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WASHINGTON, March 11 (Xinhua) -- The U.S. House of Representatives on Wednesday adopted a resolution on Tibet in gross interference in China's internal affairs. The resolution neglected the remarkable and widely recognized progress in Tibet in politics, economy, culture and society over the past 50 years. It also repeated groundless accusations against the Chinese government over its Tibet policy and voiced support for the ** Lama's separatist activities. Chinese Foreign Ministry spokesman Ma Zhaoxu urged the U.S. representatives Tuesday to follow the basic norms guiding international relations and stop pushing the bill on Tibet. "The Tibet issue is purely China's domestic issue. The Chinese government and people, as always, oppose any country or anyone to interfere in China's internal affairs on the pretext of the Tibet issue," he said. This year marks the 50th anniversary of the end of feudal serfdom in Tibet. Fifty years ago, the central government of China foiled an armed rebellion by the ** Lama and his supporters to block reform in Tibet and split the region from China. On March 28, 1959, a new local Tibetan government was formed, freeing millions of Tibetan serfs and slaves, who accounted for more than 90 percent of the then population. "Over the past 50 years, Tibet has undergone profound changes in political, economic and cultural sectors and millions of serfs have become owner of Tibet," Ma said. However, with the backing of certain anti-China elements in the West, the ** Lama and his followers have continued to pursue either disguised or undisguised activities in an attempt to separate Tibet from China and restore feudal serfdom in the region. On March 14 last year, followers of the ** Lama staged riots in Lhasa to put pressure on the central government. Their violence resulted in the deaths of 18 civilians and huge property losses.
BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy. The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December. The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways. "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month." "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth." The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy. The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence. Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans. Medium and long-term corporate loans made up 32 percent. "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International. The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year. The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating. That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said. Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006. The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year. "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan. But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

BEIJING, April 5 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Sunday held phone talks respectively with U.S secretary of state and foreign ministers of Russia, Japan and South Korea on the Democratic People's Republic of Korea's (DPRK) launching activity. China has noticed the DPRK's announcement of having launched an experimental communications satellite and taken note of the concerns expressed by the relevant parties on this issue, Yang told his counterparts of the U.S., Russia, Japan and South Korea Hillary Clinton, Sergei Lavrov, Hirofumi Nakasone, and Yu Myung Hwan. China, as a close neighbor of the Korean Peninsular, has always been committed to safeguarding peace and stability on the Korean Peninsular and in the Northeast Asia region, Yang said. The Chinese government lately has reiterated its stance on solving the issue through dialogue and consultation and opposing any actions that could complicate the situation and escalate tension, he added. To push forward the six-party talks, build a nuclear-free Korean Peninsular and maintain peace and stability in Northeast Asia are in the interests of all parties concerned and also the common aspirations of the international community, said the Chinese minister. He said the Chinese side urged all relevant parties to show restraint and avoid any moves that could further increase tension in the region. China will address the current situation in a responsible and constructive manner, Yang said, noting that China is willing to communicate with all parties concerned to solve the issue properly. China will join efforts with other parties to advance the six-party talks and safeguard peace and stability of the Korean Peninsular, he added. Russian, Japanese, South Korean foreign ministers and the U.S. sectary of state also expressed their countries' willingness to continue exchanges of views and consultation with China on the issue.
ISLAMABAD, April 18 (Xinhua) -- A 100-member-strong youth delegation of Pakistan is to leave for China on Sunday on a week-long visit as a program of boosting exchanges between the two friendly countries. "The youths from all walks of life of Pakistan will have the chance to look at China and know more about China," said Charge d'Affairs Yao Jing of Chinese Embassy in Pakistan told youth delegation at a reception. Chinese President Hu Jintao invited 500 young people from Pakistan to visit China within five years when he paid a state visit to Pakistan in November, 2006. The program was launched in 2007. The program is aimed at "increasing mutual understanding" between the two countries and peoples, said Yao. Ullah Saif Shervani, secretary of Pakistani Ministry of Youth Affairs, expressed the hope that the delegation members could take the opportunity to learn from "friendly China" and help enhance "time-tested friendship" between the two countries. "I appreciate the Chinese government for the chance to visit," said Adil Taj, an university student in Islamabad. "We will work hard to make our own contribution to Pakistan-China friendship." The youth delegation is scheduled to visit Beijing, Urumqi and Lanzhou from April 19 to 27.
ADDIS ABABA, April 6 (Xinhua) -- The Chinese representative to the 120th Assembly of the Inter-Parliamentary Union (IPU) on Monday urged all countries to abandon any form of trade and investment protectionism amid the sweeping financial crisis. "During times of economic difficulties, the international community should abandon all forms of trade and investment protectionism and work for the progress of the Doha round of negotiations at an early date," Uyunqimg, Vice chairwoman of the Standing Committee of China's National People's Congress, said at the Addis Ababa meeting. Uyunqimg, Vice-chairwoman of National People's Congress Standing Committee of China, attends the 120th Assembly of the Inter-Parliamentary Union (IPU) in Addis Ababa, capital of Ethiopia, April 6, 2009. The 120th Assembly of the IPU and its related meetings are being held in Addis Ababa from April 5 to 10, with the overall theme of "Parliament: Building Peace, Democracy and Development in times of Crisis"She told fellow parliamentarians that the outbreak of the global financial crisis added to the destabilizing factors and uncertainties in the international political and economic arenas, and posed grave challenges to the political, economic and social life of various countries. "Therefore, it is timely and fitting for this IPU Assembly to put the tackling of the crisis top on its agenda," she said. Due to their low level of economic development, lack of diversity in economic structure and vulnerability of the financial system, developing countries are far more severely affected by the financial crisis than developed countries. The Chinese official called on the international community, developed countries in particular, to shoulder their due responsibilities and obligations, continue to honor commitments of assistance and debt reduction, maintain and increase assistance to developing countries to help them tide over the difficulties and maintain financial stability and economic growth. "We hope that parliaments around the world will play a positive role, avoiding any legislation that is protectionist in nature and urging their respective governments to shun any action that may aggravate the economic hardship for developing countries under the current circumstances," she said. The April 5-10 meeting attracted over 1,000 legislators from around the world, and the delegates are scheduled to discuss the political, economic and social situation in the world with the overall theme of "Parliaments: Building Peace, Democracy and Development in times of crisis."Uyunqimg, Vice-chairwoman of National People's Congress Standing Committee of China, addresses in the 120th Assembly of the Inter-Parliamentary Union (IPU) in Addis Ababa, capital of Ethiopia, April 6, 2009. The 120th Assembly of the IPU and its related meetings are being held in Addis Ababa from April 5 to 10, with the overall theme of "Parliament: Building Peace, Democracy and Development in times of Crisis".
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