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BEIJING, April 28 (Xinhua) -- China and Peru on Tuesday signed a free trade agreement (FTA) in Beijing, capping over-a-year-long negotiations and legal processes. Chinese Vice President Xi Jinping and his Peruvian counterpart Luis Giampietri Rojas witnessed the signing ceremony in Beijing, with both hailing the deal "a new landmark" in bilateral ties.     "China-Peru agreement is the first FTA package China has signed with a Latin American country," said the Chinese Commerce Ministry. Chinese Vice President Xi Jinping (R) meets with Peruvian First Vice President Luis Giampietri Rojas at the Great Hall of the People in Beijing, capital of China, April 28, 2009.    After 14 months of negotiations, China and Peru concluded their free trade talks in November 2008, followed by some legal processes in both countries.     "With the global financial crisis looming, the China-Peru deals ends a positive message of deepening cooperation and tiding over difficulties," said Zhu Hong, deputy director general of the International Department of the Chinese Commerce Ministry.     The pact is China's second in Latin America, following an accord with Chile in 2005.     "The China-Peru FTA is a comprehensive deal, covering goods, service, investment and other fields while the accord with Chile deals with goods only," Zhu said. A complementary deal on service trade was signed with Chile in 2008.     "The pact features a high degree of openness," Zhu said, citing phased, free tariffs on more than 90 percent of goods ranging from China's electronic products and machinery to Peru's fish powder and minerals.     Under the deal, both pledged to further open their service sectors and offer national treatment to investors from the other country.     China and Peru also reached agreement on intellectual property, trade rescue, customs procedures and other fields.     The official said the pact would play an important role in helping both nations deal with global financial foes and boosting their own economies.     Trade between the two countries reached 7.5 billion U.S. dollars in 2008, according to Chinese customs authority.     The FTA deal is likely to come into force in early 2010, Zhu said.     Since the beginning of the decade, Beijing has vigorously pursued free trade agreements. So far, China has signed FTA deals with the Association of Southeast Asian Nations (ASEAN), Chile, Pakistan, New Zealand, Singapore and Peru.     China is also in free trade talks with Australia, the Gulf Cooperation Council, Iceland, Norway and Costa Rica, among others.

L'AQUILA, Italy, July 9 (Xinhua) -- Chinese State Councilor Dai Bingguo on Thursday called for concerted efforts to tackle various global challenges at the leaders' meeting of the Group of Eight (G8) and five leading emerging economies (G5).     Dai, who attended the summit on behalf of Chinese President Hu Jintao, delivered a speech entitled "Striving to push forward global economic recovery and enhance regulation of the world economy" to the meeting held in the quake-torn Italian city of L'Aquila, according to a press release issued by the Chinese delegation.     Hu cut short his stay in Italy and skipped the G8 meeting due to the situation in China's Xinjiang Uygur Autonomous Region. He returned to Beijing Wednesday.     In the speech, Dai expounded China's position on major international issues.     Dai called for more international efforts to push for recovery of the world economy, saying that against the backdrop of economic globalization, the macro-economic policies adopted by one country, especially by a major economy, would exert an impact on other economies.     "So when we promulgate a policy aimed at economic recovery, we should not only put into consideration our own interests, but also have to cast eyes on the interests of other countries," Dai said.     The international community should strengthen communication in this regard, he said.     The state councilor said the "primary task" now was to implement the results achieved at the G20 summits in Washington and London, so as to ensure the momentum and effectiveness of economic stimulus packages.     He also urged the international community to abide by the principle of opening markets, opposing protectionism in various forms and safeguarding the normal and orderly movement of goods, services and personnel across borders.     Dai also appealed for an accelerated process of the Doha Round talks of the World Trade Organization, said the press release.     Leaders of the G8 industrialized countries and five leading emerging economies -- India, China, Mexico, Brazil and South Africa -- met on Thursday to discuss economic issues, climate change, trade and other international issues.     On the current international financial crisis, the state councilor said the international community has already reached consensus on reforming the global financial system, but the key lies in the implementation of the consensus.     In the short term, the reform is aimed at stabilizing the international financial market and boosting the growth of real economy, but the reform should be far-sighted, he said.     In the long run, the reform should be aimed at enhancing regulation of the international financial system and safeguarding order of the global financial market, so as to avoid the recurrence of a similar crisis, he added.     The state councilor stressed that representation and voting rights of developing countries should be increased in the International Monetary Fund and the World Bank.     He said developing countries should participate as equal partners in the policy-making process in setting international financial standards and regulation.     Dai also urged the international community to improve global financial supervision, the press release said.     The state councilor appealed for maintaining the stability of major international reserve currencies, but he did not mention the U.S. dollar in his speech.     He urged the international community to improve the international monetary system in a bid to make it diversified and rationalized.     The state councilor also briefed the leaders on China's efforts to tackle the global financial crisis, saying the measures taken by the Chinese government have proven effective.     Noting that the international financial crisis has brought considerable difficulties and challenges to China's economy, Dai said the Chinese government has adopted a series of resolute measures to tackle some thorny issues and these measures have seen initial achievements.     The measures include a proactive fiscal policy and a moderately easy monetary policy, a stimulus package worth 4 trillion yuan (about 587 billion U.S. dollars) designed to expand domestic demand, and a tax-cut package of 500 billion yuan (around 73 billion U.S. dollars), Dai said.     China also has striven to readjust its economic structure, accelerate infrastructure construction, seek balanced development between urban and rural areas, and improve social security system and people's life, Dai said.     Thanks to these measures, China's gross domestic product (GDP) rose 6.1 percent year on year in the first quarter of this year, he added.     According to a press release by the Chinese delegation, in the first five months of this year, on a yearly basis, the fixed-asset investment in urban areas jumped by 32.9 percent in China, the retail sales grew by 15 percent, and the industrial output increased by 6.3 percent.     The state councilor said China would continue to cooperate with the international community to fight the international financial crisis, and would continue to make due contribution to the recovery of world economy.     In his speech, Dai also called for joint efforts from the international community to tackle global challenges such as climate change, food and energy security.     Dai said global challenges such as climate change, food and energy security are common problems facing the whole world, and therefore need joint efforts to cope with.     On climate change, Dai said the international community should continue to insist on the core status of the UN Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol, and abide by the principle of "common but differentiated responsibility" established by the two documents.     The international community should take actions in line with the "Bali Road Map" and take into account different conditions of various countries, so as to push for the success of the upcoming Copenhagen Conference on climate change scheduled for December this year.     On food security, Dai called for increased investment in agriculture, enhanced market monitoring and the establishment of assistance mechanisms.     On energy security, he proposed a series of measures including setting up a system of energy technology research and development, diversifying energy supply, developing new energy and renewable energy, and improving energy efficiency.

BEIJING, May 6 (Xinhua) -- China and Portugal agreed here Wednesday to enhance friendly exchanges and cooperation.     Top Chinese legislator Wu Bangguo and top Chinese political advisor Jia Qinglin met with Portuguese parliament speaker Jaime Gama on Wednesday.     Wu, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, spoke highly of China-Portugal relations and noted that China always conducted its ties with Portugal from a strategic, long-term perspective and is ready to advance their comprehensive strategic partnership. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Jaime Gama, speaker of Portugal's Assembly of the Republic (Parliament), at the Great Hall of the People in Beijing, capital of China, May 6, 2009    He called on the two countries to maintain the momentum of high-level contacts, forge stronger economic and trade ties, intensify personnel exchanges and strengthen consultation and coordination in international organizations.     Gama, who is visiting China from May 5 to May 9 at the invitation of Wu, said that Portugal highly appreciated China's responsible attitude and effective policies adopted in tackling the world financial crisis and expressed the hope of furthering Portugal-China cooperation.     Earlier Wednesday, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, also met with Gama.     Jia said the CPPCC hoped to enhance friendly relations with the Portuguese parliament and play an active role in promoting the development of bilateral relations.     Gama said Portugal is willing to strengthen Portugal-China cooperation and exchanges in the fields of politics, economy, culture and science and technology.Jia Qinglin (R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with Jaime Gama (L Front), speaker of Portugal's Assembly of the Republic (Parliament), at the Great Hall of the People in Beijing, capital of China, May 6, 2009.

BEIJING, June 16 (Xinhua) -- China's political advisors were urged to brainstorm on economic development and offer suggestions as the nation copes with the impact of the global downturn.     Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), a political advisory body, made the call as the standing committee of the 11thCPPCC National Committee kicked off its sixth meeting Tuesday.     Jia said maintaining steady, relatively fast economic development and safeguarding social stability and harmony were the foremost tasks facing the government. He called on the participants to focus their four-day discussions on these themes and make valuable suggestions. The sixth meeting of the Standing Committee of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) opens in Beijing, capital of China, on March 16, 2009. Vice Premier Li Keqiang briefed the meeting on the economic situation and China's economic and social development.     He said with the central authority's decisive coping policies and the concerted efforts nationwide, China's economy was turning for the better.     He nevertheless warned of a "complicated and zigzag" recovery process and difficulties ahead, citing the unpredictable world economy.     Li also called for full implementation of the central authority's deployment in the next step of the economic work, and laid out directions including boosting domestic demand, accelerating industrial restructuring, developing new energy sources, furthering reform and opening up and raising living standards.

BEIJING, July 4 (Xinhua) -- Former Chinese Vice Premier Zeng Peiyan on Saturday called for the whole world to work together to seek reforms in financial supervision, boost economic restructuring and build a green economy.     The present financial crisis has revealed deep-rooted structural imbalance within the traditional economy and developing pattern, and the world should focus on solving such issues in the post-crisis era, he told Xinhua during an exclusive interview at the Global Think Tank Summit.     The international community should jointly improve the global financial supervision system with generally-accepted regulatory standards to monitor and intervene on possible systematic risks as early as possible, Zeng said.     The international currency system should be reformed into a steady, foreseeable and diversified one, and it is necessary to set supervision on the financial stability of nations of major reserve currencies, he told Xinhua.     It would take a long time to carry out the global economic restructuring and solve the imbalances between consumption and savings, he said, adding that such a move needs efforts from both developed countries and developing ones.     Zeng called on developed countries to help developing countries by improving their external environment for economic development, as developing countries have already become the biggest victims of the present crisis.     Zeng also called for more international cooperation in building a green economy, as developing countries need technical and financial support from developed countries to avoid wasting resources and destroying the environment while seeking economic revival.     The summit, which concluded on Saturday, is organized by the China Center for International Economic Exchanges (CCIEE), a non-governmental research and consulting organization created this March, with Zeng as its director.     The three-day summit had attracted over 900 scholars, experts and business leaders from all over the world, including former President of the European Commission Romano Prodi and former Secretary of State of the United States Henry Kissinger

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