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ISTANBUL, Turkey, Nov. 28 (Xinhua) -- Chinese and Turkish business people signed 19 contracts here Friday on the purchase of Turkish commodities worth about 230 million U.S. dollars. Visiting China's top political advisor Jia Qinglin attended the signing ceremony after the Sino-Turkish economic and trade cooperation forum which was attended by government officials and business people from the two countries. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said in his speech delivered at the forum that China and Turkey should make further plans on the future development of bilateral economic and trade cooperation. China-Turkey trade volume exceeded 10 billion U.S. dollars last year and the figure for this year is expected to reach 13 billion U.S. dollars. He called on business people from both countries to make joint efforts to further tap cooperation potentials, increase mutual investment, expand cooperation in infrastructure construction and project engineering, and enhance multi-lateral economic and trade cooperation. Jia Qinglin (back,R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), attends a signing ceremony of China-Turkey commodity purchase after addressing the China-Turkey Economic Trade and Cooperation Forum in Istanbul, Turkey, Nov. 28, 2008The Chinese side is ready to speed up cooperation with the Turkish side in communications and tourism, said Jia. He also urged the two sides to create more and better opportunities for bilateral business cooperation. On the current international financial crisis, Jia said the Chinese side will cooperate with the international community including Turkey in this regard and make its due contributions to safeguarding international financial stability and promoting world economic growth. Jia arrived here Friday from Ankara to continue his official goodwill visit as guest of Speaker of the Turkish Grand National Assembly Koksal Toptan. Turkey is the second leg of Jia's four-nation visit which has taken him to Jordan and will also take him to Laos and Cambodia.
BRUSSELS, Jan. 29 (Xinhua) -- Chinese Premier Wen Jiabao arrived in Brussels on Thursday evening for an official visit to the European Union (EU) headquarters. The premier was welcomed at the Brussels international airport by European Commission officials, Belgian Foreign Ministry officials, officials of the Chinese mission to the EU and the Chinese embassy in Belgium, as well as Chinese students studying in Belgium. In a written statement distributed to the press upon his arrival, Wen said the world is undergoing profound changes with a volatile international situation, more regional conflicts and a spreading financial crisis. In this context, to enhance dialogue, promote consultations and deepen cooperation is in the interests of both China and the EU, and in line with the trend of the times, which is for peace, stability and development, he said. Wen said he is looking forward to having frank and in-depth exchange of views with EU leaders on China-EU relations, on how to jointly deal with the global financial crisis, and on other international and regional issues of common concern. "I hope and believe that this visit, as an important trip of confidence, will enhance the confidence of China and the EU in their future relations and in practical and mutually beneficial cooperation. I also hope and believe that this visit will enhance the confidence of the international community in the all-round strategic partnership between China and the EU," he said. During his two-day visit in Brussels, Wen is scheduled to hold talks with European Commission President Jose Manuel Barroso. He will also meet EU foreign and security policy chief Javier Solana. Brussels is the third leg of Wen's European tour after Switzerland, where he attended the annual meeting of the World Economic Forum in Davos, and Germany. The trip will also take him to Spain and Britain.
WASHINGTON, Nov. 15 (Xinhua) -- Chinese President Hu Jintao on Saturday called on the international community to make concerted efforts to tide over difficulties arising from the global financial crisis. Hu made the appeal while addressing a summit meeting of the Group of Twenty (G20) on financial markets and the world economy in Washington. RESTORE MARKET CONFIDENCE President Hu urged the international community to take all necessary steps to promptly restore market confidence and stop the spread and development of the financial crisis. "The international financial crisis has now spread from some parts of the world to the entire globe, from developed countries to emerging markets, and from the financial sector to the real economy," said Hu, who arrived here Friday for the G20 summit. "To effectively deal with the financial crisis, all countries should strengthen confidence and intensify coordination and cooperation," he stressed. To deal with the crisis, Hu said major developed countries "should undertake their due responsibilities and obligations, implement macroeconomic policies that are conducive to economic and financial stability and growth both at home and internationally, take active steps to stabilize their own and the international financial markets and safeguard investors' interests." "Meanwhile, we should all enhance macroeconomic policy coordination, expand economic and financial information sharing, and deepen cooperation in international financial regulation so as to create necessary conditions for stability in both domestic and international markets," Hu added. REFORM INTERNATIONAL FINANCIAL SYSTEM Hu urged the international community to earnestly draw lessons from the ongoing financial crisis and, based on full consultations among all stakeholders, undertake necessary reform of the international financial system. "Reform of the international financial system should aim at establishing a new international financial order that is fair, just, inclusive and orderly and fostering an institutional environment conducive to sound global economic development," Hu said. He said the reform should be conducted in a comprehensive, balanced, incremental and result-oriented manner. "A comprehensive reform is one that has a general design and includes measures to improve not only the international financial system, monetary system and financial institutions, but also international financial rules and procedures," he noted. "A balanced reform is one that is based on overall consideration and seeks a balance among the interests of all parties," Hu said. "An incremental reform is one that seeks gradual progress," said the president, adding that it should proceed in a phased manner, starting with the easier issues, and achieve the final objectives of reform through sustained efforts. "A result-oriented reform is one that lays emphasis on practical results. All reform measures should contribute to international financial stability and global economic growth as well as the well being of people in all countries," he stressed. Based on those considerations, Hu listed four priorities in reforming the international financial system -- stepping up international cooperation in financial regulation; advancing reform of international financial institutions; encouraging regional financial cooperation; and improving the international currency system. HELP DEVELOPING COUNTRIES COPE WITH CRISIS President Hu also called for international efforts to help developing countries and the least developed countries cope with the global financial crisis. "When coping with the financial crisis, the international community should pay particular attention to the damage of the crisis on developing countries, especially the least developed countries (LDCs), and do all it can to minimize the damage." It is necessary to help developing countries maintain financial stability and economic growth, sustain and increase assistance to developing countries, and maintain economic and financial stability in developing countries, he said. CHINA TO PLAY CONSTRUCTIVE ROLE Responding to natural disasters and the global financial crisis, China has made timely adjustment to its policies and strengthened macroeconomic regulation, Hu said. "Steady and relatively fast growth in China is in itself an important contribution to international financial stability and world economic growth," he noted. "The Chinese government has adopted measures to boost economic development, including lowering the required reserve ratio, cutting the deposit and lending rates, and easing the corporate tax burdens," Hu told the participants. Meanwhile, as a responsible member of the international community, "China has taken an active part in the international cooperation to deal with the financial crisis and played a positive role in maintaining international financial stability and promoting the development of the world economy," he said. "Stability of the international financial markets and sustained development of the global economy are crucial to the well being of all countries and people," Hu noted. "Let us tide over the difficulties through concerted efforts and contribute our share to maintaining international financial stability and promoting global economic growth," he concluded.
BEIJING, Jan. 4 (Xinhua) -- Major Chinese lenders are expanding a preferential policy on house loan interests to cut the burden of the country's home buyers hit by the spreading financial crisis. For individuals who bought houses on mortgage lending before Oct. 27, 2008 and have not paid off the loans, their credit interest rates could be reduced to 70 percent of the benchmark rate from the previous 85 percent, customer service staff of several banks told Xinhua on Sunday. The discount will be available for Beijing, Shanghai and Qingdao clients of the China Construction Bank after their applications go through default record checks. The Bank of China branch in Shanghai is also providing the preference but the Beijing branch keeps the rate unchanged. The Industrial and Commercial Bank of China, the country's largest lender, and the Agricultural Bank of China are also making specific rules for similar rate discounts. China's central bank announced in October it would reduce the lower limit of interest rates on individual house loans to 70 percent of the benchmark credit rate from 85 percent, starting from Oct. 27 last year. The move was viewed as a stimulus to the flagging property market but it has been unclear whether house mortgage deals before that date can enjoy the favor. Under the rate discount, home buyers with a 500,000-yuan (73,500 U.S. dollars) bank loan to be paid off within 20 years can save nearly 60,000 yuan of interest, analysts estimate.
TAIPEI, Nov. 6 (Xinhua) -- Chinese mainland's chief negotiator on Taiwan affairs Chen Yunlin said Thursday that complicated historical problems across the Taiwan Strait could well be resolved through mutual trust. Chen, president of the mainland's Association for Relations Across the Taiwan Strait (ARATS), told a banquet, held in the island's landmark Grand Hotel, that problems could be settled as long as the two sides made concerted efforts with "kindness and wisdom" to create conditions and firstly solve economic and livelihood problems closely linked with public interests. Chen was grateful for the considerate arrangement and warm and friendly service on the part of the Taiwan-based Straits Exchange Foundation (SEF) over the past four days. He was on a five-day visit to the island starting Monday for economic talks with the SEF, which was the first meeting held in the island between the ARATS and the SEF. The two signed historical deals concerning direct shipping, flights and postal services. Chen Yunlin, chief of mainland's Association for Relations Across the Taiwan Straits (ARATS), delivers a speech at a return banquet in Taipei on Nov. 6, 2008"I've a strong feeling that the Taiwan public have paid great attention to consultations of the two organizations, and they play great hope that cross-Strait exchanges and cooperation can deepen in order to achieve mutual benefits and a win-win situation," Chen said in his address. He said there was a great relief that they did not make the public feel disappointed and the great attention and expectation on the consultations would greatly boost cross-Strait talks. Chen pointed out that the peaceful development of cross-Strait relations was in line with the interests of the Taiwan compatriot and was a right direction of history. "We have taken the first step, and will firmly move on with steadier steps." "We understand the unusual experience the Taiwan compatriots went through over the past century and we know there are different views on the island about cross-Strait relations. It requires us to negotiate and solve them through sincerity and patience," he said. SEF Chairman Chiang Pin-kung said at the banquet that in more than half a year after the two organizations resumed consultations, great achievements had been made. He expected an extensive cooperation and exchanges across the Strait to benefit people on both sides. Chen Yunlin (2nd L), chief of mainland's Association for Relations Across the Taiwan Straits (ARATS), and Zheng Lizhong (1st L), vice chairman of ARATS, present gift to Taiwan business representatives at the luncheon held by the industrial and commercial circles of Taiwan in Taipei on Nov. 6, 2008