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SINGAPORE, Feb. 16 (Xinhua) -- Singapore's Senior Minister Goh Chok Tong said on Tuesday that China will become even more important globally and Singapore must find opportunities to ride on China's growth.Speaking at the Business China spring reception on Tuesday night, Goh said that China has over the past year weathered the global economic downturn with exceptional resilience.Despite shrinking external demand and rising unemployment, China's timely and bold policy responses have enabled its economy to grow at a sizzling 8.7 percent last year, he said, adding that China is now reinforcing its role as the engine for growth in Asia, if not the world.Goh said that the city state recognized China's potential early, soon after China began to open up its economy in 1978.Because of the early efforts made by the Singapore government and Singaporeans, China is today the city state's third largest trading partner and top investment destination, Goh said.As for riding on China's growth, Goh said that the Singapore government will help its companies gain an even stronger foothold in China, and continue to catalyze business opportunities in China.The seven provincial-level business councils, as well as other high-level dialogues and platforms, help open opportunities for companies, reinforce the Singapore brand name and increase its mindshare in China, Goh said.

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URUMQI, March 2 (Xinhua) -- Senior Chinese leader Zhou Yongkang has revealed that the government is preparing measures to boost the economic and social development of the northwestern Xinjiang Uygur Autonomous Region.Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks during a four-day inspection to the region that ended on Sunday.Zhou mingled with local cadres, teachers and residents when visiting Kashi Prefecture, Urumqi, the regional capital, and Shihezi City. He stressed the issues of housing, education and employment should be appropriately resolved to ensure social harmony. Zhou Yongkang (R Front), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, chats with residents in Kashi, northwest China's Xinjiang Uygur Autonomous Region, Feb. 25, 2010. Zhou made an inspection tour in Xinjiang on Feb. 25-28.He told two separate symposiums in Kashi and Urumqi that the CPC Central Committee would hold a meeting in the first half of this year, at which major decisions would be made to boost Xinjiang's development and enhance its stability.Zhou said development should benefit people of all ethnic groups in the region.

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BEIJING, Feb. 9 (Xinhua) -- Senior Chinese leader He Guoqiang has stressed the country's determination and efforts in fighting corruption in a lengthy report published Tuesday, saying current anti-graft situation was still "grave.""While fully acknowledging the achievements, we should see clearly that many problems still exist in our fight against corruption... the situation is still grave and the task is arduous," He said.He, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, noted that the main missions for the new year included intensified crackdown on cases concerning officials' power abuse, embezzlement, bribery and dereliction of duty.He said the country would also step up campaigns against officials' extravagant behaviors in the new year.Figures from the report show that local party and government departments saved a total of 15.8 billion yuan (2.31 billion U.S. dollars) by reducing expenses in travels, vehicles purchase and food and accommodation.Party and government officials' spending on overseas business trips dropped 37.6 percent compared with the average figure of the past three years.Also, as of November, a total of 22,884 "small coffers" illegally held by Party and government officials worth 10.16 billion yuan (1.49 billion U.S. dollars), had been uncovered since a campaign was launched in last June.He also urged improving the regulations on party members and officials' declaring personal information for the country's upcoming anti-graft moves, saying that housing, investment, employment of their spouses and children should also be included in the information list.He said that officials who refuse to declare their properties should be severely dealt with.The report was first delivered on Jan. 11 at a plenary session held by the Communist Party of China (CPC) Central Commission for Discipline Inspection (CCDI), the party's internal anti-graft body.He, head of commission, urged officials to carefully study and implement President Hu Jintao's speech on anti-corruption at the meeting.Hu said at the session that efforts should be made to investigate cases of power abuse, corruption and embezzlement as well as dereliction of duty.Hu pledged to push forward the construction of anti-corruption procedures, with confidence, determination, forceful measures and a solid working style.

XIAMEN, Fujian, Feb. 15 (Xinhua) -- Chinese President Hu Jintao has called for efforts to accelerate the construction of the economic zone on the western side of the Taiwan Strait during his four-day inspection tour to Fujian Province that ended Monday.Hu urged Fujian officials and people to seize the favorable opportunities offered by the central government on the construction of the economic zone and accelerate the transformation of the economic growth mode.Hu, also general secretary of the Communist Party of China (CPC) Central Committee, visited Zhangzhou, Longyan and Xiamen in Fujian during the inspection tour and celebrated the Spring Festival, or Lunar New Year, with local residents and Taiwan compatriots living in Fujian.Chinese President Hu Jintao (R Front) meets with model workers in Xiamen, southeast China's Fujian Province, Feb. 14, 2010. President Hu made an inspection tour in Fujian from Feb. 12 to 15.Hu stressed the role of tourism in the transformation of the economic growth mode, urging local authorities to make Fujian a tourist resort with international fame.During his visit to a tourist information center in Xiamen, Hu urged the city to strengthen its tourism management and provide better services to solicit more visitors.Chinese President Hu Jintao (R Front) meets with workers and tourists at a tourism consultation center in Xiamen, southeast China's Fujian Province, Feb. 14, 2010. President Hu made an inspection tour in Fujian from Feb. 12 to 15Hu also visited some tourist attractions including the Gulangyu Islet and extended his greetings to travellers.When inspecting the Haitian Wharf, the largest container terminal in the province, he urged the operator to boost the cross-Strait cooperation in economy and trade with better services.During his visit to the Xiamen Strait Cruise Center, Hu talked with a Taiwan passenger awaiting the ship, who said the travels across the Strait are much more convenient than before. Hu said that compatriots across the Strait are like family members and should keep in close contact.Hu extended Spring Festival greetings to migrant workers at the construction site of Xiang'an Tunnel in Xiamen. Speaking highly of the migrant workers as a labor force growing in China's reform and opening up, Hu urged all government departments to be more concerned about these workers.During his tour in Zhangzhou and Longyan, Hu visited some Taiwan businesses. He also promised favorable polices to support and accelerate the development of old revolutionary bases. Chinese President Hu Jintao (R Front) meets with Haitian dock workers in Xiamen, southeast China's Fujian Province, Feb. 14, 2010. President Hu made an inspection tour in Fujian from Feb. 12 to 15

BEIJING, Feb. 23 (Xinhua) -- Access to finance for China's small enterprises generally improved in 2009, but still was not good enough, said the country's top banking regulator on Tuesday.Outstanding loans to small Chinese enterprises added to 5.8 trillion yuan (849 billion U.S. dollars) as of the end of 2009, China Banking Regulatory Commission (CBRC) said in a statement posted on its website.The figure accounted for 22 percent of total corporate loans by the end of last year, 1 percentage point higher than a year ago, said the CBRC.The CBRC data showed that the growth rate of new loans to small enterprises in 2009 was 5.5 percentage points higher than that of the total corporate lendings and 0.61 percentage higher than all lendings.China has set a target of keeping the growth rate of new small business loans higher than that of all loans in 2010, and the amount of new loans should be bigger than the previous year, said the CBRC."Small enterprises" in China refers to those with assets worth less than 10 million yuan or annual sales less than 30 million yuan, according to a CBRC document.Last December, China promised to help improve the financing mechanisms to help small and medium enterprises (SMEs), as they were worst hit by the financial crisis and have had difficulty securing loans as commercial lenders preferred state-owned enterprises and large key projects, as the risk was not as great.SMEs refers to enterprises whose annual business revenue is below 300 million yuan. But in retail and accommodation industry, the maximum annual business revenue is 150 million yuan for an SME.

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BEIJING, Feb. 6 -- The Chinese government is looking at ways to protect consumer rights and develop common standards in the burgeoning pre-paid card industry.The popularity of the cards has flourished in recent years in major cities such as Shanghai and Beijing. In 2007, just four companies in Beijing issued them. Now more than 300 have been registered in the city with the People's Bank of China (PBOC).Complaints have also risen. In Shanghai, where the cards are used most, 4,800 people complained between January and November last year compared with 4,049 during the whole of 2008.Most complaints were about the cards' expiry, as money left on them is kept by some companies."I feel my money on the pre-paid card is very risky since I have to pay close attention to when it expires and try to spend all of it before that date or I will lose it. It's unfair to limit the time available to spend my own money," said Liu Xiaodan, a 26-year-old salesman.It's estimated that the total volume of money left on pre-paid cards after they expire is more than 100 million yuan in Shanghai. The figure for Beijing is not available.The PBOC will launch a series of supervisory regulations this year to oversee the operation of pre-paid card companies, said Zhang Wei, a financial industry analyst. "One of the most important aspects is the management of any money left on the card after it expires. Any investment of money on the cards either before or after they expire must be at zero risk."Fang Xinghai, the head of Shanghai Finance Office, said his organization worked closely with the PBOC to keep an eye on pre-paid card companies."We suggest that special accounts should be opened with the bank where the money on the cards is held to ensure it is safe," he said."If that happens, even if the company goes bust, the money will still be fixed in the account and the cardholders' rights will be protected."Warnings about the risks involved in using pre-paid cards are displayed on the Beijing Administration for Industry and Commerce's website. Complaints about the cards tend to reach their peak during the Spring Festival, when many people buy them as gifts for friends and relatives.The first pre-paid card arrived in Beijing in 2002. Customers can deposit between 100 and 200,000 yuan on them for use at participating shops, restaurants and gyms.Some companies issue them to their employees as an extra benefit.Their popularity took off because they save the inconvenience of carrying money around and enable people to control spending, especially useful if they are given to children or housekeepers.However, the companies behind them are currently regarded as unspecified financial institutions by the PBOC and, as such, are not strictly regulated. That means people have few rights if the company goes bankrupt. They will no longer be able to use the cards, no matter how much money is on them, and will have difficulty reclaiming their cash.Cheng Xi, a 28-year-old engineer, said: "I received the pre-paid card as a gift but I would not buy one myself because I'm not familiar with the pre-paid card company and, if it goes bankrupt, my money would disappear."No matter how distinguished and reputable the company behind a card is, its most important challenge is to win clients' trust."Having a standard trademark like China UnionPay, which has a good reputation for reliability, is necessary for a company to distinguish it from those with a bad reputation. The company that wins the trust of most clients will be the biggest winner," said Clark Lin, a financial analyst at Thomson Reuters.Fu Dingsheng, a civil and business law expert at East China University of Political Science and Law, said: "Part of the pre-paid card company's capital should be classified as a guarantee deposit when the issuers register their companies. In that way consumers' rights can be met to some extent when a dispute occurs."Even though the prepaid card sector is an emerging industry with little or no supervision, the government is speeding up its oversight of the sector."PBOC is playing a leading role in the supervision of the industry. We regard this as an important task to complete in order to protect consumers' rights to the greatest extent," said Fang from Shanghai Finance Office.

BEIJING, Feb. 22 -- The Chinese central government plans to implement a new policy in the first half of this year to encourage auto industry consolidation and further the development of Chinese-brand passenger vehicles, an official from the Ministry of Industry and Information Technology said at a recent news conference.According to sources with knowledge of the new policy, it intends that Chinese-brand passenger vehicles will comprise at least half of vehicle sales by 2015 and sedans made by entirely domestic automakers will have about 40 percent of the nation's car market.Statistics from the China Association of Automobile Manufacturers (CAAM) show that 4.58 million Chinese-brand passenger vehicles were sold last year, some 44.3 percent of the total. Through an acquisition deal with Aviation Industry Corp last year, Chang'an Auto closed the biggest asset deal between State-owned auto enterprisesSales of domestic sedans hit 2.22 million units, almost 30 percent of the segment.The new policy will also focus on accelerating consolidation between automakers and could lead to a new round of reshuffling, industry insiders said.China became the world's largest auto producer and market last year with both production and sales surpassing 13.5 million vehicles due in part to government incentives.There are now more than 130 carmakers across the country, but most of them are small enterprises with annual production and sales of fewer than 10,000 units.Only five had sales of more than 1 million units last year as the country's top 10 carmakers moved a total of 11.89 million vehicles to account for 87 percent of overall sales, according to market data.Consolidation movesLast year, Chang'an Motor Corp acquired two minivan makers - Hafei and Changhe - as well as engine producer Dong'an Auto from the Aviation Industry Corp of China (AVIC), marking the biggest asset deal ever between State-owned auto companies.Chang'an is the fourth-largest motor group in China and the local partner of US carmaker Ford Motor and Japan's Mazda and Suzuki. After the acquisition, Chang'an's 2009 sales were only 30,000 units behind Dongfeng, the country's third-largest motor group.Guangzhou Automobile Group Corp, the country's sixth-biggest automaker, bought a 29 percent stake of Shanghai-listed SUV maker Changfeng Motor Co Ltd for 1 billion yuan in May last year.Beijing Automobile Industry Holding Corp, China's fifth-largest carmaker, reportedly finalized a deal last month to buy a 40 percent stake in Daimler AG's van joint venture with Fujian Motor Industry Corp.By 2012 policymakers hope consolidation will result in two to three large-scale auto groups, each with annual production capacity surpassing 2 million units, and four to five companies with annual output of more than 1 million vehicles, according to the national auto industry revitalization plan released in March last year.The current top-four Chinese motor groups are SAIC Motor Corp, FAW Group, Dongfeng Motor and Chang'an Motor. Carmakers including Beijing Automobile, Guangzhou Automobile, Chery, Geely and Sinotruk form the second tier in the country's auto industry.Going globalLi Yizhong, minister of Industry and Information Technology, said recently that in addition to fueling industry consolidation, the government will also implement measures to encourage domestic automakers in reaching overseas this year through investment, acquisition of foreign brands, building research and development facilities and developing sales networks.Industry sources said that the new policy calls for 20 percent of overall sales by major auto groups to be generated overseas in the next few years.In the wake of the financial crisis, China's vehicle exports fell sharply by 45.7 percent to 369,600 units last year, according to statistics from the General Administration of Customs. Industry analysts generally expect a rebound in car shipments this year as the foreign markets begin to recover.Despite the poor export performance, Chinese companies were aggressive in acquiring overseas assets in 2009.Homegrown carmaker Geely's bid for Swedish luxury brand Volvo received a lot of media exposure in 2009. The Zhejiang-based company will reportedly close the deal soon.Beijing Automotive bought some of Swedish carmaker Saab's core assets and technologies for 0 million last year.Li noted that along with encouraging acquisitions and consolidation, the government will restrain overcapacity in the auto industry.Li also said that the ministry will accelerate the development of new energy vehicles, including hybrid, pure electric and fuel battery models.The new policy will reportedly stipulate that Chinese partners hold at least a 50 percent share in newly built Sino-foreign joint ventures that produce core parts for alternative-energy vehicles.

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BEIJING, March 8 (Xinhua) -- China's Minister of Science and Technology Wan Gang said here on Monday a lot of new and high technologies will be applied to the Shanghai World Expo, which is designed to highlight the theme of "Better City, Better Life" with the latest technologies.Clean energy will be used to supply electricity for the six-month exposition beginning May 1, said the minister at a press conference on the sidelines of the annual session of the country's top advisory body, the National Committee of the Chinese People's Political Consultative Conference (CPPCC).The 5.8-square kilometer exposition site will become the venue for the largest-scale solar energy application project as 4.6-megawatt solar power generators will be put into operation, said Wan, who is also vice chairman of the CPPCC National Committee. Wan Gang, vice-chairperson of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), speaks during a news conference held by the Third Session of the 11th National Committee of the CPPCC on the 2010 Shanghai World Expo in Beijing, capital of China, March 8, 2010. A group of 34 3-megawatt wind power generating units are under construction and will supply clean energy for the event."After the Beijing 2008 Olympic Games, the Shanghai Expo will continue to have a zero-emission of vehicles in the expo site with the use of various kinds of electricity-driven cars," said Wan.In the landmark four pavilions along the Central Axis of the expo site, LED lamps account for more than 80 percent of the lighting system, the minister said, adding that devices have been installed in the four permanent buildings to recover all rainwater.The minister, who was born in Shanghai in 1952, said he hoped the high technologies to be showed and applied during the exposition could be applied to the daily life of every one and help Shanghai boost industrial development and restructuring."As science workers, we will take the exposition as a good opportunity to learn the R&D ideas of other countries and the latest technologies from them," he said.

HANOI, Feb. 4 (Xinhua) -- Vietnamese National Assembly Chairman Nguyen Phu Trong said here on Thursday that Vietnam vows to advance friendly ties with China.Trong made the remarks when meeting with Han Qide, vice chairman of China's National People's Congress Standing Committee, and president of the Chinese People's Association for Peace and Disarmament.Trong said Vietnamese and Chinese high-level officials have been committed to developing bilateral comprehensive strategic cooperative partnership.Bilateral relations are developing in a fine manner, with expanding economic and trade relations and active people-to-people exchanges, said Trong.Trong said Vietnam would spare no effort to advance bilateral friendly relations.Han said in the meeting that China and Vietnam have been expanding cooperation in economic and trade, culture, science, education and other fields in recent years.The two countries have seen strengthened cooperation and coordination in international and regional issues, said Han.Han said China and Vietnam have decided to develop comprehensive strategic cooperative partnership, which injected new impetus to bilateral relations.Han said this year marks the 60th anniversary of the establishment of diplomatic ties between the two countries and the Year of Friendship. China would like to take this opportunity to enrich bilateral relations and push forward the bilateral ties to a new level.

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