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BEIJING, April 24 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for stepped-up recycling to achieve better use of resources. Li made the comments during a visit to pilot enterprises Thursday. He also attended a forum on the development of recycling economy. Li emphasized the importance of recycling and urged companies to cultivate new areas of economic growth, as the global financial crisis still weighed on the real economy. Chinese Vice Premier Li Keqiang (2nd R Front) listens to an official of Shenhua Group Company introducing how to realize the development of the recycling economy in Beijing, capital of China, April 23, 2009. Promoting recycling would not only improve the use of resources and protect the environment, it would also help companies become more profitable, he said. Enterprises should employ advanced technology and equipment and improve their management to achieve the most efficient use of resources with the lowest level of pollution and wastes, he said. Li stressed technological progress and innovation, especially in key industries and major enterprises, and called for increased investment to support the development of recycling. From late April to August, about 100 academicians, experts and work staff would be sent to companies and grassroots units nationwide to do research and provide guidance on recycling.
BEIJING, June 16 (Xinhua) -- For the first time in more than one year, China reduced its holding of U.S. Treasury bonds, and experts told Xinhua Tuesday that move reflected concern over the safety of U.S.-dollar-linked assets. Data from the U.S. Treasury showed China pared its stake in Treasury bonds by 4.4 billion U.S. dollars, to 763.5 billion U.S. dollars, as of the end of April compared with March. Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University, told Xinhua that the move might reflect activity by China's institutional investors. "It was a rather small amount compared with the holdings of more than 700 billion U.S. dollars." "It is unclear whether the reduction will continue because the amount is so small. But the cut signals caution of governments or institutions toward U.S. Treasury bonds," Zhang Bin, researcher with the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, a government think tank, told Xinhua. He added that the weakening U.S. dollar posed a threat to the holdings of U.S. Treasury bonds. The U.S. government began to increase currency supply through purchases of Treasury bonds and other bonds in March, which raised concern among investors about the creditworthiness of U.S. Treasury bonds. The move also dented investor confidence in the U.S. dollar and dollar-linked assets. China, the biggest holder of U.S. Treasury bonds, is highly exposed. In March, Premier Wen Jiabao called on the United States "to guarantee the safety of China's assets." China is not the only nation that trimmed holdings of U.S. Treasury bonds in April: Japan, Russian and Brazil did likewise, to reduce their reliance on the U.S. dollar. However, Tan said that U.S. Treasury bonds were still a good investment choice. Hu Xiaolian, head of the State Administration of Foreign Exchange, said in March that U.S. Treasury bonds played a very important role in China's investment of its foreign exchange reserves. China would continue to buy the bonds while keeping an eye on fluctuations. Zhang said it would take months to see if China would lower its stake. Even so, any reduction would not be large, or international financial markets would be shaken, he said. Wang Yuanlong, researcher with the Bank of China, said the root of the problem was the years of trade surpluses, which created the huge amount of foreign exchange reserves in China. It left China's assets tethered to the U.S. dollar, he said. He said making the Renminbi a global currency would cut China's demand for the U.S. dollar and reduce its proportion in the trade surplus.
HANOI, May 25 (Xinhua) -- Chinese Foreign Minister Yang Jiechi attended the 9th Foreign Ministers' Meeting of the Asia-Europe Meeting here on Monday and delivered a speech at the opening ceremony. Yang said with deepening globalization, the destinies of Asia and Europe have been tied together. Countries must intensify cooperation, deepen mutual trust and build a new and closer Asia-Europe partnership. To build such a partnership, Yang said countries should enhance mutual understanding through dialogue on an equal footing. Countries should promote development through intensified cooperation. Countries should advocate mutual tolerance through expanded exchanges. Countries should strengthen its institution building to ensure the vitality. Yang made several suggestions to cope with the ongoing financial and economic crisis and other global challenges. First, Yang said countries should strengthen confidence and strive for economic recovery and growth. Countries should firmly oppose all forms of protectionism and take concrete steps to help develop countries maintain financial stability and work together to overcome the international financial crisis. Second, countries should take active measures to counter the threat of A/H1N1 flu and other infectious diseases and minimize the impact of the flu on global trade and economic activities, said Yang. Third, countries should think for the future, remain committed to the principle of "common but differentiated responsibilities" and step up cooperation in tackling climate change. Fourth, countries should increase input and foster and follow anew energy security concept that calls for win-win cooperation, diverse forms of development and common security through coordinated supply, said Yang. Fifth, countries should promote peaceful and negotiated settlement of hotspot issues and regional disputes on the basis of mutual respect, mutual trust and cooperation. The international community should fully respect the sovereignty and territorial integrity of the countries concerned, provide active and constructive help, and avoid willfully applying pressure or sanctions. Yang said to deal with the international financial crisis, China has adjusted its macro-economic policies and implemented positive fiscal policy and loosened its monetary policy in an appropriate manner. China has launched a package of measures to expand domestic consumption and stabilize export market and these measures have started to take effect. As a responsible member of the international community, China will continue to work together with other ASEM members to strengthen coordination in the macro-economic policy, advance the reform of international financial system and actively safeguard the stability of the multi-lateral trade system. The 9th Foreign Ministers' Meeting of the Asia-Europe Meeting (ASEM) opened here on Monday with the participation of foreign ministers and delegates from 45 ASEM members in the two-day meeting. Vietnamese Prime Minister Nguyen Tan Dung delivered the opening speech of the meeting.
BEIJING, April 21 (Xinhua) -- A senior Chinese official Tuesday called for steady, active efforts to build a just, efficient and authoritative socialist judicial system. Zhou Yongkang, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the comment when presiding over a meeting here on judicial reform and work. He called for intensified efforts to implement the decisions of the CPC Central Committee, get an accurate understanding of the right direction of reform, and carry out research and analysis. Deepening judicial reform serves the urgent needs to consolidate state power, carry out the basic policy of governing the country by law, and to ensure social fairness and justice, according to Zhou, who is also the secretary of the CPC Central Political and Legislative Affairs Committee. Judicial reform matters China's long-term stability, social harmony and stability, as well as direct interests of the public and the development and progress of the country's political and legislative work, he stressed. Reform should reflect opinions and suggestions from all social strata and be in line with national conditions and public opinions, he said. He also called for efforts to gather the strength and pool the wisdom of the masses in the reform process and ensure reform had practical effects.
BEIJING, June 14 (Xinhua) -- Chinese President Hu Jintao left Beijing Sunday for the annual summit of the Shanghai Cooperation Organization (SCO) and the first meeting of BRIC (Brazil, Russia, India and China) leaders in Russia's Ural city of Yekaterinburg. He will then pay a state visit Russia followed by state visits to Slovakia and Croatia from June 18 to June 20. Hu's visits to the three nations are at the invitation of Russian President Dmitry Medvedev, Slovak President Ivan Gasparovic and Croatian President Stjepan Mesic. Hu's delegation includes Ling Jihua, member of the Secretariat of the Communist Party of China (CPC) Central Committee and director of General Office of the CPC Central Committee; Wang Huning, member of the Secretariat of the CPC Central Committee and director of Policy Research Office of the CPC Central Committee; State Councilor Dai Bingguo; Foreign Minister Yang Jiechi; minister of the National Development and Reform Commission Zhang Ping; Minister of Commerce Chen Deming; Minister of Culture Cai Wu; Vice Foreign Minister Li Hui; Vice Foreign Minister He Yafei and Director of the President's Office Chen Shiju.