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WASHINGTON, Nov. 14 (Xinhua) -- Chinese President Hu Jintao arrived in Washington Friday for a summit to discuss issues concerning financial markets and the global economy.     President Hu, and other leaders from the Group of Twenty (G20) members, have been invited by U.S. President George W. Bush to Saturday's meeting, the first in a series of summits to mitigate what economists predict could be a long and deep downturn.     Later in the evening, the Chinese president is expected to attend a dinner hosted by Bush for all the leaders.     "The leaders will review progress being made to address the current financial crisis, advance a common understanding of its causes, and, in order to avoid a repetition, agree on a common set of principles for reform of the regulatory and institutional regimes for the world's financial sectors," said White House spokeswoman Dana Perino last month in making the announcement of the summit.     At a press briefing last week, Chinese Vice Foreign Minister He Yafei said that China expects to build a fair, inclusive and efficient international financial system.     "We hope to consult with other participants to reform the international financial system and finally try to establish a fair, inclusive and efficient system," He said.     He said that China would take an active part in the summit-related activities in a constructive attitude, work together with all the parties for the achievement of pragmatic outcome, and impel the international community to tackle the financial crisis in a timely, comprehensive and effective manner.     The members of the G20 include Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States, and the European Union.     The managing director of the International Monetary Fund (IMF),the president of the World Bank, the secretary-general of the United Nations and the chairman of the Financial Stability Forum have also been invited to the Washington summit.     Washington is the first leg of President Hu's five-nation trip. He will later pay state visits to Costa Rica, Cuba, Peru and Greece. During his stay in Peru, he will attend the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation(APEC) forum in Lima.

BEIJING, Nov. 26 (Xinhua) -- China's State Council, or the Cabinet, said on Wednesday that more efforts would be made to encourage enterprises to upgrade technology and engage in independent innovation.     It also said there would be policies to promote merger and acquisition among enterprises.     The policies were clinched at an executive meeting of the State Council, presided over by Premier Wen Jiabao. The meeting was held to discuss measures to address difficulties faced by enterprises and promote economic growth and deliberate plans to reform finished oil pricing mechanism and fuel taxes and fees.     According to the meeting, plans would be drawn up to help some key industries, including steel, auto, ship manufacturing, petrochemical, light industry, textile, nonferrous metals, equipment manufacturing and information technology.     The meeting urged banks to increase credit supply to help small and medium enterprises overcome difficulties.     To offset adverse global economic conditions, the State Council on Nov. 9 has announced a 4 trillion yuan (585.7 billion U.S. dollars) stimulus package to boost domestic demand. This will be combined with other boosting measures, such as loosening credit conditions and cutting taxes.     The huge amount of money will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding after several disasters, most notably the May 12 earthquake.     The State Council also discussed the reform plans of finished oil pricing mechanism and fuel tax and fees at the meeting. It decided to make public the two draft reform plans to solicit public advice.     According to the National Development and Reform Commission, the government has been studying a fuel tax to replace the current road tolls imposed upon vehicles.     The long-awaited fuel tax and fee reform was first proposed in 1994.     The State Council meeting also reached decisions to increase the storage of key materials and resources, accelerate development of the service industry and enhance measures to promote employment and social security.     More education and job training would be provided among the government's efforts to increase employment. This education and training should also cover the lay-off workers and rural laborers who returned from cities because of unemployment, according to the meeting.

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. 4 (Xinhua) -- Chinese President Hu Jintao on Sunday spoke over telephone with his U.S. counterpart George W. Bush about bilateral relations and major international issues of common concern.     The two leaders exchanged congratulations on achievements that have been made in the development of bilateral relations since the forging of diplomatic ties between China and the U.S. 30 years ago.     They expressed the hope that a series of events to mark the 30th anniversary of the establishment of diplomatic relations would be successful.     President Hu agreed with Bush's positive remarks on China-U.S. relations and hailed his efforts to develop a constructive and cooperative Sino-U.S. relationship.     In the new historical period of time, China and the United States, through their joint efforts, will surely be able to stay firm in the general direction of the China-U.S. constructive and cooperative relationship and promote sound, stable, all-round and in-depth development of bilateral ties, Hu noted.     Bush, for his part, said China and the United States have engaged in good cooperation over the past 30 years which deserves congratulation.     The U.S. president said he was pleased that he has conducted satisfactory cooperation with President Hu during his presidency.     On the Middle East situation, Hu said China is seriously concerned about escalation of the Palestinian-Israeli conflict and worsening of the volatile situation in the Middle East and is deeply worried about the humanitarian crisis taking place in the Gaza Strip.     China calls on all the parties concerned to stop military operation and armed conflicts, promote the relaxation of tension in the region and create conditions for a solution to the conflict by political means, Hu said.

BEIJING, Oct. 24 (Xinhua) -- The Asia-Europe Meeting (ASEM) summit concluded its first closed session here Friday evening, with the global financial crisis topping the agenda.     Leaders and representatives of the 45 ASEM members attended the meeting which lasted two hours.     Chinese Premier Wen Jiabao chaired the meeting and made the leading speech.     Wen called on Asian and European nations to make concerted effort in response to the global financial crisis triggered by the U.S. credit crunch, according to the Chinese Foreign Ministry.     Wen said the international financial and economic situation is an issue linked up with the direct interests of all ASEM members, and that is why the issue was listed the top subject for discussion.     "Asian and European nations are an important force to safeguard international financial stability and promote world economic growth," Wen said. "We should make concerted effort to show the world our confidence, unity and cooperation," he added.     He said relevant countries and organizations have taken measures in response to the global financial crisis, and China hopes these measures would achieve the desired results soon.     He also called for global action to jointly respond to the crisis.     The leaders present at the meeting had an "enthusiastic and in-depth" discussion on how to tackle the crisis, as well as how to promote Asia-Europe trade and investment, the Foreign Ministry said, giving no further details.     The seventh ASEM summit, scheduled for Friday and Saturday, will all together have four closed sessions.