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BEIJING, Dec. 9 (Xinhua) -- The Chinese government reiterated Wednesday that to spur "sustainable and fast consumer spending" will be a priority next year, as the world's third-largest economy seeks to break from dependence on export and government pump-priming to drive post-crisis growth.     The government will continue to raise the earnings of the middle and low income groups to boost consumer spending, said a senior official with the nation's top economic planning body.     The government will step up research on optimization the income distribution mechanism to improve residents' purchasing power, Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), made the remarks at a national meeting charting the ministry's work in 2010.     The rare official stance on improving income distribution echoed the unanimous call from experts and the general public to bridge the yawning wealth gap between the rich and poor, which underlined the government's resolution to address the simmering social conflicts and the urgency to rebalance economic growth.     Zhang said the government will exert more efforts to sort out problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability.     In concrete, the government will raise the pensions for enterprise retirees and improve treatment for those who enjoy special care. Local education, cultural and health-care facilities will also receive greater subsidy for expansion.     To revive the economic growth which lapsed to a decade low amid the global financial crisis, Chinese government unveiled a 4-trillion-yuan stimulus package, which was led by government investment, to counter falling exports, the driving force of the Chinese economy before the crisis took a toll.     As a result, as the GDP growth accelerated to 8.9 percent in the third quarter, investment contributed 7.3 percentage points while consumption devoted 4 percentage points.     "As the Chinese authorities have recognized that the rapid pace of recovery has exacerbated some of the economy structural imbalances, the authorities will focus on rebalancing growth, primarily by supporting consumption and private investment, with many consumer incentives to be carried out in 2010," said Jing Ulrich, managing director and chairman of China Equities and Commodities of J.P. Morgan.     Also on Wednesday, the State Council, or cabinet, decided to renew the preferential policies introduced early this year to boost car and home appliance sales.     "While investment growth should be managed at a reasonable pace, consumer spending should maintain sustainable and relatively fast expansion," Zhang said.     As investment binge and runaway bank lending prompted fears for asset bubble, Zhang said the government will step up efforts to curb speculative property transaction, and provide more affordable housing to middle and low income families.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao said here on Tuesday that the key to Sino-U.S. relations was to mutually respect and accomodate each other's core interests and major concerns while differences from different national conditions were normal.     "The China-U.S. relations are very important. Maintaining and promoting such ties is a shared responsibility of both sides," Hu told reporters here after meeting visiting U.S. President Barack Obama.     China is ready to work together with the United States to push forward the continuous, healthy and stable development of Sino-U.S. relations to better serve the interests of the two peoples and the people around the world, said the Chinese leader.     Hu said that the two sides have reaffirmed the "cardinal principle" of "mutually respecting national sovereignty and territorial integrity" and voiced opposition to any attempt by any force that violates this principle.     He said that China appreciates President Obama's support for the one-China policy and the three Sino-U.S. joint communiques, and his respect for China's national sovereignty and territorial integrity on the Taiwan issue and other matters.     "We have both agreed to conduct dialogues and exchanges on issues including human rights and religion, in the spirit of equality, mutual respect and non-interference in each other's internal affairs, so as to boost understanding, mitigate differences and broaden consensus," Hu said. 

BEIJING, Nov. 12 (Xinhua) -- A new pricing mechanism of fuel surcharge that links it with airlines' jet fuel costs has been introduced to offset rising jet fuel costs, China's top economic planner announced here Thursday.     The National Development and Reform Commission (NDRC), together with the Civil Aviation Administration of China (CAAC), said in a statement on its website that the fuel surcharge keep abreast with China's jet fuel comprehensive purchasing costs.     The new mechanism, which would take effect on Nov. 14, aims to "help the airlines with fluctuating fuel prices", as jet fuel costs usually account for 40 percent of the total costs of China's airline companies, said the statement.     Under the new mechanism, airline companies could decide themselves whether to charge fuel surcharge and how much to charge if jet fuel comprehensive purchasing cost, which is the weighted average of domestic factory-gate prices for jet fuel and prices of imported fuel, reaches certain level.     Currently, the surcharge level was set uniformly by the government.     According to the new mechanism, when jet fuel comprehensive purchasing cost is lower than 4140 yuan per tonne, the benchmark price of jet fuel, airline companies should not charge fuel surcharge.     When jet fuel comprehensive purchasing cost exceeds the level, the companies should digest at least 20 percent of the rising cost and then charge appropriate surcharge, the statement said.     Also, fuel surcharge should be reduced or canceled within five days after jet fuel comprehensive purchasing cost drops, it said.     China raised gasoline and diesel prices both by 480 yuan (70.28U.S. dollars) per tonne Tuesday. The benchmark price of gasoline reached 7,100 yuan a tonne and that of diesel 6,360 yuan a tonne, according to the NDRC.

BEIJING, Dec. 10 (Xinhua) -- Ruling parties of China and Japan on Thursday pledged to deepen trust and work together for a stronger strategic relationship of mutual benefit between the two countries.     The pledge came out of a meeting between Chinese President Hu Jintao and Secretary General of the Democratic Party of Japan (DPJ) Ichiro Ozawa in Beijing on Thursday afternoon. Ozawa is leading a delegation of 600-strong members, including 146 DPJ lawmakers from the upper and lower houses of the Japanese Diet, for a four-day visit in Beijing. Chinese President Hu Jintao (R) meets with Secretary General of the Democratic Party of Japan (DPJ) Ichiro Ozawa in Beijing, capital of China, Dec. 10, 2009. Ozawa led a delegation of 600-strong members for a four-day visit in Beijing    The group is the first DPJ-led delegation to China since the DPJ came to power in September.     Hu started the meeting by calling Ozawa "an old friend of the Chinese people who visited China many times and made important contribution to bilateral relations." Chinese President Hu Jintao (R) shakes hands with members of a delegation led by Ichiro Ozawa, secretary general of the Democratic Party of Japan (DPJ), in Beijing, capital of China, Dec. 10, 2009.This was the third meeting in Beijing between Hu and Ozawa, who visited China in capacity of the DPJ leader in 2006 and 2007.     "The Communist Party of China (CPC) attaches great importance to relations with DPJ and would like to work together to improve party-to-party exchange mechanism," said Hu, who is the general secretary of the CPC Central Committee.     Hu called for concerted efforts to make the mechanism an important platform for the two ruling parties to hold dialogues, enhance trust, promote cooperation and seek common development in a bid to boost the sound and in-depth growth of bilateral relationship.     Ozawa echoed Hu's views, saying the DPJ was committed to bolstering Japan-China ties and would continue to make best of the party-to-party exchange mechanism for a better strategic relationship of mutual benefit.     On the broader China-Japan relations, Hu said the two countries had interacted actively and undergone a smooth transition since the DPJ became Japan's ruling party in September.     Hu said he and Japanese Prime Minister Yukio Hatoyama reached important consensus on furthering the strategic relationship of mutual benefit and bringing the bilateral relationship to a new era.     Stressing the principle and spirit of four political documents between the two countries, Hu said China would like to work more closely with Japan to properly address the sensitive issues between them and jointly tackle global challenges.     Ozawa praised China's economic and social progress and its constructive role in international affairs.     Ozawa said profound changes in the international arena offered a broad prospect for Japan and China to work together in all fronts.     Prior to the two leaders' meeting, Hu and the Japanese delegation had their group photos taken at the Great Hall of the People in downtown Beijing.     The delegation was the 16th one under the "Great Hall Program," a people-to-people exchange scheme initiated in 1989. The program has so far sent about 350 Japanese lawmakers and more than 2,000 representatives from various circles to visit China.

BEIJING, Oct. 26 -- Shanghai has applied to regulators to launch a free exchange between the yuan and the New Taiwan dollar to enhance financial cooperation, the head of the Shanghai Financial Service Office said Sunday.     "With growing trade between Shanghai and Taiwan in recent years, we hope that a free exchange between the yuan and the New Taiwan dollar can be conducted in Shanghai as a trial," said Fang Xinghai at the 6th China International Finance Forum.     "We have applied to the regulators and expect it will be approved soon," Fang said at the two-day forum which ended Sunday.     Shanghai has recently launched a cross-border currency clearing system and Fang expects that it will be extended to Taiwan soon.     By the end of April, Taiwan had invested 5 billion U.S. dollars in more than 6,000 projects in Shanghai, and trade between the two sides totaled 13.68 billion dollars in the first eight months of this year.     Although the two sides must overcome some barriers in financial cooperation, Fang said they can explore possibilities in innovative products, such as exchange-traded funds that enable investors to buy or sell shares in an entire benchmark portfolio.     "The Shanghai Stock Exchange is making efforts to introduce ETFs based on overseas equity indices (and) we can also expect Taiwan and the mainland to introduce ETFs based on each other's index," Fang said.     The two sides can also cooperate in sectors that are not directly supervised by the central government, such as venture capital.     "Taiwan is very successful in the venture capital sector, while the Chinese mainland is still in the first stage. Policies have now been eased so that Taiwan VC firms can set up branches on the mainland," Fang noted.     The Chinese mainland and Taiwan in April sealed a cooperative financial regulatory mechanism.