Beijing - Several sponsors have withdrawn from next year's Asian Games in the southern Chinese city of Guangzhou, raising fears that the global financial crisis could leave organizers short of funding, state media said on Friday.

"No one can avoid the impact of the financial crisis, which has had an affect on the preparations for the upcoming games," Zhang Guangning, the Guangzhou city mayor, told the official China Daily.

Beijing - Chinese officials on Friday said they saw some signs of economic recovery after the impact of the global financial crisis but had prepared contingency plans amid "great uncertainty."

"There are already signs of recovery, including a rebound of consumption, investment and some product prices," Zhang Ping, China's chief economic planner, told reporters.

Beijing  - Human rights activist and self-taught lawyer Yuan Xianchen was sentenced to four years in prison for "inciting subversion of state power" after criticizing socialism and advocating democracy in articles and interviews with foreign media, a human rights group said Friday.

Beijing  - Chinese officials on Friday said they saw some signs of economic recovery after the impact of the global financial crisis but had prepared contingency plans amid "great uncertainty."

"There are already signs of recovery, including a rebound of consumption, investment and some product prices," Zhang Ping, China's chief economic planner, told reporters.

Beijing  - China announced a record annual budget deficit of 950 billion yuan (140 billion dollars) on Thursday, as it seeks to increase spending to bolster the economy against the effects of a global slowdown.

Prime Minister Wen Jiabao said the deficit would be offset by the issue of government bonds and remained at a "safe" level below 3 per cent of China's gross domestic product (GDP).

The deficit is about three times the previous record deficit in 2003.

Beijing  - China on Thursday opened the annual National People's Congress (NPC), the nominal parliament of the ruling Communist Party, with a focus on measures to bolster the economy against the impact of the global financial crisis.

President Hu Jintao, Prime Minister Wen Jiabao and other party leaders were among some 3,000 NPC delegates who heard the opening speeches of the nine-day event.

Wen delivered a government work report on 2008 and outlined key economic policies for this year.