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SEOUL, Nov. 12 (Xinhua) -- Chinese President Hu Jintao called for concerted efforts to realize strong, sustainable and balanced growth of the world economy at the Group of 20 (G-20) summit here on Friday.Delivering a speech entitled "Build on Achievements and Promote Development" at the summit, he presented a four-point proposal for the major economies to jointly promote global economic recovery and growth.FOUR-POINT PROPOSAL FOR GLOBAL ECONOMIC GROWTHChinese President Hu Jintao attends the inauguration of the Group of 20 (G20) Summit in Seoul, capital of South Korea, Nov. 12, 2010.Hu said the world economy was slowly recovering thanks to the concerted efforts of the G-20 and the entire international community, but total demand remained insufficient in the absence of new sources of growth"Countries differ in policy objectives, making macroeconomic policy coordination even more difficult and global recovery even more fragile and uneven," he said.The Chinese leader had been promoting cooperation and coordination since he arrived in Seoul for the summit on Thursday morning."We must adopt an attitude responsible to history and the future, bear in mind the common interests of mankind, build on what we have already achieved and continue to work in concert for strong, sustainable and balanced growth of the world economy," Hu said.The first point of Hu's proposal at the summit was that the world community should improve the framework for strong, sustainable and balanced growth and promote cooperative development."Strong, sustainable and balanced economic growth is of great significance to the whole world," he said."We should stick to the country-led principle, take into full account the different national circumstances and development stages of various members, and appreciate and respect each country's independent choice of development path and policies," he added.The second point was that the world community should champion open trade and promote coordinated development."We must be firmly committed to free trade, to the consensus reached at previous G-20 summits, and to the effort of opposing all forms of protectionism and removing existing trade protectionist measures," he said.The Chinese president also called on the world community to reform the financial system and promote stable development."We should continue to push for fair and merit-based selection of the management of international financial institutions, and enable more people from developing countries to take up mid-level and senior management positions," he said.The last point of Hu's proposal was that the world community should narrow the development gap and promote balanced development.@ "We must endeavor to build a new and more equal and balanced global partnership and encourage developed and developing countries to have more mutual understanding and closer coordination rather than follow the old path of trading accusations and public confrontation," he said.

BEIJING, Dec. 8 (Xinhua) -- China's Ministry of Finance said here Wednesday that it will sell a batch of 30-year long-term book-entry treasury bonds this week at a yield of 4.23 percent.The bonds, with a total face value of 28 billion yuan (about 4.2 billion U.S. dollars), will be sold over five days starting Thursday, said the ministry in a statement on its website.The bonds are the 40th batch of the kind to be sold by the ministry this year, and will be the fifth batch of 30-year T-bonds the ministry has sold this year.The bonds will become tradable on Dec. 15 through the national inter-bank bond market and over the counter at designated commercial banks. Interest will be paid every half year.

BEIJING, Dec. 20 (Xinhua) -- Netizens in Beijing voiced their support as well as concern during the past week about draft rules designed to curb the capital city's notorious traffic congestion.The proposal, that car usage by institutions under the Beijing municipal government's jurisdiction be limited, was overwhelmingly supported, while an additional congestion fee to be paid by drivers and an odd-even license plate restriction system in downtown areas drew much opposition among netizens.The Beijing municipal government wrapped up the week-long public comment period on Sunday that sought input before rolling out the final rules.The draft rules proposed that no new cars should be added during the next five years to the already colossal car fleet for governmental and institutional usage."Equality should be strictly observed and no privilege be allowed for those government- or institution-owned cars to be used for personal business," said a netizen, Renwen Zhuyi, or literally "humanity idea"."I hope that the government could make public the information about government- and institution-owned cars for scrutiny and supervision," said a netizen with ID Hub3333.China has been pushing forward the reform on government- and institution-owned cars, but little progress was made, said Lu Ximing, director with the Shanghai Urban Traffic Planning Research Institute."What is more important is that the government will set an example in reducing traffic congestion by limiting usage of government fleet cars," Lu added.The draft rules also proposed that parking fees be hiked in central Beijing and "congestion fees" be charged in areas prone to traffic jams. This has triggered widespread concern among netizens, who think that extra-charges should be the last resort in easing the city's traffic gridlock problem."Congestion fees are not an effective prescription to ease traffic jams,"said netizen Sunny. "Without a sound systematic arrangement, congestion fees might become a lucrative racket for traffic officials.""Congestion fees are justified only if there is a highly efficient and comfortable mass transit system," said netizen "Singing Swallow".An official with the Beijing Municipal Commission of Traffic (BMCT) said the congestion fee and hiking of parking fees would effectively restrain people from excessive use of cars.Another official with the same institute further pointed out that a limit on the number of cars allowed in Beijing is needed in combating traffic problems."The Beijing municipal government has been focusing on limiting the usage, rather than buying of cars, since 2005," said Li Xiaosong, deputy director with the BMCT.Beijing has made great progress in building more infrastructure developing mass transit systems, optimizing traffic networks, and other measures since 2004, said Li."However, these achievements were overshadowed by the unusual increase in cars in recent years that has brought tremendous pressure on traffic," he said.Data from the BMCT shows there were only 78,000 cars in Beijing in 1978 and 200,000 in 1985. However, the number of cars soared after the country entered the 21st century amid fast economic growth and urbanization.Within 13 years, the number of cars in Beijing more than quadrupled to 4.7 million in 2010 from 1 million in 1997.In 2009, some 515,000 new cars were driven onto Beijing's already over-crowded roads, equivalent to the car population in Hong Kong. And this year, another 760,000 new cars will be added to the traffic gridlock.Li attributed the traffic congestion in Beijing to the excessive use of cars, low ratio of roads and concentrated car use in downtown areas."We have to bring traffic under control before it is too late," Li said.

MOHE, Heilongjiang, Jan. 1 (Xinhua) -- An oil pipeline linking Russia's far east and northeast China began operating Saturday.At 11:50 a.m., Yao Wei, general manager of the Pipeline Branch of Petro China Co., Ltd. (PBPC), pushed a button in the China-Russia border county of Mohe, Heilongjiang Province, five hours after the crude oil began being pumped through the pipeline to the border, marking the official start of operations after a two-month trial.PBPC is the operator of the Chinese section of the pipeline.The pipeline, which originates in the Russian town of Skovorodino in the far-eastern Amur region, enters China via Mohe and ends at China's northeastern city of Daqing. As 550,000 tonnes of crude oil had already traveled through the pipeline during the test run period, the Daqing terminal receives the oil 15 minutes after Yao pushed the button at Mohe."The operation of the China-Russia crude oil pipeline is the start of a new phase in China-Russia energy cooperation," Yao said at the launching ceremony.He noted that the pipeline would improve the nation's energy-imports structure and promote economic development.Sergey Tsyplakov, Russian trade representative in China, also said in early December that the completion of the pipeline project was a "milestone" for the development of both countries.Construction of the 1,000-km-long pipeline project, with 72 km within Russia and 927 km in China, started last year, and it will transport 15 million tonnes of crude oil from Russia to China annually between 2011 to 2030, according to the agreement signed between the two countries.This volume of oil means adding 8 billion U.S. dollars to the trade volume between China and Russia, and the import tariffs for China on the oil will be up to 10 billion yuan (1.5 billion U.S. dollars), according to the projection by Chinese customs officials based on the current international crude oil price.Yao said that after the oil arrives at Daqing's Linyuan Station it will enter the Pipeline Networks of Northeast China and be pumped to oil refineries in Dalian, Fushun and other cities.Luo Xuefeng, director with the entry-exit inspection and quarantine bureau of Mohe, said workers with the bureau would take daily oil samples to monitor the quality of the oil."So far, the pumped oil is qualified as regulated in the agreement," Luo said.The annual amount of oil shipped through the pipeline could increase, depending on the drilling capacity in Russia, said Tsyplakov.Further, Li Fuchuan, a researcher with the Chinese Academy of Social Sciences, said the operation of the oil pipeline would not only increase the crude trade, but also improve mutual trust between China and Russia, laying an economic foundation for the two countries' strategic partnership.Zhang Shibin, deputy manager of the PBPC Daqing branch, said although the operation has worked well during the trial period, measures need to be performed to prevent pipes from cracking in May."The pipe will face an 'important test' in May as snow and ice will melt at that time, bringing challenges to us. We will try to ensure its smooth operation," he said.

SHANGHAI, Nov. 11 (Xinhua) -- The first annual development report for east China's metropolis Shanghai was released Thursday, pointing out new strategies to build the city into an international economic, financial, trading and shipping center by 2020.The Development Report on Shanghai International Economic, Financial, Trading and Shipping Center was released by the municipal Development and Reform Commission and the municipal Development and Reform Institute.The report reviews the efforts and progress in building Shanghai on four fronts and makes proposals for future development.Shanghai set the goal of becoming the center in the four areas in 2009.At the ceremony marking the release of the report, scholars gathered to discuss Shanghai's development.In terms of becoming an international economic center, Jiang Yingshi, president of the Shanghai Society of Macroeconomics, said that Shanghai should draw on the World Expo effect to enhance its service-oriented economy, regional integration, and cultural development.To become an international financial center, Xiao Lin, deputy chief of the municipal Development and Reform Commission, said that the key task in the next decade is for Shanghai to become the RMB products trading and investment hub with world class financial services.In terms of becoming an international trading center, Yuan Zhigang, economics professor at Fudan University, said that efforts should be made to develop high end products and build Shanghai into a shopping paradise.In terms of becoming an international shipping center, scholars pointed out the importance of a modern shipping service system.The development report will be released every year starting in 2010 to keep track of each breakthrough along the way, said Xiao Lin.