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PATTAYA, Thailand, April 11 (Xinhua) -- Chinese Premier Wen Jiabao, in an interview with Hong Kong and Macao reporters here Saturday, said that the Chinese economy showed signs of better than expected positive changes in the first quarter as a result of the economic stimulus package adopted by China. Firstly, the domestic demand rose on a sustainable basis. Meanwhile, investment in fixed assets increased rapidly and consumer demand grew steadily and relatively rapidly. Although lower from the same period of last year, imports and exports grew on a month-on-month basis in the three-month period, Wen said. This indicates that some sectors and enterprises in China are in a process of gradual recovery. Secondly, industries above the designated size registered month-on-month growth, with a year-on-year increase of 3.8 percent in both January and February, and a year-on-year increase of 8.3 percent in March. Thirdly, the purchase management index and the entrepreneur confidence index of the manufacturing industry both rose, indicating that the Chinese economy has begun to stabilize and recover in some fields, according to Wen. And fourthly, the market confidence went up and the economy became more active over the first three months, with increases in both the stock market and housing market transaction volumes. The positive performances in economic fields suggest that the policies adopted by the central government of China have been timely and correct, and have led to successes, the premier noted. The premier was here to attend the Association of Southeast Asian Nations (ASEAN) related summits. The Chinese premier went back home late Saturday ahead of schedule, after the Thai government postponed the summits because of domestic political unrest. The premier said we should see that China's economy is still facing very serious hardships, which can be attributed to the shrink of external demand and a relatively sharp fall in exports. This has negatively impacted export enterprises, export-oriented industries and export-oriented zones, and has resulted in decreases in business profit making, declines in financial revenues and heavier pressure on employment, he said. As the international financial crisis is deepening and spreading, we should never lose vigilance, Wen warned. As the crisis has not touched its bottom, we can hardly say that the Chinese economy alone has got out of the crisis. China cannot save the world, nor can it survive without the world, Wen said. What we should do is to exert our utmost efforts to minimize the effect of the crisis, he said. When answering questions whether China will introduce additional economic stimulus plans, Wen said the government should now step up efforts to carry out the policies and measures of the existing stimulus package. The earlier they are put into effect, the more beneficial and active they will be, he said. Firstly, it is imperative to release the additional investment for stimulating the economy that has been included into the budget. Secondly, specific rules for reforming and reviving a total of ten key industries should be formulated as early as possible. And thirdly, efforts should be made to speed up the development of the social security system, Wen said, adding that the national medical and health-care system reform launched in recent days, which has drawn international attention, should be implemented as early as possible. At the same time, it is essential to closely follow up the changing economic situation at home and abroad, and hammer out new response plans whenever necessary, said Wen. Priority should be given to strengthening social security, improving the people's livelihood and strengthening protection of the ecological environment, he said. In response to questions about the trial of cross-border trade deals in the Chinese yuan, Wen said the central government has decided to test the program in the city of Shanghai, as well as four cities in south China's Guangdong province -- Guangzhou, Shenzhen, Dongguan and Zhuhai. Hong Kong and Macao will be included in the pilot program, and ASEAN members will become the first group of foreign countries to benefit from the scheme, Wen said, adding the regulatory documents governing the pilot program will be issued in a short time, Wen said. The program will promote Hong Kong's trade development, and will help its enterprises, including those in the Pearl River Delta region and other areas in the Chinese mainland, to stave off the risks from exchange rate fluctuations, he said. This will invigorate Hong Kong's financial industry and underpin its position as an international financial hub, he added. Wen said that compared with developed countries, China, as a developing country, has undergone only a short period of time in its financial reform and development, lacking both experience and talented people, and there is also room for improvement in its financial system. At present, China allows the yuan to become convertible under the current account and it will take a long time to realize full capital account convertibility for the Chinese yuan, he said. Answering a reporter's question on whether building Shanghai into an international financial hub will rival Hong Kong's financial status, Wen said the Chinese central government has always paid close attention to the development of Hong Kong's financial sector. "I noticed that most of the media in Hong Kong showed support for the decision to build Shanghai into an international financial center, but lingering worries still remain," he said. Actually, the status of an international financial center is established not by a government decision but through market competition, he said. "I have said years ago that Hong Kong's status as an international financial center is irreplaceable due to its unique geographical advantage, a long history of financial management, extensive channels of financial operation, a full-fledged legal system and a rich pool of financial expertise," Wen said. However, Hong Kong's status as an international financial hub also meets challenges, he said. He added that what is imperative for the time being is to enhance regulation, maintain the stable, healthy and sustainable development of its financial sector, and to make due support for its economy. While developing the financial sector, Hong Kong should also spare no effort to tap the potential of its economic growth such as logistics, tourism, the health sector, science and technology, education, and high-tech industries, so as to lay a foundation forthe sustained economic development, he said. Responding to a question about the recent police investigation into Hong Kong-listed conglomerate CITIC Pacific, Wen said the issue should be addressed in accordance with the laws and financial supervision regulations of the Hong Kong Special Administrative Region, and no interference from the mainland or other parties will be allowed. Earlier this month, Hong Kong police searched the headquarters of the company, which reported huge losses from unauthorized hedging against changes in the exchange rates of Australian dollar last year. After all the facts are clarified, serious lessons should be drawn from this incident, including the company's management and its supervision, Wen said. On Macao's economic growth, Premier Wen said it has a unique economy powered mainly by its gambling industry. As the region continues to develop its gambling industry, efforts should be made to promote the region's economic diversity based on its own reality, he said. Macao's development is somewhat restrained due to its tiny area, but the central government is currently working on a long-term development plan of the Pearl River Delta to strengthen economic ties between Guangdong Province and Macao in an effort to promote Macao's development, said the premier. Because of Thailand's domestic situation, the Thai government on Saturday postponed the ASEAN related summits scheduled for April 11 and April 12. Wen said his visit to Thailand was designed to enhance the friendly cooperative relations between China and ASEAN and to make joint efforts with its members to tackle the global financial crisis. The Chinese premier said he had been aware of the situation in Thailand before his departure for the country, and his insistence on attending the summits indicated China's sincerity in this matter.
UNITED NATIONS, April 13 (Xinhua) -- China's UN envoy said Monday that the UN Security Council's response to the recent launch by the Democratic People's Republic of Korea (DPRK) should be cautious and proportionate. "Our position on the reaction from the Security Council has been very clear and consistent. That is, the reaction from the Security Council has to be cautious and proportionate," Zhang Yesui told reporters after the council adopted a presidential statement on the DPRK launch. The UN Security Council on April 13, 2009 adopted a presidential statement on the recent launch by the Democratic People's Republic of KoreaIn the statement, the 15-member council "condemns" the April 5 launch by the DPRK and calls on all member states to "comply fully with their obligations under resolution 1718," adopted by the council in October 2006. The statement also called for the early resumption of the six-party talks, which gather China, the DPRK, Japan, South Korea, Russia and the United States. "The reaction from the Security Council should be conducive to maintaining peace and stability in the Korean Peninsula and Northeast Asia, and conducive to the six-party talks and also to the process of denuclearization in the Korean Peninsula, and it should be also conducive to safeguarding the international nonproliferation regime," he said. "That's why we had been consistent in the Security Council adopting a presidential statement instead of a resolution with new sanctions," he said. Zhang called on all the parties concerned to work together to maintain peace and stability in the region, promote the six-party talks and push forward denuclearization on the Korean Peninsula.
BEIJING, March 15 (Xinhua) -- China's advertisement sector generated 189.96 billion yuan (27.78 billion U.S. dollars) of revenue in 2008, up 9.11 percent over the previous year, China's State Administration for Industry and Commerce (SAIC) said Sunday. The revenue from TV commercials reached 50.15 billion yuan, an increase of 13.22 percent over the previous year. It accounted for26.4 percent of the total, the largest share of the market. Income from newspaper advertisements rose 6.36 percent from a year ago to 34.27 billion yuan in 2008. The number of foreign-funded advertisement companies in China soared 27.73 percent from the previous year to 737 by the end of 2008, which accounted for 0.4 percent of the total advertisement firms across the country, according to the SAIC.
HAIKOU, April 5 (Xinhua) -- Traffic had been resumed on Sunday on the highway that had been flooded by collapse of a small reservoir on March 27, in south China's Hainan Province, local authorities said. The Wanning section of the province's eastern expressway had been resumed in both directions at 8:00 p.m. after nine days of reconstruction work, said an official with the provincial Communication Department. The Bofeng reservoir, with a designed water storage capacity of1.02 million cubic meters, collapsed at about 10 p.m. in Xinglong Town, Wanning City. The ensuing floods washed out a slip road to the province's eastern expressway and swept away two cars, injuring three people in the vehicles. The water also inundated 20 hectares of farmland and caused slight damage to three riverside houses. The municipal water conservancy administration had claimed that only 100,000 cubic meters of water burst from the reservoir. However, Chen Xingzhang, secretary of the CPC municipal committee of Wanning, doubted its credibility. Vehicles had to detour around the flooded road over the past days. The reservoir was being reinforced at the time of the accident. An investigation showed that workers of a company in charge of the project exploded part of the cofferdam before the water dropped to the safety level, which led to the collapse. The scheme had no approval from authorities at the time. The construction contractor, Hongda Water Conservancy Projects Co, Ltd., based in Henan Province, and the project supervising company, Hainan Institute of Water Conservancy and Power Construction Survey and Design, were banned from carrying out further business in the city. Police have detained four project workers in connection with alleged safety violations that led to the collapse in the province, the local Communist Party of China (CPC) committee said Monday. Chen Ruchuan, former head of the water conservancy administration of Wanning City, and two deputy heads, were also sacked from their posts Monday, according to the Wanning municipal committee of the CPC. The local government has been working on a plan to compensate people affected in the accident.
BOAO, Hainan, April 18 (Xinhua) -- Chinese Premier Wen Jiabao met with former U.S. President George W. Bush and former Japanese Prime Minister Yasuo Fukuda here Saturday in south China's Hainan Province. Wen spoke highly of Bush's contribution to the development of Sino-U.S. constructive and cooperative ties. He hoped Bush would continue to play a positive role in promoting bilateral relations. Wen said that since President Obama took office, Sino-U.S. tieshave got to a good start. The two nations have dedicated to building a positive, cooperative and comprehensive relationship inthe 21st century. China's Premier Wen Jiabao (R) meets with former U.S. President George W. Bush, in Boao, south China's Hainan Province, April 18, 2009. Bush arrived here to attend the Boao Forum for Asia (BFA) Annual Conference 2009 held from April 17 to 19. The spreading global financial crisis and the growing global challenges demand the two nations increase mutual trust, enhance coordination, jointly overcome the current difficulties and benefit the two countries and people of the world, said Wen. "We hope the U.S. economy will take a favourable turn as soon as possible, which is conducive to the world economy," he added. Bush said it is uplifting to see the Sino-U.S. ties improving. Both China and the United States are major nations in the world and should keep close communication and cooperation. He said he would continue to contribute to the development of Sino-U.S. ties. The policies and measures that the Chinese government has takento cope with the financial crisis have already yielded results andare very impressive, said Bush. The continuous growth of economies of both countries are crucial to the recovery of the world economy, he said, stressing the two countries should strengthen cooperation in resisting the impact of the financial crisis. During the meeting with Fukuda, Wen appreciated the former Japanese Prime Minister's contribution to improving and developingChina-Japan friendly relations. Wen said China-Japan ties maintain sound in general. The two countries should proceed from the long-term perspective of bilateral ties, increase political mutual trust, deepen mutual understanding between the two peoples and safeguard the general interests of Sino-Japanese strategic reciprocal relations. He said the global financial crisis is not just a challenge forAsia, but also an important opportunity for speeding up regional cooperation. He also called on the two countries to proceed from the overallinterests of Asia and the long-term development of bilateral ties to enhance coordination and all-around cooperation, so as to jointly push forward regional economic and financial cooperation and make greater contribution to the revitalization of Asia and the construction of East Asia community. To continuously enhance the friendship between the two peoples is of great importance to the long-term development of bilateral ties, said Fukuda, adding that he would spare no effort to promotefriendly cooperation between the two nations in the future. Fukuda also said China plays a key role in withstanding the global financial crisis. Bush and Fukuda were here to attend the 2009 annual meeting of the Boao Forum for Asia (BFA) from April 17 to 19.