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CHENGDU, Oct. 26 (Xinhua) -- China's central government has pledged to help its Macao Special Administrative Region (SAR) to cope with the impact of the ongoing international financial crisis. It was revealed by Vice Premier Li Keqiang when meeting the SAR's Chief Executive Ho Hau Wah in Chengdu, capital of southwest Sichuan Province on Sunday. Ho arrived here on Sunday, leading a delegation of the SAR to attend the Ninth Western China International Economy and Trade Fair. The Vice Premier said the central government would give all-out support to the SAR's Chief Executive and government in administration in line with laws. It would actively assist the SAR's government to maintain stability and prosperity of the region. Li also praised the SAR's government for promoting Macao's exchange and cooperation with the country's inland regions and hoped that Macao could make more contribution to economic construction and development in China's western region.
BEIJING, Oct. 15 (Xinhua) -- China's senior political advisors convened here on Wednesday to discuss the new Party decision on rural reform and advice on the issue. During the four-day third meeting of the Standing Committee of Chinese People's Political Consultative Conference (CPPCC) National Committee, political advisors were expected to carefully review the decision made at the third Plenary Session of the 17th Communist Party of China (CPC) Central Committee that closed on Sunday, said Jia Qinglin, the CPPCC National Committee chairman who presided over the meeting. The CPPCC had made great efforts to study the issues of agriculture, rural development and improving farmers' life, he said. "We hope political advisors can present their findings, put forward proposals and contribute to the rural reform and development." Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), addresses the opening session of the 3rd meeting of the standing committee of CPPCC's 11th national committee in Beijing, capital of China, on Oct. 15, 2008 Vice Premier Hui Liangyu was invited to give a presentation of the new CPC decision to the advisors at the meeting. In the decision, the CPC summed up the experiences of the past three decades of rural reform, analyzed chances and challenges the country faced and worked out a guideline for the future, Hui said. Photo taken on Oct. 15, 2008 shows the opening session of the 3rd meeting of the standing committee of the Chinese People's Political Consultative Conference(CPPCC) 11th national committee in Beijing, capital of China, on Oct. 15, 2008.
BEIJING, Nov. 19 (Xinhua) -- Tax rebates for China's light industry should be increased to alleviate cost burdens on exporters, the cabinet said here on Wednesday. China also plans to remove unreasonable administrative fees and charges on industry players, and offer more, said a statement released after the executive meeting of the State Council presided over by Premier Wen Jiabao. Through the foreign trade development fund, set up by the central government, active assistance will be made to boost exports and help companies' promotion and acquisition efforts in the international market, members said at the meeting. The tax rebate rate has been raised three times this year in China. The most recent increase came Monday. It covered a list of 3,770 items which account for 27.9 percent of the country's total exports. Items include labor-intensive, mechanical and electrical products. The rebate takes effect Dec. 1. The previous two rebates were made in August and at the beginning of this month. Official data showed that China's October export growth slowed to 19.2 percent from 21.5 percent in September. "Light industry is China's strong point and its stable and healthy development would be of prime importance," members said while explaining the reason behind the move. The industry is suffering severely from changes in the domestic and international economic environment in recent months. Concrete measures should be taken to support the industry to weather the difficulties. China levies value-added tax on most products, but refunds varying amounts of that tax on goods that are exported. The government usually adjusts the size of export tax rebates for different types of goods when it is trying to encourage or discourage growth in particular industries. Several other policies were passed at the meeting to support the development of the light industry. Financial subsidies were offered to rural residents and people in quake-hit regions and remote areas in China in an effort to boost domestic demand on their products. More funding would be allocated to support the development of small and medium-sized enterprises, as well as to encourage technical innovations and upgrades in these companies. The draft of arbitration law on land contract related disputes, which, after revision, would be submitted to the standing committee of the National People's Congress for approval, was also discussed at the meeting. Two revised drafts of ordinances on grassland and forestry fire prevention will be implemented after some changes
BEIJING, Oct. 21 (Xinhua) -- Chinese President Hu Jintao said the country's trade unions should play an active role in promoting coordinated labor relations on Tuesday. Addressing a symposium attended by the newly-elected leaders of the All-China Federation of Trade Unions (ACFTU) and representatives of the 15th national congress of the ACFTU, Hu said trade unions should listen to the employees and voice their opinions. He called on trade unions to earnestly safeguard the legitimate rights and interests of employees and coordinate labor relations to promote social stability. He added that trade unions need reform and should explore new solutions to deal with problems. Chinese President Hu Jintao (2nd R) and Vice President Xi Jinping (1st R) talk with representatives of the 15th national congress of the All China Federation of Trade Unions (ACFTU) in Beijing, capital of China, on Oct. 21, 2008 Hu said the country should give more resources to trade unions to facilitate innovation, in which the working class should be the driving force. ACFTU's president Wang Zhaoguo also attended the meeting. He was elected president during the first session of the 15th ACFTU Executive Committee on Monday. It will be his third tenure. China has the largest number of trade union members in the world, with membership increasing from 123 million in 2003 to 209 million this year. "China's trade unions should unswervingly stick to building trade unions with Chinese characteristics," Vice President Xi Jinping said at the opening ceremony. The congress is held every four years. The previous session convened in Beijing in September 2003, with more than 1,600 deputies present.
BEIJING, Jan. 19 -- Air China Ltd, the nation's largest international carrier, expects to report its first annual loss in at least eight years on waning travel demand and wrong-way bets on fuel prices. The carrier made paper losses of 6.8 billion yuan (994.5 million U.S. dollars) on fuel-hedging in 2008, it said on Friday in a Hong Kong stock exchange statement. The airline made a 3.88-billion-yuan annual profit in 2007. Air China joins China Southern Airlines Co and China Eastern Airlines Corp in forecasting a 2008 loss after the nation's cooling economy damped business and leisure travel. The Beijing-based carrier also reported hedging losses after jet-fuel prices tumbled 70 percent in less than six months. "Air China is more exposed to the global crisis" than China Southern and China Eastern, said Li Jun, an Everbright Securities Co analyst in Shanghai. "As such, most of its advantages turned into disadvantages last year." The carrier has been profitable since at least 2000, data complied by Bloomberg News showed, helped by having a wider overseas network than domestic rivals. "The aviation market experienced a general shrinking demand in 2008 and traffic revenue was significantly lower than expected," the Beijing-based company said in the statement. The hedging contracts "will have a considerable effect on the financial results for the year." The airline is also able to hedge a greater proportion of its fuel needs than rivals, as Chinese carriers are barred from hedging purchases of fuels for domestic flights. That has previously enabled Air China to limit the effect of increasing fuel prices. The airline's passenger numbers fell 1.7 percent in 2008 to 34.2 million, the first decline in five years. Its cargo and mail volume dropped 3.8 percent to 898,962 tons. The shares have dived 80 percent in the past year and closed 3.9 percent higher at 1.88 Hong Kong dollars (24 U.S. cents) a share on Friday in Hong Kong trading.