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ISLAMABAD, April 26 (Xinhua) -- Pakistani President Pervez Musharraf and Prime Minister Yousuf Raza Gillani met respectively with visiting Chinese Foreign Minister Yang Jiechi on Saturday and reiterated their resolve to improve bilateral ties to a new level.     They said Pakistan will always stand with China on the Taiwan and Tibet issues and Beijing Olympics will be a great success. Pakistani President Pervez Musharraf (L) meets visiting Chinese Foreign Minister Yang Jiechi in Rawalpindi, Pakistan, April 26, 2008.Musharraf, at a meeting with Yang in the city of Rawalpindi close to Islamabad, appreciated China's consistent assistance and help, saying Pakistan would continue to carry out cooperation with China in such fields as trade, energy, communication, education and culture.     The smooth holding of the Beijing Olympic torch relay in Islamabad showcased the deep-rooted friendship between the two neighboring countries, said Musharraf     Gillani, while meeting with Yang, said Pakistan and China enjoy "all-weather and time-tested" relations and the new Pakistani government will strive to push bilateral relations forward on the basis of mutually-beneficiary cooperation.     Gillani welcomed Chinese firms to invest in Pakistan, saying to develop relationship with China will be the priority of the Pakistani government. Pakistani Prime Minister Yousaf Raza Gilani (R) meets visiting Chinese Foreign Minister Yang Jiechi (L) in Islamabad, capital of Pakistan, April 26, 2008. Yang described China-Pakistan relations as good neighbors, friends, partners and brothers, saying the two countries have seen sound cooperation on politics, trade, mega projects, military, security, culture as well as regional and international issues.     China thanks Pakistan for its firm support on the Taiwan and Tibet issues, and will support Pakistan's efforts to safeguard national stability and development, Yang said.     Yang said the Chinese government attaches great importance to relations with Pakistan and will deepen bilateral strategic cooperation and lift China-Pakistan strategic partnership to a new height.     Yang also expressed appreciation for Pakistan's successful holding of the Beijing Olympic torch relay, which he said is a testimony to sincere friendship between the two countries.     Yang arrived in Islamabad o Friday afternoon for a two-day visit to Pakistan, the first visit by the Chinese foreign minister since the new Pakistani government took office last month.     Yang is also the first senior Chinese official visiting Pakistan after Musharraf paid a state visit to China from April 10 to 15. Pakistani President Pervez Musharraf (L) meets visiting Chinese Foreign Minister Yang Jiechi (R) in Rawalpindi, Pakistan, April 26, 2008.Yang held talks with his Pakistani counterpart Shah Mahmood Qureshi after his arrival, and they discussed possibilities to expand cooperation between the two countries.     At a news briefing following the talks, Yang announced that China will provide Pakistan 70 million RMB (around one million U.S. dollars as technical and economic assistance and 500,000 RMB (around 71,429 U.S. dollars) for equipment for Pakistan foreign ministry.     During the 24-hour visit, Yang also met with Pakistan's National Assembly Speaker Fehmida Mirza, Senate Chairman Muhammad Miam Soomro, Nawaz Sharif, leader of Pakistan Muslim League-Nawaz (PML-N), and Pakistan Muslim League-Quaid (PML-Q) chief Chaudhry Shujaat Hussain.

BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis.     The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said.     "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council.     "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua.     OUT OF SLOWDOWN CONCERNS     The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25.     Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint.     Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua.     Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October.     China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters.     Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses.     Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating.     The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February.     "Inflation is no longer a threat with the declining commodities prices," Tang said.     The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook."     TAX CUT TO BOOST DEMAND     In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday.     China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007.     The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences.     The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said.     GLOBAL COORDINATED RESPONSE     The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said.     Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis.     The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent.     Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions.     Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.

HARBIN, July 24 (Xinhua) -- A senior Chinese official has called for carrying on ideological emancipation, persisting in the reform and opening-up policy, pushing forward scientific development and making new breakthroughs in promoting social harmony, to promote rapid and sound economic and social development.     Li Changchun, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during an inspection tour in Heilongjiang Province from July 20-23, in the company of the provincial CPC chief Ji Bingxuan and governor Li Zhanshu. Li Changchun (L1), a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, talks to staff at Donghu community during an inspection tour in Heilongjiang Province July 22, 2008He urged the northeastern province to seize the opportunity for industrial revival.     Li visited villages, communities, factories and cultural organizations in the cities of Mohe, Heihe, Daqing and Harbin.     In Mohe, the country's northeasternmost town, the official paid a visit to the Beiji (Polar) Village, where he learned that local villagers now have cable TV. He also visited Daqing, China's largest oil production base and Harbin, the provincial capital.     Local governments should build more public cultural facilities, he said.     He urged the province to deepen its cultural restructuring, support multi-talented professionals and develop cultural products with brand names that were recognized at home and abroad.     In Daqing, Li also visited the memorial to Iron Man Wang Jinxi, an oil worker who devoted his life to the development of the petroleum industry.     Daqing, a city built on the vast oil field, is known for the "Daqing Red Flag", a model set for all industries in the country by late leader Mao Zedong.

BEIJING, Sept. 20 (Xinhua) -- Premier Wen Jiabao said on Saturday China was confident and fully capable of keeping a good momentum of economic growth this year despite domestic difficulties and a global economic slowdown.     Addressing a seminar for the country's ministerial-level official in Beijing, Wen said this year had been the most difficult year as China faced both global challenges and domestic problems in economic operation. Premier Wen Jiabao on Saturday addresses a seminar for the country's ministerial-level official in Beijing. Global financial instability and economic slowdown had exerted a strong influence on the country. In addition, China had to tackle domestic problems, including price increases and regional economic slowdown.     However, the country had adopted a series of counter measures and these had proved effective, he said.     With huge domestic demand, relatively abundant capital and an improved labor force quality, the country was fully confident and capable of reinforcing the good momentum of economic growth. Wen noted the material wealth collected in the past three decades and accumulated experience would help the country to address problems arising from economic development.     Efforts should be made to rein in inflation and ensure macro-economy stability, especially the financial market and the stock market, he stressed.     In his speech, Wen urged local governments and officials to put work and food safety at the top of their agendas.     The development of enterprises and economy should not be at the cost of people's lives and health, he emphasized.     Wen also vowed to beef up efforts to monitor food quality and rectify the food market. All illegal activities should be severely punished to ensure people have safe food.     He also championed the balanced development between the rural and urban areas, saying agricultural issues should be the first priority of government work     The seminar was presided over Vice Premier Li Keqiang. Vice President Xi Jinping also attended.

GUANGZHOU/NANJING, July 4 (Xinhua) -- The first cross-Strait weekend chartered flight from China's mainland to Taiwan took off at 6:31 a.m. from Guangzhou, capital city of the southern Guangdong Province early Friday morning.     More than 100 mainland tourists aboard the Airbus A330 became the first group of people on a sight-seeing tour allowed to Taiwan amid warming cross-Strait ties. The flight has 258 passengers.     The historic flight by China Southern Airlines (CSA) is scheduled to land at Taipei Taoyuan Airport in Taiwan at 8:10 a.m. after a 1,124-km journey.     "I have been expecting to visit Taiwan, the Treasure Island, and my dream will finally come true today," mainland tourist Shi Anwei told Xinhua before boarding the plane. "I was too excited to sleep last night."     Following suit was a flight from Xiamen of eastern Fujian Province that took off at 7:16 a.m. The flight, MF881 by the Xiamen Airlines with 203 passengers, is expected to arrive at the Songshan Airport of Taipei at 8:51 a.m.     Each passenger witnessing the historical moment received a gift package from the airlines, which enclosed a model plane and map of Taiwan.     At a separate ceremony in East China's Nanjing City marking thecity as the fifth new city to conduct the cross-Strait chartered flight, Zheng Lizhong, mainland-based Association for Relations Across the Taiwan Strait (ARATS) Executive Vice Chairman, said the start of the weekend chartered flight and beginning of the mainland tourists' visit to Taiwan "is destined to open a new chapter in the cross-Straits cultural and economic communications."     A high-ranking mainland aviation official said that since Shanghai was chosen as the first city for cross-Strait flight operation five years ago, "there has been a small step each year, but they have amounted to a major step in the past five years."     "The ever more frequent and convenient flights across the Straits are not only improved means of transportation, they are also an emotional and cultural bridge for the people, and changed the way of thinking of both sides," the official said.     However, he said, real direct flight hadn't been realized yet as all of the planes flew to Taipei by way of Hong Kong.     Quoting Dr. Sun Yat-sen, the great pioneer of Chinese democratic revolution, the official said, "the real success is still in front and we need to work harder."     The first chartered flight from Nanjing started at 8:05 a.m.     Some 760 Chinese mainland tourists from Beijing, Shanghai, Nanjing, Xiamen and Guangzhou started the first weekend charter flight to Taiwan on Friday, three weeks after the mainland's Association for Relations Across the Taiwan Straits and the Taiwan-based Straits Exchange Foundation met last month.