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BEIJING, June 24 (Xinhua) -- The Chinese government's fiscal revenue in the first five months of 2009 reached 2.7 trillion yuan (400 billion U.S. dollars), down 6.7 percent from the same period of last year, Finance Minister Xie Xuren said Wednesday.     Xie revealed the figure in a report to the ninth session of the Standing Committee of the 11th National People's Congress (NPC), China's top legislature.     Of the total, the central government collected about 1.4 trillion yuan, down 14 percent. This accounted for 39.6 percent of the annual budget.     Local governments collected the other 1.3 trillion yuan, up 2.9 percent, which accounted for 42.4 percent of the annual budget.     Xie cited four factors for the drop in fiscal revenues: a fall in international trade due to the global economic downturn; a fall in revenue value relative to the consumer price index and producer price index; structural tax reduction polices and a slowdown in China's economic growth.     Structural tax reduction policies reduced taxes by about 230 billion yuan in the first five months, according to the report.     He said in the first five months, fiscal expenditure nationwide amounted to almost 2.25 trillion yuan, up 27.8 percent over the same period last year, accounting for 29.5 percent of the budgeted figure.     Central government expenditure totaled 459.3 billion yuan, up 21.4 percent, while local governments spent 1.79 trillion yuan, up29.5 percent, he said.     The funding went mainly to expanding public investment, increasing subsidies for low-income groups, ensuring sufficient money for education, health, social security, employment, basic housing and culture, and supporting technological innovation, energy conservation and emission reduction.     Xie stressed that the government would continue to ensure the stable growth of investment and actively implement structural tax reduction policies to ease the burden on business and consumers. Doing so would encourage companies to invest and individuals to consume.     "Efforts should be made to boost revenues and cut spending," he said, calling for frugality and strict control of expenditures by reducing government vehicle purchases, reception fees and official travel.     He said: "The construction of government and Party committee buildings should be rigidly limited."     The government would promote the scientific and meticulous management of public finances, boost efficiency and deepen fiscal system reform, he said, adding that resource tax reform would be advanced and the consumption tax system would be adjusted.     Xie said the outstanding national debt reached 5.3 trillion yuan at the end of last year, which was within the 5.5-trillion-yuan limit in the annual budget.     The government's fiscal revenue reached about 6.13 trillion yuan last year, 19.5 percent more than in 2007.     Xie said the central fund for reconstruction from last year's May 12 earthquake reached 74 billion yuan and expenditures were 69.77 billion yuan last year.     This year, the central budget allocated 130 billion yuan for reconstruction work. 

BEIJING, May 14 (Xinhua) -- Li Changchun, a senior leader of the Communist Party of China (CPC), met here with delegates from South Asian countries Thursday, calling on the broadcast institutions in China and South Asia to forge further cooperation.    ; Exchanges among broadcast institutions are a very important component of cooperation between China and South Asian countries, said Li, member of the Standing Committee of the Political Bureau of the CPC Central Committee, during a meeting with the delegates who were here to attend a China-South Asia forum on radio and television.     Li said media interactions are necessary to increase mutual understanding and boost common development between the countries.     The forum was attended by delegates from China and seven membercountries of the South Asian Association for Regional Cooperation,or SAARC. They shared their thoughts and views on the cooperation and development of media.     The theme of the forum was "Strengthening exchange and cooperation, Promoting common development. More than 30 high-ranking officials from government bodies and senior management personnel from broadcasting organizations in SAARC member countries attended the forum.

ZAGREB, June 19 (Xinhua) -- Chinese President Hu Jintao arrived in the Croatian capital of Zagreb Friday for a state visit to strengthen the comprehensive cooperative partnership between the two nations.     This is the first visit to Croatia by a Chinese head of state since the two countries established diplomatic ties 17 years ago.     In Zagreb, President Hu is expected to meet Croatian leaders to discuss how to enhance bilateral cooperation and exchange views on major regional and global issues of common concern.     The two countries are expected to sign a host of cooperation deals involving various sectors during the visit.     "I believe that President Hu's visit to Croatia will have great impact on consolidating traditional friendship between China and Croatia and deepening all-round and mutually beneficial cooperation between the two countries," said Chinese Vice Foreign Minister Li Hui last week. Chinese President Hu Jintao (2nd R, front) is welcomed upon his arrival while Croatian President Stjepan Mesic (1st R, front) looks on at Zagreb, capital of Croatia, June 19, 2009. Hu arrived in Zagreb Friday for a state visit to strengthen the comprehensive cooperative partnership between the two nationsThe China-Croatia ties have developed steadily since the two countries established diplomatic relations 17 year ago. Their bilateral relations have entered a new era since the two countries forged a comprehensive cooperative partnership in 2005.     In recent years, China and Croatia have had more high-level exchanges, strengthened their political mutual trust, expanded their fruitful cooperation to all fields, and maintained close cooperation and mutual support on issues concerning each other's basic interests.     Croatia is the last leg of President Hu's three-nation tour, which has already taken him to Russia and Slovakia.     Hu had earlier attended a summit of the Shanghai Cooperation Organization and a summit of BRIC countries (Brazil, Russia, India and China) in Yekaterinburg, Russia.  

BEIJING, July 1 (Xinhua) -- Chinese Premier Wen Jiabao and his British counterpart Gordon Brown on Wednesday held a telephone conversation on bilateral ties and other issues of common concern.     Wen said China-Britain ties are currently developing smoothly, and the two sides have conducted close communication and coordination on tackling the global financial crisis and climate change, and have played positive and constructive roles in the international arena.     He said China is willing to keep high-level exchanges with Britain, strengthen bilateral cooperation, push forward bilateral ties, and make joint efforts with Britain to make a contribution to the world's sustainable development.     Brown said Britain attaches great importance to the development of its comprehensive strategic partnership with China, appreciates the Chinese government's firm resolution and vigorous measures adopted in handling of the global financial crisis, supports China's important role in tackling climate change, and hopes to deepen mutually beneficial cooperation with China in various fields.     The two leaders also exchanged views on other international issues of common concern

HONG KONG, June 30 (Xinhua) -- The renminbi deposits with authorized institutions in Hong Kong rose 0.8 percent in May to 53. 4 billion yuan (7.8 billion U.S. dollars), representing about 2 percent of the foreign currency deposits, the Hong Kong Monetary Authority said Tuesday.     The total deposits rose 2 percent in the same month, with the HK dollar deposits rising 2.7 percent as the expansion in demand and savings deposits exceeded the contraction in time deposits.     Foreign currency deposits climbed 1.4 percent.     Seasonally-adjusted HK dollar M1, the narrowest measure of money supply in an economy, rose 9.6 percent in May and 26.8 percent from a year earlier. Unadjusted HK dollar M3, the broader measure, grew 2.5 percent in May and 8.1 percent year on year.     Hong Kong, a southern Chinese special administrative region and free trade hub, has been trying to foster the development of RMB financial market recently with a pilot scheme using yuan for cross- border trade settlement and the issuing of yuan-denominatedbonds in Hong Kong by local and foreign banks operating in the mainland.