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BEIJING, Dec. 27 (Xinhua) -- China will maintain its pro-active fiscal policy and moderately loose monetary policy to buoy the economy in 2010 as many uncertainties persisted at home and abroad, Chinese Premier Wen Jiabao said Sunday. Averting the trend of falling global demand remained difficult, Wen said in an exclusive interview with Xinhua.     "Economies of some countries are starting to pick up, but fluctuations are still possible," Wen said.     "China's economy has been on track for recovery. However, the economic performance and operations of enterprises still mainly rely on support from government's policies," Wen said.     "A consolidated recovery in the country's economy does not point to a complete revival and a full revival does not mean China's economy is developing in a sustainable way," Wen said. Chinese Premier Wen Jiabao smiles during an exclusive interview with Xinhua News Agency at Ziguangge building inside Zhongnanhai, an office compound of the Chinese central authorities at the heart of Beijing, capital of China, Dec. 27, 2009    "To withdraw macro-economic policies too early will likely ruin the efforts made before and reverse economic development," Wen said.     The government would maintain the stability and continuity of macro-economic policies while comprehensively watching the domestic and foreign economic situations, Wen said.     The State Council, or the Cabinet, announced on Nov. 5, 2008, that the government would shift the fiscal policy from "prudent to pro-active" and the monetary policy from "tight to moderately loose" to stimulate the economy by expanding domestic demand to offset a slump in exports.     The Cabinet also unveiled a 4-trillion-yuan (585.6 billion U.S. dollars) stimulus package the same day.     "We have stabilized economic growth and employment and maintained social stability over the past year," Wen said. "The government's economic stimulus package has proved effective."     China's economy grew 8.9 percent in the third quarter, the fastest rate in a year, after expanding by 7.9 percent in the second quarter and 6.1 percent in the first three months, boosted by the massive government investment and record bank lending.     The People's Bank of China, the central bank, scrapped lending limits of commercial banks in November last year.     In the first 11 months of this year, new bank loans hit 9.21 trillion yuan, an increase of 5.06 trillion yuan over the same period last year, far exceeding the full year target of 5 trillion yuan the government set in March.     The government pledged at the Central Economic Work Conference earlier this month that it would stick to the pro-active fiscal policy and moderately loose monetary policy in 2010 to sustain a recovery backed by the stimulus package.     The government would adjust macro-economic policies in line with the changing economic situation and study issues arising during implementation of such policies, Wen said.     China would gear more investment to social welfare, technical innovation and energy conservation and emission cuts next year, Wen said.

SHANGHAI, Nov. 15 (Xinhua) -- U.S. President Barack Obama arrived in China's economic hub Shanghai on Sunday night, starting a state visit to China.     Air Force One touched down at the Shanghai Pudong International Airport in heavy rain at about 23:10.     This is Obama's first state visit to China since he assumed the presidency in January. He is also the first U.S. president who paid a state visit to China within one year in office.     This year marks the 30th anniversary of diplomatic ties between the People's Republic of China and the United States.     U.S. Secretary of State Hillary Clinton, Permanent Representative to the United Nations Susan Rice and National Security Advisor James Jones also arrived in Shanghai Sunday night. U.S. President Barack Obama arrives in Shanghai on Nov. 15, 2009 to begin his first state visit to ChinaPresident Obama will meet with local officials on Monday and have a dialogue with Chinese youth, during which he is supposed to answer questions from netizens via Xinhuanet, a news website of the Xinhua News Agency on Monday.     He will leave Shanghai Monday afternoon for Beijing, where he will hold talks with Chinese President Hu Jintao and meet with other Chinese leaders.     Leaders of the two countries are expected to discuss bilateral ties and major international and regional issues of common concern, according to diplomatic sources. A girl presents a bouquet to U.S. President Barack Obama after he arrives at Shanghai Pudong International Airport on Nov. 15, 2009Presidents of the two countries have met several times since Obama took office.     They agreed to forge positive, cooperative and comprehensive ties in the 21st century during their first meeting on the sidelines of the Group of 20 financial summit in London in April and pledged to further such relations in another meeting five months later in New York.     Obama's visit to China will be of great significance for the development of Sino-U.S. ties in the new era, Chinese Foreign Minister Yang Jiechi said Saturday.

NEW YORK, Jan. 7 (Xinhua) -- Stopping importing from China may result in an increase in the U.S. trade imbalance, chief economist of the World Bank Justin Yifu Lin said during a speech here on Thursday.     Addressing the audience at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange, Lin said the imbalance between the United States and China actually "reflects some kind of specialization due to the state of development."     The type of products that China exported to the United States are labor-intensive living necessities that the United States will never produce anymore and has no competitive advantages, Lin said. Chief economist of the World Bank Justin Yifu Lin delivers a speech at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange in New York, the U.S., Jan. 7, 2009. He said stopping importing from China may result in an increase in the U.S. trade imbalance    "If China will not export those type of labor-intensive products, U.S. will have to import from other middle income or lower income countries," he added. "And very likely, the cost of importing from other countries will be higher."     Lin said U.S. companies always have a free choice to import from China or other countries, and they currently choose China is because the cost is lower.     "If U.S. has to switch the source of the import from another country, (U.S.) people will have to pay for them no matter how high the price is because that is a definite necessity," Lin said," that means most likely the trade imbalance in U.S. may increase."

JOHANNESBURG, Dec. 24, (Xinhua) -- Legal ties between China and Africa have taken a major step forward with the conclusion of the First Forum on China-Africa Legal Co-operation in Cairo, Egypt on Monday.     Under the theme "Strengthen China-Africa Legal Exchange and Promote All Round Development of China-Africa Relationship", this forum was the first time lawyers from the China and Africa had met in such circumstances.     Greg Nott, who led the South African delegation, said on his return to Johannesburg on Thursday that he was "terribly excited by this forum and look forward to the implementation of a number of proposals tabled."     These included an exchange and cooperation between Chinese and African legal circles and a legal "think tank" to promote a universal and sustainable development of the China-Africa relationship.     Nott, who is the legal representative of the China-Africa Development Fund as well other China investor clients, said there were a number of other "ambitious and exciting proposals".     These include "the establishment of training and consulting centres as well as training projects for young African lawyers. This goes all hand-in-hand with private sector lawyers driving intellectual and legal support for business activity on both continents."     The forum was convened as the first step towards pragmatic cooperation between Chinese and African legal circles.     It was attended by delegates from Botswana, Ethiopia, Nigeria, Tanzania, Uganda and Zambia, as well as a strong delegation from the China Law Society.     The agenda included the important role of law in China-Africa cooperation, an introduction to the legal systems of China and African countries and their impact on trade and investment relations.     A number of prominent Egyptian and Chinese lawyers presided over the panels. The lawyers have much work to do because while China has one legal system, the 53 nations which make up Africa each have their own systems. Most are based on either the British legal system, with elements of Roman/Dutch law, or the French legal system.     There is also a strong legacy of Portuguese influence in former colonies. China's civil law system is based on traditional customs and practices, with Soviet and German influence.     Held on Dec. 20 and 21, the forum was hosted at the Cairo Regional Centre for International Commercial Arbitration.     The South African delegation included Rajen Ranchhoojee and Sheng Wu of the Johannesburg legal firm Dewey & LeBoeuf, where Nott is the managing partner.     The legal forum followed shortly after the meeting of foreign ministers at the fourth Forum on Africa China Cooperation, which was held in for Sharm-El-Sheikh, Egypt from Nov. 8 to 9.     At that meeting South African International Relations and Cooperation Minister Maite Nkoana Mashabane said China had played an important role in Africa's renewal. "For instance it has had significant role in peacekeeping in Africa."     She said a major strength of Chinese aid was its orientation to recipient priorities such as infrastructure (telecommunications, energy, roads) and productive sector investments (agriculture).     "Furthermore, Chinese assistance is considered to be relatively predictable assistance because it is disbursed on schedule within the intended financial year."     At that point she said development cooperation between South Africa and China is was regulated by two Agreements, "namely an agreement on Human Resource Development that was signed in 2004 and a February 2007 Agreement on Technical and Economic Cooperation". 

BEIJING, Dec. 21 (Xinhua) -- Chinese President Hu Jintao has called on the country's enterprises to recruit more talents and strengthen research and innovation in order to facilitate the transition from "made in China" to "created in China."     Hu made the remarks during a two-day inspection to Zhuhai, a coastal city in China's southern economic hub of Guangdong Province, from Sunday to Monday. Chinese President Hu Jintao (C) talks with students at the Zhuhai advanced vestibule school in Zhuhai, south China's Guangdong Province, Dec. 21, 2009. President Hu Jintao made a two-day inspection tour in Zhuhai from Dec. 20During his visits to the Kingsoft Corporation Limited, a leading software company in China, and a research institute of the Gree Electric Appliances Inc., Hu said the two companies' business success was indispensable from the country's support and their own research and innovation.     Chinese enterprises should recruit more talents and hone their research and development capabilities in order to facilitate the transition from "made in China" to "created in China," Hu said.     He also urged members of the Communist Party of China (CPC) to play a leading role in the enterprises' technical innovation. Chinese President Hu Jintao (3rd R Front) visits Kingsoft Corporation Limited in Zhuhai, south China's Guangdong Province, Dec. 21, 2009. President Hu Jintao made a two-day inspection tour in Zhuhai from Dec. 20The president also visited two local technician training schools, where he encouraged the students to devote themselves to their studies in order to become talents needed by the country.     After hearing the work reports from the Guangdong provincial government and the Communist Party of China (CPC) Guangdong provincial committee, Hu urged the province to accelerate its transition to an innovation-driven economy.     The province should also make sound efforts to improve people's livelihood, promote socialist culture, safeguard social harmony and stability, and push forward party building under the new situation, he said.     Hu, also general secretary of the Central Committee of the CPC and chairman of the Central Military Commission, visited Zhuhai after he attended celebrations marking the 10th anniversary of Macao's return to the motherland.

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