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HEGANG, Heilongjiang, Nov. 23 (Xinhua) -- The death toll from the deadly coal mine blast in northeast China's Heilongjiang Province has risen to 104, said local authorities early Monday morning. Another four are still trapped in the shaft. Rescuers get ready to go down into the pit to search for survivors at the site of the accident at the Xinxing Coal Mine in Hegang City, northeast China's Heilongjiang Province, on Nov. 22, 2009 The blast happened at around 2:30 a.m. Saturday at the Xinxing Coal Mine under the state-owned Heilongjiang Longmei Mining Holding Group's subsidiary in Hegang City. A total of 528 miners were working underground when the blast happened.
TORONTO, Dec. 29 (Xinhua) -- The emerging markets of China, India and Brazil will lead the way in global auto sales in 2010, a report said Tuesday. The U.S. market, meanwhile, was expected to see a double-digit increase and will lead the growth of mature markets in 2010, said the global auto report by Canadian Scotiabank Economics. The report said that a cyclical recovery in global auto sales began in the spring of 2009 and would gain momentum in 2010. China became the world's largest auto market in 2009, surpassing purchases in the United States. Car sales in China surged by more than 40 percent to 7.3 million units this year thanks to government incentives. The incentives included a reduction in sales tax from 10 percent to 5 percent for small fuel-efficient vehicles with engines less than 1.6 litres. The incentives were expected to lift sales by 20 percent to nearly 9 million units in 2010, the report said. "Global car sales will continue to be buoyed by the ongoing massive and synchronized monetary and fiscal stimulus, which has generated a global economic recovery, including improving auto lending across the globe," said Carlos Gomes, senior economist at Scotia Economics. "In fact, we estimate that auto loans across major markets bottomed in the first quarter of 2009 and have improved consistently alongside a thawing in global credit markets and falling interest rates," he said. According to the report, improving access to credit and a return to 3-percent growth in the world economy will enable 2010 car sales to recapture half of the ground lost over the past two years, and set the stage for record volumes in 2011. Auto sales in the United States have reversed the downward trend, with volumes advancing above a year earlier since August alongside a nascent economic recovery. The report also predicted that through a vehicle scrappage program to spur the market, auto sales in Canada would reach 1.53 million units in 2010, up from 1.45 million this year. "On average, 7 percent of the Canadian fleet is replaced each year," Gomes said. "However, the scrappage rate slumped to less than 6 percent in 2009, as the global economic downturn prompted Canadians to tighten their wallets and continue to drive their aging vehicles.
BEIJING, Nov. 13 (Xinhua) -- China should keep home prices from long time "abnormal increases" and divert profits made from home price hikes to the public through taxation, a senior property official said here Friday. Dong Zuoji, director of land planning department of the Ministry of Land and Resources, said home prices would continue to rise as the land in the world's fastest-growing economy is becoming increasingly scarce, but the government should use taxes to give the added value of the land back to society. "China hasn't seen overcapacity in real estate sector on the whole, otherwise home prices wouldn't have gained so much," he said while attending a meeting held in Beijing. Dong said the government would increase land supply for subsidized homes and adopt measures to prevent developers from hoarding land. The government would also guarantee land use for high-tech, high added-value enterprises while limiting that of backward production projects. Due to a series of supportive measures adopted by the government, China's property sector rebounded strongly this year. Home prices in 70 large and medium-sized cities rose for the eight straight month in October. Average house price in Beijing surged 43.7 percent in July from that of January, to 14,500 yuan per square meter, Golden Keys, a property agent said on July 17.
GUANGZHOU, Nov. 1 (Xinhua) -- China is to maintain basic stability and continuity in the economic policies and RMB exchange rate to ensure a foreseeable prospect for its businesses. Minister of Commerce Chen Deming made the remarks Sunday at the Canton Fair, an important barometer of China's foreign trade, in Guangzhou City, capital of southern Guangdong Province. In the following months, China would maintain stability of the macro-economic policies, stick to the proactive fiscal policy and moderately easy monetary policy, Chen said. Meanwhile, the RMB exchange rate should also maintain relatively stable so that domestic manufacturers and exporters can better predict and adjust to the market, Chen added. Chen said the number of participants to the fair and the trade volume showed China's foreign trade was recovering, but uncertainties remained. Chen urged Chinese enterprises to enhance their competitiveness with better quality and lower cost by technological upgrading and restructuring. "Next year, our focus will be on the quality of export products," he said. "Enhancing competitiveness with better product quality and brand-building is also an effective way of avoiding trade protectionism," Chen added. In the previous three quarters this year, 19 countries and regions have launched 88 trade remedy investigations against Chinese goods, totaling 10.2 billion U.S. dollars. "In addition to the recovering export, China's import is also on the rise, contributing significantly to the recovery of the world economy," Chen said.
BEIJING, Dec. 7 (Xinhua) -- China's auto sales and output both exceeded 12 million units in the first 11 months, the China Association of Automobile Manufacturers (CAAM) announced Monday. The CAAM forecast sales and output for the whole year would both exceed 13 million units. In November alone, sales reached more than 1.35 million units, according to preliminary statistics. Detailed figures are expected to be released on Tuesday. The country's largest auto maker, Shanghai Automotive Industry Corporation, sold about 2.44 million auto units in the first 11 months, up 54 percent year on year, while Sino-U.S. joint venture company Shanghai GM sold 627,495 units, up 50.5 percent.