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BERLIN, Jan. 29 (Xinhua) -- China and Germany have vowed to make joint efforts to stabilize the global economy amid the ongoing financial and economic crisis, said a joint statement issued Thursday. The cooperation between China and Germany, the world's two major export-driven economies, is of special significance for the world's efforts to tackle the financial downturn, said the statement released after visiting Chinese Premier Wen Jiabao's meeting with German Chancellor Angela Merkel. The two sides agreed to strengthen dialogue on economic and trade, currency and fiscal policies and pledged to support each other on their economic stimulus plans based on their own situations, it said. China and Germany have agreed to enhance their comprehensive strategic partnership and cooperation in jointly dealing with the global economic crisis, Wen told a press conference following his meeting with Merkel. The strengthened Sino-German cooperation is of special significance in the context of the current world economic downturn, said Wen. Chinese Premier Wen Jiabao addresses the Fifth Chinese-German Forum for Economic and Technological Cooperation in Berlin, Jan. 29, 2009The two nations should strengthen cooperation in various fields and press ahead with their comprehensive strategic partnership, which bears global responsibility amid an ailing global economy, the Chinese premier added. Echoing Wen's remarks on bilateral cooperation, Merkel said his visit has further promoted German-Chinese cooperation in such fields as politics, economy and culture. Germany is ready to promote bilateral cooperation in improving energy efficiency, environmental protection and intellectual property protection, she said. Merkel also called on the two nations to further enhance bilateral trade and economic relations despite the harsh economic environment. According to the joint statement, both nations will also seek to broaden their cooperation and inject new impulse into the economic growth, especially on such fields as climate change, infrastructure construction, transportation and logistics, financial services, and information technology, it noted. The two nations will continue to strengthen cooperation, especially in the sector of the innovative technology through such mechanism as the China-Germany joint commission for economic cooperation and the Sino-German economic and technical cooperation forum, it said. Meanwhile, the two nations also agreed to encourage bilateral cooperation between small and medium-sized enterprises (SMEs) pledging to introduce supportive measures for SMEs activities in investment, financing, taxing and trade, it added. The two sides also stressed the importance of curbing trade protectionism, saying they will oppose trade and investment protectionism in whatever forms. They also pledged to implement the consensus reached in the G20 Washington Summit in efforts to push forward the reform of global financial system. At a forum on Sino-German economic and technical cooperation on Thursday, Wen proposed that in addition to trade in goods, the two sides should expand cooperation in such service sectors as banking, insurance, telecommunications, logistics. European enterprises can absolutely increase their exports of advanced technical equipment, which would overcome the difficulties they are facing currently, but also meet the demand from the Chinese market, said Wen. The Chinese government welcomes German enterprises to play a more active role in promoting technical innovation, upgrading industrial structure, and fostering development coordination in various regions in China. Chinese companies are also encouraged to build manufacturing bases, marketing network, and research institutions, said the premier. Also on Thursday, China and Germany signed six deals, including a memorandum of understanding on the transfer from Germany of parts of the core technologies for the maglev railway projects in China. Other agreements cover cooperation in climate protection, the car industry, construction of Chinese ecological city Xuzhou, and exchanges between the museums of the two countries. Germany is the second leg of Wen's European tour after Switzerland, where he attended the annual meeting of the World Economic Forum (WEF). The week-long trip will also take him to the European Union headquarters in Brussels, Spain and Britain.
BEIJING, Jan. 28 (Xinhua) -- China's railways carried 75.05 million passengers between Jan. 11-27, or in the first 17 days of the 40-day Spring Festival travel rush. The figure represents a 17 percent increase from a year earlier, the Ministry of Railways (MOR) said Wednesday. The ministry has ordered to add more transport capacity to provinces and municipalities including Sichuan, Chongqing, and Jiangxi to brace for the post-holiday traffic rush. The regions are homes to the largest number of migrant rural workers. Hundreds of millions of Chinese went home for family gatherings in the lunar new year holiday, the most important traditional one in China, creating the world's largest population migration. In addition, 114.7 million passengers have traveled by road between Jan. 25-28, up 5.4 percent from the same period last year. Short trips account for 80 percent of the total in the first four days of the seven-day Spring Festival holiday.

BEIJING, Jan. 18 (Xinhua) -- The State Grid Corp. of China (SGCC), the country's biggest power supplier, said Sunday that its 2008 net profit fell almost 80 percent year on year due to natural disasters and higher power prices. Net profit was 9.66 billion yuan (1.4 billion U.S. dollars), compared with 47.1 billion yuan in 2007. Revenue rose 13.8 percent to 1.156 trillion yuan from a year earlier, the state-owned company noted. The power distributor suffered more than 22 billion yuan (3.2 billion U.S. dollars) of direct economic loss in the worst winter weather in at least 50 years in southern China and the May 12 earthquake. China raised the on-grid power price by 0.017 yuan per kwh in June and 0.02 yuan kwh in August to around 0.3 yuan per kwh on average to offset rising costs in power plants. But retail household power prices were capped amid concerns of a higher inflation. The company said it planned to invest 83 billion yuan (12 billion U.S. dollars) in ultra-high voltage (UHV) power lines in 2009 and 2010 to make long-distance transmission more efficient. China's power demand and installed power generating capacity would likely double to 7.4 trillion kwh and 1.47 billion kw respectively in 2020, it forecasted.
BEIJING, Jan. 25 (Xinhua) -- Many Chinese received a smaller bonus this year because of the global financial crisis and decided to tighten their belts - but they still let their hair down for the traditional Spring Festival. The freezing weather and slowdown in economic growth did not affect Chinese people's festivities, with supermarkets and shopping malls crowded with shoppers seeking goods for the Spring Festival celebration. Even dairy products, which have experienced shrinking sales because of the melamine scandal, were selling. Milk powder products of domestic brands have reappeared on the shelves, a Xinhua reporter found in Wal-Mart at Xuanwumen, Beijing. "This is the safest period for dairy products as the government has intensified quality supervision and inspection after the scandal," said saleswoman Qiao Xinhong. Many Chinese people like to buy boxed milk or yogurt for family reunions or as gifts to friends and relatives during the holiday. Dairy products, however, were only one part of people's shopping list, and snacks with wider varieties, clothes, jewellery and home appliances were also popular. The week-long Spring Festival holiday, which starts from Sunday, is China's closest equivalent to the West's Christmas shopping season. According to the Ministry of Commerce, sales at the country's major retailers on Thursday were 2.4 times as much as that on December 31. China's real retail sales growth in December accelerated 0.8 percentage points from November to 17.4 percent, according to figures released by the National Bureau of Statistics (NBS) Thursday. Retail sales jumped by 21.6 percent last year to 10.8 trillion yuan (1.6 trillion U.S. dollars), which was 4.8 percentage points higher than 2007. The booming Chinese market has become more attractive to foreign retail giants, who have suffered from weak demand caused by the global financial crisis. "Although the global financial crisis has weighed on China's economy, the fundamental of the country's economy remains unchanged and we are very optimistic about the prospects for the Chinese market," Britain's largest retailer Tesco told Xinhua in an email. Sales in the rural market, which is believed to have the great potential to boost domestic demand, has reported month-on-month increases since May. November retail sales in rural areas rose 18.3 percent, 8.2 percentage points higher compared with the same period of 2007 and for the first time surpassed urban consumption growth. Wei Wanqian, a farmer in eastern China's Shandong Province, was busy with the last-minute preparations to celebrate the Spring Festival. He bought a new tractor earlier this month. "Boosting domestic demand should be the government's major taskof economic work," said Zuo Xiaolei, senior analyst at the Beijing-based Galaxy Securities. "Effective boosting measures along with the improvement of social security system will accelerate the consumption growth by two to three percentage points this year," Zuo said. The State Council, or the Cabinet, has taken an array of measures to enhance domestic consumption. These included improving the rural distribution network, promoting the subsidized home appliance program and boosting festival consumption. More detailed measures would come out in March during the delivery of the government work report, sources said. Although the impacts of global financial crisis were still unfolding, some positive signs surfaced in December economic date, officials and analysts have said. These included the figures on money supply, consumption and industrial output. Whether the "positive changes" represented a trend was unclear, NBS director Ma Jiantang said.
MACAO, Jan. 10 (Xinhua) -- Chinese Vice President Xi Jinping Saturday said here that Macao Special Administrative Region (SAR) should promote its long-term economic diversification. Xi, who paid the first official visit to Macao since assuming the office of Chinese Vice President in March 2008, made the remark when meeting with the SAR's Chief Executive Ho Hau Wah and 113 representatives from all walks of the local society in the Macao East Asian Games Dome. Chinese Vice President Xi Jinping (R, front) meets with Macao SAR Chief Executive Ho Hau Wah in Macao, south China, Jan. 10, 2009. Like the Chinese mainland and other places, Macao was hit by the impact of the global financial crisis recently and encountered some difficulties, Xi said, adding that despite this, "we should be confident as there are also opportunities and conditions for development." Xi also said that the central government has launched a series of policies and measures to expand domestic demand and boost economic development. "We are still confident that we can curb the further spread and impact of the global financial crisis and contain its damage, so as to achieve a new period of stable and rapid economic development," he said. To ensure Macao's stable development in the face of global financial crisis, China's central government announced nine measures aimed to support Macao in six areas on Dec. 19, 2008. Chinese Vice President Xi Jinping (L front) inspects Macao Tower, the tallest building in Macao, south China, Jan. 10, 2009. These measures mainly concerned promoting the financial and infrastructure cooperation between the mainland and Macao, the overall opening-up of the mainland's service sector to Macao, and helping Macao's small-and-medium sized enterprises. He also pointed out that Macao's capacity in various fields has been greatly strengthened since its return to the motherland nine years ago, and the SAR government has relatively sufficient financial supply and abundant knowledge and experience of how to tackle the crisis. As for the development of Hengqin Island, a part of neighboring mainland city Zhuhai, Xi said the central government has decided to develop the island, but the development will be launched only when preparatory works were fully completed. The development of Hengqin Island will provide new spaces for the diversification of Macao's economy, he said, adding that the central government will take Macao's needs into full consideration. Located close to Macao, Hengqin Island is about three times the size of Macao. The land-strapped SAR has long been requesting a part in its development. Xi arrived in Macao earlier this morning, starting his two-day visit to the island city. Xi paid two visits to the SAR in 2001 and 2005 respectively before assuming the Chinese vice-presidency.
来源:资阳报