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BEIJING, June 3 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday raised a four-point proposal to boost collaboration with Malaysia so as to jointly tackle the global financial crisis. China and Malaysia should insist on the Five Principles of Peaceful Co-existence, take each other's concern into consideration and achieve common development, Wen said to visiting Malaysian Prime Minister Najib Tun Razak during their meeting at the Great Hall of the People. Wen raised a four-point proposal for further cooperation between the two countries, which included promoting trade diversification, enhancing mutual investment, deepening financial cooperation and safeguarding financial stability, and strengthening coordination on regional affairs. Visiting Malaysian Prime Minister Najib Tun Razak (front, L) receives a special gift, a photo of his late father and China's late Premier Zhou Enlai when the two established diplomatic ties between China and Malaysia in 1974, from Chinese Premier Wen Jiabao (front, R), in Beijing, capital of China, June 3, 2009. Malaysia has become China's largest trade partner among members of the Association of Southeast Asian Nations (ASEAN). Trade between the two countries reached 39.06 billion U.S. dollars in 2008, up 10.3 percent year on year. This year marks the 35th anniversary of the establishment of diplomatic relations between China and Malaysia. Wen said that China is ready to work with Malaysia to take this opportunity to promote their relations. Malaysia was the first ASEAN member country to forge diplomatic relations with China 35 years ago under then Prime Minister Tun Abdul Razak, Najib's late father. Najib said it is his honor of choose China as the first non-ASEAN destination since he took office in April. "This shows that Malaysia attaches great importance to the development of Malaysia-China relations." Najib noted that his visit is aimed at further accelerating the development of the bilateral ties and strengthening cooperation. Najib said he agree with Wen's proposal on advancing Malaysia-China relations, saying Malaysia, on the basis of reciprocity and mutual benefit, is ready to enhance cooperation with China in the fields of economy, finance, resources, energy and infrastructure construction. After the meeting, the two leaders witnessed the signing of bilateral agreements on cooperation. Najib received a special gift from the Chinese side: a photo of his late father and Chinese Premier Zhou Enlai when the two established diplomatic ties between China and Malaysia in 1974. Najib received an honorary doctorate in international relations from the Beijing Foreign Studies University at the opening ceremony of an international seminar on the dialogue between Chinese and Malaysian civilizations here Wednesday.
ROME, May 21 (Xinhua) -- China's top legislator Wu Bangguo met with Italian President Giorgio Napolitano here on Thursday afternoon, and the two leaders exchanged views on how to address the current global financial crisis. Wu, chairman of the Standing Committee of the National People's Congress (NPC), the top Chinese legislature, said China is positive about the results of the London G20 summit and appreciates the efficient efforts that Italy has made in preparation for the dialogue meeting between the leaders of G20 countries and five major developing countries (8+5 dialogue). Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress of China, talks with Italian President Giorgio Napolitano in Rome, May 21, 2009. Wu emphasized that against the background that the financial crisis continues to spread in the world, the international community should strengthen cooperation by implementing the consensus of the G20 summit, curbing the slide of economy and opposing protectionism. In the meantime, the international community should push forward reform of the international financial system and establish a new order of world economy. Napolitano agreed with Wu's comment, saying that the global impact of financial crisis proved the increasingly close links among different economies. He said global challenges call for a globalized resolution. Italy is ready to strengthen cooperation with China and other developing countries at the 8+5 dialogue. Napolitano stressed that Italy will join hands with China to firmly oppose trade protectionism and address the international financial crisis. On China-EU relations, Wu said a strong Europe and a developing China share broad common interest and can contribute to world peace and development. He said China supports the integration process of the European Union, adding that the EU should play an active role in regional and international affairs. Wu said China places great importance on developing relations with the EU. He expressed the wish to deepen practical cooperation in all fields and expand trade and investment. He said the two sides should carry out dialogues and communication on major issues on the basis of mutual respect of sovereignty and non-interference in each other's internal affairs. Napolitano said as an important member of the EU, Italy is ready to play a constructive role in the regional bloc and help push for a healthy, stable development of EU-China relations. Napolitano said China's development will not only benefit the Chinese people, but also contribute to peace and development of the world. Wu said that China is still a developing country, with its per capita GDP ranking below 100th place in the world. He said China will continue to focus on development by working on economic restructuring and industry upgrading. China has adopted composite measures to address both current difficulties and long-term need so as to achieve all-round, balanced and sustainable development. Wu is on an official goodwill visit to Italy.

SINGAPORE, April 25 (Xinhua) -- Singapore's Minister Mentor Lee Kuan Yew met with visiting Chinese State Councilor Liu Yandong here on Saturday. During the meeting, Liu said that China-Singapore relations have developed rapidly, and cooperations in various fields between the two countries have made great achievements. She said that the friendly and mutually beneficial cooperations between the two countries have shown great foresight and have been advancing with times. "The Suzhou Industrial Park has set a successful example for economic and technological cooperations between China and foreign countries. The Tianjin Eco-City, construction of which started last year, unveiled a new chapter for bilateral cooperations in sustainable development and environmental protection fields. The bilateral trade and economy relations have entered a new stage with the China-Singapore Free Trade Agreement coming into effect this year," Liu said. Liu noted that the all-round development of the China-Singapore relationship is conducive to the two peoples and promoting prosperity and stability in the region. "Minister Mentor Lee Kuan Yew, who is a key founder of the China-Singapore relationship, has devoted enduring effort for the friendship between the two countries." Liu said. China highly values its ties with Singapore, and is willing to push bilateral cooperations in all fields and of various levels into a new stage, Liu added. Lee Kuan Yew said that the strengthening of cooperation between the two countries is beneficial to both countries and their peoples. Singapore hopes that China will continue to prosper and develop, Lee said, adding that Singapore will join hands with China to boost bilateral relations. Liu also met on Saturday with officials of the Chinese Embassy in Singapore, and representatives of Chinese students and scholars in the city state. Liu started the three-day official visit to Singapore on Thursday at the invitation of the Singapore government. During her stay here, Liu also met with Singapore's Prime Minister Lee Hsien Loong and witnessed the signing of a revised government-to-government Memorandum of Understanding (MOU) on education cooperation between China and Singapore.
HAIKOU, April 20 (Xinhua) -- Premier Wen Jiabao said that the infrastructure in south China's Hainan Province should be improved to make tourism a pillar of the island's economy. Wen made the remarks during a weekend visit. Developing tourism amid the global downturn would do much to boost economic growth and employment and expand domestic consumption, he said. Chinese Premier Wen Jiabao (Front, R) holds a baby's hand during a visit to Benli village in Haikou, south China's Hainan Province April 19, 2009. Wen was on an inspection tour on the island province from April 18 to 19 More effort should be made to improve tourism services, build scenic sites and attract more domestic and foreign tourists. He said the tropical province should accelerate development of modern service industry and high-efficient tropical agriculture. Chinese Premier Wen Jiabao (Front, C) talks with workers on a farm in Chengmai county, south China's Hainan Province, April 19, 2009. Wen was on an inspection tour on the island province from April 18 to 19Wen also encouraged local enterprises to tap into the overseas market while expanding domestically. Hainan became a province in 1988 and later was designated a special economic zone. Last year, the island hosted 18.4 million tourists, reaping 17.1 billion yuan (2.5 billion U.S. dollars).
BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery. China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website. The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth. The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan. The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said. Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months. The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment. The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge. The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans. There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month. The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures. China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year. The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects. In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports. The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said. The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn. But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth. "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said. The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks. It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies. The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero. The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank. It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered. "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said. The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report. The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase. PBoC said the policy would leave the bond markets subject to fluctuations. It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.
来源:资阳报