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BEIJING, Aug. 9 (Xinhua) -- Chinese President Hu Jintao on Saturday met separately with several foreign leaders in the Great Hall of the People in central Beijing. The foreign leaders included President of the Republic of Korea (ROK) Lee Myung bak, President of the Philippines Gloria Macapagal Arroyo, Mongolian President Nambaryn Enkhbayar, Uzbek President Islam Karimov, and Australian Prime Minister Kevin Rudd. The leaders all attended the opening ceremony of the Beijing Olympic Games, held in the National Stadium in north Beijing on Friday night. Chinese President Hu Jintao (R) shakes hands with President of the Republic of Korea (ROK) Lee Myung bak during their meeting in Beijing, China, Aug. 9, 2008. Lee Myung bak attended the opening ceremony of the Beijing Olympic Games on Friday night. In his meeting with the ROK president, Hu called for more efforts from all parties involved to advance the six-party talks to a new stage. "We hope all parties of the six-party talks enhance communication and coordination, try to implement the second phase action of the talks soon in a comprehensive and balanced way, and advance the talks to a new stage," said Hu. He reaffirmed China's consistent support for the reconciliation and cooperation between the north and south of the Korean Peninsula. The ROK president responded that the six-party talks are progressing on the right track, and the ROK will strive to promote the development of south-north relations in the right direction. On the China-ROK relationship, President Hu said the relationship is heading in the right direction, and he is looking forward to his forthcoming state visit to the ROK. Lee said the ROK government and people are pleased with the establishment and development of the strategic partnership with China and are looking forward to Hu's visit. Chinese President Hu Jintao (R) shakes hands with President of the Philippines Gloria Macapagal Arroyo during their meeting in Beijing, China, Aug. 9, 2008. Gloria Macapagal Arroyo attended the opening ceremony of the Beijing Olympic Games on Friday night. Meeting with President Arroyo, Hu said that trade and economic cooperation between China and the Philippines in recent years has maintained rapid development and brought concrete benefits to the two peoples. "We hope China and the Philippines forge ahead with the existing trade and economic cooperation projects, and explore new fields of cooperation at the same time," Hu said. Hu also thanked Arroyo for her invitation of 100 Chinese children from the quake-battered areas to visit the Philippines for rehabilitation. Reiterating the Philippines' adherence to the one-China policy, Arroyo said that her country looks forward to deepening and expanding cooperation with China in various fields. Chinese President Hu Jintao (R) shakes hands with Mongolian President Nambaryn Enkhbayar during their meeting in Beijing, China, Aug. 9, 2008. Nambaryn Enkhbayar attended the opening ceremony of the Beijing Olympic Games on Friday night.In the meeting with his Mongolian counterpart, Hu said that China and Mongolia are on a smooth track of developing their relations, and the two countries have broad potentials and bright prospects in friendly cooperation. He said that the two countries will celebrate the 60th anniversary of the establishment of their diplomatic ties next year, and hoped that the two sides could hold various activities to enhance friendship and bolster exchanges.
HARBIN, July 24 (Xinhua) -- A senior Chinese official has called for carrying on ideological emancipation, persisting in the reform and opening-up policy, pushing forward scientific development and making new breakthroughs in promoting social harmony, to promote rapid and sound economic and social development. Li Changchun, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during an inspection tour in Heilongjiang Province from July 20-23, in the company of the provincial CPC chief Ji Bingxuan and governor Li Zhanshu. Li Changchun (L1), a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, talks to staff at Donghu community during an inspection tour in Heilongjiang Province July 22, 2008He urged the northeastern province to seize the opportunity for industrial revival. Li visited villages, communities, factories and cultural organizations in the cities of Mohe, Heihe, Daqing and Harbin. In Mohe, the country's northeasternmost town, the official paid a visit to the Beiji (Polar) Village, where he learned that local villagers now have cable TV. He also visited Daqing, China's largest oil production base and Harbin, the provincial capital. Local governments should build more public cultural facilities, he said. He urged the province to deepen its cultural restructuring, support multi-talented professionals and develop cultural products with brand names that were recognized at home and abroad. In Daqing, Li also visited the memorial to Iron Man Wang Jinxi, an oil worker who devoted his life to the development of the petroleum industry. Daqing, a city built on the vast oil field, is known for the "Daqing Red Flag", a model set for all industries in the country by late leader Mao Zedong.
BEIJING, May 13 (Xinhua) -- The death toll from a major earthquake in southwest China's Sichuan Province has climbed to 9,219, the Ministry of Civil Affairs said here Tuesday morning. The 7.8-magnitude quake has killed 9,219 people in eight affected provinces and municipality of Sichuan, Gansu, Shaanxi, Yunnan, Shanxi, Guizhou, Hubei and Chongqing, the ministry said in a release issued at 7 a.m.. Rescuers work in Dujiangyan city of southwest China's Sichuan Province, on May 13, 2008. A major eathquake measuring 7.8 on Richter scale jolted Wenchuan County of Sichuan Province at 2:28 p.m. on Monday.Of the killed, 8,993 were in Sichuan, 132 in Gansu, 85 in Shaanxi, eight in Chongqing and one in Yunnan, the ministry said. The quake jolted Wenchuan County of Sichuan at 2:28 p.m. Monday, which also leveled some 500,000 rooms in the affected areas. To cope with the catastrophe, the State Disaster Relief Commission and the Civil Affairs Ministry immediately initiated a "Level II emergency response plan" on Monday afternoon, and upgraded it to level I in the evening, the ministry said. According to China's regulations, natural disasters in the country are classified into four categories based on their severity. The Level I emergency plan covers the most serious class of natural disasters. A disaster relief work group of the State Council, China's Cabinet, rushed to the quake-hit county of Wenchuan on Monday evening to coordinate the rescue and relief work. Meanwhile, the ministry said strong winds and hailstorms lashed Hubei, Hebei and Jiangsu provinces from Sunday evening to early Monday morning, affecting more than 630,000 people. In central China's Hubei Province, the hailstorms attacked 10 counties, affecting 515,000 people, collapsing 85 rooms of 33 households and damaging another 4,761 rooms as of 11 a.m. Monday. The direct economic loss was estimated at 385 million yuan (55 million U.S. dollars). Hailstorms also lashed three counties of north China's Hebei Province on Sunday, affecting 92,100 locals and resulting in a direct economic loss of 7.65 million yuan. In east China's Jiangsu Province, 24,000 people also suffered from strong winds and hails Sunday evening. Four rooms were leveled and 60 others damaged with a direct economic loss of 1.46 million yuan. People try to find their property among the debris of collapsed buildings in Dujiangyan, in southwest China's Sichuan Province, on May 12, 2008
BEIJING, July 12 (Xinhua) -- The Chinese government will modify its temporary subsidy plan for quake survivors starting in September, with each survivor experiencing financial hardship to get 200 yuan (29 U.S. dollars) per month, a State Council statement said on Saturday. "Life in most parts of the area will return to normal by September but, in some worst-hit areas, some people might still suffer difficulties. To help them, the government decided to continue financial assistance after the present policy ends," said the statement issued after a cabinet meeting presided over by Premier Wen Jiabao. Chinese Premier Wen Jiabao (C) presides over the 23rd meeting of the quake relief headquarters of China's State Council in Beijing, capital of China, July 12, 2008. The quake, on May 12, left millions of people homeless and destitute. The policy will cover such categories as orphans, the elderly and the disabled without family support, those whose relatives were killed or severely injured, those who were displaced and those whose residences were destroyed, it said. Since the disaster, every needy survivor has been eligible to receive 10 yuan and 500 grams of food a day. The policy has covered about 8.82 million people but will end in August. The new system won't include any food allotment. Some types of survivors could receive more than the minimum. Under the present policy, about 261,000 orphans, elderly and disabled without family support have received 600 yuan a month. Under the new policy, they will receive more than 200 yuan, the statement said, without elaborating. The new policy will expire in November, the statement said. Chinese Premier Wen Jiabao speaks at the 23rd meeting of the quake relief headquarters of China's State Council in Beijing, capital of China, July 12, 2008 The meeting heard a report by an experts' committee on the Wenchuan County-centered quake and ordered it to keep monitoring aftershocks in the quake zone for another two months. The panel was also told to forecast areas that might be affected by major secondary disasters and evaluate possible losses to help reconstruction. The experts were also told to locate sites where quake debris can be stored for long periods for later investigation and take measures to protect such sites. The meeting endorsed an assessment report by central and provincial authorities, which listed 10 counties and cities, including Wenchuan County, Beichuan County and Dujiangyan City, as the worst-hit areas. Another 41 counties, cities and districts were characterized as heavily affected and other 186 were said to be moderately affected. The first two categories will be covered by the national reconstruction plan, it said. The 8.0-magnitude quake has claimed nearly 70,000 lives, injured more than 374,000 people and left another 18,340 missing.
BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday. Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent. "Currently the impact on domestic financial institutions is still limited," he said. The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars). The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year. However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars. "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report. Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner." Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis. China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18. The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001. Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market. However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence. Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt. From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics. In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation. Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation. Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas. Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.