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SEOUL, April 7 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), on Tuesday called for stronger economic and trade ties between China and South Korea and urged their business communities to work together to help promote the strategic cooperation between the two nations.     Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the call in an address at a welcome luncheon for him hosted by four Korean business groups: the Korea Foreign Trade Association, the Korea Chamber of Commerce and Industry, the Federation of the Korean Industries, and the Korea Federation of Small and Medium Businesses. Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, delivers a speech during a luncheon with chiefs of four South Korean business lobby groups in Seoul, South Korea, on April 7, 2009. Li praised the development of bilateral ties since China and South Korea established diplomatic ties 17 years ago. During the past 17 years, bilateral relations have witnessed rapid development and cooperation and exchanges expanded in a comprehensive manner, which has benefited the two countries and the region, he said.     The Communist Party of China and the Chinese government attach great importance to the ties with South Korea and are willing to work with South Korea to continue strengthening and deepening the strategic cooperation, he said.     Li spoke about China's stand regarding the current global financial crisis, the measures it has adopted to counter the crisis and its participation in international cooperation.     The London summit of the Group of 20 yielded pragmatic results, he said. At the summit, Chinese President Hu Jintao's speech on strengthening macro-policy coordination, reforming international financial institutions and improving financial regulation, played a constructive role in the outcomes of the meeting, Li said.     He said that Hu and his South Korean counterpart Lee Myung-bak, at their meeting in London, agreed to work to deepen the pragmatic cooperation in various fields between the two countries and push forward the bilateral relations.     Li suggested both sides make efforts to deepen the mutually beneficial cooperation to ensure the smooth growth of bilateral trade, enhance policy coordination to promote financial cooperation, work out new ways to boost mutual investment and strengthen multilateral cooperation to improve the international trade environment.     He also proposed entrepreneurs of the two countries continue to contribute to the bilateral strategic cooperative partnership, make new efforts to promote the mutual understanding and friendship between China and South Korea, facilitate the exchanges between the younger generation and promote the cultural exchanges between the two nations.     South Korea is the last leg of Li's four-nation tour, which has already taken him to Australia, Myanmar and Japan.

BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy.     The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December.     The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year    The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways.     "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month."     "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth."     The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy.     The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence.     Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans.     Medium and long-term corporate loans made up 32 percent.     "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International.     The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year.     The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating.     That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said.     Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006.     The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year.     "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan.     But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

BEIJING, March 16 (Xinhua) -- China's Ministry of Railways (MOR) signed a deal with state-owned vehicle producer CNR Corporation Limited (CNR) here Monday to purchase 100 high-speed CRH trains for 39.2 billion yuan (about 5.74 billion U.S. dollars).     CRH, an abbreviation for China Railway High-speed, refers to trains with speeds above 200 km per hour. With a designed speed of 350km/h, the new CRH trains will travel between Beijing and Shanghai in 2011, when the construction of the 1318-km, high-speed railway between the capital city and the country's financial hub is expected to complete.     "The contract does not include any foreign parties, as Chinese companies possess core technologies for the high-speed trains and have complete intellectual rights over the 350km/h CRH type," said Zhang Shuguang, director of the transport department under the MOR.     The MOR had introduced railway technologies from Japan, France, Germany and Canada in the development and production of the 200km/h CRH trains already in operation at present.     According to the agreement between the ministry and CNR, all 100 trains will be self-developed and manufactured under the CNR group. Tangshan Railway Vehicle Co. and Changchun Railway Vehicle Co., two CNR subsidiaries, will be in charge of the production of 60 sets and 40 sets, respectively.     Zhang said China would see "large purchases" of CRH trains in the coming years upon the completion of more passenger railway lines across the country.     The MOR has planned to spend 500 billion yuan to buy trains over the next four years.     "The purchases will provide strong support for related industries," Zhang said.     The manufacturing of a CRH train requires nearly 100,000 parts from a wide range of industries such as mechanics, metallurgy, electrics, chemical, and materials.     "We will buy more CRH trains this year as a move to help stimulate domestic demand," said Zhang without giving further details on the purchasing plan.

NANJING, Feb. 3 (Xinhua) -- China's Vice Premier Wang Qishan said on Monday that the country should take advantage of the rare opportunity to expand the outsourcing industry.     The State Council has identified 20 pilot cities to take part in a program that offers perks to businesses that opt to participate in outsourcing. The program will help ensure economic growth, industry restructuring and the job promotion -- notably for the college graduates, according to Wang in an industry meeting held on Monday in the east city of Nanjing.     The government would offer more support in tax breaks, financing, and vocational training, Wang said.     The Vice Premier noted it was important to nurture China's outsourcing industry, and local governments should create sound legal conditions to pave the way for the industry expansion.     Twenty cities, including Beijing, Shanghai, Xi'an, Suzhou and Hangzhou, have been designated for pilot service outsourcing programs. Beginning Jan. 1, these companies are eligible for tax breaks, financial support, subsidies and intellectual property rights protection, the Ministry of Commerce (MOC) said on Monday.     More multinational companies and financial institutions, hard hit by the global financial crisis outsource their business to less costly regions. This creates an opportunity for Chinese outsourcing companies, said vice minister of MOC Ma Xiuhong.     McKinsey, the New York based consultancy, said in a report last month that China posted rapid growth in the business but was lagged behind India, whose market value was nine times that of China.     The report said that despite the challenges, China still had potential to become the main outsourcing destination in the future.

来源：资阳报