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WUXI, Jiangsu, March 28 (Xinhua) -- China's top political advisor has urged the country to press forward the government's stimulus plans and spare no efforts to achieve the 2009 economic and social development targets. All sides in China should combine their strength to boost growth, guarantee people's well being and maintain social stability amid the downturn, said Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), during a research tour to Wuxi city of eastern China's Jiangsu Province over the weekend. China aims at an annual economic growth of about 8 percent this year after the global financial crisis slowed the 2008 growth to a seven-year low of 9 percent. Jia Qinglin (C front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, investigates Hynix-Numonyx Semiconductor Ltd. in Wuxi, east China's Jiangsu Province, March 28, 2009. Jia Qinglin, together with Chinese Vice Premier Hui Liangyu, who is also a member of the Political Bureau of CPC Central Committee, made an investigation tour in Wuxi from March 27 through 28 Jia reaffirmed that the fundamentals of China's economy and its long-term upward direction has not changed, though 2009 will be "the most difficult year" for the country's economy since the beginning of the 21st century. He told local authorities and entrepreneurs to vigorously develop advanced manufacturing, modern service sector and high-tech industries. Measures should be taken to speed up industrial upgrading, explore international markets and introduce more overseas high-level talents, said Jia. He underscored the urgency of creating more jobs and improving social welfare. He also called for more government investment to rural areas to support agriculture and raise farmers' income. Jia Qinglin (2nd L, front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, investigates the Yangshan peach orchard in Wuxi, east China's Jiangsu Province, March 28, 2009
BEIJING, April 15 (Xinhua) -- China, the world's biggest manufacturer of electronics and information technology (IT) products, said Wednesday it will boost the industry's development to create more than 1.5 million new jobs in three years. The electronics and IT sector is expected to contribute at least 0.7 percentage points to China's annual gross domestic product (GDP) growth from 2009 to 2011, compared with 0.8 percentage points last year, according to a document approved by the State Council and published on the government Web site. That will provide new jobs for nearly 1 million college graduates, which are included in the total 1.5 million targeted vacancies, said the document. China's electronics and IT products sales surged at an average annual rate of 28 percent from 2001 to 2007, but slowed sharply to 12.5 percent last year amid the economic downturn. Sales in 2008 totaled 6.3 trillion yuan (920 billion U.S. dollars), with exports reaching 521.8 billion U.S. dollars, or 36.5 percent of the country's total export value. The government announced a support plan for the industry in February. The Wednesday document made clear details of the plan. The government will boost the industry by increasing state investment, credit support and export tax rebates, said the document. It also pledged to expand the domestic market for the industry and encourage innovation and restructuring. In the next three years, the country aims to achieve technological breakthroughs in strategic domains of the industry such as integrate circuits, new-type displays and software, according to the document. For instance, revenues from software and information service sectors will take up 15 percent of the industry's total, up from the current 12 percent. In addition, fresh growth will be cultivated in such fields as digital TVs and the new generation of mobile communications and Internet. The government said it will vigorously promote the overseas commercial use of its domestically-developed TD-SCDMA standard for the high-speed third-generation mobile communications.
BEIJING, March 23 (Xinhua) -- Chinese Premier Wen Jiabao on Monday met with foreign delegates at the 10th China Development Forum, calling on international efforts to combat the financial crisis. "Only when each nation makes effective stimulus measures together can the world economy step out of difficulty and realize resuscitation," Wen said to more than fifty foreign delegates at the three-day China Development Forum that started Saturday. Chinese Premier Wen Jiabao (R Front) meets with foreign delegates to the China Development Forum 2009 at the Great Hall of the People in Beijing, capital of China, March 23, 2009. China has launched plans to expand domestic consumption and promote economic growth. It will try its best to achieve the goal of eight-percent economic growth set for this year, according to Wen. With timely efforts, the economy in some areas and industries in China is now witnessing better signs, Wen said. "China can't achieve self-development without rest of the world," the Premier said, adding that China hopes to deliver confidence to the world and the world should have faith in the country. Sponsored by Development Research Center under the State Council, or China's cabinet, the China Development Forum was founded in 2000. It aims to support and promote policy consultation and academic research in China. High-level officials, entrepreneurs, scholars and leaders from international and non-governmental organizations attended this year's forum with the theme of China's Development and Reform in the Global Financial Turmoil.
BEIJING, March 10 (Xinhua) -- Premier Wen Jiabao said here Tuesday China must deepen reforms and further open up as the country tackles economic woes. The policy of reform and opening up is the key choice that determines the future of China in the contemporary era and the country's powerful weapon in fighting the global financial crisis, said Wen when joining a panel discussion with lawmakers from the Inner Mongolia Autonomous Region. "The more difficulties we face, the more firmly we should stick to reforms and opening up," Wen told the lawmakers who are attending the annual session of the National People's Congress (NPC), the top legislative body. Chinese Premier Wen Jiabao (front R) joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from north China's Inner Mongolia Autonomous Region, in Beijing, capital of China, March 10, 2009. The country should improve its development model with the spirit of reform and innovation and forge its advantage in international economic cooperation and competition by adhering to opening up, said Wen. "Only by deepening reforms can we continuously perfect the socialist system and fully mobilize the enthusiasm and creativity of the people ... only by opening up can we learn from the achievements of human society and better tap the domestic and foreign markets and resources," he said. Other senior leaders stressed more efforts for people's well-being and economic development Tuesday. Changchun (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from southwest China's Guangxi Zhuang Autonomous Region, in Beijing, capital of China, March 10, 2009.Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, urged for a better "soft environment" for China's development including a clean and efficient government, a democratic and just judicial system, fair play in market competition, a safe and stable society, a comfortable and convenient life, a healthy and upright morality, a sustainable environment, and a social and cultural environment conducive for the growth of young people. The government should strengthen the management of the Internet, radio and TV broadcasts, the publication market and campus environment to curb the spreading of "decadent, backward and vulgar" culture among the youth, Li said when joining a panel discussion with lawmakers from the Guangxi Zhuang Autonomous Region. A deputy to the Second Session of the 11th National People's Congress (NPC) from southwest China's Yunnan Province presents an ornament to Li Keqiang (front, L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, in Beijing, capital of China, March 10, 2009. Li Keqiang joined a panel discussion with deputies to the Second Session of the 11th NPC from southwest China's Yunnan Province on TuesdayVice Premier Li Keqiang told NPC deputies from the southwestern border province of Yunnan that economic development and people's welfare concerns social stability. He urged local governments to spare no efforts in creating jobs, and improving low-income housing, rural infrastructure and ecological protection. He Guoqiang (front, C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from south China's Hainan Province, in Beijing, capital of China, March 10, 2009When joining discussions with lawmakers from the southmost province of Hainan, He Guoqiang, secretary of the CPC Central Commission for Discipline Inspection, said the tropical island should give priority to planning and environmental protection in pursuing its goal of becoming a major international tourist destination. Zhou Yongkang (C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Qinghai Province, in Beijing, capital of China, March 10, 2009Zhou Yongkang, member of the Standing Committee of the CPC Central Committee Political Bureau, underscored ecological protection, ethnic unity and social harmony when discussing with NPC deputies from the northwestern Qinghai Province. Qinghai must be more aggressive in developing environmentally-friendly industries, increase the revenues of farmers and herdsmen and improve education in ethnic minority areas, said Zhou.
BEIJING, March 30 (Xinhua) -- Aluminum Corporation of China Ltd. (Chalco), reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008, due to product price fluctuations on the international market, the company's annual report revealed Monday. "The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement. The shock from the financial crisis, rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement. Chalco's business turnover reached 76.73 billion yuan, down 9.94 percent from last year, largely because of a decline in product prices, said a statement submitted to the Shanghai Stock Exchange. The price of alumina, a major type of aluminum product, which at one point reached 4,500 yuan per tonne in the domestic market in 2008, dropped to 1,900 yuan per tonne as demand shrank drastically because of the financial crisis, said the statement. Board chairman Luo Jianchuan said the company should actively cope with the problem, which would persist in 2009. Measures should be taken to cut cost, control investment, and maintain stable production. Though estimated to suffer losses in the first quarter this year, Chalco was confident it would "get over the difficulties and have a bright prospect," said Luo. Share prices of Chalco on Shanghai Stock Exchange plunged more than 4 percent to 10.46 yuan Monday morning. Aluminum Corporation of China (Chinalco), Chalco's parent company, had obtained support from four Chinese banks, including the Bank of China (BOC), to finance its bid for the world's third largest miner Rio Tinto. They have signed agreements to provide 21 billion U.S. dollars worth of syndicated loans to support the bid.