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BEIJING, July 23 (Xinhua) -- The Chinese government has made clear Thursday that it will continue its proactive fiscal policy in the second half of this year to maintain its economic growth as government leaders reiterated the stance, for there are still uncertainties ahead. Finance Minister Xie Xuren told local financial bureaus at a conference in Beijing on Thursday that the proactive policies, which included increased investment from the government, tax cuts and subsidies to low- income families, had taken effect in stimulating the recovery of the national economy. The Chinese economy expanded 7.9 percent from a year ago in the second quarter of this year, driven by a surge of fixed-asset investment backed by government fiscal policies. Finance Minister Xie Xuren was seen in this file photo taken on March 6, 2008 The economic growth rate accelerated from the 6.1 percent in the first quarter of this year and the 6.8 percent in the fourth quarter of last year. To weather the global economic recession, the Chinese government unveiled a four-trillion-yuan stimulus package in November to revive the world's third largest economy, which was slowed by tumbling exports. The central government promised a 1.18trillion yuan investment. By the end of June, 591.5 billion yuan (86.6 billion U.S. dollars) out of the total investment from the central government had been allocated, which boosted a 33.5 percent jump of fixed-asset investment in the first half of this year. It was the highest level in the last five years. The ministry's decision came as Chinese leaders vowed to continue the current policies. Chinese President Hu Jintao said Thursday that China should adhere to its proactive fiscal policy and moderately easy monetary policy to ensure a stable economic growth as the recovery is not yet solid. Premier Wen Jiabao has reiterated that the economy is in a crucial phase and rebounding. He pledged to maintain the current macroeconomic policies and fully implement its four-trillion yuan stimulus package. Xie said the government will implement the fiscal policy "at full swing" in the second half of this year and speed up allocation of investment from government, which, Xie hoped, would stimulate private investment. Yang Zhiyong, researcher of the Institute of Finance and Trade Economics at the Chinese Academy of Social Sciences, a government think tank, said that currently the proactive fiscal policy had a limited impact on pushing up private investment. It is hard for private investment to enter monopolistic sectors, he added. Li Yining, an economist from the Peking University, said consumption should be spurred to fuel the growth momentum in the future as the current economic recovery was advanced mainly by investment. He suggested the proactive policy be further carried out to stimulate consumption and private investment in the following period. Xie said in the second half the ministry will continue its policy of tax cuts to increase investment from enterprises and consumption. The ministry also pledged to increase spending on people's livelihood. Investment in agriculture, social security, medical care, education, science and environmental protection climbed 33.9percent from a year earlier to 1.48 trillion yuan, according the ministry. Analysts said the macroeconomic polices should also aim to adjust economic structure for the long term and to create new growth points. Jia Kang, president of the Institute of Fiscal Science, Ministry of Finance, said the government resolves to step up adjustment of economic structure as the economy is back on track for recovery. Xie said the fiscal policy in the second will support innovation and energy conservation and emission reduction to sustain the economic growth. On July 21, the ministry started a pilot program to subsidize 50 percent of investment for solar power projects, a move to boost the solar industry as a new growth point for the country's economy. Xie also urged to strengthen supervision over fiscal management and improve information transparency in the second half as fiscal expenditure in the second half faced great pressure. Wen Jiabao also described the country's fiscal situation as "severe." The ministry said the country's fiscal revenue in the first six months fell 2.4 percent from a year ago to about 3.4 trillion yuan, while its fiscal expenditure rose 26.3 percent to 2.89 trillion yuan.
NANJING, Aug. 15 (Xinhua) -- An antiwar cartoon exhibition displaying works by 110 Japanese artists opened in the eastern Chinese city of Nanjing Saturday to mark the 64th anniversary of Japan's surrender in World War II. The exhibition, jointly organized by the Memorial Hall of the Victims of the Nanjing Massacre and the Japanese non-governmental association of "My Aug. 15," will last three moths. About 160 cartoon works will be displayed, the first time the exhibition is held outside Japan, the organizers said. Most of the authors of the cartoons were born before Aug. 15, 1945 and had deep memories about the war. In addition, many of them lived in different parts of China with their parents at that time and learned of the news of Japan's surrender in China. Many years later, they produced a group of works with the theme of "My Aug. 15," conveying their condemnation about the war atrocities and reflection on the militaristic brutality. The exhibition was divided into four parts according to the authors' ages when Japan surrendered, "above 16," "8-15," "5-7" and "below four." Nine prestigious Japanese cartoonists, along with about 100 people from several Japanese NGOs, attended the opening ceremony of the exhibition Saturday. "It tells a true story," said 70-year-old artist Kenji Morita, pointing to his own work "Thanks to Adoptive Chinese Parents." "Although Japan was an invader, many Chinese parents still helped raise Japanese children orphaned by the war," he said. Leading Japanese manga artist Tetsuya Chiba also recalled the war past he experienced in China. "I was in Shenyang (capital of northeast China's Liaoning Province) the day when Japan's surrender in World War II was announced by the late Emperor Hirohito over radio. I was only six then, and I couldn't really understand what happened," Chiba told Xinhua. "I didn't manage to return to Japan immediately, so I spent a very hard year in China after Japan's surrender. But I met a very nice Chinese couple, they gave me food even when they didn't have enough to eat. When we separated, they gave me a blanket. I kept the blanket for years until I met their offspring," he said. "Aug. 15 is a meaningful day for both China and Japan, whether to mark the victory or to introspect the war. The day reminds us to be against wars," he added.
BEIJING, Aug. 28 (Xinhua) -- The China Economic and Social Council(CESC) wants to boost exchanges with Niger's Economic, Social and Cultural Council (CESOC), a senior Chinese official said Friday. Wang Gang, chairman of the CESC and member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when he met with the chairman of the CESOC Amadou Cheiffou in Beijing. Both councils grouped experts in social and economic development, Wang said, and could learn from each other, as they deepened cooperation. Wang Gang (R), member of the Political Bureau of the Communist Party of China Central Committee,vice-chairman of the National Committee of the Chinese People's Political Consultative Conference,and chairman of China Economic and Social Council, meets with Cheiffou Amadou, chairman of Niger's Economic, Social and Cultural Council, in Beijing, capital of China, on Aug. 28, 2009 Wang, also vice chairman of the National Committee of Chinese People's Political Consultative Conference, said the two nations' relations had developed well since they resumed diplomatic ties 13years ago. He also expressed appreciation to Niger's adherence to the one-China policy and its support on issues related to Taiwan and Tibet. Cheiffou said the CESOC would continue to work to further its traditional relationship with China. Cheiffou began the eight-day visit on Aug. 23. Beijing is the last leg of his tour, which has also taken in Shanghai and Guangzhou.
BEIJING, Aug. 12 (Xinhua) -- China's top economic planner, the National Development and Reform Commission, unveiled Wednesday a draft regulation on monopoly prices. The regulation applies to cases of monopoly prices both inside and outside the country, when monopoly prices outside the country impact the domestic market, according to the regulation posted on the commission's Web site. Other than deals reached among more than two parties for the purpose of monopolizing prices, power abuse of government agencies to eliminate or limit competition is also regarded as violation of the regulation. Those who violate the regulation would be punished according to stipulations in the country's anti-monopoly law, according to the commission. Individual retailers or producers may face confiscation of illegal earnings and a fine of up to 10 percent of last year's sales, while industry associations are subject to a fine of no more than 500,000 yuan (73,529.4 U.S. dollars) or could be dismissed as an association. Government agencies that violate the regulation would be ordered by their superiors to correct their actions, and officials held responsible would be disciplined according to relevant laws. The commission said the regulation was aimed to prevent monopoly prices and to endorse fair competition so as to safeguard the interests of consumers and the public. The commission is soliciting public opinion for the regulation until Sept. 6
BEIJING, Sept. 9 (Xinhua)-- China and the European Union (EU) should properly cope with trade frictions, and push forward economic and trade cooperation, Chinese Vice Premier Wang Qishan said here Wednesday. Wang was meeting with EU Trade Commissioner Catherine Ashton, who is on her first visit to China. "China and the EU should appropriately handle trade frictions, and fight resolutely against trade protectionism," he said. Since late July, the EU has launched a series of anti-dumping actions against Chinese products, covering steel wire rod, seamless steel tubes, sodium gluconate, steel cables and aluminum road wheels. "Some of China's major trading partners have shown signs of protectionism during the global financial crisis, and there has been rising trade protectionism inside the EU," said Sun Yongfu, who is department chief in charge of European affairs of Chinese Commerce Ministry. Vice premier Wang said the two sides' top priorities at the present time should be making efforts to continuously further coordination and cooperation, jointly tiding over the global financial crisis, and facilitating the recovery of regional and international economy. Chinese Vice Premier Wang Qishan (1st R) meets with European Union (EU) Trade Commissioner Catherine Ashton (1st L) in Beijing, capital of China, Sept. 9, 2009. Wang also urged the EU to recognize China's status as a market economy at an early date. The EU would like to adopt a pragmatic attitude in solving problems in bilateral trade and investment, and create a favorable environment for deepening economic and trade cooperation with China, said Ashton during the meeting. In Ashton's speech at the University of International Business and Economics earlier Wednesday, she called for the EU and China to "work on outstanding issues" in order to strengthen trade relations, the European Commission said in a press release on its website. Ashton, who began the visit on Sept. 6, said during the meeting that she was glad to see what was happening in China with her own eyes. In May, Ashton and Wang held talks in Brussels as co-chairs of the EU-China High Level Economic and Trade Dialogue, which set the strategic direction for the bilateral economic relationship and identified challenges and opportunities. Currently, China and the EU are one of the most important trade partners to each other. Bilateral trade volume reached 425.6 billion U.S. dollars in 2008. During her visit, Ashton was scheduled to meet with Chinese Commerce Minister Chen Deming and Foreign Minister Yang Jiechi, and attend the 13th China International Fair for Investment and Trade in Xiamen city of southeast Fujian Province.