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BEIJING, March 6 (Xinhua)-- China has named its first home-made jumbo jet C919, which will take off in around eight years, its chief designer Wu Guanghui said on Friday.     "C represents China as well as COMAC, the abbreviation for Commercial Aircraft Corporation of China, Ltd," said Wu, who is also the deputy general manager of COMAC, the manufacturer of C919.     "The name also reflects our determination to compete in the international market for jumbo jet. C919 comes after Airbus and Boeing, so you will have ABC in the aviation industry," said Wu, apolitical advisor who is here attending the annual session of 11thNational Committee of the Chinese People's Political Consultative Conference.     The first 9 in the name implies forever in Chinese culture, while 19 means the first jumbo jet produced by China will have 190seats, he said.     Wu said that his company will choose suppliers of engines, airborne equipment, and materials through international bidding, and will encourage foreign suppliers to enter into partnership with Chinese manufacturers.     "We will choose foreign-manufactured products like engines at the beginning phase, but we will also independently do the research and manufacturing work at the same time," noted Wu.     The Shanghai-based COMAC was set up in May, 2008 after approval in early 2007 by the State Council, China's Cabinet. It has a registered capital of 19 billion yuan (2.78 billion U.S. dollars), with the State-owned Assets Supervision and Administration Commission as the biggest shareholder.     Wu said the jumbo jet project now involves 47 institutions from China and abroad, and that the preliminary general technical design plan and commercial feasibility study have been completed.

NANJING, Feb. 3 (Xinhua) -- China's Vice Premier Wang Qishan said on Monday that the country should take advantage of the rare opportunity to expand the outsourcing industry.     The State Council has identified 20 pilot cities to take part in a program that offers perks to businesses that opt to participate in outsourcing. The program will help ensure economic growth, industry restructuring and the job promotion -- notably for the college graduates, according to Wang in an industry meeting held on Monday in the east city of Nanjing.     The government would offer more support in tax breaks, financing, and vocational training, Wang said.     The Vice Premier noted it was important to nurture China's outsourcing industry, and local governments should create sound legal conditions to pave the way for the industry expansion.     Twenty cities, including Beijing, Shanghai, Xi'an, Suzhou and Hangzhou, have been designated for pilot service outsourcing programs. Beginning Jan. 1, these companies are eligible for tax breaks, financial support, subsidies and intellectual property rights protection, the Ministry of Commerce (MOC) said on Monday.     More multinational companies and financial institutions, hard hit by the global financial crisis outsource their business to less costly regions. This creates an opportunity for Chinese outsourcing companies, said vice minister of MOC Ma Xiuhong.     McKinsey, the New York based consultancy, said in a report last month that China posted rapid growth in the business but was lagged behind India, whose market value was nine times that of China.     The report said that despite the challenges, China still had potential to become the main outsourcing destination in the future.

RIYADH, Feb. 11 (Xinhua) -- Visiting Chinese President Hu Jintao said Wednesday that China will seek an early free trade agreement (FTA) with the Gulf Cooperation Council (GCC).     "The FTA is in the fundamental and long-term interests of both sides and will help deepen their mutually beneficial cooperation and achieve common development," Hu said during a meeting with GCC Secretary General Abdul Rahman Al-Attiya in Riyadh, where the council is headquartered.     "China will work actively toward signing the agreement at an early date," Hu said. Chinese President Hu Jintao (R) shakes hands with Abdul Rahman Al-Attiyah, secretary general of the Gulf Cooperation Council (GCC), in Riyadh, capital of Saudi Arabia, Feb. 11, 2009. Hu is in Saudi Arabia for a state visit    Al-Attiya echoed Hu's views and pledged efforts to complete the FTA talks as soon as possible.     China and the GCC launched FTA negotiations in July 2004, and the first round of the talks took place in April 2005.

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BEIJING, March 20 (Xinhua) -- China and Japan should strengthen cooperation to deal with the financial crisis, said Chinese top legislator Wu Bangguo on Friday.     "China is willing to work with Japan to properly handle sensitive issues in bilateral relations and consolidate our political foundations," said Wu, chairman of the Standing Committee of the National People's Congress.     In a meeting with Japanese Defense Minister Hamada Yasukazu, Wu said China-Japan relations were improving and cooperation in various fields have expanded. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Japanese Defense Minister Yasukazu Hamada at the Great Hall of the People in Beijing, capital of China, on March 20, 2009    Stressing the importance of China and Japan in the Asia-Pacific region, Wu said developing relations conformed to the fundamental interests of both countries and was conducive to world peace, stability and development.     He hoped China and Japan would expand defense and other cooperation to push forward long-term, healthy and stable relations.     Hamada Yasukazu said Japan would like to enhance strategic and mutually reciprocal relations with China.

DAKAR, Feb. 13 (Xinhua) -- Visiting Chinese President Hu Jintao held talks with his Senegalese counterpart Abdoulaye Wade in Dakar on Friday to discuss promotion of friendly and cooperative ties between China and the West African nation.     Hu said the bilateral relations have made progress in various fields since the resumption of diplomatic ties in 2005, and facts have proved that the China-Senegal friendship is in the fundamental interests of both nations and will have a promising future.     To cement bilateral cooperation and seek more tangible benefits for the two peoples, Hu proposed both nations keep exchange of high-level visits and deepen political trust, and increase communications and cooperation between the two governments, legislatures, ruling parties and local authorities so as to lay a solid political foundation for bilateral ties.     On the economic front, Hu suggested establishing a bilateral economic and trade steering committee to plan and monitor trade cooperation.     China would like to facilitate Senegalese corporations' efforts to do business in and expand their exports to China, and the Chinese government will encourage Chinese businesses and the China-Africa Development Fund to cooperate with Senegalese businesses, Hu said. Visiting Chinese President Hu Jintao (L) meets with his Senegalese counterpart Abdoulaye Wade in Dakar, capital of Senegal, Feb. 13, 2009    Hu called on non-governmental organizations in both nations to increase exchanges, seek multiple forms of cooperation and enhance mutual understanding.     On international issues, Hu said China values the positive role that Senegal has played in African and international issues, and would like to step up consultation and coordination with Senegal in the United Nations, the World Trade Organization and other organizations, in a bid to safeguard the legitimate rights of developing countries and to promote South-South cooperation and South-North dialogue.     Hu said China will keep its promise made at the Beijing Summit of the China-Africa Cooperation Forum in November 2006 and will not reduce its aid to Africa as a result of China's efforts to address the global financial crisis.     China will urge the international community to pay attention to the difficulties the crisis has brought to Africa and to increase Africa's representation and voice in reforms of the international financial system, Hu said, adding that China would like to further communicate and coordinate with Senegal and other African countries to tide over the crisis.     Wade said he was satisfied with the bilateral cooperation since the resumption of diplomatic ties as China has fully honored its commitments and China-aided programs have been going on smoothly.     He appreciated China's generous support for Senegal in the sectors of infrastructure, agriculture, culture, education and public health.     After the talks, the two presidents witnessed the signing of a number of cooperation deals.     Senegal was the third leg of Hu's five-nation tour. The first-ever visit by a Chinese president was warmly welcomed by local people, with the streets from the airport to downtown Dakar being lined up with Chinese and Senegalese flags and welcoming crowds.

BEIJING, March 10 (Xinhua) -- Lhasa is stable, and troops there are in normal state, said Qiangba Puncog, chairman of the Tibet regional government, on Tuesday.     "I was told in a phone talk with Lhasa in the noon that the whole city is stable and troops are in normal state as usual," he said in Beijing after a plenary meeting of the National People's Congress.     He told Xinhua that he absolutely agrees with President Hu Jintao's remarks on Monday when Hu called for a "Great Wall of stability in Tibet."     "It (Hu's call) is a good and long-term consideration," said Qiangba Puncog.     On March 10, 1959, an armed rebellion was staged by the upper ruling class in Tibet in an attempt to preserve the old serfdom. The rebellion was quickly foiled by the People's Liberation Army, and the central government then decided to begin a democratic reform which put an end to serfdom and the theocratic regime.     Qiangba Puncog said that the ** Lama and his secessionists clique have kept on smearing the central government and the Tibetan regional government over the past 50 years, but time and facts would prove what they said are nothing but purely lies.     "They always lie that more than 1 million Tibetans had been killed in the past 50 years, but the truth is that the population in Tibet increased from 1.2 million in 1959 to 2.87 million in 2008," he said, adding Tibetans and people from other ethnic minorities now account for more than 95 percent of the population in the autonomous region.     "The fabrication of the so-called 'genocide' in Tibet has become a stock-in-trade for them to cheat the world," he said.

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WASHINGTON, March 11 (Xinhua) -- The U.S. House of Representatives on Wednesday adopted a resolution on Tibet in gross interference in China's internal affairs.     The resolution neglected the remarkable and widely recognized progress in Tibet in politics, economy, culture and society over the past 50 years.     It also repeated groundless accusations against the Chinese government over its Tibet policy and voiced support for the ** Lama's separatist activities.     Chinese Foreign Ministry spokesman Ma Zhaoxu urged the U.S. representatives Tuesday to follow the basic norms guiding international relations and stop pushing the bill on Tibet.     "The Tibet issue is purely China's domestic issue. The Chinese government and people, as always, oppose any country or anyone to interfere in China's internal affairs on the pretext of the Tibet issue," he said.     This year marks the 50th anniversary of the end of feudal serfdom in Tibet.     Fifty years ago, the central government of China foiled an armed rebellion by the ** Lama and his supporters to block reform in Tibet and split the region from China.     On March 28, 1959, a new local Tibetan government was formed, freeing millions of Tibetan serfs and slaves, who accounted for more than 90 percent of the then population.     "Over the past 50 years, Tibet has undergone profound changes in political, economic and cultural sectors and millions of serfs have become owner of Tibet," Ma said.     However, with the backing of certain anti-China elements in the West, the ** Lama and his followers have continued to pursue either disguised or undisguised activities in an attempt to separate Tibet from China and restore feudal serfdom in the region.     On March 14 last year, followers of the ** Lama staged riots in Lhasa to put pressure on the central government. Their violence resulted in the deaths of 18 civilians and huge property losses.

TAIPEI, April 20 (Xinhua) -- Taiwan authorities has temporarily raised the daily quota of mainland tourists from 3,000 to 7,200, to cope with the increasing number of travelers.     Tse Lap-kong, a Taiwanese official, said the temporary adjustment was meant to cope with the surge of tourist numbers in the coming two weeks, a travel peak season for mainlanders.     It is estimated that more than 30,000 mainland tourists could arrive in Taiwan in the coming week, with a daily average of 4,100.     Daily mainland tourist arrivals were less than 3,000 in the first few months since Taiwan was opened to them as a destination last July, and the temporary change would use the unfulfilled quota from that period, Tse said.     The daily quota would remain at 3,000 on a yearly average, he said.     Taiwan authorities might also extend the allowed period for visiting mainland businessmen and professionals, with a final decision in late April, local media reported.     Business trips would be extended from a maximum of two weeks to one month, and visiting businessmen and experts would be allowed an additional five days based on their travel schedule, according to the reports.     Industrial and commercial organizations with an annual turnover of more than 30 million New Taiwan dollars (883,260 U.S. dollars) would have the number of invited mainlanders increased from 50 to 200, while the number for those below 30 million New Taiwan dollars would rise to 45 from 15, said the reports.     Local authorities were also planning to shorten the approval time for applications of mainland businessmen from one month to two weeks.     More than 174,000 Chinese mainland tourists visited Taiwan from July last year till early April, according to mainland statistics.     The daily number of mainland visitors to the island on organized trips reached about 3,000 at the end of March, he said, adding that the number soared to more than 4,000 on April 7.     The Chinese mainland and Taiwan agreed to allow mainland touri

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BEIJING, March 26 (Xinhua) -- China's central bank governor has spoken highly of the government's rapid responses to the current global financial crisis, featuring decisively adopting a proactive fiscal policy and an adaptively easing monetary policy, and launching a bundle of timely, targeted and temporary policies and measures.     The prompt, decisive and effective policy measures adopted by the Chinese government demonstrates "its superior system advantage when it comes to making vital policy decisions," says Zhou Xiaochuan, president of the People's Bank of China (PBC), in an article entitled "Changing Pro-cyclicality for Financial and Economic Stability."     It is Zhou's third article published on the central bank's official website (WWW.PBC.GOV.CN) this week to discuss the issue of the current global financial crisis. His first and second articles, published on Monday and Tuesday, are entitled "Reform the International Monetary System" and "On Savings Ratio," respectively.     In the third article, the 61-year old central bank governor tries to find out the root causes for the current financial crisis, including but not limited to lessons on monetary policy, financial sector regulations, accounting rules.     The top Chinese banker says he wants to stimulate debate and discussions on some of the pro-cyclical features in the system, possible remedial measures, and how monetary and fiscal authorities can play their professional roles at times of severe market distress.     "Financial crises normally originate in the accumulation of bubbles and their subsequent bursts. Usually, economists pay a lot of attentions to pro-cyclicality on the macro level.     However, on the micro level, there are quite a number of notable pro-cyclical features embedded in the market structure today, which should be addressed as we deal with the current crisis and reform the financial system," he says.     Zhou suggests that in the current market structure, more counter-cyclical mechanisms or negative feedback loops on micro-level should be put in place to sustain a more stable financial system.     In the article, he notes that rating problems and herding phenomenon arise from outsourcing.     The global financial system relies heavily on the external credit ratings for investment decisions and risk management, giving rise to a prominent feature of pro-cyclicality, according to the central bank governor.     "Economic upswings produce euphoria and downturns generate pessimism," he says, "Many market players adopting ratings from the three agencies and using them as the yardstick for operations and internal performance assessments clearly result in a massive "herd behavior" at the institutional level."     Zhou points out that some market players seem to have forgotten that the ratings are no more than indicators of default probabilities based on past experiences but were never meant to be guarantees for the future, he says. "Once problems take place, as we have seen during the current crisis, fingers are pointed to the rating agencies," he says.     He suggests that financial institutions should try to rely more on internal rating in assessing risks.     He calls for giving full play to the professional role of authorities in maintaining overall financial stability and establishing a counter-cyclical mechanism for capital requirement     "To stabilize markets under severe stress, finance ministries and central banks need to act fast and apply extraordinary measures," he says, "Untimely or delayed response falls behind the curve and would make the outcome less than desired even if the response is correct and strong."     In modern Western societies, a prolonged political process for mandates to finance ministries or central banks often miss the best timing for action, Zhou says, adding, "We have observed such cases during the current crisis."     He suggests that governments and legislatures may consider giving pre-authorized mandates to ministries of finance and central banks to use extraordinary means to contain systemic risk under well-defined stress scenarios, in order to allow them to act boldly and expeditiously without having to go through a lengthy or even painful approval process.     "Such systematic pre-authorized mandates would put the specialized expertise of finance ministries and central banks to the best use when markets need it the most," he stresses.     The central bank governor attributes China's current success in easing the impacts of the crisis to the country's financial sector reform and ongoing macroeconomic stimulus measures     In 2003, fully aware of the systemic vulnerabilities of China's banking industry, the Chinese government made a courageous and strategic decision to restructure the four state-owned commercial banks, says Zhou, who took over as the PBC governor in late 2002.     In the article, Zhou gives a look back on the reforms of the country's major banks and security industry.     But he warns, "We should bear in mind that despite the notable achievements in banking reform, the major banks have not gone through a full business cycle and still have much to improve. An economic slowdown will be the ultimate stress test for the robustness of the banks' strengths."     According to the bank governor, irrespective of China's sound financial sector, the Chinese economy, especially the export sector, has felt the impact brought by the slowdown of the global economy.     He praises the Chinese government for its plans to stimulate domestic demand and promote stable and relatively rapid economic growth, including the extra investment of 4 trillion yuan (685 billion U.S. dollars) in over two years, the ten measures to revitalize the industrial sectors, and other bolster measures to increase money supply, promote employment, reform taxes and medical and healthcare system.     "Having taken the above-mentioned measures, China expect to maintain stable economic growth by boosting domestic demand and reducing dependence on external demand, thus serving as a stabilizing force in global economy," Zhou says.     In overall, the macroeconomic measures have produced preliminary result and some leading indicators are pointing to recovery of economic growth, indicating that rapid decline in growth has been curbed, he concludes.

BEIJING, April 7 (Xinhua) -- Chinese Vice Premier Li Keqiang told former French Prime Minister Jean-Pierre Raffarin Tuesday that efforts should be made to ensure the "healthy" and "stable" development of Sino-French relations.     Li recalled the experiences on the bilateral ties since China and French forged diplomatic relations 45 years ago, noting that sound political relations and trust served the fundamental interests of the two peoples and were vital to boost cooperation.     Li also briefed Raffarin on China's economic situation, adding the measures China adopted to curb the global financial crisis "have been taking some effect."     "We are confident of maintaining China's stable and rapid economic growth and highly value foreign trade cooperation with countries such as France," Li said.     Raffarin, who is in Beijing to attend a Sino-French economic seminar, said expressed his commitment to continuing to promote the bilateral strategic partnership. Chinese Vice Premier Li Keqiang (R) meets with Former French Prime Minister Jean-Pierre Raffarin in Beijing, capital of China, on April 7, 2009    China and France issued a press communiqué on Wednesday, just hours before the presidents Hu Jintao and Nicolas Sarkozy met in London ahead of a Group of 20 summit on the global financial crisis.     The communiqué said the two sides "attach great importance to China-France relations" and reiterated their adherence to the principle of non-interference in each other's internal affairs.     In the communiqué, France pledged not to support "Tibet independence" in any form.     Relations between China and France deteriorated in December when Sarkozy met with the ** Lama in Poland.