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TIANJIN, Sept. 5 (Xinhua) -- Executives from China's auto makers Sunday rejected an official warning that unchecked growth in the industry was leading to excess capacity and could harm the wider economy.Chen Bin, an official with the National Development and Reform Commission, China's top economic planner, Saturday said excess auto capacity threatened sustainable economic development and must be "resolutely" stopped.But industry representatives and the China Association of Automobile Manufacturers (CAAM) Sunday argued car makers were only trying to meet expected demand in the world's largest auto market.Dongfeng Automobile, a major Chinese auto manufacturer, had been running in top gear since last year, said Fan Zhong, a senior manager. "Our problem is not having enough capacity."Most entrepreneurs at the International Forum on Chinese Automobile Industry Development in Tianjin had similar views.Ford China was focusing on expanding capacity as demand kept rising, said CEO Robert Graziano.The overall capacity of China's auto industry might seem excessive, but the market had huge potential for restructuring and growth, said Hu Xinmin, honorary chairman of the CAAM.

CAIRO, Sept. 26 (Xinhua) -- Chinese and Egyptian industry officials vowed closer bilateral economic ties on Sunday with the signing of an industrial cooperation agreement.Egyptian Minister of Trade and Industry Rachid Mohamed Rachid met with Chinese Minister of Industry and Information Technology Li Yizhong. Both talked about the expansion and improvement of bilateral trade and economic cooperation.Rachid told reporters that he hoped the new agreement would pave the way for more cooperation in different industry sectors including manufacturing of cars components, textiles, petrochemicals, electronics and technology."This agreement includes the process of sharing technology and increasing investment in the industrial sector and training of workers as well as helping Egyptian companies promote their products in the Chinese markets," said the Egyptian minister.The agreement also included the formation of an Egyptian- Chinese task force that takes the responsibility of sharing information and experiments in the industrial sectors and encouraging Egyptian and Chinese firms to establish joint ventures in different areas of cooperation, according to Rachid.Rachid said that Egypt wanted to benefit from the successful Chinese experience in the industrial sector.Egyptian Prime Minister Ahmed Nazif also met with the Chinese minister. The prime minister said Egypt shows great interest in boosting cooperation with China.The bilateral trade between Egypt and China increased from 3 billion U.S. dollars in 2006 to 6.24 billion dollars in 2008, according to Chinese Ambassador to Egypt Wu Chunhua.By the end of last year, Chinese investment in Egypt exceeded 500 million U.S. dollars. Chinese auto companies such as Chery Automobile and Brilliance Automobile have had assembly lines here in Egypt.Rachid expected that the Egyptian-Chinese cooperation would witness a great milestone in all sectors, particularly the trade and industry relations thanks to exchanges in the economic and political levels.

BEIJING, Sept. 6 (Xinhua) -- China will unswervingly promote the policy of reform and opening up, while creating sound environment for foreign companies operating in China, Vice Premier Wang Qishan told senior U.S. officials Monday.Wang exchanged views on China-U.S. ties and economic and trade cooperation with Lawrence Summers, head of U.S. President Barack Obama's National Economic Council, and Deputy National Security Adviser Tom Donilon, in a meeting in Beijing.Wang said the two countries should bolster cooperation in areas such as economy and trade, investment, finance, new energy and infrastructure upgrading, as their economies are interdependent and complimentary to each other.China is ready to work with the United States to well implement consensus reached by state leaders of the two countries, for sustainable, healthy and steady development of bilateral ties, he said.Wang said the international community should enhance cooperation because the world economy, though on the way to recovery, still encounters twists and turns.He said China is focusing on the change of the growth pattern for more balanced development of the economy.Summers and Donilon briefed Wang on the U.S. economy and the Obama administration's measures to stimulate the economy and create jobs.They stressed that the United States and China should strengthen coordination in macro policies and promote cooperation for a strong, balanced and sustainable growth of global economy.Also on Monday, Li Yuanchao, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met with the two U.S. officials.Li, also head of the Organization Department of the CPC Central Committee, said the Sino-U.S. ties had maintained a stable development since President Obama took office.China would work with the United States to enhance dialogues and cooperation, while properly handling the differences, to push forward the bilateral ties, he said.8 Summers said the United States attached great importance to the U.S.-Sino relations and firmly believed that the two countries had broad interests and faced with common challenges, including sustainable development of global economy, regional security and climate change.He said the United States was committed to working with China for a positive, cooperative and comprehensive relationship in the 21st century.Chinese Foreign Minister Yang Jiechi also met with Summers and Donilon on Monday. The two sides exchanged views on the future development of Sino-U.S. relations and regional and international issues of common concern.

BEIJING, Oct. 23 (Xinhua) -- China welcomed the World Trade Organization's (WTO) ruling that United States imposition of anti-dumping and countervailing duties on four types of Chinese imports was inconsistent with WTO regulations, the Ministry of Commerce (MOC) said Saturday.The four categories of Chinese imports include standard steel pipe, rectangular steel pipe, laminated woven sacks, and off-road tires, according to an online statement posted on the MOC's website.In a report released Friday, the WTO's dispute settlement body found that the U.S. department of Commerce had acted inconsistently with WTO rules on five elements of the case, which China filed to the WTO in 2008.The U.S. should conduct trade remedy investigations strictly in accordance with the WTO regulations, an unnamed official from the MOC's Department of Treaty and Law said in the statement.However, China was also concerned over some views and rulings made by the WTO expert panel, and would handle issues such as complaints according to WTO disputes settlement procedures, said the official.

BEIJING, Oct. 25 (Xinhua) -- China's Ministry of Commerce (MOC) said on Monday it would levy provisional anti-dumping duties of up to 37.5 percent on methanol imported from Indonesia, Malaysia and New Zealand.After a preliminary investigation, the MOC found the three countries had dumped methanol onto the market, causing material damage to Chinese manufacturers.The MOC has imposed provisional anti-dumping duties ranging between 9.3 percent and 37.5 percent effective Oct. 28, according to a news release on its website.The MOC also concluded its investigation into imports from Saudi Arabia, though no evidence of dumping was found.Methanol, also known as methyl alcohol, is used as a basic material to produce chemical products such as plastics, paint, construction materials and windshield cleaning fluid.