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KUWAIT CITY, Dec. 29 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang and Kuwaiti Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah agreed to expand economic and energy cooperation between the two countries during their meeting here on Monday. "China and Kuwait should form a lasting, stable and comprehensive partnership concerning the energy area," Li told the Kuwaiti prime minister, according to a press release from the Chinese Foreign Ministry. Li said the two sides should deepen cooperation in the energy industries and study ways of joint exploration of both upstream and downstream industries. He called on both sides to expand cooperation on infrastructure and telecommunication, increase contacts of people, and promote exchanges in the areas of finance, agriculture, science and technology and culture, in a bid to jointly respond to the change of global economic environment. Li also said China always sees its relations from a strategic perspective with the Gulf Cooperation Council (GCC) and its six members, including Saudi Arabia, the United Arab Emirates, Oman, Qatar, Bahrain and Kuwait. China is willing to further high level visits, enhance political mutual trust, broaden substantial cooperation and promote peace and stability in the Gulf region, Li said. Nasser said Kuwait and China have witnessed a strong growth of bilateral trade volume this year, and taken a big step in energy cooperation. Citing the current global financial crisis, he pledged that Kuwait is ready to further enhance cooperation with China in various fields, adding that Kuwait welcomes Chinese products and enterprises to enter the Kuwaiti market to realize common development. The Chinese vice premier also visited oil facilities in Kuwait and met with major figures of the oil industry to get a better knowledge of the Gulf Arab state's oil industry and the progress of China-Kuwait energy cooperation. China and Kuwait renewed their record of bilateral trade volume in 2007 with 3.6 billion U.S. dollars, according to official statistics, a 30-percent growth compared with that of 2006. China imported 2.3 billion dollars worth of goods from Kuwait in 2007, with 90 percent of oil products, while only exporting 1.3billion dollars of goods to Kuwait. Li and Nasser also hailed the sound state-to-state relations between China and Kuwait. Li said relations between China and Kuwait, the first Gulf state to establish diplomatic ties with China, feature "deep friendship between the two peoples, all-along mutual political trust and equal respect." Expressing his appreciation of Kuwait's support in the issues concerning China's major interests, he said China supports Kuwait's independence, sovereignty and territorial integrity. Nasser acknowledged that China was also the first big power to recognize the independence of Kuwait. Nasser said the Kuwaiti people have been always cherishing a friendly affection towards the Chinese people, and will never forget the firm support and help from the Chinese people. Kuwait is the final leg of Li's 11-day overseas visit, his first foreign visit since he took office as vice premier in March, which has also taken him to Indonesia and Egypt.
Envoys from the six nations to the Korean Peninsular nuclear talks gather to hold talks in the Diaoyutai State Guesthouse in Beijing, on Dec. 8, 2008. A new round of the six-party talks is begun here Monday afternoon for a fresh round of talks on the denuclearization of the Democratic People's Republic of Korea (DPRK). BEIJING, Dec. 8 (Xinhua) -- Envoys from the six nations gathered in Beijing on Monday for a fresh round of talks on removing nuclear programs from the Democratic People's Republic of Korea (DPRK). "I propose the talks focus on three issues," Chinese Vice Foreign Minister Wu Dawei said in his opening address late Monday afternoon. "First, verification; secondly, implementation of the remaining second phase action plan; and thirdly the establishment of a peace and security mechanism in northeast Asia." The talks, also involving the United States, Republic of Korea(ROK) Russia and Japan, got under way in Diaoyutai State Guesthouse in western Beijing. "Since our last meeting in July, all parties have kept in close communication and consultation and registered some progress, which China deeply appreciated," Wu said. Last week, chief U.S. envoy Christopher Hill and his DPRK counterpart, Kim Kye Gwan, met in Singapore. The talks were reported to be substantive, but the two parties failed to reach a deal on sampling of atomic materials. "We should participate in the meeting with a flexible and pragmatic attitude. We need joint efforts to narrow differences and lay a solid foundation for promoting talks into next phase," Wu said. The Chinese host also called on the six nations to continue to adhere to the principles of "word for word, action for action" and” phased implementation." Monday's talk lasted about one hour, with the issue of verification topping the agenda. "We discussed fuel oil, the issues of disablement schedule and verification," Hill told reporters at China World Hotel Monday night. "On fuel oil and disablement, there were no really contentious issues," said Hill. The difficulty lies in how to verify DPRK's nuclear program. "The Chinese have some ideas on how to approach the issue. What China is trying to do now is to put together a draft and circulate something tomorrow(Tuesday)," Hill said. "It has to do with the verification. The key element will be what we did in Pyongyang. As you know we want to see some further definitions of this." Sunday night, the U.S. envoy said the objective of this round of talks was to produce a verification protocol and a clear road map of what parties need to do to complete the verification. Under an agreement reached at the six-party talks in February 2007, the DPRK agreed to abandon all nuclear weapons and programs. It promised to declare all its nuclear programs and facilities by the end of 2007. In return, DPRK would get diplomatic and economic incentives. The six parties agreed to a disarmament schedule in October 2007. The DPRK said it has slowed down that process because of sluggish economic compensation. On Saturday, DPRK vowed to ignore Japan at the talks, citing Tokyo's refusal to send aid to the country as part of the agreement. Before Monday's talks began, the Chinese delegation held a series of preliminary bilateral meetings with the other five parties. Despite recent tensions, the DPRK and ROK delegations also held a rare bilateral meeting before the talks opened. Launched in 2003, the six-party talks was a vice-minister level mechanism aimed at denuclearizing the Korean Peninsula. Chinese top nuclear negotiator and Vice Foreign Minister Wu Dawei (1st R, front) addresses a fresh round of talks on the denuclearization of the Democratic People's Republic of Korea (DPRK) in the Diaoyutai State Guesthouse in Beijing, on Dec. 8, 2008. (Xinhua/Wang Jianhua)

HARARE, Dec. 23 (Xinhua) -- China donated 500,000 U.S. dollars to Zimbabwe on Tuesday to boost the country's efforts to arrest cholera epidemic which has killed more than 1,000 people since the first outbreak in August. Speaking at the donation ceremony at the Health Ministry office building in Harare, He Meng, Charge d'Affair of the Chinese Embassy in Harare, said as a long-term friend of Zimbabwe, China shares the concerns of international community over the current cholera situation, and sympathies with Zimbabwean people in their sufferings. "At the moment, Zimbabwean people are eagerly waiting for assistance fighting against cholera, we sincerely hope and believe that the money would be made best use of under the coordination of the Zimbabwean government and UN agencies, so as to alleviate the epidemic situation and help Zimbabwean people to overcome challenges at an earlier date, " He said. Zimbabwe's Health and Child Welfare Minister David Parirenyatwa said with the help of international organizations and countries friendly like China, the situation is now much better. He spoke highly of good relations between the two countries. At least 1,000 people have died of cholera while nearly 24,000 cases have been reported in Zimbabwe since August this year. However, reports on Tuesday say the disease has been contained and cases are on the decline. Zimbabwe's health sector got a major boost at the weekend when the country received 140 tons of medical supplies from the United Nations Children's Fund. Since Zimbabwe declared cholera and the health system a national emergency, a number of donors and diplomats have come in with sizeable donations. Over the weekend, Tanzania donated 40 tons of medical supplies to fight the cholera epidemic while SADC has launched an emergency request for medical aid. Last week, the United Nations Population Fund donated five tonsof surgical sundries towards central hospitals' maternity services for a period of at least three months. A fortnight ago, Namibia responded to Zimbabwean government's request for assistance with a donation of 200,000 dollars worth of drugs. Two weeks earlier, South Africa had partnered the Zimbabweans government to contain the cholera outbreak in Beitbridge. Other non-governmental organisations and UN agencies have also assisted through the provision of incentives for staff working in cholera treatment centres, logistics and experienced staff. The assistance from the donor community is earmarked either for cholera or revival of the health sector.
BEIJING, Nov. 26 (Xinhua) -- China's State Council, or the Cabinet, said on Wednesday that more efforts would be made to encourage enterprises to upgrade technology and engage in independent innovation. It also said there would be policies to promote merger and acquisition among enterprises. The policies were clinched at an executive meeting of the State Council, presided over by Premier Wen Jiabao. The meeting was held to discuss measures to address difficulties faced by enterprises and promote economic growth and deliberate plans to reform finished oil pricing mechanism and fuel taxes and fees. According to the meeting, plans would be drawn up to help some key industries, including steel, auto, ship manufacturing, petrochemical, light industry, textile, nonferrous metals, equipment manufacturing and information technology. The meeting urged banks to increase credit supply to help small and medium enterprises overcome difficulties. To offset adverse global economic conditions, the State Council on Nov. 9 has announced a 4 trillion yuan (585.7 billion U.S. dollars) stimulus package to boost domestic demand. This will be combined with other boosting measures, such as loosening credit conditions and cutting taxes. The huge amount of money will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding after several disasters, most notably the May 12 earthquake. The State Council also discussed the reform plans of finished oil pricing mechanism and fuel tax and fees at the meeting. It decided to make public the two draft reform plans to solicit public advice. According to the National Development and Reform Commission, the government has been studying a fuel tax to replace the current road tolls imposed upon vehicles. The long-awaited fuel tax and fee reform was first proposed in 1994. The State Council meeting also reached decisions to increase the storage of key materials and resources, accelerate development of the service industry and enhance measures to promote employment and social security. More education and job training would be provided among the government's efforts to increase employment. This education and training should also cover the lay-off workers and rural laborers who returned from cities because of unemployment, according to the meeting.
BEIJING, Nov. 17 -- Chinese banks should be alert to the risks of growing bad loans and narrowing profit margins amid a worsening global financial crisis and domestic interest rate cuts, a senior banking regulator has warned. China Banking Regulatory Commission Vice Chairman Jiang Dingzhi told a financial forum in Beijing on Saturday that China's banking system, despite being generally healthy, faces growing risks. "Our judgment is that losses at overseas financial institutions will widen further, and capital shortfalls will become more serious," Jiang said "The financial crisis won't end in the near term. So we should not turn a blind eye to the risks " Jiang said, warning that the first risk China may face in the coming years is "exported inflation" from developed economies. He said many developed economies have taken quick action to inject huge liquidity and credit into their banks to stabilize financial systems and it is likely that the banks will export capital to developing countries such as China (through direct investment or loans). "That may cause high inflation (for us) and we should keep a close eye on cross-border capital flows," said Jiang. Jiang also warned that bad loans, especially in the real estate sector, are the second risk that China's banks are confronted with. "Bad loans are already showing an upward trend, especially in the property market where the mortgage default risk is growing at an accelerating pace," Jiang said, without elaborating. Jiang also said Chinese banks may encounter growing losses from their overseas investment as the global financial crisis remains "far from over". The government said earlier that Chinese banks suffered "very limited losses" overseas as their exposure to bankrupt global financial companies was not much. Jiang said Chinese banks also face narrowing profit margins as the central bank cuts interest rates to boost the slowing economy. Banks are encouraged to lend after the government announced a 4 trillion yuan (586 billion U.S. dollars) stimulus plan a week ago. The People's Bank of China has cut interest rates thrice this year after economic growth cooled to 9 percent in the third quarter, the slowest rate in five years. He said the banks will see declining profits next year as lower interest rates shrink margins and loan defaults may increase. However, Jin Liqun, chairman of the supervisory board of China Investment Corp, said Chinese banks should continue market-oriented reforms despite the risks. "All these risks cannot be used as excuses to defer further reform in the banking system," said Jin at the forum. "Only with market-oriented reforms can our banks further build up their capabilities in profit-making and risk-prevention." Jiang said China's banking system remains "in good health" with all major indicators at their best levels ever. Banks' total assets, 59.3 trillion yuan at the end of September, were five times the level of 10 years ago when the Asian financial crisis erupted, he added. And banks reduced their average bad-loan ratio to 5.49 percent at the end of September, from 6.3 percent at the end of March. "These sound indicators are the basis of our confidence to battle financial crisis," Jiang said.
来源:资阳报