BEIJING, March 19 (Xinhua) -- Chinese Vice Minister of Commerce Zhong Shan will pay a three-day visit to the United States from March 24 to strengthen economic and trade cooperation, said a statement posted on the official website of the Ministry of Commerce (MOC) Friday.The visit was aimed at expanding bilateral trade and promoting the healthy and stable development of the Sino-U.S. economic and trade relations, the statement said.Zhong would also negotiate with the U.S. administration over Sino-U.S. trade issues in an effort to increase mutual understanding, and defuse trade frictions, the statement said."Sino-U.S. economic and trade relations are mutually beneficial," said He Ning, director general of the Department of American and Oceanian Affairs of the MOC."China believes any economic and trade issues, including the RMB (Chinese currency) exchange rate, can be resolved through dialogue."But we should avoid politicizing economic and trade issues," He told journalists Friday in Beijing.He said commodities trade figures only mirrored flows of the products, but it could not truly reveal the beneficiaries.Chinese Premier Wen Jiabao said earlier this month that half of China's exports came from the processing trade, in which imported components were assembled at factories in China and 60 percent were made by foreign-funded companies or joint ventures with foreign partners.MOC spokesman Yao Jian said Tuesday China welcomed more U.S. high-tech exports, and was willing to promote more balanced Sino-U.S. trade. En
BEIJING, Jan. 25 (Xinhua) -- China restated on Sunday its resolute opposition to claims that the government was involved in cyber attack and vowed to enhance cooperation with international community to fight against Internet crimes."Accusation that the Chinese government participated in cyber attack, either in an explicit or inexplicit way, is groundless and aims to denigrate China. We firmly opposed to that," spokesman of the Ministry of Industry and Information Technology told Xinhua in an exclusive interview on Sunday."China's policy on Internet safety is transparent and consistent," he said.Internet security was a global concern which required international coordinated efforts. China was willing to deepen cooperation with other countries and learn from their experiences to make Internet a better place, he said.The spokesman's remarks came nearly two weeks after search engine giant Google said it might quit China citing disagreements with government policies and unidentified attacks targeting Google's services in China."China is the biggest victim country of hacking as its Internet has long been facing severe threats of hacker and online virus attacks," the spokesman said.Official data showed more than one million IP addresses were under control by overseas sources and the number of Web sites tampered by hackers exceeded 42,000 last year.The widespread Conficker worm virus infected 18 million computers per month in 2009, the most in the world, or 30 percent of the global total infected.According to the Internet Society of China, the number of cyber attacks from abroad saw a year-on-year increase of 148 percent in 2008.They not only affected a large number of netizens but also sectors of finance, transportation and energy, which posed severe harm to economic development and people's lives, the spokesman said.He noted the Chinese government had issued various regulations and launched many Internet safety campaigns against the attacks.The National Computer Network Emergency Response Technical Team dealt with more than 1,000 Web accidents in 2009 and helped recover economic losses for many banks and E-business Web sites.China has also taken part in the Internet safety emergency drill organized by the ASEAN countries for many times, and signed cooperation pacts with member countries of regional organizations in Asia.
BEIJING, March 7 (Xinhua) -- Foreign Minister Yang Jiechi said here on Sunday that China was misunderstood by some people who have accused the country of becoming "tough," and he called for the abandonment of "colored spectacles" about China."We stick to our principals, which is totally different from being tough," Yang said at a press conference on the sidelines of the annual session of the National People's Congress (NPC), the country's top legislature.Chinese Foreign Minister Yang Jiechi answers questions during a news conference on the sidelines of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 7, 2010It has always been the mission for China's diplomacy to defend China's sovereignty, security and development interests, while promoting world peace and development, he said.
BEIJING, Jan. 27 (Xinhua) -- Both output and sales values of China's machinery industry exceeded 10 trillion yuan (1.46 trillion U.S. dollars) last year, the China Machinery Industry Federation (CMIF) said here Wednesday.Output value reached 10.75 trillion yuan in 2009, up 16.07 percent from the year earlier. Sales value was 10.48 trillion yuan, up 16.11 percent,said Wang Ruixiang, the CMIF director.From January to November last year, the sector's profits reached 581.6 billion yuan, up 22.8 percent year on year.The auto sector was the "engine" that drove the overall growth of the industry last year, said Wang, adding nearly 30 percent of output value of the machinery industry was generated by automakers.Wang predicted the machinery sector would reach a 15 percent growth in output and sales values this year, with profits likely to grow 10 percent.
BEIJING, March 11 (Xinhua) -- China's February consumer price index (CPI), a main gauge of inflation, is still within normal range, although the figure surged higher than expected last month.CPI rose 2.7 percent year on year in February, 1.2 percentage points higher than January, driven by a 6.2 percent rise in food prices, the National Bureau of Statistics (NBS) said Thursday.Yang Ziqiang, head of the People's Bank of China's Jinan bureau, said the hefty rise is because the Lunar New Year holiday fell in February this year, but in January last year.The Lunar New Year holiday, or Spring Festival, is the most important traditional festival in China for family reunion. People usually spend a lot on food, alcohol, cigarettes and gifts during the period.Yang, also a deputy to the National People's Congress (NPC), China's top legislature, made the sidelines of the ongoing NPC session.China targets a rise of consumer price of around three percent this year, says a government work report delivered by Premier Wen Jiabao at the parliament's annual session on March 5.Yang said severe inflation is unlikely to emerge this year, as market supply still outweighs demand, and government regulation on the real estate industry will help stabilize prices.But he cautioned against the consistent commodity price increases, as the international crude oil prices rebounded to above 80 U.S. dollars a barrel.Li Daokui, a financial professor with the Tsinghua University, said CPI rise exceeds the current one-year deposit interest rate, or 2.25 percent, which will enhance the expectation of interest rate rise.China's CPI ended nine months of decline in November last year, when it rose 0.6 percent, as the economy picked up thanks to the government's stimulus package.However, the unprecedented bank loans last year together with runaway housing prices pushed up fears for inflation and asset bubbles, posing a policy dilemma for the government to balance between sufficient economic growth and containing potential overheating.
BEIJING, March 9 (Xinhua) -- Work place accidents in China reversed an upward trend and declined steadily over the past few years because of efforts to remove potential dangers, a senior trade union official said here Tuesday.Workplace accidents decreased 8.4 percent in 2009 from a year earlier, while work-related deaths dropped 8.8 percent, Zhang Mingqi, vice chairman of the All China Federation of Trade Unions, said at a press conference on the sidelines of the annual session of the National People's Conference, the country's top legislature.Zhang Mingqi, deputy president of the All-China Federation of Trade Unions, answers questions during a press conference on the function of Chinese trade unions during the transformation of the pattern of economic development held on the sidelines of the Third Session of the 11th National People's Congress in Beijing, China, March 9, 2010Last year, the administration hired more than 100 civilian inspectors to help improve work safety. It also stepped up efforts to eliminate potential dangers at work places and enhance training to improve awareness of workers' safety.
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BEIJING, March 10 (Xinhua) - A senior Chinese lawmaker said on Wednesday that legislation requiring public officials to declare their personal assets is under consideration and seen as a move to prevent corruption and improve government transparency."We are researching the issue, since the legislation requires mature consideration of all conditions," said Li Fei, deputy director of the Legislative Affairs Committee of the National People' s Congress (NPC) Standing Committee.Li noted that the legislation should be assisted by the establishment of the personal credit system, which details individuals' financial information even if assets are not declared.Premier Wen Jiabao said on March 5 that high priority should be given to fighting corruption and encouraging integrity among public officials.Leading cadres at all levels, especially high-ranking ones, must resolutely implement the central leadership's regulations on reporting their personal financial situations and property, including incomes, housing and investments, as well as the jobs held by their spouses and children, Wen said.
BEIJING, March 9 (Xinhua) -- China would step up work to monitor non-banking financing, said the China Banking Regulatory Commission (CBRC) Tuesday in a statement on its web-site.More focus would be put on businesses in connection with trust companies and the real estate sector to prevent banks from using non-banking financing to circumvent policies, said Liu Mingkang, chairman of the CBRC.The 2010 government loan target is 7.5 trillion yuan (1.10 trillion U.S. dollars). But in January alone, banks extended 1.39 trillion yuan in new loans -- 18.53 percent of the full-year target.More work should be done to improve risk management capacity to achieve sustainable development of the non-banking financing sector, Liu said.Non-banking financial institutions under the CBRC supervision include trust companies, finance companies, financial leasing companies, auto financing companies and money brokers.
BEIJING, March 14 (Xinhua) -- China's top quality watchdog said Sunday it has received complaints from consumers against HP laptops for quality problems.The General Administration of Quality Supervision, Inspection, and Quarantine pays close attention to the complaints and has started investigations, said a brief statement posted on the administration's website.The complaints included problems of overheated graphic chips and display screen problems.
BEIJING, Jan. 27 (Xinhua) -- China's banking regulator asked lenders to keep credit growth at reasonable pace in 2010 and vowed to tighten supervision on property loans amid increasing risk of asset bubbles."Banks should reasonably control new loans, better manage the pace and try to achieve balanced issuance and steady growth of credit quarter by quarter, " Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC) at a meeting on Tuesday.Despite regulator's repeated warnings on risks hidden from the record 9.6 trillion yuan of new loans last year, banks rushed to lend more than 1 trillion yuan in the first month of this year in fear of the expected tighter loan policy in 2010 after the credit binge last year as media reported.An official with the Industrial and Commercial Bank of China told Xinhua the credit growth in the first ten days of January was a little bit fast, and turned smooth in the last days of the month.According to the statement posted on CBRC's Web site on Wednesday, Liu said the regulator will pay special attention to the changes in the property market, strictly enforce relevant policy, and beef up the "window guidance" over credit to the real estate sector.But he restated banks should continue to support first-time home buyers.Liu also told banks to continue lending to fund rural development, small business, consumer spending and environmental protection.He said banks should keep adequate capital and heed of resurgence of bad loans.