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BEIJING, Sept. 7 (Xinhuanet) -- China will "vigorously" expand its imports of key products as the nation strives to cut its trade surplus amid growing protectionism against the world's largest exporter, a senior Chinese trade official said on Monday."We will especially encourage imports of products the nation is short of, especially advanced technology and key equipment," said Chong Quan, China's deputy international trade representative.Special attention will be paid to expanding imports from countries that China has a trade surplus with, he said at the China Import Forum organized by the Ministry of Commerce.Due to their domestic economic woes and political pressure, some developed countries, in particular the US, have accused China of piling up trade surpluses through policies such as an undervalued currency. This argument conveniently ignores other factors at play, such as their own export restrictions.Nonetheless, in the first six months of this year, US exports to China increased 35.7 percent year-on-year, 13 percentage points higher than its overall export growth, according to US figures.Despite the surge of its trade surplus in July, which stood at .7 billion, China will see the surplus drop dramatically for the year to about 0 billion, compared to 0 billion in 2009 and 0 billion in 2008, trade officials said. The country even registered a rare trade deficit of .2 billion in March.As a result of the shift in strategy, the ratio of China's current account (mainly trade of goods) balance to its gross domestic product has been dropping continually since 2007, said Zhang Yansheng, director of the Institute of Foreign Trade at the National Development and Reform Commission."China's processing trade (bringing in goods and exporting finished products), which is the bulk of its exports, could plummet in the coming five years," he said.
DOHA, Nov. 7 (Xinhua) -- Qatar's Prime Minister said Monday that Qatar attaches great importance to its relations with China and hopes the two countries' media could enhance cooperation as part of the efforts to bring bilateral ties to a new high.Sheikh Hamad bin Jasim bin Jabir al-Thani made the remarks during a meeting with He Ping, editor-in-chief of China's official Xinhua News Agency.Sheikh Hamad said Qatar and China share mutual interests in many aspects and bilateral cooperation in such fields as politics and economy have made remarkable headway in the past years.The prime minister expressed the hope that the two countries' media could play their due role in the development of bilateral relations.For his part, He Ping said China and Qatar have enjoyed ever- deepening relations in the past years driven by efforts from the two countries leaders.He said Xinhua would join hands with Qatari media to tap new channels in cooperation to deepen the understanding and friendship between the two peoples.He is heading a delegation in Qatar for a two-day visit to the Gulf state.
HANOI, Oct. 29 (Xinhua) -- Chinese Premier Wen Jiabao on Friday made proposals for boosting cooperation, especially in economy and trade, at a series of ongoing summits between the Association of Southeast Asian Nations (ASEAN) and its partners including China, Japan and South Korea.He attended the China-ASEAN summit, the summit of ASEAN Plus Three, namely China, Japan and South Korea, and a meeting of the leaders of the three countries.Wen also held bilateral talks with Singaporean Prime Minister Lee Hsien Loong and Indian Prime Minister Manmohan Singh on the sidelines.CHINA-ASEAN COOPERATIONWen and other leaders at the 13th summit between China and the ASEAN voiced their commitment to further strengthening their strategic partnership and comprehensive cooperation.Wen made a six-point proposal to further enhance the strategic partnership between China and Southeast Asian nations, saying the cooperation has been "most pragmatic, most extensive and most fruitful.""We should continue to pursue peaceful development through friendly cooperation" and must work together to ensure that "the China-ASEAN cooperation stay at the forefront of East Asian cooperation," Wen said.Topping the list of priorities is the further promotion of economic and trade relations between the two sides, Wen said.Wen said China will further expand imports from and facilitate trade with ASEAN members in the coming years in the hope of bringing the annual bilateral trade value to 500 billion U.S. dollars by 2015.ASEAN PLUS THREE SUMMITAt the ASEAN Plus Three summit involving ASEAN and China, Japan and South Korea, Wen proposed that they speed up work on establishing the East Asia Free Trade Agreement (FTA) and boost cooperation in finance and other areas."Stronger ASEAN Plus Three cooperation is essential to the revitalization of East Asia," Wen said at the summit.On the East Asia FTA, Wen said China, as the lead sherpa of the ASEAN Plus Three business cooperation, has put forward the roadmap for ASEAN Plus Three trade facilitation for the next five years."China will consult with other parties and propose specific measures to further advance trade and investment liberalization and facilitation within the region," he said.With China, Japan and South Korea each having their respective FTAs with the ASEAN in place, the three countries should move faster towards the establishment of a free trade agreement, Wen said.China, Japan and South Korea have decided to sign a tripartite investment agreement as soon as possible and complete the joint FTA study involving the government, industry, and academia by 2012, he said.Wen also called for efforts to deepen financial cooperation, saying that the two sides should make the Chiang Mai Initiative Multilateralization more effective and improve its operation procedures.Meanwhile, those countries should probe ways to encourage cross-border bond transaction and settlement in the region, and intensify the capacity-building for the development of the bond market, he said.The premier also called for promoting cooperation in food security, agriculture, infrastructure construction and education.On food security, Wen said China stands ready to join efforts with all other parties to build the ASEAN Plus Three Emergency Rice Reserve. He pledged a further 1 million dollars in donation to the reserve.Wen also urged the strengthening of communication and coordination among the ASEAN Plus Three on major international issues, and pushed for positive outcomes at major international conferences like the G20 summit.
PYONGYANG, Oct. 10 (Xinhua) -- Zhou Yongkang, a senior official of the Communist Party of China (CPC), attended a grand evening gala held to celebrate the 65th anniversary of the Workers' Party of Korea (WPK) on Sunday evening.Zhou, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, secretary of the CPC Central Commission of Political and Legal Affairs, was on a three-day official visit to the Democratic People's Republic of Korea (DPRK).Zhou watched the performance on the Kim Il Sung Square with Kim Jong Il, top leader of the DPRK and other leaders of the DPRK's party and government.Kim Jong Il (3rd R), top leader of the Democratic People's Republic of Korea (DPRK), and Zhou Yongkang (2nd R), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the Political and Legislative Affairs Committee of the CPC Central Committee, watch a grand evening gala held to celebrate the 65th anniversary of the founding of the Workers' Party of Korea (WPK) on the Kim Il Sung Square in Pyongyang, capital of the DPRK, Oct. 10, 2010.There were nearly 100,000 Pyongyang citizens in traditional costumes forming various phalanxes.The performance, which was divided into three parts, showcased, through grand and splendid group dances, the development history of the WPK under the leadership of President Kim Il Sung and General Secretary Kim Jong Il and the DPRK's achievements in economic construction and improving people's living standards in recent years.Zhou arrived here Saturday for a three-day official visit.