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BEIJING, Oct. 11 (Xinhua) -- China on Monday vowed to continue its financial support to reconstruction projects in areas ravaged by the major Wenchuan earthquake in 2008, promising lower rates on loans and demanding an easier deposit reserve requirement ratio from banks in the regions.The new pledge came in a joint statement on the website of the People's Bank of China, or the central bank, which announced the continued financial support along with the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission.Banks in the quake-hit areas should continue to provide financial support and services to reconstruction projects in the regions, as post-earthquake reconstruction is still in a critical period, the statement said.The magnitude-8.0 quake, with its epicenter in Wenchuan in southwest China's Sichuan Province, left more than 87,000 people dead or missing and more than 374,640 injured. Millions of houses were also flattened during the major quake."We should keep the continuity and stability of our financial support to the regions and make our financial services better targeted and more effective," it said.According to the statement, local banks in the quake-hit areas will continue to enjoy a lower deposit reserve requirement ratio, compared with elsewhere, until June 30, 2011, and such banks will also be exempt from any hike of the reserve requirement ratio during this period.The statement ordered local bank branches in the quake-hit areas to provide prioritized financial services to projects in fields of infrastructure facilities, agriculture, medium and small enterprises, as well as ecological and environmental protection in the region.China's central bank and banking, securities and insurance regulators encourage eligible companies in the quake-hit regions to widen their finance channels through inter-bank short-term bond issuances, bills and other financial instruments, according to the statement.Also, local banks' preferential policies on loans to home reconstruction would remain unchanged in the quake-hit regions, it said.However, loans to projects with high consumption of energy and heavy pollution must be strictly controlled in a bid to facilitate energy-savings and reduce carbon dioxide emissions in the region, according to the statement.Chinese lenders had extended 172.4 billion yuan (25.35 billion U.S. dollars) loans for relief and reconstruction in regions devastated in the earthquake by the end of the first quarter, according to the central bank's figures released in May this year.Outstanding loans at banks in quake-hit provinces, including Sichuan, Shaanxi and Gansu, surged 34 percent year on year to 2.29 trillion yuan at the end of March.

BEIJING, Oct. 16 (Xinhua) - China's gross domestic product (GDP) will grow about 9 percent next year, but the economy will be challenged by rising labor costs, liquidity problems and difficulty in sustaining rapid growth in the long run, a senior researcher at the country's top think-tank said Saturday.Liu Shijin, deputy director of the Development Research Center of the State Council, or China's Cabinet, spoke at the OTO Fortune Forum held by the Bank of Communications.As for the year 2010, Liu predicted an annual 10-percent GDP growth due to the economic slowdown in China during the second half of the year.He said China's exports and investments would be much better in 2011 than this year, but the growth rate of consumption would pull back slightly from this year's boom, making 9 percent growth "very likely".To keep its economy on track for sustained growth, however, China still faces three major challenges in the long term, according to Liu's research."The first challenge comes from the rapid rise of labor costs in the country," Liu said, warning: "The competitiveness of Chinese companies will be threatened by rising labor costs unless they find a new source of growth, such as innovation."The second challenge is from liquidity as China's currency, the renminbi, and other non-U.S. dollar currencies are under forced appreciation pressure following the Federal Reserve's considering a new round of quantitative easing of the monetary policy, he said.The greenback, which serves as the world's reserve currency, tumbled against most major currencies this week on expected easing move by the Federal Reserve to pump more money into the U.S. economy next month.Meanwhile, China's economic stimulus package also injected excessive liquidity into the market, pushing up prices of commodities, equities and other land-related assets or resources, he added.The third major challenge concerns whether China can maintain its quick economic expansion in the future, he said.According to Liu's forecast, in the next three to five years China's GDP growth will slow to a moderate speed of around 7 percent from its current 10 percent."Actually, we don't have to be too worried about an economy with moderate expansion," he said, "because the current economic growth is too high for China."

DAMASCUS, Nov. 1 (Xinhua) -- Top Chinese political advisor Jia Qinglin visited the Golan Heights on Monday, pledging support for Syria's efforts to resume the exercise of sovereignty over the mountainous region partially occupied by Israel."China unswervingly supports the just cause of the Syrian government and people to safeguard their national sovereignty and territorial integrity, backs Syria to resume the exercise of sovereignty there, and supports Syria's long-time efforts for peace in the Middle East," said Jia after visiting the ruins of Quneitra city, the Syrian headquarters for the heights.China will, as always, play a positive and constructive role, and work along with Syria and the international community to strive for a comprehensive, fair and lasting peace in the Middle East at an early date, said Jia, chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee.He planted an olive tree there to signify peace and friendship.The Golan Heights, with its major part under Israeli occupation since the 1967 Arab-Israeli war, remains a highly contested land straddling the borders of Syria and Israel.During an interview with Syrian media on Sunday, Jia hailed the traditional friendship between China and Arab nations, highlighting political mutual trust, mutually beneficial economic cooperation, frequent cultural exchanges and well-organized coordination on international affairs."China always firmly supports the Arab states' just strive for resuming legitimate national rights and interests, appreciates their support to China on issues concerning China's core interests," Jia said.Labeling Arab nations as "good friends, brothers and partners" of China, Jia called for more cooperation between China and them to further boost their strategic cooperation.Jia arrived here on Friday for a five-day visit to the country.

BEIJING, Sept. 30 (Xinhua) -- China and the European Union (EU) are forging a reliable partnership as one's stability, growth and prosperity are in the interests of the other, said an EU envoy on Thursday.Serge Abou, EU Ambassador to China, made the remarks before Chinese Premier Wen Jiabao attends the eighth Asia-Europe Meeting (ASEM8) and the 13th China-EU summit from Oct. 4 to 6. The ASEM summit, under the theme "Quality of Life: Achieving Greater Well-being and More Dignity for all Citizens," will focus on global finance and economic governance, sustainable development, and social and cultural exchange between Asia and Europe.China, as the second largest economy in the world, plays an important role in the meetings, Abou said, adding that the growth of Chinese economy contributed much to the world, especially amid the financial crisis.Abou described the relationship between China and the EU as "maturing partnership," with trade as "the first taproot" of the ties.The 27-member EU is China's biggest trade partner while China is the EU's second-largest trade partner and most important source of imports. This year, China-EU trade has witnessed remarkable growth and bilateral trade volume exceeded 300 billion U.S. dollars for the first eight months, up 36.2 percent compared with the same period last year.However, Abou was not satisfied with the figures. Trade and investment are not big enough considering China's 1.3-billion population, said the ambassador. He looks forward to more cooperation between the two countries in agriculture among other sectors."We welcome Chinese rise and Chinese prosperity," said Abou, adding that the EU would like to be more "engaged" in China's growth.Besides, China and the EU are also cooperating in energy, climate change and higher education, said the envoy.There are 200,000 Chinese students in Europe and tourists to European countries are also increasing, he added."The Chinese language is the second foreign language studied in my country France in secondary schools, just after English," said the EU official, adding that, by contrast, it was very "exotic" to learn Chinese when he was young."That means we have a solid basis to deepen our relationship," he added.

BEIJING, Nov. 1 (Xinhua) -- China and Turkey voiced commitment here on Monday to make joint efforts to crack down on terrorism and separatism."China would stay firm on safeguarding its national interests relating to the national sovereignty and territorial integrity," said Chinese Vice President Xi Jinping.Xi made the remarks in his meeting with visiting Turkish Foreign Minister Ahmet Davutoglu, according to a press release from Chinese Foreign Ministry.Xi also expressed his appreciation during the meeting for Turkey's support of China's efforts to combat the "East Turkistan" terrorist forces that threaten to sabotage China's unity.The "East Turkistan" terrorist forces pose threats to the development and stability of northwest China, Xi told Davutoglu, noting that China wants to step up cooperation with Turkey in this regard.A bomb attack on Aug. 19 in Aksu City in China's Xinjiang Uygur Autonomous Region left eight people dead, including the two attackers, and 15 others injured.Chinese authorities believe the "three forces," an umbrella category for separatists, extremists and terrorists, are responsible for the attacks.Xinjiang -- with 41.5 percent of its population Uygurs, a large Muslim Chinese ethnic group -- is China's frontline against terrorism. The region borders eight central and west Asian countries, many of which have been attacked by terrorist and extremist militant groups.Echoing Xi's views, Davutoglu said Turkey values its ties with China and would unswervingly uphold the one-China policy and crack down on any activities in Turkey that aim to sabotage China's sovereignty and threaten its territorial integrity.The two sides also hailed progress made on bilateral relations, according to the press release, pledging to intensify high level political exchange, expand economic and trade cooperation and strengthen coordination on regional and international issues in an effort to safeguard the interests of the developing countries.Davutoglu's China visit was at the invitation of his Chinese counterpart Yang Jiechi.

来源：资阳报