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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.
SHENZHEN, Feb. 7 (Xinhua) -- China started construction of the eastern segment of the country's second West-East natural gas pipeline in Shenzhen City, Guangdong Province on Saturday. Chinese Vice Premier Li Keqiang attended the kick-off ceremony announced the start of the construction. The pipeline, the second after the first West-East natural gas transfer project, will cross 15 regions and carry 30 billion cubic meters of natural gas every year to Zhejiang, Shanghai, Guangdong and Hong Kong, among others. When visiting the construction site, Li said the pipeline under construction is the country's most expensive energy project in decades and the world's longest natural gas pipeline. It is of great importance to ensuring China's energy security, coordinating regional economic development, deepening the ties between Hong Kong and inland provinces and promoting economic growth. The 8,704 km pipeline will be made up of one trunk line and eight sub-lines. Construction of the west segment of the pipeline was started in February 2008 and is expected to be completed by the end of the year. The whole line will be operational by the end of 2011. As China battles the financial crisis and expands its domestic demand, the second West-East gas pipeline project is a landmark project that will boost people's confidence to overcome the crisis, said an official with the National Development and Reform Commission. The total investment of the second West-East gas pipeline was 142.2 billion yuan (20.82 billion U.S. dollars). The eastern segment stretches 2,472 km, with an investment of 93 billion yuan. The government approved the east segment project during an executive meeting of the State Council or the Cabinet last November, in a hope to ease natural gas shortage, boost economic development and popularize utilization of clear energy. Zhou Dadi, a researcher with the Energy Research Institute of National Development and Reform Commission said the construction of the gas pipe is essential for China to increase gas resources and ensure energy security. It is hoped that construction will boost consumption and increase investment amid a world economic downturn, Zhou added. It is estimated that investment will top 300 billion yuan in other relevant industries, including machinery production, electric technology, and construction material sectors. Dong Xiucheng, professor with China University of Petroleum said this project will help China increase clean energy consumption. In China, coal makes up 70 percent of the total energy consumption, 40 percentage points higher than the world average. Natural gas consumption only accounts for three percent of the total. The completion of the second pipeline is expected to save 11.06million tonnes of coal every year. The first West-East gas pipeline was finished in 2004. It has provided 42 billion cubic meters of gas to 3,000 factories and nearly 200 million people over the past five years Wang Yang, secretary of the Guangdong Provincial Committee of the Communist Party of China, and Donald Tsang, chief executive of the Hong Kong Special Administrative Region, also attended Saturday's ceremony.

BEIJING, March 9 (Xinhua) -- China will not revise the Labor Contract Law to compromise workers' rights as suggested by some people to help enterprises cope with the global financial turmoil, a legislator said here Monday. "The labor contract law has nothing to do with the financial crisis and won't be revised for it," said Xin Chunying, deputy director of the Legislative Affairs Commission of the Standing Committee of the National People's Congress (NPC), China's legislative body. "China's labor relations are basically stable and orderly, and it can weather through the test of time," she told a press conference on the sidelines of NPC's annual session, when asked if the law will be changed because increased labor costs have led to rising cases of bankruptcy on the Pearl River Delta. Citing a survey that tracts figures in the first nine months of the 2008, she said the law has indeed driven up enterprises' labor costs by two percent, but it has also greatly curbed labor relations issues that have been afflicting workers as well as employers for years. Such chronical issues include the tendency of employers avoid signing long-term contracts with employees, the lack of proper protection of workers' rights, said Xin. The proportion of workers protected by a written labor contracts in "sizable enterprises" has witnessed a remarkable rise since the labor contract law took effect in January 2008, she said. "Sizable enterprises" is a statistical term in China that refers to all state enterprises or private firms with an annual turnover of two million yuan if they are manufacturers, or five million yuan if they are in trade. According to Xinhua, 93 percent of the workers in "sizable enterprises" have signed contracts with their employers, compared to less than 20 percent before the enaction of the new law. Li Shouzhen, a senior official with the All China Federation of Trade Unions, said at the same press conference that the federation is against the lifting of the minimum wage standard. The minimum wage standard was a major measure to safeguard workers' rights. "Abolishing the standard will hurt employee's initiative and confidence in tiding over difficulties with enterprises," he said. "Eying long-term development, the employers should strive to pool wisdom and strength of the employee and optimize company structure," he said. "Don't have your eyes on the employee's salary alone," he said. The minimum wage standard in the country varies from city to city, with the southern Shenzhen city reporting the highest standard of 1,000 yuan a month.
HORSHAM, Britain, March 15 (Xinhua) -- The G20 finance ministers and central bank governors meeting sent a positive signal that the international community is rising unitedly to the economic and financial challenges, Chinese Finance Minister Xie Xuren said here Saturday. As the financial crisis continues to spread and bites harder from one country to another, solidarity achieved at the meeting will help boost market confidence and stabilize economic and financial conditions, Xie told Chinese reporters shortly after the meeting. Xie said the meeting provided a platform for economic leaders to have in-depth discussions on enhancing exchanges and coordination on policy issues. He said participants agreed to continue to adopt effective policies and measures and strengthen coordination on macroeconomic policy to restore market confidence as soon as possible. They also reached consensus on further deepening trade and economic cooperation and fight trade and investment protectionism, Xie said. Participants unanimously agreed to promote international trade with an open mind and pay close attention to the difficulties of the developing countries, especially the least developed countries, the minister added. Participants also agreed to strengthen financial supervision, enhance transparency and accelerate the reform of international financial institutions to ensure that the developing countries will have greater representation and bigger say, he said. Xie said China took an active part in the discussions on all issues at the meeting and extensive exchanges and consultations with various parties on the effective ways to deal with the global financial crisis and promote global economic revival and growth. China calls on countries around the world to strengthen policy coordination and step up the fight against protectionism to better cope with the crisis, he said. Xie said the meeting had made some necessary preparation for the upcoming G20 financial summit in London, and created a favorable atmosphere for a successful London summit.
ISTANBUL, Turkey, March 21 (Xinhua) -- The World Water Council (WWC) is ready for China's membership, WWC President Loic Fauchon said here Saturday evening. During his meeting with Chinese Minister of Water Resources Chen Lei on the sideline of the 5th World Water Forum, Fauchon said he welcomes China to "the WWC family," and "we are ready to sign the agreement" which just need a few days to finalize the details of the pact. "We need your experience and your tradition, It will be a nice relation," he added. Chen said China is willing to participate WWC activities and China will shoulder the obligation and responsibility when it becomes a member. Chen invited the president to visit Beijing. Fauchon said he is glad to visit the Chinese capital in May or June, when the both sides are expected to ink the pact. WWC, created by a number of key water institutions in 1996, unites over 300 member organizations from more than 60 countries. It is an international multi-stakeholder platform "to promote awareness, build political commitment and trigger action on critical water issues at all levels."
来源:资阳报