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BEIJING, Dec. 8 (Xinhua) -- China's annual Central Economic Work Conference opened here Monday to set tone for the economic development next year. Observers believed the three-day event would give priority to efforts to maintain stable economic growth. They reckoned in 2009, China would see more risks for worse economic slowdown, more struggling smaller businesses, grim export situation and arduous task of transformation of economic growth pattern. "It is imperative for China to maintain an economic growth of at least 8 percent," said Zhuang Jian, senior economist with Asian Development Bank's China Resident Mission. It was hard for China to bear the consequences of a too slow GDP growth, Zhuang added, citing bankruptcy of numerous enterprises, more migrant workers being laid off and difficulties for college graduates to find jobs. China's macro-economic policies experienced a dramatic adjustment-- from "preventing economic overheating and curbing inflation" at the beginning of this year to "maintaining growth through expanding domestic demand" at present. In the first three quarters, the nation saw its GDP growth slowed to a single-digit rate for the first time over the past five years, thanks partly to macro-economic control efforts and the ongoing financial woes worldwide. "The Chinese economy has suspended continuous heating and proceeded into a period of slow down," Zhang Liqun, a researcher with the macro economy department under the Development Research Center of the State Council, commented. "The slowdown was worse than expected," said Ma Jiantang, head of the National Bureau of Statistics. Data from the bureau showed that the country's GDP growth was 10.6 percent in the first quarter, 10.1 percent in the second, and9 percent in the third. President Hu Jintao said at the end of November that the Chinese economy was pressurized by global economic downturn, obvious ebbing of demand from abroad and weakening of the country's traditional competitive edge. "Impact from the international financial tsunami on the Chinese economy has begun to show up, and to deepen into various sectors of the real economy," said Wang Yiming, deputy head of the macro economic research institute of the National Development and Reform Commission. Since mid October, the Central Government has promulgated a string of policies and measures to prevent the national economy from sliding drastically. They included end of a tight monetary policy and commencement of a moderately easy one, shifting the fiscal policy from "prudent" to "active", starting projects to improve infrastructure and promote people's livelihood, and, expanding domestic demand. The People's Bank of China announced tax exemptions and downpayment cuts as of Oct. 27 to boost the falling real estate sector. The minimum downpayment for a first-time buyer of a residence smaller than 90 square meters was reduced to 20 percent from 30 percent. Interest rates on mortgages for first-time buyers were cut 0.27percentage point. The floor for interest rates was lowered to 70 percent of the central bank's benchmark rate. The central bank cut benchmark interest rates by 0.27 percentage point as of Oct. 30, the third such move in six weeks. The benchmark one-year deposit rate dropped to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate fell from 6.93 percent to 6.66 percent. Tax rebates were raised for 3,486 export items as of Nov. 1. The adjustment covered such labor-intensive industries as textiles, toys, garments, and high-tech products, accounting for 25.8 percent of products covered by customs tariffs. Rebate rates run roughly from 9 percent to 14 percent. On Nov. 9, state councilors announced a four-trillion-yuan (583.9 billion U.S. dollars) economic-stimulus package, which was seen as the most exciting stimuli in 10 years. To boost consumption, particularly in the rural areas where 900 million people inhabited, was important part of efforts to expand domestic demand, observers believed. China has launched a scheme to subsidize rural residents for buying home appliances since the end of 2007. It is estimated that in a period of four years, nearly 480 million units of refrigerators, washing machines, color TV sets and cell phones, which were in huge demand among farmers, will be sold in rural areas nationwide. That means 920 billion yuan to be spent by rural consumers. "There is still a large room for the government to mull more policies to boost consumption, such as raising the threshold for taxable income and increasing income for lower-income earners," said Cai Zhizhou, an economist with the prestigious Peking University. Export has since long been a major driving force for the Chinese economy. Economists believed the stable development of smaller enterprises, particularly the exporters, which provided jobs for 75 percent of urban employees and rural migrant workers, was related to the stability of the enormous Chinese labor market. How to prevent export from sliding down too fast is one of the top concerns of the Chinese government. "It is no doubt that China's export situation will become more grim next year. However, if the country manages to maintain a moderately fast growth in foreign sales of machines and electronics, it will likely achieve a growth of more than 15 percent in export at large," said Mei Xinyu, a trade expert with the Ministry of Commerce. China has taken a string of measures to boost development of smaller enterprises. "It is necessary for the government to work out more detailed, effective methods to mitigate tax burdens and enhance credit support for smaller businesses, and to help them with their efforts to promote technical upgrading and explore more markets," said Zhao Yumin, another economist with the Ministry of Commerce. The service sector, which was able to provide numerous jobs, was yet to be expanded substantially, Zhao added. Zhang Xiaojing, a senior economist with the Chinese Academy of Social Sciences, said that it was definitely wrong for China to waive long-term goals for short-term interests. He believed that to promote the shift of economic growth pattern and maintain the sustainable economic growth would be one of the important topics for the ongoing Central Economic Work Conference.
MACAO, Jan. 10 (Xinhua) -- Chinese Vice President Xi Jinping Saturday said here that Macao Special Administrative Region (SAR) should promote its long-term economic diversification. Xi, who paid the first official visit to Macao since assuming the office of Chinese Vice President in March 2008, made the remark when meeting with the SAR's Chief Executive Ho Hau Wah and 113 representatives from all walks of the local society in the Macao East Asian Games Dome. Chinese Vice President Xi Jinping (R, front) meets with Macao SAR Chief Executive Ho Hau Wah in Macao, south China, Jan. 10, 2009. Like the Chinese mainland and other places, Macao was hit by the impact of the global financial crisis recently and encountered some difficulties, Xi said, adding that despite this, "we should be confident as there are also opportunities and conditions for development." Xi also said that the central government has launched a series of policies and measures to expand domestic demand and boost economic development. "We are still confident that we can curb the further spread and impact of the global financial crisis and contain its damage, so as to achieve a new period of stable and rapid economic development," he said. To ensure Macao's stable development in the face of global financial crisis, China's central government announced nine measures aimed to support Macao in six areas on Dec. 19, 2008. Chinese Vice President Xi Jinping (L front) inspects Macao Tower, the tallest building in Macao, south China, Jan. 10, 2009. These measures mainly concerned promoting the financial and infrastructure cooperation between the mainland and Macao, the overall opening-up of the mainland's service sector to Macao, and helping Macao's small-and-medium sized enterprises. He also pointed out that Macao's capacity in various fields has been greatly strengthened since its return to the motherland nine years ago, and the SAR government has relatively sufficient financial supply and abundant knowledge and experience of how to tackle the crisis. As for the development of Hengqin Island, a part of neighboring mainland city Zhuhai, Xi said the central government has decided to develop the island, but the development will be launched only when preparatory works were fully completed. The development of Hengqin Island will provide new spaces for the diversification of Macao's economy, he said, adding that the central government will take Macao's needs into full consideration. Located close to Macao, Hengqin Island is about three times the size of Macao. The land-strapped SAR has long been requesting a part in its development. Xi arrived in Macao earlier this morning, starting his two-day visit to the island city. Xi paid two visits to the SAR in 2001 and 2005 respectively before assuming the Chinese vice-presidency.
BEIJING, Dec. 12 (Xinhua) -- Chinese President Hu Jintao has vowed the Chinese people will, as always, work together with the international community to promote healthy development of the human rights cause in the world. Hu made the remarks in a letter to the China Society for Human Rights Studies on the occasion of the 60th anniversary of the publication of the Universal Declaration of Human Rights. He said China will strengthen international cooperation, as it has always done, in the human rights field to make its due contribution to the building of a harmonious world featuring lasting peace and common prosperity. China, however, will base its human rights development on the basic situation of the country while acknowledging the universal value of human rights, Hu said in the letter. The country will prioritize people's rights to existence and development in its socialist modernization drive and ensure, in accordance with law, the equal rights to participation and development of all society members, Hu said, stressing the principle of "people first". Citing the enshrinement of human rights in the Constitution, Hu said the country has recorded a new chapter of human rights development since the founding of New China and especially since the reform and opening-up 30 years ago, which has been witnessed by the whole world.
BEIJING, Dec. 31 (Xinhua) -- President Hu Jintao offered six proposals to promote the peaceful development of the cross-Straits relationship in a speech to commemorate the 30th anniversary of the mainland's "Message to Compatriots in Taiwan" here on Wednesday. Hu said the mainland is willing to discuss with Taiwan proper and reasonable arrangements for Taiwan's participation in international organizations, as long as this does not create a scenario of "two Chinas" or "one China, one Taiwan". Although the two sides of the Taiwan Straits have been split since 1949 by a civil war, the political confrontation between them did not change the fact that they belonged to one China, he said. "Once the two sides reach a common understanding and accordant stance on the principle of one China, the foundation of political mutual trust will be laid and anything can be talked about between the two sides," he said. "Anything that is conducive to peaceful development across the Straits, we will greatly promote. Anything that harms it, we will firmly oppose." Hu proposed that the two sides end hostility and reach peaceful agreements under the one China principle. The two sides can start discussion about political relations under the special condition before reunification in a pragmatic manner, he said. He also suggested the two sides to step up contacts and exchanges on military issues "at an appropriate time" and talk about a military security mechanism of mutual trust, in a bid to stabilize cross-Straits relations and ease concerns about military security. Chinese President Hu Jintao addresses a ceremony commemorating the 30th anniversary of the announcement of Message to Compatriots in Taiwan, held in Beijing, capital of China, on Dec. 31, 2008. The Chinese mainland commemorated the 30th anniversary of the announcement of Message to Compatriots in Taiwan here Wednesday with a ceremony. The President's speech on the new year's eve came after the mainland and Taiwan realized historical direct links of transport, trade and post services. Hu, also general secretary of the Communist Party of China Central Committee, sent a message in his speech which urged the Democratic Progressive Party (DPP) to "clearly understand the situation and stop secessionist activities". "If the DPP could change its 'Taiwan independence' stance, we would make a positive response to them," he said. He said that all those who had advocated or got involved in secessionist activities, or followed suit are welcome to return to the right direction of promoting peaceful development of cross-Straits ties. To accompany his political stance, Hu made trade appeals to the island, proposing both sides should establish a collaboration mechanism by economic agreement which "would be mutually beneficial to both sides". "We continue to welcome and support Taiwan companies' business in the mainland and encourage mainland enterprises to invest in Taiwan," he said. "We expect to normalize economic relations across the Straits and establish an economic cooperation mechanism." The president also stressed the common cultural heritage inherited by the people living on both the mainland and the island, saying that all Chinese should promote China's traditional civilization with strengthened spiritual ties. "We will continue to take measures to push forward cross-Straits cultural and educational exchange to a broader and higher stage, including conferring with Taiwan on a cultural and educational exchange protocol," Hu said. He called on both the mainland and Taiwan to increase communication and exchange in all circles and the mainland will actively respond to any constructive proposals from the island which will boost peaceful development of the cross-Straits relations. Hu was addressing a ceremony to commemorate the 30th anniversary of the mainland's major policy change on Taiwan. Presided over by China's top legislator Wu Bangguo, the ceremony had drawn several other prominent delegates from the government, students and Taiwan compatriots living in the mainland to give speeches. The Standing Committee of the National People's Congress (NPC),China's top legislature, issued the "Message to Compatriots in Taiwan" on Jan. 1, 1979. In this statement, the mainland first proposed to end the military confrontation across the Taiwan Straits through dialogues and welcomed exchanges between the two sides. Chinese President Hu Jintao (Front) addresses a ceremony commemorating the 30th anniversary of the announcement of Message to Compatriots in Taiwan, held in Beijing, capital of China, on Dec. 31, 2008. The Chinese mainland commemorated the 30th anniversary of the announcement of Message to Compatriots in Taiwan here Wednesday with a ceremony.
LIMA, Nov. 20 (Xinhua) -- Foreign and trade ministers from the 21 member economies of the Asia Pacific Economic Cooperation (APEC) forum on Thursday called for joint efforts to overcome the ongoing global financial crisis and revive the Doha Round trade negotiations. "APEC economies are committed to implementing all necessary measures to bolster the real economy and boost investment and consumption levels in the region," said a joint statement released by the ministers after a two-day Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in the Peruvian capital. "Ensuring a rapid, coordinated and effective response to the current global financial crisis is the highest priority for APEC economies and will be the focus of attention" when APEC leaders meet on the weekend, said the statement. The APEC ministers met in Peru during the "most difficult set of economic conditions" since APEC was created in 1989, it said. Peruvian Foreign Minister Jose Garcia Belunde, who chaired the meeting, said the ministers have reaffirmed their opposition to trade and investment barriers. The ministers have agreed to continue to "strengthen consumption level in the region and expand trade activities," he said. "We've decided to continue supporting the multilateral trade system, including the World Trade Organization, and to support a conclusion to the Doha trade round," he said. Australian Trade Minister Simon Crean said the APEC ministers not only have reached an consensus to push forward the Doha talks but also agreed on the direction to conclude it. Crean called on the APEC leaders to make commitment based on the action plan adopted by the G-20 countries in Washington earlier this month, noting that nine of the APEC members participated in the Washington meeting. "Commitement at various levels" are required to deal with the financial crisis, he said. U.S. Trade Minister Susan Schwab said world leaders should learn from the Great Depression in the 1930s and prevent a "prolonged and deepening" crisis from taking place. Schwab noted that the G-20 nations had made it clear that trade barriers and protectionism will not be an option during the crisis and it is vital to conclude the Doha talks as soon as possible. The world economies should "use trade in a positive way" to avert the crisis, she said. "We will do everything we can" to push forward the Doha talks, she added. Singapore Trade and Industry Minister Lim Hng Kiang said APEC has yet to confront many challenges and the financial crisis is likely to top APEC's agenda next year when Singpore takes over as the chair. The 20th APEC Ministerial Meeting started on Wednesday to make final preparations for the APEC Leaders' Meeting this weekend.