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BEIJING, June 18 (Xinhua) -- China's fiscal risk is controllable as it aims for a balanced economy, a senior finance official said Friday in a call for "growth-friendly" fiscal consolidation of the world economy."According to some indicators, the fiscal risk China is facing is controllable, and China's fiscal development retains sound momentum," said Vice Finance Minister Zhu Guangyao at a news briefing on the fourth Group of 20 (G20) summit.China's budget deficit accounted for 2.9 percent of GDP in 2009 and was expected to stand at 2.8 percent this year, said Zhu."Even facing healthy and sound momentum, the Chinese government attaches importance to balanced and stable economic development," said Zhu.Fiscal consolidation would be a major topic at the Toronto summit, and the G20 leaders would discuss how to maintain robust, sustainable and balanced economic growth, said Zhu.Some European Union (EU) member states have announced austerity plans to cut public deficits in a bid to restore investor confidence in their economies and in the euro, but the fiscal consolidation measures have drawn strong opposition.Zhu said the global economy was undergoing gradual recovery, but still facing some uncertainties, especially with the European debt crisis.

PARIS, July 9 (Xinhua) -- China Changan Auto Group Corporation (CCAG) and French leading carmaker PSA Peugeot Citroen signed a contract Friday here on the creation of an equally owned joint venture in China.The contract was signed by Xu Bin, president of China South Industries Group Corporation, Changan's main shareholder, and Philippe Varin, chairman of the French part's Managing Board, at a ceremony attended by Wu Bangguo, chairman of the Standing Committee of the National People's Congress, Bernard Accoyer, president of the National Assembly of France.Their initial cooperation will focus on introducing the Citroen DS line in China and launching a dedicated new brand for the venture, the two companies said in a joint statement.The contract also allows for the joint venture to market, at a later date, further vehicles under the partners' other brands, Peugeot and Changan, they said.Based in Shenzhen, southeast of China, the joint venture will have initial annual production capacity of 200,000 vehicles and engines, which will meet the highest environmental standards. The contract also outlined two production lines, a specific range of vehicles by each side and a research and development center.The new joint venture will be capitalized at RMB 4 billion yuan (590 million U.S. dollars), to be shared equally by the two partners, and backed by an initial investment of RMB 8.4 billion yuan (1.24 billion dollars).The first vehicle is scheduled to be launched in second-half 2012, provided the joint venture is finally approved by the relevant authorities, the statement concluded.

BEIJING, July 17 (Xinhua) -- Senior Chinese political advisor Wang Gang met here Saturday with Mario Sepi, president of the European Economic and Social Committee (EESC)Wang Gang, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, said China and the European Union enjoyed sound development momentum of bilateral relationship.Wang, also head of the China Economic and Social Council(CESC), hailed the cooperation between the CESC and the EESC was increasingly closer.Concerning the round table meeting mechanism between the two organizations, Wang said the mechanism had become an important platform for China and the EU to carry out cooperation.Wang Gang (R), president of the China Economic and Social Council and vice chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with European Economic and Social Committee Mario Sepi in Beijing, capital of China, July 17, 2010. The mechanism was established in accordance with the joint statement of the 9th China-EU summit issued in September 2006.The two officials agreed to take advantage of the mechanism to promote the development of China-EU relations.CESC is a national organization offering consulting services on economic and social researches.

BEIJING, June 8 (Xinhua) -- China's central authorities have promised to treat talents in private companies and social organizations the same as their counterparts in the public sector to facilitate personnel mobility and sustainable development in the private sector.According to the newly unveiled National Medium- and Long-term Talent Development Plan (2010-2020), non-public economic groups and social organizations can enjoy equal treatment in government policy on the training, attracting, appraisal, and use of talents.Specialists in the private sector should be incorporated into talent development projects of various governments, the document said.They can have "equal access to public resources including funds, projects and information for supporting innovation and starting businesses," the document also said.The national plan, a blueprint for creating a highly skilled national work force over the next decade, aims to transform the country from being "labor-rich to talent-intensive."Zhang Lihua, professor with the Labor and Human Resources School at the Beijing-based Renmin University of China, said, "The non state-owned economic institutions and new social organizations are playing a more important role in China's economic and social development.""It's becoming more important for talents in these sectors to compete equally with others in the public sector," she said.At present, more than 70 percent of China's companies are privately-owned and generate more than 60 percent of the country's GDP.China has more than 400,000 "new social organizations," including social groups, foundations, and other non-profit and non-governmental organizations, according to figures from the Ministry of Civil Affairs.There are still many obstacles to personnel movement in government departments, government-sponsored institutions, state-owned enterprises and private companies in China.For example, a person who works in a private company cannot usually land a job easily in a government department or a state-owned company."This is why many college graduates prefer to work for government departments and state-owned companies right after their graduation," Zhang said."If the new policies of equal treatment are carried out, they can remove the obstacles, help with the free flow and allocation of resources and high-calibre talents," she said."It will support economic development in the private sector and promote technological innovation and the diffusion of knowledge."Xiao Mingzheng, director of the Human Resource Development and Management Research Center at Peking University, said, "Demand for talents has increased greatly as China witnesses a boom in non-public economic and social organizations.""To create a more open and equal environment for personnel employment, the policies will certainly help the non-public sector attract and train various kinds of talents," he said.

ATHENS, June 15 (Xinhua) -- Visiting Chinese Vice Premier Zhang Dejiang and his Greek counterpart Theodoros Pangalos on Tuesday agreed to enhance bilateral cooperation in various areas including economy, education, culture and international affairs.Zhang said that China is willing to cooperate with Greece to push forward their comprehensive strategic relations.China is ready to cooperate with Greece to expand bilateral trade and investment, and strengthen mutual understanding and friendship between the two countries, he said. Greek Deputy Primer Minister Theodoros Pangalos (L) meets with Chinese Vice Premier Zhang Dejiang in Athens, Greece, on June 15, 2010. Zhang is in Greece for an official visit. China is also willing to expand its import of Greek products and hopes that Greece could provide convenience and support for Chinese enterprises that made investments or started businesses there, said Zhang.He also urged the two sides to boost maritime cooperation.Pangalos hailed China-Greece relations as "excellent," saying Greece will continue to strengthen its strategic relations with China, and carry out effective cooperation in regional and international issues.Pangalos said Greece also hoped that the two governments could strengthen cooperation in maritime affairs, trade and economy and investment so as to achieve common development.The two nations signed a total of 14 cooperation agreements on Tuesday in the presence of the two vice premiers.