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SHANGHAI, Nov. 1 (Xinhua)-- HSBC has raised its forecast of China's GDP growth this year to 8.1 percent, said HSBC Group Chairman Stephen Green here Sunday. The bank's previous forecast was 7.8 percent. While attending the annual International Business Leaders' Advisory Council (IBLAC), Green said the world financial crisis has not derailed either of the two most noteworthy and transformative trends in global finance: "the rise of China and the shift from west to east." He also expected effects of China's stimulus packages would further lift the country's GDP growth and sustain the recovery momentum into 2010. Green said Shanghai, as China's largest city, had kept a relatively stable growth during the crisis, which suggested it had the potential to become one of the world's financial centers comparable to New York or London.
SHARM EL-SHEIKH, Egypt, Nov. 8 (Xinhua) -- The Fourth Ministerial Conference of the China-Africa Cooperation Forum (FOCAC) opened in the Egyptian Red Sea resort of Sharm el-Sheikh on Sunday. Chinese Premier Wen Jiabao, Egyptian President Hosni Mubarak and African heads of state or government attended the opening ceremony of the two-day conference, with the theme of "deepening the new type of China-Africa strategic partnership for sustainable development." The fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) opens in the Egyptian resort of Sharm el-Sheikh on Nov. 8, 2009Mubarak, who chaired the opening ceremony, said in a speech that FOCAC is to establish a new stage of relations between China and Africa and a partnership that Africa and China are looking forward to for peace, security and development. Egypt, which was the first African country to recognize the People's Republic of China more than half a century ago, supports the one-China policy and also supports FOCAC from the first day of its establishment, said Mubarak. This reflects the solid relations between the peoples of Africa and China throughout the history and is an effective model of fruitful South-South cooperation, he added. Chinese Premier Wen Jiabao attends the opening ceremony of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on November 8, 2009Mubarak urged efforts to deepen cooperation and sustainable development through FOCAC, calling for promoting cooperation between China and Africa on the bilateral and continental levels to support the African efforts to achieve peace and security as the main pillars of comprehensive development. The Chinese premier announced eight new measures the Chinese government will take to strengthen China-Africa cooperation in the next three years in his speech. Egyptian President Hosni Mubarak attends the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on November 8, 2009. The meeting kicked off here Sunday morning"Chinese people cherish the sincere friendship towards the African people, and China's support for Africa's development is concrete and real," said the premier. "Whatever change may take place in the world, our policy of supporting Africa's economic and social development will not change," Wen said. According to the eight new measures, China will help Africa build up financing capacity, and will provide 10 billion U.S. dollars in concessional loans to African countries and support Chinese financial institutions in setting up a special loan of 1 billion dollars for small- and medium-sized African businesses. For the heavily indebted countries and least developed countries in Africa having diplomatic relations with China, China would cancel their debts associated with interest-free government loans due to mature by the end of 2009, said Wen. The measures are also committed to building clean energy projects in Africa, carrying out joint scientific and technological demonstration projects with Africa, training agricultural technology personnel for Africa and offering assistance on medical care, health, human resources development and education. The eight new measures, which succeeded eight measures put forward by Chinese President Hu Jintao at the landmark Beijing Summit of FOCAC in 2006, stressed more on improving the African people's living standard, Wen said at a press conference after the opening ceremony. Sudanese President Omar al-Bashir expressed his gratitude towards the Chinese government for its sincere efforts to develop its relations with African countries over the past years and to boost development in Africa. He said China has fulfilled its commitments made at the 2006 Beijing Summit to assist Africa in the fields of energy, roads and infrastructure, as well as in the critical area of fighting against serious diseases. Al-Bashir said great achievements have been accomplished by China and Africa under a strategic partnership within the framework of FOCAC, adding that more hard work and commitments are required to carry out the strategic plans, especially in the areas of agriculture, food security and infrastructure. Zimbabwean President Robert Mugabe praised the "strategic cooperation" between China and Africa, saying it represented the culmination of the friendship between the two sides. According to Mugabe, a number of countries in the Common Market for Eastern and Southern Africa region have achieved significant progress in their trade exchanges with China, mainly due to the Chinese measures to increase the number of exported items receiving duty-free entry into their markets. Central African Republic President Francois Bozize said both China and Africa faced great challenges, including natural disasters and climate changes, so both sides should continue working together to deepen their friendship in all fields. Chinese Foreign Minister Yang Jiechi presented to the conference a report on the implementation of the outcomes of the Beijing Summit. The main agenda of the conference is to review the implementation of the follow-up activities of the FOCAC Beijing Summit and the third ministerial conference and explore new initiatives and measures on Sino-African cooperation in priority areas such as human resources development, agriculture, infrastructure development, investment and trade. The FOCAC, a collective consultation and dialogue mechanism between China and African countries launched in 2000, is the first of its kind in the history of Sino-African relationship. It is a major and future-oriented move taken by both sides in the context of South-South cooperation to seek common development in the new situation. The previous three ministerial conferences were held in Beijing, Addis Ababa and Beijing respectively.
BEIJING, Jan. 8 (Xinhua) -- China issued a directive Friday that aims to promote renovation of the substandard dwellings in the country's urban areas and at state-owned factories and mines, in a move to improve the livelihood of low-income people. Renovation of squatter homes in cities and at state-owned factories should be completed in the next fives years, according to the directive posted by the Ministry of Housing and Urban-Rural Development on its website. Priority should be given to "the shanty towns covering large areas and with severe safety defects," according to the ministry. It also urged relevant departments to give full respect to the rights and interests of the people living in substandard dwellings, who are mainly low-income laid-off workers, and to ensure that renovating work be conducted in an open and fair way. The directive put forward multiple ways to finance the renovation work, including government funds, favorable loans from financial institutions, and tax rebates. By the end of 2008, China had 11.48 million families living in substandard housing, 7.44 million of which lived in cities, 2.38 million near state-owned plants and mines, 1.66 million in forest zones and reclamation areas.
BEIJING, Dec. 19 (Xinhua) -- Chinese Premier Wen Jiabao brought hope and confidence to the world in its fight against climate change by attending the summit of the UN Climate Change Conference in Copenhagen, Foreign Minister Yang Jiechi said Saturday.Yang, who had accompanied Wen during his visit on Thursday and Friday, said climate change profoundly affected mankind's existence and development, imposed a critical challenge to the world, and should be tackled by all countries jointly. The Copenhagen conference was an important opportunity to boost international cooperation in combating climate change, Yang said. Under the joint efforts of all parties, the conference yielded significant and positive fruits in three aspects, he said. First, it firmly upheld the principle of "common but differentiated responsibilities" set by the UN Framework Convention on Climate Change and the Kyoto Protocol. Second, it made a solid step forward in promoting developed countries' binding emissions cuts and developing countries' voluntary mitigation actions. Third, it produced important consensus on the key issues of long-term global emissions cut targets, funding and technology support to developing countries, and transparency. Yang said Premier Wen's attendance at the summit showed the Chinese government took a highly responsible attitude toward the Chinese people, all peoples in the world and mankind's future. Over the last two days, Wen delivered an important speech to the summit, kept close contact with many parties, communicated and coordinated with them, overcame various difficulties, and guided action according to situation. He adopted a principled but flexible attitude, broke his back to move the climate talks forward on the right track, and played a pivotal role in the climate talks. Wen's attendance contributed to the global fight against climate change mainly in three fields, Yang said. FIRST, ABIDING BY PRINCIPLES, MAINTAINING A FOUNDATION FOR COOPERATION Yang said developing and developed countries were very different in their historical emissions responsibilities and current emissions levels, and in their basic national characteristics and development stages, therefore they should shoulder different responsibilities and obligations in fighting climate change. According to Yang, Wen told the conference the international community must adhere to the following four principles to combat climate change. First, maintaining the consistency of outcomes: The outcome of this conference must stick to rather than obscure the basic principles enshrined in the Convention and the Protocol. It must follow rather than deviate from the mandate of the "Bali Roadmap." It should lock up rather than deny the consensus and progress already achieved in the negotiations. Second, upholding the fairness of rules: The principle of "common but differentiated responsibilities" represents the core and bedrock of international cooperation on climate change and it must never be compromised. Developed countries must take the lead in making deep quantified emission cuts and provide financial and technological support to developing countries. Developing countries should, with the financial and technological support of developed countries, do what they can to mitigate greenhouse gas emissions and adapt to climate change in the light of their national conditions. Third, paying attention to the practicality of the targets: In tackling climate change, the world needed to take a long-term perspective, but more importantly, focus on the present. It was important to focus on achieving near-term and mid-term reduction targets, honoring the commitments already made and taking real action. One action was more useful than a dozen programs. The conference should give people hope by taking credible actions. Fourth, ensure the effectiveness of institutions and mechanisms: The international community should make concrete and effective institutional arrangements under the Convention to have developed countries honor their commitments, provide sustained and sufficient financial support to developing countries, speed up the transfer of climate-friendly technologies and effectively help developing countries strengthen their capacity in combating climate change. Yang said Wen's propositions reflected developing countries' common stance. The propositions were reasonable and lawful, based on the present, faced the future, addressed all parties' interests, pointed out the direction for the climate conference when it was at the crossroads, effectively kept and boosted the talks, and won wide support and praise.
BEIJING, Oct. 19 (Xinhua) -- An Economic Cooperation Framework Agreement (ECFA) could make the Chinese mainland and Taiwan complement each other and achieve the best win-win results, Yao Jian, spokesman of the Ministry of Commerce (MOC), said here Monday. "The ECFA could enhance the well-being of the people across the Taiwan Straits," Yao said in a statement on the ministry's website. He added that with increasingly strengthened cross-Straits economic cooperation, the signing of the ECFA should be in line with the development of the cross-Straits relationship and the characteristics of the mainland-Taiwan economic and trade cooperation. The ECFA would help reduce trade barriers gradually and bring positive effects to the economies, trade and most industries across the Straits, according to a latest research report completed by the academy of international trade and economic cooperation under the MOC. Official figures revealed that the combined cross-Straits trade volume stood at 129.22 billion U.S. dollars in 2008.