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BEIJING, May 7 (Xinhua) -- China's policy of actively attracting foreign investment will not change, said vice minister of commerce Ma Xiuhong Friday.The Ministry of Commerce will keep working to maintain a good investment environment for foreign companies, said Ma during a discussion with multinational firms."The ministry will strengthen its communication with multinational corporations and foreign enterprises," she said.China could provide new opportunities for foreign investors as the country is in a process of modernization, urbanization and transformation of its economic development pattern, said Ma.She hoped that while achieving their own development goals, foreign enterprises could play a larger role in China's pursuit of scientific innovation, industrial upgrading, and more balanced regional economic development.Representatives from 64 multinational corporations and four foreign chambers of commerce participated in the discussion. They were joined by officials from a number of Chinese government departments, including the Ministry of Finance and Ministry of Industry and Information.Foreign direct investment to China increased 7.7 percent year on year to 23.44 billion U.S. dollars in the first quarter.
CHENGDU, May 24 (Xinhua) -- Top legislator Wu Bangguo has told authorities in Sichuan Province that post-quake reconstruction should continue to be the top priority.Wu, chairman of the National People's Congress Standing Committee, made the remarks when visiting the quake zone in southwest China from May 20 to 24. The 8-magnitude quake on May 12, 2008, has left more than 80,000 people dead or missing."Restoration and reconstruction in the quake zone must continue to be on top of Sichuan's economic and social development agenda," Wu said.Wu Bangguo (L), Chairman of the National People's Congress (NPC) Standing Committee, visits local people of Qiang ethnic group in Dongjienao village of Wenchuan County of southwest China's Sichuan Province during an inspection tour of the quake-hit areas in Sichuan, May 21, 2010.He said efforts should be made to build the quake zone into a new economic growth engine, as well as a model of the changing development pattern and model for low-carbon usage.Visiting rebuilt communities, schools and factories, Wu told local authorities to ensure the quality and safety of reconstruction projects and stressed the supervision of reconstruction funds.Permanent residential houses for more than 5.3 million households have been rebuilt since the quake, as well as 86 percent of the schools.He also said governments in the quake-hit areas should work closely with development partner provinces and cities, and accelerate industrial upgrading.

BEIJING, June 1 (Xinhua) -- China has promising growth prospects and should not be blamed for world imbalances, says Danny Quah, a renowned British economist."Emergency financing that was placed in the Chinese economy to counter the downturn from the 2008 global financial crisis was the right thing...The imbalances is a global problem, not a China problem," said Quah, a professor at the London School of Economics and Political Science.China did the right thing in infusing its economy with fiscal stimulus, Quah said in a recent interview with Xinhua.He also declined to describe the ballooning real estate prices as a bubble, pointing out "the strong fundamentals" of China's economy.He said the expansion of China's housing construction will be proved useful eventually, given the fact that "China is still engaging in the task of moving hundreds of millions of people from rural areas to urban China to continue to power its manufacturing and industrial progress.""So I would not describe it as a collapse of real estate bubble, we can look forward to a rationalization of housing and real estate prices," Quah said. "The improvement and expansion of housing stock will play an important role in continuing to move the Chinese economy forward.""I think Chinese fundamentals will continue to be strong. And a little bit of high inflation, as long as it doesn't break out into some kind of runaway high inflation, is probably no bad thing," he said. "We will get it under control again as the Chinese government did previously."On allegations that China deliberately keeps its currency RMB weak to obtain unfair advantages in trade with countries like the United States, Quah said people who draw such a false conclusion are misguided."The United States is running a trade deficit not just against China. It is running a trade deficit against almost 100 other countries," he said. "China is not unique in how it is exporting more to the United States than it's importing."The U.S. government was beginning to run a large trade deficit long before China's trade surpluses started grow, he added."If you take the ratio of China's bilateral trade surplus against the U.S. as a fraction of the U.S.' overall bilateral trade deficit against all of the countries, it has remained constant over the last 15, 20 years," Quah said.
BEIJING, June 1 (Xinhua) -- China Tuesday released details of its green-car subsidy program designed to boost the nation's auto industry and cut vehicle emissions.Through the program, subsidies of up to 60,000 yuan (8,784 U.S. dollars) will be given to buyers of pure electric vehicles in the five cities chosen for the pilot program, the Ministry of Finance said in a statement on its website.Buyers of plug-in hybrid cars will receive up to 50,000 yuan in subsidies.The cities chosen for the pilot program are Shanghai, Changchun, Shenzhen, Hangzhou and Hefei.China is the world's largest auto market.
来源:资阳报