China’s Premier Wen Jiabao held an in-depth phone conversation with Russia’s Prime Minister Vladimir Putin on bilateral trade and other issues of common concern. They both emphasized each other’s significance as strategic partner and the importance of continuing cooperation. The phone conversation was held on the same day that a Russian and a Chinese satellite collided 500 miles over Siberia.
Thursday turned out to be a rare rainy day in the Chinese provinces Shaanxi, Shanxi, Hebei, Henan, Shandong, Anhui, Jiangsu and Hubei. The region, which is also China’s major wheat-growing area, has seen a severe drought over the last weeks that that spurred worries about this year’s harvest. The Chinese authorities however emphasized that the country’s grain reserves are large enough to guarantee China’s grain security.
China saw a significant rise in bank lending to corporate and household sectors in January this year. The People’s Bank of China announcement is all the more impressive as most other economies are struggling to revive their bank lending and push their stimulus packages through legislation.
China’s President Hu Jintao arrived in Mali today as the first leg of his Africa tour. The four-country tour is planned to deepen China’s trade and investment links in the region. The other destinations include Senegal, Tanzania and Mauritius, all countries that are not yet among China’s main African suppliers of oil or minerals.