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BEIJING, Jan. 30 (Xinhua) -- China on Saturday decided to suspend scheduled visits between the Chinese and U.S. armed forces, in response to Washington's plan to sell a package of arms worth about 6.4 billion U.S. dollars to Taiwan. "We made the decision out of considerations on the severe harm of the U.S. arms sales to Taiwan," said Defense Ministry spokesman Huang Xueping in a statement.The U.S. government on Friday announced the plans to sell a package of arms to Taiwan, which include Patriot missiles, Black Hawk helicopters and minesweepers. China immediately expressed strong indignation about the sale after the U.S. government notified the U.S. Congress of the plans.Qian Lihua, director of the Defense Ministry's Foreign Affairs Office, on Saturday summoned the defense attache of the U.S. Embassy in Beijing to lodge a stern protest."The Chinese military expresses grave indignation and strongly condemns such a move to grossly interfere into China's internal affairs and harm China's national security interests," Qian said in a press release of the office.Taiwan issue is related to China's sovereignty and territorial integrity, and concerns China's core interests."The U.S. arms sales to Taiwan gravely violates the three joint communiques between China and the United States, and seriously endangers China's national security and harms China's reunification course," Qian said.The U.S. such move also constitutes severe violation of the agreements reached by the top leaders of both sides on the China-U.S. relations in the new situation, he said.It runs counter to the principles of the joint statement issued during U.S. President Barack Obama's visit to China in November last year, said Qian.The U.S. plan will definitely bring about serious negative impact on the relations between the two countries and militaries, and will to the end severely undermine the interests of the United States itself, he noted.The United States have reiterated in many occasions that it will adhere to the one-China policy, abide by the three joint communiques and support the peaceful development of relations across the Taiwan Straits."However, the United States now takes faithless action to sell arms to Taiwan again," Qian said such plans severely poison the political foundation of the relations between the two militaries, and produce grave obstacles to military exchanges between the two sides.Qian urged the United States to respect China's core interests and concerns, take practical actions to abide by its solemn commitments on Taiwan issue, withdraw its arms sales items to Taiwan, and stop military links with Taiwan, in order not to create further damage to the relations between the two countries and the two militaries and to the peace and stability across the Taiwan Straits."We reserve the right of taking further actions," he noted.According to Huang, the spokesman, "such a move is gravely against especially the 'Aug. 17' communique signed in 1982."The U.S. side states in the Communique that "it does not seek to carry out a long-term policy of arms sales to Taiwan" and "intends to reduce gradually its sales of arms to Taiwan, leading over a period of time to a final resolution.""We will never give in or compromise in this issue," the statement quoted Huang as saying, noting that the Chinese military will firmly fight against any move to destroy China's national sovereignty security and territorial integrity.
BEIJING, March 9 (Xinhua) -- China would step up work to monitor non-banking financing, said the China Banking Regulatory Commission (CBRC) Tuesday in a statement on its web-site.More focus would be put on businesses in connection with trust companies and the real estate sector to prevent banks from using non-banking financing to circumvent policies, said Liu Mingkang, chairman of the CBRC.The 2010 government loan target is 7.5 trillion yuan (1.10 trillion U.S. dollars). But in January alone, banks extended 1.39 trillion yuan in new loans -- 18.53 percent of the full-year target.More work should be done to improve risk management capacity to achieve sustainable development of the non-banking financing sector, Liu said.Non-banking financial institutions under the CBRC supervision include trust companies, finance companies, financial leasing companies, auto financing companies and money brokers.

LONDON, March 14 (Xinhua) -- China's efforts of switching economic growth pattern would help to make an overall more stable world economy, said John Hawksworth, head of macroeconomics of PriceWaterhouseCoopers (PWC), one of the world's four largest accounting firms.He told Xinhua in a recent interview that this would also ultimately be good for China in the long term. There will be a reduction in the global trade imbalances in the long run with China's efforts of shifting economic growth pattern.China's adjustment important for world economyHawksworth said that China plays its part in making these adjustments, which is important for the long-term stability of the world economy. That is because China is a very important player, the world's biggest economy after the United State.Meanwhile, he emphasized that other economies should also make adjustments and play their parts for the world economy.He said that the United States need to control its high level of government borrowing. The same applies to European countries with high levels of borrowing."So all the main economies need to adjust and China is an very important element in the overall adjustment process," said Hawksworth.He was optimistic about the prospects for China in the efforts of shifting its economic growth pattern."It will remain a very strong growing economy and I'm optimistic that it will meet challenges and will continue to increase its relative importance in the world economy over the next 10 or 20 years," he said.Long-term process for China to shift economic growth patternWith regards to the main reasons for China to shift its economic growth pattern, Hawksworth said that in the long run China wants to promote consumer spending as a big driver of growth.China has been quite reliant on exports and investment in the past, he said. "Ultimately as China becomes a bigger part of the world economy, it can't continue to grow exports as fast as before. Also opportunities for more and more investment will be increasing. ""In the long run, you'll be better if more of China's growth would be dependent on consumer spending," he said.However, he said that China can not suddenly switch to consumer spending. "It has to be a long-term process and would also depend on other types of policies."For example, he said providing better healthcare provision at the moment is quite important because Chinese households are concerned about their future health care and therefore don't like to spend money.He also said that it might be encouraged by gradual move towards an increase in the Chinese exchange rate which would tend to reduce the price of imports and therefore boost consumption and boost the household spending power."It is a combination of policies which can't be done overnight, there has to be a long-term process over 10 years or more to gradually take effect," said Hawksworth.Short- and long-term challenges for ChinaAt the same time, Hawksworth said China is facing some short- and long-term challenges in the process of shifting its economic growth pattern.As for the short-term challenges, he said that China has obviously put a lot of emphasis on government spending and investment to stimulate the economy during the global financial crisis."Although that has been quite successful, it may also have led to some dangers of an overheating with increases in property prices and asset prices," he warned.He said that is a short-term problem which really requires a gradual tightening of monetary policy. Some restrictions on bank lending are also needed to avoid this asset price bubble getting out of control.In his view, the long-term challenge is about moving towards an economy that is more driven by household spending."This is partly about encouraging households to feel more confident about the future, about providing better healthcare from the state or better pensions to the households," he said.
BEIJING, Jan. 28 (Xinhua) -- A draft regulation on expropriation of houses and relevant compensation is expected to be made public Friday to solicit comments.China's Legislative Affairs Office of the State Council, or cabinet, is going to release the full text of the draft on its website, www.chinalaw.gov.cn.The draft spells out the conditions, due process and compensation of expropriation intended for public interest, such as national defense, key national projects of energy, transportation and education.The draft says local government should, by holding hearings or adopting other opinion soliciting methods, ensure that the public opinions can be heard.The draft also provides that compensation to the house owners should not be less than the market price of similar houses.The draft stresses that no violence, coercion, or other illegal means, such as cutting off the water or power supply of the houses, can be employed in demolition procedures.Demolition for the need to upgrade the quality of dangerous and old buildings should not be carried out without the approval of 90 percent of the house owners, the draft says.The public is invited to comment on the draft regulation any time before Feb. 12 via online postings, email or letters.
WASHINGTON, March 24 (Xinhua) -- China and U.S. economic and trade frictions should be handled appropriately to advance the healthy and steady development of the bilateral economic and trade ties, a senior Chinese trade official said on Wednesday."For the moment, the biggest challenge facing the China-U.S. economic and trade relationship is trade protectionism and the politicizing of our economic and trade issues," Chinese Vice Commerce Minister Zhong Shan told reporters at Embassy of China in Washington. "We hope that China and the U.S. can treat each other as partners instead of rivals."Zhong said China is against the tendency to politicize bilateral economic and trade issues.Under the pressure of the election year and high unemployment rate, some U.S. senators last week proposed a legislation to press China to appreciate its currency.The bill requires the U.S. Treasury Department to identify countries with "fundamentally misaligned currencies" and asks the Commerce Department to investigate currency undervaluation as a " countervailable subsidy."Meanwhile, 130 U.S. congressmen wrote to the government, demanding the Obama administration take actions to appreciate the RMB against the dollar."The RMB exchange rate is not the root cause for U.S. trade deficit with China or key to U.S. unemployment," Zhong said.He said that the economic structures of the two countries are highly complementary. To force an appreciation in the RMB cannot resolve U.S. deficit or unemployment.Zhong noted that given the large scale, broad scope and rapid development of the China-U.S. bilateral economic and trade cooperation, frictions and problems are inevitable."As long as the two sides stick to a strategic and long-term approach to our economic and trade ties and appropriately handle trade frictions through communication and consultation, we can find common grounds and shelf differences and constantly further the bilateral economic and trade relations."
来源:资阳报