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Premier Wen Jiabao said Sunday that the nation will not bow to pressure from other countries to revalue the yuan because they are using the issue as a tool to curb China’s development.

He also cautioned against the possibility of rising inflation in the country next year and said that it’s too early to say that the national economy has fully recovered, although many economists have expressed optimism about the country’s GDP growth and inflation control next year.

“We will absolutely not agree to the various calls pressuring us to appreciate the yuan,” he said during an interview with Xinhua News Agency.

“They are, on the one hand, demanding the yuan’s appreciation and, on the other, imposing a variety of trade protectionist measures, which, in essence, is to retard China’s development.”

Despite widespread acknowledgement that free trade helps the global economy, some developed countries have taken measures to block Chinese exports. On Dec 22, for example, the European Union decided to extend dumping duties on leather footwear from China for another 15 months.

By the end of November, 19 countries and regions had launched 103 trade remedy investigations against Chinese products and both the number of the cases and the money involved hit a record, according to the Ministry of Commerce.

A higher yuan would make China’s exports more expensive and products from developed countries cheaper, but Wen said that maintaining the stability of the yuan’s exchange rate is an important contribution to global financial stability and economic development. He cited the 1997-98 Asian financial crisis, during which Beijing’s decision to keep the yuan’s value unchanged is believed to have anchored regional currencies and economies.

Wen said China will, together with other countries, make more efforts to promote global trade since “no one would develop without flow of trade”.

“We need action now,” he said.

China’s economy grew by 9.6 percent, 0.6 percentage points more than earlier estimates, in 2008, the National Bureau of Statistics (NBS) said on Friday after discovering that the service sector had played a greater role than thought earlier.
The NBS economic census results also show that the country achieved greater success in reducing its energy intensity, or the amount of energy used to generate each unit of GDP, last year. It used 5.2 percent less energy per unit of GDP, much less than the 4.6 percent as reported earlier.

The country set a goal to cut energy intensity by 20 percent during the 11th Five-Year Plan (2006-10).

“With the revision, the goal is more attainable,” said Yang Fuqiang, director of WWF’s global climate change solutions. Preliminary calculations show energy intensity could be 17 percent lower than the 2005 level by the end of this year, falling by another 4 percent next year, he said, and dismissed concerns over the country’s ability to achieve that goal.

Yang said the decline in energy intensity in 2008 and this year was largely because of the global financial crisis. The country used 3.35 percent less energy to generate each dollar worth of GDP in the first half of this year, the National Development and Reform Commission said in August. Yang said it might drop by another 3 percent in the second half.

With its growing power, China could allot more funds and achieve more technology breakthroughs to help achieve another 20 percent reduction in energy intensity during the 12th Five-Year Plan (2011-15), Yang said.

Despite some concerns over the credibility of the NBS figures, Yang said the revised data were more reliable than previous estimates.

Macro-economic data revisions are not unusual even in other countries. The US, for example, said recently that its third-quarter GDP rose 2.8 percent year-on-year compared with the previous estimate of 3.5 percent.

In the revised data for last year, the service sector accounted for 41.8 percent of China’s GDP, compared with the earlier estimate of 40.1 percent. It is still far less than the levels in Western countries, where it could be more than 70 percent.

“Even in Asia, the sector contributes an average of 45 percent to a country’s economy,” said Zhuang Jian, a senior economist with Asian Development Bank.

Second largest economy?

A likely impact of the revision is that it entered 2009 on a higher statistical base. As a result, a fast-growing China could possibly overtake Japan as the world’s second largest economy more quickly.

The revised GDP of 2008 for China is 31.405 trillion yuan, or $4.6 trillion, according to the market exchange rate, 1.34 trillion yuan more than the earlier estimate, the NBS said. And the World Bank estimates Japan’s economy to be worth $4.9 trillion in 2008, and it has contracted further this year.

If China’s GDP is calculated on the basis of “purchasing power parity”, which attempts to factor in price differences across countries while estimating the size of a foreign economy in US dollars, China may already have become the world’s second largest economy, Zhuang said.

The economic revision will mainly affect the value of this year’s GDP with “minimal” impact on the growth rate, said Peng Zhilong, head of the NBS’ department of national accounts.

China’s economy grew 7.7 percent year-on-year in the first three quarters of this year, which Peng said the government was likely to revise.

And Zhuang said he still had no doubt that this year’s economic growth would be more than 8 percent.

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COPENHAGEN: The political accord that the nations acknowledge at the United Nations Climate Change Conference, or COP15, “is impressive” with a number of “significant elements”, Yvo de Boer, executive secretary of UN’s agency in charge of coordinating global effort to tackle climate change, UN Framework on Climate Change, said at COP15’s last press conference held Saturday afternoon.

He explained that the discussion of the draft accord was led by Danish Prime Minister Lars Løkke Rasmussen, and joined by US President Barack Obama, French President Nicolas Sarkozy, with ministers from some 20 other countries, including China, Brazil and India.

It set the goal for limiting the temperature rise by 2 degrees Celsius, obtained commitment of greenhouse emission cuts by developed countries, engagement of developing countries to mitigate global warming and financial pledges from developed countries to help the most vulnerable countries, de Boer said.

He also admitted the shortfalls of the accord as it is not legally-binding.

It failed to pin down the emission cut targets by industrialized countries as well as developing countries, he said.

The financial pledge has not specified how the rich countries are going to divide the share and where actually the money will come from.

“What is put in place is a letter of intent, a willingness to move forward,” he said, adding that it has also left a lot of work for the nations to do next year in Mexico, where COP16 will be held.

He expressed his frustration that two years’ negotiations with nine meetings and several summits have resulted in a document that should make people all “conscious of huge challenges that lie ahead of us.”

While negotiations move forward, “the science does not move,” he said, meaning that the window of opportunity to be able to slow down the global

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COPENHAGEN: No matter what the outcome of the UN climate change conference is, China will remain committed to achieving and even exceeding the emission reduction targets it has said for itself, Premier Wen Jiabao said on Friday.

“We will honour our word with real action,” Wen told 119 heads of state and government attending the UN climate change conference, or COP15.

Before the conference began, China announced that it would reduce its carbon intensity emission per unit of GDP — by 40 and 45 percent by 2020, taking 2005 as the base year.

Speaking at an informal high-level meting, hosted by Danish Prime Minister Lars Lokke Rasmussen, on the last day of the conference, Wen elaborated China’s achievements in developing clean energy and cutting greenhouse gas (GHG) emissions.

Stressing that this is a voluntary move taken by China, Wen said: “We have not attached any condition to the target, nor have we linked it to the target of any other country.”

In responding to developed countries’insistance on transparency, Wen said: “We will further enhance the domestic statistical, monitoring and evaluation methods, improve the way for releasing emission reduction information, increase transparency and actively engage in international exchange, dialogue and cooperation.”

Wen then met US President Barack Obama for nearly an hour in what a White House official described as a “step forward”.

“They had a constructive discussion that touched upon … all the key issues,” the official said. “They’ve now directed their negotiators to work on a bilateral basis as well as with other countries to see if an agreement can be reached.”

But Obama refused to commit to new GHG emission cuts, a move that many said could have salvaged the floundering climate talks.

Since not much headway has been made toward a deal, negotiations could continue beyond Friday, the official last day of the conference.

Till late on Friday night (Beijing time), Rasmussen was locked in talks with some heads of state and government and ministers to see whether a political declaration could be made. He was also trying to strike a deal on “Long-term Cooperation Action” and possible amendments to Kyoto Protocol.

Before the two leaders’ meeting, leaders of major developed and developing economies such as US President Obama, Brazilian President Luiz Inácio Lula da Silva, and Indian Prime Minister Manmohan Singh, also addressed the informal high-level gathering.

Their speeches, though, showed their divergent views on how the world should work together to slow down global warming.

Singh, who supported China’s stance, said: “The vast majority of countries do not support any renegotiation or dilution of the principles and provisions of the UNFCCC (UN Framework Convention on Climate Change), especially the principle of equity and equitable burden sharing.”

Wen urged the international community to fight climate change on the basis of four principles. The international community should strengthen confidence, build consensus, make vigorous efforts and enhance cooperation, he said.

The countries should honor and follow the documents they are have agreed to since 1992, that is, the UNFCCC, the Kyoto Protocol (1997) and the Bali Roadmap (2007), he said. They “should lock up rather than deny the consensus and progress already made at the negotiations”.

Upholding the fairness of rules is the second principle that Wen proposed. The principle of “common but differentiated responsibilities represents the core … of international cooperation on climate change”.

“It must never be compromised,” he said.

Industrialization began in the developing countries only a few decades ago and many of their people still live in abject poverty, he said. China alone has 150 million people living in poverty by UN standards.

“It is unjustified to ask them to commit to binding emission cut targets beyond their due obligations and capabilities in disregard to historical responsibilities, per capita emissions and different levels of development,” he said.

Third, we should pay attention to the practicality of the targets, he said.

“The Kyoto Protocol has set out clear emission reduction targets for developed countries for the first commitment period, until 2012. But a review of implementation shows that the emissions from many developed countries have increased instead of decreasing,” Wen said.

Fourth, the international community has to ensure the effectiveness of institutions and mechanisms. “Concrete actions and institutional guarantee are essential to our efforts to tackle climate change,” Wen said.

“I think Wen spoke with passion to seek a constructive and meaningful climate deal,” said Wu Changhua, Greater China Director of the Climate Group.

He made it clear that China was committed to pursuing a low-carbon economy despite the tremendous difficulties that it would face, Wu said.

Though China has a clear vision, some funds and technologies and is committed to the cause, aligning the vision, policy, money, technologies is still an uphill task for it, she said.

That Wen reiterated China’s position at the conference shows that the principles of UNFCCC, Kyoto Protocol and Bali Action Plan should not be compromised, Wu said.

This position is shared by most developing countries and many NGOs in China and abroad, she said.

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Premier Wen Jiabao yesterday spoke of China’s desire to see progress and consensus reached up to now written into the outcome paper from the two-week UN climate change conference in Copenhagen, despite the gloomy expectations hanging over the Danish capital.

Wen said the paper can still provide momentum for future international cooperation and negotiation and he called on negotiators and global leaders to take swift action to lock in achievements made during two years of tough talks aimed at finding a successor to the Kyoto Protocol.

With snow melting in bright sunshine yesterday and with the UN conference entering its crucial final stage, Wen told Danish Prime Minister Lars Lokke Rasmussen and UN Secretary-General Ban Ki-moon that world leaders should make every effort to find common ground.

Wen will likely make his case during his five-minute speech at the UN climate change leaders plenary today. He is also scheduled to make a one-minute statement during the second phase of the plenary.

His stance was praised by Rasmussen, who said: “I hope all the countries will follow China’s example by showing active and responsible attitudes to achieve a positive outcome.”

Sources close to the Chinese delegation said China would like to see all the policy consensus reached so far included in an outcome document – such as carbon emissions reduction targets proposed by developed countries.

China offered to cut carbon intensity by 40-45 percent by 2020 from the 2005 levels.

US President Barack Obama has offered to cut greenhouse gases by 4 percent from 1990 levels by 2020 – or 17 percent against 2005 levels.

The European Union has said it will cut emissions by at least 20 percent against 1990 levels.

“All these targets should be written into the paper for further negotiations,” said the sources in Copenhagen.

During his flight to Copenhagen, Wen told China Daily that Beijing’s target was based on reality and he said China will not lessen its efforts, no matter what outcomes are reached today in Copenhagen.

While huge differences persist among parties at the climate talks, the Chinese government also suggested that disagreements should be included in the outcome document in an effort to push forward future negotiations and discussions, sources said.

The difficult two weeks of negotiations became deadlocked because “some parties intend to kill the Kyoto Protocol and endanger international cooperation”, said Chinese chief climate change negotiator Su Wei.

Wen has been working hard to find a way forward, including his meeting with his Danish counterpart and the UN secretary-general yesterday, but he admitted several focused problems – mainly between developed countries and developing nations – blocked progress.

“China will continue to support the efforts made by the host, and will work closely with all parties in pushing for a positive outcome from the summit,” Wen told Rasmussen.

He also said China will continuously support the efforts of the UN secretary-general in achieving a positive outcome.

Ban said Premier Wen arrived at a critical time, with the UN climate meeting at a final and crucial stage.

“During the past two years, worldwide negotiators have made efforts in forming a final document on dealing with climate change, a deal that is currently under busy preparation,” Ban said. “I hope you can make good use of your strong leadership in achieving that.”

Meetings between Wen and leaders from South Africa, the United Kingdom and Germany are also being arranged.

Wen has also been trying to build a consensus among other parties from small island countries, African nations and other developing countries.

“All these countries are most vulnerable to climate change and the international community should deliver a helping hand in the form of capital and technology transfer in an urgent manner,” Wen said during a group meeting with five such countries.

On a different occasion, Wen said China will help these countries in the framework of South-South cooperation.

“We used to focus on agricultural and medical areas and the next is tackling climate change.”

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China is seeking to enhance its fence against separatists both home and abroad as President Hu Jintao made a visit to Kazakhstan and Turkmenistan this weekend.
In his meeting with Turkmenistan President Gurbanguly Berdymukhamedov yesterday, Hu proposed to improve direct contact between each nation’s enforcement agencies to combat terrorism, separatism and religious extremism.

“The ‘three evil forces’ have been a hidden peril to the security and stability in the region,” Hu said.

The president has also proposed to set up a China-Turkmenistan Cooperation Commission to guide bilateral cooperative affairs.

Wu Hongbing, Chinese ambassador to Turkmenistan, told China Daily that a committee under the framework of the commission would take charge of efforts to combat separatists and transnational crime.

During his Saturday meeting with Hu, Kazakhstan President Nursultan Nazarbayev said that China’s proper handling of the Urumqi riots on July 5 and its joint efforts with Central Asian countries are conducive to the stability in the Xinjiang region and a boon to his country.

Uzbekistan President Islam Karimov, who is visiting Turkmenistan, said “every meeting with China has yielded efforts in line with maintaining Uzbekistan’s interests and is conducive to regional stability”.

The cooperation between China and Central Asian nations is important because it is difficult for a single nation to weed out terrorists and separatists, said Yang Shu, director of the Center of Central Asia Studies at Lanzhou University.

Zan Tao, an expert of Central Asian studies at Peking University, said “the so-called ‘Eastern Turkestan’ forces pose a threat to not only China but also Central Asia.”

The deadliest riot in Urumqi in decades sheds light on the need for the countries to fight terrorists together, Zan said.

China has said separatists, who had connection with the East Turkestan Islamic Movement, a terrorist group listed by the United Nations, plotted the riot.

Hu arrived in Kazakhstan on Saturday to attend the inauguration ceremony of the China-Kazakhstan natural gas pipeline, part of the China-Central Asia natural gas line. He left for Turkmenistan yesterday, where Hu and leaders of Turkmenistan, Uzbekistan and Kazakhstan will attend a ceremony marking the completion of one of two pipelines today.