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BEIJING, Dec. 9 (Xinhua) -- The Chinese government reiterated Wednesday that to spur "sustainable and fast consumer spending" will be a priority next year, as the world's third-largest economy seeks to break from dependence on export and government pump-priming to drive post-crisis growth. The government will continue to raise the earnings of the middle and low income groups to boost consumer spending, said a senior official with the nation's top economic planning body. The government will step up research on optimization the income distribution mechanism to improve residents' purchasing power, Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), made the remarks at a national meeting charting the ministry's work in 2010. The rare official stance on improving income distribution echoed the unanimous call from experts and the general public to bridge the yawning wealth gap between the rich and poor, which underlined the government's resolution to address the simmering social conflicts and the urgency to rebalance economic growth. Zhang said the government will exert more efforts to sort out problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability. In concrete, the government will raise the pensions for enterprise retirees and improve treatment for those who enjoy special care. Local education, cultural and health-care facilities will also receive greater subsidy for expansion. To revive the economic growth which lapsed to a decade low amid the global financial crisis, Chinese government unveiled a 4-trillion-yuan stimulus package, which was led by government investment, to counter falling exports, the driving force of the Chinese economy before the crisis took a toll. As a result, as the GDP growth accelerated to 8.9 percent in the third quarter, investment contributed 7.3 percentage points while consumption devoted 4 percentage points. "As the Chinese authorities have recognized that the rapid pace of recovery has exacerbated some of the economy structural imbalances, the authorities will focus on rebalancing growth, primarily by supporting consumption and private investment, with many consumer incentives to be carried out in 2010," said Jing Ulrich, managing director and chairman of China Equities and Commodities of J.P. Morgan. Also on Wednesday, the State Council, or cabinet, decided to renew the preferential policies introduced early this year to boost car and home appliance sales. "While investment growth should be managed at a reasonable pace, consumer spending should maintain sustainable and relatively fast expansion," Zhang said. As investment binge and runaway bank lending prompted fears for asset bubble, Zhang said the government will step up efforts to curb speculative property transaction, and provide more affordable housing to middle and low income families.
GUANGZHOU, Jan. 11 (Xinhua) -- China's railway authorities are gearing up for a real-name ticket selling system to stop ticket scalping during the upcoming Spring Festival traffic rush. The pilot system announced Friday requires passengers to show their ID cards or other identification documents when purchasing train tickets at 37 stations in the southern Guangdong and Hunan provinces, and also the southwestern province of Sichuan. Millions of migrant workers from inland provinces like Sichuan and Hunan work in Guangdong, known as China's "factory of the world." The system will take effect during the Spring Festival traffic peak season, from Jan. 30 to March 30. The Spring Festival, or China's Lunar New Year, falls on Feb. 14 this year. Passengers walk on the platform after their arrival in Hefei railway station in Hefei, capital of east China's Anhui Province, Jan. 3, 2010. The railway service in Hefei railway station faced passenger peak as the new year holiday came to an end China's Spring Festival transport is seen as the world's largest annual human migration as tens of millions of migrant workers return home, often their only chances for family gatherings. The National Development and Reform Commission forecast some 210 million train trips over the holiday period, a rise of 9.5 percent from a year earlier. China's transport authorities have long been fighting against scalpers, who were blamed for worsening the ticket shortage problem by stockpiling tickets and reselling them at higher prices. "I've been working in Guangzhou for years. During each Spring Festival, I had to pay scalplers almost double the price for a ticket back home," said a migrant worker from Hunan. "And the risk of buying fake tickets was always there," he said. Shi Yanhai, a migrant worker from Sichuan, said she hadn't been back home for five years because it was too hard to buy a train ticket during the traffic peak. "Hopefully I'll be able to buy a ticket this year after the real-name system takes effect," she said. Nearly 80 percent respondents believed that the new system would help stop ticket scalping and make tickets purchasing easier during the holiday, according to an online survey by sohu.com, one of China's major internet portals. Although welcomed by the majority, the new ticket selling system is faced with challenges. Some said the new rule might make train travel more complicated. "I now only need to tell the ticket seller the date and destination of my trip. But after the system is effective, I have to show my ID card. That will make the queue longer!" said Zuo Xiaoyan, a migrant worker from Hunan, when queuing at Guangzhou railw
BEIJING, Jan. 2 (Xinhua) -- China's National Audit Office (NAO)announced on Saturday that, in 2009, no serious violations were found in the management of reconstruction funds for regions hit by the 2008 Wenchuan earthquake. Auditors, however, did find some problems in the implementation of post-quake rebuilding plans, distribution of relief funds and management of reconstruction projects, said the NAO. The NAO has transfered one violation case to the procuratorial organ in 2009. Two people responsible for the violation were arrested and another 11 people were in custody. The NAO said it and its local offices have already released the auditing results to the public. Liu Jiayi, chief auditor of the NAO said earlier that they would, in 2010, continue to keep a close eye on the whole process of post-quake rebuilding.
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, Nov. 17 (Xinhua) -- Chinese President Hu Jintao said here Tuesday that China and the United States will start preparations as soon as possible for the second round of the China-U.S. Strategic and Economic Dialogue (S&ED) scheduled for next summer in Beijing. China and the United States will continue implementing the agreements reached at the first round of the dialogue last July in Washington, Hu said in remarks to reporters after talks with visiting U.S. President Barack Obama. The two leaders spoke positively during the talks of the importance of the strategic and economic dialogue mechanism in strengthening mutual trust and cooperation between the two nations, he said. Both leaders believed that close high-level contacts and other dialogues and consultations at various levels are essential to the development of bilateral relations, said the Chinese president. The two sides agreed to keep close communication through visits, phone calls, letters and meetings during multilateral events, Hu said.