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BEIJING, Feb. 21 (Xinhua) -- The Chinese government's insight and the adjustment of the economic pattern were the two major factors helping China ride out the global economic downturn, scholars said here Sunday.Zhuang Fuling, professor of Renmin University, said the Chinese government made a correct analysis of China's economic situation and took quick and resolute action.At the end of 2007, the central government called for vigilance against possible scenarios of various sorts. Moreover, in the Central Economic Work Conference held in December 2008, China drew up guidelines to cope with the global economic downturn through domestic consumption expansion, development pattern transformation, key sectors reforms, and continued effort to open up and improve people's livelihood.Ye Duchu, professor of Party School of the Central Committee of the Communist Party of China (CPC), attributed the success to China's systemic advantages."We could employ the country's fullest strength to reduce or offset the negative implications of the crisis," Ye said.The National Bureau of Statistics revealed on Jan. 21 that China maintained a GDP growth rate of 8.7 percent in 2009 despite the global recession.The global financial crisis, by nature a challenge to China's development mode, prompted the country to quicken its drive to transform its economic pattern in a bid to realize sustainable development for the future, scholars say.Lu Zhongyuan, deputy director of Development Research Center under the State Council, said China should seize the opportunity to optimize the economic structure and promote the system and technological innovation.Jin Bei, president of Institute of Economy under Chinese Academy of Social Sciences, considered the crisis a good chance for competitive enterprises to carry out strategic adjustment.On Feb. 3, Chinese President Hu Jintao called for the whole nation's efforts to accelerate the adjustment of China's economic development pattern to promote sound and fast economic and social development.Wu Zongxin, counselor of Counselors' Office of the State Council, highlighted the building of the CPC in pulling through the global economic downturn."China's good performance during crisis is attributed to its staunch and capable leadership," said Wu.The Fourth Plenary Session of the 17th CPC Central Committee urged all Party members to be prepared for dangers in times of peace and push forward Party building work to ensure the Party's "backbone" position in people's minds when coping with various domestic and overseas challenges.Zhuang said the rapid and sustained economic growth called for strengthening and improving the Party building under the new circumstances.The cadres of the Party at county levels have been trained at the Party School of the CPC Central Committee since 2008 in a bid to better cope with the global financial crisis."This is an endeavor rarely seen in the world, thus guaranteeing China's effective response in fight against the crisis," said Ye.

CHENGDU, Jan. 18 (Xinhua) -- Still recovering from the pain left by a catastrophic earthquake in 2008, people in southwest China's Sichuan Province now act swiftly to support quake-hit Haiti through donation and a candlelight vigil.About 160,000 yuan (23,400 U.S. dollars) have been donated throughout the province since Sichuan's charity groups called for emergent aid to Haiti that was ravaged by a powerful quake a week ago.  Students of the Xiang'e Primary School pray as they hold candles for Haiti children who are suffering from earthquake in Dujiangyan, southwest China's Sichuan Province, which was hit by strong earthquake last May, on Jan. 18, 2010. "I have been hoping to do something for the Haiti people as soon as I learned that the country was hit by a quake," said a 76-year-old lady in Chengdu, capital of Sichuan.The lady, surnamed Liu, donated 1,000 yuan (147 U.S. dollars), her monthly retirement pension, at the Chengdu Charity Federation on Monday."I hope all citizens in the city can do their bit to help the Haiti people," she added.More than 50,000 people were believed to have died in the 7.3-magnitude quake that struck the island country on Jan. 12. Haitian officials said it was the strongest earthquake to hit the country in more than 200 years.Eight Chinese peacekeeping police officers also died in the quake."We received the first sum of money donated for Haiti on Jan. 14, and since then, more and more citizens have come here for donations," said Zeng Zhiqian, of the Chengdu Charity Federation."Starting today, we prolong our working time by two hours. We will also work on weekends to receive donations," he said.In Dujiangyan City, about 200 students and teachers at the Xiang'e Primary School held a candlelight vigil Monday evening, praying for the children in Haiti.Sichuan is now recovering from the 8.0-magnitude quake on May 12, 2008, which left about 87,000 people dead or missing."The Haiti quake reminds me of the Wenchuan (in Sichuan) quake. We Sichuan people are beneficiaries of domestic and international assistance. Now it's time for us to give a hand to Haiti people," said Tan Yunjun, a staff of the Dongfang Turbine Co. Ltd. in Sichuan's Deyang City.The company suffered severe losses in the Wenchuan quake, with building collapses and huge casualties.The company held a donation ceremony on Monday, collecting more than 80,000 yuan from the staff in less than one hour. Zhang Zhiying, general manager of the company, said the company would contribute another 50,000 yuan."The Chinese nation has a fine tradition of being indebted to others, and every staff in our company is willing to show their love for Haiti people," said staff Chen Xin.

BEIJING, Feb. 26 (Xinhua) -- China and Zambia on Friday reaffirmed their commitments to increase the vitality of their decades-old relationship.Top Chinese legislator Wu Bangguo and Premier Wen Jiabao met respectively with Zambian President Rupiah Banda, who was on his first state visit to Beijing since becoming president in 2008. Chinese Premier Wen Jiabao (R) shakes hands with visiting Zambian President Rupiah Banda in Beijing, capital of China, Feb. 26, 2010Zambia was the first southern African nation to forge diplomatic relations with China, Wen said. The two countries' diplomatic ties were established in October 1964.

BEIJING, Feb. 20 (Xinhua) -- China Saturday issued a regulation on the implementation of the Audit Law, which required close audit to government-funded projects, to make sure financial funds were properly used.The regulation, issued by the State Council, or China's Cabinet, asked auditing offices to conduct follow-up audit to organizations or projects, which were funded or partly funded by government.The regulation was revised and passed at an executive meeting of the State Council on Feb. 2 and will become effective on May 1 this year.Under the regulation, audit authorities are entitled to launch special investigation into government departments or organizations on budget management or the management and utilization of state assets.To ensure accurate and impartial auditing, the regulation provides that organizations are entitled to apply for government adjudication, administrative review or lodge a lawsuit if they disagree with the audit results.The current Audit Law was amended and passed in February 2006 by the Standing Committee of the Tenth National People's Congress.

BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.

来源：资阳报