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BEIJING, Dec. 12 (Xinhua) -- China should take more forward looking and preemptive measures to fight inflation expectations following this year's credit boom and runaway property prices, said a report released by a leading Chinese bank. Bank loans should be extended at a more reasonable pace with improved structures next year and policy fine-tuning is necessary, the Bank of Communications has said in a report released by its financial research center. The government should maintain the continuity and stability of its monetary policy and meanwhile be more targeted and flexible, it said. The report noted an over brisk equity and property market are always prelude of inflation. Money flow should be regulated to prevent asset bubbles. It also suggested government increase supply of land resources and affordable housing and crack down on land enclosure to curb skyrocketing property prices which gained the most in 14 months in November. CPI, the main gauge of inflation, jumped 0.6 percent in November from a year ago, the first monthly growth since January, because of lower statistical bases and rising food prices. The producer price index (PPI), a major measure of inflation at the wholesale level, declined 2.1 percent in November from a year earlier. The report expected PPI to end monthly drop in December, and the annual CPI decline to narrow to 0.8 percent. Hyperinflation is unlikely and CPI is predicted to rise four percent next year, it said.
TAICHUNG, Dec. 23 (Xinhua) -- Letting in more mainland investors again hit the agenda in Taiwan as negotiators from two sides discussed mainland investment with local business people Wednesday. At the symposium, Chen Yunlin, president of the mainland's Association for Relations Across the Taiwan Straits (ARATS), suggested Taiwan should not be "afraid" of competitors. When the mainland began to open up, the enterprises and industries also worried that they would be beaten by overseas competitors, but 30 years after, they not only survived but also became stronger, Chen said. Chen Yunlin, president of the Chinese mainland's Association for Relations Across the Taiwan Straits (ARATS), speaks on a symposium on the investment of Chinese mainland to Taiwan, in Taichung of southeast China's Taiwan, Dec. 23, 2009. "High liquidity of capital, people, resources and knowledge across the Taiwan Strait will bring prosperity to both sides," he said. "The mainland's advantage in manufacturing and Taiwan's leading marketing will supplement each other. Thus, the two can form a bigger economic entity in face of global competition." Taiwan's Straits Exchange Foundation (SEF) Chairman Chiang Pin-kun echoed Chen's remarks. Chen Yunlin, president of the Chinese mainland's Association for Relations Across the Taiwan Straits (ARATS), shakes hands with Chairman of Taiwan's Straits Exchange Foundation (SEF) Chiang Pin-kung on a symposium on the investment of Chinese mainland to Taiwan, in Taichung of southeast China's Taiwan, Dec. 23, 2009. "(The mainland's) investment will bring more employment and boost economic growth, which will benefit both sides," Chiang said. He admitted that not many mainland investors had entered Taiwan since the island lifted the ban in June, mainly because only a limited number of sectors were opened to them. Another reason was that mainland investors were not yet familiar with the local market and business practice, Chiang said. By the end of November, the Taiwan authorities approved 15 investment plans from the mainland, totalling 5.82 million U.S. dollars. "I hope the policies can be clearer, the procedures simpler and more sectors are opened to us," said Wang Jing, president of the Newland Group, a Fujian-based IT firm with a project in Taiwan. Currently, mainland investment can go to the sectors of textile, car making, home appliance, retailing and wholesale of consumer products, air and shipping service and infrastructure for public use (not including construction contractors). Mainland companies have to get approval from Taiwan authorities under strict regulations and the conditions are also restrictive in those accessible sectors, Wang said. "The restrictions will prevent mainland companies from enjoying fair competition." She cited the complicated procedure that mainland businessmen had to undergo to travel to Taiwan. "We have invested in an IT firm in Taiwan. Research work requires cooperation between staff on both sides and they have to travel a lot across the Strait. When there is an emergency, our mainland staff always could not go to Taiwan promptly," she said. "In a world of tough competition, we should not sacrifice efficiency." Many mainland companies are interested in real estate development, finance and telecommunication that are still not on the list. Long Ge, vice president of Shanghai Xiandai Architectural Design Group, just finished a business tour in Taiwan. "We hope to set up an office in Taiwan in near future," Long said. His company hoped to launch real estate businesses, not only design but also construction and marketing, in Taiwan. "But we cannot if the restrictions remain there," he said.
BEIJING, Oct. 25 (Xinhua) -- Chinese Vice Premier Hui Liangyu has called for attention on the ageing problem, noting this is a major issue that concerns "people's livelihood and the nation's lasting peace and stability." Hui's call came several days ahead of the country's traditional "Senior Citizen's Day," or Double Ninth Festival, which falls on the ninth day of the ninth month in the lunar calendar, or Monday. Hui, also director of China National Working Commission on Ageing, said at a recent meeting on the aging problem held in Beijing that the elderly were "valuable wealth of the Party and the country," and researchers should provide solid scientific foundation for the government to make strategies for the well-being of the ageing population. Statistics from the commission show more than 8.3 percent of the 1.3-billion Chinese population are above 65, and in most cities, more than 50 percent of the elderly people live without the company of their children. Hui said efforts should be made to deal with new conditions concerning ageing, such as unbalanced distribution of the aged between urban and rural areas.
BEIJING, Nov. 17 (Xinhua) -- China and the United States underlined that each country and its people have the right to choose their own path, and agreed to hold the next round of human rights dialogue in Washington by the end of February 2010, said the China-U.S. joint statement issued Tuesday. According to the statement, the Chinese and U.S. sides agreed that all countries should respect each other's choice of a development model. "Both sides recognized that China and the United States have differences on the issue of human rights," said the statement, "Addressing these differences in the spirit of equality and mutual respect, as well as promoting and protecting human rights consistent with international human rights instruments, the two sides agreed to hold the next round of the official human rights dialogue in Washington D.C. by the end of February 2010." The two sides agreed that promoting cooperation in the field of law and exchanges on the rule of law serves the interests and needs of the citizens and governments of both countries, and decided to convene the China-U.S. Legal Experts Dialogue at an early date.
BEIJING, Dec. 26 (Xinhua) -- Top Chinese political advisor Jia Qinglin has called for adequate preparation for next year's annual session of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). A meeting of the CPPCC National Committee's chairperson and vice chairpersons decided Saturday to open the annual full session of the top political advisory body on March 3 next year. Jia, chairman of the CPPCC National Committee, said the session, together with the annual full meeting of the National People's Congress, is of great significance in deepening reform, tackling the global financial crisis, advancing social and economic development, and ensuring stability next year. Zhao Qizheng, chairman of the Foreign Affairs Committee of the CPPCC National Committee, was appointed the spokesman for the annual session in March. Jia Qinglin (C), member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), presides over the 21st Chairpersons' Meeting of the 11th CPPCC National Committee in Beijing, capital of China, on Dec. 25, 2009