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 BEIJING, Jan. 4 (Xinhua) -- Major Chinese lenders are expanding a preferential policy on house loan interests to cut the burden of the country's home buyers hit by the spreading financial crisis.     For individuals who bought houses on mortgage lending before Oct. 27, 2008 and have not paid off the loans, their credit interest rates could be reduced to 70 percent of the benchmark rate from the previous 85 percent, customer service staff of several banks told Xinhua on Sunday.     The discount will be available for Beijing, Shanghai and Qingdao clients of the China Construction Bank after their applications go through default record checks.     The Bank of China branch in Shanghai is also providing the preference but the Beijing branch keeps the rate unchanged.     The Industrial and Commercial Bank of China, the country's largest lender, and the Agricultural Bank of China are also making specific rules for similar rate discounts.     China's central bank announced in October it would reduce the lower limit of interest rates on individual house loans to 70 percent of the benchmark credit rate from 85 percent, starting from Oct. 27 last year.     The move was viewed as a stimulus to the flagging property market but it has been unclear whether house mortgage deals before that date can enjoy the favor.     Under the rate discount, home buyers with a 500,000-yuan (73,500 U.S. dollars) bank loan to be paid off within 20 years can save nearly 60,000 yuan of interest, analysts estimate.

BEIJING, Nov. 23 (Xinhua) -- Chinese Premier Wen Jiabao called on domestic companies to pump up confidence in coping with the global financial crisis during his inspection of enterprises in eastern Shanghai and Zhejiang Province from Friday to Sunday.     Wen said buoying up their confidence was "a powerful weapon to deal with the adverse effects of the global economic turbulence and financial turmoil" when inspecting local private enterprises and large-scale companies.     "Enterprises must have confidence for them to stabilize market expectations. Confidence is what they need to tide over the difficult times," he said.     Wen, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, pointed out the private sector played an important role in keeping the stable and relatively fast economic growth momentum, creating more jobs and maintaining the social stability. Chinese Premier Wen Jiabao (C) talks with workers of the Shanghai Waigaoqiao Shipbuilding Co., Ltd. in Shanghai, east China Nov. 22, 2008. Wen Jiabao made an inspection tour of Shanghai Municipality and Zhejiang Province from Nov. 21 to Nov. 23, 2008."Great importance should be laid on the difficulties and challenges private companies face and more supporting policies should be given to them to create a sound environment for their development," he added.     Wen encouraged private companies to adapt to the market changes, make efforts on innovation, establish famous brands with independent intellectual property rights, improve their competitiveness and enhance risk resisting capabilities.     When inspecting Yiwu city in Zhejiang, one of the country's commodities trading centers, Wen encouraged business people to also focus on the domestic market in sync with strengthening their positions on the overseas market.     Wen stressed that large-scale enterprises played a crucial part in the national economy and social development, and great efforts must be put on pushing forward their healthy development.     He encouraged big companies to conduct merge and restructuring, eliminated the outdated production capacity and increase investment on research and development.

LUANDA, Jan. 19 (Xinhua) -- China's eight-measure policy designed to strengthen economic and trade cooperation with Africa has been effectively carried out with remarkable achievements in the past two years, Chinese Minister of Commerce Chen Deming said Monday.     In an exclusive interview with Xinhua, Chen said remarkable achievements have been scored in the two-way economic relations and trade cooperation between China and African since Chinese President Hu Jintao announced the eight-measure African policy at the Beijing Summit of the China-African Cooperation Forum in 2006 in Beijing.     The policy covers China's assistance to Africa, preferential loans and credits, the building of a conference center for the African Union, the canceling of debts, further opening-up of China's markets to Africa, the establishment of trade and economic cooperation zones in Africa, and the training of African professionals.     Since 2007, China has signed bilateral aid accords with 48 African countries and loan agreements with favorable terms with 22African countries, Chen said.     The year 2009 will witness a 200-percent increase in aid accords with African countries in value terms as compared to 2006,the minister said.     Meanwhile, the Chinese government will exempt 168 debts that should be paid by the end of 2005 by 33 African countries, he noted.     To encourage Chinese enterprises to invest in Africa, the Chinese government has established the China-Africa Fund with an initial allocation of 1 billion dollars, Chen said.     By the end of 2008, the China-Africa Fund had invested about 400 million dollars in 20 projects, which brought the total investment in Africa by Chinese enterprises to about 2 billion dollars.     The Chinese side plans to gradually expand the fund to 5 billion dollars, Chen said.     In addition, the construction of economic and trade zones or duty free trade zones in Africa is progressing smoothly, including the Zambia-China Economic and Trade Cooperation Zone, the Guangdong Economic and Trade Cooperation Zone in Nigeria and the Lekky Duty Free Trade Zone in Lagos, Nigeria, the Egypt-Suez Economic and Trade Zone and Ethiopian Orient Industrial Park, the minister said.     The Zambia-China Economic and Trade Cooperation Zone, as China's first trade cooperation zone in Africa, has been initially completed and put into operation, Chen said.     Ten Chinese enterprises with a combined investment of more than700 million dollars have set up plants in the zone located in the Zambian capital of Lusaka, offering some 3,500 jobs for local people, he noted.     Zambian President Rupiah Banda spoke highly of the establishment of the Zambia-China Economic and Trade Zone, as well as China's eight-measure economic policy on Africa. Like the Tanzania-Zambia Railway, the Zambian president said, the zone is a key measure symbolizing the Sino-African friendship in a new era.     To expand imports from the most underdeveloped African countries, China has exempted import tariffs from 31 African countries on farm products, stone materials, minerals, leather and hide, textiles, clothing, electric appliances and machinery and equipment, Chen said.     The African countries have gained a total of 680 million dollars in tariff exemptions during the period from 2006 to October 2008.     China has also cooperated in training African scientists and technical personnel in sectors including agriculture, medical care, social development and education.     Since 2007, China has offered training programs for 10,916 people from 49 African countries. By the end of 2009 China will send 100 advanced-level agrotechnicians to 35 African countries, Chen said.     China plans to establish 14 agricultural technology demonstration centers, all of which will begin construction by the end of this year.     Meanwhile, about half of the hospitals that China pledged to help build in Africa have already finished construction bidding, Chen noted.     The construction of the African Union Conference Center, also a Chinese aid project, began last December and is scheduled to be completed in 2011, he said.     Chen was scheduled to leave Angola for China on Monday, wrapping up a three-nation African trip that also took him to Kenya and Zambia.

BEIJING, Jan. 26 (Xinhua) -- China is to promote the use of energy-efficient and new-energy vehicles in public sector in 13 cities, the Ministry of Finance (MOF) said here Monday.     According to a joint statement by the MOF and the Ministry of Science and Technology, the central government will offer one-off subsidy for the purchase of mixed-power, electric and fuel-cell vehicles.     The statement said the subsidy will be decided by the gap between the prices of energy-efficient vehicles and automobiles powered by traditional fuel.     The program will be put into trial in public transport, taxi industry, postal and urban sanitary services in 13 cities including Beijing and Shanghai.     The program is aimed at facilitating the technology upgrading and structural optimization of the automobile industry, said the statement.     Local governments should also allocate funds for the building and maintenance of related facilities, said the statement.

BEIJING, Nov. 11 (Xinhua) -- Chinese officials led by President Hu Jintao on Tuesday marked the 110th anniversary of the birth of Liu Shaoqi, late President and Communist leader who was prosecuted and died during the Cultural Revolution.     "We are gathered here with deep respect to remember his contribution to the independence and liberation of China, the development of the country and welfare of the people," said Hu at the ceremony.     State leaders Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang,He Guoqiang and Zhou Yongkang attended the ceremony presided over by Premier Wen Jiabao.     Liu worked hard for the cause of Party and people all his life, making great contribution to the revolution and construction of socialism in China, Hu said.     Born in 1898, Liu joined the Communist Party of China (CPC) at the age of 23 and led several important trade union strikes in the1920s.     He marched with the Red Army in the Long March (1934-1936) but, in the middle of it, he was sent to north China that was ruled by then Kuomintang government and led the underground resistance to the Japanese invasion.     In 1945, Liu was elected a member of the CPC Central Committee Political Bureau and a Central Committee secretary.     When the People's Republic of China was founded in 1949, Liu was elected the vice chairman of the central government. He was president from 1959 to 1968 and introduced many pragmatic economic policies.     Liu was removed from all his positions in 1968 during the Cultural Revolution and died in 1969, denounced as a traitor and an enemy agent. In 1980, his reputation was rehabilitated.     "We shall learn from his thoughts, way of working and virtue that would encourage all Party members and people to have confidence and work hard to carry on the cause of revolutionaries of older generations," said Hu.     He urged people to learn from Liu to be loyal to the Party and the people, to always seek truth from facts, to be open to innovation, to be good at applying Marxist principles in China's reality, to be willing to correct mistakes, to put Party and people first and to serve the people heart and soul.     Hu recalled Liu's great and glorious life and praised his achievements, Wen said. "It is of great significance to guide the people to inherit the ideal of older revolutionaries and create a new stage of socialism with Chinese characteristics."