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BEIJING, March 5 (Xinhua) -- China budgets 1.05 trillion yuan (154.4 billion U.S. dollars) of fiscal deficit this year to support economic growth as government revenue will fall significantly short of expenditures, says a government work report to be delivered by Premier Wen Jiabao at the parliament's annual session Friday.The government vowed to keep the debt at "appropriate" level. The total deficit consists of 850 billion yuan in central government deficit and 200 billion yuan in local government bonds, which will be included in local government budgets, reads the report, which was distributed to the media before the opening of the Third Session of the 11th National People' s Congress (NPC). The Third Session of the 11th National People's Congress (NPC) opens at the Great Hall of the People in Beijing, capital of China, March 5, 2010The government will continue to implement the policy of structural tax reductions to expand domestic demand and promote economic restructuring.It will also keep running the package plan for dealing with the global financial crisis, and increase spending to complete work on projects now under construction, improve people's well-being and maintain stability.According to calculation of the Ministry of Finance, the planned budget will take up about 2.8 percent of the GDP.China's fiscal deficit hit 950 billion yuan last year, a record high in six years, but still less than 3 percent of GDP.
BEIJING, March 10 (Xinhua) -- President Hu Jintao and other Chinese leaders joined lawmakers Wednesday in discussions on the work report of the National People's Congress (NPC) Standing Committee.In the deliberation with lawmakers from central China's Henan Province,Hu said he totally agrees with the report delivered by Wu Bangguo, chairman of the NPC Standing Committee, at the annual session of the NPC, China's supreme legislature.In addition, Hu urged the province, a leading grain grower in China, to make efforts to improve its agricultural production capacities, ensure supplies of farm produce and sharpen its agricultural competitiveness in the world. Chinese President Hu Jintao (R, front) joins a panel discussion with deputies to the Third Session of the 11th National People's Congress from central China's Henan Province in Beijing, China, March 10, 2010Hu also said emphasis should be put on improving people's livelihood, especially in education, employment, social security, health care and housing.He also stressed promoting the progress of non-profit cultural programs and cultural industry to meet people's demands.Addressing deputies from Shanxi Province, top legislator Wu Bangguo pledged the NPC Standing Committee would be open to the supervision of the deputies and the people.Wu said the top priority of the legislative work this year is to shape a socialist legal system with Chinese characteristics.Wu vowed to speed up legislation efforts for the formation of such a system.In the deliberation with NPC deputies from Hebei Province, Premier Wen Jiabao said he entirely endorses the legislative report, while calling on the province to intensify its efforts in transforming the economic growth pattern and readjusting industrial structures.The province should push ahead the structural readjustment of traditional industries, cultivate new pillar industries and vigorously develop service industries such as finance, insurance and logistics, Wen said.Vice President Xi Jinping discussed the report with lawmakers from the Guangxi Zhuang Autonomous Region. He urged to further promote harmony and stability in regions inhabited by ethnic minorities.He Guoqiang, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joined deputies from Inner Mongolia.In the discussion, He, also chief of the Central Commission for Discipline Inspection of the CPC, called for intensified efforts in combating corruption.Concrete efforts should be made to establish gradually an effective anti-corruption system, He said.Zhou Yongkang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, joined lawmakers from Sichuan Province.Practice has repeatedly proved the socialist political system with Chinese characteristics is a good system, said Zhou, citing the achievements in reconstruction of quake-devastated Sichuan Province and China's comparatively fast recovery from the global financial crisis.

BEIJING, March 12 (Xinhua) -- The gang-related trials in southwest China's Chongqing were carried out in an open, just and transparent way, Qian Feng, president of the Higher People's Court of Chongqing, said here Friday.Qian made the remarks when attending a panel meeting of the annual session of the National People's Congress (NPC), China's top legislature, in Beijing."The crackdown on gangs was just one of the judicial work highlights in Chongqing last year," Qian said while attending the meeting. "The number of gang-related cases and those involved was relatively low in Chongqing compared with the country's figures.""We heard those cases strictly according to the criminal law ," Qian said.He said more than 200 deputies to legislatures at different levels and hundreds of journalists heard the court proceedings of those cases, particularly the case of Wen Qiang, a former judicial chief of the municipality.Chongqing started a sweeping crackdown against organized crimes in the city in June last year, in which more than 3,300 suspects were arrested.A total of 87 officials were prosecuted after the massive crackdown for being related with gangs, including 12 high-ranking officials.
BEIJING, March 14 (Xinhua) -- Chinese Premier Wen Jiabao said here Sunday a stable exchange rate of the Renminbi(RMB), or yuan, will facilitate the recovery of the world economy in the mid of the global financial crisis.He made the remarks at a press conference after the closing of the annual parliament session.Wen said since China began its currency reform to unpeg the yuan against the U.S. dollar in July 2005, the yuan has appreciated 21 percent against the U.S. dollar, or 16 percent in real terms. Chinese Premier Wen Jiabao smiles during a press conference after the closing meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 14, 2010"We did not depreciate the RMB from July 2008 to February 2009 when the global economy was in extreme trouble, but it appreciated in real terms by 14.5 percent," Wen told hundreds of domestic and foreign journalists.Wen said during this period, China's exports fell by 16 percent but imports only dropped 11 percent and its trade surplus decreased 102 billion U.S. dollars.
BEIJING, March 6 (Xinhua) -- Foreign scholars and journalists were generally positive in reviewing the government's strategies and outlined the challenges ahead as Chinese Premier Wen Jiabao's government work report delivered Friday caught wide attention across the world.Hong Pingfan, chief of the global economic monitoring center of the UN Department of Economic and Social Affairs, said the year 2009 saw the world mired in the first global economic recession since World War II.It was against this background that China launched a massive fiscal stimulus package as part of its strenuous efforts to tackle the crisis, successfully achieving 8 percent growth for the year, he said."China has not only realized its own economic growth, but also boosted the confidence of other countries to deal with the financial crisis, giving an impetus to the world economic recovery," he added.Marcio Pochmann, director of Brazil's Institute of Applied Economic Research, said China's achievements were closely related to the government's role."Countries that were more able to cope with the crisis and emerge from it were those with an organized government and with public policies adequate to the moment of crisis," he said.The Chinese government responded quickly, adopting favorable macro-economic policies and asking major state-owned banks to inject capital into the domestic market, he said.Japanese research fellow Takashi Sekiyama, from the Tokyo Foundation Policy Research Division, said China's home appliance subsidy programs in rural areas and tax cuts on small cars encouraged consumption.China's stimulus policies contributed to the swift expansion of investment, he said, adding the Chinese economy's vigorous growth had greatly helped the world economy.Belgian-Chinese Chamber of Commerce Chairman Bernard Dewit said it was far-sighted for the Chinese government to announce the acceleration of the transformation of the economic growth pattern. In the long run, China couldn't develop its economy continuously only by exporting low-end products such as T-shirts, he said, adding China had to produce more high-end products with high added value.BBC Chinese Director Li Wen said the Chinese government had to change local officials' views on how to evaluate their achievements in their posts in order to transform the economic growth pattern.The current situation where officials' achievements were mainly linked to GDP and fiscal revenue should be changed so that local officials would not only pursue rapid economic increase, he said.
来源:资阳报