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BEIJING, Jan. 19 -- Air China Ltd, the nation's largest international carrier, expects to report its first annual loss in at least eight years on waning travel demand and wrong-way bets on fuel prices.     The carrier made paper losses of 6.8 billion yuan (994.5 million U.S. dollars) on fuel-hedging in 2008, it said on Friday in a Hong Kong stock exchange statement. The airline made a 3.88-billion-yuan annual profit in 2007.     Air China joins China Southern Airlines Co and China Eastern Airlines Corp in forecasting a 2008 loss after the nation's cooling economy damped business and leisure travel. The Beijing-based carrier also reported hedging losses after jet-fuel prices tumbled 70 percent in less than six months.     "Air China is more exposed to the global crisis" than China Southern and China Eastern, said Li Jun, an Everbright Securities Co analyst in Shanghai. "As such, most of its advantages turned into disadvantages last year."     The carrier has been profitable since at least 2000, data complied by Bloomberg News showed, helped by having a wider overseas network than domestic rivals.     "The aviation market experienced a general shrinking demand in 2008 and traffic revenue was significantly lower than expected," the Beijing-based company said in the statement. The hedging contracts "will have a considerable effect on the financial results for the year."     The airline is also able to hedge a greater proportion of its fuel needs than rivals, as Chinese carriers are barred from hedging purchases of fuels for domestic flights. That has previously enabled Air China to limit the effect of increasing fuel prices.     The airline's passenger numbers fell 1.7 percent in 2008 to 34.2 million, the first decline in five years. Its cargo and mail volume dropped 3.8 percent to 898,962 tons.     The shares have dived 80 percent in the past year and closed 3.9 percent higher at 1.88 Hong Kong dollars (24 U.S. cents) a share on Friday in Hong Kong trading.

BEIJING, Jan. 6 (Xinhua) -- Chinese Vice President Xi Jinping urged officials with the Communist Party of China (CPC) to play more important roles when dealing with the international financial crisis.     Xi, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remark during a conference Tuesday.     Xi asked officials to make public promises that they would better implement their duties to Party members and non-party people.     The official also urged Party officials to carry out the central government's policies designed to keep steady economic growth and improve the people's lives using practical measures.

BEIJING, Jan. 17 (Xinhua) -- China and the United States had signed a memorandum of understanding restricting the U.S. import of archeological items originating in China, a Chinese official said Saturday.     The memorandum was signed in Washington on Thursday by Chinese Ambassador Zhou Wenzhong and U.S. Assistant Secretary of State for Education and Cultural Affairs Goli Ameri, said Dong Baohua, deputy director of the State Administration of Cultural Heritage (SACH), at a press conference.     The agreement's full name is Memorandum of Understanding Concerning the Imposition of Import Restrictions on Categories of Archeological Material from the Paleolithic Period through the Tang Dynasty and Monumental Sculpture and Wall Art At Least 250 Years Old.     Under the memorandum and U.S. legislation entitled the Convention on Cultural Property Implementation Act, the U.S. government shall restrict the importation into the United States of archeological material originating in China and representing China's cultural heritage from the Paleolithic Period through the end of the Tang Dynasty, the year 907, and monumental sculpture and wall art at least 250 years old.     The U.S. government will promulgate a list of archeological material categories of metals, ceramic, stone, textile, other organic material, glass and paintings, which will be restricted to import from China, unless the Chinese government issues a license or other documentation which certifies that such exportation is not in violation of its laws, the memorandum says.     For the purpose of this memorandum, the restricted Paleolithic objects date from approximately 75,000 B.C., according to the memorandum.     China and the United States are both States Party of the Convention on the Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property. The convention was adopted by the UNESCO in 1970.     For years, the Chinese government has attached importance to cracking down on the stealing, illegal digging, and smuggling of cultural relics and tried to cooperate with the international community in the crackdown, by participating in internationals conventions and signing bilateral and multilateral agreements on the issue.     In addition to the newly-signed Sino-U.S. memorandum, China has signed similar agreements with Peru, India, Italy, the Philippines, Greece, Chile, Cyprus, and Venezuela, according to the official.

LIMA, Nov. 19 (Xinhua) -- Visiting Chinese President Hu Jintao met his Peruvian counterpart Alan Garcia Wednesday in Lima for talks on how to deepen comprehensive cooperative partnership between China and the Latin American nation.     The meeting took place soon after the Chinese leader's arrival in the Peruvian capital from Havana.     In a written statement issued upon his arrival here, the Chinese president said he will exchange views with Garcia and other Peruvian leaders on ways to deepen bilateral ties.     Following their talks, the two leaders will attend a signing ceremony of documents on cooperation in trade, customs, quality control and poverty reduction.     Peru is one of China's major trading partners in Latin America,with two-way trade totaling 6 billion U.S. dollars in 2007, a 53 percent increase over the previous year.     While in Lima, Hu will attend the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum, which will focus on the world financial crisis, support for the Doha round oftrade talks, food and energy security, and regional economic integration.     The Chinese president will also meet with leaders of several APEC member economies on the sidelines of the APEC meeting.

KUWAIT CITY, Dec. 29 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang and Kuwaiti Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah agreed to expand economic and energy cooperation between the two countries during their meeting here on Monday.     "China and Kuwait should form a lasting, stable and comprehensive partnership concerning the energy area," Li told the Kuwaiti prime minister, according to a press release from the Chinese Foreign Ministry.     Li said the two sides should deepen cooperation in the energy industries and study ways of joint exploration of both upstream and downstream industries.     He called on both sides to expand cooperation on infrastructure and telecommunication, increase contacts of people, and promote exchanges in the areas of finance, agriculture, science and technology and culture, in a bid to jointly respond to the change of global economic environment.     Li also said China always sees its relations from a strategic perspective with the Gulf Cooperation Council (GCC) and its six members, including Saudi Arabia, the United Arab Emirates, Oman, Qatar, Bahrain and Kuwait.     China is willing to further high level visits, enhance political mutual trust, broaden substantial cooperation and promote peace and stability in the Gulf region, Li said.     Nasser said Kuwait and China have witnessed a strong growth of bilateral trade volume this year, and taken a big step in energy cooperation.     Citing the current global financial crisis, he pledged that Kuwait is ready to further enhance cooperation with China in various fields, adding that Kuwait welcomes Chinese products and enterprises to enter the Kuwaiti market to realize common development.     The Chinese vice premier also visited oil facilities in Kuwait and met with major figures of the oil industry to get a better knowledge of the Gulf Arab state's oil industry and the progress of China-Kuwait energy cooperation.     China and Kuwait renewed their record of bilateral trade volume in 2007 with 3.6 billion U.S. dollars, according to official statistics, a 30-percent growth compared with that of 2006.     China imported 2.3 billion dollars worth of goods from Kuwait in 2007, with 90 percent of oil products, while only exporting 1.3billion dollars of goods to Kuwait.     Li and Nasser also hailed the sound state-to-state relations between China and Kuwait.     Li said relations between China and Kuwait, the first Gulf state to establish diplomatic ties with China, feature "deep friendship between the two peoples, all-along mutual political trust and equal respect."     Expressing his appreciation of Kuwait's support in the issues concerning China's major interests, he said China supports Kuwait's independence, sovereignty and territorial integrity.     Nasser acknowledged that China was also the first big power to recognize the independence of Kuwait.     Nasser said the Kuwaiti people have been always cherishing a friendly affection towards the Chinese people, and will never forget the firm support and help from the Chinese people.     Kuwait is the final leg of Li's 11-day overseas visit, his first foreign visit since he took office as vice premier in March, which has also taken him to Indonesia and Egypt.

来源：资阳报