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HONG KONG, March 20 (Xinhua) -- Hong Kong signed an agreement with Brunei for the avoidance of double taxation and the prevention of fiscal evasion with respect to income taxes, the HK Special Administrative Region government said on Saturday.According to an official news release, Financial Secretary John Tsang signed the deal with Brunei Second Minister of Finance Abdul Rahman Ibrahim on Saturday during his visit to the southeast Asian country.This was the sixth comprehensive agreement for the avoidance of double taxation concluded by Hong Kong.It will eliminate double taxation instances encountered by Hong Kong and Bruneian investors, and bring about tax savings and certainty in tax liabilities in connection with cross-border economic activities.It is also believed to help foster closer economic and trade links between the two places, and provide added incentives for Brunei's enterprises to do business or invest in Hong Kong.Profits of Hong Kong trading companies doing business through a permanent establishment in Brunei may be taxed in both places if the income is Hong Kong sourced. Under the agreement, double taxation is avoided in that any Brunei tax paid by the companies can be deducted from the tax payable in Hong Kong.

BEIJING, March 8 (Xinhua) -- Chinese President Hu Jintao urged scientific development of the Binhai New Area, an economic powerhouse in north China, when joining a panel discussion with lawmakers from Tianjin Municipality.It is urgent to accelerate the transformation of the economic development pattern and promote growth led by innovation and driven by internal impetus, Hu told the deputies to the National People's Congress (NPC), China's supreme legislature.Lying between Beijing and the Bohai Gulf, the Binhai New Area, with a population of 1.4 million, is an economic engine that drives the development of the country's north. Chinese President Hu Jintao talks with deputies to the Third Session of the 11th National People's Congress (NPC) from Tianjin Municipality, in Beijing, capital of China, March 8, 2010.The new area should play a leading role in the country to implement the scientific outlook on development and focus on improving people's livelihood and solving problems that the public care the most, Hu said.The city should seek coordinated social and economic development, and continuously strengthen its capabilities in urban planning, construction and management to build Tianjin into an international and modern city where people enjoy living.Wu Bangguo, chairman of the Standing Committee of the NPC, joined a panel deliberation on the draft amendment to the Electoral Law with lawmakers from the southwestern Yunnan Province.He said the electoral system is an important basis of the people's congress system and an important content of the socialist path of political development with Chinese characteristics."We must bring into better play the advantages of the electoral system with Chinese characteristics," Wu told the deputies.While joining a panel deliberation with NPC deputies from the eastern Shandong Province, Premier Wen Jiabao called for balanced development between urban and rural areas.The province should make efforts to expand export of its farm produce and help manufacturing businesses go through difficult times and upgrade their production capability, Wen said.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), joined a panel discussion of political advisors from science and technology circles.Jia said science and technology workers should make efforts to advance innovation and contribute to the country's transformation of economic growth pattern.Speaking to NPC deputies from Fujian Province, Li Changchun, a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, called for vigorous publicity efforts on the transformation of the economic development pattern.Vice Premier Li Keqiang told NPC deputies from Hainan Province to continue the efforts in developing the island into an international tourism destination.He said the province should develop tropical agriculture and marine economy, and strengthen energy conservation and environment protection.Zhou Yongkang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, joined the deliberation of the government work report with deputies from the Xinjiang Uygur Autonomous Region.He said the region must "seize the historic opportunity, as the central authorities' conference on the work of Xinjiang approaches, ...to build a prosperous, harmonious and stable society in Xinjiang."The annual full sessions of the CPPCC National Committee and NPC opened in Beijing last Wednesday and Friday.

SHARM EL-SHEIKH, Feb. 14 (Xinhua) -- A senior Syrian official underlined on Sunday the importance of cooperation with China, especially in the fields of agriculture and food security.Talking to Xinhua on the sidelines of a joint Afro-Arab ministerial meeting, Nabi Rasheed, an aide to the Syrian minister of agriculture, said his country pays much attention to cooperation with China on agriculture and food security and looks forward to more joint projects in this regard."Syria and China cooperate with each other in the long term through the exchange of delegations and training programs. A high- level Chinese delegation led by the agriculture minister has visited us recently, when we discussed opportunities and means to boost agricultural cooperation. Syria will also take part in the 2010 Shanghai EXPO," the Syrian official said.Rasheed who headed his country's delegation to the Joint Afro- Arab Ministerial Meeting on Agricultural Development and Food Security which kicked off on Sunday in the Egyptian resort of Sharm el-Sheikh, said the current meeting has attached greater importance due to the drought which haunts many Arab and African countries and the global financial crisis.The recent food crisis caused the prices of many food stuff to ratchet up and the global financial crisis forced many countries to cut funds allocated to agricultural development, said the official."I hope the meeting will lay a concrete foundation stone for cooperation between Arab and African states at this vital stage," he said.The Syrian official added that the meetings aim to establish a common Arab-African strategy on agriculture and food security, pointing out that there is a plan to set up a follow-up, steering and coordination body along with a special fund to support the implementation of decisions to be sanctioned by the ministers.Rasheed added that his country has already taken tangible steps on food security, "Syria has successfully made food security years ago thanks to governmental policies and its support for the agricultural sector.""We have achieved this goal," he said, yet adding his country still faces challenges due to the recent drought which is the worst in 50 years.

BEIJING, Feb. 22 -- The Chinese central government plans to implement a new policy in the first half of this year to encourage auto industry consolidation and further the development of Chinese-brand passenger vehicles, an official from the Ministry of Industry and Information Technology said at a recent news conference.According to sources with knowledge of the new policy, it intends that Chinese-brand passenger vehicles will comprise at least half of vehicle sales by 2015 and sedans made by entirely domestic automakers will have about 40 percent of the nation's car market.Statistics from the China Association of Automobile Manufacturers (CAAM) show that 4.58 million Chinese-brand passenger vehicles were sold last year, some 44.3 percent of the total. Through an acquisition deal with Aviation Industry Corp last year, Chang'an Auto closed the biggest asset deal between State-owned auto enterprisesSales of domestic sedans hit 2.22 million units, almost 30 percent of the segment.The new policy will also focus on accelerating consolidation between automakers and could lead to a new round of reshuffling, industry insiders said.China became the world's largest auto producer and market last year with both production and sales surpassing 13.5 million vehicles due in part to government incentives.There are now more than 130 carmakers across the country, but most of them are small enterprises with annual production and sales of fewer than 10,000 units.Only five had sales of more than 1 million units last year as the country's top 10 carmakers moved a total of 11.89 million vehicles to account for 87 percent of overall sales, according to market data.Consolidation movesLast year, Chang'an Motor Corp acquired two minivan makers - Hafei and Changhe - as well as engine producer Dong'an Auto from the Aviation Industry Corp of China (AVIC), marking the biggest asset deal ever between State-owned auto companies.Chang'an is the fourth-largest motor group in China and the local partner of US carmaker Ford Motor and Japan's Mazda and Suzuki. After the acquisition, Chang'an's 2009 sales were only 30,000 units behind Dongfeng, the country's third-largest motor group.Guangzhou Automobile Group Corp, the country's sixth-biggest automaker, bought a 29 percent stake of Shanghai-listed SUV maker Changfeng Motor Co Ltd for 1 billion yuan in May last year.Beijing Automobile Industry Holding Corp, China's fifth-largest carmaker, reportedly finalized a deal last month to buy a 40 percent stake in Daimler AG's van joint venture with Fujian Motor Industry Corp.By 2012 policymakers hope consolidation will result in two to three large-scale auto groups, each with annual production capacity surpassing 2 million units, and four to five companies with annual output of more than 1 million vehicles, according to the national auto industry revitalization plan released in March last year.The current top-four Chinese motor groups are SAIC Motor Corp, FAW Group, Dongfeng Motor and Chang'an Motor. Carmakers including Beijing Automobile, Guangzhou Automobile, Chery, Geely and Sinotruk form the second tier in the country's auto industry.Going globalLi Yizhong, minister of Industry and Information Technology, said recently that in addition to fueling industry consolidation, the government will also implement measures to encourage domestic automakers in reaching overseas this year through investment, acquisition of foreign brands, building research and development facilities and developing sales networks.Industry sources said that the new policy calls for 20 percent of overall sales by major auto groups to be generated overseas in the next few years.In the wake of the financial crisis, China's vehicle exports fell sharply by 45.7 percent to 369,600 units last year, according to statistics from the General Administration of Customs. Industry analysts generally expect a rebound in car shipments this year as the foreign markets begin to recover.Despite the poor export performance, Chinese companies were aggressive in acquiring overseas assets in 2009.Homegrown carmaker Geely's bid for Swedish luxury brand Volvo received a lot of media exposure in 2009. The Zhejiang-based company will reportedly close the deal soon.Beijing Automotive bought some of Swedish carmaker Saab's core assets and technologies for 0 million last year.Li noted that along with encouraging acquisitions and consolidation, the government will restrain overcapacity in the auto industry.Li also said that the ministry will accelerate the development of new energy vehicles, including hybrid, pure electric and fuel battery models.The new policy will reportedly stipulate that Chinese partners hold at least a 50 percent share in newly built Sino-foreign joint ventures that produce core parts for alternative-energy vehicles.

BEIJING, March 7 (Xinhua) -- Foreign Minister Yang Jiechi said here on Sunday that China was misunderstood by some people who have accused the country of becoming "tough," and he called for the abandonment of "colored spectacles" about China."We stick to our principals, which is totally different from being tough," Yang said at a press conference on the sidelines of the annual session of the National People's Congress (NPC), the country's top legislature.Chinese Foreign Minister Yang Jiechi answers questions during a news conference on the sidelines of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 7, 2010It has always been the mission for China's diplomacy to defend China's sovereignty, security and development interests, while promoting world peace and development, he said.

来源：资阳报