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SINGAPORE, April 25 (Xinhua) -- Singapore's Minister Mentor Lee Kuan Yew met with visiting Chinese State Councilor Liu Yandong here on Saturday.     During the meeting, Liu said that China-Singapore relations have developed rapidly, and cooperations in various fields between the two countries have made great achievements.     She said that the friendly and mutually beneficial cooperations between the two countries have shown great foresight and have been advancing with times.     "The Suzhou Industrial Park has set a successful example for economic and technological cooperations between China and foreign countries. The Tianjin Eco-City, construction of which started last year, unveiled a new chapter for bilateral cooperations in sustainable development and environmental protection fields. The bilateral trade and economy relations have entered a new stage with the China-Singapore Free Trade Agreement coming into effect this year," Liu said.     Liu noted that the all-round development of the China-Singapore relationship is conducive to the two peoples and promoting prosperity and stability in the region.     "Minister Mentor Lee Kuan Yew, who is a key founder of the China-Singapore relationship, has devoted enduring effort for the friendship between the two countries." Liu said.     China highly values its ties with Singapore, and is willing to push bilateral cooperations in all fields and of various levels into a new stage, Liu added.     Lee Kuan Yew said that the strengthening of cooperation between the two countries is beneficial to both countries and their peoples.     Singapore hopes that China will continue to prosper and develop, Lee said, adding that Singapore will join hands with China to boost bilateral relations.     Liu also met on Saturday with officials of the Chinese Embassy in Singapore, and representatives of Chinese students and scholars in the city state.     Liu started the three-day official visit to Singapore on Thursday at the invitation of the Singapore government.     During her stay here, Liu also met with Singapore's Prime Minister Lee Hsien Loong and witnessed the signing of a revised government-to-government Memorandum of Understanding (MOU) on education cooperation between China and Singapore.

SHANGHAI, May 23 (Xinhua) -- Kaohsiung mayor Chen Chu met with her Shanghai counterpart Han Zheng Saturday afternoon during her visit to the mainland.     Chen was to promote the World Games, to be held in Taiwan's port city Kaohsiung from July 16 to 26. Shanghai is the last leg of her promotion tour.     Han expressed his confidence in deepening cooperation between the two port cities.     "With development of cross-straits ties, exchanges between Shanghai and Kaohsiung are more frequent than before," he said. Shanghai Mayor Han Zheng (R) meets with his Kaohsiung counterpart Chen Chu in Shanghai, east China, May 23, 2009Shanghai and Kaohsiung started chartered flight in 2003 and direct chartered flight last year. "It brings our two cities closer," Han said.     Chen thanked Han for the help to her promotion, and expressed her wish for the success of the 2010 World Expo in Shanghai.     She said that she expected more exchanges with Shanghai in tourism development.     Chen Chu arrived in Beijing on Thursday, where she met with mayor Guo Jinlong. She flew to Shanghai Saturday afternoon.

WASHINGTON, April 22 (Xinhua) -- The International Monetary Fund on Wednesday warned that the global economy was in "a severe recession" and the world output is projected to decline 1.3 percent this year, the deepest global recession since the Great Depression in 1930s.     "The global economy is in a severe recession inflicted by a massive financial crisis and acute loss of confidence," said the IMF in its latest World Economic Outlook report. "All corners of the globe are being affected." 　　EPICENTER OF CRISIS     According to the report, the world economy is projected to decline by 1.3 percent in 2009 as a whole and to recover only gradually in 2010, growing by 1.9 percent.     "Achieving this turnaround will depend on stepping up efforts to heal the financial sector, while continuing to support demand with monetary and fiscal easing," said the IMF.     The advanced economies experienced an unprecedented 7.5 percent decline in real GDP during the fourth quarter of 2008, and output is estimated to have continued to fall almost as fast during the first quarter of 2009, according to the report.     Although the U.S. economy may have suffered most from intensified financial strains and the continued fall in the housing sector, western Europe and advanced Asia have been hit hard by the collapse in global trade, as well as by rising financial problems of their own and housing corrections in some national markets.     Emerging economies are suffering badly and contracted 4 percent in the fourth quarter in the aggregate.     The United States, at the center of an intensifying global financial storm, will contract by 2.8 percent this year, said the IMF, adding that "the biggest financial crisis since the Great Depression has pushed the United States into a severe recession."     Meanwhile, the euro zone economy will shrink by 4.2 percent this year and fall a further 0.4 percent in 2010, the IMF said, criticizing the bloc for weak public policy responses and coordination.     In Japan, the IMF expects 2009 output to fall 6.2 percent, far worse than its January forecast for a 2.6 percent decline.     China is expected to slow to about 6.5 percent this year, half the 13 percent growth rate recorded pre-crisis in 2007 but still a strong performance given the global context, according to the IMF.     UNCERTAIN OUTLOOK     The IMF warned the financial crisis remains acute. "The financial market stabilization will take longer than previously envisaged, even with strong efforts by policymakers," it said.     Thus, financial strains in the mature markets are projected to remain heavy until well into 2010, and overall credit to the private sector in the advanced economies is expected to decline in both 2009 and 2010.     Meanwhile, emerging and developing economies are expected to face greatly curtailed access to external financing in both years.     In a semi-annual report Global Financial Stability Report (GFSR), which was released on Monday, the IMF said write-down on U.S.-originated assets to be suffered by all holders will be 2.7 trillion dollars, "largely as a result of the worsening base-case scenario for economic growth."     Total expected write-downs on global exposures are estimated at about 4 trillion dollars, of which two-thirds will fall on banks and the remainder on insurance companies, pension funds, hedge funds, and other intermediaries.     In the latest World Economic Outlook report, the IMF warned that the current outlook is exceptionally uncertain, with risks weighed to the downside.     The crisis has hurt international trade, with volume expected to plunge 11 percent this year before eking out 0.6 percent growth in 2010.     Consumer prices in developed countries were under pressure and would fall 0.2 percent in 2009.     "Even once the crisis is over, there will be a difficult transition period, with output growth appreciably below rates seen in the recent past," said the IMF.     BOLD POLICY     The IMF called for its members to take new bold policy stimulus to jump-start their economies.     "This difficult and uncertain outlook argues for forceful action on both the financial and macroeconomic policy fronts," said the IMF.     Past episodes of financial crisis have shown that delays in tackling the underlying problem mean an even more protracted economic downturn and even greater costs, both in terms of taxpayer money and economic activity.     "Policymakers must be mindful of the cross-border ramifications of policy choices," said the IMF. "Initiatives that support trade and financial partners will help support global demand, with shared benefits."     In advanced economies, scope for easing monetary policy further should be used aggressively to counter deflation risks.     Although policy rates are already near the zero floor in many countries, whatever policy room remains should be used quickly, according to the IMF.     Emerging economies also need to ease monetary conditions to respond to the deteriorating outlook.     However, in many of those economies, the task of central banks is further complicated by the need to sustain external stability in the face of highly fragile financing flows, the IMF warned.     The 185-member organization also warned against the rising protectionism.     "Greater international cooperation is needed to avoid exacerbating cross-border strains," said the IMF. "Coordination and collaboration is particularly important with respect to financial policies to avoid adverse international spillovers from national actions."     "A slide toward trade and financial protectionism would be hugely damaging to all, a clear warning from the experience of 1930s beggar-thy-neighbor policies," it warned.

BEIJING, June 2 (Xinhua) -- China and the United States are ratcheting up efforts to prepare for strategic and economic talks this summer as U.S. Treasury Secretary Timothy Geithner continues his visit to Beijing.     "China-U.S. relations show a good momentum of development as both sides have kept close contacts since the new U.S. administration took office," President Hu Jintao told Geithner at the start of their meeting Tuesday afternoon. Chinese President Hu Jintao (R FRONT) meets with visiting U.S. Treasury Secretary Timothy Geithner (L FRONT) in Beijing, capital of China, June 2, 2009Hu reviewed his first meeting with U.S. President Barack Obama in London in April when both agreed on building a "positive, cooperative and comprehensive relationship for the 21st century" and launching China-U.S. Strategic and Economic Dialogue.     "As both sides agreed to hold the first round of dialogue in Washington D.C. in July, I hope both will work closely, step up preparation so as to make the dialogue a success," Hu said in a statement issued by the Chinese Foreign Ministry.     Hu characterized the dialogue mechanism as "an important platform for both nations to deepen understanding, mutual trust and cooperation."     The strategic track of the dialogue will be chaired by Chinese State Councilor Dai Bingguo and U.S. Secretary of State Hillary Clinton, while the economic track will be chaired by Vice Premier Wang Qishan and Geithner.     "As influential nations in the world, China and the United States share extensive common interests and shoulder important responsibilities in tackling global economic challenges and resolving the world hot-button issues," Hu said.     He said China would like to work with the United States to strengthen dialogues at all levels, expand exchanges and cooperation for fresh progress in bilateral relations in the new era.     Geithner, on first visit to China as Treasury chief, said his visit was "a good start" of building bilateral ties and "looked forward to holding the dialogue in Washington D.C."     He hailed bilateral "capacity to work together in global stage" and said he saw "early signs of stabilization of the economies."     Earlier afternoon, Premier Wen Jiabao also met with Geithner in Zhongnanhai, the central leadership's compound near the Forbidden City in Beijing. Chinese Premier Wen Jiabao (R) meets with visiting U.S. Treasury Secretary Timothy Geithner in Beijing, capital of China, June 2, 2009"The foremost task for both countries is to work more closely to address the global economic downturn, oppose protectionism in trade and investment, promote reform in international financial system, tighten oversight of international reserve currency so as to ensure the stability and growth of China, the United States andthe world," Wen said.     During his three-day visit, Geithner had a flurry of meetings with China's top economic team, including Vice Premier Wang Qishanand chiefs of commerce, finance, banking and securities, among others. Chinese Premier Wen Jiabao (1st R) meets with visiting U.S. Treasury Secretary Timothy Geithner (1st L) in Beijing, capital of China, June 2, 2009In an hour-long meeting with Geithner Monday, Wang said, "The major task of our economic dialogue is to address the global economic slowdown.     "We will send a message that China and the United States are cooperating substantively to get over the difficult times, which will help boost confidence, promote global financial stability and economic recovery," Wang said.     Geithner told Wang, "The world is going through an exceptionally challenging period now and I think the world has a huge stake in our two countries working closely together to lay a foundation for recovery."     On Monday in a speech to students at China's Peking University, Geithner said that China's investments in the United States "are very safe. ... We have the deepest, most liquid financial markets in the world."     Geithner also struck a positive note on the global economy, citing the initial signs of improvement. Visiting U.S. Treasury Secretary Timothy Geithner (2nd R) meets with representatives of eight U.S. clean energy companies with branches in China, at Beijing's Capital Museum, June 2, 2009Earlier Tuesday, Geithner visited Beijing's Capital Museum, which is partly powered by solar energy, generated by panels manufactured by Michigan-based Uni-Solar Company.     Geithner also met with representatives of eight U.S. clean energy companies with branches in China at the museum, pledging to learn from China and other countries to improve energy efficiency.     "The core part of the U.S.-China cooperation will be on the energy part. We expected it to be the central part of the new strategic and economic dialogue we just put in place," Geithner said.     "The world is gonna be watching what we do together as countries in this area, as they are watching us cooperate to help resolve the global recession of financial crisis," he said. Visiting U.S. Treasury Secretary Timothy Geithner (2nd R) meets with representatives of eight U.S. clean energy companies with branches in China, at Beijing's Capital Museum, June 2, 2009.At the end of Geithner's visit, Clinton and Geithner issued a joint statement on the Strategic and Economic Dialogue, saying the first meeting of the dialogue will be held in Washington D.C. "during the last week of July 2009."     They said, "The dialogue will focus on addressing the challenges and opportunities that both countries face on a wide range of bilateral, regional and global areas of immediate and long-term strategic interest."     Geithner left Beijing on Tuesday evening.

BEIJING, April 23 (Xinhua) -- Chinese Premier Wen Jiabao, an avid reader, encouraged citizens to read more and be studious and selective in their reading on World Reading Day, which fell on Thursday.     Wen made the remarks when visiting a branch of the Commercial Press and the National Library in Beijing Thursday.     Books are the crystallization of human wisdom and reading is important in promoting an individual's accomplishments and state of mind, improving citizens' quality and strength, and shaping a country's future, he said when visiting the National Library. Chinese Premier Wen Jiabao (2nd R) views a treasure collected by the National Library in Beijing, capital of China, April 23, 2009. Premier Wen visited the National Library and the Commercial Press on April 23, the World Book and Copyright DayThere's no hope for individuals and the nation if citizens do not read, he said.     When talking to the young people in the library, Wen said people should find time to read.     An individual could at least spare half an hour reading about three to four pages, and hence reading more than one hundred pages in a month and several books in a year, he said.     He said the promotion of reading was significant amid an unprecedented global financial crisis. Overcoming this crisis requires not only material power, but also spiritual power.     He said fundamentally, it needs people, the power of knowledge and scientific and technological revolution to conquer this financial crisis. Chinese Premier Wen Jiabao (2nd R Front) shakes hands with a staff member of the Commercial Press in Beijing, capital of China, April 23, 2009. Premier Wen visited the National Library and the Commercial Press on April 23, the World Book and Copyright Day. Reading warm people's hearts and boost their confidence, he said.     He also advised readers to be selective, choosing books from insightful writers and those that were well-written, as well as those that had stood the test of time.     Books can not change the world, but people change the world by changing themselves through reading, he said.     He said he would love to see every passenger holding a book on hand when riding subways.     "I always believe that knowledge gives people not only strength, but also security and happiness," he said.     When visiting a branch store of the Commercial Press, Wen spoke highly of the role of publication.     Without the publishing sector, culture cannot be inherited, scientific exploration would be halted and the historical records would not exist, he said.     He also urged efforts to publish more classical works.     A good book requires the writers to have rich experience, insightful minds and noble languages, and editors with strong sense of social responsibility and a working style of preciseness, he said.     When talking to the English editors of the press, he said the Chinese publishers should not only take the role of promoting the construction of Chinese civilization, but also help spread the world's civilizations.     Wen is fond of reading and has often quoted Chinese poets and proverbs during press conferences. Chinese Premier Wen Jiabao (C Front) views a treasure collected by the National Library in Beijing, capital of China, April 23, 2009. Premier Wen visited the National Library and the Commercial Press on April 23, the World Book and Copyright Day