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BEIJING, April 25 (Xinhua) -- Chinese President Hu Jintao said here on Friday that he hoped China and the European Union (EU) would enhance its dialogue and consultation to ensure the healthy and stable development of the China-EU all-round strategic partnership.     Hu made the remarks in a meeting with EU Commission President Jose Manuel Barroso.     He said it was not only in line with both sides' fundamental interests, but also conducive to the peace, stability and development of the world to further cement and step up China-EU ties under current circumstances. Chinese President Hu Jintao (R) meets with the European Union Commission President Jose Manuel Barroso in Beijing, April 25, 2008    "I hope the two sides would keep high-level visits and enhance dialogue and consultation, increase understanding and recognition for the policy trends of each other," Hu told Barroso.     Hailing the development of China-EU cooperation in recent years, Hu called to promote exchange and cooperation in various sectors, deepen coordination on key multilateral affairs and global issues, and properly handle and solve major concerns or disputes between the two.     Barroso said maintaining robust EU-China ties were vital to both sides and the international society.     It needed efforts from both China and the EU to safeguard international energy, finance, food safety and stability and solve global issues of climate change, sustainable development and terrorism, said the former Portuguese prime minister.     He said the EU was committed to developing a strategic partnership with China and was willing to solve disputes through dialogue on the basis of mutual respect and constructive spirit.     Barroso expressed appreciation for China's consistent support for the EU integrity, and wished the Beijing Olympics a success.     Vice Premier Wang Qishan attended the meeting.

GUANGZHOU/NANJING, July 4 (Xinhua) -- The first cross-Strait weekend chartered flight from China's mainland to Taiwan took off at 6:31 a.m. from Guangzhou, capital city of the southern Guangdong Province early Friday morning.     More than 100 mainland tourists aboard the Airbus A330 became the first group of people on a sight-seeing tour allowed to Taiwan amid warming cross-Strait ties. The flight has 258 passengers.     The historic flight by China Southern Airlines (CSA) is scheduled to land at Taipei Taoyuan Airport in Taiwan at 8:10 a.m. after a 1,124-km journey.     "I have been expecting to visit Taiwan, the Treasure Island, and my dream will finally come true today," mainland tourist Shi Anwei told Xinhua before boarding the plane. "I was too excited to sleep last night."     Following suit was a flight from Xiamen of eastern Fujian Province that took off at 7:16 a.m. The flight, MF881 by the Xiamen Airlines with 203 passengers, is expected to arrive at the Songshan Airport of Taipei at 8:51 a.m.     Each passenger witnessing the historical moment received a gift package from the airlines, which enclosed a model plane and map of Taiwan.     At a separate ceremony in East China's Nanjing City marking thecity as the fifth new city to conduct the cross-Strait chartered flight, Zheng Lizhong, mainland-based Association for Relations Across the Taiwan Strait (ARATS) Executive Vice Chairman, said the start of the weekend chartered flight and beginning of the mainland tourists' visit to Taiwan "is destined to open a new chapter in the cross-Straits cultural and economic communications."     A high-ranking mainland aviation official said that since Shanghai was chosen as the first city for cross-Strait flight operation five years ago, "there has been a small step each year, but they have amounted to a major step in the past five years."     "The ever more frequent and convenient flights across the Straits are not only improved means of transportation, they are also an emotional and cultural bridge for the people, and changed the way of thinking of both sides," the official said.     However, he said, real direct flight hadn't been realized yet as all of the planes flew to Taipei by way of Hong Kong.     Quoting Dr. Sun Yat-sen, the great pioneer of Chinese democratic revolution, the official said, "the real success is still in front and we need to work harder."     The first chartered flight from Nanjing started at 8:05 a.m.     Some 760 Chinese mainland tourists from Beijing, Shanghai, Nanjing, Xiamen and Guangzhou started the first weekend charter flight to Taiwan on Friday, three weeks after the mainland's Association for Relations Across the Taiwan Straits and the Taiwan-based Straits Exchange Foundation met last month.

BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis.     The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said.     "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council.     "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua.     OUT OF SLOWDOWN CONCERNS     The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25.     Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint.     Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua.     Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October.     China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters.     Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses.     Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating.     The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February.     "Inflation is no longer a threat with the declining commodities prices," Tang said.     The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook."     TAX CUT TO BOOST DEMAND     In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday.     China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007.     The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences.     The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said.     GLOBAL COORDINATED RESPONSE     The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said.     Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis.     The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent.     Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions.     Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.

BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday.     Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent.     "Currently the impact on domestic financial institutions is still limited," he said.     The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars).     The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year.     However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars.     "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report.     Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner."     Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis.     China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18.     The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001.     Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market.     However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence.     Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt.     From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics.     In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation.     Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation.     Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas.     Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.

BEIJING, April 28 (Xinhua) -- Jia Qinglin, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC),had a meeting with visiting Honorary Chairman of the Kuomintang Party (KMT) Lien Chan, his wife and his retinue.     Jia spoke highly of Lien's outstanding contribution to promoting the relationship between the CPC and the KMT and the cross-strait relations, as well as his role in fighting secessionist activities. Jia expressed his hope that the compatriots of the two banks will unite more closely and work together to open up a new chapter for the peaceful development of the cross-strait relations. Jia Qinglin (R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), proposes a toast to Honorary Chairman of the Chinese Nationalist Party, or Kuomintang (KMT), Lien Chan during a welcoming banquet held in the Great Hall of the People in Beijing, capital of China, April 28, 2008.     Jia thanked Taiwan people for their support to the Beijing Olympic Games as Lien has brought works of a Taiwan sculptor donated to the Beijing Olympic Sports Center. Mainland people will welcome athletes from Taiwan to participate in the Beijing Olympic Games in a most cordial manner, he said.     Jia recalled Lien's first journey to the mainland three years ago and the historic meeting between CPC Central Committee General Secretary Hu Jintao and Lien, then chairman of the KMT, which has turned over a new leaf for the CPC-KMT relationship.     The recent meeting between Hu and Vicent Hsiew in Bo'ao, Hainan Province, has received good response among people of different circles in Taiwan, which showed that Taiwan people have a common aspiration for strengthening the cross-strait exchange and cooperation, the CPPCC chairman said.     Lien also recalled his mainland trip three years ago which has been supported by the majority of the compatriots of the two banks, and the previous three economic and trade forums held by the two parties. He pledged to spare no efforts to safeguard the peaceful development of the cross-strait relations, so as to create a happy environment for the Chinese offsprings.     Jia hosted a banquet for Lien, his wife and his delegation

来源：资阳报