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DAVOS, Switzerland, Jan. 28 (Xinhua) -- China and Switzerland formally launched bilateral talks on a free trade agreement Friday.Speaking at the opening ceremony, Chinese Commerce Minister Cheng Deming said the agreement talks between China and Switzerland have attracted huge attention and interest from the countries' leadership and business communities.Cheng expected a successful conclusion of the FTA negotiations. Cheng said a free trade agreement would enhance mutual trust between the two sides and promote economic development and closer ties between China and Switzerland.Swiss Federal Councilor Johann Schneider-Ammann expressed similar aspirations for the agreement as did his Chinese counterpart."The free trade agreement would further enhance trade and investment relations on a mutually beneficial basis, but also create many new opportunities for close exchange and cooperation," Schneider-Ammann said.China and Switzerland have seen fast-growing bilateral trade and investments for decade. In the past 10 years, China's exports to Switzerland have grown by 18 percent while Switzerland registered an even stronger 25 percent surge in exports to China.Currently, China is the largest trading partner of Switzerland in Asia, while Switzerland ranks ninth among China's trading partners in Europe.The Chinese commerce minister is leading a delegation at Davos to attend the World Economic Forum, which started Wednesday.

WASHINGTON, May 27 (Xinhua) -- The U.S. Treasury Department said in a report released on Friday that China was not manipulating its currency."In China, since the authorities decided in June 2010 to allow the exchange rate to appreciate in response to market forces, the renminbi (RMB) has appreciated by a total of 5.1 percent against the dollar in nominal terms through the end of April 2011, or at an annual pace of approximately 6.0 percent," noted the semi- annual report on international economic and exchange rate policies.The Treasury said that as inflation in China is significantly higher than it is in the United States, the renminbi has appreciated more rapidly against the dollar on a real, inflation- adjusted basis, at a rate of around 9 percent per year.The delayed report, which was originally scheduled to be sent to the Congress on April 15, finds "no major trading partner of the United States" manipulated its currency during the period covered in the report.The Treasury added that it will continue to "closely monitor" the renminbi appreciation pace.The report also noted that the U.S. economy is recovering from its deepest recession in the post-war period."While recent growth is encouraging, the economy still faces significant challenges," said the report. The number one challenge is still in the labor market.The U.S. unemployment rate, currently at 9.0 percent, is not expected to fall significantly this year.Besides, housing market and long-term fiscal position are " unsustainable," according to the report.In recent remarks, Treasury Secretary Timothy Geithner stated that China is the fastest growing market for U.S. exports. In 2010, U.S. exports to China grew at a pace that was 50 percent higher than the rest of the world.

CHENGDU, Jan. 30 (Xinhua) -- Over the crowds of holiday shoppers in China's big stores this Spring Festival lingers an atmosphere of suspicion.With charges of price deception hanging over the big chains of Carrefour and Wal-Mart and local authorities moving to levy fines, many Chinese -- normally averse to be pinching pennies during the Lunar New Year -- are checking their receipts at the tills.The New Year, which falls on Feb. 3 this year, is normally a time of largesse and excess -- all the more reason why many shoppers feel so betrayed.Customers can be seen recording label prices in notebooks or calculating their final bill on their mobile phones as they walk the aisles.At outlets of Carrefour and Wal-Mart in cities such as Beijing, Shanghai and Chengdu, the check out queues have grown as customers doublecheck prices at the tills."I would never have imagined global firms would do this intentionally and I have to be cautious," said a woman surnamed Wang, after shopping at a foreign-owned supermarket in Chengdu, southwest China's Sichuan Province.With three bulging shopping bags, Wang stood next to the check out to calculate the final bill: "We buy a lot for the New Year celebrations, so I have to be more careful."The official weeklong Spring Festival holiday, which starts Wednesday, is China's closest equivalent to the West's Christmas shopping season, with generous gifts of food, tobacco, liquor and other presents for family and friends.According to the Ministry of Commerce, China's retail sales hit 340 billion yuan (49.8 billion U.S. dollars) during the Spring Festival holiday week last year."The deceptive pricing practices of the two foreign-funded supermarket giants were a total scandal," said Wang. "I have to be careful with the prices and the labels.""Cheating by the supermarkets is the same as stealing. I might have suffered losses as I don't normally check receipts," said a Chengdu man surnamed Li.Wal-Mart (China) Investment Co., Ltd. offered a "sincere apology" to affected customers on Thursday. The company has been cooperating with investigations into the cheating. It has also launched inspections of stores nationwide.Chen Bo, spokesperson for Carrefour China, said Sunday that Carrefour sincerely apologized to Chinese customers for inconvenience and losses caused by pricing irregularities.Carrefour would refund customers five times the difference between the price charged and that on the label. The refund policy would be implemented at Carrefour's 182 outlets in China.The issue is continuing to smoulder on the Internet, with websites asking people to write in with "your experiences of price cheating by the Carrefour."A survey by Sohu, one of China's major web portals, had resulted late Sunday in 8,451 of 9,507 respondents saying they "would not go to Carrefour as it is blacklisted for price cheating.""Carrefour will further strengthen price label management and improve service quality to gain the support and confidence of Chinese customers," said Chen Bo.Carrefour had drawn up short and long-term measures to solve the price label issue, including price inspections, improving and upgrading the price label system, and comprehensive staff training."We will have our special control group conduct frequent and wide-ranging internal price inspections," Chen said.The National Development and Reform Commission (NDRC), China's top economic planner and price regulator, said Wednesday that some Carrefour and Wal-Mart stores in China were involved in deceptive pricing practices.The NDRC ordered local pricing authorities to urge stores to correct their wrongdoing, and pay fines five times the illegal income. It also urged authorities to step up price checks ahead of the Spring Festival.

BEIJING, May 21 (Xinhua) -- China may see increased planting acre of early rice this year, though drought has not been relieved in some areas, said a statement on the website of the Ministry of Agriculture on Saturday.China is expected to plant 88.5 million Mu (5.87 million hectares) of early rice this year, about 1.6 million Mu more than the previous year, thanks to soaring rice prices and policy incentives, the statement said.However, drought continues in Hubei Province, Poyang Lake areas in Jiangxi Province, Dongting Lake areas in Hunan Province and Leizhou Peninsular in Guangdong Province, the statement said.The drought has affected about 3 million Mu of paddies in Hubei in the middle reaches of the Yangtze River, the statement said.The statement urged local agricultural departments to help facilitate paddy management, as strong rains were forecast for southern China from Friday to next Tuesday.The middle and lower reaches of the Yangtze River received about 40 to 60 percent less rain this year than in previous years -- this year being the least amount of rain in the past 50 years, said the State Flood Control and Drought Relief Headquarters.

DAVOS, Switzerland, Jan. 28 (Xinhua) -- China and Switzerland formally launched bilateral talks on a free trade agreement Friday.Speaking at the opening ceremony, Chinese Commerce Minister Cheng Deming said the agreement talks between China and Switzerland have attracted huge attention and interest from the countries' leadership and business communities.Cheng expected a successful conclusion of the FTA negotiations. Cheng said a free trade agreement would enhance mutual trust between the two sides and promote economic development and closer ties between China and Switzerland.Swiss Federal Councilor Johann Schneider-Ammann expressed similar aspirations for the agreement as did his Chinese counterpart."The free trade agreement would further enhance trade and investment relations on a mutually beneficial basis, but also create many new opportunities for close exchange and cooperation," Schneider-Ammann said.China and Switzerland have seen fast-growing bilateral trade and investments for decade. In the past 10 years, China's exports to Switzerland have grown by 18 percent while Switzerland registered an even stronger 25 percent surge in exports to China.Currently, China is the largest trading partner of Switzerland in Asia, while Switzerland ranks ninth among China's trading partners in Europe.The Chinese commerce minister is leading a delegation at Davos to attend the World Economic Forum, which started Wednesday.

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