Beijing: Chinese President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalise the economy, sources close to the government said, shunning policy stimulus for fear it could worsen local government debt and inflate property prices.
A consensus had been reached among top leaders that reforms would be the only way to put the world's second-largest economy on a more sustainable footing, said the sources, who are familiar with the plans and Xi's involvement.
China's economic growth is at its weakest in 13 years, although still the envy of any major economy.
Xi will present the reforms at a key meeting of the ruling Communist Party later this year that will set the agenda for the next decade, signalling his seriousness to see breakthroughs, the sources told Reuters....
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06:30 AM, May 17, 2013
Beijing: At least 161 people were killed and more than 5,700 injured when a devastating 7.0-magnitude earthquake rocked southwest China's Sichuan province on Saturday, flattening more than 10,000 homes in a seismic mountainous region that suffered a catastrophic quake in 2008. The quake struck the province on the edge of the Tibetan Plateau at 8.02 am, prompting a major relief and rescue operation in the same area where 90,000 people...
08:21 PM, Apr 20, 2013
Beijing: Over 110 people were killed and more than 3,000 injured on Saturday when a powerful 7.0-magnitude earthquake rocked southwest China's Sichuan province, causing massive destruction in a region that suffered a catastrophic quake in 2008. The quake hit Lushan county of Ya'an city in southwest China's Sichuan province at 8:02 am local time, according to the China Earthquake Networks Center (CENC). The epicentre of the earthquake was reported to...
04:20 PM, Apr 20, 2013
Beijing: A strong 6.6 magnitude earthquake hit southwestern China's Sichuan province on Saturday, killing at least 56 people and injuring about 600 close to where a big quake killed almost 70,000 people in 2008. The earthquake occurred at 8.02 am in Lushan county near Ya'an city and the epicentre had a depth of 12 km, the US Geological Survey said. The quake was felt by residents in neighbouring provinces and...
12:03 PM, Apr 20, 2013
New Delhi: Days after Prime Minister Manmohan Singh voiced India's concerns over dam construction on the Brahmaputra river by China and proposed a joint mechanism during talks with Chinese President Xi Jinping, Beijing is believed to have not shown willingness to move on the issue. During his meeting with President Xi in Durban, Manmohan Singh had sought a joint mechanism to assess the construction work on dams on the Brahmaputra...
04:36 AM, Apr 18, 2013
Beijing: The United States has reached out to China to increase pressure on North Korea to tone down its threats of a nuclear attack on the US and South Korea. US Secretary of State John Kerry met Chinese President Xi Jinping on Saturday, where both the countries made a joint pledge to escalate the denuclearisation process on the Korean peninsula. Kerry said that the US has cancelled certain military exercises,...
06:55 PM, Apr 14, 2013
The North Korean missile test threat has brought two unlikely allies - US Secretary of State John Kerry and Chinese President Xi Jinping - together. Kerry has reached out to China to help defuse the growing tension in the Korean Peninsula. CNN's Cristina Mutchler reports that both US and China will work together to uphold peace and advancing de-nuclearization of the Korean peninsula. China is considered North Korea's biggest benefactor ...
10:04 AM, Apr 14, 2013
Beijing: An online fan club devoted to Peng Liyuan, the glamorous wife of new Chinese President Xi Jinping, was suddenly shut down by authorities, media reports said. The fan club for 50-year-old Peng on the microblog platform Weibo, China's equivalent of Twitter had attracted more than 5,600 followers before it was suspended on Tuesday, up from fewer than 1,000 last week. "Sorry, the account you are visiting is abnormal and...
04:23 PM, Mar 29, 2013
On Board PM's Aircraft: Notwithstanding pledges to take the bilateral relationship to a new level, Prime Minister Manmohan Singh in his first meeting with new Chinese President Xi Jinping has sought a joint mechanism to assess the construction work on dams on Brahmaputra river in Tibet. "I took the opportunity to raise the issue of trans-border river systems. I requested the Chinese government to provide a joint mechanism to enable...
01:26 AM, Mar 29, 2013
Durban: Prime Minister Manmohan Singh on Wednesday met Chinese President Xi Jinping on the sidelines of the BRICS Summit in Durban. This was the first structured high-level meeting between the two countries since the change of leadership in China. Speaking after the meeting, Singh said he was happy to meet the Chinese President and has extended an invitation to him to visit India. "I look forward to your Excellency's personal...
07:57 AM, Mar 28, 2013
Durban: Prime Minister Manmohan Singh is set to meet Chinese Premier Xi Jinping on Wednesday in Durban on the sidelines of the ongoing 5th BRICS Summit. This will be the first bilateral meeting between the two leaders after the recent change of leadership in China. The Prime Minister who is in South Africa for the two day conference is set to discuss macro economic stability. On Tuesday, BRICS countries reached...
08:00 AM, Mar 27, 2013
New Delhi: Prime Minister Manmohan Singh leaves for Durban on Monday for the 5th BRICS Summit over the next two days with the leaders of Brazil, Russia, China and South Africa. Besides the BRICs leaders, notably China's newly-elected President Xi Jinping and Russian President Vladimir Putin, Manmohan Singh is also expected to hold bilateral meetings with some African leaders on the margins of the summit. The Prime Minister will be...
05:52 PM, Mar 24, 2013
With a smile on her face, dressed in a simple black peacoat and carrying an elegant unbranded bag, China's new first lady, Peng Liyuan, stepped into the international limelight on Friday and became an instant internet sensation back home. ...
10:27 AM, Mar 23, 2013
President Hu Jintao, who took a number of initiatives to put Sino-India ties on a fast track during his decade-long stint, retired on Thursday handing over the power to Xi Jinping, who is set to begin his engagement with Prime Minister Manmohan Singh by meeting him later in February. ...
03:07 AM, Mar 15, 2013
China's parliament formally elected heir-in-waiting Xi Jinping as the country's new president on Thursday, completing the country's second orderly political succession since the Communist Party took power in 1949. ...
10:20 AM, Mar 14, 2013
China on Tuesday hiked its defence budget by a whopping 10.7 per cent to $ 115.7 billion, well above India's current defence spending of $ 37.4 billion, underlining Beijing's military ambitions amid territorial disputes with neighbours. The double-digit rise in defence budget for 2013-14 was announced by Premier Wen Jiabao at the Chinese Parliament, the National People's Congress (NPC), which opened its annual session on Tuesday morning which will also...
12:37 PM, Mar 05, 2013
China's new leadership headed by Xi Jinping is all set to take over power to succeed outgoing President Hu Jintao and his team during the two-week annual session of the National People's Congress (NPC) which began here on Tuesday. ...
11:00 AM, Mar 05, 2013
China's new advisory legislative body began its annual session on Sunday commencing the once-in-a-decade power transfer to a new leadership headed by Xi Jinping from the outgoing government led by Hu Jintao. ...
10:10 AM, Mar 04, 2013
China has shot down speculations that country's new leadership may ease up on the controversial one-child policy, asserting that it would continue adhering to the coercive family planning measure. China's family planning policy should be unswervingly adhered to, Wang Xia, director of the National Population and Family Planning Committee, told a conference, state-run Xinhua news agency reported. ...
01:15 PM, Jan 15, 2013
When Xi Jinping became the new leader of China's Communist Party two months ago, hopes were high for reform in the giant nation. But despite what appears to be sensitive handling of a strike by journalists and a challenge to Beijing's tight control of the press, signs of change seem tentative. Xi's commitment to reform, or lack of it, will come into sharper focus over the next few months, in...
10:46 AM, Jan 11, 2013
