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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.

WUHAN, Nov. 28 (Xinhua) -- A senior leader of the Communist Party of China (CPC) has urged officials and governments at all levels to serve the people by addressing their concerns.     He Guoqiang, member of the Standing Committee of the CPC Central Committee, made the remarks during his visit in Chibi City of central China's Hubei Province on Saturday.     He said officials and governments must solve well the problems that concern people's immediate interests to ensure social harmony and stability.     When visiting a local village and urban community of the city, He urged local officials to help residents increase their incomes and answer the needs required by the people.     He asked the officials to improve their ability of resolving practical problems to bring about more tangible benefits to local people.     He, also secretary of the Central Commission for Discipline Inspection of the CPC, also called on local Party organs to improve their organizational construction, promote intra-party democracy and strengthen the struggle against corruption.

HUA HIN, Thailand, Oct. 26 (Xinhua) -- With a delighted and relieved smile, Chinese Premier Wen Jiabao waved to the crowd on Sunday at the airport in Thai resort Hua Hin before he left for home.     The premier has successfully finished his visit to Thailand after attending a series of summit meetings related to the Association of Southeast Asian Nations (ASEAN) during the past three days. China's Premier Wen Jiabao (L Front) arrives in Hua Hin, Thailand, Oct. 23, 2009 for a series of meetings related to the Association of Southeast Asian NationsThis is Wen's second visit to this country in 2009. Half a year ago, despite extreme political turbulence in Thailand, Wen decided to attend the ASEAN summits in Pattaya in a bid to show China's sincerity to the world.     During the 22 hours in Pattaya, Wen used all possible chances to hold talks with the leaders at the summits and meet journalists, transmitting China's determination and confidence in overcoming the global financial crisis and pushing forward East Asia cooperation. Chinese Premier Wen Jiabao (C) meets the press in Hua Hin, Thailand, Oct. 23, 2009. Wen had been deeply convinced that enhancing cooperation and working together to overcome the difficulties of the time were in accord with the fundamental interests of East Asian peoples.     Once we had sincerity, determination and confidence, the hope would not be dashed, the premier said.     During the following six months, the Chinese government decided to set up a 10-billion-U.S. dollar China-ASEAN investment cooperation fund, establish the China-ASEAN Free Trade Area, and provide financial support to ASEAN countries. Trade between China and ASEAN has entered into the period of recovery since September. Chinese Premier Wen Jiabao has a working lunch with leaders attending the fourth East Asia Summit in the southern Thai resort town of Hua Hin, Oct. 25, 2009At the Oct. 23-25 Hua Hin summits, Wen brought not only good news of China's economic rebound, but also a six-point proposal for strengthening cooperation between China and ASEAN, which included building an economic cooperation zone and boosting cooperation in such sectors as investment, agriculture, intellectual property rights, infrastructure construction and culture.     Wen emphasized that challenge could turn into opportunity, cooperation could bring strength, while innovation could contribute to success.     The blueprint of East Asia cooperation would be better, he said, adding that the hope is just like "an imperishable lighthouse," which leads the East Asian people amid ups and downs.     Mutual respect and trust constitute the foundation for cooperation. Wen held a series of meetings with leaders of other countries during the ASEAN summits, with his meetings with Indian Prime Minister Manmohan Singh and Australian Prime Minister Kevin Rudd having been widely followed. Chinese Premier Wen Jiabao (R) meets with Indian Prime Minister Manmohan Singh in Hua Hin, Thailand, on Oct. 24, 2009. Wen arrived here on Friday evening to attend the summit meetings of the Association of Southeast Asian Nations (ASEAN) with its partnersWen and Singh have confirmed their strong willingness for common and harmonious development between the two sides during their talks.     Maintaining good-neighborly and friendly relations as well as mutual beneficial cooperation between the two big developing countries would not only benefit both peoples, but also bring hope for Asia and the world, the two leaders said. Chinese Premier Wen Jiabao (R) meets with Australian Prime Minister Kevin Rudd in Hua Hin, Thailand, October 24, 2009. Wen Jiabao and Kevin Rudd are here to attend a series of leaders' meeting related to the Association of Southeast Asian Nations (ASEANAlthough China and Australia have different political systems, levels of economic development, historical and cultural background, common interests had led to an increasingly close relationship between the two Asia-Pacific powers.     The talks between Wen and Rudd had shown that there would be no unconquerable difficulties as long as the two sides treated each other with mutual respect and pursued win-win cooperation.     Establishing an East Asian Community is the common desire of the people in the region, though the path toward realizing the goal will be long and bumpy.     China will sincerely, firmly, actively and effectively engage in pushing forward the integration of East Asia.     Half a century ago, together with India and Myanmar, China proposed the Five Principles of Peaceful Coexistence, advocating for mutual respect, equal treatment and friendly cooperation among all nations. In the early 1990s, China initiated the cooperation between ASEAN and itself. In the aftermath of the Asian financial crisis, the regional cooperation in East Asia began to pick up in pace.     Wen firmly expressed at the Hua Hin summits that China would work with East Asian nations toward realizing the long-term goal of establishing the East Asian Community.     The clouds of the international financial crisis remain overhead. However, consensus and hopes are in the making among the members of East Asia, shining as an ever-bright lighthouse and leading the way to a more promising future.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama issued the China-U.S. Joint Statement here Tuesday, expressing the hope that the multilateral mechanism of the Six Party Talks would convene at an early date.     The two presidents reaffirmed in the joint statement the importance of continuing the Six Party Talks process and the denuclearization of the Korean Peninsula.     The joint statement said the two sides will work together with other parties concerned to comprehensively achieve the purpose and overall goal of the Six Party Talks through consultations and dialogues.     "The Chinese side welcomed the start of high-level contacts between the United States and the DPRK," said the joint statement.

BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day.     Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits.     About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market.     The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively.     The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price.     Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months.     Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback.     China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan.     It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later.     China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States.     Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007.     The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then.     By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu.     Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction.     The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride.     Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses.     "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled."     The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent.     Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations.     The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.