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BOAO, Hainan, April 18 (Xinhua) -- Much has been talked about signs of recovery in Chinese economy, but little is certain about long-awaited rebound.     Discussing the latest development of Chinese economy at the Boao Forum for Asia (BFA), worldwide officials, business executives and professionals remained prudent about China's 8-percent gross domestic product (GDP) target in 2009, but mentioned some favorable changes in the country's economy.     Bob Hawke, former prime minister of Australia, forecast China's GDP growth between 7 percent to 8 percent. In the meantime, he believed a reversal had come.     "The four-trillion-yuan stimulus (package) is now beginning to work, and China's economy ... has reached the bottom and started to come up now," Hawke told Xinhua at the forum.     Increasing stress of sluggish exports, dampened employment and shrinking corporate profits have pulled down the Chinese economy to a growth of 6.8 percent in the fourth quarter last year.     A favorable trend might be forming in the first quarter of this year. Ding Lei, president of Shanghai General Motors Corporation Ltd., observed increasing domestic demand for motor vehicles.     "Our automobile exports remain low, but auto sales gained 12.9 percent in the first quarter compared with the fourth quarter last year," Ding said.     "China's policy package to boost automobile industry has effectively activated domestic market, and boosted the confidence of companies," Ding said.     John Cleland, chief executive officer of WestNet Infrastructure Group that has resources products trade with China, also noticed "some increase in demand".     "It's very hard to say, but there are signs of recovery of (China's demand for resources products)," he told Xinhua.     "Stockpiles of iron ore and steel in China have been reducing, so hopefully some projects that were put on hold have come back in the line," he said.     "China will come through (the crisis) quickly. Resource demand will recover. The demand for iron ore and basic commodities will recover quicker than consumer economies," he said.     Stable growth can also be expected in infrastructure. As China builds its nationwide mobile network, considerable and stable job opportunities can be created, said Per-Olof Bjork, general manager of Greater China Affairs of Ericsson Group Headquarters.     However, the changes are mainly felt in industries covered in the government's stimulus package, and China might need to go through a more painstaking path to ensure healthy and stable economic growth.     Chinese economy has shown more optimistic signals in the first quarter, but there are many uncertainties, said Chris Morley, managing director of Nielson China.     One uncertainty is the grim global economic climate. The U.S. and European economies are struggling in the crisis, which means China has to seek more internal growth to make up for the loss in exports.     The first quarter continued to see a slash in exports, which declined 19.7 percent year on year. Exports used to be one of three major sectors driving the Chinese economy, but it contributed negative 0.2 percent to the country's economic growth in the quarter.     Existing problems made it more difficult for Chinese economy to stay away from the impact of global crisis.     Yao Gang, vice chairman of the China Securities Regulatory Commission, commented that China's economy is facing a key era that calls for upgrading in development pattern and adjustment of structure.     China's mission is not only to maintain stable economic growth, but also handle excess industrial production capacity, expand domestic consumption and reduce income gap, all of which demand sophisticated policies and persistent efforts from the government, Yao said at the BFA annual conference.     On April 15, China's Cabinet, the State Council, urged faster implementation of the two batches of government investment, and kicked off the third batch.     "Only approximately 30 percent of the scheduled investment has been injected into the Chinese economy," said Edgar Hotard, board chairman of Monitor Group (China). "If the rest 70 percent were also put into the economy, it would bring further growth."     Rolf D. Cremer, dean of China Europe International Business School, said China reacted more swiftly and decisively than expected, maintaining a relatively stable growth rate, which allowed more room for adjustment and reform.     Chinese economy was still on the growing path, with industrialization and urbanization acting as the two major growth engines, said Long Yongtu, secretary-general of the BFA.     "I have always believed that Chinese economy will stop its sliding trend in a comparatively short time and return on the track of stable and rapid development," he said.

BEIJING, March 14 (Xinhua) -- World media spoke highly of Premier Wen Jiabao's remarks Friday at a press conference and policies China has adopted to battle the economic crisis, saying the two just-concluded political sessions delivered "China's confidence." The two sessions are known as the Second Session of the 11th National People's Congress (NPC) and the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC).     The U.S. Chinese Biz News said in a commentary that China has worked out various measures to boost confidence in a number of fields, noting that the package of measures was unprecedented concerning its covered area, depth and influence. Chinese Premier Wen Jiabao answers questions during a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday    "China's confidence" was frequently used by reporters covering the NPC and CPPCC, making it a key phrase of the two sessions, it added.     Zheng Yide, editor-in-chief of the U.S. Qiaobao, said the two political sessions spurred confidence of the world amid the unfolding economic turmoil.     China has pledged an 8-percent economic growth, and considering the important role it plays on the world platform, such commitment uplifts people's confidence not only in China's economy but also in the world economy, Zheng said.     The Paris-based Nouvelles d' Europe, the biggest Chinese newspaper in Europe, published a commentary saying "confidence" had been a key word running through the two political sessions and left a deep impression on the world.     The recurring word offered China as well as other countries an effective prescription for surviving the economic crisis.     Lianhe Zaobao, a leading Chinese-language newspaper in Singapore, said in an editorial that Wen has unequivocally said China is ready to confront even bigger challenges amid the financial crisis and can "roll out a new stimulus package at any time."     That is a promise not only to the Chinese people but to the whole world, the editorial said.     It is remarkable that China delivered such kind of determination and confidence at a time when the United States and Europe are still entrenched in their positions on measures to overhaul the global financial system, the editorial said.     Nanyang Siang Pau of Malaysia said that China has set an 8-percent economic growth target for this year.     The paper quoted Wen as saying that China's fiscal deficit is controllable and the government's debt level is safe.     China will keep its currency, the yuan, stable at a reasonable and balanced level, Wen was cited as saying. "No country in the world has the right to put pressure on the devaluation or appreciation of the Chinese currency."     Malaysia's China Press and Sin Chew Media also covered the conclusions of the two political sessions and Wen's press conference.

RAYONG, Thailand, April 10 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Friday to attend the East Asia Summit and related meetings in a bid to promote regional cooperation to confront the global financial crisis.     The premier's trip is aimed at enhancing mutual trust between China and east Asian countries, promote regional cooperation and boost determination and confidence to jointly tackle the crisis, which has dealt a heavy blow to the Asian economy. Chinese Premier Wen Jiabao (L Front) arrives in Phatthaya, Thailand, April 10, 2009. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Phatthaya of Thailand, including the 12th China-Association of Southeast Asian Nations (ASEAN) Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and China-Japan-South Korea Breakfast Meeting.    Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Pattaya, Thailand, including the 12th China-the Association of Southeast Asian Nations Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and a China-Japan-South Korea Breakfast Meeting.     His entourage includes Foreign Minister Yang Jiechi; Zhang Ping, chairman of the National Development and Reform Commission; Finance Minister Xie Xuren; Commerce Minister Chen Deming; Xie Fuzhan, director of the Research Office of the State Council; Chinese Ambassador to the ASEAN Xue Hanqin; Qiu Xiaoxiong, vice secretary-general of the State Council and director of the premier's office; and Assistant Foreign Minister Hu Zhengyue.  Chinese Premier Wen Jiabao (L Front) arrives in Phatthaya, Thailand, April 10, 2009. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Phatthaya of Thailand, including the 12th China-Association of Southeast Asian Nations (ASEAN) Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and China-Japan-South Korea Breakfast Meeting.

BUSAN, South Korea, April 12 (Xinhua) -- Experts from China, Japan and South Korea attending a regional forum here on Sunday called for closer cooperation among the three countries in tackling the global financial crisis.     The proposal was made at the fourth session of the Northeast Asia Trilateral Forum, a regional platform with political, business and academic experts from the three countries. Vice President of China's Xinhua News Agency Zhou Xisheng (R), Lee Hong-koo (C), former prime minister of the Republic of Korea (ROK) and Ryoki Sugita (L), head of the Nihon Keizai Shimbun (Japanese Economic News Press), attend the opening ceremony of the Forum of Northeast Asian Prominent Figures, in Pusan, ROK, April 12, 2009. The fourth Forum of Northeast Asian Prominent Figures was opened on Sunday in Pusan. In his speech to the forum, former Chinese vice premier Qian Qichen said that the issues of the financial crisis, energy security, environmental protection and climate change have been interwoven and become global challenges, and no country alone can counter these challenges.     China, Japan and South Korea are major forces in maintaining world financial stability and promoting global growth, and the most pressing task is to work together to take every necessary measure to curb the spread of the crisis and mitigate its impact on economic growth and market stability, he said. Vice President of China's Xinhua News Agency Zhou Xisheng (R) talks with Lee Hong-koo, former prime minister of the Republic of Korea (ROK), during the opening ceremony of the Forum of Northeast Asian Prominent Figures, in Pusan, ROK, April 12, 2009. The fourth Forum of Northeast Asian Prominent Figures was opened on Sunday in PusanFormer Japanese prime minister Yasuhiro Nakasone suggested in his speech that experts from the three countries form a group to search for a solution to the world financial crisis.     Former South Korean prime minister Lee Hong-koo said the consensus on building new world orders in politics, economy and other fields needs to be more broadly shared so as to better tackle the crisis that all are faced with.     The forum will focus on cooperation among South Korea, China and Japan in dealing with the world financial crisis, which will lay a good foundation for the further development of ties among the three countries, Lee said.     The Northeast Asia Trilateral Forum is a yearly event cosponsored by the Xinhua News Agency of China, the Nikkei news group of Japan and leading South Korean daily Joong Ang Ilbo, and gathers prominent figures from all walks of life in the three countries.     This year's meeting is set to discuss global financial risks, environment, energy and culture.

HONG KONG, April 12 (Xinhua) -- About 400 enterprises in the Chinese mainland had been selected to participate in the Renminbi cross-border trade settlement pilot program, Under Secretary for Financial Services and the Treasury of Hong Kong Julia Leung said here Saturday.     Speaking on a radio talk show here Saturday, Leung said enterprises in Hong Kong would soon be able to settle trades in Renminbi through the banks with the selected companies in the Chinese mainland.     Noting the program can reduce the risks and cost arising from fluctuations in exchange rates, she said Hong Kong banks could expand extensively their Renminbi services from individual clients to enterprises.     When asked whether the scheme includes trade financing, Leung said authorities in the Chinese mainland would announce the details soon.     "The Monetary Authority has made full preparation for the program including conducting tests on the Renminbi clearing system," Leung noted, adding that "the system can start operation once the Chinese mainland comes up with the operational details."     When asked whether the Hong Kong Special Administrative Region (HKSAR) government would change Hong Kong's linked exchange rate with the U.S. dollar, the under secretary said the system had been working effectively and the HKSAR government had no plan to change it.

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