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BEIJING, Aug. 24 (Xinhua) -- Chinese President Hu Jintao on Sunday held a banquet at the Diaoyutai State Guesthouse in west Beijing to welcome foreign leaders and international dignitaries who will attend the Olympic Games closing ceremony in the evening.     Hu said in a toast that the Beijing Olympic Games have promoted the Olympic spirit of solidarity, friendship and peace.     "The success of the Beijing Olympic Games is attributable to the concerted efforts of the Chinese people and people from the rest of the world," said Hu. Chinese President Hu Jintao (C) talks with King Carl XVI Gustaf of Sweden (2nd L) prior to a banquet at the Diaoyutai State Guesthouse in Beijing, China, Aug. 24, 2008. Chinese President Hu Jintao held a banquet Sunday to welcome foreign leaders and international dignitaries who will attend the Olympic Games closing ceremony in the evening"The glory goes to the Olympic Family, to athletes who have competed hard, to volunteers from different parts of the world and to friends the world over who have been involved in the Beijing Olympic Games in various ways," Hu said.     Calling the past 16 days "a wonderful and exciting time together," the Chinese leader said that the hosting of the Beijing Olympics will give a boost to the further development of sports in China, promote more extensive exchanges and cooperation between China and the International Olympic Family, and further enhance the mutual understanding and friendship between the Chinese people and people of all other countries.     The Beijing Olympic Games have become "a grand event of international sports competition and cultural exchanges" witnessed and joined by people of the whole world, said Hu.     Since the opening of the Beijing Games, friends from all parts of the world have come together in the Chinese capital to experience the charm of the International Olympic Movement, said the president.     "The Chinese people have greeted all the guests with great enthusiasm and shared with people from across the world the joy and happiness," he added.     He expressed sincere thanks to the International Olympic Committee (IOC) and the Olympic Family for their support and assistance, and extended heartfelt congratulations to the athletes from various countries and regions on their outstanding performances at the Beijing Games.     The president also pledged that China would work hard to guarantee the success of the Paralympic Games, scheduled to open in Beijing in early September.     "With the goal of 'Two Games, Equal Splendor,' we will deliver a high-standard Paralympic Games with distinctive features and continue to contribute our part to the development of the International Olympic Movement," he said.     He expressed the confidence that through the concerted efforts of people all over the world, the Olympic spirit will be carried forward and mankind will enjoy an even better future.     "We all look forward to the reunion in London in four years' time!" he told the guests.     Among the guests were IOC President Jacques Rogge and Honorary President Juan Antonio Samaranch, as well as leaders and dignitaries from more than 20 countries and regions.

BEIJING  -- The Industrial and Commercial Bank of China (ICBC) is forecasting an 8 percent increase in the country's Consumer Price Index (CPI) for the first quarter of 2008. The official government figures come out in mid-April.The bank said in a report issued on Thursday that the CPI would hit 8.2 percent in March, slightly down from the previous month as the effects from the snow chaos that hit China earlier this year died away.Inflation in China took its biggest jump in nearly 12 years in February when it rose 8.7 percent compared to the same period a year earlier. Food prices surged 23.3 percent while non-food prices edged up 1.6 percent from the year earlier period.Inflation was mainly fueled by rising food and energy prices in the global market, and compounded by domestic factors that included increased costs and a strong demand, the report said.The new round of global grain price rises, including rice and wheat, might add more pressure to the government's anti-inflation efforts.However, the inflation index would start decelerating in the second half of 2008 as the government's macro controls took effect. The continued global slowdown also weighed on demand and could gradually pull down prices, the report said.China rolled out a series of measures to fight inflation after the government was reshuffled last month. Among the latest moves was an increase in farm subsidies to boost production and curb grain price hikes.

BEIJING, Aug. 10 (Xinhua) -- China is ready to work together with the United States to forge ahead bilateral relations of constructive cooperation along the right track and in a sustained, healthy and stable manner, President Hu Jintao said here on Sunday.During a meeting with his U.S. counterpart George W. Bush in the central government compound of Zhongnanhai, Hu said the Chinese side has always viewed and handled its relations with the United States from a long-term and strategic perspective.     Hu said China is willing to work with the U.S. side to promote dialogue and exchanges, enhance understanding and mutual trust, respect and care for each other's interest and concerns, and settle sensitive issues properly to ensure bilateral relations go along the right track and in a sustained, healthy and stable manner.Chinese President Hu Jintao (R) shakes hands with U.S. President George W. Bush at Zhongnanhai, compound of China's central authorities, in Beijing, China, Aug. 10, 2008.     China-U.S. relations have maintained a good momentum, and face opportunities for further development, Hu said.    The Chinese president cited frequent exchanges between the two countries at all levels, a better mechanism of dialogue and consultation in diverse areas, and fruitful consultation and coordination on major international and regional issues, such as the Korea Peninsula nuclear issue, the Iran nuclear issue and the Darfur issue.    Hu spoke highly of Bush's contribution in promoting bilateral relations, and said he was very pleased to meet Bush again.    "This is already the fourth visit you pay to our country, which has made you the U.S. president paying the most visits to China in the presidential terms," Hu told Bush.    "This has fully demonstrated the great importance Mr. President has attached to the development of Sino-U.S. relations," he said.    The inauguration of the new U.S. embassy in Beijing on Friday, which President Bush attended, and the inauguration of the Chinese embassy in Washington at the end of last month, signified the further advancement of the China-U.S. relations, said the Chinese president.    In response, Bush noted that bilateral relations with China are important, constructive and forthright, adding that the U.S. side will continue to work with China to build bilateral ties on a more solid foundation.    On the Taiwan issue, Hu reiterated China's stance against "Taiwan independence," and hoped the United States properly handles the issue to support the peaceful development of cross-Strait relations.    "No matter what kind of changes take place in the cross-Strait relations, our stance of adhering to the one-China principle and opposing 'Taiwan independence' secessionist activities will never change, and cannot be changed," Hu said.    Under new circumstances, the Chinese government will continue to push for the peaceful development of the relations across the Taiwan Straits, and promote cross-Strait personnel, economic and cultural exchanges and cooperation, said the Chinese president, adding that China hopes to see Washington properly handle the Taiwan issue and support such peaceful development.    President Bush responded that the United States is glad to see the improvement of cross-Strait relations.    During the meeting, which was followed by a banquet, the U.S. president said that he enjoyed the conservation with Hu, and has had "memorable experience" every time he visited the country.    Describing the grand opening ceremony of the Beijing Olympic Games, which he attended on Friday night, as "spectacular," Bush congratulated China on the successful opening of the Games and said he has "fully enjoyed" the Games. He also thanked the Chinese side for its considerate arrangements of various activities for himself and his family during their stay in Beijing.    Having watched a swimming final on Sunday morning in which Michael Phelps clinched a men's 400m individual medley gold with a new world record, Bush said he is looking forward to watching the basketball match between China and the United States scheduled for Sunday night.    Hu congratulated Bush on the victory of Michael Phelps, whom he called "an excellent athlete of the United States," and expressed the belief that Phelps will "achieve more outstanding results" in the Olympic swimming competition.Chinese President Hu Jintao (R, front) shakes hands with U.S. President George W. Bush during their meeting at Zhongnanhai, compound of China's central authorities, in Beijing, China, Aug. 10, 2008.The Chinese president also took the opportunity to expressed sympathy over the tragic incident on Saturday in which one American citizen was killed and the other injured.    "I would like to express my heartfelt sympathy to you and the family of the victims over this unfortunate incident," said Hu.    Hu said that the Chinese side has paid great attention to this incident and he has personally instructed the Chinese Foreign Ministry to visit the injured American in hospital.    "We started investigation on this case immediately, and will handle it seriously in accordance with law. We will keep contact with the U.S. side and inform you of the new developments," said the Chinese president.    Bush thanked China for how it has handled the situation of Todd Bachman and his family, and also thanked Hu for his expression of sympathy.    Todd and Barbara Bachman of Lakeville, Minneapolis, were attacked by a man with a knife while touring the 13th-century Drum Tower of Beijing on Saturday. Todd Bachman died from knife wounds while his wife suffered multiple stab wounds and was in critical but stable condition after an eight-hour surgery.    Police said that the assailant, 47-year-old Tang Yongming from Hangzhou of east China's Zhejiang Province, later killed himself by jumping off a 130-foot high balcony on the Drum Tower.    During the Sunday meeting, the two presidents also exchanged views on other issues, including the Korean Peninsula nuclear issue and the Iran nuclear issue.    They agreed that the two sides should maintain communication and coordination, and make joint efforts to facilitate the proper settlement of these issues.    Both leaders also made a positive evaluation of the progress achieved through the strategic and economic dialogue between the two countries, and agreed to work together to help the dialogue achieve more positive results.

BEIJING, Sept. 21 (Xinhua) -- Chinese Premier Wen Jiabao on Sunday visited hospitals, communities and supermarkets in Beijing to see for himself the infants sickened by tainted milk powder and the milk market. His first stop was Beijing Children's Hospital, where many parents had brought their children for kidney tests.     Outside the consulting room, ultrasonic scan room and medical wards, Wen asked parents and children how they were faring. Chinese Premier Wen Jiabao (L, front) calls on a child sickened by tainted milk powder at Beijing Children's Hospital in Beijing on Sept. 21, 2008. Wen Jiabao on Sunday visited hospitals, communities and supermarkets in Beijing to see for himself the infants sickened by tainted milk powder and the milk market    At the ultrasonic scan room, 9-month-old Li Qianying, was lyingon the bed undergoing an examination by doctors.     "Don't cry, and it will be over in minutes," Wen told her, and asked a doctor about the little girl.     After hearing many doctors and nurses had been working around the clock, he thanked them and asked they gave "careful and patient care for the sick infants".     As of Saturday noon, 1,008 children in Beijing had been diagnosed with kidney stones and received treatment in 91 municipal hospitals, Beijing Municipal Health Bureau said on Saturday.     More than 20 infants were discharged from Beijing Children's Hospital.     Wen visited Chen Shijie at her home in Fuxingmen to inquire after her granddaughter. He was please to hear she was in good health. Chinese Premier Wen Jiabao (front) speaks while holds up a box of milk at Chang'an supermarket during an inspection on the milk products in Beijing on Sept. 21, 2008. "This incident made me feel sad, though many Chinese have been understanding. It disclosed many problems for government and company supervision of the milk sources, quality and marketing administration.     "The government will put more efforts into food security, taking the incident as a warning."     When Chen's daughter, Chen Yanhong, praised the government for the quality of the information released, he said "The government should be responsible for its people.     "What we are trying to do is to ensure no such event happens in future, by punishing those responsible leaders as well as enterprises. None of those companies with no professional ethnics or social morals will be let off," Wen said to applause.     Later, Wen went to a supermarket and checked the milk products.     "We should check every batch of the milk powder and other milk products, and mark them so buyers can be assured of their quality."     More than 6,200 infants had developed kidney stones and four infants have died after drinking baby formula tainted with melamine, a chemical illegally added to give false protein readings in tests.

BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.     The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported.     The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.    CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales.     To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan.     PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."