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LUANDA, Jan. 19 (Xinhua) -- China's eight-measure policy designed to strengthen economic and trade cooperation with Africa has been effectively carried out with remarkable achievements in the past two years, Chinese Minister of Commerce Chen Deming said Monday.     In an exclusive interview with Xinhua, Chen said remarkable achievements have been scored in the two-way economic relations and trade cooperation between China and African since Chinese President Hu Jintao announced the eight-measure African policy at the Beijing Summit of the China-African Cooperation Forum in 2006 in Beijing.     The policy covers China's assistance to Africa, preferential loans and credits, the building of a conference center for the African Union, the canceling of debts, further opening-up of China's markets to Africa, the establishment of trade and economic cooperation zones in Africa, and the training of African professionals.     Since 2007, China has signed bilateral aid accords with 48 African countries and loan agreements with favorable terms with 22African countries, Chen said.     The year 2009 will witness a 200-percent increase in aid accords with African countries in value terms as compared to 2006,the minister said.     Meanwhile, the Chinese government will exempt 168 debts that should be paid by the end of 2005 by 33 African countries, he noted.     To encourage Chinese enterprises to invest in Africa, the Chinese government has established the China-Africa Fund with an initial allocation of 1 billion dollars, Chen said.     By the end of 2008, the China-Africa Fund had invested about 400 million dollars in 20 projects, which brought the total investment in Africa by Chinese enterprises to about 2 billion dollars.     The Chinese side plans to gradually expand the fund to 5 billion dollars, Chen said.     In addition, the construction of economic and trade zones or duty free trade zones in Africa is progressing smoothly, including the Zambia-China Economic and Trade Cooperation Zone, the Guangdong Economic and Trade Cooperation Zone in Nigeria and the Lekky Duty Free Trade Zone in Lagos, Nigeria, the Egypt-Suez Economic and Trade Zone and Ethiopian Orient Industrial Park, the minister said.     The Zambia-China Economic and Trade Cooperation Zone, as China's first trade cooperation zone in Africa, has been initially completed and put into operation, Chen said.     Ten Chinese enterprises with a combined investment of more than700 million dollars have set up plants in the zone located in the Zambian capital of Lusaka, offering some 3,500 jobs for local people, he noted.     Zambian President Rupiah Banda spoke highly of the establishment of the Zambia-China Economic and Trade Zone, as well as China's eight-measure economic policy on Africa. Like the Tanzania-Zambia Railway, the Zambian president said, the zone is a key measure symbolizing the Sino-African friendship in a new era.     To expand imports from the most underdeveloped African countries, China has exempted import tariffs from 31 African countries on farm products, stone materials, minerals, leather and hide, textiles, clothing, electric appliances and machinery and equipment, Chen said.     The African countries have gained a total of 680 million dollars in tariff exemptions during the period from 2006 to October 2008.     China has also cooperated in training African scientists and technical personnel in sectors including agriculture, medical care, social development and education.     Since 2007, China has offered training programs for 10,916 people from 49 African countries. By the end of 2009 China will send 100 advanced-level agrotechnicians to 35 African countries, Chen said.     China plans to establish 14 agricultural technology demonstration centers, all of which will begin construction by the end of this year.     Meanwhile, about half of the hospitals that China pledged to help build in Africa have already finished construction bidding, Chen noted.     The construction of the African Union Conference Center, also a Chinese aid project, began last December and is scheduled to be completed in 2011, he said.     Chen was scheduled to leave Angola for China on Monday, wrapping up a three-nation African trip that also took him to Kenya and Zambia.

BEIJING, Jan. 18 (Xinhua) -- The State Grid Corp. of China (SGCC), the country's biggest power supplier, said Sunday that its 2008 net profit fell almost 80 percent year on year due to natural disasters and higher power prices.     Net profit was 9.66 billion yuan (1.4 billion U.S. dollars), compared with 47.1 billion yuan in 2007.     Revenue rose 13.8 percent to 1.156 trillion yuan from a year earlier, the state-owned company noted.     The power distributor suffered more than 22 billion yuan (3.2 billion U.S. dollars) of direct economic loss in the worst winter weather in at least 50 years in southern China and the May 12 earthquake.     China raised the on-grid power price by 0.017 yuan per kwh in June and 0.02 yuan kwh in August to around 0.3 yuan per kwh on average to offset rising costs in power plants. But retail household power prices were capped amid concerns of a higher inflation.     The company said it planned to invest 83 billion yuan (12 billion U.S. dollars) in ultra-high voltage (UHV) power lines in 2009 and 2010 to make long-distance transmission more efficient.     China's power demand and installed power generating capacity would likely double to 7.4 trillion kwh and 1.47 billion kw respectively in 2020, it forecasted.

ASTANA, Oct. 29 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Wednesday evening, starting a three-day official visit to Kazakhstan at the invitation of Kazakh Prime Minister Karim Masimov.     Wen is scheduled to attend the 7th prime ministers' meeting of the Shanghai Cooperation Organization (SCO). Chinese Premier Wen Jiabao (R, front) is greeted by Kazakh Prime Minister Karim Masimov upon his arrival at the airport in Astana, capital of Kazakhstan, Oct. 29, 2008. In a written statement upon his arrival at the airport, Wen spoke highly of the sound development of Sino-Kazakh relations since the two countries forged diplomatic ties 16 years ago.     He said his current visit is aimed at promoting mutual understanding and trust between the two peoples, enhancing substantial bilateral cooperation in various fields, and pushing forward the development of the bilateral strategic partnership which was set up in 2005. Chinese Premier Wen Jiabao (R) is presented flowers upon his arrival at the airport in Astana, capital of Kazakhstan, Oct. 29, 2008.During the visit, Wen will have an in-depth exchange of views with Kazakh leaders on bilateral relations and other issues of common concern. He will also discuss the promotion of cooperation within the SCO with his counterparts from other SCO member states.     The Chinese premier also expressed the belief that his visit would be a success given the efforts by both sides. Chinese Premier Wen Jiabao (R, front) is greeted upon his arrival at the airport in Astana, capital of Kazakhstan, Oct. 29, 2008.Kazakhstan is the second leg of Wen's two-nation tour which has already taken him to Russia where he held talks with his Russian counterpart Vladimir Putin at the 13th regular meeting between Chinese and Russian prime ministers, and met with Russian President Dmitri Medvedev and parliament leaders.     Wen and Putin also attended the third Sino-Russian economic and trade forum in Moscow.     The two sides issued a joint communique Tuesday, and signed a series of cooperation agreements in such fields as economy, trade, science and technology, energy and culture.

BEIJING, Oct. 19 (Xinhua) -- China's premium revenue is expected to hit one trillion yuan (146.3 billion U.S. dollars) this year due to strengthened promotion and increasing demand, said a senior official here on Sunday.     The premium revenue grew at an annual rate of 30 percent from 460 million yuan in 1980, when insurance business began to enter into full swing in China, to hit 703.58 billion yuan in 2007, said vice chairman of the China Insurance Regulatory Commission (CIRC) Zhou Yanli at the opening ceremony of an insurance exhibition.     The revenue in the first eight months this year rose 52.24 percent year on year to 713.40 billion yuan which exceeded the total of last year, he said.     The revenue for the whole year is likely to break one trillion yuan at the current pace, he predicted.     The development of China's insurance business had been halted for 20 years after the founding of the new China in 1949. After the opening up and reform initiated in 1979, the sector was on the way to the right track and entered into full swing.     The value of the industry assets totaled more than three trillion yuan, which is owned by more than 110 insurers, according to Zhou.     Despite of the progress, insiders noted the revenue growth is poised to slow down in the fourth quarter of 2008 and the first half of 2009 as insurers are expected to retain dividends to protect its profit margin which was hurt by stock investment returns slumps. That is likely to discourage the future premium growth.     China Life, the nation's largest life insurer, saw premium jump52.9 percent from a year ago to 23.44 billion yuan in September, much slower than the 93.7 percent growth in August. The combined revenue in the first nine months totaled 248.6 billion yuan, up 56.7 percent year on year, comparing with the 57.14 percent growth in August.

BEIJING, Jan. 26 (Xinhua) -- Finance Minister Xie Xuren said Monday there would be growing difficulty balancing China's budget this year, and he urged officials to avoid unnecessary spending.     In a Lunar New Year greeting on the ministry's homepage, Xie said that the external and internal conditions affecting China's social and economic development in 2009 were "very severe" and more difficulties had to be overcome to achieve "steady and relatively fast" economic growth.     Xie said government funds should be used efficiently as the government carried out an active fiscal policy to support public investment while cutting taxes.     To stimulate the economy, the government has raised export tax rebates three times since July, increased farm subsidies and endedthe value-added tax for equipment purchases -- a move that's expected to reduce companies' tax bills by 120 billion yuan (about 17.4 billion U.S. dollars) a year.     Moreover, the threshold for individual income tax, which now stands at 2,000 yuan per month, is likely to rise.     Although 2008 fiscal revenue grew an estimated 19 percent from 2007 to some 6 trillion yuan, the economic slowdown, falling corporate profits and tax cuts drove down fiscal revenue in the second half of last year.     Last year, the economy grew 9 percent year-on-year, ending a five-year period of double-digit growth.     Xie said earlier this month that the fiscal decline might continue this year. The Finance Ministry has imposed tighter controls on the general administrative expenditure of local governments.     For example, local governments have been ordered to limit the year's spending on car purchases, meetings, catering and overseas travel to no more than the amounts spent last year.     Jiangxi Province has urged officials to avoid unnecessary travel and vowed to cut meeting outlays by 20 percent from the 2008 level, catering expenses by 10 percent, and international business travel costs by 10 percent.     Many local governments, meanwhile, said they would step up investment spending in 2008. Shaanxi Province, for example, said it planned to invest 40 billion yuan in education, job re-training, public sanitation and social security, up 21 percent from last year, while Henan Province will invest 40 billion yuan to raise living standards.     These and other local governments announced investment plans after the central government put together a 4-trillion-yuan stimulus package in response to ebbing growth.