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BEIJING, Sept. 5 (Xinhua) -- The Communist Party of China (CPC) will launch a 1.5-year campaign from this month to learn and implement the Scientific Outlook on Development, the CPC Central Committee Political Bureau said here on Friday. The campaign aims to push Party members, especially leading Party members and government officials, to learn how to implement the Scientific Outlook on Development and carry it out effectively, a statement issued after a CPC Central Committee Political Bureau meeting said. The meeting was presided over by and CPC Central Committee General Secretary Hu Jintao, also Chinese president. As Hu explained in his keynote speech at the 17th CPC National Congress in October 2007, the guideline takes development as its essence. It puts people first as its core with comprehensive, balanced and sustainable development as its basic requirement. Overall consideration is its fundamental approach. "The Scientific Outlook on Development is an important guiding principle for China's economic and social development and a major strategic thought that we must uphold and apply in developing socialism with Chinese characteristics," said the statement. Through the campaign, the CPC expects its officials to change their way of administration that don't meet the requirements of scientific development and to find solutions for the problems that hold back its implementation and the issues people complain about most, the statement said. In the campaign, the CPC also aims to develop the administrative system that can boost scientific development and to improve the Party's ruling capability, it added. The CPC Central Committee Political Bureau asked all Party members to take part in the campaign, especially senior Party members and government heads at county level and above
KUNMING, April 2 (Xinhua) -- Chinese Premier Wen Jiabao has pledged that his government will extend further support to poor areas inhabited by ethnic minority people. "All ethnic groups form one big family. We must be united and help each other, to prosper and make progress together," Wen told a group of Jingpo nationality farmers during a visit to the Dehong Dai and Jingpo Autonomous Prefecture in Southwest China's Yunnan Province. Chinese Premier Wen Jiabao visits the DehongDai and Jingpo Autonomous Prefecture in southwest China's Yunnan Province from March 31 to April 1.Wen's trip to Yunnan from March 31 to April 1 took place after he attended the third Summit of the Greater Mekong Subregion held in Vientiane, the capital of Laos. Yunnan has the largest number of ethnic minority groups among all Chinese regions. Wen told farmers in Dai, Jingpo and De'ang villages that his new cabinet has decided to increase rural spending by 25 billion yuan (3.5 billion U.S. dollars). Government shall also increase subsidies for cereal growing and farming machines as well as the minimum state purchasing prices for rice and wheat, Wen said in a Dai village, greeting local farmers in Dai language. Chinese Premier Wen Jiabao visits the DehongDai and Jingpo Autonomous Prefecture in southwest China's Yunnan Province from March 31 to April 1.At the Santaishan Jingpo village, farmer Ding Kongdao told Wen that although he no longer worries about food and basic medical care, cash income is still hard to make being in such a remote mountainous village. The Premier said villagers should be relocated to places where life is easier and that small water conservation projects should be built to water crops. He also suggested that farmers should also grow cash crops such as coffee and banana in addition to rice and sugar cane. Local governments should also help them find jobs in cities. In a De'ang nationality village at the foot of a mountain, Premier Wen met Yao Lateng in his new house. When he learnt that Yao married a Han girl, Wen shook hands with the couple and said, "This is unity among ethnic groups." The village was relocated to a flat place near national highway302 from a nearby mountain five years ago, with special government funding to help ethnic minority groups. Wen urged local officials to make education their top priority, saying that education is the foundation for people to improve their life. Wen also hosted a small meeting attended by a dairy farmer, a school master and a countryside doctor, among others, to solicit their opinions of government work.
BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis. The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said. "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council. "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua. OUT OF SLOWDOWN CONCERNS The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market. The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25. Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint. Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua. Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October. China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters. Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses. Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating. The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February. "Inflation is no longer a threat with the declining commodities prices," Tang said. The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook." TAX CUT TO BOOST DEMAND In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday. China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007. The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences. The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said. GLOBAL COORDINATED RESPONSE The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said. Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis. The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent. Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions. Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.
Li Changchun (R), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with medical workers from Beijing Military Command at Yingxiu Town of Wenchuan County during his inspect to the quake-hit southwest China's Sichuan Province on June 3, 2008. (Xinhua Photo) CHENGDU, June 3 (Xinhua) -- Senior Chinese leader Li Changchun on Tuesday visited areas in southwest China's Sichuan province that were hardest hit by the May 12 earthquake, encouraging residents and relief workers on the front line. On Tuesday morning, Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, arrived at Yingxiu County by helicopter. He told survivors in Yuzixi village, "You've gone through considerable pain, but you remained strong in the face of disaster. Your spirit has touched all Chinese people. I hope you will soon go back to your normal lives and build a better home." At Dujiangyan Radio and Television Station, Li urged the technicians to repair the network as soon as possible to ensure that the people in the quake zone could enjoy radio and TV programs. Li Changchun, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with an injured quake victim at Huaxi Hospital in Chengdu during his inspect in southwest China's Sichuan Province, on June 3, 2008. (Xinhua Photo) In the afternoon, he visited patients and medical workers at Huaxi Hospital of Sichuan University, where he spoke words of encouragement to medical workers. Before leaving Chengdu, Li visited artists who came from Beijing to the quake zone for real-life inspirations. Li hoped they could go deep into the front line of the quake and represent the feelings of the victims, soldiers and other relief workers. "I believe you can create many artworks that will inspire the people affected by the earthquake," Li said. He was accompanied by Liu Yunshan, a member of the Political Bureau of the CPC Central Committee and director of the Publicity Department of the CPC Central Committee. The death toll in the earthquake that jolted Sichuan Province and some other areas on May 12 rose to 69,107 as of Tuesday noon.
BEIJING, Oct. 14 (Xinhua) -- The financial crisis and other major issues challenging the world will be discussed in the upcoming summit of the Asia-Europe Meeting (ASEM), according to Liu Jieyi, China's assistant foreign minister. "The ASEM summit would be convened under the special international circumstance," said Liu at a press conference here on Tuesday. He added the financial situation was in turbulence and the three major challenges, including food safety, climate change and energy issues, were interwoven. Under the theme of dialogue, cooperation, mutual benefit and common prosperity, the summit would touch upon these issues. The seventh ASEM summit will be held in Beijing from Oct. 24 to25. At present, most foreign members had confirmed their attendance. Liu said all members would focus on disaster-relief cooperation, the promotion of trade and investment, sustainable development and strengthening dialogue. Chinese President Hu Jintao will attend the meeting and Premier Wen Jiabao will preside over the meetings and a welcoming banquet. Leaders from four coordinators, including China, the EU commission, Brunei and France, would hold a joint press conference after the summit, Liu said, adding several bilateral meetings would also be held. "A chairman's statement is expected to be passed to reflect all members' stance on the major issues, outlining the key areas of cooperation in the future." Other documents will also be passed to improve the substantial cooperation on three major areas, including political, economic cooperation as well as social and cultural exchange. "This is another important event for China after the Beijing Olympic Games," Liu said. The 45-member ASEM, established in 1996, is a high-level forum between governments of Asia and Europe. It aims at creating better conditions for cooperation between the two continents through strengthening dialogue and mutual u