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VIENTIANE, March 29 (Xinhua) -- Chinese Premier Wen Jiabao arrived here on Saturday evening, starting his working visit to Laos.     Wen is also scheduled to attend the 3rd Summit of the Great Mekong Subregion countries -- China, Laos, Vietnam, Cambodia, Thailand and Myanmar -- to be convened in this Laos capital city on Monday.     According to the Chinese Foreign Ministry, Wen, invited by Lao Prime Minister Bouasone Bouphavanh, will meet with Lao President Choummaly Saygnasone and hold talks with his Lao counterpart Bouasone on future bilateral cooperation.     Wen and Bouasone are scheduled to attend the signing ceremony of cooperation agreement in the sectors of economy, technology, coal and e-governance. Chinese Premier Wen Jiabao (C) arrives in Vientiane, capital of Laos, March 29, 2008. Wen started his working visit to Laos on Saturday evening by the invitation of Lao Prime Minister Bouasone Bouphavanh, and he is also scheduled to attend the 3rd Summit of the Great Mekong Subregion countries in Vientiane    After his working visit to Laos, Wen will join with leaders from the other five GMS members as well as representatives from the Asian Development Bank at the summit and attend the opening ceremony of a 1,800-km international road from China's Kunming city to Thailand's Bangkok.     The GMS, established in 1992, promotes economic and social development, irrigation and cooperation within the six Mekong countries.     About 320 million people live within the GMS region, and their common link, the Mekong River, winds its way for 4,200 km. The great majority of these people live in rural areas where they lead subsistence or semi-subsistence agricultural lifestyles.     The area boasts abundant natural resources and huge development potential. With a long history of cultural and economic exchanges among the nations, the area has formed peculiar cultural and economic characteristics based on different folk customs and natural landscapes of the six nations sharing the river.     The first GMS Summit was held in Cambodia's Phnom Penh in 2002,and the second in southwest China's Kunming in 2005. 

BEIJING, May 28 (Xinhua) -- General Secretary of the Communist Party of China Central Committee Hu Jintao met with Kuomintang (KMT) Chairman Wu Poh-hsiung at the Great Hall of the People in Beijing on Wednesday afternoon.     Hu said that with the joint efforts of the CPC and KMT, and of compatriots on both sides of the Taiwan Strait, the political situation in Taiwan has gone through positive changes, and the cross-Strait relationship faces a precious opportunity.     "We should cherish this hard-earned situation," said Hu.     It is the first meeting between chiefs of the two parties since positive changes took place in Taiwan.     Hu invited Wu to attend the opening ceremony of the 2008 Beijing Olympics. Wu thanked him and accepted the invitation with pleasure. Hu Jintao (R), General Secretary of the Communist Party of China Central Committee, shakes hands with Kuomintang (KMT) Chairman Wu Poh-hsiung at the Great Hall of the People in Beijing, capital of China, on May 28, 2008. Hu Jintao met with Wu Poh-hsiung and all the members of the visiting KMT group here on Wednesday.     Hu said currently, reopening the cross-strait talks and to achieve substantial results constitutes an important indication of the improvement and development of the cross-strait relations.     He called for resuming exchanges and talks, based on the "1992 Consensus", between the mainland's Association for Relations Across the Taiwan Straits (ARATS) and Taiwan's Strait Exchange Foundation (SEF), as early as possible, and practically solving problems concerning the two sides through talks on equal footing.     Once the ARATS-SEF dialogue is resumed, priority should be given to issues including cross-Strait weekend chartered flights and approval for mainland residents traveling to Taiwan, which are of the biggest concern to people on both sides of the Strait, said Hu.     He urged the two sides to work together to resolve the two issues in the shortest time.     Hu expressed hope that the regularization of the talks between the two organizations could be pushed forward smoothly and achievements made constantly. Leaders of the two organizations should exchange visits when it is convenient for both sides, he said.     Hu pledged support to sending "Tuantuan" and "Yuanyuan," a pair of pandas the mainland has promised to send to Taiwan people as gifts, to Taiwan as soon as possible.     Hu expressed hope that the two parties and both sides across the strait could make joint efforts to build mutual trust, lay aside disputes, seek consensus and shelve differences, and jointly create a win-win situation.     He also called for continuing to follow and effectively implement the "common aspiration and prospects for cross-strait peace and development" to concretely push forward the actual development of cross-strait relations, and strengthen the confidence of Taiwan compatriots in the peaceful development of cross-strait relations.     On behalf of the CPC Central Committee, Hu welcomed Wu and all the members of the visiting KMT group.     Hu said Wu's first visit to the mainland as the KMT chairman is a major event for relations between the CPC and the KMT and relations between the mainland and Taiwan.     He expressed hope that on the basis of previous exchanges and dialogues, the two parties would further exchange views on promoting the improvement and development of relations between the mainland and Taiwan and looking to the future, jointly work for peaceful development of relations across the Taiwan Strait.     On behalf of the KMT and Taiwan compatriots, Wu extended sympathy to compatriots in the areas affected by the Wenchuan earthquake in southwest China. He said the KMT and all social circles in Taiwan would actively assist in the rebuilding of disaster-hit areas.     Hu thanked Taiwan compatriots for their concern and generous donations and assistance to relief efforts in the wake of the 8.0-magnitude earthquake in Sichuan Province.     "The love and benevolence Taiwan compatriots have shown to the people in disaster-hit areas is deeply moving," he said, adding it was touching that on the afternoon of May 12, shortly after the earthquake struck, the Central Committee of the KMT sent a telegram of sympathy.     Hu said the brotherly love and care shown by compatriots in the disaster was particularly valuable. It was not only the spiritual power of the Chinese nation to unite and help each other to jointly conquer the hardships, but would also become a strong driving force for compatriots on both sides of the Taiwan Strait to join efforts in building a better future.     Hu expressed condolences to the families of two Taiwan tourists who died during the quake, noting more than 2,890 Taiwan tourists were evacuated out of the affected areas and returned home smoothly.     Wu said the "sky has cleared after the rain" for the cross-strait relationship, and an opportunity for building up mutual benefits and renovating the cooperation has come. The mainstream public opinion in Taiwan expects the relationship to become more good-willed and interactive.     He said the KMT has listed the "common aspiration and prospects for cross-strait peace and development" into its guiding political principle, and has made it a promise for compatriots across the Strait.     "We hope that both sides across the strait will lay aside disputes, and work for a win-win situation on the basis of the '1992 consensus,'" he said.     He hoped the cross-strait negotiation, which had been severed for years, would be resumed as soon as possible.     The KMT hopes that cross-strait chartered flights on weekends and mainland tourists' visit to Taiwan could be realized in July, he said.     He expressed hope that the giant pandas, which people in Taiwan, especially children, are very fond of, can come to live in Taiwan soon.     He said he would invite the chairman of the mainland-based Association for Relations Across the Taiwan Straits (ARATS) to visit Taiwan at an appropriate time.     Wu said some Taiwan people had doubts over the development of the cross-strait relations, and that KMT itself shares Taiwan people's wish for the island to take part in international activities.     However, the KMT was against some people's distortion of "Taiwan consciousness" into "Taiwan independence consciousness," he said.     Wu expressed hope that through expanded exchanges, reciprocal and win-win cooperation across the strait, the suspicion of some Taiwan people would be dissolved.     Hu said with regard to the question of Taiwan compatriots participating in international activities, the mainland side understood their feelings. According to the "common aspiration and prospects for cross-strait peace and development," Taiwan compatriots' participation in international activities would be discussed with priority given to participation of the World Health Organization's (WHO) activities after the cross-strait consultations were resumed.     "I believe that if two sides can work together and create conditions, solutions will be found to these issues through consultation," Hu said.     He stressed that on developing cross-strait relations, the CPC has always adhered to the principal of safeguarding the fundamental interests of the Chinese nation and safeguarding the common interests of all Chinese people, including Taiwan compatriots.     "We care for, respect and believe in the Taiwan compatriots. As to the misunderstanding and suspicion harbored by some Taiwan compatriots concerning the cross-strait relations, we will not only give our understandings but also take active measures to dissolve them," he said.     To realize the peaceful development of cross-strait relations, the more people unite with us, the better, he said.     Wu said the two parties needed to continue strengthening exchanges and dialogues in the future, hold economic, trade and cultural forums or peace forums at appropriate time, and continue to have inter-party exchanges at the grassroot level, so as to make the two parties' exchange platform more solid and impact more far-reaching.     After the cross-strait consultations resume, Wu said, the regularized consultations between the two sides and the two parties' exchange platform should play roles at the same time.     Wu expressed hope that the two parties would make joint efforts and together with the compatriots from across the strait, create peace, promote stability and development and share prosperity.     Hu stressed that under the new circumstances, the two parties should expand exchanges and bring the role of exchange platform between the two parties into full play.     He expressed hope that the two parties can bear in mind the welfare of compatriots across the strait and the fundamental interests of the Chinese nation, unswervingly promote the peaceful development of the cross-strait relations, and make joint efforts to realize the great rejuvenation of the Chinese nation.     Also present at the meeting were senior mainland officials including Wang Qishan, Ling Jihua, Wang Huning, Dai Bingguo and Chen Yunlin.     Hu hosted a banquet for Wu and his delegation after the meeting.

BEIJING, Aug. 31 (Xinhua) -- The 6.1-magnitude quake that jolted southwest China's Sichuan and Yunnan provinces on Saturday has killed 32 people, according to the Ministry of Civil Affairs.     Sichuan reported 27 deaths and the other five were in Yunnan, the ministry said Sunday night.     The quake that occurred at 4:30 p.m Saturday also injured more than 400 people.     The epicenter was at the juncture of Renhe District in Panzhihua and Huili County in Yi Autonomous Prefecture of Liangshan, Sichuan. It was at a depth of 10 km, the China Earthquake Administration said.     QUAKE IMPACT AND DAMAGE     Areas affected by the quake were Panzhihua and Huili, both in Sichuan, and Yi Autonomous Prefecture of Chuxiong, Bai Autonomous Prefecture of Dali, Lijiang and Zhaotong cities, all in Yunnan Province. Kunming, the Yunnan capital, was also hit.     Most of the fatalities, however, were in Huili, Chuxiong and Panzhihua. All the three areas are on the southern end of the fault line of the May 12 quake that left more than 69,000 people dead and nearly 18,000 missing.     Another 6.0-plus magnitude quake, however, was not expected in the area in the next two weeks, said Liu Jie, chief forecaster of the Beijing-based Chinese Seismographic Information Center, on Saturday.     More than 300 aftershocks were also monitored in the quake zone as of 5 a.m. on Sunday, according to the national earthquake networks.     The networks monitored an aftershock of 5.6 magnitude in the same area of Saturday's quake at 4:31 p.m. on Sunday. Staff members of a local hospital clear the ruins hit by the earthquake in Lixi Township, Huili County, southwest China's Sichuan Province, Aug. 31, 2008. An aftershock of 5.6 magnitude hit the juncture area of Renhe District in Panzhihua City and Huili County in Liangshan Yi Autonomous Prefecture on Sunday afternoon, one day after the 6.1 magnitude quake hitting the same area. The death toll of Saturday's quake has risen to 28, while no damage caused by the aftershock has been reported    Panzhihua City Quake Control and Relief Headquarters on Sunday confirmed more than 70,000 people in the city were affected by the quake. In addition, more than 32,000 people were displaced.     In total, 38,425 residences suffered damage in the quake, of which 363 homes were toppled. Seven reservoirs, 22 highways and three bridges were also damaged.     The Panzhihua education authority said cracks were found on the buildings of more than 100 schools, of which 66 were in Renhe, a hard-hit district in the city.     "I am afraid these schools will not open for the new semester starting on Monday," said Shen Zhiqiang, an official with the Panzhihua City bureau of education.     "The figure (of schools affected by the quake) might go up, as damages in some primary schools based in remote mountainous villages were not reported yet due to inconvenient transport conditions," Shen said.     Further south, 600,000 people in five regions of Yunnan were affected by the quake. This included five deaths, more than 170 injured people and the destruction of 130,00 residences, said a Yunnan Provincial Bureau of Civil Affairs source.     The worst hit was Chuxiong where the five deaths were recorded. Destroyed were 111,448 homes, 656 school buildings and 213 buildings totaling 65,554 square meters of floor space. The direct economic loss was put at 500 million yuan (about 73 million U.S. dollars), according to the office for the quake control and relief headquarters of Chuxiong.     RELIEF OPERATION     On Saturday, China Earthquake Administration launched a level-three emergency response and dispatched an on-site working team to offer assistance after the quake struck.     In addition, the Chinese Ministry of Civil Affairs began a level-four emergency response mechanism at 5 p.m.. The civil affairs departments in Panzhihua and Yunnan began a class-three emergency response to cope with the aftermath of the quake.     Panzhihua government officials rushed to the quake zone to direct relief efforts. Relief materials, including water, food and300 tents, as well as emergency financial aid of 5 million yuan, were sent to the quake-affected areas.     More than 2,000 people in Huili were mobilized to join the relief operation that was hampered by heavy rain late on Saturday and early Sunday.     In total, 1,200 tents, together with about 10 tons of food and water were sent to quake zones in Huili, according to Huang Ling, the Huili County Government deputy chief.     On Sunday, Sichuan Provincial Weather Observatory issued a forecast saying the weather in the coming week would be overcast with showers or thunder showers, making the relief effort difficult.     The Yunnan Provincial Bureau of Civil Affairs said it had already sent relief materials including 3,200 tents, 1,000 cotton-padded quilts and 25 tons of rice to quake zones in the province. Chuxiong Prefecture had also allocated 350,000 yuan for disaster relief.     The Jet Li One Foundation, initiated by Chinese film star Jet Li, earmarked 2.5 million yuan and donated materials worth 250,000 yuan on Sunday to the affected areas in the two provinces.     RESUMPTION OF DISRUPTED SERVICES     Traffic on the north-south rail line from Chengdu, the Sichuan capital, to Kunming, which runs all the way through the quake zone, was disrupted temporarily on Saturday and resumed on Sunday.     Some stops on the 1,100 km rail line were damaged, which led to the cancellation of three freight trains, a Kunming Railways Administration source said.     "Resumption of this railway service will guarantee the delivery of relief materials to the quake zone centered on Panzhihua," saida Kunming Railways Administration official.

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MIANYANG, Sichuan, May 22 (Xinhua) -- Ten days after the devastating earthquake in southwest China, six days after he returned to Beijing, Premier Wen Jiabao was back on the front lines of quake relief.     He flew to Mianyang in Sichuan Province, one of the worst hit cities, on Thursday afternoon. Upon arrival, he conducted a fly-over inspection by helicopter of a "quake lake," which is formed by landslides that block rivers.     People would have found him on the same tight schedule early this year as Wen visited the regions hit by the worst winter weather in 50 years four times in nine days.     The Hong Kong-based daily Ta Kung Pao said in a commentary: "Chinese premiers have developed an image of being caring and conscientious since late Zhou Enlai, the first premier of the People's Republic of China."     When a 6.8-magnitude earthquake rocked Xingtai, in the northern Hebei Province in 1966, Zhou rushed to the region and oversaw relief work, risking aftershocks, Du Xiuxian, a photographer of Zhou's era, recalled in his published photographic memoir "The Last Legends."     Wen has inherited that tradition of Chinese premiership. Chinese Premier Wen Jiabao (C) talks to local officials in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work. Two hours after the quake rocked Wenchuan County in the northwestern mountainous region of Sichuan Province, he was in theair.     As a large part of the country felt the tremors and experienced great shock, Wen promised the country in front of China Central Television (CCTV) camera that the government would lead the people to win the battle against the earthquake.     "Confronted with the disaster, we need composure, confidence, courage and an effective command," he said with a sober and steadfast attitude.     During the next four days, Wen set foot in almost all of the worst-hit counties, walking over rocks and tiles, comforting weeping children and encouraging rescuers.     He made it very clear that the top task at the initial stage was to save lives, and he pressed officials and troops very hard to implement rescue work.     Back in Beijing on May 16, Wen did not relax but hosted several key meetings on rescue and relief work.     Observers found that he has presided over at least 13 high-level meetings since the quake.     At these meetings, the topics under discussion ranged from big issues such as the top priorities of the relief task force to tiny details like milk powder for infants.     He stressed prevention of epidemics and handling of victims' corpses, told an expert team to give scientific and technical support to rescue and relief work, and worked out solutions to homeless survivors' problems.     While guidelines were set for relief work, detailed orders were made as well, such as to send 6,000 temporary houses within two days and order rescue teams to reach all remote quake-hit villages within 24 hours. Chinese Premier Wen Jiabao (R) shakes hands with a soldier in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work.Rehabilitation was also discussed and a directive was issued to fully consider the geological conditions and bearing capability of the local environment so as to balance cities and rural areas, industry and agriculture.     The focus has shifted from rescue to rehabilitation of quake survivors and their communities, he said Thursday while en route to Sichuan. The latter "will be a harder and long-term task," he said.     Chinese are captivated by what the premier has done.     Chen Hui, a middle-aged mother in Chongqing Municipality near Sichuan that was also affected by the quake, participated in a text message prayer campaign for Wen.     She sent a text message to her son in Beijing, saying: "The 66-year-old Premier Wen has worked really hard for quake relief. He has comforted and moved us. Pass this on your friends, pray for him."     Chen received the message from a friend. The campaign, whose organizer is unknown, aims to collect 1 million prayer text messages.     A compilation of scenes of Wen's visit to Sichuan is popular on-line and Netizens have created a forum called "Premier Wen, we love you."     "As one of China's senior leaders, the premier not only manages the government's daily work but also displays the ruling party's ideals and principles personally," Ta Kung Pao said. "A premier of China can not be copied elsewhere."

BEIJING, July 31 (Xinhua) -- China's military would increase cooperation with foreign armed forces in order to contribute more to common development, Defense Minister Liang Guanglie said on Thursday.     At a reception at the Great Hall of the People in Beijing to mark the 81st anniversary of the People's Liberation Army (PLA), Liang said, "China will take the road of peaceful development, unswervingly, and carry out an independent and self-reliant, peaceful diplomatic policy and a defensive defense policy, no matter how the international situation changes."     A member of the Central Military Commission (CMC) and a state councilor, Liang stressed the fundamental necessity of the Army's acceptance of "the absolute leadership of the Communist Party of China (CPC)". A reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. China would never take to hegemonism and expansionism and posed no threat to any other country, Liang said.     He noted the "positive changes" regarding the situation across the Taiwan Straits, while pointing out that pro-independence forces in Taiwan had never abandon their activities.     "We are strongly determined to oppose and curb the separatist activities of 'Taiwan independence' forces," he said.     The mainland would show its utmost sincerity and exert its greatest efforts for the welfare of Chinese compatriots on both sides of the Straits, to seek peace, safeguard China's sovereignty and territorial integrity, and safeguard the fundamental interests of the Chinese nation. A reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. Military officers of Foreign Embassies in China and their wives also attend the reception. Liang also praised the efforts of the armed forces during the severe winter weather chaos at the start of the year and after the May 12 earthquake.     The reception was attended by other CMC members, including Chen Bingde, Li Jinai, Liao Xilong, Jing Zhiyuan, Wu Shengli and Xu Qiliang, as well as foreign military attaches.     In August 1927, the CPC-led armed forces held an uprising against warlords, which is regarded as the founding day of the services. reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. Military officers of foreign embassies in China and their wives also attend the reception.

CHENGDU, June 21 (Xinhua) -- Jiang Xiaojuan, a policewoman who was well-known to the Chinese public for feeding infants with breast milk after the May 12 quake, has been officially promoted to a ranking post at a local police bureau, despite a nationwide controversy about the promotion.     Jiang was appointed a member of the Communist Party of China (CPC) Committee of the Jiangyou Public Security Bureau and the bureau's vice commissar on Thursday, an official surnamed Su from the organization department of the Jiangyou CPC Committee, Sichuan Province, told Xinhua on Saturday.     Jiang was currently on a speaking tour and would assume office as soon as she returned to Jiangyou, said the official.     Su denied media reports that the promotion had been suspended because of controversy. Jiang Xiaojuan, a policewoman, is feeding an infant with breast milk after the May 12 quake    Many people voiced objections when the Jiangyou government sought public opinion after making the promotion. They said an official position should not be used to promote a moral model.     "Such a promotion would fuel speculation activities," wrote a netizen dubbed "West Line" at the leading online forum forum.xinhuanet.com, while another netizen said promotion should depend on one's competence.     There were also many supporters of Jiang's promotion, saying that what she did showed she is a good public servant.     Su, the Jiangyou official, applauded the debate, saying "it shows the public are concerned on promotions of government officials and their enthusiasm for politics."     However, he said "we have gone through due procedures and believe she is qualified for her new post."     Jiang, 30, a mother of a six-month old, left her own baby with her parents and took part in the disaster relief work after the Sichuan quake.     Moved by the plight of babies separated from their mothers, she ended up breast-feeding nine of them. The pictures of her breast feeding spread across the country, which earned her a nickname "the police mum."     She has since been awarded laudatory titles of "hero and model police officer" and "excellent member of the Communist Party" by the Ministry of Public Security and the Organization Department of the CPC Central Committee.

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BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis.     The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said.     "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council.     "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua.     OUT OF SLOWDOWN CONCERNS     The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25.     Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint.     Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua.     Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October.     China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters.     Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses.     Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating.     The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February.     "Inflation is no longer a threat with the declining commodities prices," Tang said.     The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook."     TAX CUT TO BOOST DEMAND     In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday.     China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007.     The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences.     The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said.     GLOBAL COORDINATED RESPONSE     The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said.     Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis.     The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent.     Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions.     Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.

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BEIJING, June 6 -- Shareholders of China Vanke Co, the country's largest publicly traded property developer, have approved a decision to spend 100 million yuan to rebuild homes in quake-stricken Sichuan.     The company has been under fire from netizens since the earthquake after Wang Shi, its high-profile chairman, announced the real estate giant would donate 2 million yuan to the quake-hit areas and told his employees not to donate more than 10 yuan.    In the face of the ensuing barrage of criticism by the media and netizens, Wang apologized on his blog. At yesterday's meeting, he apologized to shareholders as well: "I want to apologize unconditionally to all shareholders, I won't try to defend myself."     Wang also admitted his comments about quake donations have damaged Vanke's brand image and he was sorry for that.     As a lesson from this episode, Wang said, Vanke would have a spokesperson in the future and try to desist from doing anything that hits its share prices, as it did this time. Workers rebuild a road between quake-hit Dujiangyan city and Wenchuan county."If Vanke's performance suffers because of my personal comments, I will resign immediately," said Wang.     Some shareholders, however, worry the apology may have come too late. "As a public figure, he should learn from this experience," said a shareholder who preferred not to be named.     Analysts said the meeting and Wang's apology will take some pressure off Vanke.     "It is not easy for a public figure like Wang Shi to apologize - either in public or in front of shareholders," said Zhang Luan, an analyst from Haitong Securities. Zhang said the decision of the shareholders to clear the funding also reflects the company's determination to contribute to the relief work in a big way.     Vanke's investments in Sichuan will be made over the next three to five years, Vanke had said in a previous statement to the Shenzhen Stock Exchange.     The May 12 earthquake in Sichuan province destroyed 5.4 million homes and damaged 21.4 million, according to the Ministry of Civil Affairs. More than 12 million people left homeless by the earthquake will have to be relocated.     "Vanke may build anti-quake homes there to broaden its property development," Bloomberg quoted Liu Xihui, a real estate analyst at Pingan Securities Co, as saying. "More developers may follow suit."     Vanke rose 4.7 percent to 20.5 yuan in Shenzhen trading on Wednesday. The stock has dropped 29 percent this year after almost tripling in 2007. Trading was suspended yesterday because of the meeting.

BEIJING, May 25 (Xinhua) -- All the barrier lakes (or quake lakes) formed after the massive May 12 earthquake in southwest China's Sichuan Province are "under control" but the situation is still grim, said Vice Minister of Water Resources E Jingping on Sunday.    Heavy rains forecast for the area over the next three days are a major threat, as the additional water build-up in the lakes could cause the landslide barriers that formed them to burst, flooding nearby areas, E told a news conference. Liu Ning, chief engineer of China's Water Resources Ministry, briefs the media on the emergency control of the Tangjiashan imprisoned lake in Beichuan County, southwest China's Sichuan Province, after a news conference in Beijing, capital of China, May 25, 2008.The 8.0-magnitude earthquake, aftershocks and landslides created 35 such lakes, with 34 in Sichuan, posing a new danger to more than 700,000 of the people who survived the deadly quake, thevice minister said.     E admitted that these lakes posed a challenge for the government's efforts to prevent secondary disasters in the quake regions.     The biggest concern is the Tangjiashan lake, the largest of the34 quake lakes in Sichuan, whose water level rose by nearly 2 meters Saturday to 723 meters, only 29 meters below the lowest part of the barrier.     About 1,600 armed police officers and People's Liberation Army soldiers were hiking on Sunday toward the Tangjiashan lake, hoping to blast away its landslide barrier before it bursts and causes a flood.     Earlier attempts to send military helicopters on the same mission were hampered by adverse weather and low visibility at the lake.     The ministry has drawn up evacuation plans for communities downstream of the 19 quake lakes at high risk of bursting, E said. He did not provide an estimate of the people who might have to move.     The massive earthquake also left 69 reservoirs in danger of collapse in Sichuan. Another 310 reservoirs were in "highly dangerous" situations and more than 1,400 posed a moderate risk, according to E.     Steps have been taken to tackle the problem, E said, such as completely draining the 69 collapse-prone reservoirs, lowering water levels at 826 others and putting all the damaged reservoirs under 24-hour observation.     The ministry wants to fix the reservoirs in the "highly dangerous" and more risky categories before July, when the rainy season is expected to start in the quake regions, he said.     Priority has been given to the Zipingpu dam, which is only 17 kilometers from the quake epicenter of Wenchuan County and would threaten 11 million lives on the downstream Chengdu Plain if it collapsed, E said. However, he said, the dam was structurally stable and safe despite some minor damage.     Meanwhile, 803 hydropower stations were damaged in the quake nationwide, including 481 in Sichuan.