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BEIJING, April 13 (Xinhua) -- China's Ministry of Finance (MOF) said Monday that fiscal revenue fell 0.3 percent from a year earlier to 440.22 billion yuan (64.43 billion U.S. dollars) in March.     First-quarter fiscal revenue fell 8.3 percent to 1.46 trillion yuan, the ministry said on its website, while tax revenue shrank 10.3 percent to 1.3 trillion yuan.     Fiscal revenue includes taxes as well as administrative fees and other government income, such as fines and income from government-owned assets.     Business profits shrank as economic growth slowed, the MOF said, and tax cuts intended to spur the economy and the financial markets reduced government revenues. First-quarter business income tax revenue fell 16.7 percent.     China halved the purchase tax on cars with engine displacements of less than 1.6 liters on Jan. 20, and revenue from that tax was down 7.6 percent in the first quarter.     To shore up the stock market, the government cut the share trading stamp tax from 0.3 percent to 0.1 percent last April and scrapped the stamp tax on stock purchases in September. And even though the benchmark Shanghai Composite Index is up more than 35 percent so far this year, the tax cuts on share transactions meant a decline of 86.2 percent in revenue from that category in the first quarter.     Actual revenue amounts in each category were not released.     Customs tariff revenue fell 23.9 percent during the first quarter, the MOF said, without giving further details.     Central government fiscal revenue fell 17.7 percent in the first quarter to 721.3 billion yuan, while local government fiscal revenue rose 3 percent to 742.9 billion yuan.     First-quarter fiscal expenditures surged 34.8 percent to 1.28 trillion yuan, as both the central and local governments adopted a proactive fiscal stance to boost the economy and domestic demand.     China unveiled a 4-trillion-yuan stimulus package in November to be spent over in next two years, with 1.18 trillion yuan from the central government.     Fiscal revenue exceeded 6.13 trillion yuan in 2008, up 19.5 percent.

BEIJING, March 13 (Xinhua) -- The National People's Congress (NPC), China's top legislature, on Friday expressed strong indignation and opposition to a European Parliament resolution on Tibet.     "We are strongly indignant with and opposed to the act that intervenes in China's internal affairs, damages China-Europe relations and hurts the Chinese people's feelings," the NPC Foreign Affairs Committee said in a statement.     Regardless of China's repeated stern representation, the European Parliament, stirred up by a few of its members, insisted on approving a resolution on Tibet, which distorts the facts and again encourages the ** Lama's separatist practice, in an attempt to internationalize the Tibet-related issues," said the statement.     Tibet is an inalienable part of the Chinese territory and Tibetan affairs are purely China's domestic affairs, the statement said, adding that any foreign government and organization does not have the right to intervene in China's internal affairs.     The Tibet Autonomous Region has achieved economic development, national unity and social harmony and people there have been living and working in peace since the democratic reforms 50 years ago, the statement said.     Over the past few years, the Chinese central government has carried out a number of contacts and dialogues with patience and sincerity with the ** Lama's representatives.     However, as the ** Lama has not stopped his separatist activities, no substantial progress was made through the dialogues.     ** Lama's Memorandum on Genuine Autonomy for the Tibetan People, under the veil of claiming autonomy, actually seeks political independence for Tibet and runs against China's Constitution. It will be inevitably opposed by all the Chinese people, the statement said.     The ** Lama claimed that rather than seeking for "Tibet independence ", he only asked for "high degree of autonomy" and "genuine autonomy" and insisted on "nonviolence".     However, ** Lama's so-called "genuine autonomy" aimed to restore his reign in Tibet that integrating religion and state, and establish a supposed "greater Tibet area" which covers nearly a quarter of China's territory. The so-called "greater Tibet area" does not exist in history, nor does it have an actual ground     The claim also asked the Chinese central government to withdraw armies and all the non-Tibetans from the "greater Tibet area". The essence of these claims is advocating "Tibet independence " or meant for "gradual or covert Tibet independence," the statement said.     The ** Lama claimed that he insisted on "nonviolence", but the violent riots in Lhasa staged by the ** Lama's followers on March 14 last year proved that they have never stopped violent activities.     The allegations of the ** Lama were only disguise for his separatist stance and violent criminal activities. They were also packaging to defraud the international society of sympathy and support, the statement said.     "Our disputes with the ** Lama is neither the ethnic issue, nor religious issue, or human rights, but a major principled issue concerning China's sovereignty and territorial integrity, " it said.     The Chinese central government's policy toward the ** Lama is consistent and clear cut, the statement said, adding the door is always open for contacts and talks with him.     The key for positive progresses of contacts and talks rest with whether the ** Lama would give up his wrong stance and separatist behaviors, reexamine his political opinions and make aright choice beneficial to the country, the people, the history and himself.     The statement also said, it is in line with the common interest of China and the Europe to enhance mutual beneficial cooperation on an equal footing.     "A handful European parliament members, who hold prejudice against China, have very readily and repeatedly proposed groundless resolutions on Tibet-related issues," it said.     These resolutions deliberately slandered against China's image, sent wrong signals to the ** Lama's supporters and boost arrogance of the pro-Tibet campaigners.     These European parliament members should be warned sternly to get a clear understanding of the situation and respect the facts. Any conspiracies to interfere in China's internal affairs are doomed to fail, it said.     The NPC values relations with the European parliament and requests the European parliament to proceed from the overall interest of China-EU relations, discard ideological prejudice, adopt a fair and objective stance and do more things that conducive to the healthy development of China-EU comprehensive strategic partnership, said the statement.     Also on Friday, Chinese Foreign Ministry spokesman Ma Zhaoxu urged the European Parliament to confirm to the public opinions, immediately stop interfering in China's internal affairs using the Tibet-related issue and work with China to maintain the overall situation of China-EU relations.

BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy.     The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December.     The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year    The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways.     "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month."     "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth."     The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy.     The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence.     Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans.     Medium and long-term corporate loans made up 32 percent.     "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International.     The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year.     The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating.     That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said.     Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006.     The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year.     "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan.     But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

BEIJING, April 9 (Xinhua) -- Top political advisor Jia Qinglin met visiting Taiwan journalists here Thursday, expecting media to bridge the two sides of the Taiwan Strait.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), urged media on both sides to improve cooperation and exchanges as a bridge between people across the Strait.     Their cooperation will help create a favorable environment for cross-Straits exchanges and encourage people on both sides to work for peaceful development, he said, when meeting with journalists from the Taiwan-based United Daily News (UDN) headed by Duncan Wang, chief executive officer (CEO) of UDN Group.     Jia appreciated the efforts UDN has made to improve relations and promote cooperation across the Strait.     The two sides of the Strait have seen favorable interaction since last year, while the relations headed for a peaceful development, he said. "We hope people on both sides can benefit from the improving ties and the region can remain in peace and stability." Jia Qinglin (5th L, front), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), poses for group photo with journalists from the Taiwan-based United Daily News (UDN) headed by Duncan Wang (4th R, front), chief executive officer (CEO) of UDN Group in Beijing, capital of China, April 9, 2009.Both sides of the Strait should move ahead under the principles of building mutual trust, laying aside disputes, seeking consensus and shelving differences, and creating a win-win situation, he said.     "We can continue cross-Strait talks stage by stage, easy issues and economic topics first, difficult issues and political topics later," he said. "Now we should pay more attention to improving economic cooperation so as to normalize economic relations as early as possible."     Efforts should be made to establish an economic cooperative mechanism that fits the region's reality, he said.     The two sides of the Strait should also promote more exchanges in the cultural and education sectors and improve communications between common people, he added.     The Taiwan journalists were visiting the mainland at the invitation of Xinhua News Agency.

BEIJING, March 22 (Xinhua) -- Chinese Vice Premier Li Keqiang said here Sunday China is confident and capable of achieving its 2009 economic targets and will strengthen cooperation with the international community to fight the global financial crisis.     Despite the financial crisis impact that increased difficulties for economic operations, "the fundamentals of Chinese economy and its good outlook in the long term have not changed," said Li at the opening of the China Development Forum 2009.     China has set an 8-percent target for annual economic expansion this year after diminishing foreign orders dented exports and slowed growth to a seven-year low of 9 percent year-on-year in 2008.     To boost domestic consumption and growth, the government will exert itself to tackle issues of immediate concern to ordinary Chinese citizens such as employment, education, health care, housing and environmental protection, said Li. Chinese Vice Premier Li Keqiang addresses the opening ceremony of the China Development Forum 2009 in Beijing, capital of China, March 22, 2009    The country will speed up the building of a social security system covering both urban and rural residents and gradually perfect the social safety net that guarantees people's basic livelihood, he said. "This helps adjust income distribution and raise people's spending capabilities."     In addition, Li pledged stronger moves in reforming pricing, taxation and financial mechanisms to remove "institutional barriers" on the way of development.     Reform plans must be well-implemented, said Li. They included an 850 billion-yuan (124 billion U.S. dollars) medical reform plan and a comprehensive value-added tax (VAT) reform to cut enterprise and individual burdens by approximately 500 billion yuan this year.     Li also promised to maintain a stable scale of foreign trade and use of foreign capital, saying China will further open up and make use of markets and resources both at home and abroad.     China's foreign direct investment fell for the fifth consecutive month in February to 5.83 billion U.S. dollars, down 15.81 percent year-on-year. Its foreign trade was 124.95 billion U.S. dollars last month, down 24.9 percent year-on-year.     "While managing its own affairs well, China is willing to join hands with other countries and play an active role in international cooperation against the financial crisis," said Li.     The continuous growth of China's economy not only concerns the wellbeing of 1.3 billion Chinese but is also a great contribution to the world economy, he told the forum.     He called on all countries to take actions together to promote future growth of the world economy, saying the crisis should bring about "profound thinking about the world economic development and the human kind's future destiny".     People of insight in all countries should dig the deep roots of the global financial crisis and explore effective ways of preventing the crisis from spreading and avoiding a replay of such crises, said Li.     The China Development Forum 2009 runs in Beijing from Saturday to Monday with the theme of China's Development and Reform in the Global Financial Crisis.