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BEIJING, Nov. 26 (Xinhua) -- China has tightened settlement and sale of foreign exchange by individuals to curb non-normal cross-border capital inflow, according to a statement of the State Administration of Foreign Exchange (SAFE).     Banks should deny, review or report to foreign exchange regulators, individual purchases or settlements of foreign exchange suspicious of splitting up one deal into several smaller ones to dodge limits on the size of exchange transfer by one person, which is understood to be one of the channels for hot money inflow, said the statement on Wednesday.     Practices including one overseas individual or institution remitting foreign exchange to five or more individuals within China who settle them respectively, or five or more individuals buying foreign exchange and remitting them to one and the same overseas individual or institution, on a single day, every other day or consecutive days, are considered exchange splitting behavior, said the SAFE.     China in 2007 set the limit of up to 50,000 U.S. dollars per year for an individual to exchange between yuan and foreign exchange.

WASHINGTON, Nov. 4 (Xinhua) -- The United States requested the World Trade Organization (WTO) on Wednesday to establish a dispute settlement panel to rule on China's export restraints on raw materials. But Chinese officials insist that they are consistent with WTO rules.     The materials at issue are: bauxite, coke, fluorspar, magnesium, manganese, silicon metal, silicon carbide, yellow phosphorus, and zinc, key inputs for numerous downstream products in the steel, aluminum, and chemical sectors across the globe.     The Office of the United States Trade Representative (USTR) said in a statement that the raw materials are "critical to U.S. manufacturers and workers."     The USTR also said that the European Union and Mexico are joining the United States in requesting the establishment of a WTO dispute settlement panel regarding this matter.     The U.S. and the European Union requested formal consultations with China at the WTO on June 23, 2009, and Mexico filed its consultations request on August 21, 2009.     "We believe the restraints at issue in this dispute significantly distort the international market and provide preferential conditions for Chinese industries that use these raw materials," said Debbie Mesloh, a USTR spokeswoman.     "Working together with the European Union and Mexico, we tried to resolve this issue through consultations, but did not succeed. At this point, therefore, we need to move forward with the next step in the WTO dispute settlement process," Mesloh stated. "We remain open to working with China to find a mutually agreeable solution to our concerns."     But the Chinese Ministry of Commerce defended China's export policies, saying they are consistent with WTO rules.     The chief aim of China's export policies is to protect the environment and conserve natural resources, said an official with the Ministry of Commerce in June.     China has been keeping communication and contact with the U.S. and the EU over China's policy on raw material exports, the official said, adding that China will properly deal with the consultation request in accordance with WTO dispute settlement procedures.     According to the procedures, China, the U.S., the EU and Mexico have 60 days to try to resolve their dispute through consultations. If consultations fail, the U.S., the EU and Mexico could ask for a WTO panel to investigate and rule on this dispute.

BEIJING, Oct. 28 (Xinhua) -- A senior Chinese mainland official on Wednesday urged media organizations across the Taiwan Strait to cover more stories on cross-Strait relations and report news events in an objective and comprehensive manner.     Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks in a meeting with a group of Taiwan media representatives led by Chiang Pin-kung, chairman of the island's Straits Exchange Foundation (SEF).     Media organizations play an irreplaceable role in promoting information exchanges, helping people on both sides better understand each other and eliminating estrangement, Jia said.     In light of the bright prospect of the peaceful development of cross-Strait relations, media exchanges between the two sides are facing unprecedented opportunities, he said.     Jia called for an early establishment of resident media bureaus on both sides and closer cooperation between news organizations to promote traditional Chinese culture.     He encouraged the staff of the media industry to seek common ground while shelving differences.     On behalf of the SEF and the people in Taiwan, Chiang expressed gratitude for the mainland's donations and assistance after the island was hit by Typhoon Morakot in August.     Mainland's donations, which were transferred to Taiwan mainly through the mainland-based Association for Relations Across the Taiwan Straits (ARATS), will be used for reconstruction in Taiwan, Chiang said.     Chiang also stressed the need for media at both sides to carry out further communication and cooperation.     According to Jia, the ARATS and the SEF had initially agreed to have the fourth round of talks in Taiwan's Taichung in mid or late December.

BEIJING, Dec. 10 -- China will extend stimulus measures in the automobile industry for one more year, with small adjustments, to further support the world's biggest and fastest-growing auto market.     The government announced the decision Wednesday after an executive meeting of the State Council chaired by Premier Wen Jiabao.     The stimulus package, which was due to expire at the end of this month, includes a 50 percent cut in the 10 percent purchase tax for cars with an engine capacity of, or less than, 1.6 liters and subsidies for trade-in cars. It will now be extended to Dec 31, 2010.     However, the purchase tax for smaller cars will be lifted from the current 5 percent to 7.5 percent of the total vehicle price.  Buyers examining a small car in an auto market in Nanjing. Purchase tax for smaller cars will be levied at 7.5%    Furthermore, the government also decided to raise the subsidy for trade-in cars from between 3,000 and 6,000 yuan to between 5,000 yuan and 18,000 yuan per vehicle.     The stimulus package launched by the government in January helped China's automobile sales to exceed an expected 13 million units this year, making the country surpass the US as the world's biggest auto market.     "It's unusual that demand for automobiles in a country increases more than 4.5 million units within 12 months, and sales break the monthly record for seven months in a year," said Rao Da, secretary-general of China Passenger Car Association.     Statistics from the China Association of Automobile Manufacturers (CAAM) show that the smaller cars, with engine capacity of, or less than, 1.6 liters, contributed 85 percent of the sales increase in the domestic auto market. Most of the best-selling cars in China are smaller cars.     The association estimated that the stimulus measures boosted the sales of smaller cars by 2.6 million units this year.     Because of the favorable policy, sales of the battery and electric car pioneer BYD in the first 11 months surged 150.2 percent to 388,246 units. About two-thirds of the car sales were of the F3 model, a compact sedan that topped China's best-selling car list for seven months, with monthly sales surpassing 30,000 units, nearly double the figure for last year.     According to CAAM, China's auto production and sales almost doubled from figures a year ago to reach 1.39 million and 1.34 million units respectively in November.     Overall auto sales topped 12.23 million units in the first 11 months, up 42.39 percent from the same period last year.

SINGAPORE, Nov. 11 (Xinhua) -- Visiting Chinese President Hu Jintao met here Wednesday evening with Singaporean President S. R. Nathan, with both exchanging views on further developing bilateral ties between the two countries.     President Hu said that as the two countries are to celebrate the 20th anniversary of the establishment of diplomatic relations next year, China is ready to provide Singapore with a pair of pandas for joint research in a bid to further enhance the friendly feelings between the people of the two countries. Chinese President Hu Jintao (R, front), accompanied by Singapore's President S.R. Nathan (R, rear), inspects the honour guard during a welcome ceremony in honor of Hu in Singapore, on Nov. 11, 2009President Nathan said that China's decision to offer a pair of pandas to Singapore is an important symbol of friendship between the two peoples.     During the meeting with Nathan, Hu said the bilateral relations have witnessed rapid growth since the two countries established diplomatic ties 19 years ago.     The two sides have maintained frequent exchange of high-level visits and achieved fruitful cooperation in various fields, said the Chinese leader. Chinese President Hu Jintao (2nd L) and his wife Liu Yongqing (1st L) pose for a group photo with Singapore's President S.R. Nathan (2nd R) and Nathan's wife in Singapore, on Nov. 11, 2009. Expressing satisfaction with the good momentum in the development of bilateral relations, Hu said China attaches great importance to its relations with Singapore and is ready to deepen mutually beneficial cooperation, so as to make greater contribution to peace, stability and prosperity of Asia.     Hu emphasized that human resource is a key area of bilateral cooperation, to which both sides have always paid great attention.     Strengthening exchanges between the young people of both countries is conducive to the long-term and stable growth of bilateral links, he said.     Hu also briefed Nathan about the measures that China has taken to offset the impact of the international financial crisis and to maintain a stable and relatively rapid growth of the economy, as well as the effects of these measures.     Nathan warmly welcomed Hu's state visit to Singapore, saying the visit is of milestone significance in the development of the bilateral relations.     Under the current circumstances of rampant trade protectionism, China's success in addressing the challenge of the global financial crisis and maintaining a rapid economic growth deserves admiration and congratulation from Singapore, he said.     Nathan said that as the People's Republic of China celebrated this year the 60th anniversary of its founding, the great changes in China have brought about opportunities for the whole region and benefited every country in the region.     He said Singapore and China enjoy a close relationship as bilateral cooperation in various fields grow smoothly. Singapore hopes to further strengthen exchanges and cooperation with China in various areas such as economy and trade, tourism and education and to expand cooperation at local levels, he added.     Nathan said Singapore is also ready to expand cooperation with China in the area of human resource development.     Noting that Asia is frequently striken by natural disasters, Nathan said China has accumulated valuable experience in disaster relief during the severe earthquakes in Sichuan last year and in post-disaster rehabilitation for other countries to learn from.     Before the meeting, Nathan held a welcome ceremony for Hu.     President Hu arrived here Wednesday afternoon for a state visit to Singapore. This is the final leg of his two-nation Southeast Asia trip, which has already taken him to Malaysia.     During his stay in Singapore, President Hu will also attend the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC) slated for Nov. 14-15.

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