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BEIJING, Feb. 12 -- A sharp fall in imports and exports in January, which included a weeklong Spring Festival holiday, has both puzzled and alarmed economists. General Administration of Customs figures released yesterday showed exports plummeted 17.5 percent year-on-year, much sharper than the 2.8 percent fall in December. Imports fell even more dramatically, to 43.1 percent year-on-year. The combined foreign trade in January fell 29 percent year-on-year. Such a major decline in monthly foreign trade is rare in the 30 years of reform and opening up. General Administration of Customs figures released yesterday showed exports plummeted 17.5 percent year-on-year, much sharper than the 2.8 percent fall in December Because of the global economic downturn, foreign trade is likely to fall for several more months, the economists said. Su Chang, a macro-economic analyst with China Economic Business Monitor, said it could decline by 10 percent in the first quarter of this year. "It is possible that China's yearly record will be negative as well." But, he said the decline in imports would be largely because of the fall in prices of industrial materials. "Prices of primary goods - China's main imports - are at a low points now, while they were at historic highs just a year ago," he said. Last month, however, was an exception because it had one full week of holiday from January 26. The Chinese Lunar New Year is the most important festival for Chinese but usually it falls in February. So this year, January had five fewer working days than those in many of the previous years. If that is considered, the Customs said, exports actually rose 6.8 percent year-on-year in January. And compared with December, they increased 4.6 percent. The worldwide deflationary cycle was another problem, the economists said. The sharp drop in imports was caused both because of a fall in global prices (most noticeably of crude oil and farm products) and a drop in demand for electronic components, which reflected the shrinking of the country's manufacturing industry. Ting Lu, economist with Merrill Lynch in Hong Kong, said there was no good method to adjust for the Chinese New Year effects. "Our first suggestion: ignore them," Lu said in note to clients in the monthly trade figures. When compared with neighboring economies, experts said, China's record is not the worst. Jing Ulrich, analyst with JP Morgan, has written in a report that while the recent export slowdown has been alarming, it has not been as severe in China as in some neighboring economies that rely more heavily on the hi-tech sector. While Jing Wang, chief economist of Morgan Stanley, said China's export structure is more diverse, and as a result less volatile, in the region.
BEIJING, April 9 (Xinhua) -- The Ministry of Public Security announced a national action against human trafficking of women and children here Thursday, in wake of increasing incidences of these cases in China. "The country has seen an increasing incidence of human trafficking of women and children recently, though the police have continued fighting such crimes for years," said Zhang Xinfeng, vice minister of public security at a meeting. The nationwide crackdown will last from April to December this year, he said. Police must carefully investigate residents to identify women and children victims and rescue them, he said. They were also asked to collect information about possible victims and tightly follow leads, he said. The police will also crack down upon those who seduce or force children to beg on streets or commit crimes, especially those masterminding such gangs, he added.
BEIJING, Feb. 12 -- A sharp fall in imports and exports in January, which included a weeklong Spring Festival holiday, has both puzzled and alarmed economists. General Administration of Customs figures released yesterday showed exports plummeted 17.5 percent year-on-year, much sharper than the 2.8 percent fall in December. Imports fell even more dramatically, to 43.1 percent year-on-year. The combined foreign trade in January fell 29 percent year-on-year. Such a major decline in monthly foreign trade is rare in the 30 years of reform and opening up. General Administration of Customs figures released yesterday showed exports plummeted 17.5 percent year-on-year, much sharper than the 2.8 percent fall in December Because of the global economic downturn, foreign trade is likely to fall for several more months, the economists said. Su Chang, a macro-economic analyst with China Economic Business Monitor, said it could decline by 10 percent in the first quarter of this year. "It is possible that China's yearly record will be negative as well." But, he said the decline in imports would be largely because of the fall in prices of industrial materials. "Prices of primary goods - China's main imports - are at a low points now, while they were at historic highs just a year ago," he said. Last month, however, was an exception because it had one full week of holiday from January 26. The Chinese Lunar New Year is the most important festival for Chinese but usually it falls in February. So this year, January had five fewer working days than those in many of the previous years. If that is considered, the Customs said, exports actually rose 6.8 percent year-on-year in January. And compared with December, they increased 4.6 percent. The worldwide deflationary cycle was another problem, the economists said. The sharp drop in imports was caused both because of a fall in global prices (most noticeably of crude oil and farm products) and a drop in demand for electronic components, which reflected the shrinking of the country's manufacturing industry. Ting Lu, economist with Merrill Lynch in Hong Kong, said there was no good method to adjust for the Chinese New Year effects. "Our first suggestion: ignore them," Lu said in note to clients in the monthly trade figures. When compared with neighboring economies, experts said, China's record is not the worst. Jing Ulrich, analyst with JP Morgan, has written in a report that while the recent export slowdown has been alarming, it has not been as severe in China as in some neighboring economies that rely more heavily on the hi-tech sector. While Jing Wang, chief economist of Morgan Stanley, said China's export structure is more diverse, and as a result less volatile, in the region.
BEIJING, March 19 (Xinhua) -- Chinese President Hu Jintao met Thursday with the Premier of the Democratic People's Republic of Korea (DPRK), Kim Yong Il. Hu reviewed 60 years of China-DPRK ties, saying the friendship, initiated and fostered by the older generation of leaders, had withstood the test of international and domestic changes. "The friendship, which has kept developing, has become the common treasure of both nations," Hu said. Chinese President Hu Jintao (R Front) meets with Premier of the Democratic People's Republic of Korea (DPRK) Kim Yong Il (L Front) at the Great Hall of the People in Beijing, capital of China, March 19, 2009 The DPRK was among the first countries to establish diplomatic relations with China. The two countries forged diplomatic relations on Oct. 6, 1949, days after the People's Republic of China was founded. Hu said the Communist Party of China and the Chinese government attach great importance to ties with the DPRK. China would like to work with the DPRK for a better good-neighbor cooperation. Kim came to China on an official goodwill visit and launched the China-DPRK Friendship Year in Beijing, a year-long exchange program marking the 60th anniversary of diplomatic relations. "We should take the opportunity of the friendship year to carry forward our traditional friendship, deepen strategic communication and promote substantive cooperation for a stronger bilateral relations," Hu said. On the Korean Peninsula nuclear issue, Hu said a question confronting all parties concerned was how to overcome what he termed the current difficulties and resume the six-party talks at an early date. "We hope parties concerned will take the overall situation into consideration and properly resolve the differences in a bid to promote the further progress of the talks," Hu said. Initiated in 2003, the talks involve China, the DPRK, the United States, the Republic of Korea, Russia and Japan. The last round of talks, held in Beijing in December, failed to make any substantive progress. Kim, who was on his first visit to China since taking office in April 2007, hailed the deeply rooted DPRK-China friendship. "Under the leadership of both countries, DPRK-China relations have developed soundly in recent years," Kim said. He said the DPRK would unswervingly develop friendly cooperation with China and carry forward the bilateral traditional friendship. "The DPRK will, as always, make unremitting efforts to cement and develop friendly ties with China," he said. Kim said the DPRK people were happy about the significant achievements the Chinese people had made in economic and social development. During his five-day visit, Kim first traveled to east China's Shandong Province and talked with his Chinese counterpart, Wen Jiabao, Wednesday.
VALLETTA, Feb. 22 (Xinhua) -- Chinese Vice President Xi Jinping concluded his six-nation tour here Sunday and left for home. Xi arrived in Valletta on Saturday for a two-day official visit to Malta. During his visit, Xi met with Acting Maltese President George Hyzler, Speaker of House of Representatives Louis Galea and held talks with Prime Minister Lawrence Gonzi. During the meeting with Hyzler, Xi said that Sino-Maltese relations have been developing very well in recent years, with a frequent exchange of high-level visits, enhanced mutually beneficial cooperation, and active exchanges in such fields as culture, education and judicature. Chinese Vice President Xi Jinping (R, front) inspects the honor guards at a welcoming ceremony held by Maltese Prime Minister Lawrence Gonzi (L, front) in Valletta, capital of Malta, Feb. 22, 2009. China and Malta understand and support each other in major international and regional affairs, he said, adding that the two nations are "old friends and good friends" that have stood the test of time. For his part, Hyzler thanked China for the sincere help it has provided for Malta, and congratulated China on the great achievements of its modernization drive. He also noted that there has been a good cooperative relationship between Malta and China. Chinese Vice President Xi Jinping (L3, rear) and Maltese Prime Minister Lawrence Gonzi (L4, rear) attend a signing ceremony for a series of agreements between China and Malta, in Valletta, capital of Malta, Feb. 22, 2009While meeting with Galea, Xi said that parliamentary exchange is an important part of Sino-Maltese relations, and that strengthening exchange and cooperation between the two sides is of great significance for the development of bilateral ties and friendship between the two peoples. Both Hyzler and Galea reaffirmed that the Maltese government and parliament will firmly stick to the one-China policy. During talks with Prime Minister Gonzi on Sunday morning, Xi said China hopes to consolidate Sino-Maltese cooperation in bid to obtain new and fruitful results through actions to deal with the challenges stemmed from the financial crisis. Together with Gonzi, Xi attended the signing ceremony for a number of agreements on bilateral cooperation in economy, culture and judicature. On Saturday, the Chinese vice president also met with former President Guido de Marco and Labor Party leader Joseph Muscat. Malta was the final leg of Xi's six-nation tour, which also took him to Mexico, Jamaica, Colombia, Venezuela and Brazil.