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UNITED NATIONS, Oct. 5 (Xinhua) -- China stressed on Monday the importance of following "capacity to pay" principle while the United Nations considers the scale for determining member states' dues to the organization's budget.     Liu Zhenmin, China's deputy permanent representative to the United Nations, made the statement to the meeting of the Fifth Committee of the 64th Session of the UN General Assembly on the scale for determining member states' dues to the organization's budget in 2010-2012.     "China stands ready to make an even greater contribution to the UN on the basis of capacity to pay, as our economy continues to grow," he said.     But, despite its rapid economic development and impressive gross domestic product figures, China was the country with the largest population, which still faced enormous challenges at home, Liu said.     In 2008, China's per capita gross domestic product stood at 3,000 U.S. dollars, ranked around the 100th place in the world and still a far cry from the average per capita Gross National Income (GNI) of 7,119 U.S. dollars (the threshold), he said.     "By the standard of the World Bank which considers those living on less than .25 a day as poor, China's poverty population will total 250 million, the second largest in the world," he said.     "Economic development, poverty eradication and the realization of modernization remain daunting challenges for China," Liu said. "The evaluation of China's capacity to pay should not be conducted without taking into account China's specificities."

BEIJING, Sept. 27 (Xinhua) -- Chairman Ning Gaoning of China National Cereals, Oils & Foodstuffs Corporation (COFCO), said Sunday the corporation's total investment in the northwestern Xinjiang Uygur Autonomous Region would reach 10 billion yuan (1.46 billion U.S. dollars) over the next five years.     Ning made the remarks during his visit to the Xinjiang-based subsidiary companies of the corporation, the country's largest oil and food producer.     Currently, COFCO's accumulative investment in the region is about 5 billion yuan, focused on tomato processing, sugar manufacturing, and beverages.     Ning said the corporation would double investment over the next five years due to confidence in the region's growth potential, but did not say for which the future investment would be targeted.     In 2005, COFCO made an investment in Xinjiang's Tunhe Investment Co., Ltd. by taking over a 37.2 percent share of Tunhe. So far COFCO Tunhe has become the largest tomato ketchup producer in Asia, and the second largest in the world.

BEIJING, Aug. 1 (Xinhua) -- China's crude steel output would surely top 500 million tonnes this year, said Luo Bingsheng, vice chairman of China Iron and Steel Association (CISA) on Saturday.     In the first half, China produce 266.58 million tonnes of crude steel, up 1.23 percent over the same period last year. In June alone, the daily output was about 1.65 million tonnes on average.     Compared with an increasing production capacity, the country's steel enterprises saw declining profits and revenues in the first six months amid low steel prices resulted from weaken market demands.     According to statistics covered 71 of China's large-scale steel producers, total business revenue of them dropped 28.07 percent year on year to 955 billion yuan (139.82 billion U.S. dollars) in the first half. Profit decreased by 98.32 percent to 1.73 billion yuan.     China produced 500 million tonnes of crude steel last year, accounting for 38 percent of the world total production volume.

SOFIA, Oct. 14 (Xinhua) -- Chinese Vice President Xi Jinping held talks with his Bulgarian counterpart Angel Marin on Wednesday, and both leaders pledged to further cement the traditional friendly relations between the two countries.     This year marks the 60th anniversary of the establishment of the Chinese-Bulgarian diplomatic relations, and his current visit was mainly aimed at celebrating the anniversary together with the Bulgarian side and further advancing the pragmatic friendly cooperation between the two nations, said Xi. Bulgarian Vice President Angel Marin (L) welcomes visiting Chinese Vice President Xi Jinping (R) in Sofia, capital of Bulgaria, Oct. 14, 2009While reviewing the Chinese-Bulgarian relationship over the past six decades, Xi called it a good example for the friendly co-existence between countries with different social systems.     Xi said that the two sides should maintain mutual respect, seek win-win cooperation and work together to safeguard common interest, to ensure the long-term healthy development of bilateral relations and to bring benefit to the two peoples. Bulgarian Vice President Angel Marin (3rd L) meets with visiting Chinese Vice President Xi Jinping (3rd R) in Sofia, capital of Bulgaria, Oct. 14, 2009Xi put forward a five-point proposal on further advancing the relationship between the two countries:     -- To further strengthen their traditional friendly relations on the occasion of the 60th anniversary of bilateral diplomatic ties. Xi expressed hope that governments, parliaments, and parties of both sides at all levels would enhance exchanges and cooperation and boost mutual understanding and trust;     -- To expand trade cooperation to achieve mutual benefit and create a win-win situation;     -- To deepen people-to-people and cultural exchanges, specially among the youth;     -- To continue strengthening coordination and collaboration within multilateral frameworks to jointly promote world peace and development;     -- To work for a sustainable, stable and healthy relationship between China and Europe. Chinese Vice President Xi Jinping presents a wreath at the Tomb of the Unknown Soldiers in Sofia, capital of Bulgaria, Oct. 14, 2009Marin said Xi's visit demonstrated the importance the Chinese government has attached to the relations between the two countries.     Bulgaria attaches importance to its relations with China, and has taken China as a strategic and cooperative partner. Bulgaria is ready to work with China to cement mutual political trust and intensify cooperation on trade, investment, tourism, culture and education, he said. Bulgarian Vice President Angel Marin (R) introduces the general situation of Bulgaria to visiting Chinese Vice President Xi Jinping before their meeting in Sofia, capital of Bulgaria, Oct. 14, 2009. Marin reaffirmed that Bulgaria firmly adheres to the one-China policy and supports China on issues concerning Tibet and Xinjiang.     After the talks, the two leaders attended the signing ceremony for several cooperation agreements.     Xi arrived here on Wednesday afternoon for the third leg of his five-nation Europe tour. He has visited Belgium and Germany, and will also visit Hungary and Romania.

BEIJING, July 23 (Xinhua) -- The Chinese government has made clear Thursday that it will continue its proactive fiscal policy in the second half of this year to maintain its economic growth as government leaders reiterated the stance, for there are still uncertainties ahead.     Finance Minister Xie Xuren told local financial bureaus at a conference in Beijing on Thursday that the proactive policies, which included increased investment from the government, tax cuts and subsidies to low- income families, had taken effect in stimulating the recovery of the national economy.     The Chinese economy expanded 7.9 percent from a year ago in the second quarter of this year, driven by a surge of fixed-asset investment backed by government fiscal policies. Finance Minister Xie Xuren was seen in this file photo taken on March 6, 2008    The economic growth rate accelerated from the 6.1 percent in the first quarter of this year and the 6.8 percent in the fourth quarter of last year.     To weather the global economic recession, the Chinese government unveiled a four-trillion-yuan stimulus package in November to revive the world's third largest economy, which was slowed by tumbling exports. The central government promised a 1.18trillion yuan investment.     By the end of June, 591.5 billion yuan (86.6 billion U.S. dollars) out of the total investment from the central government had been allocated, which boosted a 33.5 percent jump of fixed-asset investment in the first half of this year. It was the highest level in the last five years.     The ministry's decision came as Chinese leaders vowed to continue the current policies.     Chinese President Hu Jintao said Thursday that China should adhere to its proactive fiscal policy and moderately easy monetary policy to ensure a stable economic growth as the recovery is not yet solid.     Premier Wen Jiabao has reiterated that the economy is in a crucial phase and rebounding. He pledged to maintain the current macroeconomic policies and fully implement its four-trillion yuan stimulus package.     Xie said the government will implement the fiscal policy "at full swing" in the second half of this year and speed up allocation of investment from government, which, Xie hoped, would stimulate private investment.     Yang Zhiyong, researcher of the Institute of Finance and Trade Economics at the Chinese Academy of Social Sciences, a government think tank, said that currently the proactive fiscal policy had a limited impact on pushing up private investment. It is hard for private investment to enter monopolistic sectors, he added.     Li Yining, an economist from the Peking University, said consumption should be spurred to fuel the growth momentum in the future as the current economic recovery was advanced mainly by investment. He suggested the proactive policy be further carried out to stimulate consumption and private investment in the following period.     Xie said in the second half the ministry will continue its policy of tax cuts to increase investment from enterprises and consumption.     The ministry also pledged to increase spending on people's livelihood. Investment in agriculture, social security, medical care, education, science and environmental protection climbed 33.9percent from a year earlier to 1.48 trillion yuan, according the ministry.     Analysts said the macroeconomic polices should also aim to adjust economic structure for the long term and to create new growth points.     Jia Kang, president of the Institute of Fiscal Science, Ministry of Finance, said the government resolves to step up adjustment of economic structure as the economy is back on track for recovery.     Xie said the fiscal policy in the second will support innovation and energy conservation and emission reduction to sustain the economic growth.     On July 21, the ministry started a pilot program to subsidize 50 percent of investment for solar power projects, a move to boost the solar industry as a new growth point for the country's economy.     Xie also urged to strengthen supervision over fiscal management and improve information transparency in the second half as fiscal expenditure in the second half faced great pressure. Wen Jiabao also described the country's fiscal situation as "severe."     The ministry said the country's fiscal revenue in the first six months fell 2.4 percent from a year ago to about 3.4 trillion yuan, while its fiscal expenditure rose 26.3 percent to 2.89 trillion yuan. 

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