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BEIJING, Sept. 9 (Xinhua) -- Central banks should provide incentive mechanisms for banks to extend more loans to support the real economy, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), or the central bank, said Thursday.Speaking at a forum in Beijing sponsored by Oxford University and the China Development Research Foundation, Zhou reviewed the worldwide central banks' role in helping grapple with the financial crisis, pointing out that zero interest rate policies adopted in many countries could discourage banks from extending lending.He said, however, that a central bank should maintain a certain interest rate margin, which will help banks to recover from damages brought by the global credit crunch and strengthen their abilities to extend loans.

NEW YORK, Sept. 22 (Xinhua) -- Chinese Premier Wen Jiabao said on Wednesday that China and the United States should positively carry out a large-scale economic and trade cooperation.When meeting celebrities from the U.S. economic and financial community, Wen said political and strategic mutual trust should be the precondition of such cooperation.Since the establishment of diplomatic ties 31 years ago, China and the United States have developed a lot more common interests than differences. The two countries have strengthened strategic mutual trust, widened the basis for cooperation and deepened interdependence, Wen said.He said a sound and stable Sino-U.S. economic and trade relationship is in line with the fundamental interests of both countries.The total trade volume was 2.5 billion U.S. dollars when diplomatic ties were forged in 1979, while the figure has surged to over 350 billion dollars at present, Wen said, adding that it signified the bilateral economic and trade relationship has kept a sound momentum.China became the third biggest market for U.S. exports in 2009. Over the past three decades, the U.S. enterprises have altogether invested over 62.2 billion dollars in 58,000 projects in China, and in 2008 alone, their profits amounted to approximately 8 billion dollars, according to the official data provided by the Chinese government.Wen said the RMB exchange rate isn't responsible for the mounting U.S. trade deficits. The reason lies in the structure of Sino-U.S. investment and trade. Both countries should carry out a large-scale trade investment cooperation based on equality, mutual trust and mutual benefit.China has taken it as its national strategy to expand domestic demands, protect intellectual property rights and promote sustainable development, Wen said.Foreign companies in China have always enjoyed national treatment and are welcomed to play a more active role in boosting China's development, he added.During the discussion, participants from the U.S. side, including former U.S. Secretary of State Henry Kissinger and former Treasury Secretary Robert Rubin, also called for closer cooperation between the two countries, adding that China is a stabilizing factor for global economic and financial system.They said the development of a sound U.S.-China economic and trade relationship would benefit both sides. The two countries should hold dialogues in wider aspects and properly handle their frictions.During Wen's three-day visit here, he will address the UN summit on the Millennium Development Goals (MDGs), the general debate of the 65th session of the UN General Assembly, a summit of the UN Security Council member states and a high-level discussion panel on AIDS and MDGs.He will also meet some world leaders, UN Secretary-General Ban Ki-moon, Sino-U.S. friendship groups, overseas Chinese representatives and foreign media in New York.
TAIPEI, Sept. 18 (Xinhua) -- Counties and cities in Taiwan are bracing for the approaching typhoon Fanapi, as the local meteorological department forecasts it will make landfall over the eastern part of Taiwan early Sunday morning.Taitung, Yilan and Hualien counties announced schools were suspended as of Saturday night. Nantou county has evacuated some local residents living in danger areas in advance.The Maokong cable car, the longest one in Taiwan has halted operations.Tsengwen Reservoir, Taiwan's largest reservoir, has begun discharging water since Saturday noon, in preparation for heavy rains brought by Fanapi.TransAsia Airways, Mandarin Airlines and Uni Air have announced the cancellation of some Sunday flights.Some local farmers in Taitung County were racing against time to harvest crops, and fishing boats have returned to harbor.The eye of Fanapi was 420 kilometers east from Hualien County, as of Saturday noon, according to the local meteorological department.Taiwan will be prominently affected by Fanapi on Sunday and Monday, according to the forecast.
GUIYANG, Sept. 1 (Xinhua) -- China Wednesday called for the European Union to have a balanced, objective, comprehensive understanding of the world's largest developing country during an upgraded strategic dialogue held in the underdeveloped province of Guizhou.State Councilor Dai Bingguo told the EU side that despite rapid economic growth, China has no possibility to be arrogant, nor is it pretending to be a richer or poorer country than it actually is, with unfathomable strategic intentions, according to Vice Foreign Minister Fu Ying."China expects the EU to treat itself as an equal," Dai was quoted by Fu as telling EU High Representative for Foreign Affairs and Security Policy Catherine Ashton.The meeting was the fifth strategic dialogue between the two sides and the first since it was upgraded from vice foreign-minister level to its current level.China had made remarkable achievements since its reform and opening up to the outside, but it is still a developing country, Dai said.China has a clear understanding of its position in the international arena and its current level of development, Dai said, adding it will focus on economic development in the long run.China has not been, nor is, nor will be in the pursuit of hegemony, but adheres to the path of peaceful development, Dai said.China needs a peaceful international environment for development and its development will promote global peace and development, he said.Ashton echoed Dai, saying that the European Union should have a comprehensive understanding of China.The EU's view of China's development was one topic of the one-day closed-door meeting."It is one major aim of this strategic dialogue to enhance mutual understanding between China and the European Union. Both sides have a strong will to better understand each other and promote political mutual trust, so as to promote bilateral cooperation," said Chinese Vice Foreign Minister Fu Ying in an interview with Xinhua.The two sides also discussed the international situation and the development of the China-EU relationship.On the international situation, China urged all countries to join hands to cope with global challenges.On China-EU relations, China said it supports EU integration. The two sides should strengthen political dialogue, enhance strategic mutual trust, expand cooperation, properly handle sensitive issues and have more people-to-people exchanges, so as to promote a strategic partnership of cooperation.
来源:资阳报