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JINGGANGSHAN, Jiangxi Province, Jan. 25 (Xinhua) -- Chinese President Hu Jintao visited the eastern province of Jiangxi on Saturday and Sunday, calling on revolutionary veterans and model workers ahead of the Lunar New Year, China's most important holiday for family gatherings. It was the sixth year in a row that the president spent the holiday outside Beijing with ordinary citizens. Hu, also general secretary of the Communist Party of China (CPC) Central Committee, visited veterans who had served in the Red Army and people in the city of Jinggangshan. Chinese President Hu Jintao (C) talks with revolutionary veterans, their descendants, and local work models in Jinggangshan City, east China's Jiangxi Province, Jan. 24, 2009, ahead of the Chinese Lunar New Year, China's most important holiday for family gatherings Jinggangshan was a famous revolutionary base where Mao Zedong led the Red Army to fight against his enemies during wartime. During Hu's visit to Huangyangjie, a famous battlefield near Jinggangshan, and a revolution museum in the city, Hu called on local work models, veterans and their descendants, and inquired about their livelihood. He said the veterans fought alongside the CPC and Chairman Mao, and had made outstanding contributions to China's revolution. The work models had also offered remarkable service in building Jinggangshan city, he said. Chinese President Hu Jintao (C) grinds soybean to make bean curd as he visits a farmer named Wu Jianzhong and his family in a village of Xiaping Township, east China's Jiangxi Province, Jan. 25, 2009, ahead of the Chinese Lunar New Year, China's most important holiday for family gatherings "The Party and the Chinese people will never forget your contributions," Hu said. Hu said currently the Party and all ethnic groups in China were striving to maintain a steady and relatively fast economic development and build a well-off society. The country should learn from the Jinggangshan people in dealing with the difficult situation, and turn the current challenges into opportunities for the development of socialism with Chinese characteristics, Hu said. Last year, Hu went to Guangxi Zhuang Autonomous Region which was severely hit by snow storms before the Lunar New Year, and helped with disaster relief work in the city of Guilin and the county of Ziyuan.
BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30. The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent. This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market. The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15. "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary. China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year. The growth rate was 2.3 percentage points lower than the same period of last year, and half a percentage point lower than the first half. "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang. The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say. Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices. China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February. "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted. Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption. "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added. However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important. Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market. China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months. Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown. The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.
BEIJING, Dec. 30 (Xinhua) -- President Hu Jintao, who is also the Chairman of the Central Military Commission, wants Chinese soldiers to adopt core military values. The traditions include loyalty to country and its people, devotion to their career and upholding military glory. Hu made the remarks in a recent meeting with senior military leaders in Beijing. Those values should serve as a strong spiritual force for the soldiers to achieve all-round development and should guide them when implementing their missions, he said. Hu added, soldiers should serve the people wholeheartedly and put people's interests above everything.
CHENGDU, Dec. 29 (Xinhua) -- President Hu Jintao visited quake-hit Sichuan Province over the weekend, showing concern for survivors and inspecting reconstruction work as winter set in. It was Hu's second visit after the May 12 earthquake. Hu's last visit was on May 16, when quake relief work was in a critical phase. The 8.0-magnitude quake, centered in Wenchuan County, left more than 69,000 people dead, 374,000 injured, 18,000 missing and millions homeless. Chinese President Hu Jintao visits students and teachers at Guixi Middle School in Beichuan Qiang Autonomous County, southwest China's Sichuan Province, Dec. 27, 2008. President Hu Jintao visited quake-hit Sichuan Province on Dec. 27-29, showing concern for survivors and inspecting reconstruction work. From Saturday to Monday, Hu visited reconstruction sites, factories, villages, resettlement centers, schools and clinics in battered Mianyang, Deyang, Chengdu and Aba, giving residents and those helping with rebuilding work new year's greetings. In villages and resettlement centers, Hu went into homes and even the kitchens and bedrooms of local people to see if they were warm enough and well-fed. "The most important thing is to make sure all people are housed, have clothes and quilts to resist the cold, have enough food for the winter and coming spring, and medical service and epidemic prevention are in place," he said. At Caijiagang Village, Wenchuan, Hu asked villager Ma Xizhi to be aware of safety problems in using electricity and fire and told local officials to respect farmers' will in building new homes with government subsidies. At Guixi Middle School in Beichuan County, the president encouraged the students to study hard to repay society's concern. Chinese President Hu Jintao (L Front) shakes hands with a woman as he visits residents of the Xingfu Community in Dujiangyan City, southwest China's Sichuan Province, Dec. 28, 2008. President Hu Jintao visited quake-hit Sichuan Province on Dec. 27-29, showing concern for survivors and inspecting reconstruction work. He told workers who were rebuilding the school to ensure the quality of the buildings and make them safe and solid. Hu also inspected the progress of industrial and agricultural reconstruction in the quake areas. At Dongfang Steam Turbine Works, a large state-owned enterprise, he asked about losses and the recovery of production, urging the employees to speed up the reconstruction and develop the facility into a world-class electric equipment manufacturer. Many Dongfang employees were killed in the quake. Hu told the officials to pay visits to victims' families during the upcoming festivals and help them solve problems. The central government has introduced policies to support agricultural recovery, Hu said at a herb production base in Huaxi Village, Dujiangyan. He encouraged growers to make good use of these policies and technology to recover losses from the quake. The president also expressed respect to workers at reconstruction sites. In Hanwang Township, he praised workers for their hard work and encouraged them to live up to the expectations of the quake region and get their jobs done with high quality and efficiency. Chinese President Hu Jintao (R Front) shakes hands with a woman as he visits workers and inspects production at Dongfang Steam Turbine Works in Hanwang Township of Mianzhu City, southwest China's Sichuan Province, Dec. 28, 2008. President Hu Jintao visited quake-hit Sichuan Province on Dec. 27-29, showing concern for survivors and inspecting reconstruction work. With the accelerating reconstruction work, demand for construction materials has grown. Hu visited a supply station in Dujiangyan, urging abundant supply and stable prices to serve local needs. En route to Yingxiu Township, Hu encountered dozens of military vehicles transporting reconstruction material to the quake zone, part of the Chengdu Military District's 1,000-vehicle logistics task force. Hu praised the soldiers for their contribution to the quake relief and reconstruction, asking them to overcome difficulties and finish the job. While in Sichuan, Hu also met with provincial officials, encouraging them to fully implement the central government's reconstruction policies. He told them to put people first, respect nature and seek a balance in speed and quality in rebuilding. The great quake relief spirits formed in China's fight against the tremendous disaster are very precious, he said, urging the promotion of such spirits among officials at a time of difficulty as an inspiration.
BEIJING, Dec. 12 (Xinhua) -- Chinese President Hu Jintao has vowed the Chinese people will, as always, work together with the international community to promote healthy development of the human rights cause in the world. Hu made the remarks in a letter to the China Society for Human Rights Studies on the occasion of the 60th anniversary of the publication of the Universal Declaration of Human Rights. He said China will strengthen international cooperation, as it has always done, in the human rights field to make its due contribution to the building of a harmonious world featuring lasting peace and common prosperity. China, however, will base its human rights development on the basic situation of the country while acknowledging the universal value of human rights, Hu said in the letter. The country will prioritize people's rights to existence and development in its socialist modernization drive and ensure, in accordance with law, the equal rights to participation and development of all society members, Hu said, stressing the principle of "people first". Citing the enshrinement of human rights in the Constitution, Hu said the country has recorded a new chapter of human rights development since the founding of New China and especially since the reform and opening-up 30 years ago, which has been witnessed by the whole world.