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Changchun, Sept. 1 (Xinhua) -- China's macro-economic policy would remain "consistent" and "stable" to consolidate a base for economic recovery, vice premier Li Keqiang said Tuesday.     Although positive factors are accumulating and momentum apparently growing, China's economy still faces many difficulties and challenges as the international financial crisis is still not over, said Li at the opening ceremony of the 5th China Jilin Northeast Asia Investment and Trade Expo, in the northeastern city of Changchun, the capital city of Jilin Province. Chinese Vice Premier Li Keqiang addresses the opening ceremony of a High Level Forum on the Northeast Asia Economic and Trade Cooperation held in Changchun, capital of northeast China's Jilin Province, Sept. 1, 2009He said the government would continue to stimulate consumer spending, push forward economic restructuring and facilitate foreign investment to energize enterprises and maintain persistent and steady economic expansion.     The revitalization of northeast China, which is known as the country's old industrial base, would play a key role in coordinating regional economic expansion and spurring domestic demand. Chinese Vice Premier Li Keqiang (2nd R, front) visits the exhibit venue after the opening ceremony of the Northeast Asia Investment and Trade Expo held in Changchun, capital of northeast China's Jilin Province, Sept. 1, 2009Northeast Asian nations are highly complementary in economic development. Strengthening economic and trade cooperation in this region would play a positive role in boosting regional development and the world economy, Li said.     China is willing to enhance cooperation with countries in the region with more open and positive attitudes to realize win-win results, he said.     The six-day exposition, which started on Tuesday, focuses on opportunities and challenges in coping with the global financial crisis. Chinese Vice Premier Li Keqiang (R, front) visits the exhibit venue after the opening ceremony of the Northeast Asia Investment and Trade Expo held in Changchun, capital of northeast China's Jilin Province, Sept. 1, 2009

HAIKOU, Oct. 12 (Xinhua) -- Rescuers have recovered the bodies of three victims in a boat capsizing incident after tropical storm Parma landed in south China's Hainan Province Monday.     Strong winds and waves triggered by Parma caused a fishing boat to capsize and sink off the coast of Wanning City Monday morning, and all nine fishermen aboard the vessel fell into water, a spokesman with the Hainan Provincial Emergency Response Office said.     By 5 p.m., one body had been retrieved and five people had been rescued. At about 8 p.m., the bodies of two more victims were found, according to the maritime bureau of Hainan. A rider falls to the ground in the heavy winds and rains in Qionghai City, south China's island Province of Hainan, Oct. 12, 2009Rescuers were still searching for one person that remained missing, the spokesman said.     Parma made a landfall in Wanning's Longgun Township at 9:50 a.m. Monday, packing winds of up to 54 km per hour, according to the Hainan Provincial Observatory.     The storm is moving northwestward at a speed of 15 km per hour.     The tropical storm brought strong winds and rains to most parts of the province, and local authorities have warned residents against flash floods, landslides and other disasters.     Price hikes of vegetable and seafood have been reported in markets in the provincial capital of Haikou, as suspension of navigation has led to commodity shortages.     In addition to Hainan, Parma brought winds and rains to coastal areas of Guangdong, Fujian and Taiwan provinces.     But the rains in parts of Guangdong have not eased a drought in the province, local authorities said. Branches levelled by heavy winds block the vehicles in Qionghai City, south China's island Province of Hainan, Oct. 12, 2009

BEIJING, Aug. 5 (Xinhua) -- China vowed to deepen its financial system reform and promote more efficient financial intermediation in support of domestic demand, according to a fact sheet released here on Wednesday. To meet the commitment, China would promote interest rate liberalization and consumer finance, said the economic track joint fact sheet of the first U.S.-China Strategic and Economic Dialogue (S&ED).     It said China would accelerate the allocation of QFII quotas to billion and continue to allow foreign-invested banks incorporated in China that meet relevant prudential requirements to enjoy the same rights as domestic banks with regard to underwriting bonds in the inter-bank market.     China would gradually increase the number of qualified joint-venture securities companies that can participate in A-share brokerage, proprietary trading and investment advisory services subject to the condition of meeting relevant laws and regulations.     The country would also support qualified overseas companies to list on Chinese stock exchanges through issuing shares or depository receipts and continuously support qualified Chinese companies to be listed abroad, including in the United States, said the fact sheet.     From the U.S. side, the country would pursue comprehensive reform of financial regulation and supervision to create a more stable financial system and to help prevent and contain potential future crises.     Regulation and supervision would be strengthened to ensure that all financial firms that pose a significant risk to the financial system will be well regulated, major financial markets will be strong enough to withstand system-wide stress and the failure of large institutions, and the government has the tools it needs to respond rapidly and effectively when problems arise, the fact sheet said.     The United States pledged to continue to have strong oversight of the Government Sponsored Enterprises (GSEs). Through Congressional action, the country remained committed to ensuring that the GSEs were able to meet their financial obligations, it said.     The country was committed to undertaking a process of exploring the future of the GSEs, including through seeking public input, and the U.S. government resolved to report to Congress and the public by S&ED II.     In the joint fact sheet, China and the United States pledged continued close communication and coordination to promote financial stability and would work together to expedite the financial sector reform, to improve financial regulation and supervision, and to promote greater financial market transparency, so as to make their financial sectors more robust.     "We recognize the importance of ensuring sound regulation in our own countries and globally," said the fact sheet.     The two countries were undertaking IMF Financial System Assessment Programs (FSAPs) and would complete them in a timely manner,it said.     Both countries would continue to promote convergence towards a single set of high quality global accounting standards and would continue discussions on financial reporting matters.     "The United States and China welcome continued dialogue between the bilateral competent authorities on the oversight of accounting firms providing audit services for public companies in the two countries based on mutual respect for sovereignty and laws," it said.     The two countries would also conduct technical exchanges on the development of private pensions, and would share experiences and strengthen cooperation with regard to improvement of insurance regulation.     The first S&ED was held in Washington, D.C from July 27 to 28. The mechanism was jointly launched by Chinese President Hu Jintao and US President Obama during their meeting in April in London as a way to show elevation of the importance of China-U.S. cooperation under the new historical circumstances.  

BEIJING, Aug. 19 (Xinhua) -- China on Wednesday called for more policy assistance and financial support to encourage the development of small and medium-sized enterprises (SMEs).     Attendees at a State Council executive meeting, chaired by Premier Wen Jiabao, agreed that promoting the sound development of the SMEs was of great importance to maintain economic growth and social stability.     The government would exert more efforts to improve the policy and law system to create a more open and fair competition environment for SMEs.     Measures would be taken to help SMEs tackle financing difficulties, and the establishment of the Growth Enterprise Market (GEM), the country's first Nasdaq-style market, would speedup helping small companies raise fund.     The central government would also increase funding to support the SMEs, especially in sectors such as technological innovation, industrial structure adjustment and employment.     The government would pick some SMEs to participate in the country's subsidized purchasing program of home appliances, agricultural machinery and automobiles in rural areas as well as the auto, home appliance replacement program.     Attendees at the meeting demanded better services for SMEs and support to promote technological progress and structure adjustment in SMEs.     They also reviewed and approved draft regulations on national body-building and on the administration of joint-venture establishment of foreign companies or individuals in China. Both regulations would be released to public after further revision.