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BEIJING, Dec. 18 (Xinhua) -- China held a meeting on Thursday morning to celebrate the 30th anniversary of its reform and opening-up drive, which turned the once poverty-stricken country into one of the world's largest economies.    Top leaders, including President Hu Jintao, attended the ceremony, which started at the Great Hall of the People in downtown Beijing at 10:00 a.m. China held a meeting on Thursday morning to celebrate the 30th anniversary of its reform and opening-up drive, which turned the once poverty-stricken country into one of the world's largest economies    The celebration also drew nearly 6,000 Chinese from all walks of life.     In a speech at the ceremony, Hu said 30 years to the day witnessed the opening of the 3rd Plenary Session of the 11th Communist Party of China (CPC) Central Committee.     That meeting ushered in a new historic period of reform and opening-up, marking the most significant turning point in the Party's history since the New China was founded in 1949, he said.     By gathering here today to commemorate the 30th anniversary of that meeting, Hu said they are meant to fully recognize the significance and great achievements of the reforms, sum up experience, and continue to develop the country on the path of socialism with Chinese characteristics.     Hu said China's gross domestic product (GDP) kept growing at an annual rate of 9.8 per cent for three decades, more than three times the world average. China held a meeting on Thursday morning to celebrate the 30th anniversary of its reform and opening-up drive, which turned the once poverty-stricken country into one of the world's largest economies    The President said China's GDP had soared from more than 360 billion yuan (about 52 billion U.S. dollars) in 1978 to 24950 billion yuan in 2007, making China become the world's fourth largest economy.     The past 30 years have been a period in which China's overall national strength has risen by a big margin, and the Chinese people have received more tangible benefits than ever before, he said.     The country has carried out extensive international exchanges and cooperation, through which China's economy was boosted, he said, adding in the process, China has also made important contribution to the world's economic development.     China's economic reforms started 30 years ago after the 10-yearCultural Revolution (1966-1976), which left the country on the verge of economic breakdown.     The decision to open up the once-secluded country and reform its moribund economy was made at the 3rd plenary session of the 11th Central Committee of the Communist Party of China, which started on Dec. 18, 1978.     The date is commonly regarded as a watershed in China's development.

BEIJING, Nov. 28 (Xinhua) -- Chinese President Hu Jintao said Friday the top priority of the country's 2009 agenda on economic development is to maintain a "stable and relatively fast growth", amid the grim global economic downturn.     "We will ensure a quality and fast growth of the national economy next year," Hu said while sitting down with personages outside the ruling Communist Party of China (CPC) to seek their advice on the country's economic development.     He said the country would pursue an "all-rounded and sustainable" growth that stresses both quality and efficiency.     The world's fastest growing economy saw its growth slow sharply to nine percent year on year in the third quarter, the slowest pace in five years, as a result of slower export and investment growth.     The president said the country would continue to practice "active" fiscal and "moderately loose" monetary policies next year, and would in the meantime strengthen and improve macro controls according to changing conditions.     Such proactive policies is a transition made earlier this month against adverse global economic conditions from the earlier "prudent" fiscal and "tight" monetary policies aimed at curbing inflation and averting overheating.     He stressed the importance of boosting domestic demands, saying the country would bring consumption to play a bigger role in driving the economic growth, and the expansion of consumer spending would receive more prominent emphasis.     China would also increase its investment in rural areas, agriculture, and farmers "by a large extent" to guarantee the development of the agricultural sector and ensure the output of grain and other farm produce, according to the president.     Hu said the country would continue to promote economic restructuring. China has been working to reduce its heavy reliance on exports and investment over the past years.     "The country needs to take the challenges of the ongoing global financial crisis as opportunities to accelerate industrial restructuring to create new growth and foster other competitive edges," he said.     China would continue with its reform and opening up, Hu said. "The country will lose no chance to introduce reforms that can promote the development at the right time, and will take note of bringing the market into full play in allocating resources."     The country would actively develop the export-oriented sector and step up the diversification of exporting markets, Hu added.     He also said the country would stick to improving people's living conditions and building a stable society. The country would adopt "more active" employment polices next year, Hu said.     He pledged to improve urban and rural social security systems and vowed intensified efforts in supervision and inspection of food, drug and work safety.     "The country has great potential in economic development and has also accumulated strong capabilities to withstand risks over the past 30 years of reform and opening up," Hu told the non-Communist people.     The non-CPC personages said they endorsed the CPC and government's judgment on current situation as well as plans on next year's economic development. They also offered suggestions on economic issues such as the fight against the financial turmoil, and macro control measures.

BEIJING, Nov. 2 (Xinhua) -- China's gross domestic product (GDP) growth is expected to slow to 9.4 percent in 2008 from last year's 11.4 percent as the shrinking exports will cool the world's fourth largest economy, according to a Chinese credit rating agency report on Sunday.     The fundamentals of the economy are sound, but falling export orders would take a toll on the national economy in the short term, and domestic consumption needed time to play a bigger role, said the report released by the China Chengxin International Credit Rating Co. (CCXI), a joint venture of China's first rating agency China Chengxin Credit Management Co. Ltd. and U.S.-based Moody's Corporation.     The changing external economic environment and the burst of domestic asset bubbles would exacerbate the slowing economy, said the report.     The proactive fiscal policy was key to preventing the economy from falling and there was room for further cuts in bank reserve requirement ratios and interest rates.     It predicted the economy would gain 8.6 percent in 2009, but it gave no explanation of its forecast.     China's economy grew at 9 percent in the third quarter, the slowest in five years, as the global financial crisis sapped demand for Chinese goods, and domestic industrial production waned in response to weak demand and rising raw material costs.     The government has lowered interest rates three times in the last two months, increased export rebates and cut property transaction taxes to boost domestic consumption.     The report said the world financial crisis would have limited direct impact on the domestic banking system, but it warned Chinese exporters of default risks of foreign buyers.     Insurers and securities companies would be affected as the domestic capital market was growing more connected to the international market.     In September, the Manila-based Asian Development Bank, projected China's GDP growth to fall to 10 percent this year and further ease to 9.5 percent in 2009.     The slow-down was a result of the combined effects of a reduced trade surplus, slower growth in investment, and the global economic downturn, the Asian Development Outlook 2008 Update has said.

BEIJING, Jan. 25 (Xinhua) -- Many Chinese received a smaller bonus this year because of the global financial crisis and decided to tighten their belts - but they still let their hair down for the traditional Spring Festival.     The freezing weather and slowdown in economic growth did not affect Chinese people's festivities, with supermarkets and shopping malls crowded with shoppers seeking goods for the Spring Festival celebration.     Even dairy products, which have experienced shrinking sales because of the melamine scandal, were selling.     Milk powder products of domestic brands have reappeared on the shelves, a Xinhua reporter found in Wal-Mart at Xuanwumen, Beijing.     "This is the safest period for dairy products as the government has intensified quality supervision and inspection after the scandal," said saleswoman Qiao Xinhong.     Many Chinese people like to buy boxed milk or yogurt for family reunions or as gifts to friends and relatives during the holiday.     Dairy products, however, were only one part of people's shopping list, and snacks with wider varieties, clothes, jewellery and home appliances were also popular.     The week-long Spring Festival holiday, which starts from Sunday, is China's closest equivalent to the West's Christmas shopping season.     According to the Ministry of Commerce, sales at the country's major retailers on Thursday were 2.4 times as much as that on December 31.     China's real retail sales growth in December accelerated 0.8 percentage points from November to 17.4 percent, according to figures released by the National Bureau of Statistics (NBS) Thursday.     Retail sales jumped by 21.6 percent last year to 10.8 trillion yuan (1.6 trillion U.S. dollars), which was 4.8 percentage points higher than 2007.     The booming Chinese market has become more attractive to foreign retail giants, who have suffered from weak demand caused by the global financial crisis.     "Although the global financial crisis has weighed on China's economy, the fundamental of the country's economy remains unchanged and we are very optimistic about the prospects for the Chinese market," Britain's largest retailer Tesco told Xinhua in an email.     Sales in the rural market, which is believed to have the great potential to boost domestic demand, has reported month-on-month increases since May. November retail sales in rural areas rose 18.3 percent, 8.2 percentage points higher compared with the same period of 2007 and for the first time surpassed urban consumption growth.     Wei Wanqian, a farmer in eastern China's Shandong Province, was busy with the last-minute preparations to celebrate the Spring Festival. He bought a new tractor earlier this month.     "Boosting domestic demand should be the government's major taskof economic work," said Zuo Xiaolei, senior analyst at the Beijing-based Galaxy Securities.     "Effective boosting measures along with the improvement of social security system will accelerate the consumption growth by two to three percentage points this year," Zuo said.     The State Council, or the Cabinet, has taken an array of measures to enhance domestic consumption. These included improving the rural distribution network, promoting the subsidized home appliance program and boosting festival consumption.     More detailed measures would come out in March during the delivery of the government work report, sources said.     Although the impacts of global financial crisis were still unfolding, some positive signs surfaced in December economic date, officials and analysts have said. These included the figures on money supply, consumption and industrial output.     Whether the "positive changes" represented a trend was unclear, NBS director Ma Jiantang said.

LIMA, Nov. 19 (Xinhua) -- Visiting Chinese President Hu Jintao met his Peruvian counterpart Alan Garcia Wednesday in Lima for talks on how to deepen comprehensive cooperative partnership between China and the Latin American nation.     The meeting took place soon after the Chinese leader's arrival in the Peruvian capital from Havana.     In a written statement issued upon his arrival here, the Chinese president said he will exchange views with Garcia and other Peruvian leaders on ways to deepen bilateral ties.     Following their talks, the two leaders will attend a signing ceremony of documents on cooperation in trade, customs, quality control and poverty reduction.     Peru is one of China's major trading partners in Latin America,with two-way trade totaling 6 billion U.S. dollars in 2007, a 53 percent increase over the previous year.     While in Lima, Hu will attend the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum, which will focus on the world financial crisis, support for the Doha round oftrade talks, food and energy security, and regional economic integration.     The Chinese president will also meet with leaders of several APEC member economies on the sidelines of the APEC meeting.