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URUMQI, Aug. 12 (Xinhua) -- The 9th China Xinjiang International Agricultural Fair opened in the northwestern city of Urumqi Wednesday, attracting 110,000 business people from around the world. Representatives with 987 companies from 15 countries and regions have arrived to attend the three-day event, which features exhibitions of fertilizers, pesticides and seeds, the organizers said in a press release. It would be the largest fair compared with the previous eight sessions in terms of its visitors and scope, the organizers said. "The fair is held against the backdrop of global financial crisis and the July 5 riot," the press release said. "The organizers will arrange activities to promote Xinjiang's agricultural products that have not been selling well due to the aftermath of the riot." The riot in Urumqi, capital of Xinjiang Uygur Autonomous Region, has left 197 people dead, mostly innocent civilians, and more than 1,600 others injured. But business people still hope to cash in on the vast market opportunities of Xinjiang, which takes up a sixth of Chinese territory, as Urumqi is gradually recovering from the violence. "Our company entered the Xinjiang market in 2005 selling fertilizers and has won a wide recognition of local farmers," said Gu Rongbao, manager of the Jinlaifu Chemicals Import and Export Co. Ltd. from eastern Shandong Province. "We have confidence in the future development in Xinjiang." The annual fair is jointly organized by the regional government's departments of agriculture, animal husbandry among others.
BEIJING, July 31 -- China can expect to be a major target of rising trade protectionism - particularly from the United States and India - as the world struggles to recover from the global financial crisis, the Ministry of Commerce (MOFCOM) said Thursday. The crisis has pushed trade protectionist cases to a historical high. "The US is abusing trade protectionist tools to help its own industries tide over the economic slowdown. The loss for Chinese businesses is huge," said Zhou Xiaoyan, deputy director of the China Bureau of Fair Trade for Imports & Exports. As a consequence, China will have an even harder time than it does now, encountering anti-dumping, anti-subsidy and special protection cases, officials said. From last September to this June, the main World Trade Organization members, including the US and European nations, launched 77 cases worth .8 billion against China, increasing the number by 112 percent from a year earlier. Zhou said, moreover, that due to the sharp competitiveness of Chinese products and to the advantage it has of cheap labor costs, sufficient funds and high-quality technology, the country will be targeted for some time. The fair trade bureau, which is under MOFCOM, is responsible for dealing with trade protectionist cases. Cases centering on green barriers, such as a carbon tariff measure that the US might launch against developing nations to protect its businesses, will be another hot trend. China has especially been facing trade protectionist measures related to labor-intensive categories. The US and India have been among the most aggressive in the rising wave of protectionism, officials said. In April, for example, the US launched an anti-dumping and anti-subsidy investigation of oil-well steel tubing worth .2 billion, one of the largest ever for China. And also in April, the US launched a case against Chinese tire makers valued at about .2 billion, also the largest such case for China. The tire case, if approved by President Barack Obama in the fall, could spark a series of such cases by other nations. "The US has been a leader in launching measures against China," said Wang Rongjun, a professor at the Institute of American Studies of the Chinese Academy of Social Sciences. "The US," Wang said, "expects to transfer part of its economic slowdown to China, which is believed to be the quickest to recover." China and the US are each other's second-largest trade partner. The two nations have stressed since late 2008 that they have been fighting trade protectionism, including at the China-US Strategic and Economic Dialogue held in Washington this week. And in the case of India, it now has the most cases pending against China - from last September to June, it accounted for about 40 percent of the total. The cases cover a wide range of products, including textile, steel and chemicals. "As newly emerging nations are being brought directly into competing against China, the upward trend will continue," Zhou said. Despite falling exports, China still holds the largest share of labor-intensive products in the American and European markets, which threatens Indian businesses. "Compared with the US, India is far from reasonable," said Fu Donghui, managing director of the Beijing Allbright Law Firm, which deals with anti-dumping and anti-subsidy cases. "The Indians find any opportunity to challenge the Chinese. As long as there is any call from an Indian enterprise, the Indian government will launch an investigation, even without research." The MOFCOM plans to focus on cases involving the US and India. "We expect to find out the reasons behind that growth and learn how to avoid them in the future," Zhou said. For years, the Chinese government shied away from appealing to the WTO for help in battling trade protectionist measures. "The government should have actively appealed to the WTO to prevent foreign nations from abusing its rights," Fu said. China will now use the WTO tools to prevent its businesses from being hurt by foreign counterparts, but, nonetheless, it will be prudent, Zhou said.
BEIJING, Sept. 17 (Xinhua) -- China's securities authority Thursday began reviewing applications of the the first seven IPOs for listing on the Growth Enterprise Market (GEM), a Nasdaq-style market in China. The seven enterprises covered fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars). The review meeting was for the first time opened to journalists, who were allowed to watch the meeting for about ten minutes. The second batch of IPOs will be reviewed Friday and they plan to raise 1.13 billion yuan (165.30 million U.S. dollars), according to a report on the website of the China Securities Regulatory Commission (CSRC). IPO review meetings would be concentrated on these days, a CSRC official, who declined to be named, told Xinhua Monday. "IPO applications sent to the regulator were concentrated. The regulator had to take into consideration forming a block and guard against speculation that might push up IPO stocks prices," the official said. The CSRC started to accept applications of the GEM on July 26 and had received 155 applications for IPOs on the GEM as of Sept. 10. The CSRC has formally agreed to handle 149 enterprises' applications that aim to raise 33.61 billion yuan (4.92 billion U.S. dollars).
GUANGZHOU, Oct. 18 (Xinhua) -- Continuous severe drought over the past months has stunted rice crop, threatened reserviors and left hundreds of thousands of people short of drinking water in southern Chinese provinces. In the southern Guangdong Province, where the precipitation in the first 10 months this year has reported a 14 percent drop compared with the average level of the past years, more than 55,000 hectares of cropland are affected and 50,000 people are facing difficulties in getting drinking water because of the drought. Water level in Guangdong's reservoirs continued to drop. According to Guangdong Provincial Flooding and Drought Relief Headquarters, the water conservancy in Guangdong's 32 key reservoirs has reported a year-on-year decrease of 2.34 billion cubic meters. The drought is continuing to take a toll on agricultural production in the province. "I have never seen such a severe drought in my life," said a 73-year-old farmer in Zhoutian Township, Shaoguan City. "A great deal of crops have been damaged." There have also been concerns of further crop damage as drought harms crop's ability to weather the winter. In Nan'ao Island in Shantou City, home to more than 70,000 people, drought has brought inconveniences to local residents' daily bath and laundry. The drought has left more than 70,000 people in Zhangzhou City in the southeastern Fujian Province short of drinking water. Local hydraulic experts attribute the water shortage to the lingering drought as well as the water conservancy facilities' construction which lagged far behind the industrialization and urbanization. In the central Hunan Province, low water level in Dongting Lake, China's second largest fresh water lake, has forced local fishermen into idle. "October used to be a 'golden season' for fishing in the lake," said Gong Jianmin, a local fisherman. "But now we cannot go out to fish since the low water period has come early this year because of the drought." In the eastern Jiangxi Province, the average precipitation since Sep.1 has seen a year-on-year 66-percent drop. Most cities and counties in Jiangxi have reported drought.
BRUSSELS, Oct. 7 (Xinhua) -- China will work with Belgium to improve political trust and substantial cooperation to make new progress in bilateral ties, Chinese Vice President Xi Jinping said here Wednesday. During talks with Belgian Prime Minister Herman Van Rompuy, Xi put forward a four-point proposal to cement bilateral ties: -- To maintain high-level contacts and political dialogues. China welcomes King Albert II to participate in the 2010 Shanghai Expo and hopes the governments, parliaments and political parties of the two countries to increase exchanges for more understanding and trust; -- To consider the core interests and concerns of each other. China hopes the two sides would deal with the bilateral relations from a strategic and long-term perspective, properly handle disputes based on principles of mutual respect, equal treatment and noninterference in each other's internal affairs, to enhance the development of the bilateral ties in a healthy and stable way; Chinese Vice President Xi Jinping (L) shakes hands with Belgian Prime Minister Herman Van Rompuy, during their talks in Brussels, capital of Belgium, on Oct. 7, 2009. Xi Jinping arrived here on Wednesday to begin a five-nation European tour -- To actively boost tangible cooperation, including investment and technological cooperation. China welcomes Belgian companies to invest in China and encourages its own entrepreneurs to do business in Belgium; -- To increase human and culture exchanges. China will further promote exchanges with Belgium in various sectors including culture, education and tourism. Chinese Vice President Xi Jinping (2nd L) holds talks with Belgian Prime Minister Herman Van Rompuy (4th R) in Brussels, capital of Belgium, on Oct. 7, 2009. Xi Jinping arrived here on Wednesday to begin a five-nation European tourVan Rompuy said Belgium would work with China to push forward exchanges and cooperation in all areas. He spoke highly of China's stance in handling the current global financial crisis and the climate change, and pledged to strengthen coordination with China on regional and international issues. He reaffirmed that Belgium would always adhere to the one-China policy and the principle of noninterference in other country's internal affairs, and would not support any separatist activities. Following the talks, Xi and Van Rompuy attended the signing ceremony of a number of agreements on science, finance and trade cooperation. Xi arrived here Wednesday afternoon for an official visit to Belgium, the first leg of his European tour. He will also visit Germany, Bulgaria, Hungary and Romania.