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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.
BEIJING, Nov. 8 (Xinhua) -- The output value of China's energy saving and environmental protection industry would hit 2.8 trillion yuan (412 billion U.S. dollars) by 2012, said Xie Zhenhua, deputy director of the National Development and Reform Commission on Sunday. Those sectors have become a new economic growth point and have bright prospects in China, Xie said at the fourth China-Japan Energy-saving and Environment Protection Forum which began Sunday. He said the government will beef up investment in the construction of resource recycling projects, which will directly boost the industry development. He noted the government will further reform the pricing system of the resource products. Enterprises should also enhance innovation to break technological bottleneck notably in the development of clean coal transfer technology and pollutants treatment facilities. China has been pushing for a national energy saving campaign to address the worsening conflicts between economic growth and environmental deterioration.
BEIJING, Dec. 9 (Xinhua) -- Chinese Vice President Xi Jinping Wednesday called for strengthening Party building in the non-public economic sector and social organizations. Xi, also a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, told a symposium that efforts should be made to expand Party organizations in the non-public sector and social organizations, and select right persons to head the Party committees. Xi also urged to absorb more people from the non-public sector to join the CPC and to explore ways for the CPC organizations to play a more effective role. He said measures should be constantly improved to ensure the scientific development of the non-public sector and social organizations.
COPENHAGEN, Dec. 17 (Xinhua) -- Chinese Premier Wen Jiabao said Thursday that the Copenhagen climate talks have reached the decisive moment and all parties should focus on consensus in a future-oriented manner and seek common grounds while shelving differences so as to bring hope to the world people. Wen made the remarks when he met British Prime Minister Gordon Brown, German Chancellor Angela Merkel and Japanese Prime Minister Yukio Hatoyama on the sidelines of the UN-led talks being held here. Wen said many developed countries have tabled quantified emission reduction targets while some developing countries have also set up voluntary goals in curbing emissions, which represents new progress in international cooperation in tackling climate change. Chinese Premier Wen Jiabao (R) shakes hands with British Prime Minister Gordon Brown in Copenhagen, Denmark, Dec. 17, 2009. The key to fighting climate change is to follow the principle of "common but differentiated responsibilities," Wen said. Countries should deliver their commitments in earnest and enhance mutual trust instead of harboring mistrust or even confronting with each other, he added. China is always true in word and resolute in deed, Wen said, adding that the Chinese side will overcome difficulties to realize the goal of curbing greenhouse gas emissions. Chinese Premier Wen Jiabao (R) shakes hands with German Chancellor Angela Merkel in Copenhagen, Denmark, Dec. 17, 2009.Wen also said China's work in this regard is open and transparent and is subject to the supervision of domestic laws and media, and China is willing to conduct international exchanges, dialogues and cooperation in information disclosure. Brown, Merkel and Hatoyama spoke highly of China's efforts in dealing with climate change and introduced their own countries' positions during the climate talks. They also expressed willingness to strengthen cooperation with China to strive for achieving positive results at the summit. Wen also attended a banquet hosted by Danish Queen Margrethe II for world leaders at the summit. Chinese Premier Wen Jiabao (front) arrives to attend the dinner hosted by Denmark's Queen Margrethe II in Copenhagen, Denmark, Dec. 17, 2009. The dinner was held to welcome the leaders attending the United Nations Climate Change Conference.
BEIJING, Dec. 7 (Xinhua) -- China's auto sales and output both exceeded 12 million units in the first 11 months, the China Association of Automobile Manufacturers (CAAM) announced Monday. The CAAM forecast sales and output for the whole year would both exceed 13 million units. In November alone, sales reached more than 1.35 million units, according to preliminary statistics. Detailed figures are expected to be released on Tuesday. The country's largest auto maker, Shanghai Automotive Industry Corporation, sold about 2.44 million auto units in the first 11 months, up 54 percent year on year, while Sino-U.S. joint venture company Shanghai GM sold 627,495 units, up 50.5 percent.