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BEIJING, May 6 (Xinhua) -- China and Portugal agreed here Wednesday to enhance friendly exchanges and cooperation.     Top Chinese legislator Wu Bangguo and top Chinese political advisor Jia Qinglin met with Portuguese parliament speaker Jaime Gama on Wednesday.     Wu, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, spoke highly of China-Portugal relations and noted that China always conducted its ties with Portugal from a strategic, long-term perspective and is ready to advance their comprehensive strategic partnership. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Jaime Gama, speaker of Portugal's Assembly of the Republic (Parliament), at the Great Hall of the People in Beijing, capital of China, May 6, 2009    He called on the two countries to maintain the momentum of high-level contacts, forge stronger economic and trade ties, intensify personnel exchanges and strengthen consultation and coordination in international organizations.     Gama, who is visiting China from May 5 to May 9 at the invitation of Wu, said that Portugal highly appreciated China's responsible attitude and effective policies adopted in tackling the world financial crisis and expressed the hope of furthering Portugal-China cooperation.     Earlier Wednesday, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, also met with Gama.     Jia said the CPPCC hoped to enhance friendly relations with the Portuguese parliament and play an active role in promoting the development of bilateral relations.     Gama said Portugal is willing to strengthen Portugal-China cooperation and exchanges in the fields of politics, economy, culture and science and technology.Jia Qinglin (R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with Jaime Gama (L Front), speaker of Portugal's Assembly of the Republic (Parliament), at the Great Hall of the People in Beijing, capital of China, May 6, 2009.

VIENNA, May 16 (Xinhua) -- Chinese top legislator Wu Bangguo and Austrian Acting Chancellor Josef Proll met here on Saturday, with both sides agreeing to expand bilateral trade and economic cooperation in the fight against the ongoing world financial crisis.     Wu, chairman of the Standing Committee of China's National People's Congress (NPC), said China's development has provided even greater room for expanding economic and technological cooperation with Austria. Wu Bangguo (L Front), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Austrian Acting Chancellor Josef Proll (R Front) in Vienna, capital of Austria, May 16, 2009Proll said the financial crisis had incurred a serious impact on Austria's economy. In the process of addressing the consequences of the financial crisis, the Austrian government places great importance on strengthening economic and technological relations with China.     China witnessed an economic growth of 6.1 percent in the first quarter of this year, while Austria's economy contracted 2.8 percent in the same period.     Noting that the two economies are highly complementary, Wu said China has a huge market and Austria has advanced technologies in many fields. He said China is ready to expand cooperation with Austria in such areas as energy efficiency, environment protection, water conservancy, eco-agriculture, auto parts and clean energy, so as to foster new growth spots of both economies.     Proll said Austria will actively transfer advanced technology to China in a bid to expand cooperative areas and carry out large-scale projects. He said that the two countries should turn their economic complementarity into real fruits of cooperation, so as to help the Austrian economy to rally and bring benefits to the people of both countries.     Wu said both sides should encourage their companies to seek new cooperative opportunities brought about by the governments' economic stimulus measures.     Wu noted that the Chinese government's policy package to counter the impact of the financial crisis has achieved initial results. China is now focusing on restructuring the economy and changing the pattern of growth in a bid to attain sustainable growth.     He said the governments of both countries should create favorable conditions for and facilitate the flow of travelers and cooperation between companies of the two countries.     Proll said that he agreed with Wu.     Wu also met on Saturday with Barbara Prammer, president of the Austrian National Council, or the lower chamber of the parliament. Wu Bangguo (L front), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Austrian National Council President Barbara Prammer (R front) in Vienna, capital of Austria, May 15, 2009During his meeting with Prammer, Wu said Austria is an important cooperative partner of China in Europe. Prammer said Wu's visit reflects the closeness of relations between the two countries.     Reviewing the regular contact between the governments, parliaments, political parties and local governments of the two countries, Wu said greater political trust, rapidly growing trade and increasing cultural exchanges helped enhance popular mandate to the expansion of bilateral relations.     Prammer said as bilateral links and cooperation in various fields grow smoothly, more and more Austrian people are now willing to learn about China. She said the social basis and popular mandate for expanding Austria-China relations are growing, which will cast a bright future for bilateral cooperation.     Wu expressed appreciation that the new government and newly-elected parliament of Austria have given priority to developing relations with China. In order to lift bilateral links to a new level, Wu suggested that the two sides should maintain the current momentum of high-level contact and further deepen political trust.     Wu said the parliaments of the two countries should strengthen friendly relations by carrying out exchanges at all levels and in all forms. He welcomes more and more Austrian parliamentarians to visit China.     The top Chinese lawmaker suggested that the two countries should further expand trade, investment and economic cooperation by utilizing their specific advantages. Under the circumstances of the spreading world financial crisis, it is of greater significance to strengthen such cooperation, he said.     China welcomes Austrian companies to explore business opportunities in the country and participate in the 2010 Shanghai World Expo, said Wu.     He also suggested that the two sides should enhance cooperation in such areas as culture, tourism, local governance and education.     He said the two countries should also have even closer cooperation on international affairs. They should join hands to oppose any forms of trade protectionism and push for the establishment of a fair, just, inclusive and orderly financial system in the world.     Wu said both countries can make contribution to maintaining stability of the international financial market and promoting recovery of the world economy.     In response, Prammer said Austria places its relations with China on an important position in its foreign policy. She said Austria is ready to expand the flow of people traveling between the two countries so as to enhance mutual understanding and trust. She also expressed the willingness to further deepen bilateral links in such areas as local contact and cultural exchanges.     She said the parliament of Austria will have closer cooperation with the NPC to promote the development of Austria-China relations.     Wu is in Vienna for an official goodwill visit. He is the first NPC chairman to visit the country in 15 years. 

BEIJING, June 17 (Xinhua) -- Chinese Premier Wen Jiabao said Wednesday China's economy is at a critical moment as it begins to recover "steadily".     Wen told an executive meeting of the State Council, China's Cabinet, that economic performance had started to show positive changes, favorable factors were increasing, the overall situation had stabilized and was moving upwards.     He said the government should continue a pro-active fiscal policy and moderately relaxed monetary policy.     Investment growth kept accelerating, consumption maintained a rapid and steady increase, and domestic demand played a stronger role in boosting economic growth, said Wen.     Agricultural and industrial production grew, and regional coordinated development was making progress, said Wen.     The financial market was stable, and investor confidence stronger. Urban employment kept rising, and reconstruction of areas affected by last year's May 12 earthquake was speeding up, said Wen.     Government measures to fight the global economic crisis proved correct and effective, and should continue to be implemented and improved according to the changing situation, he said.     But it should also be noted that the foundation for economic recovery was not stable and many uncertainties remained, said Wen, citing sluggish exports, the fiscal deficit and trade protectionism.     Wen called for clear-headed judgment and readiness for difficulties and complexities that might occur in the long term.     He urged local governments to further promote economic restructuring, guarantee the stable development of agriculture, encourage technological innovation and work to enhance energy conservation and environmental protection.     Comprehensive efforts should be made to boost domestic demand to power economic growth, Wen said, singling out such measures as subsidies for home appliances and automobiles in rural areas.     Housing consumption should be properly guided and the stable, healthy development of the property market should be ensured, said Wen, adding that tourism, entertainment and cultural consumption should be developed.     Central government-invested programs should be carefully carried out, while private investment should be expanded, said Wen.     He also highlighted the importance of the coordinated development of urban and rural areas, called for the further deepening of reform and opening up and the building of social insurance systems.

ROME, May 21 (Xinhua) -- China's top legislator Wu Bangguo met with Italian President Giorgio Napolitano here on Thursday afternoon, and the two leaders exchanged views on how to address the current global financial crisis.     Wu, chairman of the Standing Committee of the National People's Congress (NPC), the top Chinese legislature, said China is positive about the results of the London G20 summit and appreciates the efficient efforts that Italy has made in preparation for the dialogue meeting between the leaders of G20 countries and five major developing countries (8+5 dialogue). Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress of China, talks with Italian President Giorgio Napolitano in Rome, May 21, 2009.     Wu emphasized that against the background that the financial crisis continues to spread in the world, the international community should strengthen cooperation by implementing the consensus of the G20 summit, curbing the slide of economy and opposing protectionism. In the meantime, the international community should push forward reform of the international financial system and establish a new order of world economy.     Napolitano agreed with Wu's comment, saying that the global impact of financial crisis proved the increasingly close links among different economies. He said global challenges call for a globalized resolution. Italy is ready to strengthen cooperation with China and other developing countries at the 8+5 dialogue.     Napolitano stressed that Italy will join hands with China to firmly oppose trade protectionism and address the international financial crisis.     On China-EU relations, Wu said a strong Europe and a developing China share broad common interest and can contribute to world peace and development. He said China supports the integration process of the European Union, adding that the EU should play an active role in regional and international affairs.     Wu said China places great importance on developing relations with the EU. He expressed the wish to deepen practical cooperation in all fields and expand trade and investment. He said the two sides should carry out dialogues and communication on major issues on the basis of mutual respect of sovereignty and non-interference in each other's internal affairs.     Napolitano said as an important member of the EU, Italy is ready to play a constructive role in the regional bloc and help push for a healthy, stable development of EU-China relations.     Napolitano said China's development will not only benefit the Chinese people, but also contribute to peace and development of the world.     Wu said that China is still a developing country, with its per capita GDP ranking below 100th place in the world. He said China will continue to focus on development by working on economic restructuring and industry upgrading. China has adopted composite measures to address both current difficulties and long-term need so as to achieve all-round, balanced and sustainable development.     Wu is on an official goodwill visit to Italy.

WASHINGTON, April 22 (Xinhua) -- The International Monetary Fund on Wednesday warned that the global economy was in "a severe recession" and the world output is projected to decline 1.3 percent this year, the deepest global recession since the Great Depression in 1930s.     "The global economy is in a severe recession inflicted by a massive financial crisis and acute loss of confidence," said the IMF in its latest World Economic Outlook report. "All corners of the globe are being affected." 　　EPICENTER OF CRISIS     According to the report, the world economy is projected to decline by 1.3 percent in 2009 as a whole and to recover only gradually in 2010, growing by 1.9 percent.     "Achieving this turnaround will depend on stepping up efforts to heal the financial sector, while continuing to support demand with monetary and fiscal easing," said the IMF.     The advanced economies experienced an unprecedented 7.5 percent decline in real GDP during the fourth quarter of 2008, and output is estimated to have continued to fall almost as fast during the first quarter of 2009, according to the report.     Although the U.S. economy may have suffered most from intensified financial strains and the continued fall in the housing sector, western Europe and advanced Asia have been hit hard by the collapse in global trade, as well as by rising financial problems of their own and housing corrections in some national markets.     Emerging economies are suffering badly and contracted 4 percent in the fourth quarter in the aggregate.     The United States, at the center of an intensifying global financial storm, will contract by 2.8 percent this year, said the IMF, adding that "the biggest financial crisis since the Great Depression has pushed the United States into a severe recession."     Meanwhile, the euro zone economy will shrink by 4.2 percent this year and fall a further 0.4 percent in 2010, the IMF said, criticizing the bloc for weak public policy responses and coordination.     In Japan, the IMF expects 2009 output to fall 6.2 percent, far worse than its January forecast for a 2.6 percent decline.     China is expected to slow to about 6.5 percent this year, half the 13 percent growth rate recorded pre-crisis in 2007 but still a strong performance given the global context, according to the IMF.     UNCERTAIN OUTLOOK     The IMF warned the financial crisis remains acute. "The financial market stabilization will take longer than previously envisaged, even with strong efforts by policymakers," it said.     Thus, financial strains in the mature markets are projected to remain heavy until well into 2010, and overall credit to the private sector in the advanced economies is expected to decline in both 2009 and 2010.     Meanwhile, emerging and developing economies are expected to face greatly curtailed access to external financing in both years.     In a semi-annual report Global Financial Stability Report (GFSR), which was released on Monday, the IMF said write-down on U.S.-originated assets to be suffered by all holders will be 2.7 trillion dollars, "largely as a result of the worsening base-case scenario for economic growth."     Total expected write-downs on global exposures are estimated at about 4 trillion dollars, of which two-thirds will fall on banks and the remainder on insurance companies, pension funds, hedge funds, and other intermediaries.     In the latest World Economic Outlook report, the IMF warned that the current outlook is exceptionally uncertain, with risks weighed to the downside.     The crisis has hurt international trade, with volume expected to plunge 11 percent this year before eking out 0.6 percent growth in 2010.     Consumer prices in developed countries were under pressure and would fall 0.2 percent in 2009.     "Even once the crisis is over, there will be a difficult transition period, with output growth appreciably below rates seen in the recent past," said the IMF.     BOLD POLICY     The IMF called for its members to take new bold policy stimulus to jump-start their economies.     "This difficult and uncertain outlook argues for forceful action on both the financial and macroeconomic policy fronts," said the IMF.     Past episodes of financial crisis have shown that delays in tackling the underlying problem mean an even more protracted economic downturn and even greater costs, both in terms of taxpayer money and economic activity.     "Policymakers must be mindful of the cross-border ramifications of policy choices," said the IMF. "Initiatives that support trade and financial partners will help support global demand, with shared benefits."     In advanced economies, scope for easing monetary policy further should be used aggressively to counter deflation risks.     Although policy rates are already near the zero floor in many countries, whatever policy room remains should be used quickly, according to the IMF.     Emerging economies also need to ease monetary conditions to respond to the deteriorating outlook.     However, in many of those economies, the task of central banks is further complicated by the need to sustain external stability in the face of highly fragile financing flows, the IMF warned.     The 185-member organization also warned against the rising protectionism.     "Greater international cooperation is needed to avoid exacerbating cross-border strains," said the IMF. "Coordination and collaboration is particularly important with respect to financial policies to avoid adverse international spillovers from national actions."     "A slide toward trade and financial protectionism would be hugely damaging to all, a clear warning from the experience of 1930s beggar-thy-neighbor policies," it warned.