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TAIPEI, Jan. 8 (Xinhua) -- The mainland-donated panda pair is scheduled to meet the Taiwan public on Jan. 26, the first day of the Chinese Lunar New Year, the Taipei city government announced on Thursday. Taipei mayor Hau Lung-bin will visit the panda pair a few days earlier, on Jan. 24, with 500 orphans and children from poor families. "If all the quarantine measures for the panda pair and other procedures for their moving into the zoo go well as scheduled, the 500 children invited by the city government will be the first visitors on Jan. 24," Hau said. The Taipei city zoo said an opening ceremony for the panda enclosure would also be held on Jan. 24. The area would be open to the public on the morning of Jan. 26. It's estimated an average of 22,000 panda visitors per day will come to the enclosure once it's opened, according to the zoo. To accommodate the crowds, the zoo will extend business hours until 18:00 p.m. during the Spring Festival holidays. The city government said earlier in a statement that the pandas were expected to attract about 6 million visitors to the zoo annually, double the current number. The pair of 4-year-old giant pandas named "Tuan Tuan" and "Yuan Yuan" (when linked, their names mean "reunion" in Chinese), have now become "sweethearts" on the island. Cartoon images of the bears are displayed at bus stations and the airport's entrance. The mainland announced in May 2005 it would donate two giant pandas to Taiwan. Their departure had been delayed for more than three years. Improved cross-Straits ties made their journey to Taiwan possible.
LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the central government would take effective measures to help Hong Kong to ward off the impact of the global financial crisis, safeguard the stability of financial markets and boost economic growth. Hu made the remarks during a meeting with Donald Tsang, chief executive of the the Hong Kong Special Administrative Region (HKSAR) of China. Hu expressed his belief that as long as the HKSAR government and people from all circles could be united, the region would maintain its long-term prosperity and stability. Donald Tsang briefed the president on his government's efforts in dealing with the current financial crisis and voiced his appreciation for the central government's support to Hong Kong. Chinese President Hu Jintao (2nd R) and his wife Liu Yongqing (1st R) meet with Donald Tsang Yam-kuen (2nd L), chief executive of China's Hong Kong Special Administrative Region, and his wife Selina Tsang in Lima, capital of Peru, Nov. 22, 2008. Hu Jintao and Donald Tsang Yam-kuen are in Lima to attend the Economic Leaders' Informal Meeting of the APEC forum slated for Nov. 22-23. The HKSAR government would continue to make efforts to safeguard the financial and economic stability in the region, the Hong Kong chief said. Hu also said China went through a lot of big events and difficulties this year, in which Hong Kong compatriots always stood together and shared weal and woe with the people on the mainland. Hu spoke highly of the disaster-relief efforts provided by the Hong Kong SAR government and people after the May. 12 earthquake to southwest China's Sichuan Province, saying that they had made contributions to the success of China's quake-relief work. The president said Hong Kong has also successfully completed the task of co-organizing the equestrian competition event of the 2008 Beijing Olympic and Paralympic Games. The central government would always support Hong Kong and Macao SAR in coping with and overcoming various difficulties, President Hu told the Hong Kong chief. Both Hu and Tsang are in the Peruvian capital of Lima to attend the 16th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC).
BEIJING, Oct. 30 (Xinhua) -- China will adopt preferential fiscal and investment policies to boost economic development and trade in border areas, said the Ministry of Finance (MOF) on Thursday. As of Nov. 1, residents who live in the border will be exempted from taxation of the daily necessities such as food and cloth costing in total no more than 8,000 yuan (1,171.3 U.S. dollars) per individual in one day. Fiscal departments at all levels of government will allocate funds to support enterprises that engage in small-amount trade in border areas as of Nov. 1. But the MOF didn't reveal how much money would be allocated. The amount of the fund is expected to increase every year, and no limitation was set on the period, said the MOF
Chinese Vice Premier Li Keqiang (front, 2nd R), also member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, visits a manufacturing factory of the Commercial Aircraft Corporation of China Co., Ltd. (COMAC) in east China's Shanghai municipality Dec. 12, 2008. Li inspected Shanghai from Dec. 12 to Dec. 13, 2008. SHANGHAI, Dec. 14 (Xinhua) -- China's vice premier Li Keqiang stressed the priority to maintain stable, healthy economic growth through domestic demand expansion and economic restructuring during his two-day inspection tour in the eastern metropolis of Shanghai. He said the economic development was the foundation for solving all problems. As the central government had pointed out, priority should be given to maintaining stable and relatively fast economic growth next year. This would be achieved through expanding domestic demand, restructuring the economy and transforming the growth pattern. All would ultimately target improving people's living standard. Chinese Vice Premier Li Keqiang (C), also member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, visits the Yangshan Port in east China's Shanghai municipality Dec. 12, 2008. Li paid a visit to the city from Dec. 12 to 13. He expressed appreciation for the progress Shanghai made in developing the Pudong New District and said the only way to sustain growth was to "deepen the opening-up". He urged local authorities to let the market play a fundamental role in the allocation of resources, step up innovation in corporate management. While visiting Yangshan Deep Water Port, he said planers need a "broad vision", adding that efforts should be made to sustain and expand export to sharpen the country's competitive edge in the global market. During his inspection tour at local companies such as Baosteel Group Co. and China UnionPay, he said companies were the main drive of domestic demand expansion. They must accelerate technological innovation and structural adjustment. Meanwhile, local government should encourage development of service industry, as well as advanced equipment manufacturing and high-tech industries, he said. The vice premier also visited local communities and chatted with residents. He said the government would continue promoting reforms in the housing and medicare systems. The ultimate goal was to improve people's living condition.
BEIJING, Dec. 8 (Xinhua) -- China's annual Central Economic Work Conference opened here Monday to set tone for the economic development next year. Observers believed the three-day event would give priority to efforts to maintain stable economic growth. They reckoned in 2009, China would see more risks for worse economic slowdown, more struggling smaller businesses, grim export situation and arduous task of transformation of economic growth pattern. "It is imperative for China to maintain an economic growth of at least 8 percent," said Zhuang Jian, senior economist with Asian Development Bank's China Resident Mission. It was hard for China to bear the consequences of a too slow GDP growth, Zhuang added, citing bankruptcy of numerous enterprises, more migrant workers being laid off and difficulties for college graduates to find jobs. China's macro-economic policies experienced a dramatic adjustment-- from "preventing economic overheating and curbing inflation" at the beginning of this year to "maintaining growth through expanding domestic demand" at present. In the first three quarters, the nation saw its GDP growth slowed to a single-digit rate for the first time over the past five years, thanks partly to macro-economic control efforts and the ongoing financial woes worldwide. "The Chinese economy has suspended continuous heating and proceeded into a period of slow down," Zhang Liqun, a researcher with the macro economy department under the Development Research Center of the State Council, commented. "The slowdown was worse than expected," said Ma Jiantang, head of the National Bureau of Statistics. Data from the bureau showed that the country's GDP growth was 10.6 percent in the first quarter, 10.1 percent in the second, and9 percent in the third. President Hu Jintao said at the end of November that the Chinese economy was pressurized by global economic downturn, obvious ebbing of demand from abroad and weakening of the country's traditional competitive edge. "Impact from the international financial tsunami on the Chinese economy has begun to show up, and to deepen into various sectors of the real economy," said Wang Yiming, deputy head of the macro economic research institute of the National Development and Reform Commission. Since mid October, the Central Government has promulgated a string of policies and measures to prevent the national economy from sliding drastically. They included end of a tight monetary policy and commencement of a moderately easy one, shifting the fiscal policy from "prudent" to "active", starting projects to improve infrastructure and promote people's livelihood, and, expanding domestic demand. The People's Bank of China announced tax exemptions and downpayment cuts as of Oct. 27 to boost the falling real estate sector. The minimum downpayment for a first-time buyer of a residence smaller than 90 square meters was reduced to 20 percent from 30 percent. Interest rates on mortgages for first-time buyers were cut 0.27percentage point. The floor for interest rates was lowered to 70 percent of the central bank's benchmark rate. The central bank cut benchmark interest rates by 0.27 percentage point as of Oct. 30, the third such move in six weeks. The benchmark one-year deposit rate dropped to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate fell from 6.93 percent to 6.66 percent. Tax rebates were raised for 3,486 export items as of Nov. 1. The adjustment covered such labor-intensive industries as textiles, toys, garments, and high-tech products, accounting for 25.8 percent of products covered by customs tariffs. Rebate rates run roughly from 9 percent to 14 percent. On Nov. 9, state councilors announced a four-trillion-yuan (583.9 billion U.S. dollars) economic-stimulus package, which was seen as the most exciting stimuli in 10 years. To boost consumption, particularly in the rural areas where 900 million people inhabited, was important part of efforts to expand domestic demand, observers believed. China has launched a scheme to subsidize rural residents for buying home appliances since the end of 2007. It is estimated that in a period of four years, nearly 480 million units of refrigerators, washing machines, color TV sets and cell phones, which were in huge demand among farmers, will be sold in rural areas nationwide. That means 920 billion yuan to be spent by rural consumers. "There is still a large room for the government to mull more policies to boost consumption, such as raising the threshold for taxable income and increasing income for lower-income earners," said Cai Zhizhou, an economist with the prestigious Peking University. Export has since long been a major driving force for the Chinese economy. Economists believed the stable development of smaller enterprises, particularly the exporters, which provided jobs for 75 percent of urban employees and rural migrant workers, was related to the stability of the enormous Chinese labor market. How to prevent export from sliding down too fast is one of the top concerns of the Chinese government. "It is no doubt that China's export situation will become more grim next year. However, if the country manages to maintain a moderately fast growth in foreign sales of machines and electronics, it will likely achieve a growth of more than 15 percent in export at large," said Mei Xinyu, a trade expert with the Ministry of Commerce. China has taken a string of measures to boost development of smaller enterprises. "It is necessary for the government to work out more detailed, effective methods to mitigate tax burdens and enhance credit support for smaller businesses, and to help them with their efforts to promote technical upgrading and explore more markets," said Zhao Yumin, another economist with the Ministry of Commerce. The service sector, which was able to provide numerous jobs, was yet to be expanded substantially, Zhao added. Zhang Xiaojing, a senior economist with the Chinese Academy of Social Sciences, said that it was definitely wrong for China to waive long-term goals for short-term interests. He believed that to promote the shift of economic growth pattern and maintain the sustainable economic growth would be one of the important topics for the ongoing Central Economic Work Conference.