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WASHINGTON, April 27 (Xinhua) -- Chinese Commerce Minister Chen Deming has called for stronger economic ties between China and the United States. "Economic links have always been an important basis for the China-U.S. relationship, and the growth in trade between the two countries has been robust since the establishment of normal diplomatic relations," Chen wrote in an article published in The Wall Street Journal on Monday. Currently, China and the U.S. are each other's second-largest trading partner with the volume of the two-way trade in goods exceeding 300 billion U.S. dollars. But the commercial ties between the two nations have been affected by the global financial crisis. Chinese statistics show bilateral trade dropped 6.8 percent, and U.S. investment in China slumped 19.4 percent, on a year-on-year basis in the fourth quarter of last year and the first quarter of this year, Chen wrote. He was scheduled to meet with his U.S. counterpart on Monday to discuss bilateral trade and investment measures. "History tells us that the more serious a crisis becomes, the more committed we must be to openness and cooperation," Chen wrote. "Regrettably, however, trade measures by the U.S. against China are on the rise." Recently, American industries have petitioned the U.S. government for antidumping investigations, and for investigations under the World Trade Organization's "special safeguard provision," which could restrict imports of Chinese products, he said. "This will seriously test China-U.S. economic and trade relations," he added. The Chinese commerce minister noted that the need to foster positive Sino-U.S. ties has never been greater. He also called on both sides to step up cooperation in trade and investment issues, and explore and establish new possibilities for cooperation in such areas as agriculture, new and high technology, finance, energy and the environment. "Dialogue and communication also need to be intensified concerning multilateral and regional trade and economic affairs," he said. To that end, Chen put forth four proposals: -- To seize the opportunity for cooperation, and work together to tackle the crisis; -- To mutually open markets to expand trade and investment; -- To strengthen bilateral dialogue and resolve differences properly; -- To safeguard the environment for trade and advance the Doha Round. Chen also said now it's no time for protectionism. The U.S. and China, as the largest and the third-largest trading countries in the world respectively, should take the lead in following up the consensus reached at the G20 Summit in London and refrain from formulating any new trade protection policies before the end of 2010, he wrote. "A positive, cooperative and comprehensive Sino-American relationship will surely bring new prosperity and development to both economies," he added. In his article, he also expressed hope and confidence that bilateral trade would rise to a new high and exceed 500 billion U.S. dollars in the next five years, growing in a more balanced way.
BEIJING, May 14 (Xinhua) -- Li Changchun, a senior leader of the Communist Party of China (CPC), met here with delegates from South Asian countries Thursday, calling on the broadcast institutions in China and South Asia to forge further cooperation. ; Exchanges among broadcast institutions are a very important component of cooperation between China and South Asian countries, said Li, member of the Standing Committee of the Political Bureau of the CPC Central Committee, during a meeting with the delegates who were here to attend a China-South Asia forum on radio and television. Li said media interactions are necessary to increase mutual understanding and boost common development between the countries. The forum was attended by delegates from China and seven membercountries of the South Asian Association for Regional Cooperation,or SAARC. They shared their thoughts and views on the cooperation and development of media. The theme of the forum was "Strengthening exchange and cooperation, Promoting common development. More than 30 high-ranking officials from government bodies and senior management personnel from broadcasting organizations in SAARC member countries attended the forum.
L'AQUILA, July 9 (Xinhua) -- U.S. President Barack Obama said on Thursday that he was looking forward to visiting China later this year. Obama made the remarks when meeting with Chinese State Councilor Dai Bingguo, who was here to attend the leaders' meeting of the Group of Eight (G8) and five leading emerging economies (G5) on behalf of Chinese President Hu Jintao. During the meeting, Obama said the U.S. side attached importance to the U.S.-China relations, and he hoped that the upcoming U.S.-China Strategic and Economic Dialogue could generate fruitful results, according to a press release issued by the Chinese delegation. It is important for the United States and China to enhance cooperation on major international issues, Obama said, adding that it benefits both countries and both people. The two also exchanged views on bilateral relations and other major international and regional issues, said the press release. Dai conveyed Hu's greetings to Obama while Obama asked Dai to pass on his greetings and good wishes to Hu. Hu cut short his stay in Italy and skipped the G8 meeting due to the situation in China's Xinjiang Uygur Autonomous Region. He returned to Beijing Wednesday.
BEIJING, June 30 (Xinhua) -- Taiwan authority opened up the island to Chinese mainland investment Tuesday with 100 categories of manufacturing, service and infrastructure sectors in the initial opening-up list. The move marks a historic breakthrough of decades-long hopes for two-way investments across the Taiwan Straits. Under two new regulations in effect Tuesday, mainland individuals, companies and institutions can set up branch offices, wholly-owned or joint-venture companies on the island. They have to get approval from Taiwan economic affairs authority in advance, according to the regulations. Investment from firms based outside the Chinese mainland, in which mainland ownership is more than 30 percent, will also be regarded as mainland investment in Taiwan, the regulations said. In the initial phase, the Taiwan authority allows mainland investment in 64 categories in manufacturing sector, 25 categories in service sector, and 11 categories in infrastructure sector on the island. Mainland investment would "help Taiwan's economy prosper" and make international investors more confident in Taiwan market, said John Chen-Chung Deng, deputy head of Taiwan's economic affairs authority, at Tuesday's press conference. The investment would help increase industry capital in Taiwan and make its financial market more vigorous, he said. Through two-way cross-Straits investments, the two sides could jointly explore mainland and international markets, he told the press conference. The formalization of cross-Straits investment is a long-term objective, he said. The opening-up will advance in a "gradual" way and "will be expanded as long as the initial investment bears fruits." The Taiwan authority planned to send a team to the mainland to attract investment in the second half of this year, he said. Taiwan welcomes mainland companies to conduct investigations for investment on the island. For the convenience of mainland investors in Taiwan, the relevant authority in Taiwan has also set down regulations on issues including medical service, education, financial need and house purchasing for both the investors and their family, according to the official. BREAKTHROUGH IN TWO-WAY INVESTMENT Experts said the move marks the end of the one-way flow of capital from Taiwan to the mainland, and is a basic indicator of the normalization of economic and trade ties between the two sides. Zhang Yansheng, director of the Institute of Foreign Trade under the National Development and Reform Commission (NDRC), said the influx of mainland capital would greatly boost Taiwan's gross production value, tax income and employment. The investment would not only benefit Taiwan companies harshly hit by the international financial turmoil, but also enhance competitiveness of mainland companies, he said. Liu Xiaohong, deputy general manager of Quanjude (Group) Co. Ltd., a Beijing-based company that specializes in the famous Peking roast duck, said the newly announced regulations have cleared major obstacles and will accelerate the company's pace to open outlets in Taiwan. Direct transport, postal service and trade was totally cut off between the two sides since the Chinese civil war ended in 1949. On Jan. 1, 1979, the Standing Committee of the National People's Congress, or the top legislature, called for an early realization of the three direct cross-Straits links on transport, mail and trade in its "Message to Compatriots in Taiwan". After 1979, the mainland allowed Taiwan products to enter at lower tax rates or tax-exemption. In July 1988, the State Council, or the Cabinet, issued regulations encouraging Taiwan compatriots to invest on the mainland. The mainland has been the largest trade partner of Taiwan since 2003, with annual trading volume surpassing 100 billion U.S. dollars. Tuesday's announcement came about two months after the mainland and Taiwan reached a historic consensus on allowing mainland companies to invest in Taiwan during talks between the two sides top negotiators on cross-Straits relations.