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BEIJING, July 18 (Xinhua) -- East Star Airlines Co., Ltd. said Saturday here that its current combined debt surpassed 752 million yuan (110.1 million U.S. dollars).     Zhao Changbing, spokesperson of the company, said the announcement was made to counter rumors about the status quo of the company's assets and debt     Zhao said total assets of the company stood at 1.01 billion yuan.     Established in 2005 in central Hubei Province, East Star Airlines operated more than 20 routes. Its operation was suspended by the industry regulator as of March 15 this year, due to financial difficulties of the carrier.

WASHINGTON, April 22 (Xinhua) -- The International Monetary Fund on Wednesday warned that the global economy was in "a severe recession" and the world output is projected to decline 1.3 percent this year, the deepest global recession since the Great Depression in 1930s.     "The global economy is in a severe recession inflicted by a massive financial crisis and acute loss of confidence," said the IMF in its latest World Economic Outlook report. "All corners of the globe are being affected." 　　EPICENTER OF CRISIS     According to the report, the world economy is projected to decline by 1.3 percent in 2009 as a whole and to recover only gradually in 2010, growing by 1.9 percent.     "Achieving this turnaround will depend on stepping up efforts to heal the financial sector, while continuing to support demand with monetary and fiscal easing," said the IMF.     The advanced economies experienced an unprecedented 7.5 percent decline in real GDP during the fourth quarter of 2008, and output is estimated to have continued to fall almost as fast during the first quarter of 2009, according to the report.     Although the U.S. economy may have suffered most from intensified financial strains and the continued fall in the housing sector, western Europe and advanced Asia have been hit hard by the collapse in global trade, as well as by rising financial problems of their own and housing corrections in some national markets.     Emerging economies are suffering badly and contracted 4 percent in the fourth quarter in the aggregate.     The United States, at the center of an intensifying global financial storm, will contract by 2.8 percent this year, said the IMF, adding that "the biggest financial crisis since the Great Depression has pushed the United States into a severe recession."     Meanwhile, the euro zone economy will shrink by 4.2 percent this year and fall a further 0.4 percent in 2010, the IMF said, criticizing the bloc for weak public policy responses and coordination.     In Japan, the IMF expects 2009 output to fall 6.2 percent, far worse than its January forecast for a 2.6 percent decline.     China is expected to slow to about 6.5 percent this year, half the 13 percent growth rate recorded pre-crisis in 2007 but still a strong performance given the global context, according to the IMF.     UNCERTAIN OUTLOOK     The IMF warned the financial crisis remains acute. "The financial market stabilization will take longer than previously envisaged, even with strong efforts by policymakers," it said.     Thus, financial strains in the mature markets are projected to remain heavy until well into 2010, and overall credit to the private sector in the advanced economies is expected to decline in both 2009 and 2010.     Meanwhile, emerging and developing economies are expected to face greatly curtailed access to external financing in both years.     In a semi-annual report Global Financial Stability Report (GFSR), which was released on Monday, the IMF said write-down on U.S.-originated assets to be suffered by all holders will be 2.7 trillion dollars, "largely as a result of the worsening base-case scenario for economic growth."     Total expected write-downs on global exposures are estimated at about 4 trillion dollars, of which two-thirds will fall on banks and the remainder on insurance companies, pension funds, hedge funds, and other intermediaries.     In the latest World Economic Outlook report, the IMF warned that the current outlook is exceptionally uncertain, with risks weighed to the downside.     The crisis has hurt international trade, with volume expected to plunge 11 percent this year before eking out 0.6 percent growth in 2010.     Consumer prices in developed countries were under pressure and would fall 0.2 percent in 2009.     "Even once the crisis is over, there will be a difficult transition period, with output growth appreciably below rates seen in the recent past," said the IMF.     BOLD POLICY     The IMF called for its members to take new bold policy stimulus to jump-start their economies.     "This difficult and uncertain outlook argues for forceful action on both the financial and macroeconomic policy fronts," said the IMF.     Past episodes of financial crisis have shown that delays in tackling the underlying problem mean an even more protracted economic downturn and even greater costs, both in terms of taxpayer money and economic activity.     "Policymakers must be mindful of the cross-border ramifications of policy choices," said the IMF. "Initiatives that support trade and financial partners will help support global demand, with shared benefits."     In advanced economies, scope for easing monetary policy further should be used aggressively to counter deflation risks.     Although policy rates are already near the zero floor in many countries, whatever policy room remains should be used quickly, according to the IMF.     Emerging economies also need to ease monetary conditions to respond to the deteriorating outlook.     However, in many of those economies, the task of central banks is further complicated by the need to sustain external stability in the face of highly fragile financing flows, the IMF warned.     The 185-member organization also warned against the rising protectionism.     "Greater international cooperation is needed to avoid exacerbating cross-border strains," said the IMF. "Coordination and collaboration is particularly important with respect to financial policies to avoid adverse international spillovers from national actions."     "A slide toward trade and financial protectionism would be hugely damaging to all, a clear warning from the experience of 1930s beggar-thy-neighbor policies," it warned.

BEIJING, May 16 (Xinhua) -- One confirmed case of A/H1N1 flu was reported in Beijing, the Ministry of Health said on Saturday evening.     It is the third confirmed case of A/H1N1 flu on the Chinese mainland, according to the ministry. Fang Laiying (C), dirctor of Beijing Municipal Health Bureau, Deng Ying (R), dirctor of Beijing Municipal Center for Disease Control and Prevention, and Mao Yu (L), president of Beijing Ditan Hospital, hold a press conference in Beijing, capital of China, May 16, 2009. One confirmed case of A/H1N1 flu was reported in Beijing, China's Ministry of Health said on Saturday eveningThe case involved a 18-year-old female who studies in a university in the New York State of the United States, which was the one reported previously as suspected case by the Emergency Management Office of Beijing Municipal Government Saturday evening.     She was currently in a stable condition, with a normal body temperature, the ministry said.     The female, a Beijing native, arrived in Beijing on May 11 on board the U.S. Continental Airline C089 and reached home accompanied by her mother, said the ministry. A staff member casts away the exposure suit after disinfection work at Beijing Ditan Hospital, Beijing, China, May 17, 2009. One confirmed case of A/H1N1 flu was reported in Beijing, China's Ministry of Health said on Saturday eveningShe did not go out or meet friends after arriving home, according to the ministry's investigation.     She felt unwell and physically weak in the noon on May 12 and took her temperature herself.     She went to the fever outpatient section of the Peking University First Hospital in the evening on May 14 and said she developed symptoms of cough, a few sputum, headache, sore throat, chest distress and sore muscle, with a body temperature of 37.7 degrees Celsius. A staff member guards outside the inpatient department at Beijing Ditan Hospital, Beijing, China, May 17, 2009. One confirmed case of A/H1N1 flu was reported in Beijing, China's Ministry of Health said on Saturday eveningShe was initially diagnosed as fever, needing further check and "suspected of A/H1N1 flu," the ministry said.     The patient was transferred to the Beijing Ditan Hospital early in the morning on May 15.     The Beijing Center for Disease Control and Prevention (CDC) tested a specimen taken via a swab from her throat, which showed she was "suspected positive" for A/H1N1 and positive for PIV-H3.     The China CDC and the Chinese Academy of Medical Sciences tested the specimen again the next day and confirmed she had contracted the A/H1N1 virus.     The ministry said experts made the decision based on the patient's symptoms, epidemiological investigation results and laboratory tests.     All the people who had close contact with her had been tracked down and put under medical observation, with no one feeling unwell, it said.     According to Beijing Municipal Health Bureau, Liu had only contacted with two persons, one is her mother and the other is the taxi driver who carried her to Peking University First Hospital.     Neither of the two had shown flu symptoms, said Deng Ying, director of Beijing CDC.     Expressing his appreciation of the 18-year-old Liu for keeping a clear diary about her journey in Beijing, Fang Laiying, director of Beijing Municipal Health Bureau, said, "she even kept the receipt from the taxi driver, otherwise it would be difficult for us to find out the driver,"     "The quarantine hospital had arranged three doctors and three nurses for Liu and took strict medical observation on her," said Mao Yu, president of Beijing Ditan Hospital.     "Liu is in stable condition as her temperature is getting normal and her appetite getting better," Mao said.     The health ministry has reported the case to the World Health Organization, Hong Kong, Macao and Taiwan and relevant countries.     The first two cases in mainland China are Chinese nationals, Bao and Lu, who had been students in the United States and Canada, and were traveling back to their homes in the past days of the month, contracted the flu strain and developed symptoms shortly after they set foot in China

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BEIJING, July 7 (Xinhua) -- Chinese banks have been active in transacting yuan cross-border settlement after the first deal was made Monday.     The Industrial and Commercial Bank of China (ICBC) said Tuesday it had dealt with yuan cross-border settlement totaling 17 million yuan (2.49 million U.S. dollars) in two days.     Many banks in Guangdong Province were active in dealing with yuan cross-border settlement. The Bank of China Guangdong branch transacted yuan cross-border settlement totaling 7.96 million yuan (1.17 million U.S. dollars) Tuesday.     "Guangdong Province has a large economic scale and is highly dependent on foreign trade. Yuan cross-border settlement could help enterprises avert exchange rate risks and reduce costs," said Cao Licong, deputy governor of the BOC Guangdong branch.     "The service is favored by enterprises and will be promising in the future," said Hu Ye, deputy governor of the ICBC Guangdong branch.     China launched its first yuan cross-border settlement Monday.     China's State Council, or Cabinet, announced in April a pilot program to allow exporters and importers in Shanghai, and southern Guangzhou, Shenzhen, Zhuhai and Dongguan cities to settle cross-border trade deals in Renminbi (RMB), or yuan.     China last week issued detailed regulations for the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using yuan to settle trade with Hong Kong and Macao and regional trade partners.

BEIJING, April 28 (Xinhua) -- China Tuesday called for new initiatives to boost the China-France comprehensive strategic partnership.     The call was made during a meeting between Chinese President Hu Jintao and former French President Jacques Chirac, who is in Beijing at the invitation of the Chinese People's Institute of Foreign Affairs. Chinese President Hu Jintao (R) meets with Former French President Jacques Chirac at the Diaoyutai State Guesthouse in Beijing, capital of China, April 28, 2009. Hu praised Chirac, on his ninth visit to China, as an old friend of the Chinese people for his contribution to the China-France friendship.     "The Chinese people will never forget this," Hu was quote as saying by a press release from Chinese Foreign Ministry.     Hu said the consolidation of ties, especially in the context of the international financial crisis, would help tackle the crisis and be conducive to promoting long-term peace, stability and prosperity.     "I hope the two countries and two peoples can make joint efforts to advance the development of bilateral strategic partnership," Hu said.     Chirac highlighted the achievements of China in its development, calling the development "a positive factor" in world prosperity, according to the press release.     China ranked as a world power through its own efforts, Chirac said, and its peaceful development was helpful to maintaining stability and prosperity.

ZHENGZHOU, June 20 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged economic restructuring to tap the growth potential as the nation copes with the impact of the global downturn.     Li made the call during a four-day tour ending Saturday in central China's Henan Province.     He said that with the concerted efforts nationwide, China's economy was turning for the better. He nevertheless warned of difficulties ahead citing the complicated world economy and called for confidence and more coping efforts.     Visiting local companies, Li urged the remolding and upgrading of traditional industries and the development of new sectors including new energy, environmental protection, new and high-tech and modern services.     Li's trip also highlighted the importance of agriculture and encouraged renovation and the development of modern agriculture. Chinese Vice Premier Li Keqiang (R), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks to local residents of Mazhuang village, Qiaobei town, Yuanyang county, central China's Henan Province, June 19, 2009. Li Keqiang made a four-day tour in Henan Province that ended Saturday.

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ROME, July 2 (Xinhua) -- Chinese President Hu Jintao's forthcoming visit to Italy ahead of the G8 summit paves the way for stronger bilateral ties, an Italian expert told Xinhua in an interview.     Luca La Bella, a China analyst with Rome's International Studies Center, said that in the past decades, political, economic and cultural relations between Italy and China have improved. "Chinese President Hu Jintao's visit to Italy will reinforce this strategic collaboration," he said.     Hu will attend a meeting between the leaders of the Group of Eight (G8) and emerging economies from July 8 to 10 in L'Aquila.     Before the G8 summit, he will pay a state visit to Italy from July 5 to 8 at the invitation of Italian President Giorgio Napolitano. After the G8 meeting, the Chinese leader will visit Portugal from July 10 to 11.     China-Italy ties have maintained a sound momentum of rapid development, especially since 2004, when the two countries forged the first all-round strategic partnership to boost political and economic cooperation, La Bella said.     "The Italian Culture Year in China of 2006 was very successful," La Bella said. "Institutional exchange and business ties have increased. Reciprocal awareness of each other's culture and history is now greater."     The Italian firms in China enjoy Chinese government's support, the expert said, "Trade exchanges have increased. Italy imports from China technological goods, and exports Italian fashions and brands to China."     The two presidents will surely discuss in their meeting the upcoming Chinese Year of Culture in Italy, scheduled for 2010. It will be China's turn this time to be culturally, economically and politically present in Italy, La Bella said.     Numerous events are planned for the Chinese Year in Italy, which marks celebrations of the 40th anniversary of diplomatic relations between the two countries.     It will be an opportunity for high level political, economic and cultural exchanges between Chinese and Italian leaders and industry representatives.     According to La Bella, fostering bilateral ties with China is of crucial importance to Italy.     China and Italy are well-tuned politically as well, he added. "Italy pursues the one-China policy and is a front runner in lifting the arms embargo against China," he said.

BEIJING, May 4 (Xinhua) -- Chinese Vice-Premier Li Keqiang on Monday vowed to keep the worsening global epidemic of influenza A/H1N1 out of China's border, while the same day the government sent a chartered plane to Mexico to pick up around stranded 200 Chinese nationals.     "The most important work at present was to strictly check on border entry" as the killer disease has been mainly reported overseas, Li gave the direction during a visit to the Ministry of Health.     China could not rule out the possibility of the virus' spreading into its border although no confirmed case had been reported yet on its mainland, Li warned.     "We must be fully prepared and strive for the best outcome through orderly and effective work," he said. He ordered government bodies to step up technical equipment and material storage, arrange designated hospitals and be well prepared for emergencies. Chinese Vice Premier Li Keqiang (2nd R) arrives to attend a symposium together with experts on prevention and control of A/H1N1 Flu at the Ministry of Health in Beijing, May 4, 2009.Information transparency was of key importance to the scientific epidemic prevention and control, he said, calling for further improvement in information publicity.     "Infections within our border must be immediately publicized, and the prevention and control work must be transparent," he said. 　　CHARTERED FLIGHT     In light of the plight of around 200 Chinese citizens still stranded in Mexico, center of the flu outbreak, the government sent a chartered flight late Monday to pick them up.     The plane left Guangzhou for Mexico City and Tijuana at 10 p.m. and is expected to return to Shanghai at 9 a.m. Wednesday, China Southern Airlines said.     The 17-strong crew have been trained on precautions against the flu and dealing with any health emergencies.     A quarantine expert from the Ministry of Health and doctors from the airline would closely monitor the health conditions of the passengers. Chinese Vice Premier Li Keqiang (R, front) shakes hands with an expert on prevention and control of A/H1N1 Flu prior to a symposium at the Ministry of Health in Beijing, May 4, 2009.If any passengers developed symptoms like fever, all the passengers and flight crew would probably be quarantined after returning to China, sources with the airline told Xinhua.     China suspended flights from Mexico to Shanghai starting Saturday after a 25-year-old Mexican man, who arrived in Shanghai Thursday aboard flight Aeromexico 098, was later diagnosed with influenza A/H1N1 in Hong Kong.     The Mexican became Hong Kong's first confirmed case of influenza A/H1N1 infection Friday. It was also the first such casein Asia.     China Monday cancelled a chartered flight to Mexico to pick up 120 or so stranded passengers. The airline said another 80 Chinese citizens have requested to take the expected chartered flight back to the country.     NO DISCRIMINATION, CHINA SAYS     Monday's take-off of Chinese plane has been a result of a bilateral agreement between the governments, which allows both to send chartered flights to each other's country to lift their stranded nationals.     The agreement was reached even after diplomatic disputes whether China has taken discriminatory measures against Mexican citizens.     Mexican Foreign Minister Patricia Espinosa Cantellano has complained China's quarantine of some Mexican citizens with no symptoms of the virus was discriminatory and short of scientific evidence. He also reminded Mexican citizens not to travel to China until it corrected the discriminatory measures.     Foreign Ministry spokesman Ma Zhaoxu said on Monday that the country's medical quarantine of some passengers who had traveled on the same flight with the Mexican man who was infected with influenza A/H1N1 as necessary.     "The measures concerned are not targeted at Mexican citizens and there is no discrimination," he said in a press release. "This is purely a medical quarantine issue."     Ma said China hoped Mexico would be understanding of the measures adopted by China and handle this matter objectively and calmly given the overall situation of jointly addressing the epidemic.     He also said China and Mexico are friendly countries and China attaches great importance to diplomatic relations with Mexico.     "China is willing to enhance cooperation with Mexico and make joint efforts to combat the epidemic situation," said Ma.     All the 176 passengers and 13 crew aboard have been located and those who remained in China have been quarantined, including Mexicans. 　　MORE INSPECTION TEAMS     In another move to contain the epidemic, the government has stepped up checks on people entering the country by sending another six supervision teams to major provinces to prevent influenza A/H1N1 from spreading to the country, the top quality supervisor said Monday.     These teams went to provinces of Shandong, Hebei, Sichuan, Jiangsu, Zhejiang, Hunan, Hubei and Shaanxi and would work together with local authorities, according to the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ).     GAQSIQ required all people entering China by air, land and sea to fill in personal health statement cards to strength control efforts.     The 6 teams were in addition to the previous 5 teams going to Beijing, Shanghai and Guangzhou on April 25.     Also on Monday, the Ministry of Health said it had listed A/H1N1 under the category of infectious diseases that warranted quarantine, and would quarantine people and material crossing China's borders that were suspected of transmitting the virus.

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BEIJING, May 11 (Xinhua) -- China released a detailed three-year plan to stimulate its nonferrous metal industry focused on industrial restructuring and technology innovation, the State Council, or the country's Cabinet, said here on Monday.     The nonferrous metal sector should keep a steady operation in 2009, and achieve a sustainable development by 2011, according to the plan.     The country would encourage regrouping among nonferrous metal companies to sharpen the competitive edge of the whole industry, the plan said.     Three-to-five nonferrous metal corporation would be formed out of industrial reconstructing by 2011 with advanced production capacity and technology innovation capability.     Combined copper output of top 10 domestic producers should take up 90 percent of the country's total by 2011, aluminum output 70 percent, lead 60 percent, and zinc 60 percent, according to the State Council.     The government would also encourage the exploitation of nonferrous metals both at home and abroad, supporting companies to invest in mines overseas -- either on their own or with foreign parties.     The country would help with capital injection and foreign reserve application concerning overseas projects.     The export rebate policy would be a "proper" and "flexible" one to encourage nonferrous products with high technology and high added values, according to the plan.     The State Council also laid out guidelines to eliminate obsolete capacity and digest over capacity. No new project to develop electrolytic aluminum will be allowed in the next three years, the plan said.     The country would put strict control on the production of copper, lead, zinc, titanium and magnesium.     At the same time, China aims to save 1.7 million tonnes of coal and 6 billion KWh of electricity per year, as well as reduce sulfur dioxide by 850,000 tonnes annually as part of industrial upgrading for the nonferrous metallurgy sector.     China was the largest producer and consumer of nonferrous metals with total output of ten major nonferrous metals reaching 25.2 million tonnes and total consumption at 25.17 million tonnes in 2008.     The country's nonferrous metal industry received a severe blow from the global economic downturn after keeping high-speed growth for nearly a decade.     Statistics released by the China Nonferrous Metals Industry Association showed aggregate profit of China's nonferrous metal producers fell 45 percent last year to 80 billion yuan (11.73 billion U.S. dollars).     Along with the support plan for the nonferrous metal sector, the State Council has unveiled stimulus packages for 10 industries since January, such as machinery-manufacturing, electronics and information industries, the light industry and petrochemical sectors.

URUMQI, July 7 (Xinhua) -- More than 60 overseas media have sent journalists to Urumqi, capital of northwest China's Xinjiang region, after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured.     "We disclosed information shortly after the incident. We welcome domestic and overseas journalists to come and see what happened," Hou Hanmin, deputy head of the publicity department of the Communist Party of China (CPC) Xinjiang regional committee, said Tuesday. Chinese and foreign journalists work at the press center established at Hoi Tak Hotel in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"As long as security can be guaranteed, we will try our best to arrange interviews," the official said, adding the country was moving ahead on information disclosure.     Sixty overseas news media and 80 domestic news media organizations attended a press conference Tuesday afternoon, at which the Urumqi mayor said identification of the dead in the riot is underway.     "The government adopts a much more open attitude toward the media after the incident, compared with that after the March 14 unrest in Tibet and the Sichuan earthquake last year," said Ted Plasker in fluent Chinese. He is a journalist with The Economist who has been in China since 1989. Chinese and foreign journalists work at the press center established at Hoi Tak Hotel in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"I saw tight security and very little traffic in the city," said Plasker, who arrived in Urumqi Monday afternoon.     "I have been to the scene and the hospitals. It's horrible to see the people drenched in blood and the shattered shops. Many people who had been attacked told me they did not understand why it happened."     Plasker said he himself wanted to know why such a violent riot had happened. Chinese and foreign journalists cover events in the street of Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"Some places in the city were surrounded by policemen and traffic control could be seen," he said. "But I understand it's for our safety."     Choi Yoo Sik, a journalist from South Korean daily Choson Ilbo, said the Chinese government was very open on the incident. "We foreign journalists can interview anybody, Han or Uygur. I have got enough information for my stories."     However, when speaking about the situation in the street, he frowned and said, "it is still dangerous at the moment."     Urumqi authorities have opened a news center, equipped with more than 50 computers with Internet access, to both Chinese and foreign journalists since Monday afternoon.