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BEIJING, March 10 (Xinhua) -- Yi Gang, vice governor of China's central bank, said Tuesday that China still has room to cut interest rates, but such room is "quite limited".     "China still has room to cut interest rates, but not a lot," Yi told Xinhua.     "The room for cuts is quite limited, because a zero interest rate is not the best choice for China at the moment," he said.     The People's Bank of China, the country's central bank, has cut interest rates five times and reduced required reserve ratio for commercial banks four times since last September.     The one-year benchmark deposit rate now stands at 2.25 percent.     Yi pointed out interest rates of China and the United States are actually almost the same.     The 12-month deposit rate in the U.S. stands at around 2 percent, although its key interest rate, or an inter-bank rate, is zero to 0.25, he explained.     The equivalent inter-bank rate in China is at around 0.8 percent, he added.     China's current rate still has room for manoeuvre, Yi said, but if the interest rate falls to zero, there will be no more room for using interest rates to deal with any further world economic downturn.     Su Ning, also vice governor of the central bank, told Xinhua on Monday that China still has plenty of space to manoeuvre in its monetary policy.     Su said the room for further adjustment is "smaller but still exists."     "There's a quite a lot of room for cutting the bank's reserve requirement ratio," he added.

BEIJING, March 2 (Xinhua) -- China's top political advisory body is to start its annual session Tuesday, with the focus on addressing global financial crisis. The Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) will open Tuesday afternoon and last nine days, said spokesman for the session Zhao Qizheng at a press conference Monday.     The session's secretariat said political advisors have submitted 296 proposals as of 5 p.m. Monday, with economy, employment and infrastructure being the main concerns as the global financial crisis unfolded. Zhao Qizheng, spokesman of the Second Session of the 11th Chinese People's Political Consultative Conference (CPPCC) National Committee, answers questions from journalists during a news conference on the CPPCC session at the Great Hall of the People in Beijing, capital of China, March 2, 2009. The Second Session of the 11th CPPCC National Committee is scheduled to open on March 3, 2009.    Members of the CPPCC National Committee have shown great concerns about the economy. Some of them are optimistic about the goal of an 8-percent economic growth this year while others think it is difficult to realize, Zhao said.     China can achieve the goal through its efforts, said Zhao. China must try all means to ensure stable and rapid economic development and strive for the target in order to ride through the crisis, as the country's political advisors all agree.     Jia Qinglin, chairman of the 11th CPPCC National Committee, will deliver a report on the work of the CPPCC National Committee's Standing Committee over the past year, while Zhang Rongming, vice-chairwoman of the 11th CPPCC National Committee, will report how the suggestions and proposals from CPPCC members were handled since the last session, Zhao said. China's top political advisory body, the National Committee of the Chinese People's Political Consultative Conference (CPPCC), holds a press conference before its annual session at the Great Hall of the People in Beijing, capital of China, March 2, 2009.CPPCC National Committee members, coming throughout the country, are expected to discuss the report on government work by Premier Wen Jiabao, reports on the work of the Supreme People's Court and Supreme People's Procuratorate, he said.     During the session, the political advisory body will hold two press conferences on the proposals on how to achieve steady and relatively fast economic growth and the World Expo in Shanghai next year.     A total of 2,235 political advisors are expected to attend the session.

BEIJING, Feb. 24 (Xinhua) -- Chinese President Hu Jintao has called for greater awareness of both hardships and opportunities presented by the global financial crisis in order to offset the impacts of the crisis.     In a speech to the Communist Party of China (CPC) Central Committee Political Bureau on Tuesday, Hu said China must be prepared for the most difficult and complicated situations in the world economy and meanwhile make good use of or create development opportunities amid the transformation of international and domestic conditions.     The world economic situation was austere and complicated; the global financial crisis had yet to level out; and China's economic growth was under pressure of a slow-down, he said.     He said no fundamental changes had occurred in the country's basic economic development situation, its advantageous conditions for economic development, its accelerating trend of industrialization and urbanization, and the external environment of peace, development and cooperation.     "The strong Party leadership, the advantages of the socialist system, and the united efforts of our people of all ethnic groups are the strength for us to overcome the difficulties and withstand the impacts of the global financial crisis," he said.     The government should maintain the policy of giving top priority to increasing domestic demand while stabilizing external demand, he said.     He called for more powerful and efficient measures to increase domestic demand, consumer demand in particular.     He urged continuing to make the reform and opening-up a powerful driving force for economic growth, actively pushing forward reform in key areas and links.     Hu urged all Party committees and governments to deepen the implementation of the "scientific view of development" and "carry out the decisions and arrangements of the central authorities in a creative way".     Hu, General Secretary of the CPC Central Committee, presided over Tuesday's panel study of the Politburo, at which two scholars explained world economic situation and ways to boost economic growth.     The lecturers were Zhao Jinping, of the State Council's Development Research Center, and Bi Jiyao, of the Macro-economic Research Institute under the National Development and Reform and Commission.

BEIJING, March 7 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the current international financial crisis, despite its severe impact on China's economy, also means an opportunity for the country.     China should take the opportunity to change its development pattern and realize structural adjustment so as to maintain a steady and relatively fast economic growth, Hu said when joining a panel discussion with deputies of the National People's Congress (NPC) from south China's Guangdong Province.     "Challenge and opportunity always come together. Under certain conditions, one could be transformed into the other," Hu said. Chinese President Hu Jintao (front, 2nd R) talks to female deputies during the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China’s Guangdong Province as International Women's Day is coming, in Beijing, capital of China, March 7, 2009    Hu said China should make full use of its advantages to break the bottlenecks of development. He also called for efforts to promptly and creatively implement the policies and plans of the central government to create conditions for solid and rapid development in the future. Wu Bangguo (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the Standing Committee of the National People's Congress (NPC), attends the panel discussion of deputies to the Second Session of the 11th NPC from east China's Shandong Province, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from Shandong Province, top legislator Wu Bangguo said to maintain economic growth is China's top priority now, and efforts should be made to boost domestic consumption so as to secure this year's economic development targets.     In face of impacts of global financial crisis, China should seek both a temporary solution and a permanent cure, and make efforts to upgrade its industry and improve competitiveness of Chinese enterprises, said Wu, chairman of the NPC Standing Committee. Chinese Premier Wen Jiabao (2nd R) attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from central China's Hubei Province, in Beijing, capital of China, March 7, 2009Premier Wen Jiabao said maintaining steady and relatively fast economic development amid the global financial crisis should be the focus of local governments.     The task can affect the overall development of the national economy and society, the people's interests, and the long-term development of the country's modernization drive, said Wen when joining NPC deputies from the central Hubei Province.     Governments at all levels should incorporate improving people's well-being into the efforts on maintaining economic growth to benefit the people and promote harmony and stability of society, Wen said.     He also urged local governments to take the opportunity to enhance their capabilities in dealing with complicated situations, keeping close contact with the public and implementing policies.     Governments should also improve their credibility among the people, Wen said. Jia Qinglin (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with members of the 11th National Committee of the CPPCC from the Communist Youth League of China, the All-China Youth Federation, the All-China Federation of Trade Unions and All-China Women's Federation, in Beijing, capital of China, March 7, 2009Top political advisor Jia Qinglin attended a joint panel discussion with political advisors from circles of trade unions, the youth league, and women's federations.     These social groups should "take initiative to resolve disputes, address depression of the public, and safeguard the rights of the employees, young people and women," he said.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), also called on them to help those with difficulties to find jobs. Li Changchun (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Ningxia Hui Autonomous Region, in Beijing, capital of China, March 7, 2009.Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said publicity work should serve the overall objectives of ensuring economic growth, people's well-being and social stability.     During the discussion with lawmakers from northwest Ningxia Hui Autonomous Region, he called on media and cultural workers to provide "spiritual" support for economic growth amid global downturn. Chinese Vice President Xi Jinping (front L), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China's Hong Kong Special Administrative Region, in Beijing, capital of China, March 7, 2009Vice President Xi Jinping joined panel discussions with lawmakers from Hong Kong and Macao respectively.     Xi said the governments of both Hong Kong and Macao special administrative regions (SAR) have taken prompt and effective measures to counter the impact of global financial crisis.     He said lawmakers from Hong Kong and Macao have played a positive role in the country's political affairs since China resumed the exercise of sovereignty over the two regions in 1997 and 1999 respectively.     Xi called on the lawmakers to fully exercise their functions and powers with focus on the country's measures of maintaining economic growth and social stability. Li Keqiang (front, 2nd R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Xinjiang Uygur Autonomous Region, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from the northwestern Xinjiang Uygur Autonomous Region, Vice Premier Li Keqiang said China can enjoy large room for economic manoeuvre due to its vast territory and the high mutual complementarity in economy between different regions.     "We should turn challenges into opportunities, boost the development of the western region, make full use of advantages (of different regions), tap the market, speed up industrial restructuring, and cultivate new economic growth areas so as to keep a steady and relatively fast economic growth," Li said.     He said Xinjiang enjoys a particularly important strategic status for the country's development and stability. Efforts should be made to secure Xinjiang's stable and prosperous development, enrich people and safeguard the frontiers and strengthen national unity and social stability, he said. He Guoqiang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from north China's Hebei Province, in Beijing, capital of China, March 7, 2009.He Guoqiang, secretary of the Communist Party of China (CPC) Central Commission for Discipline Inspection, called on officials to improve their work style in face of economic difficulties.     "We must enhance education on the officials, improve existing regulations, and step up supervision to ensure steady and relatively fast economic development," He, also member of the CPC Central Committee's Political Bureau Standing Committee, told NPC deputies from northern Hebei Province. Zhou Yongkang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from Tianjin Municipality, in Beijing, capital of China, March 7, 2009. When joining lawmakers from the northern Tianjin Municipality, Zhou Yongkang, member of the Standing Committee of the CPC Central Committee's Political Bureau, underlined the adherence to scientific decision-making approach.     He also urged officials to focus their efforts on solving issues concerning people's well-being to sustain stability and promote social harmony.

来源：资阳报