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BEIJING, Dec. 7 (Xinhua) -- China's auto sales and output both exceeded 12 million units in the first 11 months, the China Association of Automobile Manufacturers (CAAM) announced Monday. The CAAM forecast sales and output for the whole year would both exceed 13 million units. In November alone, sales reached more than 1.35 million units, according to preliminary statistics. Detailed figures are expected to be released on Tuesday. The country's largest auto maker, Shanghai Automotive Industry Corporation, sold about 2.44 million auto units in the first 11 months, up 54 percent year on year, while Sino-U.S. joint venture company Shanghai GM sold 627,495 units, up 50.5 percent.
FUKUOKA, Dec. 16 (Xinhua) -- Chinese Vice President Xi Jinping said Wednesday his visit to Japan had "a positive result" and "achieved what he had expected." Xi made the remarks before leaving the southern Japanese city of Fukuoka, the last stop of his Japan visit, for South Korea to continue his four-country Asia tour. During a meeting with Fukuoka Prefecture Governor Wataru Aso, Xi said he held fruitful talks with Japanese Prime Minister Yukio Hatoyama in Tokyo and exchanged views with representatives of all Japanese circles. Chinese Vice President Xi Jinping (R) meets with Fukuoka Prefecture Governor Wataru Aso in Fukuoka, Japan, on Dec. 16, 2009. Xi said Fukuoka was a well-known historical city and had kept close contact with China from ancient times. Xi said China was trying to build an energy-efficient and environment-friendly society. He expressed the wish that Fukuoka, which boasts experience in ecological and high-tech industry and has cooperation with several Chinese cities in building environmentally efficient cities, would continue to make a positive contribution to the cause of environmental protection in China. Aso said Fukuoka and China had maintained sound cooperation on trade and environmental protection. He cited Kitakyushu city as a successful model of environmental protection. The governor said he hoped China and Fukuoka would further environmental protection cooperation. Xi arrived in Fukuoka Wednesday afternoon from Tokyo. He will also visit Myanmar and Cambodia later in his tour.
BEIJING, Nov. 28 (Xinhua) -- China has vowed to maintain its macroeconomic policy stance in 2010 despite worries that its stimulus is likely to risk fueling new bubbles and overcapacity. A meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee agreed Friday that the country will continue the proactive fiscal policy and moderately easy monetary policy next year. "It is a must for the country to stick to the pro-growth policy stance," said Zhang Liqun, a researcher with the Development Research Center of the State Council, one of China's top think tanks. "A guarantee to the 8-percent growth target this year does not mean the national economy has been on an independent and stable developing track," Zhang said. Many uncertainties, both at home and abroad, still weighed on China's economy and it was quite necessary for the government to maintain its policy stance, said Feng Fei, a senior researcher at the Development Research Center of the State Council. China's economic growth has approached its pre-crisis level a year after the adoption of the 4-trillion-yuan (585.6 billion U.S. dollars) economic stimulus package. The country's economy grew 8.9 percent year on year in the third quarter this year, accelerating from 7.9 percent in the second quarter and 6.1 percent in the first quarter. In the third quarter last year, it increased 9 percent year on year. However, the country's strategy has raised concern that loose money could inflate prices of stocks and housing, build up unneeded factories and saddle the economy with bad debts. Although the current stimulus package had side effects, it was not the time for retreat, said Zhuang Jian, a senior economist with the Asian Development Bank. The government should be aware of the hidden trauma in economic growth and be ready at all time for popping-up problems by improving the policy flexibility, he said. It was important to enhance the flexibility and focus of macro regulation, considering the inflationary expectations, assets bubble risk and rapidly changing economic situation, Feng said. The Political Bureau vowed to enhance the focus and flexibility of economic policy in the following year according to new situations. It would also further implement and enrich the economic stimulus package to make the economy grow in a more stable, balanced and sustainable way. Bureau members agreed the government would maintain continuity and stability in its macroeconomic policies, according to a statement released after the meeting. The barely-changed wording in the statement of the meeting, convened ahead of the annual Central Economic Work Conference, would set the tone for next year's economic work, said Wang Tongsan, a senior researcher with the Chinese Academy of Social Sciences. He noted that the "five highlights" in the statement would be mid- and long-term strategy for economic and social development in China, which would enable the country to grab the opportunity during the crisis. The country would step up efforts to improve the quality and efficiency of economic growth, to promote the transformation of the economic development pattern and structural adjustments and to promote innovation and reform and opening up to enhance the vigor and momentum of economic growth, the statement said. It also urged more efforts to improve people's livelihood and maintain social stability, and to coordinate the domestic and international situation.
BEIJING, Dec. 26 (Xinhua) -- Top Chinese political advisor Jia Qinglin has called for adequate preparation for next year's annual session of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). A meeting of the CPPCC National Committee's chairperson and vice chairpersons decided Saturday to open the annual full session of the top political advisory body on March 3 next year. Jia, chairman of the CPPCC National Committee, said the session, together with the annual full meeting of the National People's Congress, is of great significance in deepening reform, tackling the global financial crisis, advancing social and economic development, and ensuring stability next year. Zhao Qizheng, chairman of the Foreign Affairs Committee of the CPPCC National Committee, was appointed the spokesman for the annual session in March. Jia Qinglin (C), member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), presides over the 21st Chairpersons' Meeting of the 11th CPPCC National Committee in Beijing, capital of China, on Dec. 25, 2009
WASHINGTON, Dec. 30 (Xinhua) -- The U.S. International Trade Commission (ITC) on Wednesday slapped punitive penalties to imports of some 2.6 billion dollar oil country tubular goods (OCTG) from China, a move might escalate trade disputes between the two countries. The ITC "has made affirmative determination in its final phase countervailing duty (CVD) investigation" concerning the oil pipes from China, said the ITC in a statement. The trade agency has determined that "a U.S. industry is materially injured or threatened with material injury by reason of imports of certain oil country tubular goods from China that the U.S. Department Commerce has determined are subsidized," according to the statementThe U.S. Commerce Department made a final determination last month to impose duties between 10.36 percent and 15.78 percent on the pipes, which are mostly used in the oil and gas industries. The ITC ruling paved the way for the imposition of duties. The Commerce Department made its preliminary determination of CVD in September. On Nov. 4, the Commerce also set preliminary antidumping (AD) duties on such imports from China, which is the biggest U.S. trade action against China. Under that preliminary determination, Commerce set a 36.53 percent antidumping levy on OCTG from 37 Chinese companies, while some other Chinese companies will receive a preliminary dumping rate of 99.14 percent. Commerce will make its final determination of antidumping duties early next year. If Commerce makes an affirmative final determination, and the ITC makes an affirmative final determination that imports of oil tubular goods from China materially injures, or threaten material injury to, the domestic industry, Commerce will issue an antidumping duty order. The antidumping and countervailing petition case was filed in April this year. From 2006 to 2008, imports of OCTG from China increased 203 percent by value and amounted to an estimated 2.7 billion dollars in 2008, said the U.S. Commerce Department. China strongly opposed the U.S. decision, saying that it is a protectionist move. "China expressed strong dissatisfaction and is resolutely opposed to this," said China's Ministry of Commerce (MOC) spokesman Yao Jian in a statement in September. "This does not comply with WTO agreements on subsidies. The U.S. used an incorrect method to define and calculate the subsidies, which has resulted in an artificially high subsidy rate, hurting Chinese firms' interests," said Yao. "We hope the United States can get rid of the bias and admit China's market economy status soon to tackle the double standards thoroughly and give Chinese enterprises equal and fair treatment," Yao also said last month. The U.S. industries also expressed strong dissatisfaction with the trade case, saying such a protectionist move would hurt U.S. companies. The trade restrictions would "hurt U.S. using industries by raising their costs and making sources of supply uncertain," Eugene Patrone, executive director of the Consuming Industries Trade Action Coalition (CITAC) told Xinhua in September. He noted that the tariffs would make oil and gas exploration and production be more expensive, projects be delayed, "which is against our national goal of being less dependent on imported energy." The onset of the global recession appears to have set off an increase in trade disputes around the world. Globally, new requests for protection from imports in the first half of 2009 are up 18.5 percent over the first half of 2008, according to the World Bank-sponsored Global Anti-dumping Database organized by Chad P. Bown, a Brandeis University economics professor. That increase follows a 44 percent increase in new investigations in 2008. And China has become the main target of the rising protectionism. In another steel dispute, the U.S. Commerce Department said on Tuesday that it will impose antidumping tariffs of 14 percent to 145 percent on imports of 91 million dollar steel grating from China. A final determination will be made by the department in April 2010.