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SHANGHAI, May 11 (Xinhua) -- Chinese officials and experts Tuesday suggested the nation's steel producers set up plants abroad to avoid a rising number of international trade barriers.Opening steel mills in regions with abundant raw materials and strong market demand abroad would be easier than exporting steel products, as it would bring tax revenues and employment to the areas, Jia Yinsong, an official with the Ministry of Industry and Information Technology, said at an international trade fair for the steel tube industry in Shanghai.China's steel pipe exporters had been frequent victims of protectionism, said Wang Zhenfu, vice director with the Fair Trade Bureau of Import and Export of the Ministry of Commerce (MOC).Data from the WTO showed China's steel producers were named in 29 trade disputes since 2007, involving products valued at 6 billion U.S. dollars.The most serious, in which the United States imposed in April anti-dumping duties ranging from 30 to 99 percent on Chinese steel pipes imports used in oil and gas wells, had curbed steel tube exports to the U.S. by more than 80 percent, said Wang.According to the U.S. Department of Commerce, 37 Chinese firms received a final dumping rate of 29.94 percent, and all other Chinese exporters were subject to a final dumping rate of 99.14 percent.Wang warned of a risk of losing the U.S. market as the U.S. government was mulling further anti-dumping investigations against Chinese steel pipe exports.Jia said Chinese enterprises should be aware of the significance of transforming from production exports to capacity exports.At present, domestic steel enterprises were mainly focused on acquiring mineral resources abroad, but that would become more difficult given global commodity price hikes fueled by a booming market, said Jia.The costs of energy, raw materials, shipping and rising trade protectionism and pressure for China to appreciate its currency would pose challenges for Chinese exporters, according to a survey conducted by the Ministry of Commerce last month.Jia said a few of Chinese steel firms, such as Wuhan Iron and Steel Group, had invested in capacity exports. Wuhan Iron and Steel, China's third-biggest steelmaker, announced on April 19 it would team up with Brazil's LLX Logistica S.A. to build a steel plant with an annual capacity of 5 million tonnes in Brazil's Acu Super Port Industrial District.Besides focusing on the U.S. market, Chinese steel firms should step up efforts to tap into emerging markets such as South America and the Middle East, said Wang.Chi Jingdong, vice secretary general of China Iron and Steel Association, encouraged domestic steelmakers to learn from Japanese counterparts, who followed automobile manufacturers abroad, providing with matching steel products from their overseas mills.

BEIJING, May 7 (Xinhua) -- China's policy of actively attracting foreign investment will not change, said vice minister of commerce Ma Xiuhong Friday.The Ministry of Commerce will keep working to maintain a good investment environment for foreign companies, said Ma during a discussion with multinational firms."The ministry will strengthen its communication with multinational corporations and foreign enterprises," she said.China could provide new opportunities for foreign investors as the country is in a process of modernization, urbanization and transformation of its economic development pattern, said Ma.She hoped that while achieving their own development goals, foreign enterprises could play a larger role in China's pursuit of scientific innovation, industrial upgrading, and more balanced regional economic development.Representatives from 64 multinational corporations and four foreign chambers of commerce participated in the discussion. They were joined by officials from a number of Chinese government departments, including the Ministry of Finance and Ministry of Industry and Information.Foreign direct investment to China increased 7.7 percent year on year to 23.44 billion U.S. dollars in the first quarter.

CHICAGO, April 21 (Xinhua) -- The Chicago-based Boeing Company reported on Wednesday that its first-quarter net earnings were 519 million U.S. dollars, down 15 percent from 610 million dollars in the same quarter last year, citing the health care legislation charge.The aerospace and defense giant said in its first quarterly financial report that total revenues for the first three months were 15.22 billion dollars, down from 16.50 billion dollars in the prior year quarter while the earnings per share was down to 70 cents from 86 cents one year ago.Boeing indicated that the results for the quarter reflect solid performance across core businesses and a previously disclosed 20 cents charge per share on health care legislation, while the year- ago quarter results were reduced by 31 cents per share on a charge due to poor market conditions in commercial airplanes."With clear progress on the 787 and 747-8, solid financial performance and marked improvement in our customer outlook, we continue to draw on the positive momentum we saw at the end of 2009," said Jim McNerney, Boeing chairman, president and chief executive officer.Boeing's earnings guidance for 2010 is pegged at 3.50 dollars to 3.80 dollars per share, reduced from 3.70 to 4.00 per share due to the charge on health care legislation. At the same time, the company continues to expect that 2011 revenue will be higher than 2010, primarily driven by projected 787 and 747-8 deliveries."Our outlook remains attractive, and we are focused on executing well and delivering on our commitments to customers," said McNerney.The report also indicated that the 787 program continued flight testing during the quarter, as an additional two airplanes joined the two airplanes already in the flight test program.The Dreamliner completed key flight test milestones such as flutter, stall and ground-effect tests. On March 28, the static test unit successfully completed the ultimate load test with a fully pressurized cabin.The 787's first delivery is expected in the fourth quarter of 2010. Total firm orders for the 787 at quarter-end were 866 airplanes from 57 customers.

SEOUL, May 26 (Xinhua) -- Chinese Premier Wen Jiabao's visit here, starting Friday, will strongly boost the friendly cooperative relationship between China and South Korea, Chinese ambassador Zhang Xinsen told Xinhua in a recent interview.Zhang said Wen's second official trip to South Korea after previously visiting in April 2007 would allow him to exchange views with South Korean leaders on further deepening the strategic cooperative partnership between the two countries. He would also have extensive contacts with various sectors here, which would surely boost the bilateral ties and bear richer fruit in the future.The ambassador said, as good neighbors, China and South Korea had made joint efforts to achieve rapid and all-round development of the bilateral ties since the two countries established diplomatic relations in 1992. In 2008, Chinese President Hu Jintao and his South Korean counterpart Lee Myung-bak successfully exchanged visits and upgraded relations between the two sides to a strategic cooperative partnership. Since then, the exchanges and cooperation between the two countries' various fields have been further deepened.Multi-level communication channels, covering government agencies, parliaments, academic sectors and media, had been established, and high-level exchanges between the two sides also remained frequent, the ambassador said.The two sides also maintained good communication and coordination on issues such as trilateral cooperation among China, Japan and South Korea, integration of East Asia and global climate change under various bilateral and multilateral frameworks, and reached consensus on further strengthening the strategic cooperative partnership, maintaining peace and stability in the region and expanding cooperation in international affairs, he said.In the economic and trade field, two-way cooperation had been broadened and enhanced, Zhang said, noting that China was the largest trade partner, export destination country and import market for South Korea, while the latter was the third biggest trade partner for China. The two countries also worked closely when the world was hit by the global financial crisis, Zhang said, citing the bilateral currency swap accord involving some 28 billion U.S. dollars, in an effort to safeguard regional and global financial stability.Meanwhile, the active people-related exchanges also contributed to deepening mutual understanding and friendship between the two peoples, the ambassador said. This year, during which China is hosting World Expo 2010 in Shanghai, and 2012, in which a similar event will be hosted in South Korea's southern city of Yeosu, were designated as Visit China Year and Visit Korea Year, respectively. More than one million South Koreans are expected to travel to China to visit the Shanghai Expo, and the South Korean Pavilion has become one of the most popular pavilions, Zhang said.China and South Korea, both important countries in Asia and in a crucial stage of development, had a broad prospect of cooperation, the ambassador said.Since uncertainties remained in the global economy, both China and South Korea were adopting effective measures to oppose trade and investment protectionism, accelerate the process of establishing a free trade area between the two countries, and enhance cooperation in finance, green growth and other major fields, he said.Morever, the two counties should continue to play positive roles in trilateral cooperation among China, Japan and South Korea, and multilateral collaboration under the framework of the Association of Southeast Asian Nations (ASEAN) plus three, and should also actively take part in building new structure and new order of the regional and global economy and finance.Zhang said he believed that, thanks to joint efforts by the two countries in further deepening mutual trust, enhancing friendship and strengthening cooperation, the strategic cooperative partnership between the two sides would surely achieve greater development.