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ZURICH, SWITZERLAND, Feb. 26 (Xinhua) -- A Chinese business delegation inked trade deals worth more than 300 million U.S. dollars with Swiss companies on Thursday, ending the second leg of their four-state procurement tour in Europe. The agreements covered products ranging from software to electric equipments and metals, which meet China's domestic needs, according to Chinese trade officials. Among those agreements, Switzerland's ABB, a global leader in power and automation technologies, signed a letter of intent for the supply of generator circuit breakers to China Nuclear Power Engineering Company. Switzerland's Glencore, one of the world's largest suppliers of a wide range of commodities and raw materials to industrial consumers, also signed a deal with Chinalco, the world's second largest alumina producer and the third largest primary aluminum producer. Holcim, one of the world's leading suppliers of cement and aggregates based in Switzerland, deepened its partnership with China's Huaxin Cement Company (HCC). They signed a frame agreement for technical service, technology and new equipment supplies covering the next two years. Holcim is already the single largest shareholder in HCC, holding a stake of 39.9 percent of the Chinese firm. "HCC with Holcim's support will continue to strengthen and extend its leading role as a modern cement producer in China," the two companies said in a statement. Chinese Commerce Minister Chen Deming (L) shakes hands with Swiss Economy Minister Doris Leuthard, after signing a memorandum on the intensification of technical cooperation in the field of environmental technology, in Zurich, Switzerland, Feb. 26, 2009. Chen and Leuthard attended here on Thursday the Sino-Swiss Economic and Trade Forum with the aim of intensifying relations between Swiss and Chinese companiesChinese Commerce Minister Chen Deming, who led the delegation, said that besides this team, there will be more Chinese business delegations coming to Switzerland for trade and investment opportunities. Swiss Economy Minister Doris Leuthard revealed that a Swiss business group will also go to China within the year. Both ministers witnessed the deal-signing ceremony and opened an economic and trade forum with the aim of intensifying relations between Swiss and Chinese companies. Addressing the forum, Chen said that cooperation is the effective way to tackle the international financial crisis which posed great challenge to world economy. Chinese Commerce Minister Chen Deming (L) and Swiss Economy Minister Doris Leuthard attend a press conference in Zurich, Switzerland, Feb. 26, 2009. Chen and Leuthard attended here on Thursday the Sino-Swiss Economic and Trade Forum with the aim of intensifying relations between Swiss and Chinese companies"Past experience shows that in time of crisis it is all the more important to adhere to a policy of openness and cooperation," he said. "Protectionism will not revive the economy. Rather, it will exacerbate the recession." "This trade and investment promotion delegation to Europe is a clear indication of China's opposition to protectionism and its readiness to work together with Europe in tiding over the crisis," he added. Highlighting China and Switzerland are important economic and trade partners to each other, Chen said the two economies are highly complementary. China is highly competitive in labor-intensive products, such as garments, jewelry, footwear and containers, offering budget choice to Swiss consumers, while Switzerland boasts a distinct competitive edge in watches, medicines, measuring instruments and precision machinery. In 2008, bilateral trade between China and Switzerland reached 11.25 billion U.S. dollars, increasing 19.2 percent despite the economic downturn. China is now Switzerland's second largest trading partner in Asia. Leuthard said that the visit by the Chinese delegation sent a strong signal that China and Switzerland remain committed to open markets and against protectionism. She said the agreements between Swiss and Chinese companies are "good news to our businesses." "They signed contracts which will safeguard jobs and strengthen the cooperation between Swiss and Chinese companies in different fields in our economy," she said. Earlier today, Leuthard and Chen signed a memorandum on the intensification of technical cooperation in the field of environmental technology. "Switzerland and China will cooperate more strongly to ensure that economic growth can be shaped in a more sustainable and environmentally-sound manner," the Swiss government said. To this end, a joint working group is to be established to examine the potential for cooperation in the areas of technology transfer, energy efficiency, renewable energies and the efficient use of resources. The group will submit proposals on the shape of this cooperation. Switzerland is the second stop of the Chinese business delegation's European tour. On Wednesday, they signed 37 procurement deals worth about 11 billion euros (14 billion U.S. dollars) with local firms in Germany. In an interview with Xinhua on Wednesday, Chen expected purchase deals with Switzerland would be modest compared with Germany due to the gap in the two countries' economic scales. The delegation will arrive in Madrid, Spain later today and then London, the last stop. Chen said the deals to be signed there could be a more than in Switzerland.

BEIJING, April 17 (Xinhua) -- Top Chinese political advisor Jia Qinglin Friday called for actively promoting friendly religious exchanges with the outside world on an equal base but firmly stemming foreign infiltration in the name of religion. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks when addressing a seminar on religious work for ministerial and provincial level officials. "The Party and the government have always attached great importance to religious work," said Jia, also member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau. The CPC Central Committee has made "a series of major decisions and arrangements as well as new achievements in religious work, while the country's religious sector has maintained a united and stable situation," he said. Jia, however, warned that officials should pay high attention to some new situations and developments in the country's religious field, along with the developments and changes in international and domestic situation, and deal with them in a proper way. He called for firmly implementing central decisions and arrangements, going all out to safeguard harmony and stability in the religious sector, and making maximal efforts to unite both religious and non-religious people and encourage them to devote themselves to the socialist cause with China's own characteristics. The workshop was organized jointly by the Organizational Department and the United Front Work Department of the CPC Central Committee, the State Administration of Religious Affairs, and the National School of Administration.
BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao Thursday called on the nation to strengthen "conviction for victory" as he unveiled an unprecedented stimulus package to shore up economic growth amid global downturn. In a work report to the National People's Congress (NPC), the country's parliament, Wen said China is facing "unprecedented difficulties and challenges" as economic growth slows, employment pressure mounts and social uncertainties increase in 2009, the most difficult year since the new millennium. PREMIER'S ECONOMICS China's economy cooled to a seven-year low of 9 percent last year, and broke a five-year streak of double-digit expansion, as the global financial crisis took its toll on the world's fastest growing economy. The country, however, is "able to achieve" an economic growth at about 8 percent as long as right policies and appropriate measures are adopted and implemented, Wen said. Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2009In his report, Wen outlined an aggressive stimulus package, including huge government investment, tax reform, industrial restructuring, scientific innovation, social welfare and promoting employment. In addition to a 4-trillion yuan (585.5 billion U.S. dollars) stimulus package that was announced in November, the premier also proposed a budgeted fiscal deficit of 950 billion yuan (139 billion U.S. dollars) for 2009, a record high in six decades and nearly three times over the last record of 319.8 billion yuan set in 2003. The deficit accounted for less than 3 percent of the gross domestic product (GDP), nearly surpassing an internationally accepted risky line. Wen said increasing government spending is the most active, direct and efficient way to expand domestic demand, while economists believe China's 2-trillion U.S. dollar foreign reserves, current-account surplus and budget surplus offers the government lots of room to do so. Other key economic and social targets included creating more than 9 million jobs in the city, controlling urban registered unemployment rate under 4.6 percent and keeping the rise of Consumer Price Index (CPI) at about 4 percent. EXPECTATIONS OF A MIGRANT WORKER AND MORE While nearly 3,000 lawmakers convened at the Great Hall of the People in the center of Beijing, Zhang You, a migrant worker from central Anhui Province who was waiting in his rented room for a job opportunity in the outskirts of the capital, also watched Wen's nationally televised speech, though the Premier's economics might be beyond his imagination. "I didn't quite understand what those figures meant," he said. "But I was impressed by Premier Wen's vow to expand social security for migrant workers and help us find jobs," the 30-year-old man said. "I am happy about that." Zhang, a painter, said he has had no work to do for months. "I guess it's because fewer people are buying houses," he said. China's real estate sector was also hit by the international financial crisis with fewer people buying houses. But Zhang said he believes he will soon be able to find a job. "I feel the government is trying hard to overcome the difficulties. This kind of situation won't last long." "I hope the economy will get better. My whole family is depending on me," said Zhang, one of the 20 million migrant workers who have lost jobs following the financial crisis. In addition to millions of migrant workers seeking jobs in the cities, another 6.1 million college students are due to graduate this year, worsening the country's unemployment woes. Announcing a 42-billion-yuan central government investment to boost job opportunities, Wen said in his report "the government will do everything in its power to stimulate employment." He said the government will make full use of the role of the service sector, labor-intensive industries, small and medium-sized enterprises, and the non-public sector of the economy in creating jobs, he said. Hao Ruyu, vice president of the Capital University of Economics and Business, said to maintain an 8 percent growth rate is "vital" to the Chinese economy and the country's stability. "One percentage point growth could create 800,000 to 1 million jobs," said Hao, vice chairman of the NPC Financial and Economic Affairs Committee. Despite worsening world economy, economists are optimistic about China's economic growth as previous stimulus measures have started to show initial effects. Economist Li Yining told Xinhua that he believes China's economic growth this year could reach 8 percent, or even higher. The Chinese economy is also very likely to recover before other major economies, even though the world economy is still shrouded in uncertainty, said Li, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the nation's top political advisory body. "The economic slowdown is beginning to bottom out, and the economy is bound to rebound on huge government investment," he said. According to a survey of factories issued Monday by the brokerage CLSA, China's manufacturing activity contracted for a seventh consecutive month in February, but at a slower rate than previous months. INVESTMENT FOR A HARMONIOUS SOCIETY While explaining the stimulus plan, Wen said the government will "give top priority to ensuring people's wellbeing and promote social harmony." He said a total of 908 billion yuan of the central government investment this year will go to projects aiming at improving people's life. Those projects covered low-income housing, education, health care, culture, environmental protection, and reconstruction in regions affected by the May 12 earthquake in Sichuan Province. As part of the efforts to shore up domestic demand, Wen said China will increase investment to improve China's social security network, whose low coverage has long been blamed for the country's high saving rate. He said the central government plans to spend 293 billion yuan on the social safety net this year, up 17.6 percent or 43.9 billion yuan over the estimated figure for last year. The money will be used to fund social welfare programs, including pension, medical insurance, unemployment insurance and living allowances to low-income groups. Wen also promised that his government will improve efficiency and continue to combat corruption. "We must discharge our duties with great diligence and, through our actions and achievements, build a government that is for the people and is pragmatic, clean, efficient to satisfy people's needs and win their trust," he said. CHINA IMPETUS LIMITED? As the world's fastest expanding economy, China's policy making has captured international attention since the world was hit by the financial turmoil. Before Wen delivered his report, U.S. stocks broke a five-day losing streak with the Dow Jones industrial average rising 149.82, or 2.2 percent, to 6,875.84 on Wednesday. Some analysts said expectations on China's economic stimulus package might have contributed to the stock jump. But Wang Xiaoguang, a Beijing-based economist, said such an influence is very "limited." Wang said China's stimulus package might help store up some investors' confidence in world economy, but the recovery of the world depends on both China and the United States. China's economic growth could help cushion the blows of world economic downturn, Wang said. "But if the U.S. economy continued to worsen, China alone could not revive the world," he said.
BEIJING, March 30 (Xinhua) -- Aluminum Corporation of China Ltd. (Chalco), reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008, due to product price fluctuations on the international market, the company's annual report revealed Monday. "The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement. The shock from the financial crisis, rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement. Chalco's business turnover reached 76.73 billion yuan, down 9.94 percent from last year, largely because of a decline in product prices, said a statement submitted to the Shanghai Stock Exchange. The price of alumina, a major type of aluminum product, which at one point reached 4,500 yuan per tonne in the domestic market in 2008, dropped to 1,900 yuan per tonne as demand shrank drastically because of the financial crisis, said the statement. Board chairman Luo Jianchuan said the company should actively cope with the problem, which would persist in 2009. Measures should be taken to cut cost, control investment, and maintain stable production. Though estimated to suffer losses in the first quarter this year, Chalco was confident it would "get over the difficulties and have a bright prospect," said Luo. Share prices of Chalco on Shanghai Stock Exchange plunged more than 4 percent to 10.46 yuan Monday morning. Aluminum Corporation of China (Chinalco), Chalco's parent company, had obtained support from four Chinese banks, including the Bank of China (BOC), to finance its bid for the world's third largest miner Rio Tinto. They have signed agreements to provide 21 billion U.S. dollars worth of syndicated loans to support the bid.
来源:资阳报