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BEIJING, May 3 (Xinhua) -- Decoupling from the world, and the economic downturn much of it is experiencing, has proven impossible for China. But its resilience is receiving more recognition, with many leading financial institutions upgrading their 2009 growth forecasts since mid-April.     The adjustments for gross domestic product (GDP) growth, ranging from 0.5 to 2.3 percentage points, were based on signs of a turnaround in the first quarter. These indicators included stronger-than-expected real GDP growth, recovering property investment, a pick-up in power consumption and a surge in bank lending.     Merrill Lynch & Co. said it expected China's GDP to grow 7.2 percent in the second quarter and 8 percent this year, while Goldman Sachs raised its projection from 6 percent to 8.3 percent, the most optimistic forecast so far. Other forecasts include UBS, which raised its estimate by 0.5 point to 7 percent and CLSA Asia-Pacific, which lifted its outlook by 1.5 point to 7 percent.     China's policymakers can take heart from these forecasts. Every upward revision, big or small, given the global economic slowdown, might point to a better chance for the nation to achieve its 8-percent growth target. That level of growth is considered necessary to raise living standards while maintaining social stability.     But there's still the question of whether rapid growth is sustainable. Some analysts believe it isn't unless China can rebalance its economy and achieve higher efficiency, lower environmental costs and a more reasonable balance among investment, trade and consumption.     QUANTITY OR QUALITY?     In an interview with Xinhua, Stephen Roach, chairman of Morgan Stanley Asia, urged Chinese authorities to get more serious about stimulating private consumption because the global economy remains "pretty weak" and might only achieve a weak recovery.     "China has responded to the crisis the way it has always responded to global problems. That is, using proactive fiscal stimulus mainly in the infrastructure area to provide temporary support in the downturn until the global economy comes back. It worked in the 1997 Asian financial crisis and the 2000-2001 mild recession. But this is a different sort of problem," said Roach.     "Once the stimulus wears off and if there is no follow-through, the Chinese economy will weaken again. I don't think exports will recover in the weak global economy."     Domestic economists voice similar worries, saying that the speed of growth doesn't matter as much as the quality. Liu Shangxi, deputy dean of the Research Institute for Fiscal Science at the Ministry of Finance, said that the 6.1-percent year-on-year growth in the first quarter had been "fairly good" for China. But, he said, "sometimes, it's worth slowing down a bit to have the economy move more stably."     Wang Xiaoguang, an economist with the National Development and Reform Commission (NDRC), the chief planning agency. said that the government's annual growth target had become mostly symbolic.     For five years in a row, the target was 8 percent, and for five years in a row, the growth rate overshot the target. Wang said the government had faced a dilemma: a cut in the target might undermine public confidence while a rise might tempt local governments to over-invest to meet a high growth target.     The turnaround signs mostly reflected the impact of the 4-trillion-yuan (586 billion U.S. dollars) stimulus package. Meanwhile, retail sales still trailed investment in contributing to growth. Local economists warned that the economy remained unbalanced and vulnerable.     "Historical records show that adjustments in the Chinese economy would take two to three years, on average. Seven months have passed since the impact of the global financial crisis began to tell on the local economy.     "With a turnaround in sight, recovery might come earlier than expected but there are still risks of a further slowdown," Chen Dongqi, deputy chief of the Macro-Economic Research Institute under the NDRC, told a business development forum in Guangdong in late April.     BUYING CURE     It's widely accepted among economists that China should boost domestic private consumption by leading individuals to buy more and save less. The key question is: how?     "Two big programs" Roach advocates call for doubling the investment in social security immediately to 150 billion U.S. dollars and establishing a goal of raising consumption as a share of the economy from 36 percent to 50 percent within five years.     "What I think is missing here is the social safety net, social security pension and unemployment insurance. Because of the absence of the safety net, China has seen a high level of precautionary saving," he said.     Roach suggested that China develop a private pension system in particular so total employee compensation could rise in tandem with productivity. "Chinese companies need to partner with their workers and provide medical care [and] retirement investing for their workforce. Chinese workers' total pay package should have both wages and benefits," he said.     Liu agreed that the primary task in expanding consumption was to raise incomes. "Securing the legitimate interests of workers is particularly significant when the economy slumps. It would be like drinking poison to quench one's thirst if businesses sought to expand corporate earnings at the cost of workers' pay and benefits," he said.     Low labor costs and massive capacity have propped up China's prosperity over the past decades. But the proportion of wages to national income has been on a long decline since the 1990s.     Between 2002 and 2006 alone, economists estimate the figure dropped from 62.1 percent to 57.1 percent. Meanwhile, the contribution of consumption to GDP growth fell from 43.6 percent to 38.9 percent.     "A more meaningful index to judge the sustainability of China's economic growth would be the proportion of wages to national income," Liu said. "If this ratio did not rise, people would remain poor, and thus expanding consumption would be empty talk."     Chinese are far from wealthy. Only 4 percent of the workforce, and just 10 percent of the urban workforce, earn more than 2,000 yuan a month, the threshold for individual income tax.     As Chinese residents hold 2.43 trillion yuan in aggregate deposits, economists say one immediate way to boost consumption would be to stabilize spending on staple property -- including housing and automobiles -- and support tourism and cultural activities.     "People spend much of their money on housing and food. The government should encourage people to entertain themselves more," Wang said.     CHINA 'NO LOCOMOTIVE'     Although China might be the first major economy to recover from the downturn, economists disagree on when China will return to sustained high growth.     Morgan Stanley, for example, has forecast a firm recovery by mid-year, but said sustainable growth through 2010 would still hinge on what happens in other countries.     "China will be stronger. But will that strength be enough to allow others to follow in its footsteps? I don't think so," said Roach.     "Most of China's resilience comes from infrastructure building, roads, property consumption ... [this] won't have an impact on the United States and Europe. This resilience is only temporary while its stimulus is local rather than global."     Central bank governor Zhou Xiaochuan also warned in late April during World Bank-IMF meetings in Washington that the rebound in China's economy had to be consolidated. He said conditions in China would permit rapid economic development again, once macroeconomic policies such as the stimulus plan took effect.     Challenging internal and external conditions, he said, included continuously shrinking external demand, a relatively large decline in exports, overcapacity in some industries, falling government revenue and lingering employment pressure.     As China emerges from the shadow of the downturn, together with many of its Western partners, the world is closely watching the socialist market economy that it is still trying to develop.     It was interesting to see that there was much "the ideologically-constrained West" could learn from China, just as there was much China could learn from the West, said Roach.     "China has gone slow in many areas, especially in the opening up of its financial market. But China made the right choice," he said.     "Focusing on stability is a huge plus for China. But the nation must be vigilant in its financial policies, especially monetary and regulatory policies, and not allow asset bubbles and financial innovations it doesn't understand," said Roach.

BEIJING, June 27 (Xinhua) -- China always opposes trade protectionism and will not take protectionist actions against overseas companies or foreign goods, Minister of Commerce Chen Deming said here Friday.     He made the remarks when he met the Minister of Knowledge Economy of the Republic of Korea (ROK), Lee Youn Ho.     Chen said that media reports were incorrect when they equated China's latest circular to boost domestic demand and step up supervision on construction projects with protectionism.     Chen said in China's government procurement, the term "domestic products" also include products produced by legally established foreign-funded companies in China.     "China applied to join the World Trade Organization's agreement on government procurement a couple of years ago, which allowed member countries to bid on each other's government tenders." Chen said. "We hope China might join the agreement soon so as to further open up the government procurement market," he said.     "China would like to maintain stable development in economic and trade cooperation with the ROK," Chen said.     Lee said that China's trade policies were fair and transparent, and his country would like to work with China to oppose trade protectionism.

BEIJING, June 10 (Xinhua) -- China is ready to end a de facto suspension of initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges, after the securities regulator unveiled Wednesday the final guidelines for new IPOs.     The China Securities Regulatory Commission (CSRC) said the guidelines would take effect Thursday.     An unidentified CSRC spokesman said the commission will give approvals to applying firms any time after the guidelines become effective.     The commission announced draft guidelines on May 22 to solicit public opinions till June 5. The new guidelines aim to improve the price discovery function of the stock market, and help retail investors subscribe to newly issued stocks.     The draft said the quotation system for new issues should be revised so that issue prices faithfully reflect market demand, and lead underwriters should take steps to avoid "unreasonably" high prices.     Under the new rules, stock subscribers need to use either the online or off-line subscription system, but not both, to purchase new stocks. Institutional investors used to enjoy the privilege of subscribing through both systems, while retail investors could use only the off-line system.     Three revisions were made to the draft to follow public advices that the commission deemed reasonable.     The final version said a single investor is refined to use one account only to purchase new stocks, as some institutional investors have multiple accounts. The revision is aimed to help more smaller investors get access to new stocks.     In addition, the commission said it would consider to increase the number of tradable stocks in response to suggestions the lock-down of too many stocks would do no good to curb speculation.     However, the spokesperson said shares lock-down of large shareholders would remain in place, as it is aimed to prevent frequent changes in managerial staff that could jeopardize a firm's operation and create risks and the practice is followed on many overseas markets.     The commission also added the content about improving the "clawback" and the offering suspension mechanisms upon requests of the public. The "clawback" mechanism is used in the event that the deal is subscribed by 100 times or more.     The CSRC effectively suspended all new stock issues last September, as it halted approvals. Since then the stock market has plunged more than 50 percent from its peak 6124.04 in October 2007,compared to Wednesday's closing.     The CSRC spokesman anticipated that the first few new IPOs may not be satisfactory (in boosting the market), but he believed that the goals of the new guidelines could be achieved over time, which would play a positive role in boosting the market in the long run.     A total of 32 firms are on the waiting list to launch their IPOs on the A-share market, expecting to issue a combined more than 14 billion shares.     China State Construction Engineering Corp. is expected to issue12 billion shares.

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VENICE, May 25 (Xinhua) -- China's top lawmaker Wu Bangguo left here for home on Sunday afternoon after concluding his three-nation Europe tour, which helped push his country's relations and cooperation with Europe.     Wu is the first chairman of the Standing Committee of the National People's Congress (NPC), top legislature of China, who has paid an official goodwill visit to Austria in 15 years and to Italy in 12 years. The Europe tour also took Wu to Russia. During the 11-day trip, Wu met with the heads of state and governments of the three European nations and held talks with their parliament leaders. Wu Bangguo (L front), chairman of the Standing Committee of the National People's Congress (NPC) of China, is greeted upon his arrival in Moscow, capital of Russia, May 13, 2009.     ENHANCING PARLIAMENTARY EXCHANGES     Wu's visit greatly advanced friendly exchanges and cooperation between China's legislature NPC and the parliaments of the three nations.     During the visit to Russia, Wu and Chairman of the Russian State Duma Boris Gryzlov jointly attended the third session of the cooperation committee between the NPC and the lower chamber of Russian parliament, or the State Duma. Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.Wu said in a meeting with Gryzlov that development of the mechanism of regular exchanges between the parliaments of China and Russia has proved the unique advantage of inter-parliamentary exchanges. He said such exchanges has not only helped enhance friendship and deepen political trust between the two peoples, but also added new vigor to bilateral links by advancing trade and economic cooperation.     "Today's situation of vigorous growth in China-Russia relations should be contributed to tireless pursuit of good neighborly friendship by the two peoples and the joint effort of their parliaments," Wu said.     During the visit to Italy, Wu and Italian Senate President Renato Schifani signed here an agreement on establishing a regular exchange mechanism between the NPC and the Italian Senate. The agreement is the first of its kind ever reached between the parliaments of the two countries. Wu Bangguo (L, front), chairman of the Standing Committee of the National People's Congress of China, shakes hands with Renato Schifani (R, front), the Senate speaker of Italy, after signing an agreement on bilateral exchange mechanism, in Rome, capital of Italy, May 20, 2009In a speech to international media after signing the agreement, Wu said the agreement will help establish a mechanism of regular exchanges between the parliaments of the two countries and add new vigor to the all-round strategic partnership between China and Italy. He noted that the two parliaments have carried out good cooperation, which consists an important part of bilateral relations.     Schifani told reporters that he is glad to sign the strategic agreement between the two parliaments. He said Italy and China enjoy a sound relationship.     During the visit to Austria, Wu met with Barbara Prammer, president of the Austrian National Council, and Harald Reisenberger, president of the Federal Council of Austria. Wu Bangguo (L front), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Austrian National Council President Barbara Prammer (R front) in Vienna, capital of Austria, May 15, 2009Wu said during the meetings that parliamentary exchanges consist an important part of China-Austria relations. He said the close links between NPC and Austrian parliament has become a strong driving force for friendly relations between the countries. He hopes that the two sides should carry on this tradition of sound cooperation by pushing forward communications between political parties, local governments and peoples of the two countries. The two sides should promote practical cooperation in all fields so as to add new impetus to bilateral relations.     Wu welcomes more and more Austrian parliamentarians, especially young parliamentarians to visit China.     Reisenberger said parliament members from all parts of Austria wish to strengthen cooperation with the NPC in a bid to enhance people-to-people friendship, promote local communications and expand trade and economic cooperation.     ADVANCING BILATERAL LINKS     Wu's visit helped advanced relations between China and the three European nations.     During the visit to Russia, Wu met with Russian President Dmitri Medvedev. Wu said the strategic partnership of cooperation between China and Russia is currently showing a momentum all-round and rapid growth, as high-level contact remains frequent. Russian President Dmitry Medvedev (R) shakes hands with Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC) of China, in Moscow, capital of Russia, May 13, 2009Wu said the high level of China-Russia partnership is fully reflected in such areas as frequent contact between top leaders of the two countries, the staging of "Russian Language Year" in China, the signing of an oil cooperation agreement between the two governments and the exchanges between the NPC and Russian parliament.     Medvedev said Wu's visit to Russia reflects the momentum of fast growth in bilateral links. Under the current environment of international financial crisis, coordination between the parliament of the two countries will be conducive to advancing bilateral cooperation.     In Austria, Wu met with Austrian President Heinz Fischer and Vice Chancellor and Federal Minister of Finance Josef Proll. Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Austrian President Heinz Fischer in Vienna on May 15, 2009. Wu Bangguo arrived in Vienna on May 15 for a four-day official goodwill visit to Austria. During the meetings, Wu emphasized that China places great importance on developing relations with Austria. He said China is ready to expand friendly contact between the governments, parliaments and political parties of the two countries on a basis of mutual respect, equality and mutual benefits.     Wu said the two countries should enhance mutual understanding and trust so as to deepen cooperation in various fields and carry out closer coordination and communication on international affairs.     Fischer appreciates the responsible stance and measure that China has taken in addressing international financial crisis. He said the financial crisis has caused great impact on every country in the world and required joint effort of all countries in addressing it.     On his tour to Italy, Wu met with Italian President Giorgio Napolitano and Premier Silvio Berlusconi. Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress of China, talks with Italian President Giorgio Napolitano in Rome, May 21, 2009. During the meetings, Wu said the economy of China and Italy are highly complementary to each other. He said the two sides enjoy a sound foundation of cooperation and great potential of expanding trade.     Wu put forward three suggestions on expanding trade and economic cooperation between the two countries. Firstly, he said the two countries should strengthen cooperation between small- and medium-sized companies as a way to expand trade and mutual investment. He said the governments of the two countries should give a full play to their joint committees in a bid to support and facilitate cooperation between the companies. Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress of China, shakes hands with Italian Premier Silvio Berlusconi in Rome, May 20, 2009.Secondly, Wu said the two countries should explore new areas of cooperation. Noting that China is working on economic restructuring and upgrading industries, Wu said the two sides share broad prospect in the development and utilization of new energy.     Thirdly, Wu said the two sides should cooperate closely on staging the World Expo. Shanghai and Milan will respectively host the World Expo in 2010 and 2015. Wu expressed the belief that cooperation on this issue will become a new bright spot of China-Italy cooperation.     PUSHING FORWARD PRACTICAL COOPERATION     Wu's visit also helped strengthen practical cooperation in all fields between China and the three nations.     During his visit to Italy, Wu met with Chinese entrepreneurs doing business in Europe. Wu said overseas Chinese companies should explore new ways to help China restructure its economy and upgrade its industries.     Wu, as China's top legislator, made the remarks as he met here with Chinese entrepreneurs who invest and do business in Italy and Europe.     Wu encourages the Chinese companies to expand their overseas market and explore new areas and channels of cooperation in other countries so as to make new contributions to China's cooperation with Italy and Europe.     Against the background of international financial crisis, Chinese companies should enhance research and development capabilities and establish overseas marketing network through cooperation with foreign companies, Wu said.     He hopes that Chinese companies should seized the opportunity of reshuffle of global industry to upgrade management and technology. He said Chinese companies should attach importance to fostering management talents with international experience.     During the visit, Wu demonstrated great interest in upgrading high-tech cooperation between China and the European countries. He visited Vienna High-tech Zone on Saturday, inspecting an energy saving office building and a wind tunnel, which is believed to be the world's largest for testing locomotives and automobiles. The wind tunnel has undertaken tests and data gathering for locomotives used in city subway system in Shanghai.     Wu also visited in Rome a research and development center under the Italian National Agency for New Technology, Energy and the Environment (ENEA) He inspected the high-temperature sole heat system for generating electricity at the R&D center.     Wu said it is a global trend in the energy sector to develop new energy and renewable energy in a broad prospect of growth. He said the Chinese government places great importance on and actively promotes development and application of all kinds of renewable energy, including solar energy. He expressed the wish that research institutes and companies of the two countries should increase cooperation and investment in this respect so as to jointly exploit the renewable energy market.     During the visit, both Wu and leaders of the three nations agreed that under the circumstances of international financial crisis, strengthening practical cooperation will not only help the countries to overcome current difficulties, but also help promote the recovery of world economy. 

BEIJING, June 27 (Xinhua) -- China's top legislature concluded its six-day, bimonthly session Saturday, after approving several laws, including one on rural land disputes aiming to ensure rural stability,     President Hu Jintao signed decrees to publish the law on the mediation and arbitration of rural land contract disputes, the revised Law on Statistics and a decision to abolish eight outdated or redundant laws.     The concluding meeting was presided over by Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC), or top legislature. The closing session of the ninth session of the Standing Committee of the 11th National People's Congress is held in Beijing, capital of China, on June 27, 2009. The ninth session of the Standing Committee of the 11th National People's Congress, the top legislature, closed its latest six-day, bi-monthly session Saturday.The ninth session of the 11th NPC Standing Committee also adopted a revision to the government's 2008 final accounts, an audit report and a decision to lease land in Guangdong to Macao as a new site for the University of Macao.     Wu said the law on the mediation and arbitration of rural land contract disputes is based on the actual condition of rural areas, giving consideration to the convenience of the broad masses of people, bring into full play the role of mediation and arbitration and specifying measures and procedures that provide a legal basis for settling rural land disputes and ensuring farmers' rights.     "It's also significant in strengthening rural land operation systems, improving land contract relations and promoting rural development and social stability," Wu said.     The revision to the Law on Statistics mainly focused on falsification in statistical work, Wu said, adding the revision improved the law by preventing official interference in statistical work, reinforcing responsibility and enhancing punishment so as to ensure the authenticity and credibility of data.     "During the deliberation, members of the NPC Standing Committee agreed with the judgement that this year has been the toughest for the country's economic development since the new century," he said. Wu Bangguo (C), chairman of the Standing Committee of China's National People's Congress (NPC), addresses the closing session of the ninth session of the Standing Committee of the 11th National People's Congress, in Beijing, capital of China, on June 27, 2009.    The government's fiscal revenue dropped in the first five months year on year, according to a report submitted to the session.     Wu called on the State Council (cabinet) and relevant departments to take measures such as enhancing taxation while implementing structural tax reduction policies, improving the efficiency of fund use, practicing frugality, opposing extravagance and actively deepening fiscal system reform.     He asked the departments concerned to rectify problems in implementing the budget, as found by audit authorities, and report to the top legislature the progress before the year-end.     Officials involved in such problems would be punished according to law.     Wu said lawmakers had been deeply concerned about the reconstruction of quake-hit areas in Sichuan Province after the region was struck by the May 12, 2008 quake, and heard a report about reconstruction at this legislative meeting.     Lawmakers said the reconstruction work was "an important project concerning people's life and development" and efforts should be made to resolve housing problems for the poor as well rebuild public facilities such as schools, hospitals, transportation and water-conservation projects.          SOCIALIST LEGAL SYSTEM     The top legislature adopted Saturday the nullification of eight laws, including one covering police stations that dates back to 1954, as part of an effort to eliminate redundant, contradictory and obsolete laws.     Wu said 2009-2010 was a key period in forming a socialist legal system with Chinese characteristics and the legislative work would be arduous.     He urged improving the legislative work so as to ensure the goal of establishing a socialist legal system with Chinese characteristics by 2010, set by the Communist Party of China Central Committee in 1997.     The socialist legal system basically took shape in 2007 and this 11th NPC Standing Committee set the legislative priority as improving legislative quality by enacting backbone laws soon as well as clearing obsolete ones, he said.     Wu said overhauling laws was an important measure of improving legislation so as to ensure a scientific, integrated and harmonious legal system.     As of June 26, 2008, China had 229 laws, with categories including the Constitution, civil and commercial law, administrative and economic law and criminal law, among others.     He said the next step was to urge relevant departments to draft matching regulations.     "When drafting laws in the future, efforts should be made to enact relevant regulations as well so that the regulations could take effect simultaneously with the law, or not too late behind the law, in order to ensure an effective implementation of the law," Wu said.     He stressed that legislation in the pipeline should be completed in time. When revising or enacting laws, revision should be made collectively if disagreement was found in different laws or regulations, in order to ensure the legal system's integrity.     The top legislature also adopted a decision to remove Xia Zhengui, a former Party secretary of Linfen in northern Shanxi, and Ji Chuntang, a former mayor of northern Shijiazhuang, from the post as NPC deputies.     Ji was expelled for his role in last year's adulterated milk scandal. Xia was stripped of the post for a mine accident that caused 277 deaths last year.     According to the Credentials Committee of the NPC Standing Committee, the total number of deputies to the 11th NPC now stands at 2,982.     The meeting also appointed four senior officials to the Supreme People's Court and the Supreme People's Procuratorate.

MOSCOW, June 4 (Xinhua) -- Russia and China have agreed to establish a cross-border nature reserve to protect Siberian tigers and other endangered animals, local media reported on Thursday.     An agreement on the creation of the nature reserve was signed by Russian Minister of Natural Resources Yury Trutnev and his Chinese counterpart Zhou Shengxian, news reports said, citing the Russian Ministry of Natural Resources.     The Siberian tiger, also known as the Amur tiger, is the largest subspecies of the family with a length of more that three meters and a weight of up to 300 kg. There are only about 500 of them left in the wild.

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BEIJING, June 17 (Xinhua) -- Chinese Premier Wen Jiabao said Wednesday China's economy is at a critical moment as it begins to recover "steadily".     Wen told an executive meeting of the State Council, China's Cabinet, that economic performance had started to show positive changes, favorable factors were increasing, the overall situation had stabilized and was moving upwards.     He said the government should continue a pro-active fiscal policy and moderately relaxed monetary policy.     Investment growth kept accelerating, consumption maintained a rapid and steady increase, and domestic demand played a stronger role in boosting economic growth, said Wen.     Agricultural and industrial production grew, and regional coordinated development was making progress, said Wen.     The financial market was stable, and investor confidence stronger. Urban employment kept rising, and reconstruction of areas affected by last year's May 12 earthquake was speeding up, said Wen.     Government measures to fight the global economic crisis proved correct and effective, and should continue to be implemented and improved according to the changing situation, he said.     But it should also be noted that the foundation for economic recovery was not stable and many uncertainties remained, said Wen, citing sluggish exports, the fiscal deficit and trade protectionism.     Wen called for clear-headed judgment and readiness for difficulties and complexities that might occur in the long term.     He urged local governments to further promote economic restructuring, guarantee the stable development of agriculture, encourage technological innovation and work to enhance energy conservation and environmental protection.     Comprehensive efforts should be made to boost domestic demand to power economic growth, Wen said, singling out such measures as subsidies for home appliances and automobiles in rural areas.     Housing consumption should be properly guided and the stable, healthy development of the property market should be ensured, said Wen, adding that tourism, entertainment and cultural consumption should be developed.     Central government-invested programs should be carefully carried out, while private investment should be expanded, said Wen.     He also highlighted the importance of the coordinated development of urban and rural areas, called for the further deepening of reform and opening up and the building of social insurance systems.

BEIJING, April 28 (Xinhua) -- China and Peru on Tuesday signed a free trade agreement (FTA) in Beijing, capping over-a-year-long negotiations and legal processes. Chinese Vice President Xi Jinping and his Peruvian counterpart Luis Giampietri Rojas witnessed the signing ceremony in Beijing, with both hailing the deal "a new landmark" in bilateral ties.     "China-Peru agreement is the first FTA package China has signed with a Latin American country," said the Chinese Commerce Ministry. Chinese Vice President Xi Jinping (R) meets with Peruvian First Vice President Luis Giampietri Rojas at the Great Hall of the People in Beijing, capital of China, April 28, 2009.    After 14 months of negotiations, China and Peru concluded their free trade talks in November 2008, followed by some legal processes in both countries.     "With the global financial crisis looming, the China-Peru deals ends a positive message of deepening cooperation and tiding over difficulties," said Zhu Hong, deputy director general of the International Department of the Chinese Commerce Ministry.     The pact is China's second in Latin America, following an accord with Chile in 2005.     "The China-Peru FTA is a comprehensive deal, covering goods, service, investment and other fields while the accord with Chile deals with goods only," Zhu said. A complementary deal on service trade was signed with Chile in 2008.     "The pact features a high degree of openness," Zhu said, citing phased, free tariffs on more than 90 percent of goods ranging from China's electronic products and machinery to Peru's fish powder and minerals.     Under the deal, both pledged to further open their service sectors and offer national treatment to investors from the other country.     China and Peru also reached agreement on intellectual property, trade rescue, customs procedures and other fields.     The official said the pact would play an important role in helping both nations deal with global financial foes and boosting their own economies.     Trade between the two countries reached 7.5 billion U.S. dollars in 2008, according to Chinese customs authority.     The FTA deal is likely to come into force in early 2010, Zhu said.     Since the beginning of the decade, Beijing has vigorously pursued free trade agreements. So far, China has signed FTA deals with the Association of Southeast Asian Nations (ASEAN), Chile, Pakistan, New Zealand, Singapore and Peru.     China is also in free trade talks with Australia, the Gulf Cooperation Council, Iceland, Norway and Costa Rica, among others.

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BRATISLAVA, June 18 (Xinhua) -- Chinese President Hu Jintao and his Slovakian counterpart Ivan Gasparovic held talks here on Thursday and they agreed to take the 60th anniversary of diplomatic ties as an opportunity to consolidate their traditional friendship and enrich the contents of cooperation.     Speaking highly of the longstanding friendship between the two countries, Hu noted in particular the substantial development of bilateral relations since the Central European country gained independence 16 years ago.     Expressing satisfaction at the state of bilateral ties, Hu said there are no outstanding issues left over by history or conflict of interests between China and Slovakia, Hu said. It is the shared goal of the two countries to expand consensus and deepen cooperation, he added. Visiting Chinese President Hu Jintao (L) meets with Slovakian President Ivan Gasparovic for talks in Bratislava, capital of Slovakia June 18, 2009"This is in the fundamental interests of the two countries and the two peoples," Hu said. He made a four-point proposal for the further development of bilateral ties.     Firstly, the traditional friendship should be consolidated and bilateral mutual political trust be enhanced, Hu said.     The frequent contacts between leaders of the two countries is important to the development of bilateral ties and the Chinese side welcomes President Gasparovic to visit China again. The two sides should also promote exchanges and cooperation between the two governments, legislative bodies and political parties so as to consolidate the political foundation of bilateral relations. Visiting Chinese President Hu Jintao (R, front), accompanied by Slovakian President Ivan Gasparovic, inspect the honor guard during a welcoming ceremony in Bratislava, capital of Slovakia June 18, 2009.Second, both side should enhance economic and trade cooperation and join efforts to cope with the ongoing financial crisis, Hu said, adding that this is the focus of bilateral cooperation at present.     They should expand trade links and achieve a balanced growth in two-way trade, increase mutual investments, expand areas of cooperation and oppose protectionism.     Different forms of cooperation should be encouraged in such fields as infrastructural construction, new energy, agriculture and environmental protection. Chinese President Hu Jintao (L) and Slovakian President Ivan Gasparovic meet with journalists after their talks in Bratislava, capital of Slovakia June 18, 2009In responding to the impact of the international financial crisis, the two countries should also strengthen communication, share experiences and push for the reform of international financial systems.     Third, cultural exchanges and cooperation should be expanded with more substance and the two sides should learn from each other for common development, he said.     Fourth, there should be strengthened coordination and consultation between the two countries in international and regional organizations such as the United Nations, as well as closer multilateral cooperation in efforts to make joint contributions to world peace and stability, he said.     Agreeing entirely with Hu's views, Gasparovic said the Chinese president's visit is of great significance to promoting bilateral cooperation in various fields and friendly relations between the two countries. Chinese President Hu Jintao and Slovakian President Ivan Gasparovic meet with journalists after their talks in Bratislava, capital of Slovakia June 18, 2009Slovakia will continue to adhere to the one-China policy, he said.     Only through concered efforts of all countries in the world could the crisis be tackled in an effective way.     The Slovakian president said his country welcomes more investments from China and is ready to promote reciprocal cooperation in the fields of science and technology, energy, new energy, infrastructure, machinery, tourism and agriculture.     Hu, currently on a three-nation tour, arrived here earlier in the day after concluding a state visit to Russia. He will also visit Croatia.     Earlier this week, the Chinese president attended the annual summit of the Shanghai Cooperation Organization and a meeting of the BRIC countries -- Brazil, Russia, India and China, in the Russian city of Yekaterinburg.