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BEIJING, Sept. 28 (Xinhua) -- China's Ministry of Commerce (MOC) issued a statement late Monday saying it would approve U.S. automaker General Motors Co.'s (GM) plan to buy part of parts supplier Delphi Corp, but set conditions on the deal to avoid restricting competition. The approval came after an anti-monopoly probe by the MOC into the deal last week and negotiations with the two companies over the deal conditions, aimed to avoid exclusion or restriction of competition, according to the statement. The conditions include a ban on GM and Delphi exchanging trade secrets on Delphi's other Chinese customers, to prevent GM from getting confidential and competitive information. Delphi should also maintain the timeliness and quality of supplies indiscriminately to the other domestic automakers, at market prices. The ministry said it had discussed with the two companies its concerns on competition, and GM and Delphi had come up with solutions. According to a Dow Jones report Monday night, authorities in the U.S. and E.U. had earlier given their approval for the deal, after Delphi, GM's former parts division, received approval from a U.S. court to sell assets to its lender and GM. The report said this would clear the way for the auto-parts supplier, which operates 17 wholly-owned entities and joint ventures in China and 21 manufacturing sites, to end its four-year stay in bankruptcy. Under China's anti-monopoly law, mergers and acquisitions that could impact the domestic market must undergo an anti-monopoly review.
HOHHOT, Aug. 25 (Xinhua) -- The key to social harmony and stability in China is to strengthen and improve the leadership of the Communist Party of China (CPC), Xi Jinping, Vice President and member of the Standing Committee of the CPC Central Committee Political Bureau, said during a tour of Inner Mongolia Autonomous Region. Xi said issues concerning economic development and social stability were top priority in the country's minority areas during his tour from Aug. 22 to 25. He visited villages, customs posts, companies, communities and schools in Hulun Buir, Manzhouli, Baotou, Erdos, and Hohhot. Chinese Vice President Xi Jinping (2nd L) visits at the Carbon-to-Liquid plant of the Shenhua Group Corporation Limited in Ordos, north China's Inner Mongolia Autonomous Region, on Aug. 22, 2009Xi met with industry leaders, including leaders at coal and power giants Huaneng Group and Shenhua Group, and major dairy producer Meng Niu Group. He also inspected the well-known land port of Manzhouli, which links China with neighboring Mongolia. Xi also talked with ethnic Mongolian herdsmen to learn about their work and lives. In Hohhot, the regional capital, he urged officials to work hard to resolve problems regarding people's lives. "Let people of different ethnic groups share the achievements of reforms and development," he said. At the end of his study tour, Xi held a workshop that was attended by leading regional officials.
NANJING, Aug. 9 (Xinhua) -- Chinese Premier Wen Jiabao reaffirmed during the weekend that China would unwaveringly adhere to its moderately easy monetary policy in face of economic difficulties and challengesWen said China would maintain both its proactive fiscal and moderate monetary policies, and work on economic restructuring to strengthen recovery from the global downturn. During a three-day inspection tour that ended Sunday in the eastern Jiangsu Province, one of China's economic powerhouses, Wen said China should focus on maintaining stable and rapid economic development and accelerating economic restructuring. China's economy still faced hardships and challenges because of the gloomy international economic outlook, he said. With weakened external demand, Chinese enterprises faced significant overcapacity, while domestic demand was still restricted by various factors. The impact of governmental stimulation of the economy would gradually lessen and long-term policies needed time to pay off, Wen said. Therefore, China's macroeconomic policy would not change. The premier's remarks echoed a similar announcement made by a senior economic planning official Friday that overseas market conditions were still severe and the country's economic policy direction would remain unchanged. Although the country's economy was showing signs of recovery, it still faced many difficulties in maintaining stability, said Zhu Zhixin, vice minister in charge of the National Development and Reform Commission. On his third visit to Jiangsu since the global financial crisis hit, Wen also praised "better-than-expected" results in eliminating pollution from the country's third largest fresh water lake Taihu over the past two years, since a blue algae outbreak in 2007. Wen was told that more than 3,000 small chemical plants surrounding the lake had been closed and about 1,000 new facilities had been installed to treat sewage from nearby villages into the lake.
XIAMEN, Sept. 9 (Xinhua) -- China remains the most attractive country for foreign capital, despite that the country's foreign direct investment declined for ten straight months, a commerce official said Wednesday. "China has been the top destination for foreign capital for 17 consecutive years," Wang Chao, assistant commerce minister, said at the World Capital Forum in Xiamen, east China's Fujian Province. A report released by the United Nations Conference on Trade and Development (UNCTAD) on July 22 showed that China stands first on the list of five most attractive destinations for foreign capital, followed by the United States, India, Brazil, and Russia. The country has received 48.3 billion U.S. dollars of foreign direct investment (FDI) from January to July this year, down 20.3 percent over the same time last year amid a global economic downturn, Wang said. Wang said the country's prospects for overseas investment remains optimistic as it would simplify examination and approval procedures toward foreign investors. It will also guide foreign investment to go to high technology industry, advanced manufacturing industry, energy saving and environment protection industries, in a bid to optimize investment structures.
BEIJING, Aug. 30 (Xinhua) -- China is ready to advance cooperation with Turkey in combating terrorism to better fulfill the common task of safeguarding national unification and territorial integrity and opposing separatism, Foreign Minister Yang Jiechi said here Sunday. Yang made the remarks when meeting in Beijing with Turkish State Minister Zafer Caglayan, who paid the visit to China as special envoy of Turkish Prime Minister Recep Tayyip Erdogan. The visit "indicated Turkey's political will to further its relationship with China," Yang said during the one-hour meeting, adding China attached great importance to promoting the ties with Turkey. China was ready to strengthen the bilateral relations on the basis of universally recognized norms of international relations, he said. Chinese Foreign Minister Yang Jiechi (R) meets with visiting Turkish State Minister Zafer Caglayan who paid the visit to China as special envoy of Turkish Prime Minister Recep Tayyip Erdogan, in Beijing, capital of China, Aug. 30, 2009 Yang said China always held that safeguarding the overall development of the bilateral relations could serve the fundamental interests of the two peoples. Both China and Turkey were faced with common tasks of protecting national unification and territorial integrity. The two countries enjoyed long-standing coordination in security fields including anti-terrorism, Yang said. China would work with Turkey to boost the cooperation in this regard, so as to better carry out the common task of safeguarding national unification and territorial integrity and opposing separatism, he said. Yang also said that the July 5 riot in Urumqi was neither an ethnic problem nor a religious issue, but an incident plotted and organized by the "East Turkestan" separatist forces both inside and outside China. It had a profound political background. The riot, taking place on July 5 in capital of the northwest China's Xinjiang Uygur Autonomous Region, left 197 people dead and more than 1,600 others injured. Yang said the "East Turkestan" separatist forces' nature and harm was disclosed in the riot as it seriously jeopardized the lives, property of the Chinese people of various ethnic groups, and the local stability. The measures taken by the Chinese government to deal with the incident according to law won wholehearted support of the local people of all ethnic groups, Yang said. Caglayan reiterated Turkey's adherence to the one-China policy and its respect for China's sovereignty and territorial integrity. The two peoples had a long history of friendship, and the two countries enjoyed "sound cooperation" in areas such as fighting terrorism, Caglayan said, adding Turkey would like to keep close contact with China in this area. "Turkey will endeavor to develop a strong relationship with China, through deepening bilateral cooperation," he said. Caglayan, who arrived in Beijing Saturday, also said the success of Turkish President Abdullah Gul's visit to China in June had exerted profound influence on the bilateral relations. During his four-day stay in China, Caglayan was also scheduled to meet Chinese Premier Wen Jiabao and visit Xinjiang, according to Chinese Foreign Ministry.