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WASHINGTON, Nov. 15 (Xinhua) -- Chinese President Hu Jintao on Saturday called on the international community to make concerted efforts to tide over difficulties arising from the global financial crisis. Hu made the appeal while addressing a summit meeting of the Group of Twenty (G20) on financial markets and the world economy in Washington. RESTORE MARKET CONFIDENCE President Hu urged the international community to take all necessary steps to promptly restore market confidence and stop the spread and development of the financial crisis. "The international financial crisis has now spread from some parts of the world to the entire globe, from developed countries to emerging markets, and from the financial sector to the real economy," said Hu, who arrived here Friday for the G20 summit. "To effectively deal with the financial crisis, all countries should strengthen confidence and intensify coordination and cooperation," he stressed. To deal with the crisis, Hu said major developed countries "should undertake their due responsibilities and obligations, implement macroeconomic policies that are conducive to economic and financial stability and growth both at home and internationally, take active steps to stabilize their own and the international financial markets and safeguard investors' interests." "Meanwhile, we should all enhance macroeconomic policy coordination, expand economic and financial information sharing, and deepen cooperation in international financial regulation so as to create necessary conditions for stability in both domestic and international markets," Hu added. REFORM INTERNATIONAL FINANCIAL SYSTEM Hu urged the international community to earnestly draw lessons from the ongoing financial crisis and, based on full consultations among all stakeholders, undertake necessary reform of the international financial system. "Reform of the international financial system should aim at establishing a new international financial order that is fair, just, inclusive and orderly and fostering an institutional environment conducive to sound global economic development," Hu said. He said the reform should be conducted in a comprehensive, balanced, incremental and result-oriented manner. "A comprehensive reform is one that has a general design and includes measures to improve not only the international financial system, monetary system and financial institutions, but also international financial rules and procedures," he noted. "A balanced reform is one that is based on overall consideration and seeks a balance among the interests of all parties," Hu said. "An incremental reform is one that seeks gradual progress," said the president, adding that it should proceed in a phased manner, starting with the easier issues, and achieve the final objectives of reform through sustained efforts. "A result-oriented reform is one that lays emphasis on practical results. All reform measures should contribute to international financial stability and global economic growth as well as the well being of people in all countries," he stressed. Based on those considerations, Hu listed four priorities in reforming the international financial system -- stepping up international cooperation in financial regulation; advancing reform of international financial institutions; encouraging regional financial cooperation; and improving the international currency system. HELP DEVELOPING COUNTRIES COPE WITH CRISIS President Hu also called for international efforts to help developing countries and the least developed countries cope with the global financial crisis. "When coping with the financial crisis, the international community should pay particular attention to the damage of the crisis on developing countries, especially the least developed countries (LDCs), and do all it can to minimize the damage." It is necessary to help developing countries maintain financial stability and economic growth, sustain and increase assistance to developing countries, and maintain economic and financial stability in developing countries, he said. CHINA TO PLAY CONSTRUCTIVE ROLE Responding to natural disasters and the global financial crisis, China has made timely adjustment to its policies and strengthened macroeconomic regulation, Hu said. "Steady and relatively fast growth in China is in itself an important contribution to international financial stability and world economic growth," he noted. "The Chinese government has adopted measures to boost economic development, including lowering the required reserve ratio, cutting the deposit and lending rates, and easing the corporate tax burdens," Hu told the participants. Meanwhile, as a responsible member of the international community, "China has taken an active part in the international cooperation to deal with the financial crisis and played a positive role in maintaining international financial stability and promoting the development of the world economy," he said. "Stability of the international financial markets and sustained development of the global economy are crucial to the well being of all countries and people," Hu noted. "Let us tide over the difficulties through concerted efforts and contribute our share to maintaining international financial stability and promoting global economic growth," he concluded.
BEIJING, Oct. 18 (Xinhua) -- China's quality watchdog said on Saturday the latest tests on Chinese milk powder found no trace of melamine. It was the seventh round of tests for the industrial chemical since the report of the tainted baby formula scandal that left at least three infants dead and sickened more than 50,000 others, according to the General Administration of Quality Supervision, Inspection and Quarantine. The tests covered 105 batches of baby formula from 20 brands in 10 provinces and 161 batches of other milk powder from 52 brands in 15 provinces, the agency said. So far, 804 batches of baby formula from 66 brands and 1,126 batches of other milk powder from 161 brands produced after Sept. 14 have been tested and none contained melamine. Earlier on Friday, the agency said the 12th round of tests found that Chinese liquid dairy products met the new temporary restrictions on melamine. So far, the quality watchdog had conducted sample tests on 5,797 batches of liquid dairy products manufactured after Sept. 14from 136 brands and found all safely under the limit. Last week, the government set temporary melamine content limits in dairy products of a maximum of 1 mg per kg of infant formula and a maximum 2.5 mg per kg for liquid milk, milk powder and food products that contained at least 15 percent milk. Melamine, often used in the manufacturing of plastics, was added to sub-standard or diluted milk to make the protein levels appear higher.
CHENGDU, Jan. 27 (Xinhua) -- More than one million migrant workers, who were forced to return home late last year amid the impact of the global financial crisis, have found new jobs in southwest China's Sichuan Province. Out of the 1.49 million migrant workers who had returned home, 1.03 million have found new jobs through training and job fairs organized by the government, according to the provincial labor and social security department. About 38 percent of them engage in farming and breeding, 43 percent work in the towns and the rest leave home again and find their new jobs in other provinces. So far, Sichuan has provided 5,000 training classes to 250,000 migrant workers. It also organized 53 job fairs specifically for the migrant workers, helping some 100,000 find new jobs. The province is expected to invest 80 million yuan (11.7 million yuan) this year on migrant workers training, up 77.8 percent year on year.
TAIPEI, Jan. 2 (Xinhua) -- The United Daily News, one of the biggest newspapers in Taiwan, said in an editorial on Friday that the six proposals put forward by Hu Jintao on the cross-Straits relationship are "positive" and "explicit". The editorial said that people in Taiwan mostly hold positive opinions about the six proposals, made by General Secretary of the Communist Party of China Central Committee Hu Jintao on New Year's Eve, and see goodwill and understanding in them. It noted that in Hu's address, he shows understanding that "Taiwan consciousness" does not equal to "Taiwan independence consciousness". In addition, Hu also said the mainland is willing to discuss with Taiwan "proper and reasonable arrangements" for Taiwan's participation in activities of international organizations as long as such activity does not create a scenario of "two Chinas" or "one China and one Taiwan." Chinese President Hu Jintao addresses a ceremony commemorating the 30th anniversary of the announcement of Message to Compatriots in Taiwan, held in Beijing, capital of China, on Dec. 31, 2008. The Chinese mainland commemorated the 30th anniversary of the announcement of Message to Compatriots in Taiwan here Wednesday with a ceremony. Hu made the six proposals on promoting the peaceful development of the cross-Straits relationship in his speech to commemorate the30th anniversary of the mainland's "Message to Compatriots in Taiwan." He called for increased communication and exchange in all areas and said the mainland would actively respond to any constructive proposals that would boost the peaceful development of the cross-Straits relationship. Hu said the two sides could step up contacts and exchanges on military issues "at an appropriate time" and discuss establishing a mechanism to boost mutual trust on military security.