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BEIJING, Oct. 10 (Xinhua) -- Chinese President Hu Jintao met with President Lee Myung-bak of the Republic of Korea (ROK) and Japanese Prime Minister Yukio Hatoyama here on Saturday, who are here to attend the second trilateral leaders' meeting.     Hailing the progress of China's relations with the two countries, Hu said China is ready to make joint efforts with Japan and the ROK to implement consensus, boost healthy development of China-ROK strategic cooperative partnership and China-Japan strategic mutually-beneficial ties.     The substantial cooperation between China and the two countries in various areas had been further expanded, he said.     Hu congratulated the success of the second trilateral leaders' meeting held in Beijing on Saturday, calling on the three nations to seize historical opportunities to further strengthen strategic trust, respect respective major interests and concerns, and make concerted efforts for mutual benefits and common development.     The Chinese president hopes the three countries to facilitate east Asian cooperation and jointly respond to regional hot issues and global challenges to unveil a new chapter for peace, cooperation and development of east Asia. Chinese President Hu Jintao (C) meets with South Korean President Lee Myung-bak (R) and Japanese Prime Minister Yukio Hatoyama, who are here to attend the second trilateral leaders' meeting, at the Diaoyutai State Guesthouse in Beijing, capital of China, on Oct. 10, 2009.    In response, Lee Myung-bak said the three countries had made great achievements in expanding cooperation in the past ten years. "China's economy is now stabilizing and turning for the better, which plays a positive role in promoting economic recovery of the ROK and Japan," he added.     Lee spoke highly of Hu's important speech on the UN climate change summit in New York last month, expressing appreciation over China's contribution to reopening the six-party talks and promoting a nuclear-free Korean Peninsula.     Hatoyama extended congratulations to Hu on the 60th anniversary of the founding of the People's Republic of China, adding he was glad to see China's great achievements.     He told Hu the Japanese government would like to cooperate closely with China to boost bilateral ties in a spirit of drawing lessons from history and facing up to the future.     Hatoyama also expressed satisfaction over the progress of trilateral cooperation, calling on the three sides to respect each other and share successful experience to promote greater achievement of trilateral cooperation.

BEIJING, Aug. 17 (Xinhua) -- China on Monday urged more efforts to push forward the rejuvenation of the country's northeast and other traditional industrial bases.     Great progress has been made in the regions since China launched the rejuvenation move more than five years ago, said attendees at a meeting of the leading group of the State Council, the Cabinet, for revitalizing the northeast and other old industrial bases. The rejuvenation strategy of old industrial bases mainly covers regions including Liaoning, Heilongjiang and Jilin provinces and the northeastern parts of Inner Mongolia Autonomous Region. Chinese Premier Wen Jiabao (L Back) presides over a meeting of the leading group of the State Council (Cabinet) for revitalizing the old industrial bases in northeast China and other regions, in Beijing, capital of China, Aug. 17, 2009. China on Monday called for more efforts to push forward the rejuvenation of the northeast and other traditional industrial bases    The northeast is a major base of grain production, heavy industry and energy resources in China. Many cities in the regions face developing challenge as their energy resources are depleted and heavy industries face the burden of restructuring.     The meeting, chaired by Premier Wen Jiabao, agreed more efforts should be spent in the regions to optimize economic structure, promote the development of modern industries, and speed up infrastructure construction, especially some major energy, transport and water conservation projects.     Great importance should be attached to promoting innovation and technological progress in enterprises and work should be urged to develop modern agriculture as well as grain production, transportation and storage to secure the national grain reserve base.     The meeting also called for efforts to tackle issues emerging from the transformation of resources-oriented cities, eco-environmental conservation, improvement of people's livelihood, regional economic cooperation and state-owned enterprise reform.

BEIJING, Oct. 5 (Xinhua) -- The Emerging Markets magazine has named China's Finance Minister Xie Xuren as Finance Minister of the Year, Asia 2009, the Ministry of Finance said Monday at its website.     The Emerging Markets believes that China's quick and proactive fiscal policies implemented in the past year have boosted economic growth and made contributions to global economic recovery, the ministry said.     In a written interview with the magazine, Xie said since the outbreak of the global financial crisis last year, the Chinese government timely and resolutely adjusted its macro-economic polices, carried out proactive fiscal and moderately easy monetary policies, and approved plans aiming to spur domestic consumption. China's Finance Minister Xie Xuren (L) meets with World Bank Group President Robert B. Zoellick ahead of the World Bank Group and the International Monetary Fund (IMF) annual meetings in Istanbul, Turkey, Oct. 5, 2009. The 2009 Annual Meetings of the World Bank Group and the IMF are scheduled to be held in Istanbul on Oct. 6 and 7.     China's gross domestic product grew 7.1 percent in the first half of this year, which proved those policies were effective, said Xie.     He told the magazine that an overall recovery in the global economy would be slow with twists and turns, and that China's economic recovery was still unstable and imbalanced.     But China would stick to the proactive fiscal and moderately easy monetary policies, while focusing on the longer-term development and economic restructuring, he said.     Emerging Markets is part of Euro money Institutional Investor plc. It provides a broad range of news, features, analysis for investors, bankers, brokers working in the developing world.

BEIJING, Oct. 14 (Xinhua) -- China on Wednesday proposed closer cooperation among members of a regional security group to tackle the world economic recession.     "Confronted with the global financial crisis and aiming at a steady economic growth, member states of Shanghai Cooperation Organization (SCO) should work together and seek mutual benefit," Chinese Vice Premier Li Keqiang told a SCO business forum in Beijing.     The SCO was founded in 2001 to enhance security cooperation among its six member states, namely, China, Russia, Uzbekistan, Tajikistan, Kyrgyzstan and Kazakhstan. Mongolia, India, Iran and Pakistan are observers to the regional group. Chinese Vice Premier Li Keqiang attends a business forum of Shanghai Cooperation Organization (SCO) in Beijing, capital of China, Oct. 14, 2009    "Despite the world financial crisis, the trade volume between China and some SCO member states has been growing over the past year," Li said.     "The crisis didn't shake up the foundation for SCO states' cooperation. Instead, it offered more opportunities for them to work together," Li said, citing the fact that SCO members are complementary in economies and have an increasingly-connected market.     Although the total population and territories of SCO member states amounted to a quarter and one fifth of the world's total, their overall economic scale and trade volume made up only the world's 11 percent or 10 percent respectively, Li said.     "Thus, there is a huge potential for SCO member states to expand economic and technology cooperation," Li said.     He called for SCO member states to carry out the joint actions to deal with the global slump and accelerate the process of trade and investment liberalization.     He proposed promoting the projects that involved and benefited multiple parties, building infrastructure networks of transportation, communications and energy.     It was necessary to step up cooperation in modern agriculture, emerging industries, high-tech and social welfare so as to benefit the people, Li said.     He vowed that China will unswervingly pursue the path of peaceful development, take a more active part in SCO affairs, fully participate in regional economic and regional cooperation in a bid to work for the welfare of 1.5 billion people within the SCO member states.     The business forum was an important event under the framework of the eighth SCO prime ministers' meeting, which took place on Wednesday.

DALIAN, Sept. 10 (Xinhua) -- Following is the translated version of the full text of Chinese Premier Wen Jiabao's speech delivered here on Thursday at the opening ceremony of the Annual Meeting of the New Champions 2009, or Summer Davos: 　　Build up in an All-round Way the Internal Dynamism of China's Economic Development     Speech by H.E. Wen Jiabao     Premier of the State Council of the People's Republic of China     At the World Economic Forum Annual Meeting of New Champions 2009     Dalian, 10 September, 2009     Professor Klaus Schwab, Executive Chairman of the World Economic Forum,     Distinguished Guests,     Ladies and Gentlemen, Chinese Premier Wen Jiabao addresses the opening plenary of the Annual Meeting of the New Champions 2009, or the Summer Davos, in Dalian, northeast China's Liaoning Province, Sept. 10, 2009.     Let me begin by extending warm congratulations on the opening of the third Annual Meeting of the New Champions, or the Summer Davos, and a sincere welcome to you all.     Over the past year, the world economy has experienced the most severe challenge since the Great Depression. We may recall the worries voiced by many people early this year when we gathered in Davos for the World Economic Forum annual meeting. Since then, thanks to the concerted efforts and active measures of the entire international community, some positive changes have taken place. The world economy is beginning to recover, although the process is slow and tortuous. We can now see the light of dawn on the horizon.This is a critical juncture and it is highly significant for political leaders, entrepreneurs, experts and scholars of various countries to gather together here and discuss how to "Relaunch Growth" of the world economy. I sincerely wish this meeting a great success!     This unprecedented global financial crisis has taken a heavy toll on the Chinese economy. Yet, we have risen up to challenges and dealt with the difficulties with full confidence. And we have achieved initial results in our endeavor.     We have arrested the downturn in economic growth. In the first half of this year, China's GDP grew by 7.1 percent, investment expanded at a faster pace, and consumption maintained fast and steady growth. Domestic demand played a stronger role in driving the economy forward. From January to July, 6.66 million new urban jobs were created, income of urban and rural residents increased, and overall social stability was maintained. We effectively managed fiscal and financial risks and kept budget deficit and government debt at around 3 percent and 20 percent of the GDP respectively. Banks' asset quality and ability to fend off risks were improved. At the end of June, the NPL ratio of commercial banks was 1.8 percent, down by 0.64 percentage point from the beginning of the year, and capital adequacy ratio stood at 11.1 percent.     With the world economy still mired in recession, it is by no means easy for us to have come this far. The achievements we have made are not something that dropped into our lap. Rather, they are the results of the proactive fiscal policy and moderately easy monetary policy and the stimulus package that the Chinese government and people have pursued in line with the national conditions. Some people take a simplistic view and believe that China's stimulus package means only the four trillion RMB yuan investment. This is a total misunderstanding.     China's stimulus package focuses on expanding domestic demand and is aimed at driving economic growth through both consumption and investment. Of the total four trillion yuan in the two-year investment program, 1.18 trillion yuan will come from the central government, and it will mainly be used to generate greater investment by local governments and the non-public sector. We have made vigorous efforts to stimulate consumption and make domestic demand, particularly consumer spending the primary driver of economic growth. We have increased subsidies for farmers, raised the minimum purchasing price of grains, introduced performance-based salaries for primary and middle school teachers, and increased the basic cost of living allowances for urban and rural residents so that the people will be able to spend more. In order to boost consumption, we have offered subsidies for the program of bringing home appliances, agricultural machinery, automobiles and motorcycles to the countryside and the program of exchanging used automobiles and home appliances for new ones. Purchase taxes on small-engine and energy conserving and environment friendly cars have been cut by half. In the first seven months, a total of 7.31 million cars were sold and total retail sales of consumer goods rose by 15 percent.

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