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WASHINGTON, Dec. 29 (Xinhua) --The U.S. Commerce Department said on Tuesday that it has set preliminary antidumping duties (AD)on imports of steel grating from China, a move that might escalate trade disputes between the two countries. The department said it "preliminarily determined that Chinese producers/exporters have sold steel grating in the United States at 14.36 to 145.18 percent less than normal value." As a result of this preliminary determination, Commerce will instruct U.S. Customs and Border Protection to collect a cash deposit or bond based on these preliminary rates. The product covered by this investigation is a downstream steel product typically comprised of bearing and cross bars used for walkways, platforms and flooring. From 2006 to 2008, imports of steel grating from China increased 538.44 percent by volume and were valued at an estimated90.7 million dollars in 2008, according to the U.S. Commerce Department. Commerce said that it is currently scheduled to make its final determination in April 2010. If Commerce makes an affirmative final determination, and the U.S. International Trade Commission makes an affirmative final determination that imports of steel grating from China materially injures, or threaten material injury to, the domestic industry, Commerce will issue an antidumping duty order. The new case followed U.S. President Barack Obama's recent decision to impose punitive tariffs on all car and light truck tires from China for three years, a move quickly denounced by China as a "serious act of trade protectionism." The protectionist moves by the Obama administration will ultimately hurt the U.S.-China trade relations, which are becoming more and more important due to the global financial crisis, economists warned.
SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company. The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai. The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company. The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects. Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies." The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company. The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent. Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.

NINGBO, Zhejiang, Nov. 7 (Xinhua) -- A senior official has called for unity among people living on both sides of the Taiwan Strait to promote the peaceful development of cross-Strait relations.Jia Qinglin, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during his meeting with James Soong, chairman of the Taiwan-based People First Party and Yok Mu-ming, chairman of the New Party Saturday in Ningbo of east Zhejiang Province. Jia praised Soong and his party for firmly opposing "Taiwan independence", safeguarding the interests of people from both sides of the strait and those of the Chinese nation, and promoting cross-Strait cooperation. Jia Qinglin (R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with People First Party Chairman James Soong in Ningbo, east China's Zhejiang Province, on Nov. 7, 2009 Jia, also chairman of the National Committee of the Chinese People's Political Consultative Conference, said that the cross-Strait relations have recorded much progress in the past year, and the mainland will continue to promote the all-round development of the ties and work for the well-being of people on both sides. The Chinese nation is facing the bright prospect of its great rejuvenation, and people on both sides should seize and make full use of such a historical opportunity, work together with one heart and grasp the future of cross-Strait relations in their own hands, he said. Obstacles and disruptions will not stop the cross-Strait relations from moving forward in the peaceful direction, he said. Jia said to promote the development of cross-Strait ties, people on both sides should work on more practical issues, he said, citing the discussion of cross-Strait cooperation in agriculture and fishery. Jia Qinglin (R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), shakes hands with People First Party Chairman James Soong during their meeting in Ningbo, east China's Zhejiang Province, on Nov. 7, 2009He said work benefiting people on both sides should be done as much as possible and all forces supporting the peaceful development of cross-Strait relations and all friends opposing "Taiwan independence" and adhering to the one-China principle should be united. Soong said Taiwan is inalienable territory of China and Taiwan people form an inseparable part of the Chinese nation. People on both sides should have broader and deeper exchanges to increase mutual understanding and achieve more common ground. He pledged that the People First Party will continue to actively promote the cross-Strait relations. Yok Mu-ming said the mainland and Taiwan should increase technical exchanges and industrial cooperation on agriculture and fishery to create an "economic miracle" for the peaceful development of cross-Strait relations.
BEIJING, Jan. 9 (Xinhua) -- Hu Jintao, general secretary of the Central Committee of the Communist Party of China (CPC), urged to deepen fiscal and taxation system reforms, and improve the efficiency of fiscal management, so as to maintain steady and comparatively fast economic development. It is imperative to continue the pro-active fiscal policy and moderately loose monetary policy, with priority given to the implementation of policies that support domestic consumption expansion, economic growth, economic structure adjustments and projects concerning people's livelihood, said Hu at a seminar attended by members of the Political Bureau of the CPC Central Committee and researchers from the nation's top think tanks on Friday afternoon. He also called for more investment in agriculture and rural areas, independent innovation and fostering of emerging strategic industries. More fiscal resources should be channeled to promote public welfare development and back up undertakings concerning people's livelihood, especially education, employment, social security, medical care, affordable housing construction, and environmental protection, according to Hu. Hu also called for improving the taxation system by optimizing taxation system structure, working out a more fair distribution of the tax burden, and standardizing income distribution, in a bid to promote healthy economic development.
来源:资阳报