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BEIJING, Jan. 25 (Xinhua) -- In December 2008, China's light industry enjoyed an output growth of 8.1 percent year-on-year, which sharply outpaced the 4.7 percent growth of heavy industry. The latest statistics from the National Bureau of Statistics show that the output of state-owned enterprises suffered a decline. In December, state-owned and state-controlled enterprises witnessed an output drop of 0.6 percent, while that of private enterprises went up 16.3 percent, overseas-funded enterprises was up 0.3 percent. According to the statistics, in December the country produced 219.9 million tonnes of coal, down 1.3 percent year-on-year; the output of crude oil was 15.7 million tonnes, up 0.4 percent; crude steel fell 10.5 percent to 37.79 million tonnes; and motor vehicles dropped 18.9 percent to 685,700 sets. In December, China's industrial output grew 5.7 percent, or 0.3percentage points faster than the previous month.
BEIJING, Dec. 19 (Xinhua) -- Taxi driver Qu waited patiently in the December night chill as a gas station boy changed the price tag, which indicated China's unified fuel price cut effective early Friday morning. The country slashed the benchmark prices for fuel from 6.37 yuan (0.93 U.S. dollar) per litre to 5.46 yuan starting Friday morning, which was earlier than the long-awaited government scheme on fuel taxation and pricing slated for Jan. 1 next year. "The price cut of 0.91 yuan per litre means a monthly saving of900 yuan for a taxi driver," said Qu, waiting in Thursday's midnight dark for the clock to turn zero. The government distributed the news of the price cut via all major media and short messages to cell phone users on Thursday evening. Nevertheless, there was no queuing-up at the gas station in the early morning hour. The station boy said long queues appeared in previous price rises this year. The National Development and Reform Commission (NDRC) made it clear Thursday that domestic fuel prices would remain unchanged on Jan. 1, 2009, when the fuel tax is expected to kick in. This round of price cut was China's revamp of its oil pricing system to let it pegged with the global market. "The pricing would reflect the global market supply of oil resources and let the market play a fundamental role," said Zhao Jiarong, an official with the NDRC. "The latest cut would narrow the gap between wholesale and retail prices. Consumers would benefit from it," said Xu Kunlin, another NDRC official. Zhou Dadi, an energy researcher, said his calculation showed the factory gate fuel price would drop by 2,000 yuan per tonne and the pre-tax retail price would be down by 1.7 yuan per liter after the price cut. A fuel trader said there might be a hoard purchase before the fuel taxation effective on Jan. 1 next year. Bai Chongen, an economist from Tsinghua University, said the post-tax retail price would remain unchanged next year as fuel producers would lower the factory gate price again to offset the tax. But for fuel producers, the price cut reduced their sales profit. "It will have a short-term impact on our profit, but we expect the global prices to rise in future. This will secure the long-term profit," said Shu Zhaoxia, a researcher with Sinopec, Asia's largest refiner. Experts said the country's first fuel price cut in almost two years would help revitalize companies and factories eking out in a slowed-down economy. Among industry beneficiaries, the aviation sector would see an immediate effect because the benchmark prices for jet fuel was slashed by a bigger margin of more than 30 percent, or 2,400 yuan, to 5,050 yuan per tonne. An Air China spokesman said the cut would definitely boost the aviation industry as the drop was beyond airliners' expectation. A Guojin Securities analyst said based on the forecast 2009 jet fuel consumption of 11.47 million tonnes, the price cut would lead to a cost reduction of 27.5 billion yuan for the country's aviation industry.
BEIJING, Oct. 20 (Xinhua) -- Chinese President Hu Jintao has urged to implement the responsibility system which was designed 10 years ago for the building of a clean government and improvement of the Communist Party of China's (CPC) work style. In his instructions for a teleconference held here on Monday to mark the tenth anniversary of the issuance of the responsibility system by the CPC Central Committee and the State Council, Hu, also the General Secretary of the CPC Central Committee, said the responsibility system is fundamental for further pushing forward the building of a clean government, improvement of the Party's work style and the anti-corruption drive. Hu said that the Party committees and governments at all levels had made remarkable achievements in improving the Party's work style, building a clean government and the anti-corruption drive in the past 10 years, but must be aware of the problems still existing. He urged Party committees and governments of all levels to study and implement the essence of the 17th Party Congress and make strenuous efforts to gear up the improvement of the Party's work style, the building of a clean government and the anti-corruption drive. Hu called for seriously carrying out the responsibility system, making substantial efforts to push forward the building of a mechanism for punishing and preventing corruption, further enhancing the ability of resolving the outstanding problems in improving the Party's work style and building a clean government so as to provide a favorable political guarantee for promoting scientific development and social harmony. In addition to studying Hu's instructions, the participants in the teleconference also shared their experiences on the anti-corruption drive over the past 10 years. Addressing the teleconference, He Guoqiang, member of the Standing Committee of the CPC Central Committee Political Bureau and Secretary of the CPC Central Commission for Discipline Inspection, talked about how to implement the responsibility system by strengthening supervision and check on the implementation of the Party lines and policies so as to ensure the smooth implementation of Party's orders.
LIMA, Nov. 20 (Xinhua) -- Foreign and trade ministers from the 21 member economies of the Asia Pacific Economic Cooperation (APEC) forum on Thursday called for joint efforts to overcome the ongoing global financial crisis and revive the Doha Round trade negotiations. "APEC economies are committed to implementing all necessary measures to bolster the real economy and boost investment and consumption levels in the region," said a joint statement released by the ministers after a two-day Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in the Peruvian capital. "Ensuring a rapid, coordinated and effective response to the current global financial crisis is the highest priority for APEC economies and will be the focus of attention" when APEC leaders meet on the weekend, said the statement. The APEC ministers met in Peru during the "most difficult set of economic conditions" since APEC was created in 1989, it said. Peruvian Foreign Minister Jose Garcia Belunde, who chaired the meeting, said the ministers have reaffirmed their opposition to trade and investment barriers. The ministers have agreed to continue to "strengthen consumption level in the region and expand trade activities," he said. "We've decided to continue supporting the multilateral trade system, including the World Trade Organization, and to support a conclusion to the Doha trade round," he said. Australian Trade Minister Simon Crean said the APEC ministers not only have reached an consensus to push forward the Doha talks but also agreed on the direction to conclude it. Crean called on the APEC leaders to make commitment based on the action plan adopted by the G-20 countries in Washington earlier this month, noting that nine of the APEC members participated in the Washington meeting. "Commitement at various levels" are required to deal with the financial crisis, he said. U.S. Trade Minister Susan Schwab said world leaders should learn from the Great Depression in the 1930s and prevent a "prolonged and deepening" crisis from taking place. Schwab noted that the G-20 nations had made it clear that trade barriers and protectionism will not be an option during the crisis and it is vital to conclude the Doha talks as soon as possible. The world economies should "use trade in a positive way" to avert the crisis, she said. "We will do everything we can" to push forward the Doha talks, she added. Singapore Trade and Industry Minister Lim Hng Kiang said APEC has yet to confront many challenges and the financial crisis is likely to top APEC's agenda next year when Singpore takes over as the chair. The 20th APEC Ministerial Meeting started on Wednesday to make final preparations for the APEC Leaders' Meeting this weekend.
FUZHOU, Nov. 21 (Xinhua) -- Construction on a new nuclear power plant started Friday in southeast China's Fujian Province. The Fuqing Nuclear Power Plant, located in the coastal city of Fuqing, requires an investment of around 100 billion yuan (14.6 billion U.S. dollars). It will have six units that generate millions of kilowatts each. During the first phase of the project, two units will be built and put into operation in 2013 and 2014. They will use advanced second-generation pressurized water reactor technology. The two units are expected to generate more than 14 billion kilowatts of electricity annually, most of which would be consumed within the province. Chinese Vice Premier Li Keqiang (C) shakes hands with project representatives during the inauguration ceremony for the construction of the Fuqing Nuclear Power Plant in southeast China's Fujian Province Nov. 21, 2008 "Nuclear power is a kind of clean, efficient and reliable new energy," said Vice Premier Li Keqiang during the plant's inauguration ceremony. "To develop nuclear power is important for improving the country's energy structure and security." China National Nuclear Corporation, Fujian company of China Huadian Corporation and the government-funded Fujian Investment & Development Co. Ltd. will jointly build and operate the plant. The three companies have a stake of 51 percent, 39 percent and 10 percent, respectively, in the new plant. An unidentified local government official said three billion yuan has already been spent since preparation work for the project started in 2007.Another five billion was planned for 2009. The project is expected to create more than 10,000 jobs. Currently, China has 11 nuclear power reactors in operation. All reactors employ second-generation nuclear power technologies. The country plans to have 40-million-kilowatts of installed capacity in nuclear power by 2020, accounting for four percent of China's energy production. Right now, installed capacity of nuclear power is only about nine million kilowatts, or about two percent of the total power the country produces.