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DALIAN, Sept. 10 (Xinhua) -- Following is the translated version of the full text of Chinese Premier Wen Jiabao's speech delivered here on Thursday at the opening ceremony of the Annual Meeting of the New Champions 2009, or Summer Davos: 　　Build up in an All-round Way the Internal Dynamism of China's Economic Development     Speech by H.E. Wen Jiabao     Premier of the State Council of the People's Republic of China     At the World Economic Forum Annual Meeting of New Champions 2009     Dalian, 10 September, 2009     Professor Klaus Schwab, Executive Chairman of the World Economic Forum,     Distinguished Guests,     Ladies and Gentlemen, Chinese Premier Wen Jiabao addresses the opening plenary of the Annual Meeting of the New Champions 2009, or the Summer Davos, in Dalian, northeast China's Liaoning Province, Sept. 10, 2009.     Let me begin by extending warm congratulations on the opening of the third Annual Meeting of the New Champions, or the Summer Davos, and a sincere welcome to you all.     Over the past year, the world economy has experienced the most severe challenge since the Great Depression. We may recall the worries voiced by many people early this year when we gathered in Davos for the World Economic Forum annual meeting. Since then, thanks to the concerted efforts and active measures of the entire international community, some positive changes have taken place. The world economy is beginning to recover, although the process is slow and tortuous. We can now see the light of dawn on the horizon.This is a critical juncture and it is highly significant for political leaders, entrepreneurs, experts and scholars of various countries to gather together here and discuss how to "Relaunch Growth" of the world economy. I sincerely wish this meeting a great success!     This unprecedented global financial crisis has taken a heavy toll on the Chinese economy. Yet, we have risen up to challenges and dealt with the difficulties with full confidence. And we have achieved initial results in our endeavor.     We have arrested the downturn in economic growth. In the first half of this year, China's GDP grew by 7.1 percent, investment expanded at a faster pace, and consumption maintained fast and steady growth. Domestic demand played a stronger role in driving the economy forward. From January to July, 6.66 million new urban jobs were created, income of urban and rural residents increased, and overall social stability was maintained. We effectively managed fiscal and financial risks and kept budget deficit and government debt at around 3 percent and 20 percent of the GDP respectively. Banks' asset quality and ability to fend off risks were improved. At the end of June, the NPL ratio of commercial banks was 1.8 percent, down by 0.64 percentage point from the beginning of the year, and capital adequacy ratio stood at 11.1 percent.     With the world economy still mired in recession, it is by no means easy for us to have come this far. The achievements we have made are not something that dropped into our lap. Rather, they are the results of the proactive fiscal policy and moderately easy monetary policy and the stimulus package that the Chinese government and people have pursued in line with the national conditions. Some people take a simplistic view and believe that China's stimulus package means only the four trillion RMB yuan investment. This is a total misunderstanding.     China's stimulus package focuses on expanding domestic demand and is aimed at driving economic growth through both consumption and investment. Of the total four trillion yuan in the two-year investment program, 1.18 trillion yuan will come from the central government, and it will mainly be used to generate greater investment by local governments and the non-public sector. We have made vigorous efforts to stimulate consumption and make domestic demand, particularly consumer spending the primary driver of economic growth. We have increased subsidies for farmers, raised the minimum purchasing price of grains, introduced performance-based salaries for primary and middle school teachers, and increased the basic cost of living allowances for urban and rural residents so that the people will be able to spend more. In order to boost consumption, we have offered subsidies for the program of bringing home appliances, agricultural machinery, automobiles and motorcycles to the countryside and the program of exchanging used automobiles and home appliances for new ones. Purchase taxes on small-engine and energy conserving and environment friendly cars have been cut by half. In the first seven months, a total of 7.31 million cars were sold and total retail sales of consumer goods rose by 15 percent.

HANGZHOU, Aug. 22 (Xinhua) -- Pakistani President Asif Ali Zardari said Saturday his country welcomes Chinese investors.     Zardari made the call during his visit to Hangzhou, capital of east China's Zhejiang Province, the first leg of his ongoing China tour. Pakistani President Asif Ali Zardari (C, front) attends the Forum on Pakistan-Zhejiang (China) Trade and Investment Opportunities: Current Co-operation and Future Prospects in Hangzhou, capital of east's China's Zhejiang Province, Aug. 22, 2009. With the gradual recovery of its economy, Pakistan is making efforts to explore new international markets and remove barriers for investment and trade so as to attract more foreign investment, Zardari told reporters in Hangzhou.     Zhejiang is one of the Chinese provinces which enjoy close exchanges with Pakistan. A total of 43 Pakistan companies have their businesses in Zhejiang, yielding fruitful results in silk, water conservation, agriculture, among others, according to Zardari.     Zardari said his country will introduce a package of favorable policies for businesses in Zhejiang to invest in Pakistan, which will inject a new vitality into its economy.     Officials from Pakistan's investment promotion departments said Chinese investors are needed by Pakistan's agriculture, hydro power and energy sectors. The infrastructure alone will require an initial investment of 110 billion U.S. dollars.     Chinese fruit preservers can also play a crucial role in Pakistan as about 40 percent of Pakistan's fruit can not be moved to other places due to the lack of freezing vehicles, according to Pakistani officials, who commented on the basis of anonymity.     Zardari was paying his fourth visit to China since taking office last September.     He attributed his frequent visits to the intent of bringing back home China's experience in development. Guests attend the Forum on Pakistan-Zhejiang (China) Trade and Investment Opportunities: Current Co-operation and Future Prospects in Hangzhou, capital of east's China's Zhejiang Province, Aug. 22, 2009.

MOSCOW, July 24 (Xinhua) -- A senior delegation led by Chinese Vice Minister of Commerce Gao Hucheng met with Russian officials on Friday and Saturday over the sudden closure of a market in Moscow.     On June 29, some 150 Chinese merchants and a large quantity of their goods were seized in a crackdown on smuggling at the Cherkizovsky Market, Moscow's biggest wholesale market.     The market was subsequently closed, causing heavy economic loss to the Chinese merchants who operate businesses there. No word has been given as to when the market will reopen.     Gao stressed the China-Russia strategic partnership of cooperation during his consultations with Deputy Director of the Russian Federal Migration Service, Yuri Buriak, Deputy Economic Development Minister, Andrei Slepnyov, and Deputy Foreign Minister Sergei Borodavkin.     Gao also spoke of the recent state visit of Chinese President Hu Jintao to Russia, the upcoming regular China-Russia Prime Minister's meeting in Beijing in October, and celebrations marking the 60th anniversary of the establishment of diplomatic ties between the two countries.     He said under such circumstances, China and Russia should try to maintain their friendship and mutual trust, and properly handle problems arising from the development of bilateral ties.     Non-governmental trade between China and Russia has its complicated historical origins, Gao said, and the remarkable contributions of Chinese merchants to the economic prosperity of Russia, especially during difficult times, should be taken into consideration.     He said against the backdrop of the current global financial and economic crisis in particular, to deal with the abrupt shutdown of the Cherkizovsky market appropriately and scrupulously would be mutually beneficial to China and Russia.     China has no objections to Russia's crackdown on smuggling, he said, but Moscow should effectively protect the property and dignity of Chinese businessmen.     Russian officials from relevant ministries and departments all agreed that the market shutdown would not affect the long-time friendship between the two countries.     They also emphasized that the shutdown was aimed at smuggling and not against the Chinese merchants, who make up less than 40 percent of all the merchants there.     The Russian side also urged the Chinese merchants to comply with laws, and said the Moscow municipal government had started to help merchants move their goods.     Slepnyov said a collective work plan against "grey customs clearances" will soon be studied.     Gao, who arrived in Moscow on Wednesday, was accompanied by a delegation comprising of officials from the ministries of commerce and foreign affairs, the General Administration of Customs, and trade officials from Zhejiang and Fujian provinces.     The delegation has also held negotiations with the Investigation Committee of the Prosecutor General's Office, the Federal Customs Service and the Moscow municipal government.

BEIJING, Sept. 17 (Xinhua) -- China's securities authority Thursday began reviewing applications of the the first seven IPOs for listing on the Growth Enterprise Market (GEM), a Nasdaq-style market in China.     The seven enterprises covered fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars).     The review meeting was for the first time opened to journalists, who were allowed to watch the meeting for about ten minutes.     The second batch of IPOs will be reviewed Friday and they plan to raise 1.13 billion yuan (165.30 million U.S. dollars), according to a report on the website of the China Securities Regulatory Commission (CSRC).     IPO review meetings would be concentrated on these days, a CSRC official, who declined to be named, told Xinhua Monday.     "IPO applications sent to the regulator were concentrated. The regulator had to take into consideration forming a block and guard against speculation that might push up IPO stocks prices," the official said.     The CSRC started to accept applications of the GEM on July 26 and had received 155 applications for IPOs on the GEM as of Sept. 10. The CSRC has formally agreed to handle 149 enterprises' applications that aim to raise 33.61 billion yuan (4.92 billion U.S. dollars).

BEIJING, Oct. 8 (Xinhua) -- As more people made return trips to go back home and work, China saw a traffic boom on Thursday. Road transport departments nationwide carried 62.23 million passengers on Thursday, up 9.0 percent over the same day last year, according to the Ministry of Transport (MOT).     In the eight-day holiday, a total of 488 million passengers made journeys by road transport, representing an increase of 6.8 percent over the same period last year. Passengers queue to receive security check at the subway station entrance of Beijing Railway Station in Beijing, capital of China, Oct. 7, 2009. As the National Day holidays are about to end, the railway transportation witnessed a travel peak all over the nation    Some 820,000 medium and large-size busses were put into use from Oct.1 to Oct. 8. Of the total, more than 80,000 were tourism buses.     According to the Civil Aviation Administration, 5.29 million people traveled by air during the holiday, up 7.8 percent over the same period last year.     He Jianzhong, the MOT spokesman said the transport departments made full preparations to cope with the 16th typhoon of this year, "Ketsana", dealing with 4 dangerous cases, involving 44 people.     Marine salvage departments put 72 ships and 12 helicopters into service during the holiday period, said He.

来源：资阳报