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BEIJING, Sept. 7 -- Automobile sales in China may accelerate 28 percent from a year ago to reach 12 million vehicles this year and overtake the number of autos sold in the United States, according to a regulatory official.    The remark was made by Chen Bin, chief director of the industry coordination department of the National Development and Reform Commission, at a conference in Tianjin on Saturday.     In contrast, General Motors Co and Ford Motor Co forecast sales in US will be about 10.5 million units this year, Bloomberg News said.     Auto sales in China in the first half reached 6.09 million units, a rise of 17.7 percent from a year ago, according to the China Association of Automobile Manufacturers.     The government's stimulus measures have boosted the auto industry and demand which is set to stay robust, Chen said. The measures included a 50 percent cut in the purchase tax to 5 percent on vehicles equipped with engines of less than 1.6 liters.

PHUKET, Thailand, July 22 (Xinhua) -- Chinese Foreign Minister Yang Jiechi underlined here Wednesday the importance of tapping new areas of economic growth so as to enhance cooperation between China and the Association of Southeast Asia Nations (ASEAN).     Yang noted that one area of development is to implement plans to enhance agricultural productivity by drawing on advanced technology and to accelerate the cooperation on new and renewable energies. The ASEAN-China Foreign Ministers' Meeting is held in Phuket, Thailand, on July 22, 2009."We have maintained high-level exchanges, enhanced political mutual trust, shared development experience and strengthened confidence in cooperation," Yang said at the China-ASEAN Foreign Ministers' Meeting on Wednesday afternoon.     China and ASEAN have completed negotiations on the China-ASEAN Investment Agreement, paving the way for the full establishment of the China-ASEAN Free Trade Area (CAFTA) in 2010.     The ASEAN on Monday appreciated China's active role in developing transportation infrastructure between the two sides and welcomed the establishment of the 10 billion U.S. dollar fund for bilateral investment cooperation.     In April, Chinese Premier Wen Jiabao said that China has decided to set up a 10 billion U.S. dollar "China-ASEAN Fund on Investment Cooperation" to support infrastructural development in the region. 

BEIJING, Aug. 20 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), the world's biggest lender by market value, posted a profit after tax of 66.7 billion yuan (9.77 billion U.S. dollars) in the first half of this year, up 2.8 percent over the same period last year.     The increase was mainly attributed to gains on incomes from the bank's intermediate business, including investment banking business and fund dealing commission, which grew 17 percent from ayear earlier to stand at 28.3 billion yuan, according to the bank's half-year report released Thursday.     Outstanding loans amounted to 5.44 trillion yuan by the end of June, jumping 18.9 percent from the beginning of this year in response to the country's economic stimulus plan.     The non-performing rate was 1.81 percent by June, 0.48 percentage points lower than at the beginning of 2009, as outstanding bad loans decreased 5.8 billion yuan after the bank intensified risks control.     At the end of June 2009, the bank's deposits increased 1.69 trillion yuan from the beginning of the year, leaving its outstanding deposits exceeding 10 trillion yuan.     The total assets of ICBC stood at 11.4 trillion yuan by the end of June, up 17.2 percent from the end of last year.     Earnings per share for the bank amounted to 0.2 yuan and the bank's stock advanced 3.26 percent to end at 4.75 yuan in Shanghai Stock Exchange Thursday. ICBC was simultaneously listed in Shanghai and Hong Kong in October 2006.

BEIJING, July 28 (Xinhua) -- China will cut gasoline and diesel prices from Wednesday by 220 yuan (32.4 U.S. dollars) per ton, or by about 3 percent each, the National Development and Reform Commission (NDRC) announced Tuesday.     The retail price of gasoline will drop by about 0.16 yuan per liter, and that of diesel by about 0.19 yuan per liter, the commission said in a statement issued after a news briefing. A staff member works at a gas station in Hefei, capital of east China's Anhui Province, July 28, 2009The benchmark prices of gasoline would be reduced to 6,910 yuan per tonne, and that of diesel to 6,170 yuan per ton. The price cut was in response to recent falls in global crude prices, which had dropped to 63.97 U.S. dollars per barrel from 67.8 U.S. dollars on June 30, according to the statement.     Global crude prices, despite recent rebounds, experienced consecutive falls in the first half of this month, said the statement.     The NDRC is basing its adjustment of domestic fuel prices on three kinds of global crude prices, but the commission did not reveal the structure of the three prices.     On Monday, light, sweet crude for September delivery rose 33 cents to settle at 68.38 U.S. dollars a barrel on the New York Mercantile Exchange. London Brent for September delivery rose 50 cents to 70.82 dollars a barrel on the ICE Futures exchange.     It is the sixth fuel price adjustment since the country adopted a new fuel pricing mechanism, which took effect on Jan. 1.     The Chinese government has lowered retail fuel prices in December, before the new mechanism became effective, and again in January. It also raised prices once in March and twice last month.     Under the pricing mechanism, the NDRC would consider changing benchmark retail prices of oil products when the international crude price rises or falls by a daily average of 4 percent over 20 days.     The two price rises last month were slight, said the statement, in an effort to quell doubts over frequent price hikes.     The country's latest fuel price hike on Jan. 30 sparked widespread debate as consumers grumbled that the record domestic prices were even higher than in the United States.     However, according to the NDRC statement, post-rise prices on June 30 translated into about 60 U.S. dollars per barrel, which was 7.8 U.S. dollars lower than the international price that day.     On June 1, post-rise prices were equal to about 50 U.S. dollars a barrel, 7.6 U.S. dollars lower than the global crude price.     The NDRC raised pump prices of gasoline and diesel by 400 yuan per ton, or 7 percent and 8 percent, respectively, from June 1, and again by 600 yuan per tonne, or 9 and 10 percent, respectively, from June 30.     Such controlled rises were meant to ease the burden of downstream industries so as to help fuel a recovery in the economy, and also to cushion the negative effect of irrational rises in global crude prices, such as raises in investment of speculative capital, according to the statement.     The commission would continue to adjust domestic fuel prices "at an appropriate time", and take into account of changes in global crude prices, domestic economic situation, and demand and supply on the domestic market, said the statement. 

来源：资阳报