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BEIJING, Nov. 2 (Xinhua) -- China's economy is in good shape despite the changing economic environment, and it will maintain stable and relatively fast growth, National Bureau of Statistics (NBS) chief Ma Jiantang told Xinhua on Sunday. "The fundamentals of China's economy remain unchanged despite the changing world economic environment," the new NBS director said. "We should be confident about the country's economic outlook." The world's fastest economic growth rate, successful commodity price controls, increasing foreign exchange reserves and good employment rates were the factors to support the economic fundamentals, said Ma. The consumer price index (CPI), the main gauge of inflation, eased to 4.6 percent in September from the same period last year. It hit a 12-year high of 8.7 percent in February. The country's gross domestic product (GDP) grew by 9.9 percent in the first three quarters, 2.3 percentage points down from the same period last year. The slowdown was a result of combined effects, including the global financial crisis, the world economic downturn and severe domestic natural disasters, Ma said. However, he said, "We should be confident about the country's economic outlook." The country had rich resource reserves, great market potential, vigorous enterprises and the government had strong macro-control abilities. The government had made a series of macro-economic policy adjustments against the changing economic environment, which would guarantee a steady and sound economic development, he said.
Wu Bangguo (C), chairman of the Standing Committee of China's National People's Congress (NPC), holds the First plenary session of the sixth session of the 11th NPC Standing Committee at the Great Hall of the People in Beijing, China, on Dec. 22, 2008. BEIJING, Dec. 22 (Xinhua) -- China announced plans Monday to establish a social security number system for the welfare of its citizens. The draft of the social insurance law was discussed by the Standing Committee of the 11th National People's Congress, the country's top legislature, on Monday. The draft said China would establish a standard social security number system across the nation by using each citizen's current identification card number. The social insurance fund will be categorized into endowment insurance, medical insurance, insurance against injury at work, unemployment insurance and childbirth insurance, the draft said. Currently, China's social insurance fund is managed by the Ministry of Human Resources and Social Security and its branches in provinces, municipalities and autonomous regions. According to the country's labor law, the funding of endowment, medical and unemployment insurance is raised by both individuals and their employers. Workplace injury and childbirth insurance have to be paid by employers. A series of social insurance fund embezzlement scandals have been exposed in China since 1998. More than 16 billion yuan (about2.3 billion U.S. dollars) was embezzled. The new social insurance law's draft said any individual or organization has a right to complain or report illegalities about the social insurance fund. The measure is an endeavor to invite more supervision of the citizen's basic security. The draft also determined that a new type of rural medical system, in which farmers and governments raise funds together, would be included in the medical insurance. Governments will cover medical insurance expenses for citizens who live on low-income subsidies, have serious disabilities or are older than 60 years, the draft said.

BEIJING, Dec. 28 (Xinhua) -- China had "unprecedented dynamic interaction" with the rest of the world in 2008, receiving some 180 heads of state or government, Foreign Minister Yang Jiechi said here Sunday. Yang made the remarks when addressing a new year reception in the Diaoyutai State Guesthouse. State Councilor Dai Bingguo and more than 400 foreign diplomats and Chinese officials were also present. Yang said the cooperation between China and the rest of the world was further consolidated and enhanced amid the natural disasters, Beijing Olympics as well as the international financial turmoil. The year 2008 marks the 30th anniversary of China's reform and opening-up. "Great changes have taken place in China and China's diplomacy have reached a new height," Yang said. Chinese State Councillor Dai Bingguo (R) and Foreign Minister Yang Jiechi (C) cheers with a foreign envoy during a New Year reception held by the Minitry of Foreign Affairs of China, in Beijing, capital of China, Dec. 28, 2008. China will remain on the road of peaceful development and adhere to the mutually beneficial strategy in the coming year, making unremitting efforts for the comprehensively sustainable social development and the peace and stability of the world, he said. Nolana Ta Ama, Togolese Ambassador to China, said on behalf of the diplomatic corps in Beijing that the world needs China in the past, at present and in the future. "All ambassadors are hoping to enhance dialogue and cooperation with China," Ta Ama said. "Our task will be completed smoothly, as the country we are in takes not intervening in other countries' internal affairs and not seeking hegemony as the basis of its foreign policy," he said.
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.
BEIJING, Dec. 26 (Xinhua) -- China's top political advisor Jia Qinglin said Friday people in the non-public sector of the economy has become a major force in the reform and open-up drive while urging them to make more contribution to growth as the country faces economic hardship. In a congratulatory letter to a forum held to mark and review the development of private economy in the last 30 years, Jia said the private sector has made important contributions to the country's economic achievements, innovation capabilities, job creation and the "go global" strategy. The chairman of the Chinese People's Political Consultative Conference National Committee called on people in the private sector to respond to the call of the Communist Party of China and unite as one to face the formidable challenge posed by the global financial crisis. Privately-owned enterprises should tap the potential of domestic demand while continuing to implement the "go global" strategy and expand international market, Jia said. Privately-owned enterprises should also assume their social responsibility to create as many jobs as possible while helping the Chinese economy achieve a sound and fast growth, he added.
来源:资阳报