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BEIJING, Nov. 29 (Xinhua) -- Chinese President Hu Jintao warned on Saturday that the global financial turmoil will make it harder for China to maintain the pace of its economic development in the near future.     China is under growing tension from its large population, limited resources and environment problems, and needs faster reform of its economic growth pattern to achieve sustainable development, said Hu when addressing members of the Political Bureau of the Communist Party of China (CPC) Central Committee.     The nation should maintain a stable and relatively fast economic growth, accelerate structural readjustment for sustainable development, and stick to reform and opening up, said Hu, also general secretary of the CPC Central Committee.     Efforts should be made to solve problems that concern the people's fundamental interests, in order to achieve healthy and rapid economic and social development and improve people's living, the CPC chief said.     Hu also underlined the importance of efficient resource utilization and environmental protection in China's industrialization and modernization strategy, and asked for the overall development in both rural and urban areas.     The nation should not only seek fast and sound economic growth, but also promote the comprehensive development of society and its people, said Hu.     He also noted that with the spread of the global financial crisis, China is losing its competitive edge in the world market as international demand is reduced.     International competition is fiercer than ever and protectionism has started to increase in investment and trade, said Hu.     In October, China's export growth slowed to 19.2 percent from 21.5 percent in September.

BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30.     The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent.     This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year.     The growth rate was 2.3 percentage points lower than the same period of last year, and half a percentage point lower than the first half.     "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang.     The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say.     Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices.     China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted.     Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption.     "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added.     However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important.     Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market.     China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months.     Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown.     The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.

BEIJING, Jan. 9 (Xinhua) -- Chinese Foreign Minister Yang Jiechi and his Iranian counterpart Manouchehr Mottaki exchanged views over the phone Friday on promoting further development of bilateral relations in 2009 and international and regional issues of common concern.     On the situation in the Gaza Strip, Yang said China is seriously concerned and deeply worried about the grave humanitarian crisis caused by the escalation of the Palestinian-Israeli conflict.     China has made unremitting efforts to promote adoption by the United Nations Security Council of a relevant resolution on Gaza, Yang said.     He said China welcomes and supports U.N. Security Council Resolution 1860 and urges all the parties concerned to fully honor the resolution, cease fire immediately, ensure smooth operation of humanitarian assistance and promote an early relaxation of the humanitarian crisis taking place in Gaza.     China has always proposed that the issue of Palestine be resolved through political negotiation on the basis of related U.N. resolutions, the "Land for Peace" principle and the Arab Peace Initiative, he added.

BEIJING, Oct. 24 (Xinhua) -- China held a reception here on Friday to commemorate the 30th anniversary of the China-Japan Peace and Friendship Treaty signing, calling on both nations to make joint efforts to further boost bilateral relations.     President Hu Jintao and visiting Japanese Prime Minister Taro Aso attended the reception.     Recalling the history of the Sino-Japanese relations, Hu said 30 years ago senior leaders, including late leader Deng Xiaoping and ex-Japanese Prime Minister Takeo Fukuda, made a strategic decision to sign the treaty.     He called it an important historic document in bilateral ties since the normalization of relations in 1972.     Hu said the treaty had for the first time nailed down the general direction of bilateral ties featuring peaceful co-existence and long-term friendship. He added it had played an important role in pushing forward the ties in a correct fashion.     Since then, peace, friendship and cooperation remained in the mainstream of the relation despite some twists and turns, he said.     The four political documents signed between the two countries had laid a political foundation for the long term stable development of bilateral ties, Hu said, adding both sides had made hard-won progress in cooperation in various areas.     After the normalization of the ties, the political and economic exchanges between the two nations had developed quickly.     On Oct. 23, 1978, China and Japan exchanged documents of ratification of the Treaty of Peace and Friendship during the visit of the then Chinese Vice Premier Deng to Japan. This had become one of the four important political documents (the other three are the joint statement in 1972, the joint declaration in 1998 and the joint statement in May) for the ties.     Hu thanks all those who had contributed to cementing the China-Japan friendship, adding insightful officials of two countries, including the seven Japan-China friendship institutions, had made great efforts to push forward bilateral friendship, despite the variety of domestic and international situations.     The Sino-Japanese relations were at a new starting point to create history and faced important opportunities for further development.     "We are willing to work with the Japanese side to increase political mutual trust, intensify cooperation and friendly exchanges to advance China-Japan strategic and reciprocal relations," Hu noted.     Aso highlighted the bilateral exchanges and cooperation of the past 30 years, attributing the development of the relation to people who were working hard to push forward the ties.     China and Japan are permanent neighbors, and the relations between the two should be in the nature of indispensable partnership. Aso called on the two countries to continue their dialogue and exchanges at various levels and cement consultation and cooperation in aim to achieve joint development and help to promote the stability and prosperity of Asia and the world.     Aso arrived in China on Thursday evening to attend the seventh Asia-Europe Meeting. It was his first visit since taking office last month.

GUANGZHOU, Oct. 20 (Xinhua) -- Chinese exporters, faced with dwindling foreign orders amid global economic slowdown, are diverting their attention to domestic markets.     At the ongoing Canton Fair, China's leading trade fair, businesses that canvass foreign buyers are also focusing on the local market as their customers in the Western nations are dragged into recession by the global credit crisis.     Qiao Guan, board chairman of the Jiangsu Hotwind Sauna Equipment, said his company is planning to divert some of the business from abroad to the domestic market.     The company's sales in the United States, which accounted for about 30 percent of its total exports, had dropped by more than 20 percent this year, Qiao said.     He hoped the local sales could compensate the decreasing orders in the foreign market. "We have completed research on the domestic market, which shows some exported goods are affordable and have good sales prospects in the local market," he said.     The Himin Solar Energy Group, based in east China's Shandong Province, produces solar water heaters that are sold both at home and abroad. Xue Xinwen, head of the firm's international trade department, said the company had been losing orders as some Western countries canceled subsidies on environment-friendly imports.     "We have sent more staff to market our products to local infrastructure authorities and companies," he said.     "Domestic consumption has been greatly boosted by a robustly growing economy, creating positive situations for exporters to go local," he said.     But the readjustment can be difficult.     Li Jianlan, a worker with Wanji Plumbing Materials Co. Ltd, based in Ningbo, said an exclusive exporter like her company lacked channels and brand loyalty in the domestic market. "These are two different kinds of markets, and it takes a lot of work to be familiar with the ways business is done with local buyers," she said.     Some goods that are made for export are deemed too expensive for Chinese buyers.     Huang Yan, general manager of the L-bright Export Manufacture Corporation, said it had been very difficult to sell its products to domestic buyers as they lacked a price advantage.     Local governments, aware of the trend, are taking action to encourage the conversions. Guangdong Province, the country's major exporting base, issued a notice in June, ordering local quality inspection authorities to provide needed technical assistance to exporters.