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BEIJING, Oct. 14 (Xinhua) -- China on Tuesday reaffirmed its resolve to keep its economy on track amid the global financial turmoil.     In a meeting with visiting U.S. Senator Chuck Hagel, Vice Premier Wang Qishan said the financial crisis, triggered by the U.S. credit crunch, had exerted a grave impact on the global financial market. Chinese Vice Premier Wang Qishan(R) shakes hands with visiting U.S. Senator Chuck Hagel in Beijing, capital of China, Oct. 14, 2008 "As a responsible country, China has always valued the communication and cooperation with other nations to ensure world financial and economic stability."     Wang said China would make great efforts to keep its economy on the right track, which would be the country's greatest contribution to the world.     China had implemented and would continue measures to ensure the stability of finance, economy and the capital market, he said, referring to a package of new policies to spur economic growth.     The central bank cut interest rates on Sept. 15 for the first time in six years.     The People's Bank of China, the central bank, announced the deposit and lending rates would be lowered by 0.27 percentage points and the reserve-requirement ratio would be reduced 0.5 percentage points starting Oct. 15.     "With tools at our disposal, we are confident and capable of prevailing over the overall difficulties and challenges," Wang told Hagel.     He added the overall bilateral relations of the two countries had moved forward and become increasingly interdependent since forging diplomatic ties in 1979.     To promote China-U.S. ties was in the fundamental interests of the two nations, he said.     Wang proposed the two deepen a strategic trust and take a candid and pragmatic approach in addressing differences. They should work more closely on economy, trade, investment, energy, environment and high-tech.     He also urged the United States to observe the three joint communiques, refrain from anything harmful to bilateral ties and the stability of the Taiwan Straits, so as to ensure the sound and steady progress of bilateral constructive cooperation.     As all nations were becoming more connected, Hagel, a Republican senator from Nebraska, said the stronger cooperation between the United States and China would help ensure world financial and economic stability.

BEIJING, Oct. 10 (Xinhua) -- A new-generation short haul passenger aircraft solely developed in China has completed a successful trial flight, paving the way for commercial production next year, the manufacturer announced on Friday.     The Xinzhou-600, developed by Xi'an Aircraft Industry Company (XAC) of the China Aviation Industry Corporation I (AVIC I), flew on Thursday in Xi'an, capital of northwest China's Shaanxi Province, said the AVIC I.     The turboprop aircraft was a new version of the Xinzhou-60 that can carry 50 to 60 passengers. The Xinzhou-600 had been updated with a more comfortable cabin and better designed body structure and maintenance system, said Geng Ruguang from the AVIC. A new-generation short haul passenger aircraft solely developed in China has completed a successful trial flight, paving the way for commercial production next year, the manufacturer announced on Friday    It was also designed for inter-island flights, which would helpit in the Southeast Asia and island nation markets, Geng said.     XAC took about three years to develop the Xinzhou-600, which would be delivered to clients from the second half of 2009, he said.     The company has orders for 136 Xinzhou-60s and has exported them to Zambia, the Republic of Congo, Laos, Zimbabwe and Bolivia since 2006.     This would give China the edge to compete in the global market for turboprop aircraft, where demand is expected to reach 1,900 in20 years.     Geng said the company had started to plan the development of the next generation aircraft, the Xinzhou-700.

BEIJING, Sept. 9 (Xinhua) -- "Teaching is the most splendid profession under the sun," said Premier Wen Jiabao on Tuesday, while meeting with elementary and high school teachers at his office in central Beijing, to mark Teachers' Day, which falls on Sept. 10 every year.     Prior to their meeting, Wen showed his visitors around at the former office room of late Premier Zhou Enlai, in the Zhongnanhai compound, where both the Communist Party of China (CPC) Central Committee and the State Council are headquartered. Chinese Premier Wen Jiabao (Front) shows teachers around the Zhongnanhai compound, where both the Central Committee of the Communist Party of China and China's State Council (Cabinet) are headquartered, in central Beijing, China, Sept. 9, 2008. Wen Jiabao on Tuesday invited eight elementary and high school teachers to his office to jointly celebrate the Teachers' Day, which falls on Sept. 10As a beloved State and Party leader for the Chinese people, Zhou has been a banner for all with his lofty character and style, said the premier, who is also a member of the Standing Committee of the CPC Central Committee Political Bureau.     During their talks, the premier asked the guests to give their comments on the proposed long-term outline on the country's educational reform and development.     Tan Guoqiang, principal of the Yingxiu Elementary School in Wenchuan County of Sichuan Province, urged the government to deal with the issues of payment, academic titles and housing for rural teachers.     Wen told Tan that the government will give top priority to rural education and improve the teaching conditions in the countryside by "building schools in the safest places." Chinese Premier Wen Jiabao (C Front) and State Councilor Liu Yandong (1st R Front) pose for a group photo with teachers in the Zhongnanhai compound, where both the Central Committee of the Communist Party of China and China's State Council (Cabinet) are headquartered, in central Beijing, China, Sept. 9, 2008Wenchuan was the epicenter of the deadly May 12 earthquake, which left more than 80,000 dead or missing and millions of homeless, including thousands of young students who died in collapsed school buildings.     Tan is the only one among the eight visitors to come from outside Beijing. The other seven also gave their opinions on a series of issues including the current educational reform, and professional training, compulsory education for schoolchildren of migrant workers from rural areas.     In his speech, the premier urged entrepreneurs to contribute more to the educational sector. "For entrepreneurs, the best way to pay back society is to invest in education," he said, in reply to a proposal by Liu Pengzhi, president of a local high school, who called for multiplying the resources of investment for education. Chinese Premier Wen Jiabao (C Rear) and State Councilor Liu Yandong (2nd R Rear) meet with teachers in Beijing, China, Sept. 9, 2008Wen supported Zhong Zhu, a 33-year old teacher from the No. 35 Middle School of Beijing, in his call for establishing parental schools and increasing awareness about responsibilities, rights and psychological health among students. He urged teachers to love students, students to respect teachers, and society to give priority to education.     "Set students free, and not only allow them more hours to play, as well as give them more time to conduct sporting, thinking, practicing, and understanding society," said the premier.     In his keynote address, Wen called education a "foundation stone" for the nation. China will be built into a first-class country with a first-class education system and first-class talents, he stressed.     Teachers should be far-sighted, patriotic and faithful to their profession, said the premier. He urged teachers to set a good example for students, be more creative so that they can train more creative talents, and make greater efforts to obtain new knowledge to keep pace with the times.     At the end of his speech, Wen showed his profound gratefulness, love and respect for teachers, especially those working in remote, rural and poverty-stricken areas.     After the talks, Wen had a brief lunch with his visitors

BEIJING, April 25 -- The key mainland stock index yesterday soared 9.29 percent, the biggest one-day jump in six years, as investor sentiment was boosted by the government lowering of stamp duty.     The slashing of trading tax from 0.3 percent to 0.1 percent, effective yesterday, was widely seen as another government effort to lift the stock market from the doldrums it has been in for six months.     It followed the introduction of trading rules last Sunday to mitigate the impact of an expected flood of previously non-tradable shares after the lock-in period, which could greatly depress the market. Investors look over information at a stock exchange at a stock trading hall in Beijing, April 24, 2008. Equities trading tax cut, which is widely believed as policy boost by government to stem the recent slump, sends Chinese shares 9.29 percent higher on Thursday, the biggest gain since Oct 23, 2001    The Shanghai Composite Index yesterday surged 304.7 points to close at 3583.03.     In yesterday's trading, gainers outnumbered losers by 853 to 1. The Shenzhen Component index jumped 9.59 percent, or 1130.61 points to close at 12914.76. Total market capitalization swelled 9.2 percent to 22.94 trillion yuan (.3 trillion).     Turnover on the two bourses more than doubled from the day before to 261 billion yuan ( billion), the highest this year.     Analysts said the reduction in the stamp duty and restrictions on the sale of unlocked shares showed that the market has fallen as low as the government would like to see.     "The timing of the stamp duty cut suggests that the 3000 point may be a psychological bottom line for policymakers," said Peng Cheng, an economist at Citi China.     "The government had been patient in waiting until the market correction was more than 50 percent before taking action," Peng added.     Xu Wei, an analyst at Sinolink Securities, estimated that the cut in stamp duty saves investors up to 102 billion yuan (.7 billion) a year.     In addition, "the relatively lower A-share valuation and the more stable performance of overseas stock markets have combined to help investors regain confidence," said Rui Kun, a fund manager at China international Fund Management Co Ltd.     Security companies, especially those focusing on brokerage services, will benefit from the increasingly active trading because of the stamp tax cut, analysts said.     Shanghai-based Haitong Securities, Sinolink Securities and Guoyuan Securities soared to the daily limit of 10 percent.     However, some market insiders said that weak fundamentals and unfavorable China economic growth data are likely to outweigh the positive impact of the government move, and the rebound may not last long.     "It is doubtful that such administrative measures can have a sustained effect on shares when earnings face significant challenges in the periods ahead," said Peng at Citi China.     "The cumulative effect of tightening policies and rising input costs, along with shrinking demand, could cut profits more deeply than what is currently evident," Peng added.