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TORONTO, Dec. 29 (Xinhua) -- The emerging markets of China, India and Brazil will lead the way in global auto sales in 2010, a report said Tuesday. The U.S. market, meanwhile, was expected to see a double-digit increase and will lead the growth of mature markets in 2010, said the global auto report by Canadian Scotiabank Economics. The report said that a cyclical recovery in global auto sales began in the spring of 2009 and would gain momentum in 2010. China became the world's largest auto market in 2009, surpassing purchases in the United States. Car sales in China surged by more than 40 percent to 7.3 million units this year thanks to government incentives. The incentives included a reduction in sales tax from 10 percent to 5 percent for small fuel-efficient vehicles with engines less than 1.6 litres. The incentives were expected to lift sales by 20 percent to nearly 9 million units in 2010, the report said. "Global car sales will continue to be buoyed by the ongoing massive and synchronized monetary and fiscal stimulus, which has generated a global economic recovery, including improving auto lending across the globe," said Carlos Gomes, senior economist at Scotia Economics. "In fact, we estimate that auto loans across major markets bottomed in the first quarter of 2009 and have improved consistently alongside a thawing in global credit markets and falling interest rates," he said. According to the report, improving access to credit and a return to 3-percent growth in the world economy will enable 2010 car sales to recapture half of the ground lost over the past two years, and set the stage for record volumes in 2011. Auto sales in the United States have reversed the downward trend, with volumes advancing above a year earlier since August alongside a nascent economic recovery. The report also predicted that through a vehicle scrappage program to spur the market, auto sales in Canada would reach 1.53 million units in 2010, up from 1.45 million this year. "On average, 7 percent of the Canadian fleet is replaced each year," Gomes said. "However, the scrappage rate slumped to less than 6 percent in 2009, as the global economic downturn prompted Canadians to tighten their wallets and continue to drive their aging vehicles.
espect. During his meeting with Anastase, Xi said China-Romania relations have maintained steady development since the two countries forged diplomatic ties 60 years ago. China highly appreciates Romania's support on major issues relating to Taiwan, Tibet and Xinjiang which concerns China's sovereignty and territorial integrity, he said. The recent years have witnessed frequent exchanges of high-level visits, growing political mutual trust, fruitful economic and trade cooperation, and various cultural and educational exchanges, he added. Chinese Vice President Xi Jinping (R, front) meets with Romanian Chamber of Deputies Speaker Roberta Anastase in Bucharest, Romania, Oct. 19, 2009China highly values the bilateral friendly relations with Romania and expects to work with Romania to expand their pragmatic cooperation and push the bilateral ties to a new height, Xi said. Anastase said that the past 60 years have seen frequent exchanges between the two countries' parliaments. The Romanian parliament hopes to further strengthen exchanges with China's National People's Congress and is ready to help promote economic and trade cooperation between the two countries, she said. Both Geoana and Anastase reaffirmed that the Romanian parliament would never change its stand on the one-China policy. The Chinese vice president arrived here on Sunday on an official visit to Romania, which was the last leg of his five-nation European tour.
ROME, Nov. 17 (Xinhua) -- China's experience in eradicating hunger can be learned by other developing countries, the president of the UN International Fund for Agricultural Development (IFAD) said on Tuesday. Speaking to reporters on the sidelines of the World Summit on Food Security, Kanayo Nwanze said China has done a lot both in increasing national funds for agriculture and in supporting other developing countries through strategic rural investments. "I have seen firsthand progress," he said. "China was able in 30 years, from 1978 to 2007, to reduce rural poverty from 30 percent to 1.6 percent through massive investments in rural development and rural areas, focusing on women, right policies andl and access." For Nwanze China can be a role-model for other developing countries. "Through her own experience China is able to collaborate with others in bringing its knowledge and technology to other parts of the world," he said. However, "it is then the recipient country's responsibility to ensure that these experiences are properly used," he added. "China's partnership with developing countries, in particular Africa, is able to assist these countries but it is imperative that the developing countries have themselves the right policies to ensure that the investments reach the rural population," Nwanze said.
BEIJING, Nov. 17 (Xinhua) -- Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), on Tuesday urged political advisors to contribute their wisdom to China's social and economic development. Political advisors should watch closely the domestic and international economic situations and problems that China had in the process of development and put forward wise and pragmatic solutions, Jia said. He urged political advisors at all levels to carry out in-depth study on the key issues including macro-economic policy, environmental protection, public resource distribution and reform of the income system. Jia made the remarks at a chairman's meeting of the CPPCC National Committee.
BEIJING, Jan. 7 (Xinhua) -- Vice Premier Zhang Dejiang urged the country's railway departments to make efforts to promote safe railway transport and build quality railway projects to better serve socio-economic development. Continuous efforts should be made to relieve railway transport capacity shortage and further expand the country's railways network, Zhang told a national railway conference. "Although shortage of the country's passenger and goods transportation by railways has been eased to some extent, railways are still a bottleneck restricting economic development," Zhang said. He stressed railway technology innovation, railway project quality and improvement of services for the convenience of passengers. Zhang also urged railway departments make full preparations to cope with traffic peak during the upcoming holiday, when millions of people rush back home for the Spring Festival, China's Lunar New Year, which falls on Feb. 14. In 2009, China's railways saw a passenger flow of 1.52 billion and transported 3.32 billion tonnes of freight, both breaking records. The country's railways are expected to see a record of 1.64 billion passenger trips in 2010, up 7.6 percent from last year.