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BEIJING, May 2 (Xinhua) -- President Hu Jintao on Saturday urged young Chinese to embrace "patriotism," "diligence," "practice" and "devotion" to rejuvenate the Chinese nation. Young people should courageously shoulder their historic mission and work hard with the whole nation to build socialism with Chinese characteristics, Hu said. Chinese President Hu Jintao (front) waves to teachers and students in the China Agricultural University, in Beijing, May 2, 2009. President Hu Jintao on Saturday urged young Chinese to embrace "patriotism," "diligence," "practice" and "devotion" to rejuvenate the Chinese nationHe made the remarks during a visit to Beijing-based China Agricultural University ahead of the Chinese Youth Day, which is Monday. The day originated from the "May Fourth Movement," a mass student movement in China that began on May 4, 1919. It spearheaded a national campaign to overthrow the feudal society and promote scientific and democratic ideas. Hu, also general secretary of the Communist Party of China (CPC) Central Committee, said that in the past 90 years, generations of young Chinese, encouraged by the "May Fourth" spirit which highlights patriotism, progress, democracy and science, have made unremitting efforts in pursuit of the grand goal of rejuvenating the Chinese nation. Chinese President Hu Jintao (R) shakes hands with teachers and students during his visit to the China Agricultural University, in Beijing, May 2, 2009."Now, the bright prospect of realizing that goal has dawned before us, and the best way for modern young people to remember the movement and the forerunners is to work persistently with the whole nation for the progress of the socialist cause with Chinese characteristics," he said. The tasks the students shoulder are heavy and their mission is glorious, the president said, encouraging them to uphold patriotism, study diligently, practise what they have learned at school, and dedicate themselves to the society by working hard for the bright future of the country. Chinese President Hu Jintao (C) talks with teachers and students in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009. "First, I hope you will always uphold the banner of patriotism, as it is the spiritual backbone that has sustained the Chinese nation through all the tribulations." Hu said that in modern China, the most distinctive theme of patriotism is promoting the socialist modernization through reform and opening-up, building a well-off society and turning the blueprint of rejuvenating the Chinese nation into reality. He urged the students to realize the value of their lives through working for the country and the people. Secondly, he encouraged the students to study hard to lay a foundation for their future progress in life. "Our country's modernization drive calls for a large number of high-quality professionals, and so long as you study diligently, you will become useful people for the nation's development." Chinese President Hu Jintao (C) talks with teachers and students in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009.Thirdly, Hu called on the students to put what they've learned at school into social practice and undergo the test of harsh environment. "I hope more students will voluntarily temper themselves at the grassroots level and work at places where the country and people need them most." He also called for devotion from the young people, urging them not to just seek personal interests but dedicate themselves to the society. Chinese President Hu Jintao (L) shakes hands with a student in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009.Hu also visited the university's greenhouse and biological labs, praising its contribution to the country's agricultural development. Concerned with the issue of graduate employment, Hu encouraged the students to voluntarily choose to work at the grassroots level, and told the school to offer better service in helping them find jobs. Chinese President Hu Jintao (C, front) talks with a student in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009
MOSCOW, May 14 (Xinhua) -- Wu Bangguo, China's top legislator, met with Russian Duma Chairman Boris Gryzlov on Thursday. Both leaders stressed the importance of parliamentary cooperation and the unique role it serves bilateral relations. Wu, chairman of the Standing Committee of China's National People's Congress(NPC), hailed the bilateral parliamentary cooperation at various levels in recent years. Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.He noted that such cooperation should continue to serve the interests of bilateral ties. In particular, such cooperation should first serve the strategic mutual trust and the interests of the common concerns of China and Russia. The NPC and the Russian Parliament should provide firm support to each other on major issues involving state sovereignty, territorial integrity, and national security, he said. The two should also reinforce strategic cooperation in international and regional parliamentary organizations, safeguard common benefits, and create a conducive environment for the development of the two countries, Wu said. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.Wu also stressed the need for joint efforts to counter the current financial crisis. He called on the parliamentary bodies to approve bilateral cooperation deals on oil and natural gas on time. He also urged the implementation of already-signed cooperation agreements, and for support to help Chinese and Russian enterprises find new opportunities for cooperation within each other's economic stimulus plans. The NPC and the State Duma, the lower house of the Russian Parliament, should also be actively engaged in activities commemorating the 60th anniversary of the establishment of diplomatic ties and to broadly share the idea of friendship between the two nations, Wu said. Gryzlov said parliamentary cooperation between Russia and China has served a significant and unique role in the fast development of bilateral ties. Especially since the two parliaments established a regular exchange mechanism, more and more Duma legislators have been involved in promoting friendship between the two countries, he said. The State Duma hopes to further strengthen its ties with the NPC, and to promote bilateral cooperation in areas such as politics, economy, culture, environment, anti-terrorism and anti-drug smuggling, Gryzlov said. Wu is in Moscow for an official visit to Russia. Since arriving in Moscow on Wednesday, the legislator has met with Russian President Dmitri Medvedev and Sergei Mironov, chairman of the upper chamber of the Russian Parliament, known as the Federation Council.
WASHINGTON, April 22 (Xinhua) -- The International Monetary Fund on Wednesday warned that the global economy was in "a severe recession" and the world output is projected to decline 1.3 percent this year, the deepest global recession since the Great Depression in 1930s. "The global economy is in a severe recession inflicted by a massive financial crisis and acute loss of confidence," said the IMF in its latest World Economic Outlook report. "All corners of the globe are being affected." EPICENTER OF CRISIS According to the report, the world economy is projected to decline by 1.3 percent in 2009 as a whole and to recover only gradually in 2010, growing by 1.9 percent. "Achieving this turnaround will depend on stepping up efforts to heal the financial sector, while continuing to support demand with monetary and fiscal easing," said the IMF. The advanced economies experienced an unprecedented 7.5 percent decline in real GDP during the fourth quarter of 2008, and output is estimated to have continued to fall almost as fast during the first quarter of 2009, according to the report. Although the U.S. economy may have suffered most from intensified financial strains and the continued fall in the housing sector, western Europe and advanced Asia have been hit hard by the collapse in global trade, as well as by rising financial problems of their own and housing corrections in some national markets. Emerging economies are suffering badly and contracted 4 percent in the fourth quarter in the aggregate. The United States, at the center of an intensifying global financial storm, will contract by 2.8 percent this year, said the IMF, adding that "the biggest financial crisis since the Great Depression has pushed the United States into a severe recession." Meanwhile, the euro zone economy will shrink by 4.2 percent this year and fall a further 0.4 percent in 2010, the IMF said, criticizing the bloc for weak public policy responses and coordination. In Japan, the IMF expects 2009 output to fall 6.2 percent, far worse than its January forecast for a 2.6 percent decline. China is expected to slow to about 6.5 percent this year, half the 13 percent growth rate recorded pre-crisis in 2007 but still a strong performance given the global context, according to the IMF. UNCERTAIN OUTLOOK The IMF warned the financial crisis remains acute. "The financial market stabilization will take longer than previously envisaged, even with strong efforts by policymakers," it said. Thus, financial strains in the mature markets are projected to remain heavy until well into 2010, and overall credit to the private sector in the advanced economies is expected to decline in both 2009 and 2010. Meanwhile, emerging and developing economies are expected to face greatly curtailed access to external financing in both years. In a semi-annual report Global Financial Stability Report (GFSR), which was released on Monday, the IMF said write-down on U.S.-originated assets to be suffered by all holders will be 2.7 trillion dollars, "largely as a result of the worsening base-case scenario for economic growth." Total expected write-downs on global exposures are estimated at about 4 trillion dollars, of which two-thirds will fall on banks and the remainder on insurance companies, pension funds, hedge funds, and other intermediaries. In the latest World Economic Outlook report, the IMF warned that the current outlook is exceptionally uncertain, with risks weighed to the downside. The crisis has hurt international trade, with volume expected to plunge 11 percent this year before eking out 0.6 percent growth in 2010. Consumer prices in developed countries were under pressure and would fall 0.2 percent in 2009. "Even once the crisis is over, there will be a difficult transition period, with output growth appreciably below rates seen in the recent past," said the IMF. BOLD POLICY The IMF called for its members to take new bold policy stimulus to jump-start their economies. "This difficult and uncertain outlook argues for forceful action on both the financial and macroeconomic policy fronts," said the IMF. Past episodes of financial crisis have shown that delays in tackling the underlying problem mean an even more protracted economic downturn and even greater costs, both in terms of taxpayer money and economic activity. "Policymakers must be mindful of the cross-border ramifications of policy choices," said the IMF. "Initiatives that support trade and financial partners will help support global demand, with shared benefits." In advanced economies, scope for easing monetary policy further should be used aggressively to counter deflation risks. Although policy rates are already near the zero floor in many countries, whatever policy room remains should be used quickly, according to the IMF. Emerging economies also need to ease monetary conditions to respond to the deteriorating outlook. However, in many of those economies, the task of central banks is further complicated by the need to sustain external stability in the face of highly fragile financing flows, the IMF warned. The 185-member organization also warned against the rising protectionism. "Greater international cooperation is needed to avoid exacerbating cross-border strains," said the IMF. "Coordination and collaboration is particularly important with respect to financial policies to avoid adverse international spillovers from national actions." "A slide toward trade and financial protectionism would be hugely damaging to all, a clear warning from the experience of 1930s beggar-thy-neighbor policies," it warned.
Urumqi, June 21 (Xinhua) -- Chinese Vice President Xi Jinping has called for efforts to strengthen and improve grassroots organizations of the Communist Party of China (CPC) to ensure prosperity, development, harmony and stability in ethnic minority areas. Xi, who is also a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during his research trip to northwest China's Xinjiang Uygur Autonomous Region from June 17 to 21. Chinese Vice President Xi Jinping (C) talks with a worker while inspecting Xinjiang Joinworld Co., Ltd in northwest China's Xinjiang Uygur Autonomous Region, June 20, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21During his stay in the autonomous region, Xi toured Kashi, Bayingholin, Kalamayi, Shihezi and Urumqi cities, where he visited villages, communities, companies, schools and the Xinjiang Production and Construction Corps. In Kashi, an area frequently shaken by earthquakes in recent years, Xi looked into the progress in building anti-earthquake houses. In Urumqi, the regional capital of Xinjiang, he attended a class of a high school and talked with students. Chinese Vice President Xi Jinping (2nd R) talks with a farmer at Baren Village, Shule County in northwest China's Xinjiang Uygur Autonomous Region, June 18, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21.While visiting some big oil and chemical projects, the senior official called for developing a recycled economy and protecting resources and the environment. Before his departure, Xi addressed a workshop for local Party and government officials. Chinese Vice President Xi Jinping (back L3) talks with students of the 15th Middle School of Urumqi in northwest China's Xinjiang Uygur Autonomous Region, June 20, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21.