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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, Jan.24 (Xinhua) -- China's top economic planner said Saturday it would raise the minimum state purchasing prices for rice in major rice-producing areas by as much as 16.9 percent this year.     The move was aimed at protecting farmers' interests, keeping grain prices stable and boosting grain output as grain growers had experienced higher costs since last year, according to the National Development and Reform Commission (NDRC).     The state purchasing prices for japonica rice will rise 15.9 percent to 1900 yuan (280 U.S. dollars) per ton this year, according to the NDRC.     In addition, prices for early and late indica rice will be 16.9percent and 16.5 percent higher respectively to 1800 yuan and 1840yuan per ton.     It was the biggest increase in grain purchasing prices since 2004, said Ding Jie, an official with the NDRC's price department.     In 2004, China started the practice of buying grains from farmers at a state-set minimum price when market prices drop below the protective price level in order to encourage grain production.     Saturday's announcement came before Chinese farmers kick off the spring planting season, as the government tried to prevent the grain growers' enthusiasm from being eroded by higher costs of fertilizers and other production materials.     Statistics from the Ministry of Agriculture show December fertilizer prices, except urea, rose more than 20 percent from a year earlier. Diesel for farm use was 5.8 percent higher year-on-year.     The NDRC already hiked the minimum purchasing price for wheat by as much as 15.3 percent starting this year. It raised the purchasing prices for wheat and rice twice last year.     With a population of more than 1.3 billion, China relies mainly on domestic production for food and targets grain output of more than 540 million tons by 2020.     China's grain output rose 5.4 percent year-on-year to a record 528.5 million tons in 2008, official data show.     State-owned enterprises purchased 170 million tons of grains from farmers in 2008, said Nie Zhenbang, director of the State Administration of Grain, earlier this month.     That move, together with higher purchasing prices, resulted in a revenue increase of more than 50 billion yuan (7.4 billion U.S. dollars) for the whole country's farmers, said Nie.

BEIJING, Nov. 19 (Xinhua) -- Tax rebates for China's light industry should be increased to alleviate cost burdens on exporters, the cabinet said here on Wednesday.     China also plans to remove unreasonable administrative fees and charges on industry players, and offer more, said a statement released after the executive meeting of the State Council presided over by Premier Wen Jiabao.     Through the foreign trade development fund, set up by the central government, active assistance will be made to boost exports and help companies' promotion and acquisition efforts in the international market, members said at the meeting.     The tax rebate rate has been raised three times this year in China. The most recent increase came Monday. It covered a list of 3,770 items which account for 27.9 percent of the country's total exports.     Items include labor-intensive, mechanical and electrical products. The rebate takes effect Dec. 1.     The previous two rebates were made in August and at the beginning of this month.     Official data showed that China's October export growth slowed to 19.2 percent from 21.5 percent in September.     "Light industry is China's strong point and its stable and healthy development would be of prime importance," members said while explaining the reason behind the move.     The industry is suffering severely from changes in the domestic and international economic environment in recent months. Concrete measures should be taken to support the industry to weather the difficulties.     China levies value-added tax on most products, but refunds varying amounts of that tax on goods that are exported. The government usually adjusts the size of export tax rebates for different types of goods when it is trying to encourage or discourage growth in particular industries.     Several other policies were passed at the meeting to support the development of the light industry. Financial subsidies were offered to rural residents and people in quake-hit regions and remote areas in China in an effort to boost domestic demand on their products.     More funding would be allocated to support the development of small and medium-sized enterprises, as well as to encourage technical innovations and upgrades in these companies.     The draft of arbitration law on land contract related disputes, which, after revision, would be submitted to the standing committee of the National People's Congress for approval, was also discussed at the meeting. Two revised drafts of ordinances on grassland and forestry fire prevention will be implemented after some changes

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.