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BEIJING, July 20 (Xinhua) -- Chinese President Hu Jintao called on diplomats to play a bigger role in serving the country's reform and national interests as China is seeking a stable and rapid development amid global economic downturn. "China is at a crucial moment in dealing with the financial crisis and maintaining rapid economic development ... diplomacy must better serve the overall situation of reform, development and stability," said Hu while addressing a national meeting attended by diplomatic envoys, which ended Monday in Beijing. Chinese President Hu Jintao (L Front) meets with the participants of a meeting for Chinese diplomats prior to the meeting in Beijing, capital of China, July 17, 2009. The 11th meeting for Chinese diplomats was held in Beijing on July 17-20.The nine members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including top legislator Wu Bangguo and Premier Wen Jiabao, attended the meeting. "Under the new situation, diplomacy must rely on, serve and promote the development. It should focus on the task of ensuring growth, people's life and stability," He said. Hu urged Chinese envoys to join the global efforts for promoting economic growth, safeguard national sovereignty and security, firmly follow the one-China policy and maintain stability. China will stick to the independent foreign policy of peace, pursue the path of peaceful development and develop friendly cooperation with all the countries in line with the Five Principles of Peaceful Co-existence, Hu said. Chinese Premier Wen Jiabao also addressed the meeting, saying "the recovery of the global economy will be a slow process with twists and turns, there must be a long-term preparedness to effectively deal with (the global downturn)". The global financial crisis has plunged the world into deep recession, and it's difficult to say the global downturn has reached the bottom, Wen said.
BEIJING, Aug. 17 (Xinhua) -- China's top legislator Wu Bangguo met here Monday with Speaker Luka Bebic of the Croatian Assembly, vowing to facilitate closer parliamentary exchanges and cooperation between both countries. "China highly values its relations with Crotia, and regards the country as a reliable good friend and partner in southeast Europe," Wu told Bebic in Beijing. He vowed joint efforts with the country to cement bilateral exchanges in all fields to build better future for both sides. Wu, chairman of the Standing Committee of the National People's Congress (NPC), hailed the progress of bilateral ties since the forging of diplomatic ties 17 years ago, citing frequent high-level visits, remarkable trade cooperation and increasing exchanges in cultural, technological and educational areas. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Croatian Parliament Speaker Luka Bebic in Beijing, capital of China, Aug. 17, 2009. "The parliamentary cooperation between both sides had contributed to the development of an all-round cooperative partnership," Wu said, adding the Chinese NPC is ready to deepen exchanges between special committees and working groups of the two parliaments. In response, Bebic told Wu the Croatian Assembly would like to cooperate closely with the Chinese NPC for greater progress of bilateral all-round cooperative partnership. He expected closer cooperation with China in the areas of trade, tourism and infrastructure construction. Calling China a great friend of Croatia, Bebic said his country believed China had made great contribution to world peace and development by dealing with the global economic downturn in an active way, and maintaining relatively fast economic growth. At Wu's invitation, Bebic arrived in Beijing on Sunday for a week-long tour to China.

BEIJING, Aug. 5 (Xinhua) -- China vowed to deepen its financial system reform and promote more efficient financial intermediation in support of domestic demand, according to a fact sheet released here on Wednesday. To meet the commitment, China would promote interest rate liberalization and consumer finance, said the economic track joint fact sheet of the first U.S.-China Strategic and Economic Dialogue (S&ED). It said China would accelerate the allocation of QFII quotas to billion and continue to allow foreign-invested banks incorporated in China that meet relevant prudential requirements to enjoy the same rights as domestic banks with regard to underwriting bonds in the inter-bank market. China would gradually increase the number of qualified joint-venture securities companies that can participate in A-share brokerage, proprietary trading and investment advisory services subject to the condition of meeting relevant laws and regulations. The country would also support qualified overseas companies to list on Chinese stock exchanges through issuing shares or depository receipts and continuously support qualified Chinese companies to be listed abroad, including in the United States, said the fact sheet. From the U.S. side, the country would pursue comprehensive reform of financial regulation and supervision to create a more stable financial system and to help prevent and contain potential future crises. Regulation and supervision would be strengthened to ensure that all financial firms that pose a significant risk to the financial system will be well regulated, major financial markets will be strong enough to withstand system-wide stress and the failure of large institutions, and the government has the tools it needs to respond rapidly and effectively when problems arise, the fact sheet said. The United States pledged to continue to have strong oversight of the Government Sponsored Enterprises (GSEs). Through Congressional action, the country remained committed to ensuring that the GSEs were able to meet their financial obligations, it said. The country was committed to undertaking a process of exploring the future of the GSEs, including through seeking public input, and the U.S. government resolved to report to Congress and the public by S&ED II. In the joint fact sheet, China and the United States pledged continued close communication and coordination to promote financial stability and would work together to expedite the financial sector reform, to improve financial regulation and supervision, and to promote greater financial market transparency, so as to make their financial sectors more robust. "We recognize the importance of ensuring sound regulation in our own countries and globally," said the fact sheet. The two countries were undertaking IMF Financial System Assessment Programs (FSAPs) and would complete them in a timely manner,it said. Both countries would continue to promote convergence towards a single set of high quality global accounting standards and would continue discussions on financial reporting matters. "The United States and China welcome continued dialogue between the bilateral competent authorities on the oversight of accounting firms providing audit services for public companies in the two countries based on mutual respect for sovereignty and laws," it said. The two countries would also conduct technical exchanges on the development of private pensions, and would share experiences and strengthen cooperation with regard to improvement of insurance regulation. The first S&ED was held in Washington, D.C from July 27 to 28. The mechanism was jointly launched by Chinese President Hu Jintao and US President Obama during their meeting in April in London as a way to show elevation of the importance of China-U.S. cooperation under the new historical circumstances.
CHENGDU, Oct. 16 (Xinhua) -- China's relatively poor western regions are to receive 296 billion yuan (about 43.3 billion U.S. dollars) of investment through 551 projects signed Friday with investors from both China and abroad. Those deals were sealed at the tenth Western China International Economy and Trade Fair in Chengdu, provincial capital of southwest China's Sichuan Province. The region has 12 provinces, autonomous regions and municipalities, with a combined population of about 370 million. Chinese investors contributed 539 of the 551 projects, involving 288.9 billion yuan of investment. The rest 12 projects would be invested by foreign contractors, involving in around 1 billion U.S. dollars of investment. Sectors involving local resources, equipment manufacturing, service and new and high technology were investors' favorite target areas. According to agreements signed here, German industrial conglomerate Siemens would spend 30 million yuan in Chengdu to setup a "Global IT Operation Center", intending to provide better IT operation support for its customers. Meanwhile, Taiwan's Foxconn Group, the world's top maker of outsourced electronics, would invest 1 billion dollars to build an industrial base in Chengdu, setting up production lines for products like LED-TV, LCD module, LED backlight module and LCD package. The new base will also develop software and sell 3C digital products as wells.
BEIJING, Oct. 14 (Xinhua) -- China on Wednesday proposed closer cooperation among members of a regional security group to tackle the world economic recession. "Confronted with the global financial crisis and aiming at a steady economic growth, member states of Shanghai Cooperation Organization (SCO) should work together and seek mutual benefit," Chinese Vice Premier Li Keqiang told a SCO business forum in Beijing. The SCO was founded in 2001 to enhance security cooperation among its six member states, namely, China, Russia, Uzbekistan, Tajikistan, Kyrgyzstan and Kazakhstan. Mongolia, India, Iran and Pakistan are observers to the regional group. Chinese Vice Premier Li Keqiang attends a business forum of Shanghai Cooperation Organization (SCO) in Beijing, capital of China, Oct. 14, 2009 "Despite the world financial crisis, the trade volume between China and some SCO member states has been growing over the past year," Li said. "The crisis didn't shake up the foundation for SCO states' cooperation. Instead, it offered more opportunities for them to work together," Li said, citing the fact that SCO members are complementary in economies and have an increasingly-connected market. Although the total population and territories of SCO member states amounted to a quarter and one fifth of the world's total, their overall economic scale and trade volume made up only the world's 11 percent or 10 percent respectively, Li said. "Thus, there is a huge potential for SCO member states to expand economic and technology cooperation," Li said. He called for SCO member states to carry out the joint actions to deal with the global slump and accelerate the process of trade and investment liberalization. He proposed promoting the projects that involved and benefited multiple parties, building infrastructure networks of transportation, communications and energy. It was necessary to step up cooperation in modern agriculture, emerging industries, high-tech and social welfare so as to benefit the people, Li said. He vowed that China will unswervingly pursue the path of peaceful development, take a more active part in SCO affairs, fully participate in regional economic and regional cooperation in a bid to work for the welfare of 1.5 billion people within the SCO member states. The business forum was an important event under the framework of the eighth SCO prime ministers' meeting, which took place on Wednesday.
来源:资阳报