from the State Flood Control and Drought Relief Headquarters. "We must take strict measures to preserve water resources in the face of the severe lack of water worsened by factors such as overuse, pollution and drought ," Chen said. The ministry also expected to increase 79.5 billion cubic meters of water resources by 2020 and secure water supplies for both urban and rural people. Chen proposed reinforcement of laws and regulations on water allocation, consumption and preservation as a fundamental way to achieve this goal.

BEIJING, March 26 (Xinhua) -- China's central bank governor has spoken highly of the government's rapid responses to the current global financial crisis, featuring decisively adopting a proactive fiscal policy and an adaptively easing monetary policy, and launching a bundle of timely, targeted and temporary policies and measures. The prompt, decisive and effective policy measures adopted by the Chinese government demonstrates "its superior system advantage when it comes to making vital policy decisions," says Zhou Xiaochuan, president of the People's Bank of China (PBC), in an article entitled "Changing Pro-cyclicality for Financial and Economic Stability." It is Zhou's third article published on the central bank's official website (WWW.PBC.GOV.CN) this week to discuss the issue of the current global financial crisis. His first and second articles, published on Monday and Tuesday, are entitled "Reform the International Monetary System" and "On Savings Ratio," respectively. In the third article, the 61-year old central bank governor tries to find out the root causes for the current financial crisis, including but not limited to lessons on monetary policy, financial sector regulations, accounting rules. The top Chinese banker says he wants to stimulate debate and discussions on some of the pro-cyclical features in the system, possible remedial measures, and how monetary and fiscal authorities can play their professional roles at times of severe market distress. "Financial crises normally originate in the accumulation of bubbles and their subsequent bursts. Usually, economists pay a lot of attentions to pro-cyclicality on the macro level. However, on the micro level, there are quite a number of notable pro-cyclical features embedded in the market structure today, which should be addressed as we deal with the current crisis and reform the financial system," he says. Zhou suggests that in the current market structure, more counter-cyclical mechanisms or negative feedback loops on micro-level should be put in place to sustain a more stable financial system. In the article, he notes that rating problems and herding phenomenon arise from outsourcing. The global financial system relies heavily on the external credit ratings for investment decisions and risk management, giving rise to a prominent feature of pro-cyclicality, according to the central bank governor. "Economic upswings produce euphoria and downturns generate pessimism," he says, "Many market players adopting ratings from the three agencies and using them as the yardstick for operations and internal performance assessments clearly result in a massive "herd behavior" at the institutional level." Zhou points out that some market players seem to have forgotten that the ratings are no more than indicators of default probabilities based on past experiences but were never meant to be guarantees for the future, he says. "Once problems take place, as we have seen during the current crisis, fingers are pointed to the rating agencies," he says. He suggests that financial institutions should try to rely more on internal rating in assessing risks. He calls for giving full play to the professional role of authorities in maintaining overall financial stability and establishing a counter-cyclical mechanism for capital requirement "To stabilize markets under severe stress, finance ministries and central banks need to act fast and apply extraordinary measures," he says, "Untimely or delayed response falls behind the curve and would make the outcome less than desired even if the response is correct and strong." In modern Western societies, a prolonged political process for mandates to finance ministries or central banks often miss the best timing for action, Zhou says, adding, "We have observed such cases during the current crisis." He suggests that governments and legislatures may consider giving pre-authorized mandates to ministries of finance and central banks to use extraordinary means to contain systemic risk under well-defined stress scenarios, in order to allow them to act boldly and expeditiously without having to go through a lengthy or even painful approval process. "Such systematic pre-authorized mandates would put the specialized expertise of finance ministries and central banks to the best use when markets need it the most," he stresses. The central bank governor attributes China's current success in easing the impacts of the crisis to the country's financial sector reform and ongoing macroeconomic stimulus measures In 2003, fully aware of the systemic vulnerabilities of China's banking industry, the Chinese government made a courageous and strategic decision to restructure the four state-owned commercial banks, says Zhou, who took over as the PBC governor in late 2002. In the article, Zhou gives a look back on the reforms of the country's major banks and security industry. But he warns, "We should bear in mind that despite the notable achievements in banking reform, the major banks have not gone through a full business cycle and still have much to improve. An economic slowdown will be the ultimate stress test for the robustness of the banks' strengths." According to the bank governor, irrespective of China's sound financial sector, the Chinese economy, especially the export sector, has felt the impact brought by the slowdown of the global economy. He praises the Chinese government for its plans to stimulate domestic demand and promote stable and relatively rapid economic growth, including the extra investment of 4 trillion yuan (685 billion U.S. dollars) in over two years, the ten measures to revitalize the industrial sectors, and other bolster measures to increase money supply, promote employment, reform taxes and medical and healthcare system. "Having taken the above-mentioned measures, China expect to maintain stable economic growth by boosting domestic demand and reducing dependence on external demand, thus serving as a stabilizing force in global economy," Zhou says. In overall, the macroeconomic measures have produced preliminary result and some leading indicators are pointing to recovery of economic growth, indicating that rapid decline in growth has been curbed, he concludes.
BEIJING, April 5 (Xinhua) -- Chinese Foreign Minister Yang Jiechi made a phone conversation with his U.S. counterpart Hillary Clinton on Sunday, expressing concerns over Chinese nationals killed and injured in Friday's Binghamton shooting rampage. According to preliminary investigation results, four Chinese women were among the people killed in the shooting and another Chinese national was injured. The American Civic Association is cordoned off in Binghamton, New York, the United States, April 4, 2009. Chinese are among the dead in Binghamton Shooting, Chinese consulate cities police sources"This was a very serious incident and the Chinese government is deeply concerned about it," Yang said. "We grieve over the death of the Chinese nationals and other victims, and our condolences go to the injured people as well as the victims' families," he said. China hopes the United States will properly handle the matters concerning the Chinese victims, offer immediate medical treatment to the injured Chinese, and provide the victims' families with timely and sufficient assistance as well as convenience to get visas to America, Yang said. The Chinese Embassy and the Consulate-General in New York are both making urgent contacts with the U.S. side over the issue, he added. Yang also urged the U.S. to take necessary measures to ensure the safety of the Chinese nationals and their properties in the United States. Clinton, for her part, extended condolences to the Chinese victims and their families. She said the shooting was a tragedy and investigations have been underway into the cause. The United States will be serious with China's requests, she said, pledging all efforts to offer medical treatment to the injured Chinese and to provide the victims' families with timely and comprehensive assistance to get visas to her country. Thirteen people were killed and four others wounded Friday in the shooting spree by a lone gunman at an immigrant services centre in downtown Binghamton, New York. Binghamton Mayor Matthew Ryan described the shooting as "a tragedy that affects many different people from many different countries and their families and friends." There have been inquires from nine different countries and two different consulates, Ryan told a press conference.
BEIJING, April 5 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Sunday held phone talks respectively with U.S secretary of state and foreign ministers of Russia, Japan and South Korea on the Democratic People's Republic of Korea's (DPRK) launching activity. China has noticed the DPRK's announcement of having launched an experimental communications satellite and taken note of the concerns expressed by the relevant parties on this issue, Yang told his counterparts of the U.S., Russia, Japan and South Korea Hillary Clinton, Sergei Lavrov, Hirofumi Nakasone, and Yu Myung Hwan. China, as a close neighbor of the Korean Peninsular, has always been committed to safeguarding peace and stability on the Korean Peninsular and in the Northeast Asia region, Yang said. The Chinese government lately has reiterated its stance on solving the issue through dialogue and consultation and opposing any actions that could complicate the situation and escalate tension, he added. To push forward the six-party talks, build a nuclear-free Korean Peninsular and maintain peace and stability in Northeast Asia are in the interests of all parties concerned and also the common aspirations of the international community, said the Chinese minister. He said the Chinese side urged all relevant parties to show restraint and avoid any moves that could further increase tension in the region. China will address the current situation in a responsible and constructive manner, Yang said, noting that China is willing to communicate with all parties concerned to solve the issue properly. China will join efforts with other parties to advance the six-party talks and safeguard peace and stability of the Korean Peninsular, he added. Russian, Japanese, South Korean foreign ministers and the U.S. sectary of state also expressed their countries' willingness to continue exchanges of views and consultation with China on the issue.
来源:资阳报