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BEIJING, Jan. 19 -- The government is considering evacuating all Chinese nationals from the Haiti disaster zone, Foreign Ministry officials said Monday.If local conditions become too difficult and no country can offer shelter to the Chinese living in Haiti, the government is prepared to evacuate all nationals, Wei Wei, director of the ministry's consular department, said.Apart from the Chinese in Haiti on governmental or other business, Wei said he believed there are about 10 other nationals in Haiti - mainly working for mainland companies or at local Chinese restaurants - as well as about 20 illegal immigrants.Amid the ongoing relief efforts following the 7.0-magnitude quake, the capital Port-au-Prince has been hit by sporadic violence and looting. However, Wei said that all Chinese nationals there have been safely accommodated.A chartered flight took 11 staff of ZTE, a Chinese communications technology company, to neighboring Dominican Republic on Friday.There are also about 30 Taiwan residents in Haiti and, although Wei had no specific details, he said the government would provide help to anyone who requested it. One Taiwan resident has asked for help, he said without elaborating.About 230 Chinese were in Haiti at the time of the disaster. Most are safe but eight Chinese police officers on a peacekeeping mission died in a collapsed United Nations building. Their bodies were being flown home last night on a chartered flight.More than 50,000 people have died in the aftermath of the quake, and the final death toll could be as high as 200,000, according to Paul Antoine Bien-Aime, the nation's interior minister.And while the disaster last Tuesday may have happened on the other side of the world, the shock has been felt deeply in China, especially in Sichuan province, where residents are still recovering from the 8-magnitude quake that struck there on May 12, 2008, and killed more than 69,000."Hearing about this disaster in Haiti, although it is far away, it is as if the cracks beneath our feet have opened up again. It has all come rushing back for us," said Li Yong, a farmer in Beichuan, the county worst hit by the 2008 quake.The horrific disaster brings back bad memories for the people who lived through the Wenchuan earthquake. Huang Zhiling in Chengdu, Guo Anfei in Kunming and Wang Shanshan in Beijing reportLi Yong's family lost their home in the 2008 disaster and now live in a shabby temporary home built with wooden boards. His 18-year-old son, Li Anqiang, also had both legs amputated after being pulled from the rubble of the collapsed Beichuan Middle School. Many of his classmates were killed.Apart from what they make selling potatoes, the family survives on a monthly government subsidy of just 800 yuan (0), which is paid to them to help care for Li Anqiang. But despite the family's struggles, Li Yong said they are desperate to help those left in similar situations by the 7.3-magnitude quake in Haiti."We heard about the deaths through our neighbors. The people in Haiti are much poorer than we are, and we really want to help them. I hope that we can do something for them," he said. "Our life is good. After what we have gone through, we really feel sorry for the people in Haiti."Many in Sichuan, particularly children, are still in too much trauma to hear the word "earthquake", said Wang Zhihang, 53, a volunteer who tours schools in the area offering emotional support to victims."Those children who have been able to face the reality of the disaster in Haiti have shown real concern for the victims. Most have already joined in with fundraising events at schools across the province," said Wang, who is based in the provincial capital, Chengdu.The people in Sichuan understand full well the kind of relief operation that is now under way in Haiti. For those who were close to the epicenter in 2008, such as 20-year-old student Wang Li, they will also be able to understand the true terror of being trapped for hours by rubble.Wang was attending class at her middle school in Xiaode when the disaster struck - and was on the fourth floor when the building collapsed."The disaster in Haiti reminds me of the hours I was trapped in the dark. I was there for one day and one night," she said. "I passed out immediately when the building fell, but when I regained consciousness I could see I was buried under rock with two classmates. I knew one of them was dead. I called her name but she didn't respond. I reached out and checked her pulse, but her heart had already stopped beating."Wang lost her left leg in the disaster and had to take the national college entrance exam in a hospital ward during her recovery. She now studies at Chongqing Electronic and Engineering College."As I am a student, I cannot help out the Haitians financially but I feel their agony. All I can do is to pray for them," she said.Wei Min, 18, also lost a leg in the Sichuan earthquake. She was so moved by the kindness shown by strangers during her treatment in Chongqing, she has set her heart on a career in social work as a way to repay some of the compassion she experienced."With international aid, I believe Haiti will recover, although the process of recovering from an earthquake is lengthy," said Wei, who is from a poor farming family in Leigu, Beichuan county.
BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.

BEIJING, March 24 (Xinhua) -- China's State Council, the Cabinet, said Wednesday the country would step up efforts to encourage investment from the private sector.The government would encourage private investment in sectors currently mainly state controlled such as infrastructure for transport, telecommunications and energy, public utility, scientistic and technological programs for national defense, and the building of affordable housing, according to a statement released after the Cabinet's executive meeting Wednesday chaired by Premier Wen Jiabao.The State Council called for private firms, which played an important role in creating jobs, to strengthen independent innovation and roll out more new products, according to the statement.The government would also help some private enterprises set up technology research centers.Private companies were welcome to participate in the reform of state firms by purchasing a stake in them, it said.The government said it would create a good environment for private investment by setting up a sound administrative service system and amend unfavorable laws and regulations.In an effort to combat the global financial downturn, the government agreed at the Central Economic Work Conference last December to promote private enterprises so to create jobs, to increase market access for private investment and protect the legitimate rights and interests of private investors.
BEIJING, Feb. 26 (Xinhua) -- The Standing Committee of the National People's Congress (NPC), China's top legislature, concluded its three-day session Friday, after approving the National Defense Mobilization Law and an amendment to the Copyright Law.President Hu Jintao signed decrees to publish the new Law and the amendment to the Copyright Law, which will take effect on July 1 and April 1 respectively.The concluding meeting was presided over by Wu Bangguo, chairman of the NPC Standing Committee.The National Defense Mobilization Law "is significant for enhancing the country's national defense building, strengthening mobilization ability for national defense, as well as for safeguarding national security and ensuring economic and social development," Wu said.The top legislator warned of the "pressing task" of ensuring food safety, and called for improving the country's food safety supervision network.Final preparations were made during the bimonthly session for the upcoming 11th NPC annual session.The session was a very important meeting for expressing ideas about how the country could further develop, Wu said.He urged all the NPC Standing Committee members to listen to the opinions of NPC deputies who would attend the annual session, and fully respect their democratic rights.The Standing Committee approved the draft agenda of the upcoming annual session and a work report by the 11th NPC Standing Committee which is to be delivered by Wu at the session.The top legislature Friday appointed Wu Shuangzhan, Peng Xiaofeng, Liu Yongzhi, Liu Zhenwu, Ge Zhenfeng, and Fu Tinggui as vice chairpersons of six special committees under the NPC respectively.The Credentials Committee of the NPC Standing Committee examined the qualification of deputies to the 11th NPC. The total number now stands at 2,981, Wu said.The standing committee confirmed Friday the qualification of five senior officials including Sun Zhengcai, Wang Rulin, Sun Chunlan, Padma Choling, and Luo Huining as newly-elected deputies to the 11th NPC.They were elected in Jilin and Fujian provinces, Tibet Autonomous Region, and Qinghai Province.Members of the NPC Standing Committee also agreed to expel Chen Shi, former county head in Wuchuan county in southwest China's Guizhou Province, from the national legislature for his suspected violations of law and discipline.The top legislature also ratified a bilateral consular agreement with the Philippines.Wu Bangguo also presided over a special lecture Friday afternoon to help members of the NPC Standing Committee better understand the importance of technology innovation in supporting the country's sustainable development.
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