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BEIJING, April 2 (Xinhua) -- Chinese Vice Premier Zhang Dejiang Thursday warned the need to find jobs for college graduates was "crucial".     "The employment situation of college graduates remains grave," he told a video conference held by the State Council, the Cabinet.     More than 6 million college students were leaving school in just three months and the employment rate was generally lower than previous years, Zhang said without elaborating.     China has 6.11 million college students due to graduate this year, and 1 million from last year are still looking for jobs, according to the Ministry of Human Resources and Social Security.     Graduates are having a hard time finding jobs this year as posts are being axed due to the economic slowdown.     Zhang urged government organs, government-sponsored institutions, and state-owned enterprises to hire as many people as last year, and small and medium-sized and private companies to employ college graduates.     The State Council unveiled in February a series of measures to boost employment of college graduates, calling on them to be more flexible.     The measures included encouraging graduates to work in rural areas, in grassroots urban communities, and in smaller enterprises, asking research institutions to recruit graduates, and stepping up support for graduates starting up their own businesses.     Zhang asked local government departments to work out detailed and feasible measures and make efforts to publicize the measures this month.     Government departments and higher learning institutions should provide comprehensive services to graduates by offering advice, giving aid to the poor, and maintaining a sound employment market, he said.

BEIJING, March 10 (Xinhua) -- Yi Gang, vice governor of China's central bank, said Tuesday that China still has room to cut interest rates, but such room is "quite limited".     "China still has room to cut interest rates, but not a lot," Yi told Xinhua.     "The room for cuts is quite limited, because a zero interest rate is not the best choice for China at the moment," he said.     The People's Bank of China, the country's central bank, has cut interest rates five times and reduced required reserve ratio for commercial banks four times since last September.     The one-year benchmark deposit rate now stands at 2.25 percent.     Yi pointed out interest rates of China and the United States are actually almost the same.     The 12-month deposit rate in the U.S. stands at around 2 percent, although its key interest rate, or an inter-bank rate, is zero to 0.25, he explained.     The equivalent inter-bank rate in China is at around 0.8 percent, he added.     China's current rate still has room for manoeuvre, Yi said, but if the interest rate falls to zero, there will be no more room for using interest rates to deal with any further world economic downturn.     Su Ning, also vice governor of the central bank, told Xinhua on Monday that China still has plenty of space to manoeuvre in its monetary policy.     Su said the room for further adjustment is "smaller but still exists."     "There's a quite a lot of room for cutting the bank's reserve requirement ratio," he added.

BEIJING, April 14 (Xinhua) -- Chinese President Hu Jintao on Tuesday met with Papua New Guinea's Prime Minister Michael Thomas Somare.In their meeting at the Great Hall of the People in downtown Beijing, Hu said bilateral relations have made significant progress since both countries forged diplomatic ties in 1976, citing frequent high-level visits, deep political trust and fruitful cooperation in all fields.     Hu appreciated Papua New Guinea's unswerving adherence to the one-China policy and support on China's peaceful reunification. Chinese President Hu Jintao (R) shakes hands with Papua New Guinea's Prime Minister Michael Thomas Somare during their meeting in Beijing, capital of China, April 14, 2009.    Hu said Papua New Guinea was an important Pacific island country and played a crucial role in regional affairs.     Hu said his country regarded Papua New Guinea as a good friend and partner in pacific islands.     On the economic front, Hu said both countries were complementary and had a broad prospect for cooperation. He proposed both countries step up mutually-beneficial cooperation in key areas such as trade, agriculture, forestry, fishery, transportation, resources and energy.     Hu said the Chinese government encouraged and supported Chinese businesses to invest and operate in Papua New Guinea.     Somare, who was here for an official visit, said Papua New Guinea cherished its relations with China, which was a sincere and reliable partner.     Somare said his country respected China's sovereignty and territorial integrity and adhered to the one-China policy.     He thanked China for offering generous assistance to his country for many years.     He said his country would like to work more closely with China on trade, energy, resources and construction.     Somare is to visit south China's Hainan Province for the 2009 meeting of the Bo'ao Forum for Asia (BFA) from April 17 to 19.

BEIJING, March 21 (Xinhua) -- China's industry and commerce authorities said Friday that the number of businesses established in China rose only 0.78 percent year-on-year in 2008, much slower than an average of 5 percent growth in recent 5 years.     As of the end of 2008, the number of businesses totaled 9.71 million, up 0.78 percent, or 74,900, over the same period in 2007,the State Administration For Industry and Commerce (SAIC) said.     Private sectors and foreign-funded companies remained stable growth despite the global financial crisis. By the end of 2008, the number of private businesses stood at 6.57 million, up 9 percent, or 543,700.     The number of foreign-funded companies rose 7 percent to 434,900 last year, with total investment exceeding 2.32 trillion U.S. dollars, up 10.21 percent year-on-year.     The total registered capital of all businesses rose 12.42 percent to 43.48 trillion yuan (6.35 trillion U.S. dollars), the SAIC said.     The statistics also showed that more companies had been established in the western and central areas as the country tried to transit more industries to the regions, while the number of companies fell in more-developed eastern region due to the financial crisis.

BEIJING, April 12 (Xinhua) -- The Chinese government's proposals for strengthening cooperation with the Association of Southeast Asian Nations (ASEAN) show that China remains fully confident about the prospects of China-ASEAN cooperation.     During a meeting in Beijing with envoys of the 10 ASEAN countries, Chinese Foreign Minister Yang Jiechi briefed them about the Chinese government's proposals for enhancing China-ASEAN cooperation in an all-round way. Yang has just returned home from Thailand late Saturday where scheduled ASEAN meetings were postponed due to domestic unrest in that country. Chinese Foreign Minister Yang Jiechi (C) meets with envoys of 10 members of the Association of Southeast Asian Nations (ASEAN), in Beijing, capital of China, on April 12, 2009.China's proposals for strengthening its cooperation with ASEAN include the signing of an investment agreement. The agreement, which was scheduled to be signed during the scheduled meetings, would be conducive to the establishment of the China-ASEAN free trade area.     This demonstrates that that the series of relevant measures China has already decided to adopt will remain unchanged and that China has full confidence in the future of China-ASEAN friendly cooperation, despite the postponement of ASEAN meetings.     Strengthening and deepening cooperation is the common wish of the two sides, and is also an important avenue for fighting protectionism and enhancing their ability to resist risks in the current economic circumstances.     As close neighbors, China and ASEAN countries have enjoyed increased cooperation in various areas. In the face of the global financial crisis, it has become the consensus of both sides that they should work together to ride out the present difficulties.     Expanded cooperation between China and ASEAN will help augment their ability to tackle the crisis.     Making joint efforts to push for the signing of an investment agreement displays the determination of both sides to promote trade and investment liberalization, fight protectionism and achieve a win-win result.     Furthermore, the China-ASEAN free trade area, to be completed in 2010, will play an important and profound role in further strengthening China-ASEAN relations and boosting cooperation in the whole of East Asia.     China and ASEAN countries are close and friendly neighbors. The key to continued development of bilateral relations lies in mutual trust, confidence and unremitting efforts.     Only with that can the two sides enjoy solid cooperation and join hands in achieving sustainable development.