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BEIJING, April 15 (Xinhua) -- Chinese Premier Wen Jiabao called for establishing a fair, open, reasonable multilateral trade system of non-discrimination in the world on Tuesday. "We oppose protectionism in investment and trade," he said during a meeting with visiting British Finance Minister, Chancellor of the Exchequer Alistair Darling, who is attending the first China-UK economic and financial dialogue. Wen vowed to work with Britain and other countries to push the Doha round toward a comprehensive and balanced result. Chinese Premier Wen Jiabao (R) meets with Alistair Darling, British chancellor of the exchequer and special representative of British Prime Minister Gordon Brown, in Beijing, capital of China, April 15, 2008. Alistair Darling is in Beijing to attend the first China-Britain economic and financial dialogue. He said the international community was facing increasing opportunities and challenges as economic globalization developed. Both China and Britain were influential countries and should strengthen their dialogue based on mutual respect, equality, and reciprocity so as to expand common ground and overcome disputes, he added. Wen hoped China and Britain would take the economic and financial dialogue as a platform to promote mutual understanding and cooperation. Darling, visiting China as British Prime Minister Gordon Brown's special representative, said Britain viewed relations with China from a long-term perspective. He said Britain would like to promote dialogue with China on handling issues like economy, finance, and the environment. He said protectionism on trade was wrong, adding that Britain supported recognizing China's complete market economy status and opposed measures boycotting Chinese commodities. Darling arrived in Beijing on Monday afternoon. He met with Vice-Premier Wang Qishan early Tuesday.
NANNING, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao said here Sunday that China's financial institutions have generally increased their strength, profitability and risk-resisting ability, and the financial system as a whole is sound and safe in face of the international financial crisis. Wen made the remarks during an inspection tour to Guangxi Zhuang Autonomous Region in southwest China. Chinese Premier Wen Jiabao greets workers as he visits an oil refinery under construction in Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 4, 2008. He said that the world economic situation has had dramatic changes this year, the United States' subprime crisis has been deteriorating and is having an increasingly serious negative impact on the world's financial market and the world economy as a whole. Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development. As a result, the country's economy has maintained its momentum of smooth and rapid development, Wen said. Generally speaking, China's economic foundations have not changed and the economy is developing towards the preset macro control targets, said the Premier. "We have full confidence in China's economic development and financial stability," Wen said, stressing that the most important thing is to do our own business well, maintain the stability of the economy and the financial and capital markets. "It is the biggest contribution to the world when a big country with a population of 1.3 billion is able to maintain a lasting, smooth and fast economic development," he said. On Saturday and Sunday, Wen inspected villages and factories in the cities of Beihai, Qinzhou and Fangchenggang, and talked with local people of different nationalities and from all walks of life. He said that the development of Beibu Gulf should focus on technological innovation and environmental protection to build into an important zone for international and regional economic cooperation. In Gaosha Village of Qinzhou, Wen inspected rice paddy and visited farmers' homes. He said that the government will further reinforce its support for agriculture, continue to increase subsidies to farmers and raise the minimum grain purchasing prices to mobilize farmers to produce more grain.Chinese Premier Wen Jiabao examines the growth of paddy at Gaosha Village in the Qinnan District of Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 5, 2008. Wen made an inspection tour in Guangxi on Oct. 4-5.

BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses. The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported. The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses. CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales. To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan. PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."
BEIJING, April 25 -- The key mainland stock index yesterday soared 9.29 percent, the biggest one-day jump in six years, as investor sentiment was boosted by the government lowering of stamp duty. The slashing of trading tax from 0.3 percent to 0.1 percent, effective yesterday, was widely seen as another government effort to lift the stock market from the doldrums it has been in for six months. It followed the introduction of trading rules last Sunday to mitigate the impact of an expected flood of previously non-tradable shares after the lock-in period, which could greatly depress the market. Investors look over information at a stock exchange at a stock trading hall in Beijing, April 24, 2008. Equities trading tax cut, which is widely believed as policy boost by government to stem the recent slump, sends Chinese shares 9.29 percent higher on Thursday, the biggest gain since Oct 23, 2001 The Shanghai Composite Index yesterday surged 304.7 points to close at 3583.03. In yesterday's trading, gainers outnumbered losers by 853 to 1. The Shenzhen Component index jumped 9.59 percent, or 1130.61 points to close at 12914.76. Total market capitalization swelled 9.2 percent to 22.94 trillion yuan (.3 trillion). Turnover on the two bourses more than doubled from the day before to 261 billion yuan ( billion), the highest this year. Analysts said the reduction in the stamp duty and restrictions on the sale of unlocked shares showed that the market has fallen as low as the government would like to see. "The timing of the stamp duty cut suggests that the 3000 point may be a psychological bottom line for policymakers," said Peng Cheng, an economist at Citi China. "The government had been patient in waiting until the market correction was more than 50 percent before taking action," Peng added. Xu Wei, an analyst at Sinolink Securities, estimated that the cut in stamp duty saves investors up to 102 billion yuan (.7 billion) a year. In addition, "the relatively lower A-share valuation and the more stable performance of overseas stock markets have combined to help investors regain confidence," said Rui Kun, a fund manager at China international Fund Management Co Ltd. Security companies, especially those focusing on brokerage services, will benefit from the increasingly active trading because of the stamp tax cut, analysts said. Shanghai-based Haitong Securities, Sinolink Securities and Guoyuan Securities soared to the daily limit of 10 percent. However, some market insiders said that weak fundamentals and unfavorable China economic growth data are likely to outweigh the positive impact of the government move, and the rebound may not last long. "It is doubtful that such administrative measures can have a sustained effect on shares when earnings face significant challenges in the periods ahead," said Peng at Citi China. "The cumulative effect of tightening policies and rising input costs, along with shrinking demand, could cut profits more deeply than what is currently evident," Peng added.
UNITED NATIONS, Sept. 24 (Xinhua) -- China will stick to the path of peaceful development and continue to pursue the policies of reform and opening-up and an independent foreign policy of peace, Chinese Premier Wen Jiabao said here Wednesday. "The whole world wants to know in what direction China is heading" after the Beijing Olympic Games, Wen said in a speech delivered at the annual high-level debate of the United Nations General Assembly. "Let me tell you in unequivocal terms that China will remain committed to the path of peaceful development, unswervingly pursue reform and opening-up, and continue to adhere to an independent foreign policy of peace," he said. "This is in the fundamental interests of the Chinese people and the people of all other countries. It is also in keeping with the trend of the world." Chinese Premier Wen Jiabao delivers a speech at the annual high-level debate of the UN General Assembly in New York, the United States, Sept. 24, 2008. Wen said the success of the Beijing Olympic Games has greatly inspired the Chinese people and given them even more confidence and strength to achieve modernization of the country. However, the premier noted that China is still a "developing country, where productivity remains low and further development is constrained by the shortage of resources, and energy and environmental consequences." To achieve the goal of modernization and build a strong, prosperous, democratic, culturally advanced and harmonious country, China will continue its reform and opening-up policy, he said. "It is a choice of vital importance to the development of China today, and it is also a strategy that will shape China's future," Wen said. The Chinese premier said his country is ready to make joint efforts with other countries for world peace and will develop ties with them on the basis of equality and mutual benefit. "The world needs peace, for only with peace can there be development," he said. "The Chinese government is committed to an independent foreign policy of peace and stands ready to work with other countries to advance the noble cause of peace and progress of mankind," he added. China is ready to develop friendly relations with all countries "on the basis of equality and mutual benefit rather than on ideology or political system," he said. In handling international relations, China "does not seek to build alliances or become a leader and will never do so in the future," he said. The Chinese leader also called for the peaceful settlement of international disputes. "As a permanent member of the UN Security Council, China will continue to play an active and constructive role in promoting the peaceful settlement of international hotspot issues and regional conflicts," he said. Wen also called on the people of all countries to join hands in making the world a better place. Given the global nature of issues threatening the survival and development of humanity, no country can expect to stay away from the difficulties or handle the problems all by itself, he said. "The ongoing financial volatility, in particular, has affected many countries and its impact is likely to become more serious," he said, adding that "to tackle the challenge, we must all make concerted efforts." "So long as the people of all countries, especially their leaders, can do away with hostility, estrangement and prejudice, treat each other with sincerity and an open mind, and forge ahead hand in hand, mankind will overcome all difficulties and embrace a brighter and better future," he said. Wen said China, as a responsible and major developing country, is ready to work with other members of the international community to boost cooperation, share opportunities, meet challenges and contribute to the harmonious and sustainable development of the world.
来源:资阳报