News Dec 3

News Bulletin

China hopes for successful economic dialogue with US

China`s Foreign Ministry spokesman Liu Jianchao says the success of the 5th China-US Strategic Economic Dialogue, or SED, slated for Thursday and Friday, hinges on concerted efforts by both sides. Liu Jianchao made the remark at a regular press conference, adding that the SED is an important mechanism for the healthy development of Sino-U.S. economic relations. Earlier in the day, Chinese Vice Premier Wang Qishan and U.S. Treasury Secretary Henry Paulson agreed to put into action the consensus to be reached at the SED.

China economy to grow over 9 pct in 2009

An annual blue paper released by the Chinese Academy of Social Science forecasts China`s economy is to grow by more than 9 percent next year. The paper states that despite the huge uncertainty in 2009, timely and suitable macro-economic control measures to boost domestic demand will enable China to achieve the 9-percent growth. Amid increasing concerns over an economic slump, China unveiled a 4 trillion yuan stimulus package on Nov. 9 to boost domestic demand.

Tap consumption potential to sustain China growth

Chinese Vice Premier Wang Qishan has called for more concrete measures to tap China's domestic consumption potential to sustain economic growth. Wang Qishan says that as external demand for Chinese goods has fallen markedly amid the global financial crisis, the economic power of domestic consumption also fell. However, Wang Qishan says the country's continued industrialization and urbanization create huge demand, which helps to shield the economy from a slowdown and should be exploited.

China hopes to make anti-terror efforts with int'l community

Chinese Foreign Ministry spokesman Liu Jianchao says the Chinese government is firmly against all forms of terrorism, and ready to cooperate with the international community including India in the fight against terrorism. Calling the Mumbai attacks "astonishing", Liu says the Chinese government had expressed sympathy and condolence to the Indian government and the victims of the attacks. Liu Jianchao says China hopes relevant sides will find out truth of the Mumbai terrorist attacks through investigation as soon as possible.

Yuan weakens against dollar for 4th straight trading day

China's currency, the yuan, fell by the daily 0.5 percent limit against the U.S. dollar on Tuesday, its fourth straight day of decline. The yuan finished at 6.887 per U.S. dollar on the over-the-counter market, having declined 0.5 percent against its central parity rate. On Monday, the yuan also fell by the daily limit, its biggest weakening since its peg to the U.S. dollar ended in 2005.

Thai Anti-government group announces to end rallies from Wednesday

Leaders of Thailand's anti-government group, The People's Alliance for Democracy, have ended mass rallies after a collapse of the government. Calling its movement a victory, Core leader of the PAD, Sondhi Limthongkul announced at a press conference that the rallies at the Government House and Bangkok's two airports will cease on Wednesday morning. However he added the PAD would resume its fight if the new government is still under the influence of ousted prime minister Thaksin Shinawatra. Earlier, the Constitution Court ruled to disband the ruling coalition and banned Prime Minister Somchai Wongsawat from politics for five years.

India not considering military action against Pakistan: FM

Although India`s External Affairs Minister Pranab Mukherjee confirms that India is waiting for Islamabad's response over the extradition of 20 most wanted criminals who are closely related to the Mumbai Attacks, the Ministry denies that India is considering military action against Pakistan. India's foreign ministry said earlier investigations showed that all the militants involved in the Mumbai attacks were Pakistani nationals. Pakistan has proposed to India that a Pakistan-India joint commission be set up to investigate the Mumbai incident.

Bomb attacks kill 11 people in northern Iraq

Provincial police source say up to 11 people were killed and 45 wounded in two separate bomb attacks in the Iraqi province of Nineveh on Tuesday. It’s reported that a suicide car bomb killed 5 including a policeman and wounded 30 at a checkpoint manned by policemen and Iraqi army soldiers in the town of Tal Afer, 70 km west of the city of Mosul. In the second attack, the source said a pushcart packed with explosives detonated in the afternoon near a school and marketplace in the northern Mosul, killing 6 shop owners and stall vendors and wounding 15 others including school children.