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BEIJING, Oct. 18 (Xinhua) -- China Banking Regulatory Commission (CBRC) chairman Liu Mingkang has urged the banking sector to closely watch the impact of the turbulent international financial environment against the domestic financial market and improve capabilities of risk management. Speaking at a recent CBRC meeting focusing on the economic and financial situation in the third quarter, he demanded the country's banking sector learn lessons from the U.S. financial crisis and take measures to raise competitiveness. He outlined several major missions for the country's banking sector: -- implementing macro-economic control policies and making all-out efforts in pushing reform and renovation of the financial system in rural areas. -- continuing to focus on credit risk control and precautions. -- strengthening risk control on overseas investment and actively facing the challenges of turbulence in the international market. -- improving internal management. -- summing up lessons and experience from the global financial crisis and adjusting operating concepts and methods. Liu added the CBRC would enhance its supervision and management on risk and safeguard a stable and healthy development of the country's banking sector
LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao put forward proposals for dealing with major issues in international economic and social development and tackling the ongoing global financial crisis at the 16th APEC economic leaders' meeting here on Saturday. ADDRESSING INT'L PROMINENT ISSUES Hu presented five proposals for addressing the prominent issues in international economic and social development. First, APEC member economies should build consensus and promote sound development of the multilateral trading regime, Hu said. "A fair and open multilateral trading regime is conducive to the steady growth of regional and global trade, to the sound growth of the world economy and to the benefits of all parties," he said. "We should have strong confidence in the multilateral trading regime and give strong support to the Doha Round negotiations," he added. Second, APEC member economies should take up responsibilities and jointly tackle climate change, he stressed. All parties should, in keeping with the requirement of the UN Framework Convention on Climate Change and its Kyoto Protocol and the principle of "common but differentiated responsibilities," actively conduct negotiations for the implementation of the "Bali Roadmap" and take effective policy measures in light of their respective conditions to mitigate climate change. Third, exchanges and cooperation should be conducted and efforts joined to combat natural disasters, Hu said. In order to increase exchanges and cooperation in disaster response in the Asia-Pacific region, China has put forward the APEC Principles on Disaster Response and Cooperation this year, he said. "It is also our hope that APEC members will consider carrying out long-term cooperation projects in post-disaster recovery and reconstruction so as to deepen APEC cooperation in disaster prevention and relief," he added. Fourth, regulation and guidance should be enhanced and corporate social responsibility strengthened, he said. "An important lesson we have learned from the ongoing financial crisis is that while trying to maximize economic returns, enterprises should follow a prudent, well-thought-out and responsible approach in market operations," he added. Fifth, APEC members should take coordinated actions and ensure world food and energy security, Hu emphasized. "We should, following the principle of common development, actively and effectively coordinate our policies and resort to a variety of joint measures to safeguard world food and energy security," he said. "We should establish and act on a new energy security concept that calls for mutually beneficial cooperation, diverse forms of development and common energy security through coordination," he added. TACKLING FINANCIAL CRISIS "The rapidly-spreading international financial crisis, with its extensive impact, constitutes the most severe challenge confronting world economic growth," Hu said. It is a major and urgent task for all countries and regions to deal effectively with financial risks, maintain international financial stability and promote world economic development, he added, lodging three proposals. First, to curb the worsening financial crisis, all countries should take prompt and effective measures, enhance macroeconomic policy coordination, improve information sharing, help each other as much as possible, and employ all necessary fiscal and monetary means to stop the spread and development of the financial crisis, bring stability to global financial markets, stimulate economic growth, minimize the damage of the financial crisis on the real economy and avoid a global economic recession. Second, the international community should earnestly draw lessons from the ongoing financial crisis and, based on full consultations among all stakeholders, undertake necessary reform of the international financial system in a comprehensive, balanced, incremental and result-oriented way, with a view to establishing anew international financial order that is fair, just, inclusive and orderly and fostering an institutional environment conducive to sound global economic development. "The reform of the international financial system should both reflect the general law and principles of financial regulation and take into account the specific development stage and unique features of different economies," he said. It should seek a balance among the interests of all parties and reflects, in particular, the interests of emerging markets and developing countries, he added. Third, from a long-term perspective, it is necessary to change those models of economic growth that are not sustainable and to address the underlying problems in member economies. "We should also pay adequate attention to the impact of the financial crisis on the developing world and provide necessary support to relevant countries to help them maintain growth momentum," he pointed out. APEC'S FURTHER DEVELOPMENT On APEC's development, President Hu said China is ready to work with other APEC members to promote its further development. Since its launch almost 20 years ago, APEC has done a great deal in promoting trade and investment liberalization and facilitation and economic and technical cooperation, thus making positive contribution to regional economic integration and the building of an Asia-Pacific family, President Hu said. The host of major reform measures adopted within the APEC framework in recent years have improved APEC's organizing and coordinating capabilities and significantly enhanced the dynamism and efficiency of APEC cooperation, Hu said. To promote the further development of APEC, "we should maintain the nature of APEC as a forum for economic cooperation and its approach of conducting cooperation on a non-binding basis, as this best suits the diversity prevailing in the Asia-Pacific," the Chinese president said. He said that the APEC members should continue to promote balanced progress in economic and technical cooperation and trade and investment liberalization. "In particular, we should increase input in economic and technical cooperation to enhance capacity-building in developing members and narrow the development gap." Hu arrived here on Wednesday for a state visit to Peru and the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation (APEC). The APEC economic leaders' meeting opened in Lima on Saturday to discuss such issues as the ongoing global financial crisis, the Doha Round trade talks and food security. The two-day meeting would also discuss the APEC regional economic integration, corporate social responsibility, human security, APEC institutional reform, trade and investment, structural reform, anti-corruption and transparency, economic and technical cooperation, and climate change.
BEIJING, Jan. 2 (Xinhua) -- Chinese netizens have made their voices heard more loudly and their presence better recognized in headline news events over the past year. When the Beijing Olympic torch relay overseas was disrupted in April, almost all the Chinese msn messenger users posted "I love China" beside their names, a move that looked "overwhelming" to Kevin, a French man who was living in Shanghai at the time. As to domestic affairs, netizens did not sit aloof. After the dairy scandal emerged in September, netizens' strong criticisms finally led to the resignation of Li Changjiang, then director of the General Administration of Quality Supervision, Inspection and Quarantine. Yan Jirong, professor at Peking University's School of Government, said this incident showed the government was paying attention to public voices on the Internet. A report released by the Chinese Academy of Social Sciences on Dec. 2 showed about 206 million Chinese use the Internet as their main source of news. According to the China Internet Network Information Center, under-30s are the majority of online news readers, accounting for about 69 percent of total Internet users. On June 20, Hu visited the Qiangguo Forum, which is affiliated to people.com.cn, and chatted with netizens. Hu's visit drew so many clicks that it almost crashed the site. Premier Wen said frankly at a press conference on March 18 that he had been using the Internet to listen to netizens' opinions and suggestions during the annual sessions of the National People's Congress, the top legislature, and the National Committee of the Chinese People's Political Consultative Conference, the top advisory body. Fans of the two leaders started to post suggestions and support to the two leaders at beginning of July on a bulletin board of the people.com.cn, a website of the People's Daily. It was prompted by affection for Hu and Wen after seeing how they dealt with the May 12 earthquake, the fans said in their postings. After the magnitude-8.0 earthquake struck the southwestern Sichuan Province and the neighboring provinces on May 12, the two officials paid repeated visits to the devastated areas and impressed netizens with moving behavior and words. Some scholars said bluntly that the Internet had indeed built a direct link between the grassroots and the central power. Local officials, on the other hand, are going a step further to write blogs and hold debates with netizens on hot issues. Li Ou, vice mayor of Siping in the northeastern Jilin Province, has been hailed by netizens as being the most active mayor who uses his real name to debate with netizens on social affairs. Li's blog was selected as one of the "top 10 blogs of 2008" in a poll by the People's Daily based on the votes from millions of netizens. Another local official, Liao Xinbo, deputy director of the Department of Public Health of the southern Guangdong Province, was also on the list. His blog was picked for pointing out the keyto China's new medical reform plan which is likely to be issued in January, reported the People's Daily. Liao wrote on Dec. 25 that China should learn from other countries, such as Cuba, in drafting the long-delayed medical reform plan. "The government is seeking new ways for the public to voice opinions," said Yan. A survey taken by the China Youth Daily's poll center showed about 72 percent of those responding hoped the Internet would be anew path to democracy. More than half of those surveyed said the exchanges on the Internet helped to bring the government closer to the public.
BEIJING, Jan. 16 (Xinhua) -- Chinese Vice President and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau Xi Jinping Friday conferred certificates on graduates of the Party School of the CPC Central Committee. Xi, also a member of the Secretariat of the CPC Central Committee, heads the school. Politburo member and director of the CPC Central Committee Organization Department Li Yuanchao and Ling Jihua, director of the General Office of the CPC Central Committee, both members of the Secretariat of the CPC Central Committee, also attended the graduation ceremony. The ceremony marked the graduation of 577 Party officials from the Central Party School and more than 2,600 graduates from the school's branches. The Party School of the CPC Central Committee is the highest institution for training high- and middle-ranking party officials and Maxist theoreticians. The School's history dates back to the school of Marxism and Communism set up in March 1933.
This undated photo shows Chinese President Hu Jintao (front,C) visits the Shenyang Blower Works Group Co., Ltd. in northeast China's Liaoning Province. Hu inspected the province from Dec. 12 to Dec. 14, 2008. SHENYANG, Dec. 14 (Xinhua) -- Chinese President Hu Jintao called for maintaining a stable and healthy economic growth amid the challenges in industrial restructuring, export, employment and people's lives during his visit to northeast Liaoning Province from Friday to Sunday. Hu paid a visit to Liaoning, a center of heavy industries, after the annual Central Economic Work Conference, setting the tone for next year's economic development, closed on Wednesday. "Our top economic target next year is to maintain a stable and healthy growth," he said at a meeting with the provincial officials. "We should be clear about the serious challenges and difficulties from home and abroad but also realize the great opportunities and favorable conditions in it." He listed several works the country would do, such as to seriously implement macroeconomic policy, to boost economic restructuring, to greatly enhance capacities for independent innovations, to control pollution and protect the environment and to deepen the reform and opening-up. Hu also stressed that to maintain social stability was very important when the economic development faced some problems. During his visit here, the president paid visits to three large state-owned enterprises. At a new assembly line of Angang Steel Co. Ltd., the first steel producer founded by the People's Republic of China, Hu inquired about its business perspective. "As a leading company in our steel industry, we hope you to take the advantage of your technology and scale to contribute to the country's economic growth," he said. Hu expected these state-owned enterprises to focus more on research and development so that they could develop more core technologies, maintain a technical advantage and catch up with the world leading level. Export-oriented enterprises were widely affected by the global financial crisis. The president was concerned about their conditions and visited two companies during his stay here. Visiting a joint venture clothing manufacturer in Yingkou city of Liaoning, he learned that the number of overseas orders it received for next year dropped month after month. "I hope you to be more confident in face of difficulties," he said. "While maintaining the traditional markets (Europe and U.S.A.), you may try to explore new markets." At Shenyang Yuanda Aluminium Industry Engineering Co. Ltd, Hu was glad to learn that the company's revenue reported a year-on-year rise of 72 percent in the first ten months this year and the value of overseas orders increased by 1.5 times. "This was very rare and commendable in a shrinking international market," he said. "I hope you to continue the strategy to win clients through quality products." This undated photo shows Chinese President Hu Jintao (C) talks with a job provider at the human resource market of Shenyang, capital of northeast China's Liaoning Province. Hu inspected the province from Dec. 12 to Dec. 14, 2008. Hu inspected an metal research institute and a high-tech company during his visit, to show the importance the central government paid to enhancing the capacities for independent innovations. The Institute of Metal Research under the Chinese Academy of Sciences had an outstanding lab on titanium alloy research and SIASUN Robot & Automation Co. Ltd. was a national research center on Robotics, as well as a base for its industrialization. The president also expressed great concerns about common people's lives under a condition of economic slowdown. "Next year's employment market will be very serious, affected by the international financial crisis," Hu said upon visiting an employment service organization. The country would adopt a "even more active" policy to increase employment, he said, adding that all staff in employment service should work harder. In a renewed residence community, Hu dropped in the apartment of a retired worker Wan Fu. In the past three years, 52 new apartment buildings have replaced small and shabby cabins in this community, home to 2,200 families including Wan's. This undated photo shows Chinese President Hu Jintao (2nd,L) talks with an old couple, who just moved into their new house following a residence-rebuild project, in Yingkou of northeast China's Liaoning Province. Hu inspected the province from Dec. 12 to Dec. 14, 2008. Wan used to live in a 40-square-meter cabin with seven family members but now in a 54-square-meter new apartment only with his wife. Both his sons have new apartments as well. "The apartment is comfortable, warm and convenient," he told the president. "To buy this apartment, we did not have to borrow any money, but just with our savings." "The harder the economic situation is, the more attention we should pay to people's lives. The central government has decided to invest more in public service," Hu said. He promised that more people like Wan would move into new homes and retired workers would have higher pension.