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BEIJING, Nov. 2 (Xinhua) -- China's gross domestic product (GDP) growth is expected to slow to 9.4 percent in 2008 from last year's 11.4 percent as the shrinking exports will cool the world's fourth largest economy, according to a Chinese credit rating agency report on Sunday.     The fundamentals of the economy are sound, but falling export orders would take a toll on the national economy in the short term, and domestic consumption needed time to play a bigger role, said the report released by the China Chengxin International Credit Rating Co. (CCXI), a joint venture of China's first rating agency China Chengxin Credit Management Co. Ltd. and U.S.-based Moody's Corporation.     The changing external economic environment and the burst of domestic asset bubbles would exacerbate the slowing economy, said the report.     The proactive fiscal policy was key to preventing the economy from falling and there was room for further cuts in bank reserve requirement ratios and interest rates.     It predicted the economy would gain 8.6 percent in 2009, but it gave no explanation of its forecast.     China's economy grew at 9 percent in the third quarter, the slowest in five years, as the global financial crisis sapped demand for Chinese goods, and domestic industrial production waned in response to weak demand and rising raw material costs.     The government has lowered interest rates three times in the last two months, increased export rebates and cut property transaction taxes to boost domestic consumption.     The report said the world financial crisis would have limited direct impact on the domestic banking system, but it warned Chinese exporters of default risks of foreign buyers.     Insurers and securities companies would be affected as the domestic capital market was growing more connected to the international market.     In September, the Manila-based Asian Development Bank, projected China's GDP growth to fall to 10 percent this year and further ease to 9.5 percent in 2009.     The slow-down was a result of the combined effects of a reduced trade surplus, slower growth in investment, and the global economic downturn, the Asian Development Outlook 2008 Update has said.

BEIJING, Jan. 1 (Xinhua) -- Chinese President Hu Jintao and his U.S. counterpart George W. Bush exchanged congratulatory messages Thursday to mark the 30th anniversary of the establishment of diplomatic relations between their two countries. Chinese President Hu Jintao(R) meets with U.S. President George W. Bush in Lima, capital of Peru, Nov. 21, 2008.    The establishment of diplomatic relations between China and the United States 30 years ago "is a milestone that marked a new chapter in the history of our relations and had a significant and profound impact on the international situation and the world's landscape," Hu said in his congratulatory message.     "For 30 years, thanks to the concerted efforts of generations of Chinese and American leaders and people of vision from all walks of life, we have made historic achievements in growing these relations," the Chinese president said.     "Our two countries have fruitful exchanges and cooperation in a wide range of areas. Our two peoples are increasing mutual understanding and friendship day by day. The strategic significance and global implications of China-U.S. relations have become all the more evident," Hu said.     "These facts have proven that the establishment and development of normal state-to-state relations between China and the United States serves the fundamental interests of our two peoples and go along with the trend of the times. They have not only delivered enormous benefits to our two peoples, but have also greatly contributed to peace, stability and development of Asia and the world at large," Hu said.     The world is now undergoing complex and profound changes, Hu said, adding under the new circumstances and in the face of new opportunities and challenges, China stands ready to work with the United States to build on past achievements, sum up and draw on experience in the development of China-U.S. relations, follow the principles of the three Sino-U.S. joint communiques, and remain committed to the development of a constructive and cooperative relationship.     China is willing to further strengthen dialogue and exchanges with the United States on the basis of mutual respect, equality, mutual benefit and win-win cooperation, enhance mutual trust and cooperation, and continuously expand the basis for cooperation and common interests between the two countries so as "to promote sound, stable and in-depth growth of our constructive and cooperative relationship", Hu said.     In his congratulatory message, President Bush said the decision by the two governments to open formal ties 30 years ago "transcended profound differences in our nations' histories, cultures, and political systems and bridged a seemingly impossible divide."     "The peoples of the United States and China have come to know each other well over the last 30 years. Together, we have built bridges between our two nations in every conceivable field – from commerce and trade to education, science, sports, and the arts," Bush said.     "Over the last eight years, the relationship between our two governments has become more constructive and cooperative, and we have made progress in addressing global challenges such as terrorism, pandemic disease, and the proliferation of nuclear weapons. We have worked as global leaders to promote open markets as the best way to foster economic dynamism and development," he said.     He hoped that over the coming 30 years "our governments will build on this foundation of goodwill and work constructively together to advance the causes of peace, stability, and development."     Bush expressed his confidence that working with common purpose and determination, China and the United States can successfully address global challenges to ensure that "our children inherit a truly better and safer world."

GENEVA, Jan. 23 (Xinhua) -- The World Economic Forum (WEF) is "very proud" that it has managed to maintain "very positive" ties with China, a senior WEF official has said.     "We all know that China is an important factor in the future evolution and development of worldwide economy. So we are all very interested in what China will be doing," said Andre Schneider, managing director and chief operating officer of the Geneva-based organization.     In a recent interview with Xinhua before next week's opening of the 2009 WEF annual meeting, also known as the Davos Forum, in the Swiss Alpine skiing resort Davos.     More than 40 heads of state or government, including Chinese Premier Wen Jiabao, and some 1,400 business leaders, have confirmed their participation at the five-day meeting scheduled to deal with the ongoing financial crisis and other global challenges.     Premier Wen's participation will certainly be "a unique opportunity" for the world to better understand what are the plans of the Chinese leadership to deal with the crisis, Schneider said.     Schneider noted the first two WEF annual meetings of the new champions, dubbed "Summer Davos Forum," were both held in China, in Dalian in 2007 and Tianjin a year later.     The success of the "Summer Davos Forum," a gathering of new multinational companies from China and across the world to explore the mechanisms of continued and sustainable growth, indicated the strong collaboration between the two sides, he said.     The WEF's choice of China as the host of the "Summer Davos Forum" was "an absolutely right one," he said.     Schneider noted that cooperation between the WEF and China started in 1979, when China first sent a delegation to the Davos Forum.     China and its economic growth has been a topic of interest for participants at the Davos Forum in recent years.     In June 2006, the organization opened a representative office in Beijing, which aims to deal with all interactions with China. "It's a clear sign of our deepened collaboration," he said.

KUWAIT CITY, Dec. 29 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang and Kuwaiti Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah agreed to expand economic and energy cooperation between the two countries during their meeting here on Monday.     "China and Kuwait should form a lasting, stable and comprehensive partnership concerning the energy area," Li told the Kuwaiti prime minister, according to a press release from the Chinese Foreign Ministry.     Li said the two sides should deepen cooperation in the energy industries and study ways of joint exploration of both upstream and downstream industries.     He called on both sides to expand cooperation on infrastructure and telecommunication, increase contacts of people, and promote exchanges in the areas of finance, agriculture, science and technology and culture, in a bid to jointly respond to the change of global economic environment.     Li also said China always sees its relations from a strategic perspective with the Gulf Cooperation Council (GCC) and its six members, including Saudi Arabia, the United Arab Emirates, Oman, Qatar, Bahrain and Kuwait.     China is willing to further high level visits, enhance political mutual trust, broaden substantial cooperation and promote peace and stability in the Gulf region, Li said.     Nasser said Kuwait and China have witnessed a strong growth of bilateral trade volume this year, and taken a big step in energy cooperation.     Citing the current global financial crisis, he pledged that Kuwait is ready to further enhance cooperation with China in various fields, adding that Kuwait welcomes Chinese products and enterprises to enter the Kuwaiti market to realize common development.     The Chinese vice premier also visited oil facilities in Kuwait and met with major figures of the oil industry to get a better knowledge of the Gulf Arab state's oil industry and the progress of China-Kuwait energy cooperation.     China and Kuwait renewed their record of bilateral trade volume in 2007 with 3.6 billion U.S. dollars, according to official statistics, a 30-percent growth compared with that of 2006.     China imported 2.3 billion dollars worth of goods from Kuwait in 2007, with 90 percent of oil products, while only exporting 1.3billion dollars of goods to Kuwait.     Li and Nasser also hailed the sound state-to-state relations between China and Kuwait.     Li said relations between China and Kuwait, the first Gulf state to establish diplomatic ties with China, feature "deep friendship between the two peoples, all-along mutual political trust and equal respect."     Expressing his appreciation of Kuwait's support in the issues concerning China's major interests, he said China supports Kuwait's independence, sovereignty and territorial integrity.     Nasser acknowledged that China was also the first big power to recognize the independence of Kuwait.     Nasser said the Kuwaiti people have been always cherishing a friendly affection towards the Chinese people, and will never forget the firm support and help from the Chinese people.     Kuwait is the final leg of Li's 11-day overseas visit, his first foreign visit since he took office as vice premier in March, which has also taken him to Indonesia and Egypt.

BEIJING, Oct. 17 (Xinhua) -- Vice President Xi Jinping expressed the hope to further boost exchanges between the Communist Party of China (CPC) and the French Union for a Popular Movement (UMP) here Friday.     "As ruling parties of respective countries, the CPC and UMP both face the challenges from domestic reform and economic globalization," Xi told Patrick Devedjian, UMP general secretary, during their meeting here. Chinese Vice President Xi Jinping (R) shakes hands with Patrick Devedjian, general secretary of French Union for a Popular Movement (UMP), in Beijing, capital of China, on Oct. 17, 2008."We would like to further enhance exchanges and mutual trust to push forward the healthy and stable development of Sino-French ties," Xi noted.     He said both China and France are influential countries and maintaining a good relationship complied with the fundamental interest of the two and was conducive to peace, stability and prosperity of the world.     China valued the traditional friendship with France, and has always handled bilateral ties from a strategic height and a long-term perspective.     Xi also expressed appreciation for France's support to improving the Sino-EU relations.     Devedjian said China's development would benefit the world, and the UMP would strengthen relations with the CPC and the Chinese government to contribute to the development of China-France relations.