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BERLIN, Oct. 12 (Xinhua) -- Chinese Vice President Xi Jinping held talks here on Monday with German Chancellor Angela Merkel, putting forward a five-point proposal on boosting bilateral relations between the two countries. Xi extended congratulations on the victory of Merkels' party, the Christian Democrats (CDU/CSU), in late September's general election. The vice president said Sunday marked the 37th anniversary of the establishment of diplomatic relations between the two countries, and the bilateral ties have seen outstanding progress over the past 37 years. Chinese Vice President Xi Jinping (L) shakes hands with German Chancellor Angela Merkel in Berlin, capital of Germany, Oct. 12, 2009. Currently, the relationship between China and Germany is facing new opportunities for development, Xi said. Chinese Vice President Xi Jinping (L) meets with German Chancellor Angela Merkel in Berlin, capital of Germany, Oct. 12, 2009Xi tabled a five-point proposal on boosting the sustained, steady and healthy development of the Chinese-German relationship: -- Maintain close contacts and deepen mutual political trust. Xi urged the two sides to enhance communication and cooperation through various channels and to further increase mutual understanding and political trust in line with the principle of respecting and accommodating each other's core interests. -- Deepen bilateral trade and economic cooperation, and jointly tackle the international financial crisis. Xi said two Chinese trade and investment delegations have made their way to Germany, and that he hoped the German side would also take substantial measures to support and boost bilateral trade and investment, especially in the cooperation of high-tech areas. Chinese Vice President Xi Jinping (front R) meets with German Chancellor Angela Merkel (front L) in Berlin, capital of Germany, Oct. 12, 2009-- Enhance cooperation on climate change, new energy and environment protection. -- Strengthen exchanges and cooperation in areas including culture, education, press and tourism so that the Chinese-German friendship could be more deeply rooted among the people of the two countries. Xi said the Chinese side, as the Guest of Honor for the Frankfurt Book Fair, is ready to stage various events to better introduce the Chinese culture to the German people. -- Enhance international cooperation to promote world peace and development. The Chinese government supports Germany to play a bigger role in international organizations like the UN, he said. China is also willing to keep communication and coordination with the German side on major international issues like reform of the international financial system, climate change, food and energy security, so as to jointly contribute to world peace and development, he added. Merkel, who hosted a grand welcoming ceremony in honor of Xi, agreed to Xi's five-point proposal. She said the newly-elected German government will continue to give priority to the Germany-China relations and is willing to work with China to enhance bilateral cooperation. Merkel extended congratulations on the 60th anniversary of the founding of the People's Republic of China, and hailed China's economic achievements and the stimulus package adopted to boost domestic demands since last year. Merkel noted that these measures have positive contributions to the recovery of the global economy. Chinese Vice President Xi Jinping (L) presents two books written by former Chinese leader Jiang Zemin to German Chancellor Angela Merkel at the start of their meeting in the Chancellery in Berlin, capital of Germany, Oct. 12, 2009Prior to the meeting, Xi presented to Merkel with two English-version books on energy and information technology written by former Chinese President Jiang Zemin. Xi arrived in Germany on Saturday morning for the second leg of his five-nation Europe tour. Later on Tuesday, Xi will attend the opening ceremony of the Frankfurt Book Fair.
MOSCOW, July 28 (Xinhua) -- China and Russia have reached broad consensus on the proper handling of the sudden closure of the Cherkizovsky Market through friendly negotiations, said Chinese Vice Minister of Commerce Gao Hucheng here Saturday. Gao, who arrived here Wednesday, heads a Chinese delegation for talks on the impact of the June 29 closing of the market, where tens of thousands of Chinese vendors had been operating. Local analysts said the shutdown has marked an inevitable transformation of the nongovernmental trade between China and Russia and necessitated a change in mindset and operation mode among Chinese businessmen in Russia. REASONS BEHIND THE ABRUPT SHUTDOWN Cherkizovsky is Russia's biggest wholesale market. Police abruptly shut down the nearly 300-hectare market in northeastern Moscow on June 29 after disclosure by .Russian Federal Supervision Service for Consumer Rights Protection and People Welfare of various illegal and irregular operation in the markets Russian Prosecutor General's Office said the shutdown was due to bad sanitary and fire control conditions, but local media believe many factors have prompted the closure. A June report tendered by Minister of Industry and Trade Victor Khristenko stated that contraband goods not only cost the government great loss in taxation, but also undermine the development of the country's light industry. The report suggested promoting legal, standardized chainstores and cracking down on terminal markets notorious for the sales of counterfeited and shoddy products and goods entered the country through "grey customs clearance". Russian Federal Supervision Service for Consumer Rights Protection and People Welfare, Prosecutor General's Office, Federal Migration Service , Moscow municipal government and other government agencies even proposed shutting down the market for good. The latest poll conducted by research group Levada Center also showed that among 94 percent of Moscow citizens who know about the closure, 67 percent support the move. Another online poll conducted by newspaper Izvestia also showed that over 80 percent of netizens are in favor of the shutdown. "GREY CUSTOMS CLEARANCE" HAMPERS SINO-RUSSIAN TRADE Over the past 20 years, the people-to-people trade between China and Russia has undoubtedly made great contribution to bilateral economic and trade cooperation, said Gao Xiyun, Economic Minister Counselor of Chinese Embassy in Russia. However, it is also an undeniable fact that problems such as "grey customs clearance" had seriously hampered the health development the bilateral people-to-people trade, he said. The so-called "grey customs clearance" is a long-standing practice that involves intermediaries handling customs clearance for bulk commodities loaded in planes or containers trucks. After paying the so-called "customs clearance companies," the consignors of the goods do not have to deal with Russian customs authorities in person. Consequently they receive no official customs declaration documents. In recent years, the Russian government has strived to rectify its domestic market order. For a time, goods that entered the country through "grey customs clearance" were regarded as contraband, and their owners would face penalties, including fines or even outright confiscation. Prior to the market closure, on Sep. 11, 2008, the Investigation Committee at the Russian Prosecutor General's Office sealed up a large part of Chinese merchants' container storehouse in the Cherkizovsky market. CHINESE BUSINESSMEN NEED TO CHANGE MODES OF OPERATION Some 60,000 Chinese are doing business in Cherkizovsky Market, making the market the biggest Chinese business community in Moscow and even the whole Russia, according to figures from the Chinese Chamber of Commerce in Russia. The abrupt closure of the market, in addition to the closedown of the container storehouse, has caused great economic loss to Chinese merchants and their domestic enterprises. Gennady Gudkov, Deputy Chairman of the Security Committee of the Russian State Duma said though the closure of the market is justified, the vendors there should be given advance notice of the closure. Gao Hucheng said China has no objections to Russia's crackdown on smuggling, but the Russian side should protect the personal and property safety of the Chinese citizens without hurting their dignity. While enforcing the law, the Russian side should try its best to keep the economic losses of the Chinese business people to the minimum. Some Chinese analysts noted that Russia's cracking down on smuggling and rectifying domestic markets would help regulate trade channels, improve trade environment, therefore conducive to sustained and sound development of bilateral trade in the long run. Li Huilai, Charge d'Affaires of the Chinese Embassy in Russia, said the only way out for Chinese merchants is to transform their operation mode and do their business in accordance with law and regulations. JOINT EFFORTS URGED TO EXPAND NORMAL TRADE CHANNELS In recent years, China has strengthened export supervision and instructed Chinese enterprises and businessmen in Russia to operate honestly and abide by the laws and regulations there. China and Russia share a common goal in creating a trade environment that is standardized, transparent and convenient. In June, China and Russia established a customs cooperation committee and set up a long-term mechanism to normalize bilateral trade order in a bid to raise the level of customs clearance facilitation and create favorable conditions for the crackdown and eventual eradication of the "grey customs clearance." Gao's delegation, comprising officials from the ministries of commerce and foreign affairs, the General Administration of Customs and trade officials from Zhejiang, Fujian and Hebei provinces reached three consensus with the Russian side on the closure issue. The two sides agreed to further develop the Sino-Russian strategic cooperative partnership, deepen bilateral trade cooperation and properly settle the closure issue through friendly negotiations. The governments of China and Russia attached great importance to their strategic cooperative partnership and had agreed that the sudden closure of the market should not hurt their friendly cooperation, Gao said. The two sides should promptly initiate a customs cooperation mechanism, and develop a work plan to stop illegal activities including "grey customs clearance," regulate customs declaration channels and raise customs clearance efficiency. Analysts believe that with the constant improvement and development of Sino-Russian trade and economic cooperation, the issue of "grey customs clearance" could be fully resolved.
BEIJING, June 29 -- Chinese listed banks, which have lent record high amounts in the first half, are likely to report lower profit growth in the period due to narrowing interest spreads and higher provisioning requirements, industry analysts said. "We are expecting a 7 to 8 percent year-on-year profit fall among the 14 listed banks in the first half-year," said Wang Liwen, banking analyst with Shanghai-based Guotai Junan Securities Co, citing stretched interest spreads as the major reason. In 2008, the net interest rate spread for banks ranged from 2.45 percentage points to 3.62 percentage points, with the average figure hovering around 3 percentage points. This year, as the government cut interest rates several times to spur economic growth amid the global financial crisis, the net interest rate spread is expected to be lower, at around 2.36 percentage points. Clients walk into the Suzhou branch of Bank of Ningbo in Suzhou, east China's Jiangsu Province, March 27, 2009.The bank, the first listed lender to file a mid-term report, said its first-half profits would drop nearly 5 percent from a year earlier "A drop of 0.7 percentage points in the average net interest rate spread could mean some 7-billion-yuan decrease in the interest yield for each trillion yuan of new loans," said Wang. Chinese banks extended a record 7.37 trillion yuan of new loans in the first half, triple the amount offered in the same period a year earlier and 47 percent more than the government's full-year target, after lending restrictions were eased in November to stem an economic slowdown. However, most securities firms' reports said the country's 14 listed banks might post an average profit decrease ranging from 6 percent to 10 percent year-on-year in the first six months. According to Wind Info, a financial data provider, the 14 listed banks reported a net profit of 232.7 billion yuan in the first half of 2008, an increase of 73 percent year-on-year. But this year, the net profit could probably stand at 210 billion yuan, down 10 percent on a yearly basis. Bank of Ningbo, for instance, on July 14 announced no more than a 5-percent decease in net profit in its pre-released semi-annual report to the Shenzhen bourse. It is the first Chinese listed bank to report a profit fall in the first half. Wang Yifeng, an analyst at TX Investment Consulting, said the improved provision coverage ratio requirement might also cripple profits at listed banks. To prevent potential risks arising from the lending spree, China Banking Regulatory Commission raised the minimum provision coverage ratio requirement to 150 percent from 130 percent earlier this year. "The increase will mainly eat into the profits of several large State-controlled banks as they are still not up to the new requirements," said Wang. But as the squeezed spreads bottom out in the second half, most analysts said listed banks would still post positive growth for the whole year. "Thanks to the widened interest rate spreads and lower loan cost in the following months, we are expecting a 10-percent growth in profits overall this year," said Liu Yinghua, an analyst with Shenzhen-based Ping An Securities.
ANCHORAGE, Sept. 12 (Xinhua) -- Top Chinese legislator Wu Bangguo on Saturday met with Alaska Governor Sean Parnell here before winding up his week-long official goodwill visit to the United States. Wu, chairman of the Standing Committee of China's National People's Congress, said he was glad to have Alaska as the final stop in his visit to the United States. Apart from meeting with U.S. government and parliament officials, Wu said he also conducted comprehensive contacts with people from all walks of life in the U.S. during his stay. The major topics included how to strengthen the Sino-U.S. cooperation, how to join hands to face challenges and how to realize common development of the two countries, Wu said. Wu Bangguo (1st R), chairman of the Standing Committee of China's National People's Congress, meets with Governor of Alaska Sean Parnell, in Anchorage, Alaska of the United States, on Sept. 12, 2009. Wu noted that, Alaska, a state with rich natural resources and a closest U.S. state to China, enjoys incomparable advantages in cooperation with regions of China. He wished that the Alaska state will further encourage its entrepreneurs to take the opportunities and expand new cooperation scopes in economy and trade with China, and boost exchanges and cooperation in the fields such as renewable energy, climate change, science and technology, and education. During the meeting, Parnell said he was pleased that Chairman Wu and the delegation chose to stop over in Alaska during their visit to the United States. China is an important market for Alaska, Parnell said. He and Wu had a good conversation on topics ranging across renewable energy, environmental conservation, natural resources development, Alaska seafood and tourism opportunities, he added. At the invitation of U.S. Speaker of the House of Representatives Nancy Pelosi, Wu started to visit the U.S. on Sept. 6. His trip to the United States was the first official visit to America by a top Chinese legislator in the past two decades. Wu met with U.S. President Barack Obama, Vice President Joe Biden and Secretary of State Hillary Clinton during the stay. Before visiting the Unites States, Wu has visited Cuba and the Bahamas.
BEIJING, Oct.3 (Xinhua) -- The luminous full moon is always faithful to be there when Mid-Autumn Day falls, but Chinese people are going beyond their home and tradition to observe the festival that boasts a history of thousands of years. Wang Jiayue, 26, celebrated the festival Saturday with her family at a lakeside resort that was 70 kilometers away from her home in Wuhan, central China's Hubei Province. The luminous full moon shines at night when all Chinese around the globe celebrate their traditional Mid-Autumn Day which falls on October 3 this year."We ate moon cakes while drifting on the tranquil lake glistening with the silver moonlight. That was a perfect place to enjoy the moon," she said. Traditionally, Mid-Autumn Day, as a festival for family reunion like the Spring Festival, is always observed at home, eating moon cakes, but in recent years, creative young people are going to various places in a hope to make the holiday a poetic, romantic and more joyous occasion, partly thanks to the government's decision to make the festival a public holiday. Tourists dance with local people of the Miao ethnic group at Goutan Village in Rongshui County, southwest China's Guangxi Zhuang Autonomous Region, Oct. 3, 2009. Plentiful tourism items in many scenic spots around China attracted many tourists from at home and abroad during the National Day holidayMore than 10,000 travelers Saturday gathered at Tianshan Grand Canyon, 40 km from Urumqi, capital of Xinjiang Uygur Autonomous Region, where they rode horses by the canyon's serene Swan Lake in the day and climbed onto the mountain to gain a closer view of the bright moon at night. "I enjoyed very much the day when we looked at the golden grassland surrounded by numerous mountains, and it seemed that we were also having a day of the idyllic life of local Kazkhstan herdsmen," said Wang Jianfeng, a tourist. "And it is so peaceful sitting here to wait for the night to fall and the moon to shine," he added. Visitors take photographs in front of a large-sized flower pot on the Tian'anmen Square in central Beijing, capital of China, on Oct. 3, 2009. Visitors from across the country took a tour here on Saturday during the National Day holidays, the 60th anniversary of the founding of the People's Republic of China.Many people in east Fujian Province chose to spend the day in Taiwan. Xiamen Travel Agency in Xiamen City alone organized more than 50 tourist groups to Taiwan for the holiday. In Fuzhou, the provincial capital, about 40 percent of the group tours were Taiwan-bounded. The Sun and Moon Lake in Taiwan was a good place to enjoy the full moon, said Jia Ronglin, general manager of Fujian Tourism Company. Tourists are seen on the Huaguoshan Hill, a famous scenic area in Lianyungang, a city in east China's Jiangsu Province, Oct. 3, 2009. Plentiful tourism items in many scenic spots around China attracted many tourists from at home and abroad during the National Day holiday.EAT, OR NOT TO EAT Young people are showing little appetite to moon cakes, a must on the Mid-Autumn Day menu. To cater to this group of picky consumers, bakeries, have in recent years introduced diversified-flavor, and usually expensive, moon cakes. "Actually few young people like moon cakes, but, anyhow, we have to have some as it is a day for that," said Zhang Chao, a young man in Hohhot, capital of northern Inner Mongolia Autonomous Region. He was buying moon cakes at a supermarket. "So, I prefer small moon cakes. Larger ones or those with delicate packing are too much for me," says Zhang. For some, they would rather give uneatable "cakes" to their friends. E-moon cakes are becoming popular among Chinese Internet users. "Such a moon cake carries as much affection as the traditional edible cakes to my friends, as I have made it with my own hand," said Wang Yue, a student at Shandong University in east China's Jinan City. An e-moon cake also requires a process of stuffing, baking and packing, but those are done with clicks of the mouse. There are still people, however, who keep their faith to the traditional flavor of the festival food. Every day since mid September, Li Shifu has been seeing long queues in front of his bakery in Hohhot. People queued to wait for Li's moon cakes, which they said were simple but delicious. Li, his wife and three employees have been busy making moon cakes for more than half a month, and sometimes they can not rest until midnight.