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BEIJING, Oct. 31 (Xinhua) -- China's decision to cut interest rates on Thursday is part of its flexible monetary policy to cope with the world financial crisis and boost domestic economy, a central bank spokesman said on Friday.     Li Chao, spokesman of the People's Bank of China (PBOC) explained the government's cut in interest rates for the second time in one month.     On Wednesday, the PBOC announced to cut interest rates by 0.27 percentage points as of Oct. 30 to spur economic growth. The benchmark one-year deposit rate dropped to 3.60 percent from 3.87percent, while the benchmark one-year lending rate fall from 6.93 percent to 6.66 percent.     The previous cut was on Oct. 8, when the PBOC announced a lowering of deposit and lending rates by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     Li said the move was in response to a spreading and worsening world financial crisis. "The severe crisis was beyond most people's expectations."     He said: "China's economy relies highly on external markets. It is very necessary for the country to adjust economic policy, including monetary policy, in a timely and flexible manner to reduce the negative impact to a minimum."     "Recently, China's exports have weakened as a result of weak world demand. Domestic export-oriented enterprises, especially those coastal based companies, face difficulties," he added.     The country's export value in the first three quarters was 1.07trillion dollars -- up 22.3 percent -- the growth rate was 4.8 percentage points lower, official figure showed.     "Meanwhile, the nation's inflation pressure has been eased," he said, adding the latest interest rate cut aims at maintaining the energy of China's economic growth.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year. The growth rate was 2.3 percentage points lower than the same period last year.     Consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     When asked the reason why the government only reduced interest rates and left the reserve-requirement ratio unchanged in the latest move, Li said this is because liquidity of the country's bank is adequate.     Li said to cope with the international financial crisis and maintain sound and relatively fast national economic growth, the central bank has removed mandatory restriction on the commercial banks' loan plan.     He said that China has confidence that it can resist the world financial crisis, as the country has great potential in expanding its domestic demand, and the financial system is stable.     He called for cooperation between countries worldwide to cope with the crisis, and to carry out international financial system reform

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LIBREVILLE, Nov. 7 (Xinhua) -- Visiting Chinese top legislator Wu Bangguo held talks here on Friday with President of Gabonese National Assembly Guy Nzouba Ndama, saying that the National People's Congress (NPC) of China is ready to step up cooperation with the parliament of Gabon to add new vigor into bilateral relations and jointly push forward friendly relations between the two countries.     Wu, chairman of the Standing Committee of the NPC, China's top legislature, called Gabon a true friend of China, saying that China is satisfied with the growth momentum of the bilateral relations and the two countries have seen healthy and stable development of friendly and cooperative relations since they established diplomatic ties 34 years ago.     Wu said that the two sides have achieved remarkable results in cooperation between governments, parliaments and various political parties in fields such as economy and trade, culture and education as well as public health. Speaker of Gabon's Senate Rene Radembino Coniquet (R) shakes hands with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress, the country's top legislature, during their meeting in Libreville, capital of Gabon, Nov. 7, 2008.    "We have established our close consultation and cooperation on international affairs, and more importantly, we have made breakthroughs on working together on some big-scale projects," Wu said.     "It's the treasure to both sides and China will make joint efforts with Gabon to step up cooperation in all dimensions," he added.     Wu said that the NPC represents the will of Chinese people and shoulders very important responsibility to promote the friendship between Chinese and Gabonese.     He called on the two countries' parliaments to boost their exchange and cooperation, especially between the parliamentary ad hoc committees and various friendship groups.     Echoing Wu's views on the bilateral relations and inter-parliamentary cooperation, Ndama said that the frequent mutual visits between the two countries' leaders have pushed forward the bilateral ties into a new stage of development, which he said already brought substantial benefits to the Gabonese people.     He suggested that the two nations should work closer to expand their cooperation on culture, education, aviation and tourism, reiterating that Gabon would continue to adhere to the one-China policy and support China's peaceful reunification.     Ndama also said that the relations between the two parliaments have showcased the Gabon-China friendly ties and the Gabonese National Assembly hoped to maintain the frequent exchanges to expand mutual understanding and consolidate substantial cooperation in various fields.     The Chinese top legislator also met with Rene Radembino Coniquet, speaker of the Gabonese Senate, on the same day. The two sides voiced commitment to boost the bilateral relations and enhance their cooperation to a higher level.     "The facts have already proved that the growth of the China-Gabon relations not only benefits the two countries and their people, but also helps to promote the peace and development of the world," Wu told Coniquet.     Wu arrived here on Thursday afternoon for a two-day official visit to Gabon. He will fly to Ethiopia on Saturday to continue his five-African nations tour, which also includes Algeria, Madagascar and Seychelles.

LUANDA, Jan. 19 (Xinhua) -- China's eight-measure policy designed to strengthen economic and trade cooperation with Africa has been effectively carried out with remarkable achievements in the past two years, Chinese Minister of Commerce Chen Deming said Monday.     In an exclusive interview with Xinhua, Chen said remarkable achievements have been scored in the two-way economic relations and trade cooperation between China and African since Chinese President Hu Jintao announced the eight-measure African policy at the Beijing Summit of the China-African Cooperation Forum in 2006 in Beijing.     The policy covers China's assistance to Africa, preferential loans and credits, the building of a conference center for the African Union, the canceling of debts, further opening-up of China's markets to Africa, the establishment of trade and economic cooperation zones in Africa, and the training of African professionals.     Since 2007, China has signed bilateral aid accords with 48 African countries and loan agreements with favorable terms with 22African countries, Chen said.     The year 2009 will witness a 200-percent increase in aid accords with African countries in value terms as compared to 2006,the minister said.     Meanwhile, the Chinese government will exempt 168 debts that should be paid by the end of 2005 by 33 African countries, he noted.     To encourage Chinese enterprises to invest in Africa, the Chinese government has established the China-Africa Fund with an initial allocation of 1 billion dollars, Chen said.     By the end of 2008, the China-Africa Fund had invested about 400 million dollars in 20 projects, which brought the total investment in Africa by Chinese enterprises to about 2 billion dollars.     The Chinese side plans to gradually expand the fund to 5 billion dollars, Chen said.     In addition, the construction of economic and trade zones or duty free trade zones in Africa is progressing smoothly, including the Zambia-China Economic and Trade Cooperation Zone, the Guangdong Economic and Trade Cooperation Zone in Nigeria and the Lekky Duty Free Trade Zone in Lagos, Nigeria, the Egypt-Suez Economic and Trade Zone and Ethiopian Orient Industrial Park, the minister said.     The Zambia-China Economic and Trade Cooperation Zone, as China's first trade cooperation zone in Africa, has been initially completed and put into operation, Chen said.     Ten Chinese enterprises with a combined investment of more than700 million dollars have set up plants in the zone located in the Zambian capital of Lusaka, offering some 3,500 jobs for local people, he noted.     Zambian President Rupiah Banda spoke highly of the establishment of the Zambia-China Economic and Trade Zone, as well as China's eight-measure economic policy on Africa. Like the Tanzania-Zambia Railway, the Zambian president said, the zone is a key measure symbolizing the Sino-African friendship in a new era.     To expand imports from the most underdeveloped African countries, China has exempted import tariffs from 31 African countries on farm products, stone materials, minerals, leather and hide, textiles, clothing, electric appliances and machinery and equipment, Chen said.     The African countries have gained a total of 680 million dollars in tariff exemptions during the period from 2006 to October 2008.     China has also cooperated in training African scientists and technical personnel in sectors including agriculture, medical care, social development and education.     Since 2007, China has offered training programs for 10,916 people from 49 African countries. By the end of 2009 China will send 100 advanced-level agrotechnicians to 35 African countries, Chen said.     China plans to establish 14 agricultural technology demonstration centers, all of which will begin construction by the end of this year.     Meanwhile, about half of the hospitals that China pledged to help build in Africa have already finished construction bidding, Chen noted.     The construction of the African Union Conference Center, also a Chinese aid project, began last December and is scheduled to be completed in 2011, he said.     Chen was scheduled to leave Angola for China on Monday, wrapping up a three-nation African trip that also took him to Kenya and Zambia.

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BEIJING, Nov. 2 (Xinhua) -- China's gross domestic product (GDP) growth is expected to slow to 9.4 percent in 2008 from last year's 11.4 percent as the shrinking exports will cool the world's fourth largest economy, according to a Chinese credit rating agency report on Sunday.     The fundamentals of the economy are sound, but falling export orders would take a toll on the national economy in the short term, and domestic consumption needed time to play a bigger role, said the report released by the China Chengxin International Credit Rating Co. (CCXI), a joint venture of China's first rating agency China Chengxin Credit Management Co. Ltd. and U.S.-based Moody's Corporation.     The changing external economic environment and the burst of domestic asset bubbles would exacerbate the slowing economy, said the report.     The proactive fiscal policy was key to preventing the economy from falling and there was room for further cuts in bank reserve requirement ratios and interest rates.     It predicted the economy would gain 8.6 percent in 2009, but it gave no explanation of its forecast.     China's economy grew at 9 percent in the third quarter, the slowest in five years, as the global financial crisis sapped demand for Chinese goods, and domestic industrial production waned in response to weak demand and rising raw material costs.     The government has lowered interest rates three times in the last two months, increased export rebates and cut property transaction taxes to boost domestic consumption.     The report said the world financial crisis would have limited direct impact on the domestic banking system, but it warned Chinese exporters of default risks of foreign buyers.     Insurers and securities companies would be affected as the domestic capital market was growing more connected to the international market.     In September, the Manila-based Asian Development Bank, projected China's GDP growth to fall to 10 percent this year and further ease to 9.5 percent in 2009.     The slow-down was a result of the combined effects of a reduced trade surplus, slower growth in investment, and the global economic downturn, the Asian Development Outlook 2008 Update has said.

CAIRO, Dec. 25 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said on Thursday that China is willing to further the strategic cooperative ties with Egypt which was established in 1999.     During his meeting with Egyptian President Hosni Mubarak, Li said the tenth anniversary of the establishment of the ties in next year should be an opportunity to further such a relationship.     "The two sides should take advantage of this opportunity to strengthen the strategic coordination and cooperation and enrich the contents of bilateral relations," he said.     Li suggested the two countries to deepen cooperation in trade, investment, transport, communications, tourism and human resources as well as explore new areas.     Meanwhile, Mubarak expressed beliefs that with the joint efforts of leaders of the two countries, Egypt-China strategic cooperative relations will make new progress.     Li arrived here on Wednesday afternoon for a four-day official visit to Egypt at the invitation of Egyptian Prime Minister Ahmed Nazef.     He told Mubarak that the purpose of his visit is to implement the consensus reached by the two heads of state, deepen the relations with Egyptian and promote relations with Arab and African countries.     He hailed Egypt, which he believes plays an important role in international and regional affairs, as an important cooperative partner of China among developing countries.     "The Chinese side attaches great importance to developing Sino-Egyptian relations," Li noted, adding that the two countries have always respected each other, treated each other frankly and witnessed continuously deepened political trust and rapid development of pragmatic cooperation in various areas.     "The relationship between the two nations has become a model for cooperation among developing countries," he said.     Mubarak asked Li to convey his regards to Chinese President Hu Jintao and other Chinese leaders. He said he has maintained close and friendly relations with several generations of Chinese leaders, and Egypt is pleased to see China's rapid development, and hopes it can be stronger.     He said he has been working to promote the development of bilateral ties, and attaches great importance to developing friendly cooperation in all fields with China.     Li also briefed Mubarak on China's measures in countering the global financial crisis, including adjusting macroeconomic policies in a timely manner, implementing proactive fiscal policy and moderate monetary policy and expanding domestic demand to promote economic growth.     He said China believes that these measures will be conducive to China's economy to maintain steady and rapid development.     After the meeting, Li briefed the Egyptian media on the meeting with the president.     Li also held talks with Egyptian Prime Minister Ahmed Nazef, and the two attended a signing ceremony on cooperative documents in fishery.     Besides meetings with Egyptian leaders, Li will also attend the opening ceremony of a China-Egyptian business forum in the afternoon.     Egypt is the second leg of Li's first overseas trip since he took office as vice premier in March. The trip has brought him to Indonesia and will bring him to Kuwait.     Among his entourages are senior foreign affairs, development, commercial and banking officials.     According to Chinese statistics, trade volume between China and Egypt has reached more than 5.3 billion U.S. dollars as of October this year, a 44-percent increase compared with the same period of last year.     By the end of July, about 570 Chinese companies have invested in the northeastern African country.     In addition, more and more Egyptian students begin to study Chinese language as the bilateral ties ushered into a new phase. Up to now, there are five Egyptian universities that have established Chinese language departments.

CHENGDU, Jan. 27 (Xinhua) -- More than one million migrant workers, who were forced to return home late last year amid the impact of the global financial crisis, have found new jobs in southwest China's Sichuan Province.     Out of the 1.49 million migrant workers who had returned home, 1.03 million have found new jobs through training and job fairs organized by the government, according to the provincial labor and social security department.     About 38 percent of them engage in farming and breeding, 43 percent work in the towns and the rest leave home again and find their new jobs in other provinces.     So far, Sichuan has provided 5,000 training classes to 250,000 migrant workers. It also organized 53 job fairs specifically for the migrant workers, helping some 100,000 find new jobs.     The province is expected to invest 80 million yuan (11.7 million yuan) this year on migrant workers training, up 77.8 percent year on year.

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BEIJING, Dec. 10 (Xinhua) -- A compensation scheme for families of sickened and dead babies in the tainted milk powder scandal, which caused a food safety scare in China, is under review, a Health Ministry spokesman said on Wednesday.     The ministry is collecting medical records and checking statistics to make preparations for compensation, spokesman Mao Qun'an told reporters.     Mao said he "has not been authorized to release details" about the compensation plan but assured the media that relevant departments are working on it and will release the results after the plan is adopted.     Mao also said local governments paid a large amount of money for hospital ultrasound equipment and medication after more than 22 million children needed testing after drinking formula containing an industrial chemical known as melamine. That testing started in September.     Children who were confirmed to have developed kidney stones received free treatment.     The ministry said earlier it was likely six babies died from drinking toxic milk powder. Another 294,000 infants suffered from urinary problems such as kidney stones.     The General Administration of Quality Supervision, Inspection and Quarantine publicized the names of 22 dairy companies which produced milk products containing melamine after milk powder produced by Sanlu Group was found to contain the banned chemical in mid September.

Zhou Yongkang (2nd R, front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the central government delegation, inspects a police van in Bose, southwest China's Guangxi Zhuang Autonomous Region, Dec. 13, 2008. Zhou was in Guangxi to extend the central government's congratulations and good will to the people of Guangxi, one of China's five minority autonomous regions.     BEIJING, Dec. 13 (Xinhua) -- Senior Chinese leader Zhou Yongkang continued his visit in Bose City, south China's Guangxi Zhuang Autonomous Region, on Saturday as locals held celebrations for the 50th birthday of the autonomous region.     Zhou was in Guangxi to extend the central government's congratulations and good will to the people of Guangxi, one of China's five minority autonomous regions. Zhou Yongkang (2nd L, front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the central government delegation, talks with rural left-behind children, whose parents are both working in the cities, at a village in Bose, southwest China's Guangxi Zhuang Autonomous Region, Dec. 13, 2008. Zhou was in Guangxi to extend the central government's congratulations and good will to the people of Guangxi, one of China's five minority autonomous regions.     Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, on Saturday morning presented a floral basket to a monument in commemoration of revolutionary martyrs killed in the Bose Uprising in 1929.     The event marks the establishment of the CPC's armed forces in Guangxi to fight against local warlords, as well as the growth of the CPC's power at its early stage.     Following decades of construction and development, Bose has developed into an industrial center, producing aluminum and electricity.     During his visit to the Guangxi branch of the Aluminum Corporation of China Limited (CHALCO) in Bose, Zhou encouraged the company to research and develop more innovative technology to boost the development of the company and Guangxi's economy.     Zhou also inspected a water control project in Bose, which was built two years ago for the purpose of flood control, irrigation and electricity production.     Zhou has been staying in Guangxi since Wednesday when he led the central government delegation to attend the celebrations marking the 50th founding anniversary of the minority autonomous region.     The autonomous region was founded on Dec. 11, 1958 and has 12 ethnic groups. The total population in Guangxi by the end of 2007 was more than 50 million, one-third are of the Zhuang ethnic minority.

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Premier Wen Jiabao is in Russia for a visit.     "Currently, women account for 45.4 percent of China's total employed population," said All-China Women's Federation (ACWF) Deputy-Chairwoman Huang Qingyi, who delivered a work report on behalf of the ninth ACWF Executive Committee.     Huang said there were nearly 700,000 women models working in various circles who had greatly inspired people.     Exemplar women included Ren Changxia, a late policewoman in central Henan Province who devoted herself to her police career and died of fatigue at 40, and Song Yushui, a judge in a Beijing district court who has long been engaged in handling cases involving economic and intellectual property rights issues. Gu Xiulian, chairwoman of the All-China Women's Federation (ACWF), presides over the opening ceremony of the 10th National Women's Congress at the Great Hall of the People in Beijing, China, on Oct. 28, 2008. Chinese women also played larger role in the political sector. Female deputies comprised 21.33 percent of the National People's Congress (NPC), up 1.09 percentage points from the previous congress, and women make up 17.7 percent of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), up 1 percentage point.     The proportion of female deputies to the 17th National Congress of the Communist Party of China was also up two percentage points, said Huang, adding "women have become an important force pushing forward political development".     She said the education gap between men and women has narrowed as proportions of women receiving various levels of education have increased steadily, with their mind continuing to be emancipated and concept updated and employment improved. The 10th National Women's Congress opens at the Great Hall of the People in Beijing, China, on Oct. 28, 2008. China's maternal mortality rate has reduced to 36.6 per 100,000 from 51.3 per 100,000 in 2003, and the infant mortality rate has dropped to 15.3 per 1,000 from 25.5 per 1,000 in 2003, according to Huang.     She said more and more women bought various social securities and women's life expectancy reached 75.25 years.     Statistics show more than 27,000 women and children rights protection agencies had been set up to handle cases involving rights infringement. The 10th National Women's Congress opens at the Great Hall of the People in Beijing, capital of China, on Oct. 28, 2008Women of ethnic minority groups and those who were religious believers were also greatly motivated to contribute to the social development, Huang said, adding mainland women groups had conduced various exchanges with their counterparts in Hong Kong, Macao and Taiwan.     International exchanges such as bilateral and multilateral visits were well under way, with the ACWF having established friendship with 697 women and children groups in 164 countries and regions.     The five-day congress will hear and discuss a work report by the Nineth Executive Committee of the ACWF, deliberate and adopt amendments to the federation's constitution, and elect the 10th ACWF Executive Committee.     ACWF Chairwoman Gu Xiulian said 1,407 delegates from across the country were present at the once-every-five-year congress. Among the 1,280 elected delegates, 1,020 of them are newly elected. Each of China's 55 ethnic minorities has at least one delegate to the congress.     Officials in charge of women affairs from Beijing and other provinces, autonomous regions and municipalities, ACWF former leaders and representatives from Hong Kong and Macao, also attended the congress.

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