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QINGDAO, Shandong, Dec. 26 (Xinhua) -- China's largest rail vehicle maker, CSR Corp. Ltd, over the weekend launched its first test train that features speeds reaching up to 500 km per hour.The six-car train with a fairshaped head is the newest in the CRH series. It has a maximum tractive power of 22,800 kilowatts, compared with 9,600 kilowatts for the CRH380 trains currently in service on the Beijing-Shanghai High-Speed Railway, which hold the world speed record of 300 km per hour.The grey-color train carrying testing and data processing facilities was designed and produced by CSR Sifang Locomotive & Rolling Stock Co., Ltd (Sifang Locomotive), a CSR subsidiary based in the coastal city of Qingdao in eastern Shandong province.Ding Sansan, the company's chief technician, said the concept of the the super-speed train design was inspired by China's ancient sword. The bodywork uses plastic materials reinforced with carbon fiber.Shen Zhiyun, a locomotive expert and academician with both the Chinese academies of sciences and engineering, said the testing of the super-speed train with speeds of up to 500 km per hour will provide useful reference for current high-speed railway operations.
BEIJING, Oct. 26 (Xinhua) -- The central government allocated 935 million yuan (147 million U.S. dollars) Wednesday to areas hit by rain-triggered floods, the Ministry of Civil Affairs (MCA) said.The relief funds, jointly allocated by the MCA and the Ministry of Finance, will be used for disaster survivors to relocate, rebuild houses and buy daily necessities.The funds will also be delivered to the family members of the victims, according to the ministry.The funds will go to the flood-hit provinces of Shanxi, Henan, Hubei, Sichuan, Shanxi and Guangxi Zhuang Autonomous Region.The government already allocated 132 million yuan (20.6 million U.S. dollars) to disaster hit areas immediately after the floods happened in September.Rain-triggered floods and disasters left 97 people dead, 21 missing and 1.23 million affected in September in China's 11 provincial-level regions, and a total of 1.93 million people were relocated urgently to avoid further casualties.The disasters also caused an estimated 21 billion yuan (3.29 billion U.S. dollars) in direct economic losses, according to official data.

CANNES, France, Nov. 3 (Xinhua) -- Chinese President Hu Jintao on Thursday urged the world's major economies to work together to promote growth and financial stability."It is imperative that we stand on a higher plane, transcend differences on specific issues, move beyond short-term considerations, and jointly seek ways to overcome the crisis and sustain development," Hu told the Group of 20 (G20) summit here."At this critical moment, the G20 must work to address the key problems, boost market confidence, defuse risks and meet challenges and promote global economic growth and financial stability," said Hu.As the premier forum for international economic cooperation, the G20 must continue to demonstrate the spirit of standing together in times of adversity and pursuing win-win cooperation, he said.The Chinese president said "the current world economic situation deserves our high attention," cautioning the global recovery is fraught with instability and uncertainty and faces growing risks and challenges.Some major economies are experiencing economic slowdown and some countries are facing acute sovereign debt problems, said Hu.He also cited volatility in the international financial markets, and high inflationary pressure in emerging markets.Hu put forward a five-point proposal on what G20 nations need to do to tide over the crisis.First, the countries should ensure growth while paying attention to balance. Given the serious risks facing the global economy and continued market volatility, ensuring growth and promoting stability should be the top priority, he said."We should introduce new and strong measures to ensure that fiscal and monetary policies are fully implemented and that funding is channeled into the real economy to boost production and employment."Second, the G20 nations should strengthen unity and send a strong signal to the world as there is widespread panic and acute lack of confidence in the markets, said Hu.He urged G20 members to strengthen consultation and coordination, tackle sovereign debt risks, regulate cross-border capital flow, put the fluctuation of commodity prices under control, mitigate global inflationary pressure and make sure that the economic policies pursued by various countries do not offset each other.Third, global economic governance should be improved through reform, Hu said.The international financial crisis has highlighted the deficiencies in the global economic governance system, said Hu."Major efforts should be made to reform and improve the international monetary system, international trading system and commodity pricing mechanism," said the Chinese president.
CANNES, France, Nov. 3 (Xinhua) -- Chinese President Hu Jintao met here Wednesday his French counterpart Nicolas Sarkozy on bilateral ties and other issues of common concern, including the Group of 20 summit scheduled for Thursday and Friday.Hu pointed out that since the global economic recovery is now burdened by quite a few instable and uncertain factors, the international community has great expectations of the G20 Summit in Cannes."The Chinese side actively supports the French side to host the summit," Hu said, emphasizing that the G20 should continue to uphold the spirit of cooperation and send a clear and definite signal of securing growth and promoting stability to the international community through this summit.Hu expressed the hope that all relevant parties should jointly endeavor to make the Cannes summit a conference of solidarity and win-win cooperation.Sarkozy expressed his appreciation of the effort China has made to prepare for the G20 summit. He said the French side was ready to strengthen coordination and cooperation with the Chinese side and work with all other parties to push for positive results at the summit.Hu said Europe is the largest economy in the world, and there will be no global economic recovery without a recovery of the European economy.He pointed out that the package deal that the European Union (EU) struck lately demonstrates its will and determination to resolve Europe's debt problem. He hoped that the implementation of the package deal would help overcome the difficulties facing Europe and be conducive to the recovery and growth of the European economy."It is mainly up to Europe to resolve the European debt problem," Hu said."We believe that Europe has all the wisdom and capability to resolve the debt problem," he added.Sarkozy said Europe is committed to resolving the debt crisis by making its own effort and strengthening cooperation with the international community. Hu said China wants to see Europe prosper.Noting that it was the third time for him to meet Sarkozy so far this year, Hu said the two sides had a frank and in-depth exchange of views on bilateral links, world economic situation, G20 affairs and major international issues and reached many important consensuses.The development of China-France relations has maintained good momentum recently. President Hu paid a state visit to France in November last year and met Sarkozy in March and August this year when the French president visited China.Hu said China places importance on developing its relations with France and the EU. He also thanked Sarkozy for France's meticulous preparation for the G20 summit and its hospitality to global leaders.France values China's role and appreciates its focus on major international issues, Sarkozy said, adding that his country is willing to maintain close communication and consultation with China.
BEIJING, Dec. 2 (Xinhua) -- China cannot use its 3.2 trillion U.S. dollars in foreign exchange reserves to rescue other countries, a senior diplomat said on Friday."The argument that China should rescue Europe does not stand, as reserves are not managed that way," Vice Foreign Minister Fu Ying said at the Lanting forum, a gathering of Chinese officials, scholars and social groups held by the Ministry of Foreign Affairs to discuss international issues and foreign policy."China is not absent from international efforts to rescue Europe; it has been a positive and healthy participant," Fu said.Since the outbreak of the European financial crisis, China has dispatched more than 30 procurement delegations to Europe, helping to boost imports from the continent, Fu said.Fu added that there are many misunderstandings about the use of China's foreign reserves. "Foreign reserves are not domestic income or money that can be disposed of by the premier or finance minister," she said."Foreign reserves are akin to savings, and their liquidity should be ensured," Fu said."Foreign reserves are not revenue and cannot be relocated randomly. Under this circumstance, China should take the prospect of yields into consideration if it invests its foreign reserves," said Tian Dewen, an analyst at the Institute of European Studies at the Chinese Academy of Social Sciences.However, the outlook for the economic situation in the eurozone is currently uncertain, Tian said.Fu said China learned a lesson about the importance of foreign reserves during the Asian financial crisis of the late 1990s. ' "Reserves cannot be used domestically to alleviate poverty or taken abroad for development support," she said.She said that the way in which foreign reserves are managed should be in line with the principles of "safety, liquidity and proper profitability.""China's purchases of European bonds, International Monetary Fund bonds and U.S. bonds are also based on those principles," Fu said.Fu also said that China has no intention to gain profit by leveraging financial instruments."China will make efforts to overcome the crisis with Europe and the international community in the future," Fu said."As for the current turbulence in European markets, an authoritative voice is necessary in restoring market confidence. However, voices are diversified in Europe due to its political framework," said Chen Xin, an analyst at the Institute of European Studies at the Chinese Academy of Social Sciences.Fu also reviewed achievements made in trade and investment cooperation between the two sides."It is normal for Europe to strengthen its economic cooperation with China in the process of conquering its difficulties, although it is not proper to add negative political implications," Fu said.She urged Europe not to politicize China's foreign investments."Successful investment should be reciprocal. We hope our economic activities are not interpreted from a political prospective and are not imbued with political interests. We should follow market economy principles," Fu saidFu also took time to single out media reports about the crisis that she believes have been overtly political."Many European countries have shown their understanding and support for us, but there have also been some negative reports," Fu said."We should treat each other with a moderate and impartial mentality. That will make bilateral relations easier to handle," Fu said.She cited an investment bid by a Chinese company in Iceland that was turned down by the country's government.Zhongkun, a private Chinese real estate company founded in 1995, planned to buy 300 square km of land in Iceland to build a high-end resort with a total investment of 200 million U.S. dollars.However, Iceland's Interior Ministry rejected the bid, citing the size of the area of land involved and the fact that there is no precedent in Iceland for foreign countries to purchase large tracts of land.
来源:资阳报