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BEIJING, Sept. 7 (Xinhuanet) -- China will "vigorously" expand its imports of key products as the nation strives to cut its trade surplus amid growing protectionism against the world's largest exporter, a senior Chinese trade official said on Monday."We will especially encourage imports of products the nation is short of, especially advanced technology and key equipment," said Chong Quan, China's deputy international trade representative.Special attention will be paid to expanding imports from countries that China has a trade surplus with, he said at the China Import Forum organized by the Ministry of Commerce.Due to their domestic economic woes and political pressure, some developed countries, in particular the US, have accused China of piling up trade surpluses through policies such as an undervalued currency. This argument conveniently ignores other factors at play, such as their own export restrictions.Nonetheless, in the first six months of this year, US exports to China increased 35.7 percent year-on-year, 13 percentage points higher than its overall export growth, according to US figures.Despite the surge of its trade surplus in July, which stood at .7 billion, China will see the surplus drop dramatically for the year to about 0 billion, compared to 0 billion in 2009 and 0 billion in 2008, trade officials said. The country even registered a rare trade deficit of .2 billion in March.As a result of the shift in strategy, the ratio of China's current account (mainly trade of goods) balance to its gross domestic product has been dropping continually since 2007, said Zhang Yansheng, director of the Institute of Foreign Trade at the National Development and Reform Commission."China's processing trade (bringing in goods and exporting finished products), which is the bulk of its exports, could plummet in the coming five years," he said.

BEIJING, Oct. 8 (Xinhua) -- China is ready to work closely with the new leadership of the Democratic People's Republic of Korea (DPRK) to cement bilateral friendly cooperative ties, said Chinese Vice President Xi Jinping on Friday.Xi made the remarks while addressing a reception at the DPRK embassy in Beijing to mark the 65th anniversary of the founding of the ruling Workers' Party of Korea (WPK).Xi said over the past 65 years, people of the DPRK had made remarkable achievements in overcoming difficulties, safeguarding national sovereignty and building Korean-style socialism. Chinese Vice President Xi Jinping (1st L) speaks at a banquet to celebrate the 65th anniversary of the founding of the Workers' Party of Korea (WPK), held by the embassy of the Democratic People's Republic of Korea (DPRK) to China in Beijing, capital of China, Oct. 8, 2010.He said General Secretary of the WPK Kim Jong Il had led the party and people to be self-reliant, to struggle arduously and to make great achievements in the cause of building a strong and prosperous socialist country."We believe that under new leadership of the WPK, the DPRK people will see greater progress in developing its economy, improving living standards, achieving peaceful national unification and expanding foreign relations," said Xi.China was glad to see the continous consolidation and development of bilateral ties nurtured by generations of state leaders and the joint efforts of the two peoples.Xi also recalled Kim Jong Il's two China trips this year, in which the DPRK leader had reached important accords with General Secretary Hu Jintao of the Central Committee of the Communist Party of China (CPC)."We are willing to join hands with the DPRK new leadership to further promote China-DPRK friendly cooperative relations in a spirit of carrying forward the tradition, looking forward to the future, developing good-neighborliness and friendship and boosting cooperation," Xi said.About 100 delegates from both countries attended the reception

TIANJIN, Sept. 5 (Xinhua) -- Executives from China's auto makers Sunday rejected an official warning that unchecked growth in the industry was leading to excess capacity and could harm the wider economy.Chen Bin, an official with the National Development and Reform Commission, China's top economic planner, Saturday said excess auto capacity threatened sustainable economic development and must be "resolutely" stopped.But industry representatives and the China Association of Automobile Manufacturers (CAAM) Sunday argued car makers were only trying to meet expected demand in the world's largest auto market.Dongfeng Automobile, a major Chinese auto manufacturer, had been running in top gear since last year, said Fan Zhong, a senior manager. "Our problem is not having enough capacity."Most entrepreneurs at the International Forum on Chinese Automobile Industry Development in Tianjin had similar views.Ford China was focusing on expanding capacity as demand kept rising, said CEO Robert Graziano.The overall capacity of China's auto industry might seem excessive, but the market had huge potential for restructuring and growth, said Hu Xinmin, honorary chairman of the CAAM.

BEIJING, Aug. 27 (Xinhua) -- Chinese Premier Wen Jiabao has urged government officials at all levels to strictly follow the laws and regulations in a bid to steer away from corruption and ensure the good of the public."In a peaceful time, corruption is the greatest danger for a ruling party, and the basic reason for corruption is that powers are not properly supervised and restricted," Wen said Friday during a national meeting on lawful administration.He called it a "major test" for the government to handle graft issues properly.Wen said the task of building a lawful government is the basic guarantee for promoting social fairness and justice, a key measure for anti-corruption and also an essential part for the reform of the country's political system."Currently our country's economic and social development has entered a new phase. More challenges have emerged as domestic and overseas environments become more complicated. We should deepen reform while promoting administration in accordance with the laws in order to solve new problems," he said.According to Wen, a sound market environment with fair competition can only be created when the government uses laws and regulations to manage various market entities, provide services for them and ensure their rights.He urged officials to strengthen legislation in key fields in order to solve deep-seated problems in the economic and social development, and ensure public ideas be fully reflected during the legislation process.Further, Wen called for scientific and democratic decision-making."Before making a major decision, the idea must be examined as to whether it is in accordance with the laws. If it goes beyond the authority of the decision makers or goes against the laws, the idea should be discarded," he said.Wen also called for a transparent and open government work system as long as it doesn't involve state secrets, commercial secrets or individual privacy.He cited key areas that should be open to the public including financial budgets, management of public resources, major construction projects and charities, among others.In addition, Wen urged improving the current administrative supervision system and called on government departments to protect civilians' rights to directly supervise the government and support media exposure on illegal activities and improper behavior by government officials.

ATHENS, Oct. 3 (Xinhua) -- Chinese Premier Wen Jiabao on Sunday pledged to support a stable euro and strengthen cooperation with the European Union (EU)."China will not reduce its euro-bond holdings and China supports a stable euro," Wen said during a speech at the Greek parliament.China and the EU have signed a string of important trade investment contracts to help Europe overcome its financial difficulties, said Wen who arrived in Athens on Saturday on a three-day official visit.Since the outbreak of the global financial crisis, Chinese leaders have visited Europe several times and had frequent meetings with EU leaders, noted the Chinese premier.That, he said, shows Beijing attaches great importance to China-EU relations and "wants to join you in a concerted effort to tide over difficulties."After some European countries suffered sovereign debt crisis earlier this year, Wen said, his government announced many times that Beijing firmly supports the measures adopted by the EU and the International Monetary Fund."China is sincere in enhancing cooperation with Europe and we are confident about the prospects of our cooperation," Wen said.Thanks to joint efforts, China-EU trade has already exceeded the pre-crisis level, he said."China is committed to advancing China-EU relations. This is not an expediency, but a long-term strategic policy," Wen said.