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BEIJING, Dec. 1 -- Amid the coupling effects of shrinking global demand and rising operating costs, it has been a dramatic upheaval this year for domestic small and medium-sized enterprises (SMEs) after China started its reforms 30 years ago.    Even as the scene appears a bit scary, there is still a ray of hope if only entrepreneurs note the writing on the wall and go all out to cut costs before they raise the clamor for a bailout.Two women make beds on a production line of the small private firm Nangang Shoemaking Factory in Foshan, Guangdong province.In the first half of 2008, much before the world saw the capital markets going topsy turvy amid the global economic slowdown, over 67,000 SMEs in China went bankrupt, while more than 10,000 labor-intensive textile enterprises downed shutters, according to figures from the Department of SMEs under the National Development and Reform Commission.    In October, 714 companies were closed in Dongguan in Guangdong province, home to over 60,100 private companies and a major manufacturing center in China.     "We will see more companies closing in the coming months, with the figure likely to cross 1,000 after Christmas," says Dongguan Deputy Mayor Jiang Ling.     Most of the international buyers of Chinese products failed to get letters of credit in October leading to significant cancellations of Christmas orders, says Frank FX. Gong, chief China economist at JPMorgan Securities (Asia Pacific) Limited in a recent report. "Indeed, 'things suddenly ceased' was the common comment we heard on the ground lately," he says.     But for some like Luo Chun, sales director of tin box maker Dongguan Tinpak Co, the freeze on Christmas orders has not yet meant closing. Luo says overseas order fell by 10 percent from June to October, normally the peak time for Christmas orders.

Wu Bangguo, Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008.     BEIJING, Dec. 15 (Xinhua) -- China's top legislators on Monday approved the Ministry of Finance to expend "a certain amount" of fund in advance before the central budget is reviewed and approved next spring.     The chairman and vice-chairpersons of National People's Congress (NPC) Standing Committee made the decision at their meeting here Monday, said a statement issued after the meeting presided by Wu Bangguo, chairman of the NPC Standing Committee.     The statement did not reveal the exact number of the fund.     "In face of serious challenges from domestic and international market, the government has carefully adjusted the macroeconomic policies," the statement said. "The new moves were proved to be correct and effective."     The central budget is supposed to be discussed at the NPC annual session in next March. Wu Bangguo (C), Chairman of the Standing Committee of China's National People's Congress (NPC), presides over the 15th meeting of the chairman and vice-chairpersons of the 11th NPC Standing Committee, in Beijing, capital of China, Dec. 15, 2008.     At the meeting, they also discussed the agenda of the six session of the 11th NPC Standing Committee, expected to convene from Dec. 22 to 27.     Under the proposed agenda, lawmakers taking part in the session would review the draft amendments to the law on precautions against earthquake and disaster relief, the patent law, the criminal law and insurance law as well as drafts of the law on social insurance and tort liability law.     The draft law on arbitration of rural land contract conflicts and draft amendment to the law on statistics will be first tabled at the session.     Two international pacts are due to be ratified during the session: the pact on the joint military exercises held by the Shanghai Cooperation Organization members and the one on criminal judicial assistance between China and United Arab Emirates.     The State Council will table four reports, on implementation of the 11th Five-Year Plan, on measures to cope with international financial crisis and maintain a stable healthy economic growth, on measures to stabilize consumer price and on efforts to control water pollution.

BANDAR SERI BEGAWAN, Brunei, Nov. 9 (Xinhua) -- Senior leader of the Communist Party of China (CPC) Zhou Yongkang met with Brunei Foreign and Trade Minister Prince Mohamed Bolkiah on Sunday evening.     The meeting came as Zhou made a transit stop in Brunei on his way back to China.     Zhou, one of the nine-member Standing Committee of the Political Bureau of the CPC Central Committee, hailed the sound and smooth growth of China-Brunei ties since the two forged diplomatic ties in 1991.     Zhou said that particularly in recent years, the all-round friendly cooperation between the two countries has been strengthened, thanks to the joint efforts of leaderships, governments and peoples of the two countries.     China and Brunei have been understanding, supporting and closely cooperating with each other on regional and international issues, he said.     Zhou also lauded Brunei's role as a coordinator in deepening the strategic partnership between China and the Association of Southeast Asian Nations (ASEAN).     Zhou said China would continue to pursue its long-term neighbor friendship with Brunei and would like to work with Brunei to take the relations to a new high.     Mohamed congratulated China on successfully hosting the Beijing Olympics and the summit of Asia-Europe Meeting(ASEM).     The friendship between the peoples of China and Brunei can be traced back to the time earlier than the establishment of diplomatic ties, he said.     He pledged Brunei would support China's increasingly important role in regional and international affairs.     He said Brunei would like to work with China to seek common development.     Before his transit in Brunei on Sunday, Zhou concluded his fortnight trip to the three Asia-Pacific nations, namely Vietnam, Indonesia and Australia.

TEHRAN, Jan. 14 (Xinhua) -- Iran and China signed a 1.76 billion U.S. dollars deal here on Wednesday for the initial development of Iran's North Azadegan oil field, the official IRNA news agency reported.     The deal was signed between China National Petroleum Corporation(CNPC) and the National Iranian Oil Company (NIOC) in the presence of Iranian oil minister Gholam Hossein Nozari and Chinese ambassador Xie Xiaoyan, IRNA said.     The North Azadegan oil field which located in Iran's western province of Khuzestan has an estimated reserve of six billion barrels of oil and can produce 75,000 barrels per day for 25 years, Nozari was quoted as saying.     Under the deal, CNPC is committed to developing the oil field in two phases, IRNA said.     Oil output of the North Azadegan oil field will reach 150,000 barrels per day when both the two phases of the project are finished, Nozari added.     According to IRNA, the deal is in the form of buy-back terms, based on which CNPC hands over the operation of the field to NIOC after development and receives payment from oil production for a few years to cover its investment.     The period for the development and reimbursement for the first and the second phase of the field would be about 12 and 17 years, Nozari said. 

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).