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BEIJING, July 1 (Xinhua) -- Chinese Premier Wen Jiabao called for attention to "institutional and management loopholes" discovered in the auditing of central government budget in 2008 here Wednesday. Wen made the comment at the executive meeting of the State Council, China's Cabinet. All related authorities should take more effective measures to correct these problems, including revising the budget law, strengthening the monitoring and supervision of the new investment projects of the central government, and enhancing transparency in government affairs, Wen said. He also called for establishment of accountability mechanism and building of effective monitoring, alarm, emergency system directing at major economic risks. The correction result should be reported to the State Council by the end of October, Wen said. Wen also said that the execution and management of the central budget had made substantial improvement in general, and highlighted the importance of audit supervision. The meeting also approved plans to develop the coastal economic belt in northeastern Liaoning Province in an effort to rejuvenate the traditional industrial base. The zone comprises coastal cities of Dalian, Dandong, Jinzhou, Yingkou, Panjin and Huludao, which opened navigation services to more than 140 countries and regions. The economic zone should work to boost the opening up of northeast China, promote the shipping and logistics services, and push for the development of advanced manufacturing in the area.
WASHINGTON, June 10 (Xinhua) -- China's National People's Congress (NPC) and the U.S. House of Representatives have wrapped up their 10th meeting under a parliamentary exchange mechanism in Washington after having an in-depth exchange of views on bilateral ties, inter-parliamentary exchanges, global financial crisis, climate change and international and regional issues of mutual concern. The meeting, held here on Tuesday, was co-chaired by Chairman Li Zhaoxing of the NPC Foreign Affairs Committee and Representative Joseph Crowley, chairman of the counterpart exchange mechanism in the House. During the meeting, the Chinese side said that with growing common interests and greater opportunities of cooperation, China and the U.S. should further increase mutual trust and cooperation from strategic and long-term perspectives, respect and take care of each other's core interests, handle differences and sensitive issues with prudence, and ensure a healthy, stable growth of bilateral relationship. The U.S. side reaffirmed the importance it has attached to the U.S.-China relationship and said that the House of Representatives will work to help the two countries tackle issues such as global financial crisis, climate change and energy safety through further exchanges and dialogues with NPC. Both delegations agreed that the existing parliamentary exchange mechanism has become the most direct and effective platform for communications between the two sides and has played a positive role in deepening mutual understanding, building consensus and promoting cooperation. The two sides also discussed the necessity for the two countries to strengthen coordination in macro economic and financial policies and how to cooperate in dealing with the climate change issue. The Chinese side extended an invitation to the U.S. side on a visit to China in fall this year for the 11th meeting under the parliamentary exchange mechanism.

UNITED NATIONS, June 15 (Xinhua) -- China on Monday called for the peaceful resolution of the Iranian nuclear issue through diplomatic negotiations. La Yifan, minister-counselor of China's Permanent Mission to the UN, told a Security Council meeting that China has always called for resolving the Iranian nuclear issue through diplomatic negotiations in a peaceful manner. "China always believes that resolving this issue through diplomatic means is in the interest of peace and security in the Middle East and is in the common interest of the international community," he said. La said China is ready to continue to play a constructive role in this regard. At present, "rare opportunities" exist with regard to the restart of the negotiations with Iran over the nuclear issue, he said. La called on Iran to strengthen its cooperation with the International Atomic Energy Agency (IAEA) to resolve outstanding issues as early as possible. He also urged the international community to seize the opportunity to intensify diplomatic efforts so as to ensure an early start of the negotiations.
HONG KONG, May 18 (Xinhua) -- China will definitely be able to meet the target of achieving eight percent economic growth in 2009, a senior official of the country's top economic planning body said here Monday. "Judging from the indicators of the first four months, I do believe it is highly possible to achieve an eight percent growth for the full year. In fact, I believe the target will definitely be met," said Xulin, head of the Department of Fiscal and Financial Affairs of the National Development and Reform Commission. Speaking at a briefing in Hong Kong, Xu said the basic assessment was that there has been consolidation in the recovery momentum and that the minor slowdown in April, normal as it has been when considering the past experiences, did not necessarily signal a second bottom in the ongoing economic downturn. Economic planners have been monitoring the economy closely and are prepared to put in place additional measures in the coming months if it is necessary, Xu said. Post-earthquake reconstruction in Sichuan province was being carried out quicker than previously planned. Small and medium enterprises were receiving financing aid from guarantee programs, Xu told local as well as foreign reporters. The National Development and Reform Commission will approve 600 billion yuan (88 billion U.S. dollars) of corporate bonds this year as the IPO market remained cool, compared with 236 billion (35 billion U.S. dollars) for 2008, Xu said. The debt of the Chinese government was about 20 percent of gross domestic product, compared with over 190 percent for Japan, close to 100 percent for the United States and 60 percent on average for the European economies. The Chinese government has planned a budget deficit of 950 billion yuan (139 billion U.S. dollars) for 2009, which represented about 2.8 percent of gross domestic product. Xu said the ample resources could sustain heavy government investment to stimulate the economy for several years although "it was not necessary. "The Chinese government will spend more resources to develop public housing programs and a pension system and to push forward the health reform, so as to increase the contribution of domestic consumption to economic growth," Xu said. "I don't think export can still play the roles as they did in past few years in driving the Chinese economy," Xu said, adding that China, as a responsible player, would like to see a moderately stable yuan.
BEIJING, July 5 (Xinhua) -- The Chinese government has allocated more than 126 million yuan (about 18.4 U.S. dollars) for disaster relief in six worst rainstorm-hit provinces, autonomous regions or municipalities in south China, the Ministry of Civil Affairs said here Sunday. The six provinces, autonomous regions and municipalities include Guangxi, Jiangxi, Hunan, Hubei, Guizhou and Chongqing. A total of 5,200 tents were also sent to Guangxi, Jiangxi and Hunan to provide shelter for the people displaced there, the ministry said. While Beijing and neighboring provinces are fighting heat waves, the southern half of the country has been drenched in rain or flood since late June. The latest round of rainstorms and flood, also this year's worst according to the ministry, had battered 12 provinces, killing 75 people and leaving another 13 missing and 938,000 homeless as of 4 p.m. Sunday. Close to 40 million people were affected by the rainstorms and the flood, it said, adding that a total of 101,000 houses were toppled in the flood, causing over 13 billion yuan (about 1.9 billion U.S. dollars) in direct economic losses, it said.
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