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OTTAWA, June 22 (Xinhua) -- It is to the greater benefits of the peoples in both China and Canada should the two governments make concerted efforts to promote the healthy and stable development of bilateral relations and further enhance cooperation, visiting Chinese Foreign Minister Yang Jiechi said here Monday.     During his meeting with Noel A. Kinsella, Speaker of Canada's Senate, Yang spoke highly of the two country's past efforts in advancing relations since the establishment of diplomatic ties in 1970 and hoped more could be done to further enhance bilateral ties. Visiting Chinese Foreign Minister Yang Jiechi (L) shakes hands with Noel A. Kinsella, Speaker of Canada's Senate, at parliament hill in Ottawa, capital of Canada, June 22, 2009. Yang arrived in Ottawa on June 21 for a two-day official visit to the country. The successful meeting between Chinese President Hu Jintao and Canadian Prime Minister Stephen Harper in July 2008 on the sidelines of the outreach session of the Group of Eight (G8) summit added more vigor in the enhancement of Sino-Canadian relations, Yang added.     Yang said China and Canada, being important nations of the Asia-Pacific region, share broad interests as well as great potential of bilateral cooperation in every field. Both governments are therefore obliged to devote more efforts to furthering this friendly relationship so as to better tap on this potential for the interests of both peoples. Visiting Chinese Foreign Minister Yang Jiechi (2nd L) meets with Noel A. Kinsella (2nd R), Speaker of Canada's Senate, at parliament hill in Ottawa, capital of Canada, June 22, 2009. Yang arrived in Ottawa on June 21 for a two-day official visit to the country. China would work with Canada to handle bilateral relationship from a strategic height and long-term perspective, continuously strengthen bilateral dialogue and communications, respect each other's benefits and concerns and properly handle sensitive bilateral issues so as to guarantee a healthy and smooth development of ties in the future, Yang said.     Kinsella agreed with Yang's comments on bilateral relations and shared Yang's calling for stronger ties while reiterating his understanding and support for the "One-China policy."     He also pledged to advance the good relations between the legislatures of both countries, while stressing the importance of closer communications between young people of the two countries.     The speaker appreciated the constructive role that China has been playing in seeking diplomatic solution of regional conflicts and praised China for deploying navy forces to the waters off the Somali coast to fight the pirates.     Yang Jiechi arrived in Ottawa Sunday for a two-day official visit at the invitation of his Canadian counterpart Lawrence Cannon. 

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.

ROME, July 6 (Xinhua) -- Chinese President Hu Jintao held talks with Italian President Giorgio Napolitano on Monday, calling for a boost to ties between the two countries.     During the talks, Hu said Chinese-Italian relations have witnessed healthy and stable expansion over the past 39 years since the two countries established diplomatic relations. In 2004, the two countries agreed to establish an all-around strategic partnership, unveiling a new page for Chinese-Italian friendly cooperation, Hu said.     As next year will mark the 40th anniversary of the forging of bilateral diplomatic relations, China is willing to join hands with Italy to lift bilateral ties to a higher level, Hu said. Chinese President Hu Jintao (L) shakes hands with Italian President Giorgio Napolitano prior to their talks in Rome, capital of Italy, July 6, 2009.     According to a press release issued by the Chinese delegation, Napolitano agreed with Hu, saying cooperation between Italy and China has seen smooth expansion in a wide range of fields.     Napolitano said Italy is willing to further increase its economic cooperation and trade with China, exert every effort to host the "Chinese Culture Year" in Italy and push forward the development of bilateral ties at large.     In order to boost the ties, the Chinese president offered a five-point proposal, according to the press release.     Firstly, Hu said the two countries should increase communications, exchanges and mutual visits between high-level leaders.     Hu proposed that both sides host various events to mark the 40th anniversary of the establishment of diplomatic relations, adding that much attention should be attached to the "Chinese Culture Year" next year in Italy.     Secondly, Hu said the two sides should enhance political mutual trust and understand each other's major concerns.     The Taiwan and Tibet issues are the key concerns of the Chinese side, Hu said, urging Italy to understand China's concerns and offer support.     Hu also said he believed Italy would continue to exert its influence within the European Union to boost the EU-China ties at large.     Thirdly, Hu urged both sides to expand substantial cooperation on various fields such as trade, investment, science and technology, environment protection, medicine and tourism.     Fourthly, the Chinese president said both sides should increase people-to-people communications and cultural exchanges in order to boost their bilateral friendship.     Finally, Hu urged both sides to conduct more cooperation and communications in international organizations and on multi-national occasions.     Hu said both countries could enhance dialogue and coordination on various major international issues such as the global financial crisis, reform of the UN Security Council, climate change, environment protection and sustainable development.     Napolitano, on his part, praised China for its important role in the international arena as well as in addressing major global challenges.     He said he appreciates China's role in the G20 summit, the G8 + 5 summit and active participation in UN peacekeeping actions.     He also said the Italian side spoke highly of the measures China has taken to tackle the global financial crisis and economic downturn. He noted that China's participation is a must for the international community in its move to tackle the crisis, reform the international financial system and realize sustainable development.     On the EU-China relations, Napolitano said Italy would continue to play an active role in boosting the ties.     The president also reiterated Italy's adherence to the one-China policy.     According to the press release, Hu also briefed his Italian counterpart on the latest social and economic developments in China.     The two leaders held the talks at the Quirinal Palace, and Napolitano hosted a grand welcoming ceremony in honor of Hu prior to the talks.     Hu arrived in Rome earlier on Sunday for a state visit at the invitation of Napolitano.     Hu was also to attend the summit of the Group of Eight and major developing countries later this week in the central Italian city of L'Aquila.     This is the sixth time that the Chinese president has attended the G8 outreach session. The previous one took place in the northern Japanese resort of Toyako last July.     The G8, an informal forum of leading industrialized nations, includes Germany, France, Britain, Italy, Japan, the United States, Canada and Russia. 

ZAGREB, June 19 (Xinhua) -- Chinese President Hu Jintao arrived in the Croatian capital of Zagreb Friday for a state visit to strengthen the comprehensive cooperative partnership between the two nations.     This is the first visit to Croatia by a Chinese head of state since the two countries established diplomatic ties 17 years ago.     In Zagreb, President Hu is expected to meet Croatian leaders to discuss how to enhance bilateral cooperation and exchange views on major regional and global issues of common concern.     The two countries are expected to sign a host of cooperation deals involving various sectors during the visit.     "I believe that President Hu's visit to Croatia will have great impact on consolidating traditional friendship between China and Croatia and deepening all-round and mutually beneficial cooperation between the two countries," said Chinese Vice Foreign Minister Li Hui last week. Chinese President Hu Jintao (2nd R, front) is welcomed upon his arrival while Croatian President Stjepan Mesic (1st R, front) looks on at Zagreb, capital of Croatia, June 19, 2009. Hu arrived in Zagreb Friday for a state visit to strengthen the comprehensive cooperative partnership between the two nationsThe China-Croatia ties have developed steadily since the two countries established diplomatic relations 17 year ago. Their bilateral relations have entered a new era since the two countries forged a comprehensive cooperative partnership in 2005.     In recent years, China and Croatia have had more high-level exchanges, strengthened their political mutual trust, expanded their fruitful cooperation to all fields, and maintained close cooperation and mutual support on issues concerning each other's basic interests.     Croatia is the last leg of President Hu's three-nation tour, which has already taken him to Russia and Slovakia.     Hu had earlier attended a summit of the Shanghai Cooperation Organization and a summit of BRIC countries (Brazil, Russia, India and China) in Yekaterinburg, Russia.  

BRATISLAVA, June 18 (Xinhua) -- Chinese President Hu Jintao and his Slovakian counterpart Ivan Gasparovic held talks here on Thursday and they agreed to take the 60th anniversary of diplomatic ties as an opportunity to consolidate their traditional friendship and enrich the contents of cooperation.     Speaking highly of the longstanding friendship between the two countries, Hu noted in particular the substantial development of bilateral relations since the Central European country gained independence 16 years ago.     Expressing satisfaction at the state of bilateral ties, Hu said there are no outstanding issues left over by history or conflict of interests between China and Slovakia, Hu said. It is the shared goal of the two countries to expand consensus and deepen cooperation, he added. Visiting Chinese President Hu Jintao (L) meets with Slovakian President Ivan Gasparovic for talks in Bratislava, capital of Slovakia June 18, 2009"This is in the fundamental interests of the two countries and the two peoples," Hu said. He made a four-point proposal for the further development of bilateral ties.     Firstly, the traditional friendship should be consolidated and bilateral mutual political trust be enhanced, Hu said.     The frequent contacts between leaders of the two countries is important to the development of bilateral ties and the Chinese side welcomes President Gasparovic to visit China again. The two sides should also promote exchanges and cooperation between the two governments, legislative bodies and political parties so as to consolidate the political foundation of bilateral relations. Visiting Chinese President Hu Jintao (R, front), accompanied by Slovakian President Ivan Gasparovic, inspect the honor guard during a welcoming ceremony in Bratislava, capital of Slovakia June 18, 2009.Second, both side should enhance economic and trade cooperation and join efforts to cope with the ongoing financial crisis, Hu said, adding that this is the focus of bilateral cooperation at present.     They should expand trade links and achieve a balanced growth in two-way trade, increase mutual investments, expand areas of cooperation and oppose protectionism.     Different forms of cooperation should be encouraged in such fields as infrastructural construction, new energy, agriculture and environmental protection. Chinese President Hu Jintao (L) and Slovakian President Ivan Gasparovic meet with journalists after their talks in Bratislava, capital of Slovakia June 18, 2009In responding to the impact of the international financial crisis, the two countries should also strengthen communication, share experiences and push for the reform of international financial systems.     Third, cultural exchanges and cooperation should be expanded with more substance and the two sides should learn from each other for common development, he said.     Fourth, there should be strengthened coordination and consultation between the two countries in international and regional organizations such as the United Nations, as well as closer multilateral cooperation in efforts to make joint contributions to world peace and stability, he said.     Agreeing entirely with Hu's views, Gasparovic said the Chinese president's visit is of great significance to promoting bilateral cooperation in various fields and friendly relations between the two countries. Chinese President Hu Jintao and Slovakian President Ivan Gasparovic meet with journalists after their talks in Bratislava, capital of Slovakia June 18, 2009Slovakia will continue to adhere to the one-China policy, he said.     Only through concered efforts of all countries in the world could the crisis be tackled in an effective way.     The Slovakian president said his country welcomes more investments from China and is ready to promote reciprocal cooperation in the fields of science and technology, energy, new energy, infrastructure, machinery, tourism and agriculture.     Hu, currently on a three-nation tour, arrived here earlier in the day after concluding a state visit to Russia. He will also visit Croatia.     Earlier this week, the Chinese president attended the annual summit of the Shanghai Cooperation Organization and a meeting of the BRIC countries -- Brazil, Russia, India and China, in the Russian city of Yekaterinburg. 

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