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TIANJIN, Sept. 13 (Xinhua) -- Chinese Premier Wen Jiabao on Monday stressed the importance of scientific innovation in the process of shifting from "made in China" to "created in China".Wen met with entrepreneurs and answered their questions on the sidelines of the World Economic Forum (WEF) Annual Meeting of the New Champions 2010, or the Summer Davos, being held in north China's port city of Tianjin.Wen said transforming the economic growth mode through developing Chinese creation and service was a key issue if the Chinese economy was to keep a balanced, coordinated and sustainable growth.Chinese Premier Wen Jiabao speaks at the symposium to entrepreneurs attending the fourth Summer Davos forum, or the Annual Meeting of the New Champions 2010, in north China's Tianjin Municipality, Sept. 13, 2010. The premier said China would make great efforts to develop science and education, transform traditional industries through high-tech and give priority to the development of emerging industries such as energy saving, environmental protection, information and advanced manufacturing.PEOPLE'S LIVELIHOODHe said the country would seriously tackle the problem of social equality and justice through measures of tax reforms and income distribution.People should clearly realize that China is still a developing nation, he said, stressing that it was fully necessary to increase investment in sectors of food and construction, which would help improve people's lives in future.Wen also asked people to realize that Chinese people's livelihood had been improved step by step.Statistics showed that Chinese people's wage income grew 11.2 percent from 2007 to 2009, two percentage points higher than the GDP growth of that period.Wen noted that in China, labor costs are largely low, and they need a reasonable rise. But for most of the Chinese employees, the top priority is to find a job, while wage level is the second major concern.Therefore, the rise in wage should be kept at a reasonable level, so as to maintain the competitiveness of our industries, Wen said."Besides, we should understand that the rise in wage should be in line with the advance of labor productivity," he said.

BEIJING, Oct. 15 (Xinhua) -- Property prices in 70 major Chinese cities rose 9.1 percent year on year in September, the lowest growth rate so far this year, the National Bureau of Statistics (NBS) said Friday.The rate was down 0.2 percentage points from the 9.3-percent increase in August, but prices were up 0.5 percent month on month, a statement on the NBS website said.New home prices climbed 11.3 percent year on year in September, up 0.5 percent from August.Prices for second-hand homes were up 6.2 percent from a year earlier, a rise of 0.5 percent from August.Real estate investment continued to expand in the first three quarters, with the total standing at 3.4 trillion yuan (511.4 billion U.S. dollars), up 36.4 percent from the same period in 2009, the statement said.The property price growth rate peaked this year at 12.8 percent in April.

BEIJING, Sept. 14 (Xinhua) -- China on Tuesday called on Papua New Guinea to facilitate Chinese investment in the island country in southwest Pacific Ocean."We hope Papua New Guinea will provide conveniences to Chinese business investment in your country and seek common growth," Chinese Vice Premier Li Keqiang told the visiting Prime Minister of Papua New Guinea Michael Somare.Li highlighted Papua New Guinea's role as China's important trade partner and investment destination among Pacific island countries.Bilateral trade totaled about 860 million U.S. dollars in 2008, according to the Chinese Ministry of Commerce.Chinese Vice Premier Li Keqiang (R) meets with Prime Minister of Papua New Guinea Michael Somare in Beijing, capital of China, Sept. 14, 2010.Somare said his country would like to improve the investment environment, promote mutually beneficial cooperation with China and make positive efforts to advance bilateral cooperation and enhance friendship.Somare is leading a delegation to Beijing after his stop in China's port city Tianjin, where he met with Chinese Premier Wen Jiabao on the sidelines of the annual meeting of the New Champions 2010, also known as the Summer Davos.This was the second meeting between Li and Somare as Li visited Port Moresby, capital and the largest city of Papua New Guinea, last November.In their meeting in Diaoyutai Guesthouse in western Beijing later Tuesday, Li stressed the good momentum of bilateral relations in recent years, saying the two countries maintained frequent high-level exchanges and sought pragmatic cooperation in a wide range of fields.China and Papua New Guinea shared many political stances, complemented each other economically and enjoyed a huge potential for enhanced relationship, Li said.Looking to the future, Li said China would like to increase exchange of visits, expand trade and investment, explore cooperation in agriculture, forestry, fishery, energy, resources, transportation, culture, education with the island country.Li reaffirmed China's commitment to seeking stronger coordination and cooperation with Papua New Guinea on international and regional issues.Somare will conclude his China visit on Wednesday.

BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.

BEIJING, Oct. 28 (Xinhua) -- China's top legislature on Thursday ended its bimonthly session, adopting a series of bills including the long-awaited social insurance law that had been reviewed by lawmakers four times in almost three years.The law that aims to prevent the improper use of social security funds was first submitted to the legislature in December, 2007, following a scandal in Shanghai involving 3.7 billion yuan (502.3 million U.S. dollars) of social security funds.The law is to take effect on July 1, 2011.In a proposal made by the Communist Party of China (CPC) Central Committee on formulating the country's 12th Five-Year Program (2011-2015) on National Economic and Social Development issued Wednesday, the social security system is set to be improved.The National People's Congress (NPC) Standing Committee also voted to adopt the law on law application to civil relationships involving foreign interests, and the revised Organic Law of Villagers' Committees, regarding rural people having greater powers to remove villagers' committee members and to convene meetings to decide village affairs.Also adopted at the close of this legislative session were the amendments to the Law on Deputies to the NPC and Local People's Congresses at Various Levels, which further specify the rights and duties of lawmakers.Lawmakers also adopted a decision to appoint Vice President Xi Jinping as vice-chairman of the Central Military Commission (CMC) of the People's Republic of China.Born in 1953, Xi was appointed by the CPC Central Committee on Oct. 18 as vice-chairman of the CMC of the party.Xi has served in a number of positions related to the armed forces and military reserve affairs during his previous tenures at national and local levels.The top legislature also expelled Li Qihong, former deputy secretary of Zhongshan Municipal Committee of the Communist Party of China in southern Guangdong Province and former mayor of Zhongshan City, from the top legislature on suspicion of "seriously violating disciplines" concerning economic activities.

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