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ATHENS, Nov. 26 (Xinhua) -- Chinese President Hu Jintao finished the last leg of his five-nation trip here on Wednesday and embarked on his way home.     The trip, which began on Nov. 14, took him to a financial summit in Washington and the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima.     He also paid state visits to Costa Rica, Cuba, Peru and Greece.     At the Washington summit, the Chinese leader outlined China's propositions on responding to the international financial crisis, explained major measures adopted by the Chinese government to ensure financial stability and economic development, and made proposals on reforming the international financial system.     At the APEC meeting, President Hu made proposals on furthering Asia-Pacific regional cooperation in dealing with the world financial crisis, the Doha Round of WTO negotiations, food and energy security, and other pressing issues facing the world and the region.     During his state visits to Costa Rica, Cuba, Peru and Greece, the Chinese president and leaders of the four nations exchanged views on the further development of bilateral relations and reached broad consensus on expanding friendly and mutually beneficial cooperation.     In Lima, Hu and his Peruvian counterpart Alan Garcia announced the conclusion of a bilateral free trade agreement (FTA) and the upgrading of bilateral ties to a strategic partnership.

BEIJING, Dec. 17 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday called for a healthy development of the country's real estate market at an executive meeting of the State Council, or the Cabinet.     A document released after the meeting said the recently-adopted domestic demand expansion and economic stimulus policies had positive impact on the property market. Trading volumes in some cities were picking up.     At present, efforts should be made to keep market-oriented in developing real estate, step up building of houses for low-income families, encourage housing transactions and maintain a reasonable scale of real estate development.     The document said governments would spend three years to build houses for 7.5 million low-income families in urban areas and 2.4 million households in shanty towns in forests, reclamation areas and coal mines. They would also continue renovating aged buildings in rural areas.     The central government would keep financing these building and renovating projects, offer higher subsidies for the less developed central and western regions and carry out pilot projects in some area to test the feasibility of supporting construction with idle funds in local housing provident fund accounts.     In a bid to encourage transaction, second-home buyers, with per-capita room-at-home lower than the local average, would be allowed to enjoy favorable policies for first-time house buyers.     Tax on house transactions would also be reduced next year. Homeowners who had lived-in for more than two years would be exempted from a transaction tax, which had been levied on houses lived in for less than five years. For those who had lived-in for less than two years, the base of tax would be transaction price minus the original price.     Banks should lend to developers of low-price apartments, especially those under construction, and offer services for mergers by credible developers.     The central government demanded local authorities keep a close eye on the real estate market, find new problems in time and step up supervision on use of subsidies and quality of construction projects.

BEIJING, Jan. 18 (Xinhua) -- The State Grid Corp. of China (SGCC), the country's biggest power supplier, said Sunday that its 2008 net profit fell almost 80 percent year on year due to natural disasters and higher power prices.     Net profit was 9.66 billion yuan (1.4 billion U.S. dollars), compared with 47.1 billion yuan in 2007.     Revenue rose 13.8 percent to 1.156 trillion yuan from a year earlier, the state-owned company noted.     The power distributor suffered more than 22 billion yuan (3.2 billion U.S. dollars) of direct economic loss in the worst winter weather in at least 50 years in southern China and the May 12 earthquake.     China raised the on-grid power price by 0.017 yuan per kwh in June and 0.02 yuan kwh in August to around 0.3 yuan per kwh on average to offset rising costs in power plants. But retail household power prices were capped amid concerns of a higher inflation.     The company said it planned to invest 83 billion yuan (12 billion U.S. dollars) in ultra-high voltage (UHV) power lines in 2009 and 2010 to make long-distance transmission more efficient.     China's power demand and installed power generating capacity would likely double to 7.4 trillion kwh and 1.47 billion kw respectively in 2020, it forecasted.

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BEIJING, Jan. 11 (Xinhua) -- Four U.S. ambassadors in Beijing on Sunday eyed a continued China policy under the Obama administration.     "I am optimistic that U.S-China ties will continue to improve and remain steady in the years ahead. In fact, they are getting better," former U.S. ambassador to China James Sasser told reporters on the sidelines of a reception marking the 30th anniversary of China-U.S. diplomatic relations.     Sasser was one of about 200 personages from the two countries attending Sunday's reception, held in the U.S. new embassy in Beijing.     Sasser, who served as ambassador from 1996 to 1999, said he didn't see "significant tensions" in current bilateral relations and believed there would be more improvements in the years ahead.     Echoing Sasser's view, another former U.S. ambassador to Beijing Winston Lord said, "Overall, the American policy with China will remain essentially the same under the Obama administration."     "If you look at what Obama has been saying about U.S.-China relations, look at what type of people he has been appointing to key foreign policy positions, these suggest great continuity," said Lord, who was one-time aide to Secretary of State Henry Kissinger and part of the U.S. delegation during Richard Nixon's ground-breaking visit to China in 1972.     "We had 7 presidents since President Nixon, both democratics and republicans. All of them have pursued essentially the same policy with respect to China," said Lord, who served as ambassador to China between 1985and 1989.     "It doesn't mean we won't have problems. But I think interests are much bigger than our problems," he said.     Stapleton Roy, who served as ambassador in Beijing from 1991 to 1996, said the Obama administration would continue to cooperate with China. "There are so many issues the two countries have to deal with in the world. The have to work together."     Looking to the future, Roy said the most serious issue the two countries have to deal with is the economic crisis. He called for the two countries to work more closely and take concerted actions.     "In 1979, who among us would have thought that 30 years later the United States and China would be meeting regularly on regional hot spots in third countries or they would be working together to deal with the world financial crisis," current U.S. Ambassador in Beijing Clark Randt told the reception.     As a metric of the development of bilateral relations, Randt said there were 36 Americans working in the U.S. embassy in Beijing in 1979.     "In October 2008, when we moved to this new building, we had a staff of 1,100, the second biggest U.S. embassy in the world," Randt said.     "The new embassy itself was a tangible expression to the importance of the development of U.S.-China relations, the most important bilateral relationship in the world."     As the world gets more complicated, Randt said interdependence and complementariness between the two countries would become even more important and the relationship would continue to get better.

FUZHOU, Nov. 21 (Xinhua) -- Construction on a new nuclear power plant started Friday in southeast China's Fujian Province.     The Fuqing Nuclear Power Plant, located in the coastal city of Fuqing, requires an investment of around 100 billion yuan (14.6 billion U.S. dollars).     It will have six units that generate millions of kilowatts each.     During the first phase of the project, two units will be built and put into operation in 2013 and 2014. They will use advanced second-generation pressurized water reactor technology. The two units are expected to generate more than 14 billion kilowatts of electricity annually, most of which would be consumed within the province. Chinese Vice Premier Li Keqiang (C) shakes hands with project representatives during the inauguration ceremony for the construction of the Fuqing Nuclear Power Plant in southeast China's Fujian Province Nov. 21, 2008    "Nuclear power is a kind of clean, efficient and reliable new energy," said Vice Premier Li Keqiang during the plant's inauguration ceremony. "To develop nuclear power is important for improving the country's energy structure and security."     China National Nuclear Corporation, Fujian company of China Huadian Corporation and the government-funded Fujian Investment & Development Co. Ltd. will jointly build and operate the plant.     The three companies have a stake of 51 percent, 39 percent and 10 percent, respectively, in the new plant.     An unidentified local government official said three billion yuan has already been spent since preparation work for the project started in 2007.Another five billion was planned for 2009.     The project is expected to create more than 10,000 jobs.     Currently, China has 11 nuclear power reactors in operation. All reactors employ second-generation nuclear power technologies.     The country plans to have 40-million-kilowatts of installed capacity in nuclear power by 2020, accounting for four percent of China's energy production.     Right now, installed capacity of nuclear power is only about nine million kilowatts, or about two percent of the total power the country produces.

BEIJING, Jan. 2 (Xinhua) -- Chinese netizens have made their voices heard more loudly and their presence better recognized in headline news events over the past year.     When the Beijing Olympic torch relay overseas was disrupted in April, almost all the Chinese msn messenger users posted "I love China" beside their names, a move that looked "overwhelming" to Kevin, a French man who was living in Shanghai at the time.     As to domestic affairs, netizens did not sit aloof. After the dairy scandal emerged in September, netizens' strong criticisms finally led to the resignation of Li Changjiang, then director of the General Administration of Quality Supervision, Inspection and Quarantine.     Yan Jirong, professor at Peking University's School of Government, said this incident showed the government was paying attention to public voices on the Internet.     A report released by the Chinese Academy of Social Sciences on Dec. 2 showed about 206 million Chinese use the Internet as their main source of news.     According to the China Internet Network Information Center, under-30s are the majority of online news readers, accounting for about 69 percent of total Internet users.     On June 20, Hu visited the Qiangguo Forum, which is affiliated to people.com.cn, and chatted with netizens. Hu's visit drew so many clicks that it almost crashed the site.     Premier Wen said frankly at a press conference on March 18 that he had been using the Internet to listen to netizens' opinions and suggestions during the annual sessions of the National People's Congress, the top legislature, and the National Committee of the Chinese People's Political Consultative Conference, the top advisory body.     Fans of the two leaders started to post suggestions and support to the two leaders at beginning of July on a bulletin board of the people.com.cn, a website of the People's Daily.     It was prompted by affection for Hu and Wen after seeing how they dealt with the May 12 earthquake, the fans said in their postings.     After the magnitude-8.0 earthquake struck the southwestern Sichuan Province and the neighboring provinces on May 12, the two officials paid repeated visits to the devastated areas and impressed netizens with moving behavior and words.     Some scholars said bluntly that the Internet had indeed built a direct link between the grassroots and the central power.     Local officials, on the other hand, are going a step further to write blogs and hold debates with netizens on hot issues.     Li Ou, vice mayor of Siping in the northeastern Jilin Province, has been hailed by netizens as being the most active mayor who uses his real name to debate with netizens on social affairs.     Li's blog was selected as one of the "top 10 blogs of 2008" in a poll by the People's Daily based on the votes from millions of netizens.     Another local official, Liao Xinbo, deputy director of the Department of Public Health of the southern Guangdong Province, was also on the list. His blog was picked for pointing out the keyto China's new medical reform plan which is likely to be issued in January, reported the People's Daily.     Liao wrote on Dec. 25 that China should learn from other countries, such as Cuba, in drafting the long-delayed medical reform plan.     "The government is seeking new ways for the public to voice opinions," said Yan.     A survey taken by the China Youth Daily's poll center showed about 72 percent of those responding hoped the Internet would be anew path to democracy. More than half of those surveyed said the exchanges on the Internet helped to bring the government closer to the public.

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BERLIN, Jan. 28 (Xinhua) -- Chinese Premier Wen Jiabao arrived in the German capital Berlin late Wednesday for an official visit to the country.     The premier is scheduled to meet with German Chancellor Angela Merkel and Vice Chancellor Frank-Walter Steinmeier on Thursday to discuss bilateral relations and further cooperation between the two nations amid the global financial downturn.     Upon his arrival, Wen said in a statement that currently Sino-German relations are faced with a sound opportunity of development.     The two nations have maintained frequent high-level contacts, and economic and trade cooperation has been expanding steadily, Wen said.     Both sides also witnessed fruitful dialogues on such fields as science and technology, education, culture, and youth exchanges, he noted.     Bilateral consultation and coordination on international affairs have also been strengthened, he added.     The premier expected his meeting with Merkel would further enhance mutual trust and broaden consensus between the two nations.     Wen also expressed the belief that his visit will further push forward the Sino-German partnership, which bears a global responsibility.     Meanwhile, the premier, on behalf of the Chinese people, extended Chinese lunar new year greetings and good wishes to the German people.     During his two-day visit to Germany, Wen will also attend a forum on Sino-German economic and technical cooperation and deliver a speech.     Germany is the second leg of Wen's European tour after Switzerland, where he attended the annual meeting of the World Economic Forum (WEF). The trip will also take him to the European Union headquarters, Spain and Britain. 

BEIJING, Oct. 31 (Xinhua) -- Chinese shares dropped 1.97 percent on Friday, the month's last trading day.     The benchmark Shanghai Composite Index lost 1.97 percent, or 34.82 points, to close at 1,728.79. The Shenzhen index was down 1.19 percent, or 70.33 points, to close at 5,839.33 points.     The combined turnover was 35.23 billion yuan (5.03 billion U.S.dollars), compared with 49.35 billion yuan on the previous trading day. Losses outnumbered gains by 656 to 199 in Shanghai and 576 to151 in Shenzhen.     Almost all sectors fell except industries related to aircraft making after the Commercial Aircraft Corporation of China Ltd. (CACC) announced Chinese indigenous regional jets would be sold to the United States, analysts said. CACC is not a publicly traded company.     Coal companies suffered the most losses. Kailuan Clean Coal Co.lost 7.21 percent to 10.3 yuan. Taiyuan Coal Gasification Company fell 4.34 percent to 7.50 yuan.     "I don't think the fall was related to recent mine accidents. It was a reflection of diminishing global energy demand," said Alex Xue, analyst with JL McGregor & Company.     The finance sector also dropped by an average of 3 percent. CITIC securities lost 2.46 percent to 17.84 yuan. Bank of Communications fell 4.20 percent to 4.33 yuan.     According to estimates from Friday's China Securities News, third-quarter profits of the country's 1,466 listed companies would fall 10.17 percent from the same period a year ago and 18.41 percent from the previous month to 206.09 billion yuan.     Operating net cash flow fell 51.75 percent to 827.4 billion yuan in the first three quarters. Analysts said rising material costs and weakening demand led to slumping profits.     The country's industrial output value growth slowed to 11.4 percent in September, the lowest rate since April 2002, the National Development and Reform Commission said on Thursday.     Despite the latest rate cut, which was viewed as helpful to stabilizing the stock market, analysts said the market could possibly continue falling. The long-term affects from the rate cut are yet to been seen.

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BEIJING, Jan. 25 (Xinhua) -- Many Chinese received a smaller bonus this year because of the global financial crisis and decided to tighten their belts - but they still let their hair down for the traditional Spring Festival.     The freezing weather and slowdown in economic growth did not affect Chinese people's festivities, with supermarkets and shopping malls crowded with shoppers seeking goods for the Spring Festival celebration.     Even dairy products, which have experienced shrinking sales because of the melamine scandal, were selling.     Milk powder products of domestic brands have reappeared on the shelves, a Xinhua reporter found in Wal-Mart at Xuanwumen, Beijing.     "This is the safest period for dairy products as the government has intensified quality supervision and inspection after the scandal," said saleswoman Qiao Xinhong.     Many Chinese people like to buy boxed milk or yogurt for family reunions or as gifts to friends and relatives during the holiday.     Dairy products, however, were only one part of people's shopping list, and snacks with wider varieties, clothes, jewellery and home appliances were also popular.     The week-long Spring Festival holiday, which starts from Sunday, is China's closest equivalent to the West's Christmas shopping season.     According to the Ministry of Commerce, sales at the country's major retailers on Thursday were 2.4 times as much as that on December 31.     China's real retail sales growth in December accelerated 0.8 percentage points from November to 17.4 percent, according to figures released by the National Bureau of Statistics (NBS) Thursday.     Retail sales jumped by 21.6 percent last year to 10.8 trillion yuan (1.6 trillion U.S. dollars), which was 4.8 percentage points higher than 2007.     The booming Chinese market has become more attractive to foreign retail giants, who have suffered from weak demand caused by the global financial crisis.     "Although the global financial crisis has weighed on China's economy, the fundamental of the country's economy remains unchanged and we are very optimistic about the prospects for the Chinese market," Britain's largest retailer Tesco told Xinhua in an email.     Sales in the rural market, which is believed to have the great potential to boost domestic demand, has reported month-on-month increases since May. November retail sales in rural areas rose 18.3 percent, 8.2 percentage points higher compared with the same period of 2007 and for the first time surpassed urban consumption growth.     Wei Wanqian, a farmer in eastern China's Shandong Province, was busy with the last-minute preparations to celebrate the Spring Festival. He bought a new tractor earlier this month.     "Boosting domestic demand should be the government's major taskof economic work," said Zuo Xiaolei, senior analyst at the Beijing-based Galaxy Securities.     "Effective boosting measures along with the improvement of social security system will accelerate the consumption growth by two to three percentage points this year," Zuo said.     The State Council, or the Cabinet, has taken an array of measures to enhance domestic consumption. These included improving the rural distribution network, promoting the subsidized home appliance program and boosting festival consumption.     More detailed measures would come out in March during the delivery of the government work report, sources said.     Although the impacts of global financial crisis were still unfolding, some positive signs surfaced in December economic date, officials and analysts have said. These included the figures on money supply, consumption and industrial output.     Whether the "positive changes" represented a trend was unclear, NBS director Ma Jiantang said.

BEIJING, Dec. 8 (Xinhua) -- China's annual Central Economic Work Conference opened here Monday to set tone for the economic development next year.     Observers believed the three-day event would give priority to efforts to maintain stable economic growth.     They reckoned in 2009, China would see more risks for worse economic slowdown, more struggling smaller businesses, grim export situation and arduous task of transformation of economic growth pattern.     "It is imperative for China to maintain an economic growth of at least 8 percent," said Zhuang Jian, senior economist with Asian Development Bank's China Resident Mission.     It was hard for China to bear the consequences of a too slow GDP growth, Zhuang added, citing bankruptcy of numerous enterprises, more migrant workers being laid off and difficulties for college graduates to find jobs.     China's macro-economic policies experienced a dramatic adjustment-- from "preventing economic overheating and curbing inflation" at the beginning of this year to "maintaining growth through expanding domestic demand" at present. In the first three quarters, the nation saw its GDP growth slowed to a single-digit rate for the first time over the past five years, thanks partly to macro-economic control efforts and the ongoing financial woes worldwide.     "The Chinese economy has suspended continuous heating and proceeded into a period of slow down," Zhang Liqun, a researcher with the macro economy department under the Development Research Center of the State Council, commented.     "The slowdown was worse than expected," said Ma Jiantang, head of the National Bureau of Statistics.     Data from the bureau showed that the country's GDP growth was 10.6 percent in the first quarter, 10.1 percent in the second, and9 percent in the third.     President Hu Jintao said at the end of November that the Chinese economy was pressurized by global economic downturn, obvious ebbing of demand from abroad and weakening of the country's traditional competitive edge.     "Impact from the international financial tsunami on the Chinese economy has begun to show up, and to deepen into various sectors of the real economy," said Wang Yiming, deputy head of the macro economic research institute of the National Development and Reform Commission.     Since mid October, the Central Government has promulgated a string of policies and measures to prevent the national economy from sliding drastically. They included end of a tight monetary policy and commencement of a moderately easy one, shifting the fiscal policy from "prudent" to "active", starting projects to improve infrastructure and promote people's livelihood, and, expanding domestic demand.     The People's Bank of China announced tax exemptions and downpayment cuts as of Oct. 27 to boost the falling real estate sector. The minimum downpayment for a first-time buyer of a residence smaller than 90 square meters was reduced to 20 percent from 30 percent.     Interest rates on mortgages for first-time buyers were cut 0.27percentage point. The floor for interest rates was lowered to 70 percent of the central bank's benchmark rate.     The central bank cut benchmark interest rates by 0.27 percentage point as of Oct. 30, the third such move in six weeks.     The benchmark one-year deposit rate dropped to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate fell from 6.93 percent to 6.66 percent.     Tax rebates were raised for 3,486 export items as of Nov. 1. The adjustment covered such labor-intensive industries as textiles, toys, garments, and high-tech products, accounting for 25.8 percent of products covered by customs tariffs. Rebate rates run roughly from 9 percent to 14 percent.     On Nov. 9, state councilors announced a four-trillion-yuan (583.9 billion U.S. dollars) economic-stimulus package, which was seen as the most exciting stimuli in 10 years.     To boost consumption, particularly in the rural areas where 900 million people inhabited, was important part of efforts to expand domestic demand, observers believed.     China has launched a scheme to subsidize rural residents for buying home appliances since the end of 2007. It is estimated that in a period of four years, nearly 480 million units of refrigerators, washing machines, color TV sets and cell phones, which were in huge demand among farmers, will be sold in rural areas nationwide. That means 920 billion yuan to be spent by rural consumers.     "There is still a large room for the government to mull more policies to boost consumption, such as raising the threshold for taxable income and increasing income for lower-income earners," said Cai Zhizhou, an economist with the prestigious Peking University.     Export has since long been a major driving force for the Chinese economy. Economists believed the stable development of smaller enterprises, particularly the exporters, which provided jobs for 75 percent of urban employees and rural migrant workers, was related to the stability of the enormous Chinese labor market.     How to prevent export from sliding down too fast is one of the top concerns of the Chinese government.     "It is no doubt that China's export situation will become more grim next year. However, if the country manages to maintain a moderately fast growth in foreign sales of machines and electronics, it will likely achieve a growth of more than 15 percent in export at large," said Mei Xinyu, a trade expert with the Ministry of Commerce.     China has taken a string of measures to boost development of smaller enterprises.     "It is necessary for the government to work out more detailed, effective methods to mitigate tax burdens and enhance credit support for smaller businesses, and to help them with their efforts to promote technical upgrading and explore more markets," said Zhao Yumin, another economist with the Ministry of Commerce.     The service sector, which was able to provide numerous jobs, was yet to be expanded substantially, Zhao added.     Zhang Xiaojing, a senior economist with the Chinese Academy of Social Sciences, said that it was definitely wrong for China to waive long-term goals for short-term interests. He believed that to promote the shift of economic growth pattern and maintain the sustainable economic growth would be one of the important topics for the ongoing Central Economic Work Conference.