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BEIJING, Nov. 8 (Xinhua) -- Chinese President Hu Jintao and U.S. president-elect Barack Obama Saturday discussed in a telephone conversation relations between China and the United States and major international issues of common concern, including the ongoing global financial crisis.     In the telephone conversation, Hu expressed appreciation to Obama for emphasizing in his election campaign speeches the great importance of China-U.S. relations, and for advocating the strengthening of China-U.S. cooperation in jointly responding to global challenges and in sharing global development opportunities.     Hu pointed out that since the establishment of diplomatic relations between the two countries 30 years ago, bilateral relations have generally kept developing despite setbacks, scoring hard-earned achievements and bringing about tangible interests to both nations.     As the largest developing nation and the largest developed nation, China and the United States share extensive common interests on issues related to world peace and development, and both assume important responsibility in this regard, Hu said.     In the new historical period of time, China is willing to maintain high-level exchange with the United States and also contacts at all levels, continue strategic dialogue with the United States, increase exchange and cooperation between the two countries in all fields, and strengthen the exchange of opinion and coordination with the United States on major international and regional issues, the Chinese president noted.     China and the United States should respect each other and accommodate each other's concerns, and appropriately settle sensitive issues between the two countries, particularly the Taiwan issue, in order to promote the China-U.S. relations of constructive cooperation to a higher level, he said.     Speaking on the same occasion, Obama said that China is a great nation and that China's development and success meet U.S. interests.     On today's international arena, U.S.-China relations are relations of vital importance. The development of U.S.-China relations is not only in the interest of both nations, but also benefits the world, Obama said.     Saying that U.S.-China relations face many development opportunities, Obama expressed the hope that the United States and China will strengthen cooperation, and promote greater development of bilateral relations, to bring benefits to both nations.     The United States hopes to strengthen consultation and coordination with China on security, climate change and regional hotspot issues, to promote settlement of the relevant issues.     Hu pointed out that the current global financial crisis has seriously impacted economic development and people's livelihood in all countries around the world. The international community should increase confidence, strengthen coordination and have close cooperation, in effectively dealing with this global challenge.     A world economic summit will be held in Washington on Nov. 15, and China attaches great importance to it. China is willing to discuss with other participants in the summit how to adopt powerful measures to reestablish market confidence as early as possible, how to prevent the global financial crisis from proliferation and spreading, and how to diminish its impact on real economies, in a bid to avert a possible global economic recession, Hu said.     The global financial crisis has led to the exposure of many deep-hidden drawbacks of the global financial system.     The international community should earnestly sum up the lessons from the global financial crisis and launch necessary reforms of the global financial system, on the basis of sufficient consultation among all interested parties, Hu said.     In particular, efforts should be made to explore in an in-depth way solution of such major questions as how to strengthen international financial supervision and regulation, how to improve the system of international financial organizations and how to improve the international monetary system, the Chinese president said.     Obama said that settlement of the global financial crisis requires close cooperation by governments of all countries, expressing the hope that the United States and China will strengthen cooperation at the world economic summit planned for November 15 in Washington.

GUANGZHOU, Nov. 22 (Xinhua) -- What China can do for the world is not to sell out its massive dollar reserve, but slightly increase its hold of the currency to give reasonable support to the U.S. effort to save its economy, said a senior economist here on Saturday.     It is indeed difficult for China to handle its huge forex reserve, as the U.S. currency has already depreciated 20 percent against the Chinese yuan, said Cheng Siwei, well-known economist at a financial forum held in Guangdong.     "China would suffer from losses if it sells off the dollar, so our strategy should be not to sell, but to slightly increase dollar reserve," said Cheng, also former vice-chairman of the Standing Committee of the National People's Congress (NPC).     Cheng made the remarks amid increasing concern that China might use its forex reserve to finance its 4-trillion-yuan stimulus plan. China held 1.9 trillion dollars worth of forex reserve by September this year.     China "can only afford to do what is corresponding to its level of development and national power amid a global crisis," said Cheng.     "We should be prudent as to how to deal with our forex reserve," said Cheng, noting that China, despite its large size of economy, has its gross domestic product (GDP) accounting for only 6 percent of the world's total, and its per capita GDP ranking falling out of the top one hundred list.

BEIJING, Feb. 1 (Xinhua) -- Attracted by the real estate plunge on the other side of the globe, Chinese homebuyers are gearing up for visits to the United States in February to buy cheap homes, the English language newspaper China Daily reported in its weekend issue.     A pioneering house-buying team of 20 to 30 people, organized by Soufun.com, one of the largest real estate portals in China, is scheduled to leave for the United States on Feb. 12, according to an article on Soufun.com.     It is said more than 300 Chinese have registered so far on the website for a 10-day house-buying trip.     The U.S. mortgage crisis and the downturn in the global economy have presented people with a golden opportunity, said Liu Jian, an official of the Beijing-based real estate portal.     The trip, which costs up to 25,000 yuan (3,500 U.S. dollars) per person, will focus on cities with huge ethnic Chinese populations including San Francisco, Los Angeles, Las Vegas and New York, Liu said.     The prices of houses targeted by Chinese buyers are between 3 million to 5 million yuan (400,000 to 700,000 U.S. dollars), he said.     The applicants include real estate professionals who want to investigate in the U.S. real estate market, and parents who want to buy houses for their children studying or to study in the United States.

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BEIJING, Nov. 21 (Xinhua) -- The Communist Party of China's (CPC) top anti-corruption official on Friday urged tighter supervision and inspection to ensure the implementation of the central government's economic policies.     He Guoqiang, secretary of the CPC Central Commission for Discipline Inspection (CCDI), made these comments at a conference held before inspection groups headed for local governments.     The central government has announced steps to spur domestic demand and boost economic development in the face of the global economic slowdown.     A supervision work leading group, composed of the CCDI, the Ministry of Supervision, the National Development and Reform Commission, the Ministry of Finance and the National Audit Office, has been set up to supervise the projects invested in by the central government and the implementation of economic policies.     Twenty-four groups will go to 31 provinces, municipalities and autonomous regions to carry out inspections.     He asked inspectors to examine project plans, as well as approval and construction procedures, to ensure they were in compliance with laws and regulations.     Supervision over the management and use of money, as well as project quality, should be tightened, He said.     He, who is also a member of the Standing Committee of the CPC Central Committee Political Bureau, added that officials found taking bribes or embezzling funds should be severely punished.

BEIJING, Oct. 22 (Xinhua) -- China called on Vietnam for cooperation in the South China Sea to discover ways to address bilateral disputes over the region.     In a meeting here with visiting Vietnamese Prime Minister Nguyen Tan Dung on Wednesday, Chinese President Hu Jintao proposed the two neighboring countries always keep the overall situation of the bilateral relations in mind and make efforts to strengthen bilateral efforts and properly settle the issues concerning the South China Sea.     "We should make it (South China Sea) a place of peace, cooperation and friendship," Hu said.     Nguyen said Vietnam would insist on the negotiation for the peaceful and lasting resolution of the issue and reduce the differences based on mutual trust, respect and understanding. Chinese President Hu Jintao (R) meets with visiting Vietnamese Prime Minister Nguyen Tan Dung at the Great Hall of the People in Beijing, capital of China, Oct. 22, 2008. Nguyen Tan Dung was here for an official visit and to attend the Seventh Asia-Europe Meeting (ASEM7) scheduled for Oct. 24-25    Vietnam was willing to resolve disputes with China concerning the issue in a spirit of cooperation and brotherhood and to cement the bilateral ties in the South China Sea in fields such as oil and natural gas exploration, environmental protection, marine rescue mission and in combating against piracy, he noted.     Nguyen arrived in China on October 20 at the invitation of Chinese Premier Wen Jiabao. He will attend the Seventh Asia-Europe Meeting (ASEM7) here on Oct. 24-25.

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GUANGZHOU, Oct. 20 (Xinhua) -- Chinese exporters, faced with dwindling foreign orders amid global economic slowdown, are diverting their attention to domestic markets.     At the ongoing Canton Fair, China's leading trade fair, businesses that canvass foreign buyers are also focusing on the local market as their customers in the Western nations are dragged into recession by the global credit crisis.     Qiao Guan, board chairman of the Jiangsu Hotwind Sauna Equipment, said his company is planning to divert some of the business from abroad to the domestic market.     The company's sales in the United States, which accounted for about 30 percent of its total exports, had dropped by more than 20 percent this year, Qiao said.     He hoped the local sales could compensate the decreasing orders in the foreign market. "We have completed research on the domestic market, which shows some exported goods are affordable and have good sales prospects in the local market," he said.     The Himin Solar Energy Group, based in east China's Shandong Province, produces solar water heaters that are sold both at home and abroad. Xue Xinwen, head of the firm's international trade department, said the company had been losing orders as some Western countries canceled subsidies on environment-friendly imports.     "We have sent more staff to market our products to local infrastructure authorities and companies," he said.     "Domestic consumption has been greatly boosted by a robustly growing economy, creating positive situations for exporters to go local," he said.     But the readjustment can be difficult.     Li Jianlan, a worker with Wanji Plumbing Materials Co. Ltd, based in Ningbo, said an exclusive exporter like her company lacked channels and brand loyalty in the domestic market. "These are two different kinds of markets, and it takes a lot of work to be familiar with the ways business is done with local buyers," she said.     Some goods that are made for export are deemed too expensive for Chinese buyers.     Huang Yan, general manager of the L-bright Export Manufacture Corporation, said it had been very difficult to sell its products to domestic buyers as they lacked a price advantage.     Local governments, aware of the trend, are taking action to encourage the conversions. Guangdong Province, the country's major exporting base, issued a notice in June, ordering local quality inspection authorities to provide needed technical assistance to exporters.

BEIJING, Nov. 28 (Xinhua) -- The Political Bureau of the Communist Party of China (CPC) Central Committee convened a meeting here on Friday, analyzing and studying the economic work of next year and setting out major tasks.     The meeting said that this year has been eventful and the country has risen to many daunting challenges, including the global financial crisis and domestic natural disasters. The economy has maintained a stable and relatively fast growth and society has been stable, which are hard-won achievements, it said.     The meeting, chaired by CPC Central Committee General Secretary Hu Jintao, warned that the worsening global financial crisis would have more impact on China's economic development, urging the country to take more precautionary measures to meet the challenges.     The meeting said that next year, which marks the 60th anniversary of the founding of New China, the nation should boost domestic demand for a stable and relatively fast economic growth, accelerate the transformation of development patterns and structure adjustment for sustainable development, deepen the reform and opening-up drive and solve problems that concern the people's interests for a healthy and rapid economic and social development.     Maintaining a stable and relatively fast economic development should be the foremost task for next year's economic work, it said, urging a better combination of ensuring growth, boosting domestic demand and adjusting structure.     An "active" fiscal policy and "moderately loose" monetary policy should be continued, and measures including tax reduction and increasing central government investment should be taken to safeguard the people's livelihood, stimulate domestic demand and transform development patterns, it said.     Consumption, rural consumption in particular, should be actively boosted and a set of major projects on livelihood, infrastructure and environment protection should be launched.     The position of agriculture as the foundation of the economy should be strengthened and agriculture production be boosted, it said.     The stable growth of foreign trade should also be maintained.     Structural adjustment should be accelerated, including developing the high-tech industry, small and medium-sized enterprises, the service sector and coordinating regional development.     More progress should be made on energy saving and emissions reduction and pollution treatment be stepped up, the meeting urged.     Rural reform and financial reform should be deepened, and people's livelihood should be improved and more jobs be created, it said.     The meeting also agreed in principle suggestions on judicial reform by the CPC Central Political and Legal Affairs Commission.     The reform should meet the judiciary needs of the people and aim at promoting social harmony, beef up measures to tighten the restraint on and supervision over the use of power, and remove barriers that hamper justice, it said.

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BEIJING, Nov. 27 (Xinhua) -- Chinese President Hu Jintao's participation in the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima on Nov.17-26 and his state visits to Costa Rica, Cuba, Peru and Greece are rich in content and fruitful in result, Chinese Foreign Minister Yang Jiechi said here Thursday. As the world financial situation is becoming increasingly grave and China-Latin America, China-Greece relations are entering a new phase of historical development, President Hu's trip is of great significance in enhancing international cooperation to cope with global financial crisis and boosting the further growth of China-Latin America, China-Greece ties.     During his visit, Hu attended more than 70 activities and signed over 30 cooperation agreements with different countries. Hu was received with the highest courtesy and great warmth in all the countries he visited. The visits have also attracted great international and local media attention and been given heavy coverage.      Chinese President Hu Jintao delivers a speech during the Asia-Pacific Economic Cooperation (APEC) CEO summit in Lima, capital of Peru, Nov. 21, 2008. The APEC 2008 CEO Summit kicked off in the Peruvian capital on Friday to address growth, free trade, sustainable development, APEC's relationship with the global economy and other issues    ENHANCE INTERNATIONAL COOPERATION AGAINST FINANCIAL CRISIS     At the meetings, President Hu Jintao stressed the importance for international community to strengthen confidence, cooperation and coordination to tackle jointly the current financial crisis, maintain world financial stability, and promote global economic growth.     Hu proposed a number of measures to solve the current crisis, including strengthening coordination of macro-economic policies, curbing the spread of financial crisis through all necessary fiscal and monetary means to avoid a possible global economic downturn.     He proposed to adhere to the right orientation in establishing a new international financial order that is fair, just, inclusive, and orderly. Necessary reforms should be carried out in international financial system by following the principles of comprehensiveness, balance, step by step and effectiveness to create the system environment for the sound development of the world economy.     He also proposed to change the existing mode of unsustainable economic growth in an effort to solve the deep-seated problems in economic growth of various countries.     Hu also called for support to the developing countries struck by the financial crisis to help keep the momentum of their economic development.          BOOSTING STABLE DEVELOPMENT OF PRAGMATIC COOPERATION AMONG APEC MEMBERS     At the meeting, Hu put forward five-point proposals on dealing with major global issues of common concern.     He urged APEC member economies to build consensus and promote sound development of the multilateral trading regime.     He also urged them to take up responsibilities and jointly tackle climate change.     In addition, APEC member economies should enhance exchanges and cooperation and join forces to combat natural disasters, he said.     Efforts should be made to regulate guidance and strengthen corporate social responsibility, he added.     The Chinese president also stressed the importance for APEC members to take coordinated actions and ensure world food and energy security.     On APEC's future development, Hu said APEC should maintain its nature of a forum for economic cooperation and its approach of conducting cooperation on a non-binding basis.     He said that the APEC members should continue to promote balanced progress in economic and technical cooperation and trade and investment liberalization.     "In particular, we should increase input in economic and technical cooperation to enhance capacity-building in developing members and narrow the development gap."     Hu also presented proposals on tackling climate change, combating natural disasters and boosting the exploration of human resources.     He expressed China's willingness to help finance the network for Asia-Pacific forest restoration and sustained management, and host the APEC Human Resources Development Ministerial Meeting in 2010.     The proposals have drawn widespread welcome and support from the participating members.

BEIJING, Jan. 25 (Xinhua) -- In December 2008, China's light industry enjoyed an output growth of 8.1 percent year-on-year, which sharply outpaced the 4.7 percent growth of heavy industry.     The latest statistics from the National Bureau of Statistics show that the output of state-owned enterprises suffered a decline. In December, state-owned and state-controlled enterprises witnessed an output drop of 0.6 percent, while that of private enterprises went up 16.3 percent, overseas-funded enterprises was up 0.3 percent.     According to the statistics, in December the country produced 219.9 million tonnes of coal, down 1.3 percent year-on-year; the output of crude oil was 15.7 million tonnes, up 0.4 percent; crude steel fell 10.5 percent to 37.79 million tonnes; and motor vehicles dropped 18.9 percent to 685,700 sets.     In December, China's industrial output grew 5.7 percent, or 0.3percentage points faster than the previous month.