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BEIJING, June 19 (Xinhua) -- China's top economic planner announced Thursday night the country will raise the prices of gasoline, diesel oil, aviation kerosene and electricity, revealing an unprecedented broad plan to raise energy prices. Beginning Friday, the benchmark gasoline and diesel oil retail prices will be marked up by 1,000 yuan (144.9 U.S. dollars) per tonne, with the price of aviation kerosene up by 1,500 yuan per tonne. The prices of natural gas and liquefied petroleum gas, however, would be left unchanged, according to the National Development and Reform Commission (NDRC). The benchmark retail prices of gasoline and diesel oil would be lifted to 6,980 yuan and 6,520 yuan per tonne, up more than 16 percent and 18 percent respectively. The price rises also translate into mark-ups of 0.8 yuan and 0.92 yuan per liter, the measurement used at service stations in China, for gasoline and diesel oil respectively. The commission said the oil price adjustment was made to ensure supplies in the country by diminishing the gap between continuously rising international crude prices, especially since February, and state-set domestic oil prices. Crude oil price on the international market reached above 136 U.S. dollars per barrel on Wednesday, up more than 45 percent from the price when the country raised oil prices in November last year. An employee changes the cards showing the prices of refined oil at a gas station in Beijing on the early morning of June 20, 2008The government-controlled oil prices on domestic market should be blamed for a shortfall of supplies, as some refineries stopped or cut back on processing to avoid losses, said an unidentified NDRC official. The commission said more subsidies would be offered to farmers, public transport, low-income families and taxi drivers to cushion the crunch of price rises. For instance, farmers would get five yuan per mu (1/15 hectare)of farmland in extra subsidy; low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for such rural families. The commission said fares for passenger travel by rail, urban and rural public transport and taxis would remain unchanged after the rise. The official did not comment on the impact of oil price rises on the inflation rate, which eased to 7.7 percent in May. In April, it rose 8.5 percent after a 12-year high of 8.7 percent in February. The commission also said the average electricity tariff will be raised by 2.5 cents per kwh starting from July 1, up 4.7 percent on average. It said the price rise was made in response to rising costs of the country's power plants, including rising power-coal prices, increased costs on desulphuration facilities and investment in grid upgrading. More than 80 percent of all the power generation companies suffered losses in the January-May period due to power-coal price rises. Official statistics showed that power coal prices went up by more than 80 yuan per tonne in the past two years. The prices had gone up by 60 yuan since the beginning of the year. The commission also announced the country would exercise temporary price intervention on power coal as of Dec. 31, and power coal prices are capped below the price on June 19. The policy was adopted as the commission expected the power-coal price to rise further because of the gap between domestic and international prices and tight supplies. The commission also said urban and rural residents and sectors of farming and fertilizer production, as well as the quake-hit provinces of Sichuan, Shaanxi and Gansu, will be exempt from the price rise. Industrial and commercial undertakings, however, would only see limited impact, as power expenses usually account for a small portion of their total costs, it said. "The price rise in electricity would not have a fundamental impact on the country's inflation rate," said the NDRC official.
ISLAMABAD, April 26 (Xinhua) -- Pakistani President Pervez Musharraf and Prime Minister Yousuf Raza Gillani met respectively with visiting Chinese Foreign Minister Yang Jiechi on Saturday and reiterated their resolve to improve bilateral ties to a new level. They said Pakistan will always stand with China on the Taiwan and Tibet issues and Beijing Olympics will be a great success. Pakistani President Pervez Musharraf (L) meets visiting Chinese Foreign Minister Yang Jiechi in Rawalpindi, Pakistan, April 26, 2008.Musharraf, at a meeting with Yang in the city of Rawalpindi close to Islamabad, appreciated China's consistent assistance and help, saying Pakistan would continue to carry out cooperation with China in such fields as trade, energy, communication, education and culture. The smooth holding of the Beijing Olympic torch relay in Islamabad showcased the deep-rooted friendship between the two neighboring countries, said Musharraf Gillani, while meeting with Yang, said Pakistan and China enjoy "all-weather and time-tested" relations and the new Pakistani government will strive to push bilateral relations forward on the basis of mutually-beneficiary cooperation. Gillani welcomed Chinese firms to invest in Pakistan, saying to develop relationship with China will be the priority of the Pakistani government. Pakistani Prime Minister Yousaf Raza Gilani (R) meets visiting Chinese Foreign Minister Yang Jiechi (L) in Islamabad, capital of Pakistan, April 26, 2008. Yang described China-Pakistan relations as good neighbors, friends, partners and brothers, saying the two countries have seen sound cooperation on politics, trade, mega projects, military, security, culture as well as regional and international issues. China thanks Pakistan for its firm support on the Taiwan and Tibet issues, and will support Pakistan's efforts to safeguard national stability and development, Yang said. Yang said the Chinese government attaches great importance to relations with Pakistan and will deepen bilateral strategic cooperation and lift China-Pakistan strategic partnership to a new height. Yang also expressed appreciation for Pakistan's successful holding of the Beijing Olympic torch relay, which he said is a testimony to sincere friendship between the two countries. Yang arrived in Islamabad o Friday afternoon for a two-day visit to Pakistan, the first visit by the Chinese foreign minister since the new Pakistani government took office last month. Yang is also the first senior Chinese official visiting Pakistan after Musharraf paid a state visit to China from April 10 to 15. Pakistani President Pervez Musharraf (L) meets visiting Chinese Foreign Minister Yang Jiechi (R) in Rawalpindi, Pakistan, April 26, 2008.Yang held talks with his Pakistani counterpart Shah Mahmood Qureshi after his arrival, and they discussed possibilities to expand cooperation between the two countries. At a news briefing following the talks, Yang announced that China will provide Pakistan 70 million RMB (around one million U.S. dollars as technical and economic assistance and 500,000 RMB (around 71,429 U.S. dollars) for equipment for Pakistan foreign ministry. During the 24-hour visit, Yang also met with Pakistan's National Assembly Speaker Fehmida Mirza, Senate Chairman Muhammad Miam Soomro, Nawaz Sharif, leader of Pakistan Muslim League-Nawaz (PML-N), and Pakistan Muslim League-Quaid (PML-Q) chief Chaudhry Shujaat Hussain.
HARBIN, July 24 (Xinhua) -- A senior Chinese official has called for carrying on ideological emancipation, persisting in the reform and opening-up policy, pushing forward scientific development and making new breakthroughs in promoting social harmony, to promote rapid and sound economic and social development. Li Changchun, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during an inspection tour in Heilongjiang Province from July 20-23, in the company of the provincial CPC chief Ji Bingxuan and governor Li Zhanshu. Li Changchun (L1), a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, talks to staff at Donghu community during an inspection tour in Heilongjiang Province July 22, 2008He urged the northeastern province to seize the opportunity for industrial revival. Li visited villages, communities, factories and cultural organizations in the cities of Mohe, Heihe, Daqing and Harbin. In Mohe, the country's northeasternmost town, the official paid a visit to the Beiji (Polar) Village, where he learned that local villagers now have cable TV. He also visited Daqing, China's largest oil production base and Harbin, the provincial capital. Local governments should build more public cultural facilities, he said. He urged the province to deepen its cultural restructuring, support multi-talented professionals and develop cultural products with brand names that were recognized at home and abroad. In Daqing, Li also visited the memorial to Iron Man Wang Jinxi, an oil worker who devoted his life to the development of the petroleum industry. Daqing, a city built on the vast oil field, is known for the "Daqing Red Flag", a model set for all industries in the country by late leader Mao Zedong.
NEW YORK, Sept. 23 (Xinhua) -- Chinese Premier Wen Jiabao said Tuesday that China and the United States are not rivals but partners in cooperation and they should work together to further strengthen bilateral relations. In a speech delivered at a luncheon co-hosted by the National Committee on U.S.-China Relations and other friendly American organizations, Wen said China-U.S. relations have made significant progress since his first official visit to the United States in 2003. High-level contacts between the two sides are more frequent than ever before, said Wen, who arrived here Tuesday to attend meetings at the headquarters of the United Nations. "There are now over 60 dialogue and consultative mechanisms between our two countries. The Strategic Economic Dialogue and the Strategic Dialogue have in particular played an important part in increasing strategic mutual trust between the two sides." On economic cooperation, Wen noted that China and the United States are now each other's second largest trading partners. Dialogue and cooperation have also extended to a number of new areas, such as energy resources and climate change, he added. In addition, China and the United States have maintained communication and coordination on global security issues such as counter-terrorism and non-proliferation and on regional and international hot-spot issues, the Chinese premier said. The ever-deepening friendship between the two peoples is an integral part of growing relations between the two countries, Wen said. He also expressed sincere appreciation to the American people from all walks of life for their abiding commitment to China-U.S. friendship and extended heartfelt gratitude to the U.S. government and people for their strong support for China's earthquake relief and efforts in hosting the 2008 Beijing Olympic Games. As to the China-U.S. relations after the upcoming U.S. presidential election, Wen said China hopes to maintain and develop the constructive and cooperative relations with the United States whoever becomes the next U.S. president. Chinese Premier Wen Jiabao (R) shakes hands with former U.S. secretary of state Henry Kissinger in New York, the United States, Sept. 23, 2008. "We are confident that China-U.S. relations will continue to move forward, as the trend of history will not turn back," he added. China and the United Stated have never enjoyed so extensive common interests as they do today and have worked together to uphold world peace and stability and tackle growing economic and financial challenges, Wen said. However, "due to differences in social system development level, history and culture, China and the United States may not see eye to eye on certain issues," he said, adding that as long as the two sides engage in dialogue and consultation on the basis of equality and mutual respect, they will be able to gradually dispel misgivings and enhance mutual trust. He said that both the Chinese people and the American people are open, innovative, and eager to learn. "Two countries that appreciate each other and learn from each other can live together in amity and achieve common progress." "China's development will not harm anyone, nor will it be a threat to anyone. China has taken an active part in the building of the international system and will not do anything to undermine it. China is a big responsible country," Wen reiterated. Touching upon the Taiwan question, Wen said, "The question of Taiwan has always been the most sensitive question at the core of China-U.S. relations. History has shown that the smooth development of China-U.S. relations depends, to a great extent, on the proper handling of the Taiwan question. "We hope the U.S. side will stick to its commitment, adhere to the one China principle and the three China-U.S. joint communiques, and oppose Taiwan independence," he emphasized. "We hope the United States will support improvement of relations and the realization of common development between the two sides of the Taiwan Strait. This serves the interests of people on both sides of the Taiwan Strait and is conducive to China-U.S. relations and peace in the world." Wen also took questions after delivering the speech. When asked about China's food safety, he said that the Chinese government has paid great attention to the country's recent infant formula milk power contamination incident and adopted a series of resolute measures to deal with it. China will take vigorous measures to ensure the quality of products and food safety, Wen said, adding that China's exports will meet both international standards and requirements of importers and China is willing to enhance cooperation with the U.S. in this regard. U.S. Secretary of Labor Elaine L. Chao, former Secretary of State Henry Kissinger, and Chair of the Board of Directors of the National Committee on U.S.-China Relations Carla A. Hills also made speeches during the luncheon. They shared the view that enhancing China-U.S. cooperation is vital to the maintaining of world peace and stability and the resolution of many issues facing the world, and the U.S. should continue to maintain engagements and cooperation with China. During his three-day stay in New York, Wen will attend a high-level UN meeting for the Millennium Development Goals (MDGs) Thursday and the general debate of the 63rd UN General Assembly Wednesday. He will address the two meetings to further outline China's development objectives.
BEIJING, May 11 -- China's monetary authorities are struggling to address conflicting policy goals, but inflation will remain the top policy concern, the country's central bank governor said on Saturday. While the United States and other countries are more focused on fending off a recession, China's monetary policy must target inflation over growth and employment, Zhou Xiaochuan, the People's Bank of China governor, told a forum in Lujiazui, Shanghai's financial center. "There is no cure-all medicine, and we have to make the final decisions -- everyone hopes there would be a cure-all solution, but there is not," said Zhou. China's consumer price inflation would likely to rise to 8.5 percent in April from 8.3 percent in March, two sources familiar with the data said late on Thursday. The data, which is subject to last-minute revisions, will be officially released on Monday. Zhou Xiaochuan, governor of the People's Bank of China, addresses the Lujiazui Forum 2008 in Shanghai, east China, May 10, 2008. Heads of the People's Bank of China, the country's central bank, the Securities Regulatory Commission, the Banking Regulatory Commission and the Insurance Regulatory Commission all attended the two-day financial forum, opened on May 9. Lujiazui is the name of Shanghai's financial district. Meanwhile, the government said on Friday that China's producer price index, or factory-gate inflation, hit a three-year high of 8.1 percent in April, showing a sustained build-up in pressures on consumer price inflation. Zhou listed development of financial institutions and the imbalance in global money transfers as other issues that China's monetary policy may have to target. He said China needs to reduce the savings ratio as the fundamental way to address its over-reliance on trade, which now accounts for more than 60 percent of its annual GDP, but he did not elaborate on possible specific measures. On other issues, Zhou said Beijing has yet to reach a consensus over how to develop a properly functioning domestic bond market. Disputes remain about market infrastructure, the regulatory framework as well as laws and regulations, Zhou said.