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L'AQUILA, Italy, July 8 (Xinhua) -- Chinese State Councilor Dai Bingguo on Wednesday called for more cooperation among the five leading developing countries (G5) to address international challenges.     Dai listed four aspects for further cooperation and coordination among the G5 when he, on behalf of Chinese President Hu Jintao, addressed the leaders' meeting of China, India, Brazil, South Africa and Mexico on Wednesday afternoon in the earthquake-stricken Italian city of L'Aquila.     According to a press release issued by the Chinese delegation, Dai said the G5 should join hands to cope with the international financial crisis.     Dai proposed that the G5 countries make join efforts to enhance the regulation of global financial system.     he urged the G5 countries to actively address the challenges of climate change and cooperate on addressing non-traditional security threats.     The Chinese state councilor also reiterated the importance of the unity of the G5, calling for continuing cooperation on a wide range of global issues.

RAMALLAH, June 23, (Xinhua) -- With more than 30 years of involvement in the work related to the Middle East issue, China's new special envoy to the Middle East Wu Sike said on Tuesday that he'll employ his personal experience on the region to help fulfill his mission.     Wu arrived in the West Bank city of Ramallah on Tuesday, starting the second leg of his first regional tour as China's new special envoy.     Upon his arrival, Wu told Xinhua that Chinese and Palestinian peoples have a traditional friendship, China has been long supporting the righteous Palestinian cause, with the positive sign emerged recently on the peace issue, China, along with the international community, is concerning on how to revive the peace process and push forward the process toward a final solution.     With this concern, Wu said the aim of his trip is to know the attitude and response of all sides involved in the peace process on the newly emerged situation, lay out China's stance on the issue, and exert efforts to boost the process with all sides in coordination.     Touching upon the issue of the internal Palestinian dispute between factions, mainly the rival Fatah and Hamas, Wu said Palestinian unity is crucial to solve the Middle East issue.     "Hamas is a major Palestinian faction, which enjoys strong public support," said the envoy, adding that, "it'll be important if Hamas can take an positive attitude toward the peace process and involved in it."     Wu said China is willing to see the success of the internal Palestinian dialogue, and is ready to make efforts on helping Palestinians to achieve national unity.     Wu, former Chinese ambassador to Egypt, was appointed as the special envoy in March this year to replace Sun Bigan.     He has been director of the Department of West Asian and North African Affairs of the Foreign Ministry, ambassador to Saudi Arabia and Egypt, and also the first Chinese plenipotentiary to the Arab League.     Citing his three-decade long diplomatic experiences in the region, Wu said that he witnessed both the disasters and losses caused by conflicts and the development, stability and opportunities brought by peace tracks between countries in the region.     "The contrast between the two tracks makes me convinced that military confront could not bring about the resolution of the Middle East issue, and the only way out is through peace negotiations," said the envoy.     Bearing the belief, the envoy said he will discuss both his personal experience and China's stance on the Middle East issue with all sides during his mediation, and actively involve in the peace process to fulfill his mission. 

HEFEI, July 7 (Xinhua) -- Senior Chinese leader Wu Bangguo urges here Tuesday the role of low-carbon economy in the development of east China's Anhui Province.     "As the world is focusing on low-carbon economy, we should seize the opportunity by promoting solar, wind and other reproducible energies, providing endless power for the sustainable development of the country's economy," said Wu, a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, during a visit to Anhui between July 2 and 7. Wu Bangguo (C), a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau and chairman of the Standing Committee of the National People's Congress, visits a plant of Anhui's Conch Group in east China's Anhui Province, July 3, 2009. Wu Bangguo paid a visit to Anhui between July 2 and 7.Wu praised Anhui's Conch Group for growing from a small cement factory to one of the country's largest construction material companies.     "The company has been promoting environmental protection by reducing the consumption of coal and the emission of carbon dioxide, which, in return, brought more profitable opportunities for the company," he said.     In 2007, Conch began to cooperate with foreign groups in making energy-saving equipment. As of the end of May 2009, Hailuo had sold 96 energy-saving power generators to 20 domestic and foreign cement companies. Wu Bangguo (2nd R), a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau and chairman of the Standing Committee of the National People's Congress, visits the research department of Chery Automobile Co., Ltd. in east China's Anhui Province, July 3, 2009. Wu Bangguo paid a visit to Anhui between July 2 and 7.Wu, also chairman of the Standing Committee of the National People's Congress (NPC), or top legislature, also visited the country's leading automobile maker Chery, headquartered in Anhui'scity of Wuhu.     According to sources with Chery, the company is shifting its focus from oil-fueled cars to electric and hybrid-energy vehicles. Under the policy of expanding domestic demand, Chery's sales from January to May achieved a year-on-year rise of 60 percent.     "The global financial crisis has brought both challenges and opportunities. While ensuring the steady and rapid economic development, we should also see clearly ahead and change the pressures from the market into momentum."     Wu especially stressed the development of the north region of Anhui.     Six cities of Fuyang, Bozhou, Huaibei, Huainan, Suzhou and Bengbu are in the north of Anhui. With 46 percent of the province's population, these cities only accounted for 20.4 percent of the province's financial income in 2008.     "The north region of Anhui is the country's important food-producing area and coal energy base. Its development considerably affects Anhui's overall situation," Wu added.

WASHINGTON, April 22 (Xinhua) -- The International Monetary Fund on Wednesday warned that the global economy was in "a severe recession" and the world output is projected to decline 1.3 percent this year, the deepest global recession since the Great Depression in 1930s.     "The global economy is in a severe recession inflicted by a massive financial crisis and acute loss of confidence," said the IMF in its latest World Economic Outlook report. "All corners of the globe are being affected." 　　EPICENTER OF CRISIS     According to the report, the world economy is projected to decline by 1.3 percent in 2009 as a whole and to recover only gradually in 2010, growing by 1.9 percent.     "Achieving this turnaround will depend on stepping up efforts to heal the financial sector, while continuing to support demand with monetary and fiscal easing," said the IMF.     The advanced economies experienced an unprecedented 7.5 percent decline in real GDP during the fourth quarter of 2008, and output is estimated to have continued to fall almost as fast during the first quarter of 2009, according to the report.     Although the U.S. economy may have suffered most from intensified financial strains and the continued fall in the housing sector, western Europe and advanced Asia have been hit hard by the collapse in global trade, as well as by rising financial problems of their own and housing corrections in some national markets.     Emerging economies are suffering badly and contracted 4 percent in the fourth quarter in the aggregate.     The United States, at the center of an intensifying global financial storm, will contract by 2.8 percent this year, said the IMF, adding that "the biggest financial crisis since the Great Depression has pushed the United States into a severe recession."     Meanwhile, the euro zone economy will shrink by 4.2 percent this year and fall a further 0.4 percent in 2010, the IMF said, criticizing the bloc for weak public policy responses and coordination.     In Japan, the IMF expects 2009 output to fall 6.2 percent, far worse than its January forecast for a 2.6 percent decline.     China is expected to slow to about 6.5 percent this year, half the 13 percent growth rate recorded pre-crisis in 2007 but still a strong performance given the global context, according to the IMF.     UNCERTAIN OUTLOOK     The IMF warned the financial crisis remains acute. "The financial market stabilization will take longer than previously envisaged, even with strong efforts by policymakers," it said.     Thus, financial strains in the mature markets are projected to remain heavy until well into 2010, and overall credit to the private sector in the advanced economies is expected to decline in both 2009 and 2010.     Meanwhile, emerging and developing economies are expected to face greatly curtailed access to external financing in both years.     In a semi-annual report Global Financial Stability Report (GFSR), which was released on Monday, the IMF said write-down on U.S.-originated assets to be suffered by all holders will be 2.7 trillion dollars, "largely as a result of the worsening base-case scenario for economic growth."     Total expected write-downs on global exposures are estimated at about 4 trillion dollars, of which two-thirds will fall on banks and the remainder on insurance companies, pension funds, hedge funds, and other intermediaries.     In the latest World Economic Outlook report, the IMF warned that the current outlook is exceptionally uncertain, with risks weighed to the downside.     The crisis has hurt international trade, with volume expected to plunge 11 percent this year before eking out 0.6 percent growth in 2010.     Consumer prices in developed countries were under pressure and would fall 0.2 percent in 2009.     "Even once the crisis is over, there will be a difficult transition period, with output growth appreciably below rates seen in the recent past," said the IMF.     BOLD POLICY     The IMF called for its members to take new bold policy stimulus to jump-start their economies.     "This difficult and uncertain outlook argues for forceful action on both the financial and macroeconomic policy fronts," said the IMF.     Past episodes of financial crisis have shown that delays in tackling the underlying problem mean an even more protracted economic downturn and even greater costs, both in terms of taxpayer money and economic activity.     "Policymakers must be mindful of the cross-border ramifications of policy choices," said the IMF. "Initiatives that support trade and financial partners will help support global demand, with shared benefits."     In advanced economies, scope for easing monetary policy further should be used aggressively to counter deflation risks.     Although policy rates are already near the zero floor in many countries, whatever policy room remains should be used quickly, according to the IMF.     Emerging economies also need to ease monetary conditions to respond to the deteriorating outlook.     However, in many of those economies, the task of central banks is further complicated by the need to sustain external stability in the face of highly fragile financing flows, the IMF warned.     The 185-member organization also warned against the rising protectionism.     "Greater international cooperation is needed to avoid exacerbating cross-border strains," said the IMF. "Coordination and collaboration is particularly important with respect to financial policies to avoid adverse international spillovers from national actions."     "A slide toward trade and financial protectionism would be hugely damaging to all, a clear warning from the experience of 1930s beggar-thy-neighbor policies," it warned.

HEFEI, July 7 (Xinhua) -- Senior Chinese leader Wu Bangguo urges here Tuesday the role of low-carbon economy in the development of east China's Anhui Province.     "As the world is focusing on low-carbon economy, we should seize the opportunity by promoting solar, wind and other reproducible energies, providing endless power for the sustainable development of the country's economy," said Wu, a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, during a visit to Anhui between July 2 and 7. Wu Bangguo (C), a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau and chairman of the Standing Committee of the National People's Congress, visits a plant of Anhui's Conch Group in east China's Anhui Province, July 3, 2009. Wu Bangguo paid a visit to Anhui between July 2 and 7.Wu praised Anhui's Conch Group for growing from a small cement factory to one of the country's largest construction material companies.     "The company has been promoting environmental protection by reducing the consumption of coal and the emission of carbon dioxide, which, in return, brought more profitable opportunities for the company," he said.     In 2007, Conch began to cooperate with foreign groups in making energy-saving equipment. As of the end of May 2009, Hailuo had sold 96 energy-saving power generators to 20 domestic and foreign cement companies. Wu Bangguo (2nd R), a member of the Standing Committee of the Communist Party of China Central Committee Political Bureau and chairman of the Standing Committee of the National People's Congress, visits the research department of Chery Automobile Co., Ltd. in east China's Anhui Province, July 3, 2009. Wu Bangguo paid a visit to Anhui between July 2 and 7.Wu, also chairman of the Standing Committee of the National People's Congress (NPC), or top legislature, also visited the country's leading automobile maker Chery, headquartered in Anhui'scity of Wuhu.     According to sources with Chery, the company is shifting its focus from oil-fueled cars to electric and hybrid-energy vehicles. Under the policy of expanding domestic demand, Chery's sales from January to May achieved a year-on-year rise of 60 percent.     "The global financial crisis has brought both challenges and opportunities. While ensuring the steady and rapid economic development, we should also see clearly ahead and change the pressures from the market into momentum."     Wu especially stressed the development of the north region of Anhui.     Six cities of Fuyang, Bozhou, Huaibei, Huainan, Suzhou and Bengbu are in the north of Anhui. With 46 percent of the province's population, these cities only accounted for 20.4 percent of the province's financial income in 2008.     "The north region of Anhui is the country's important food-producing area and coal energy base. Its development considerably affects Anhui's overall situation," Wu added.