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BEIJING, Nov. 17 (Xinhua) -- Accelerating reconstruction work is the top priority in quake-affected areas, said Chinese Premier Wen Jiabao during his visit over the weekend to Sichuan Province. He told villagers in Anxian County on Sunday that the government would strengthen support to farmers to help them rebuild their houses within two years, instead of three years as was the original schedule. The construction of public facilities, including schools, kindergartens and hospitals should also be quickened, Wen added. "We can achieve that," he said. When visited students and teachers of the Beichuan Middle School on Saturday. The school has been operating in a temporary shelter. He told students who were injured in the quake, never to give up. "I hope you will be optimistic against all the difficulties," When said. He also listened to a report on the plan to rebuild Beichuan County as it was destroyed by the quake. "The reconstruction work for the new county should be based on advice from experts and the public," When said. He also visited the Sichuan Jiuzhou Electric Group, which has resumed production after the quake, and the Pangang Group Sichuan Chengcheng Special Steel Cooperation. When said reconstruction work should not only rely on government investment. "Private companies should be motivated to invest in post-quake reconstruction projects," he said. It's Wen's sixth visit to the area after the 8.0-magnitude quake stuck on May 12 killing nearly 70,000 people. More than 17,000 are still missing.
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.
ATHENS, Nov. 26 (Xinhua) -- Chinese President Hu Jintao finished the last leg of his five-nation trip here on Wednesday and embarked on his way home. The trip, which began on Nov. 14, took him to a financial summit in Washington and the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima. He also paid state visits to Costa Rica, Cuba, Peru and Greece. At the Washington summit, the Chinese leader outlined China's propositions on responding to the international financial crisis, explained major measures adopted by the Chinese government to ensure financial stability and economic development, and made proposals on reforming the international financial system. At the APEC meeting, President Hu made proposals on furthering Asia-Pacific regional cooperation in dealing with the world financial crisis, the Doha Round of WTO negotiations, food and energy security, and other pressing issues facing the world and the region. During his state visits to Costa Rica, Cuba, Peru and Greece, the Chinese president and leaders of the four nations exchanged views on the further development of bilateral relations and reached broad consensus on expanding friendly and mutually beneficial cooperation. In Lima, Hu and his Peruvian counterpart Alan Garcia announced the conclusion of a bilateral free trade agreement (FTA) and the upgrading of bilateral ties to a strategic partnership.
BERLIN, Jan. 28 (Xinhua) -- Chinese Premier Wen Jiabao arrived in the German capital Berlin late Wednesday for an official visit to the country. The premier is scheduled to meet with German Chancellor Angela Merkel and Vice Chancellor Frank-Walter Steinmeier on Thursday to discuss bilateral relations and further cooperation between the two nations amid the global financial downturn. Upon his arrival, Wen said in a statement that currently Sino-German relations are faced with a sound opportunity of development. The two nations have maintained frequent high-level contacts, and economic and trade cooperation has been expanding steadily, Wen said. Both sides also witnessed fruitful dialogues on such fields as science and technology, education, culture, and youth exchanges, he noted. Bilateral consultation and coordination on international affairs have also been strengthened, he added. The premier expected his meeting with Merkel would further enhance mutual trust and broaden consensus between the two nations. Wen also expressed the belief that his visit will further push forward the Sino-German partnership, which bears a global responsibility. Meanwhile, the premier, on behalf of the Chinese people, extended Chinese lunar new year greetings and good wishes to the German people. During his two-day visit to Germany, Wen will also attend a forum on Sino-German economic and technical cooperation and deliver a speech. Germany is the second leg of Wen's European tour after Switzerland, where he attended the annual meeting of the World Economic Forum (WEF). The trip will also take him to the European Union headquarters, Spain and Britain.
BEIJING, Nov. 19 (Xinhua) -- Chinese shares staged a broad-based rebound on Wednesday, making up the previous day's losses after an overnight rally on Wall Street. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent. The Shenzhen Component Index rose 6.14 percent to 6,679 points. Combined turnover shrank to 120.81 billion yuan (17.26 billion U.S. dollars) from the previous day's 145 billion yuan. Gains outnumbered losses by 865 to eight in Shanghai and 743 to two in Shenzhen. Almost all sectors rose, with more than 200 stocks up by the daily limit of 10 percent. An investor looks at the electronic board in a stock exchange in Shanghai, east China, Nov. 19, 2008. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent The Shanghai index fell more than 6 percent on Tuesday over fears of a spreading global slowdown, exacerbated by profit-taking. Shares rebounded sharply in the afternoon on Wednesday as investors bought up energy and bank stocks, which had fallen heavily on Tuesday. Oil, telecom and banking sectors led the rise. Sinopec rose by 10 percent to 8.37 yuan. PetroChina was up 7.49 percent, closing at 11.91 yuan. China Citic Bank gained 6.51 percent to 4.42 yuan. Telecom shares surged on reports of an imminent approval of 3G licenses. China United Telecommunications rose 10 percent to 6.03 yuan. A Guangfa Securities note said the rebound showed investor confidence had risen after Tuesday's decline. The sharp rises of energy and banking stocks showed institutional investors were optimistic over market prospects.