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BEIJING, Feb. 24 (Xinhua) -- Chinese President Hu Jintao has called for greater awareness of both hardships and opportunities presented by the global financial crisis in order to offset the impacts of the crisis.     In a speech to the Communist Party of China (CPC) Central Committee Political Bureau on Tuesday, Hu said China must be prepared for the most difficult and complicated situations in the world economy and meanwhile make good use of or create development opportunities amid the transformation of international and domestic conditions.     The world economic situation was austere and complicated; the global financial crisis had yet to level out; and China's economic growth was under pressure of a slow-down, he said.     He said no fundamental changes had occurred in the country's basic economic development situation, its advantageous conditions for economic development, its accelerating trend of industrialization and urbanization, and the external environment of peace, development and cooperation.     "The strong Party leadership, the advantages of the socialist system, and the united efforts of our people of all ethnic groups are the strength for us to overcome the difficulties and withstand the impacts of the global financial crisis," he said.     The government should maintain the policy of giving top priority to increasing domestic demand while stabilizing external demand, he said.     He called for more powerful and efficient measures to increase domestic demand, consumer demand in particular.     He urged continuing to make the reform and opening-up a powerful driving force for economic growth, actively pushing forward reform in key areas and links.     Hu urged all Party committees and governments to deepen the implementation of the "scientific view of development" and "carry out the decisions and arrangements of the central authorities in a creative way".     Hu, General Secretary of the CPC Central Committee, presided over Tuesday's panel study of the Politburo, at which two scholars explained world economic situation and ways to boost economic growth.     The lecturers were Zhao Jinping, of the State Council's Development Research Center, and Bi Jiyao, of the Macro-economic Research Institute under the National Development and Reform and Commission.

PYONGYANG, April 13 (Xinhua) -- Li Jinhua, vice chairman of the Chinese People's Political Consultative Conference (CPPCC), on Monday met with Kim Wan Su, director of the secretariat of the Central Committee of the Democratic Front for the Reunification of the Fatherland (CCDFRF) of the Democratic People's Republic of Korea (DPRK).     Li, who is heading a CPPCC delegation on a visit to the DPRK, said at the meeting that this year marks the 60th anniversary of the establishment of diplomatic ties between the two countries, and the visit was also one of the major events of the China-DPRK friendship year. Li Jinhua (L), vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with Kim Wan Su, chief of the Secretariat of the Central Committee of the Democratic Front for the Reunification of the Fatherland of the Democratic People's Republic of Korea (DPRK) in Pyongyang, capital of DPRK, April 13, 2009.The visit came just after the end of the first session of the 12th Supreme People's Assembly of the DPRK. On behalf of the CPPCC, Li congratulated on Kim Jong Il's reelection as chairman of the DPRK's National Defense Commission.     Kim Wan Su said DPRK-China friendship has had deep historical groundwork, and the recent years have witnessed further development of DPRK-China friendship.     The CCDFRF would like to further improve exchanges and cooperation with the CPPCC and make greater contributions to the friendship of the two countries, he said.

BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy.     The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December.     The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year    The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways.     "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month."     "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth."     The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy.     The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence.     Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans.     Medium and long-term corporate loans made up 32 percent.     "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International.     The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year.     The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating.     That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said.     Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006.     The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year.     "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan.     But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

BEIJING, Feb. 4 (Xinhua) -- Chinese and overseas reporters are invited to cover the upcoming annual sessions of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC).     The 2nd session of the 11th National People's Congress and the 2nd session of the 11th National Committee of the CPPCC are to be convened on March 5 and March 3 in Beijing respectively, announced the general offices of the NPC Standing Committee and the CPPCC National Committee.     A media center will be opened on Feb. 26 for the two meetings at the Media Center Hotel to serve the needs of journalists, the offices said.     Chinese and resident foreign reporters should submit their applications for reporting passes before March 5 to the media center while foreign reporters temporarily in China for the "two sessions" should apply at Chinese embassies or visa organizations authorized by the Ministry of Foreign Affairs.     The Hong Kong and Macao offices of the China Travel Services are authorized to handle applications from Taiwan reporters.     Reporters from Hong Kong and Macao should apply at the central government's liaison offices in the two special administrative regions.     Two websites were opened Wednesday to help domestic and overseas journalists report the "two sessions" as the country's top-level political events are drawing near.

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