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BEIJING, Jan. 7 (Xinhua) -- Chinese Vice Premier Li Keqiang urged more efficient and transparent use of government funds as the country faces rising fiscal expenditures while tackling the global financial crisis.     China should strengthen management and scrutiny of the fiscal budget and should reduce administrative expenses as the country faces relatively high fiscal pressure, Li said at a national fiscal conference on Tuesday.     The government must "firmly oppose extravagance and waste", he said.     China will have "a difficult fiscal year" in 2009 because of lower tax revenues and surging expenditures, Finance Minister Xie Xuren said on Monday.     China's 2008 fiscal revenue is expected to rise 19 percent to exceed 6 trillion yuan (about 857 billion U.S. dollars), said Xie.     That growth was slower than the 32.4-percent annual gain made in 2007.     The country's fiscal revenue increase started to slow down in the second half of 2008, said Xie. He attributed that change to economic deceleration, corporate profit decline and tax cuts made to boost growth.     China decided to carry out an "active fiscal policy" and "a moderately easy monetary policy" in 2009. It has unveiled a four trillion-yuan fiscal package to stimulate domestic demand.

BEIJING, Nov. 26 (Xinhua) -- China's State Council, or the Cabinet, said on Wednesday that more efforts would be made to encourage enterprises to upgrade technology and engage in independent innovation.     It also said there would be policies to promote merger and acquisition among enterprises.     The policies were clinched at an executive meeting of the State Council, presided over by Premier Wen Jiabao. The meeting was held to discuss measures to address difficulties faced by enterprises and promote economic growth and deliberate plans to reform finished oil pricing mechanism and fuel taxes and fees.     According to the meeting, plans would be drawn up to help some key industries, including steel, auto, ship manufacturing, petrochemical, light industry, textile, nonferrous metals, equipment manufacturing and information technology.     The meeting urged banks to increase credit supply to help small and medium enterprises overcome difficulties.     To offset adverse global economic conditions, the State Council on Nov. 9 has announced a 4 trillion yuan (585.7 billion U.S. dollars) stimulus package to boost domestic demand. This will be combined with other boosting measures, such as loosening credit conditions and cutting taxes.     The huge amount of money will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding after several disasters, most notably the May 12 earthquake.     The State Council also discussed the reform plans of finished oil pricing mechanism and fuel tax and fees at the meeting. It decided to make public the two draft reform plans to solicit public advice.     According to the National Development and Reform Commission, the government has been studying a fuel tax to replace the current road tolls imposed upon vehicles.     The long-awaited fuel tax and fee reform was first proposed in 1994.     The State Council meeting also reached decisions to increase the storage of key materials and resources, accelerate development of the service industry and enhance measures to promote employment and social security.     More education and job training would be provided among the government's efforts to increase employment. This education and training should also cover the lay-off workers and rural laborers who returned from cities because of unemployment, according to the meeting.

BANGKOK, Nov. 30 (Xinhua) -- The first Chinese charter plane organized by Chinese government landed Saturday afternoon at U-Tapao airport, some 180 kilometers from Bangkok to bring back home Chinese tourists stranded in Bangkok due to anti-government protestors' siege of the two Bangkok airports.     The first flight from China Eastern Airlines, a A300 airplane, arrived at about 4:30 p.m. local time (0930GMT) at the small and crowded military airport to board 261 passengers back to Shanghai. It will be followed by four other charter planes, from the China International Airlines, China Southern Airlines and Shanghai Airlines.     The five planes will take the first batch of some 1,400 stranded Chinese back to Beijing, Guangzhou and Shanghai, hopefully to take off on late Saturday. Chinese tourists, once stranded after the closure of airports in Bangkok, arrive at Shanghai Pudong International Airport, in Shanghai, on Nov. 29, 2008. The 46 tourists returned to Shanghai on Saturday aboard a Dragonair flight. They had to drive to Phuket island, more than 1,000 km south of Bangkok, to be flown to Hong Kong and then the Chinese mainlandChinese Ambassador to Thailand Zhang Jiuhuan, who arrived at the airport to receive the first flight, said that the Chinese government has arranged the second batch of planes to fly to Thailand on Sunday.     At the airport, which the Thai government made a make-shift international air departing port, over 10,000 passengers flooded into the airport since the morning, causing heavy traffic jam on ways from Bangkok towards the airport.     Nearly 100,000 passengers have missed flights since People's Alliance for Democracy (PAD) protestors besieged and shut down Bangkok's two main airports Suvarnabhumi International Airport and Don Mueang domestic airport on Tuesday. The total number of the affected travelers could hit 300,000 as the two airports remained closed, Tourism and Sports Minister Weerasak Kowsurat said Saturday.     The total of stranded Chinese, including those from Chinese mainland, Hong Kong, Macao, was estimated at about 4,000, according to the Chinese Embassy here.

BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30.     The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent.     This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year.     The growth rate was 2.3 percentage points lower than the same period of last year, and half a percentage point lower than the first half.     "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang.     The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say.     Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices.     China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted.     Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption.     "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added.     However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important.     Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market.     China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months.     Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown.     The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.

BRUSSELS, Jan. 30 (Xinhua) -- China and the European Union (EU) on Friday agreed to strengthen practical cooperation in jointly addressing the current global financial crisis.     The agreement came after talks between visiting Chinese Premier Wen Jiabao, who arrived here on Thursday for a visit to the EU headquarters, and European Commission President Jose Manuel Barroso.     Wen told Barroso that China, in its foreign relations, lays a strategic emphasis on developing the comprehensive strategic partnership with the EU, and promoting cooperation to jointly tide over the current difficulties should be a key task for both sides under current circumstances.     To this end, both sides need to trust and respect each other, treat each other equally and aim for mutual benefit, Wen said. In particular, China and the EU should address each other's major concerns and try to stave off disputes, he added.     Barroso said the EU and China have seen close, deep and fruitful relations, and, as two major forces in the world, many global issues cannot be solved without EU-China cooperation.     The EU is ready to promote dialogue and cooperation with China to elevate the comprehensive strategic partnership to a higher level, he said.     To jointly tackle the global financial crisis, China and the EU agreed to expand information exchanges between financial institutions, the central banks and financial supervisory and regulatory bodies.     Both sides pledged to promote trade and investment. China will continue to steadily expand market access and increase import from the EU, while the EU recognized China's achievement in promoting market economy.     Both sides agreed to support cooperation between small- and medium-sized businesses and to deepen cooperation in technological innovation in such areas as energy conservation, greenhouse gas emission reduction and health care.     China and the EU vowed to work together in mitigating and adapting to climate change, agreeing to boost cooperation in developing new energies, new energy conservation technology and a low-carbon economy.     The two sides also reached consensus on close coordination in macroeconomic policies and opposition to trade protectionism.     China and the EU on Friday signed cooperation agreements on aviation, work safety, clean energy and intellectual property rights protection.

来源：资阳报