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BEIJING, Feb. 4 (Xinhua) -- The Office of State Flood Control and Drought Relief Headquarters launched an orange alert on Wednesday, urging local authority to be fully aware of the grim situation and give drought-relief work top priority. The unprecedented drought which started last November, has affected 146 million mu (9.73 million hectares) of crops nationwide by February 4, among which 42.19 million mu are severely affected, according to the latest figure released by the headquarter office. About 139 million of wheat land in the eight wheat-producing provinces were threatened, comprising 46 percent of the total wheat croplands in the areas. People irrigate the wheat field at Xindian Village in Luoyang, a city in central China's Henan Province, Jan. 4, 2009. Drought has hit most of Henan Province, one of China's key wheat producing regions, due to lack of rainfall since last October.Some 3.98 million people and 1.95 million livestock are short of drinking water. The headquarter office asked local governments to be accountable for relief work and make every effort to expand irrigation areas. The local authority should enact integrated plans on water distribution to minimize the risk of the drought, according to an emergency notice by the headquarter office. Four more working teams were sent to the drought-hit areas on Monday to supervise the relief work. The Ministry of Finance is expected to arrange more funds, after the previous 100 million yuan (14.6 million U.S. dollars) to support the relief effort.
BEIJING, Feb. 11 (Xinhua) -- China's State Council, or Cabinet, adopted a stimulus plan Wednesday for the shipbuilding industry at an executive meeting chaired by Premier Wen Jiabao. The meeting said shipbuilding is a modern, comprehensive industry that provides technical equipment for transportation, maritime development and national defense. Supporting shipbuilders would also help other sectors, including steel, chemicals, textiles, light industry, equipment manufacturing and information technology, it said. New orders for domestic shipbuilders are expected to fall to 20-30 million deadweight tons in 2009, compared to 58.18 million deadweight tons in 2008, according to the China Association of National Shipbuilding Industry The meeting agreed to increase credit support by an unspecified amount for ship buyers. It also decided to extend the existing financial support policies for oceangoing vessels until 2012. These policies include tax rebates on key imported components for domestically owned oceangoing ships. It said construction of new docks and the expansion of slipways should be suspended for three years to facilitate industrial restructuring. It also recommended investment in research and development of facilities to build high-technology ships and maritime engineering equipment and promote technical innovation. The meeting also approved a draft plan for fighting drought.

BEIJING, March 2 (Xinhua) -- Chinese State Councilor Ma Kai asked for more active policy to boost employment, guarantee economic growth, people's livelihood and social stability here on Monday. Ma made the comments when addressing the opening ceremony of China National School of Administration. He suggested that policies to boost economic growth and enhance economic structure should be combined more closely with the effort to create job opportunities. Measures should be taken to relieve companies' burdens and maintain existing positions for employees, Ma said. He also encouraged job seekers to start their own businesses, and adjust their job expectations. Ma highlighted the importance of creating jobs for university graduates, migrant workers, veterans and families with no income.
BEIJING, April 13 (Xinhua) -- China's Ministry of Finance (MOF) said Monday that fiscal revenue fell 0.3 percent from a year earlier to 440.22 billion yuan (64.43 billion U.S. dollars) in March. First-quarter fiscal revenue fell 8.3 percent to 1.46 trillion yuan, the ministry said on its website, while tax revenue shrank 10.3 percent to 1.3 trillion yuan. Fiscal revenue includes taxes as well as administrative fees and other government income, such as fines and income from government-owned assets. Business profits shrank as economic growth slowed, the MOF said, and tax cuts intended to spur the economy and the financial markets reduced government revenues. First-quarter business income tax revenue fell 16.7 percent. China halved the purchase tax on cars with engine displacements of less than 1.6 liters on Jan. 20, and revenue from that tax was down 7.6 percent in the first quarter. To shore up the stock market, the government cut the share trading stamp tax from 0.3 percent to 0.1 percent last April and scrapped the stamp tax on stock purchases in September. And even though the benchmark Shanghai Composite Index is up more than 35 percent so far this year, the tax cuts on share transactions meant a decline of 86.2 percent in revenue from that category in the first quarter. Actual revenue amounts in each category were not released. Customs tariff revenue fell 23.9 percent during the first quarter, the MOF said, without giving further details. Central government fiscal revenue fell 17.7 percent in the first quarter to 721.3 billion yuan, while local government fiscal revenue rose 3 percent to 742.9 billion yuan. First-quarter fiscal expenditures surged 34.8 percent to 1.28 trillion yuan, as both the central and local governments adopted a proactive fiscal stance to boost the economy and domestic demand. China unveiled a 4-trillion-yuan stimulus package in November to be spent over in next two years, with 1.18 trillion yuan from the central government. Fiscal revenue exceeded 6.13 trillion yuan in 2008, up 19.5 percent.
BEIJING, March 24 (Xinhua) -- China said it would raise benchmark retail prices of gasoline and diesel by 290 yuan (42.46 U.S. dollars) per tonne and 180 yuan per tonne, respectively, as of midnight Tuesday. It is the second oil price adjustment this year. The National Development and Reform Commission (NDRC), China's top economic planner, cut benchmark pump prices of gasoline and diesel by 140 yuan and 160 yuan per tonne, or 2 percent and 3.2 percent, respectively, on Jan. 14. Experts said more frequent price adjustments show China can respond more quickly to international oil price changes after a new pricing mechanism took effect Jan. 1, 2009. The combined photo taken on Mar. 24, 2009 shows the price boards before (top) and after (bottom) the adjustment, in Beijing, China. China said it would raise benchmark retail prices of gasoline and diesel by 290 yuan (42.46 U.S. dollars) per tonne and 180 yuan per tonne, respectively, as of midnight Tuesday. Oil price fell to 53.10 U.S. dollars a barrel in electronic trading on the New York Mercantile Exchange on Tuesday. On the previous trading day, it settled at 53.80 U.S. dollars a barrel, the highest price since Dec. 1. Under the new mechanism, China's domestic prices are to be "indirectly linked" to global crude prices "in a controlled manner." "The 'indirect link' would be based upon average global crude prices, while taking into account domestic production costs, taxation, and 'appropriate profits' of oil producers," deputy director of the pricing department of the NDRC, Xu Kuning, said. Government-set fuel prices were previously changed infrequently. As a result, either Chinese drivers ended up paying more than those in other countries when crude prices dropped, or domestic refineries suffered huge losses when crude prices surged. Last Dec. 18, when the international crude price dropped from a record 147 U.S. dollars a barrel to less than 40 U.S. dollars, the NDRC announced a move to cut pump prices by 900 yuan and 1,100 yuan per tonne for gasoline and diesel, respectively. The new pricing mechanism was announced the following day and took effect at the beginning of this year. In Tuesday's notice to raise pump prices, the NDRC urged the two state-owned oil producers, PetroChina and Sinopec, to increase oil production to meet demands. It also urged local pricing regulators to strengthen supervision over oil prices and crack down on any price violations. China's crude oil output reached 190 million tonnes in 2008, up2.3 percent year-on-year, the highest growth in three years, according to the China Petroleum and Chemical Association. Imports of crude oil rose 9.6 percent year-on-year to 179 million tonnes last year, which accounted for 48 percent of total crude oil demand.
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