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UNITED NATIONS, Sept. 25 (Xinhua) -- Chinese Premier Wen Jiabao has clarified China's policies of continuing reform and opening-up and seeking peaceful and common development during his just-concluded visit to the UN headquarters, Chinese Foreign Minister Yang Jiechi said Thursday. During his 48-hour stay in New York, Wen attended the UN high-level meeting on the Millennium Development Goals (MDGs) and the 63rd annual general debate of the UN General Assembly. Wen's visit was particularly significant in view of the increasingly complex international situation, the recent turbulence in the international economic and financial sectors, the sharp increases in oil prices and food supply shortage, and the whole world is keen to know in what direction China is heading after the Beijing Olympic Games, Yang told Xinhua. Chinese Premier Wen Jiabao delivers a speech at the United Nations high-level meeting on the Millennium Development Goals (MDGs) in New York, the United States, Sept. 25, 2008 During his visit, Wen declared China is determined to follow the path of peaceful development and stick to the policies of reform and opening-up, and an independent and peaceful foreign policy. In terms of international relations, the premier said China is ready to develop friendly relations with all countries on the basis of mutual respect, equality and mutual benefit. Wen said China, as a responsible and major developing country, is ready to work with other members of the international community to contribute to global peace and development. Wen also reiterated China's commitment to promoting the world’s common development. In this regard, he gave a comprehensive account of China's achievements in launching programs aimed at providing assistance to poor areas, and its contribution to global poverty reduction and South-South cooperation. The Chinese premier put forward several proposals aimed at speeding up realization of the MDGs and called on countries around the world to pay more attention to the issue of poverty and to increase international aid. Wen also unveiled six initiatives adopted by the Chinese government in its mission to assist developing nations, including setting up a development fund under the Food and Agricultural Organization (FAO), helping to train agricultural technicians, increasing agricultural exports, writing off debts and tariff, as well as offering assistance in the construction of clean energy projects. Referring to the U.S. financial turmoil, Wen said China was confident of coping with the negative impact of the current crisis. Confidence-building is even more important than gold and currency in the face of financial crisis, he pointed out. China will strive to maintain the stability of its macro-economy, financial and capital markets, which is vital for the stability of the global economy, he said. Wen also expressed China's willingness to cooperate with the United States in addressing the crisis, while calling on the international community to show solidarity and make joint efforts in maintaining the stability of the financial market. Wen's opinions were echoed by the participants at the meeting, who agreed that China was an important player in stabilizing the world economy and financial system. Talking about the recent tainted milk formula scandal in China, which has drawn world attention to food safety in the country, Wen stressed that the Chinese government attaches great importance to food safety and has adopted effective measures to ensure product quality and food safety. He said China will never try to pursue corporate profit or economic growth at the expense of people's health and lives. Wen noted that China's exports will not only meet international standards, but also meet the specific requirements of the importing countries. China is willing to step up cooperation with the Unites States and other nations to ensure food safety, he added. On China-U.S. relations, Wen said the two countries share broad common interests and that China and the United States are not rivals but partners in cooperation. Wen called on both sides to enhance dialogue and communication, deepen mutual trust and cooperation, and efficiently handle sensitive issues such as the Taiwan issue, in order to ensure a healthy and stable development of bilateral relations. This is in accordance with the fundamental interests of the two peoples and is conducive to world peace, stability and development, and also conforms to the trend of history, Wen said. He said the Chinese government has always attached importance to china-U.S. relations and will go all out to maintain and develop the constructive and cooperative bilateral relations, irrespective of which party comes to power in Washington. During his stay in New York, the Chinese premier also met with representatives of overseas Chinese associations and the heads of local Chinese-language media.
BEIJING, Sept. 7 (Xinhua) -- Chinese President Hu Jintao met separately with German President Horst Koehler and Japan-China Friendship Association Chairman Koichi Kato in Beijing on Sunday. The meetings took place on the sidelines of the Beijing Paralympic Games, which just opened on Saturday night. President Koehler and Kato, who is former secretary-general of the Japanese Liberal Democratic Party (LDP), both attended the Games' grand opening ceremony.Chinese President Hu Jintao meets with Koichi Kato, former secretary-general of the Japanese Liberal Democratic Party (LDP) and chairman of the Japan-China Friendship Association, in Beijing, China, on Sept. 7, 2008. Kato attended the opening ceremony of the Beijing 2008 Paralympic Games on Saturday nightWhile meeting with Koehler, Hu first welcomed his German counterpart to the Games and extended congratulations to German athletes on their "excellent performance" at the Beijing Olympic Games. During the Aug. 8-24 Olympics, the German squad placed fifth on the gold medal table with 16 golds, and also grabbed 10 silvers and 15 bronzes. Hu also took the opportunity to thank the German government and people for their support and assistance during the blizzard disaster and the Sichuan earthquake that struck China in the first half of the year. Koehler said the Beijing Paralympics opening ceremony was superbly organized, and he was particularly impressed by Li Yue, a teenage amputee ballerina from the quake zone of Sichuan who performed at the ceremony. It is important to pay attention to the long-term impact of disasters, and help those affected people rebuild their faith in life in the reconstruction process, said the German leader. Both leaders agreed to further promote bilateral relations. "The Sino-German relations have shown a sound momentum of development, thanks to concerted efforts by both sides," Hu said. "Our economic and trade cooperation is growing robustly, and remarkable progress has been made in cultural, youth and legal exchanges and cooperation," said Hu. "We have maintained communication and cooperation in major international and regional affairs." "Our countries share many common interests, and also face a lot of challenges," he added. "China is ready to work with Germany to push for a long-term, stable and sound development of bilateral ties, on the basis of mutual respect, equality and mutual benefit, and through enhancing dialogue, promoting mutual trust, deepening cooperation and properly handling differences," said the president. Koehler responded that the German side attaches great importance to the cooperative relationship between the two countries. The president commended China's accomplishments in various fields following three decades of reform and opening-up, and said that Germany hopes to share with China each other's experience in economic and social development, and work with China for world peace and development through more exchanges and dialogues. In his meeting with Kato, the Chinese president also welcomed the Japanese guest to the Paralympic Games, and congratulated him on assuming the position as chairman of the Japan-China Friendship Association. He called Kato "a senior Japanese statesman" and also "an old friend of the Chinese people." China highly appreciates Kato's contribution to the development of Sino-Japanese relations, said Hu, adding that Kato has long devoted himself to Sino-Japanese friendship and worked strenuously for restoring, improving and developing the Sino-Japanese relations. The Chinese president also thanked the Japanese government and people of various circles for their support to the Beijing Olympics and Paralympics, and wished good results for Japanese Paralympians in Beijing. He pointed out that China and Japan are both important countries in Asia and the world, thus shouldering the grave responsibility of maintaining regional and world peace and promoting common development. To further consolidate and develop the Sino-Japanese strategic relations with mutual benefit is in line with the common interests of both countries and both peoples, and is conducive to peace, stability and prosperity of Asia and the world at large, he added. China wants to work with Japan to lift the Sino-Japanese relations to a new level, through strengthening political dialogue, deepening mutually-beneficial cooperation and expanding people-to-people exchanges, Hu said. The Chinese leader highlighted the important role played by the Japan-China Friendship Association in improving and developing bilateral ties, saying that the Sino-Japanese friendship is in essence the friendship between the Chinese and Japanese people. The development of the Sino-Japanese friendship relies heavily on concerted efforts by the people of both countries, said Hu, expressing the hope that the Japan-China Friendship Association will make new contributions to the Sino-Japanese friendship. Kato spoke highly of the Beijing Olympic Games, which he said have scored a complete success. The opening ceremony of the Beijing Paralympic Games was equally grand and splendid, said Kato, who expressed the belief that both Games would be written into the history of mankind. The Japan-China Friendship Association, which has dedicated itself to Japan-China friendship for nearly 60 years, will join hands with the Chinese side to help expand bilateral exchanges and cooperation in all areas and enhance friendship between the two peoples, so as to promote the sound and stable development of Japan-China relations, he said.

DUSHANBE, July 26 (Xinhua) -- Tajik President Emomali Rakhmon and Prime Minister Akil Akilov on Saturday pledged to develop all-round cooperation with China while meeting separately with Chinese Foreign Minister Yang Jiechi. In his meeting with Rakhmon, Yang expressed his gratitude for Tajikistan's aid and support for China's earthquake relief. Tajik President Emomali Rakhmon (R) meets with Chinese Foreign Minister Yang Jiechi in Dushanbe, capital of Tajikistan, July 26, 2008. Yang attended the foreign ministers' meeting of the Shanghai Cooperation Organization (SCO) in Dushanbe on Friday. Noting that Sino-Tajik relations have been developing rapidly and soundly in recent years, Yang said the political mutual trust is deepening and the two countries have supported each other on such major issues as national sovereignty, territorial integrity and security. Pragmatic bilateral cooperation in all fields has yielded fruitful results, he added. During Rakhmon's visit to China last year, China and Tajikistan signed a treaty on good-neighborly friendship and cooperation, which would guide the future development of bilateral ties, the Chinese foreign minister said. China would like to work with Tajikistan to enhance cooperation and communication and contribute to maintaining regional stability and boosting common development, he said. Rakhmon said Tajikistan highly evaluates relations with China and appreciates China's support to his country's economic and social development. Tajikistan would continue to develop cooperation with China in all fields so as to elevate bilateral relations to a new high, he said. Tajik Prime Minister Akil Akilov (L Front) meets with Chinese Foreign Minister Yang Jiechi in Dushanbe, capital of Tajikistan, July 26, 2008Both sides also exchanged views on regional situations and the development of the Shanghai Cooperation Organization (SCO). While meeting with Akilov, Yang discussed with him ways to further strengthen bilateral cooperation. Yang said both sides should try to ensure the smooth implementation of major joint projects and explore other ways of cooperation that are compatible with market principles and conducive to economic growth of both countries. He also expressed the hope that Tajikistan will further improve its investment environment and create more favorable conditions for cooperation. Akilov said Tajikistan expects to expand cooperation with China in such areas as power generation, transportation, mining and human resources and develop stronger economic links between the two countries' border regions. Akilov pledged his government's efforts to support and facilitate Chinese investment in the central Asian nation.
BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis. The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said. "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council. "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua. OUT OF SLOWDOWN CONCERNS The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market. The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25. Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint. Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua. Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October. China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters. Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses. Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating. The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February. "Inflation is no longer a threat with the declining commodities prices," Tang said. The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook." TAX CUT TO BOOST DEMAND In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday. China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007. The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences. The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said. GLOBAL COORDINATED RESPONSE The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said. Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis. The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent. Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions. Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.
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