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BEIJING, Nov. 14 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged more efforts be made to accelerate economic restructuring to achieve sustainable development amid concerns of global uncertainties."The global economy is still facing great uncertainties and has not shaken off the deep impact of the financial crisis", Li wrote in an article Xinhua received Sunday, calling for "deep understanding" of the proposal for national development in the next five years.The Communist Party of China (CPC) Central Committee's Proposal on Formulating the 12th Five-year Program (2011-2015) on National Economic and Social Development was issued on Oct. 27 after it was adopted at the Fifth Plenary Session of the 17th CPC Central Committee, which ended Oct. 18.The imbalance of the overall world economic recovery remains and trade protectionism is on the rise, Li wrote in the article while calling for correct understanding of both domestic and international situation.Further, Li warned of the potential damage that will be caused by some governments' excessive debt, noting that some major economies continue their expansionary monetary policies and are pumping enormous liquidity into markets to boost their economic recovery, which may spur turbulence in the global financial market and push up commodity prices.Additionally, the inflow of hot money will affect emerging economies, he said."The world economy is growing slowly and the structure of global demand is changing, which puts new pressure on China in its efforts to stabilize and expand exports and maintain a stable and relatively rapid economic growth," Li wrote.The next five years will be crucial for building a moderately prosperous society in an all-round way, he said."The transformation of the economic development mode brooks no delay, and the key for the transformation is to achieve it at an accelerated speed and with practical effects," he said.Only by transforming the development mode can problems of imbalance and unsustainability be resolved, Li said.The government will work to boost domestic demand, consumption in particular, as a long-term strategy to maintain healthy and stable economic development and transform the economic development pattern, he wrote.It is imperative to keep investment at an "appropriate growth rate" and encourage private investment to expand domestic demand, he said.Efforts should also be made to promote balanced urban-rural development and scientific innovation to upgrade industries.Li said China will also move ahead with "vigorous but steady" political reform while pushing forward economic restructuring.The government will reduce its intervention in economy and let market play the role in resource distribution, Li wrote. He also called for stepping up fiscal and taxation reform and strengthening financial supervision to prevent systematic financial risks.The country will open more fields to the outside and enhance opening up in the inland area, he said.He also called for participation in global economic governance and regional cooperation, speeding up the implementation of free trade zone strategy and opposing trade protectionism, so as to push for the development of a just and rational international economic order.
MACAO, Nov. 13 (Xinhua) -- Chinese Premier Wen Jiabao met with Ho Hau Wah, former chief executive of the Macao Special Administrative Region (SAR), who is now the vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), here on Saturday.Ho became the first chief executive of the Macao SAR in 1999 when China resumed the exercise of sovereignty over Macao, and won the election for a second term in 2004.During the meeting, Wen highly praised Ho's work as the chief executive, who facilitated the successful implementation of the principle of "one country, two system" in the SAR and made his contribution to maintaining Macao's prosperity and stability.Chinese Premier Wen Jiabao (R) meets with Edmund Ho Hau Wah, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, in Macao, south China, Nov. 13, 2010.Wen expected Ho to keep himself concerned on Macao's development and fully support the work of the chief executive and the Macao government.Chui Sai On succeeded Ho as the third-term chief executive on December 20, 2009.Kicking off his two-day visit in Macao Saturday morning, Wen has attended the opening ceremony of the third Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries, and delivered a keynote speech.
BEIJING, Jan. 18 (Xinhua) -- China on Wednesday will begin its annual Spring Festival travel rush, with an expected 2.56 billion passenger trips in the coming 40 days.Airlines and trains have been added to cope with the passenger surge, which is 11.6 percent up year on year, according to the Ministry of Transport.The airport in Harbin, capital of northeast China's Heilongjiang Province, announced Tuesday it would add another 252 flights for the travel peak period.The capacity of airlines in the Inner Mongolia Autonomous Region will be raised 30 percent.In southwest China's Chongqing Municipality, a major hometown to migrant workers, 12 flights with 5,100 seats will be added between Chongqing and Guangzhou, capital of south China's Guangdong Province.Except for the temporary trains, more high-speed trains have been put into operation for the Spring Festival.The high-speed train will be increased to 88 pairs this year, 55 more than last year's 33 pairs in Wuhan, capital of central China's Hubei Province, which largely eased the difficulties of buying tickets for passengers.Snow and sleet has struck five provincial level regions, including Hunan, Guangxi, Chongqing, Guizhou and Yunnan since Monday, disrupting transportation networks.The Ministry of Public Security Tuesday ordered police in the five hard-hit areas to go all out to keep traffic flowing and make sure no expressways were shut down due to slippery roads.Police in the five localities were ordered to clean snow and ice on the roads and store emergency response materials, such as snow blowers, and maintain control of the flow of vehicles heading to the hardest-hit Guizhou province."Snow and ice will bring great difficulties to transportation," said Weng Mengyong, vice minister of the Ministry of Transport (MOT).Five aspects of work, including anti-ice preparation, information release, monitoring network, emergency reaction and cooperation with public security bureaus, had been arranged ahead of the travel peak, Weng said.In early 2008, freezing weather across southern China caused power cuts and transportation chaos, preventing many residents from going home for family reunions during China's lunar new year.Other new services are also being supplied as the pressure of transportation is increasing this year.The Wuhan Railway Administration started ticket delivery services for migrant workers this year and about 3 million tickets will be delivered.In south China's Guangxi Zhuang Autonomous Region, the Nanjing Railway Administration opened micro-blogs on Sina.com and QQ.com to offer railway transportation information.In the next 40 days, not only passengers, but also railway crews, will face great challenges."Patrolling is like a sauna to me," said railway police Zhao Hongye in Lanzhou, capital of northwest China's Gansu Province."It is too crowded. The 18 carriages are only 450 meters long, but it takes me at least two hours to go though," Zhao said."It is the homesickness which makes the huge migration," said Li Jiwei, a college student in Lanzhou, who had been counting the hours to get on his train home."It's only 10 hours left," he said. "I cannot wait to go home. The warm of home can offset all the difficulties on the journey," he said."There is no Spring Festival if you are not at home," said Zhou Changnong, a migrant worker, heading from Xining, capital of southwest China's Qinghai Province, to his home town in central China's Hunan Province.
SHANGHAI, Nov. 11 (Xinhua) -- The first annual development report for east China's metropolis Shanghai was released Thursday, pointing out new strategies to build the city into an international economic, financial, trading and shipping center by 2020.The Development Report on Shanghai International Economic, Financial, Trading and Shipping Center was released by the municipal Development and Reform Commission and the municipal Development and Reform Institute.The report reviews the efforts and progress in building Shanghai on four fronts and makes proposals for future development.Shanghai set the goal of becoming the center in the four areas in 2009.At the ceremony marking the release of the report, scholars gathered to discuss Shanghai's development.In terms of becoming an international economic center, Jiang Yingshi, president of the Shanghai Society of Macroeconomics, said that Shanghai should draw on the World Expo effect to enhance its service-oriented economy, regional integration, and cultural development.To become an international financial center, Xiao Lin, deputy chief of the municipal Development and Reform Commission, said that the key task in the next decade is for Shanghai to become the RMB products trading and investment hub with world class financial services.In terms of becoming an international trading center, Yuan Zhigang, economics professor at Fudan University, said that efforts should be made to develop high end products and build Shanghai into a shopping paradise.In terms of becoming an international shipping center, scholars pointed out the importance of a modern shipping service system.The development report will be released every year starting in 2010 to keep track of each breakthrough along the way, said Xiao Lin.
BEIJING, Jan. 15 (Xinhua) -- China should steadily promote the internationalization of its currency, the yuan, the head of China's social security fund said Saturday.The internationalization of the yuan is a significant step for advancing the reform of the international monetary system, Dai Xianglong, chairman of China's National Council for Social Security Funds, said when speaking at annual economic forum in Beijing.The current international monetary system has not adapted to the new patterns of global economic development, he said, adding that currency diversification is a realistic solution.Currency diversification means continuing the role of dollar, increasing the role of the euro and internationalizing other currencies, he said.The U.S. dollar, serving as both the U.S. currency and the most important international currency, will be used for U.S. policy goals when the two roles contradict each other, spurring fluctuations in global financial markets, he said, adding that the dollar has a tendency to depreciate.He said the Chinese yuan is a stable currency, and so ensures the safety of other countries' assets.The Chinese currency also enhances world trade, protecting the interests of China's foreign trade and investment, he added.The internationalization of the yuan will take 15 to 20 years, he said, suggesting an expansion of the overseas circulation of the yuan and an acceleration in the opening-up of China's large commercial banks to speed up the process.He urged Chinese banks in foreign countries to offer funding in yuan.He also called for more efforts to reform the interest rate mechanism, to ease the process of the internationalization of the yuan.