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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, Nov. 19 (Xinhua) -- Chinese top legislator, Wu Bangguo, met here Wednesday with visiting speaker of the Slovak National Council, Pavol Paska, calling on the two sides to step up inter-parliamentary cooperation to further boost bilateral relations.     Wu, chairman of the Standing Committee of China's National People's Congress (NPC), China's top legislature, highlighted China-Slovakia relations, noting that the ties already entered into a phase of development.     Citing Slovakia as one of the fastest growing member states in the European Union (EU) and China as the biggest developing country in the world, Wu said that the two share a solid foundation for further cooperation. Wu Bangguo, chairman of the Standing Committee of the National People's Congress(NPC), meets with Pavol Paska, the speaker of the National Council of the Slovak Republic, in the Great Hall of the People in Beijing, China, on Nov. 19, 2008    He added, China is willing to explore new approaches to expand cooperation in an aim to optimize the two-way trade structure and increase mutual understanding between the two businesses.     "We should give full play to the two business communities and help them promote bilateral trade relations to a higher level," Wu said.     Paska said that Slovakia attaches great importance to its ties with China and hopes to learn China's successful ways of boosting national development. It also wants to forge cooperation with China in fields such as infrastructure.     He noted that Slovakia, as a new EU member state, is willing to play a role of bridging the EU-China strategic partnership for further development, reiterating that Slovak parliament and government will continue to cohere to the one-China policy.     The two sides also exchanged their views on inter-parliamentary cooperation, agreeing to push forward collaboration among parliamentary special groups and exchanges of the young parliament members in an effort to generate contribution to the new growth of the bilateral relations.     Paska arrived here Monday for a 5-day visit to China as Wu's guest.

BEIJING, Nov. 25 (Xinhua) -- Chinese Premier Wen Jiabao sent a congratulatory message to a UN meeting in observance of the International Day of Solidarity with the Palestinian People to be held Tuesday at the UN headquarters in New York.     Wen extended warm congratulations to the opening of the meeting in observance of the International Day of Solidarity with the Palestinian People on behalf of the Chinese government.     The Palestinian issue is the core of the Mideast problem. China staunchly supports the restoration of the legal rights of the Palestinian people as well as the Mideast peace process, the message said.     China hopes that Palestine and Israel would stick to the path of peaceful negotiations on the basis of related UN resolutions and the "Land for Peace" principle to establish an independent Palestinian state at an early date, so as to realize peaceful coexistence between the Israeli and Palestinian states, it said.     To resolve the Palestinian issue at an early date is the aspiration of the people in the Mideast as well as the common expectation of the international community, it said.     As a permanent member of the UN Security Council, China will continue to support the United Nations in playing an important role in solving the Mideast problem and pushing forward the settlement of the Palestinian issue, said the message.     The Chinese government will also work with the international community to make unremitting contributions to peace, stability and development in the Mideast, it added.

BEIJING, Jan. 6 (Xinhua) -- Chinese Vice President Xi Jinping urged officials with the Communist Party of China (CPC) to play more important roles when dealing with the international financial crisis.     Xi, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remark during a conference Tuesday.     Xi asked officials to make public promises that they would better implement their duties to Party members and non-party people.     The official also urged Party officials to carry out the central government's policies designed to keep steady economic growth and improve the people's lives using practical measures.

BEIJING, Jan. 7 (Xinhua) -- Chinese Vice Premier Li Keqiang urged more efficient and transparent use of government funds as the country faces rising fiscal expenditures while tackling the global financial crisis.     China should strengthen management and scrutiny of the fiscal budget and should reduce administrative expenses as the country faces relatively high fiscal pressure, Li said at a national fiscal conference on Tuesday.     The government must "firmly oppose extravagance and waste", he said.     China will have "a difficult fiscal year" in 2009 because of lower tax revenues and surging expenditures, Finance Minister Xie Xuren said on Monday.     China's 2008 fiscal revenue is expected to rise 19 percent to exceed 6 trillion yuan (about 857 billion U.S. dollars), said Xie.     That growth was slower than the 32.4-percent annual gain made in 2007.     The country's fiscal revenue increase started to slow down in the second half of 2008, said Xie. He attributed that change to economic deceleration, corporate profit decline and tax cuts made to boost growth.     China decided to carry out an "active fiscal policy" and "a moderately easy monetary policy" in 2009. It has unveiled a four trillion-yuan fiscal package to stimulate domestic demand.