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CHONGQING, Dec. 16 (Xinhua) -- China has approved the establishment of a bonded area in southwestern Chongqing Municipality in an effort to boost the opening and development of central and western regions. Chongqing Vice Mayor Huang Qifan said Tuesday at a press conference here that the first inland bonded area had been approved by the State Council, or the Cabinet. The 8.37-sq km Cuntan Bonded Area centers both the Cuntan Harbor and the Jiangbei International Airport. The bonded area will be completed in 2015. "The Cuntan Bonded Area will be built into a multi-functional area with most advanced logistics and preferential policies," Huang said. "It will also become an accelerator for the opening upof central and eastern inland cities." The Chongqing Bonded Area Development Company and the area's administration commission will start operation on Thursday. Huang did not reveal the investment for the bonded area or its operation time. Bao Zichuan, chairman of the company, said the bonded area will focus on harbor business, air transport, foreign trade, export-oriented processing and commodity displays. Enterprises in the bonded area will enjoy such preferential policies as tax rebates for exports and free tax for trading within the area. So far, China has established ten such free trade zones in the coastal areas from north to south.
BEIJING, Dec. 19 (Xinhua) -- Chinese Vice President Xi Jinping said here Friday that universities should pay more attention to the Communist Party of China (CPC) organ development on campus. Party organs on campus are an important mechanism to unite and organize teachers and students, Xi said at a meeting here on CPC organ development on campus. It will also help the universities to improve students' virtue and foster talents that fit the need of the country, he added. Xi appreciated the great progress Chinese universities have made in developing CPC organs on campuses in the past three decades. The CPC work shall always serve the reform and development of universities and personal development of students, he said. It should aim to maintain stability on campus and adapt to changing realities, he said. Universities should try to recruit high-quality grassroots Party workers, who love and are good at this work, and create a favorable working and living environment for them, he said. When it comes to the university administration, Xi said, college heads should not only have outstanding academic performance but also stand out in personal virtue and capability to manage people.
BEIJING, Dec. 17 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday called for a healthy development of the country's real estate market at an executive meeting of the State Council, or the Cabinet. A document released after the meeting said the recently-adopted domestic demand expansion and economic stimulus policies had positive impact on the property market. Trading volumes in some cities were picking up. At present, efforts should be made to keep market-oriented in developing real estate, step up building of houses for low-income families, encourage housing transactions and maintain a reasonable scale of real estate development. The document said governments would spend three years to build houses for 7.5 million low-income families in urban areas and 2.4 million households in shanty towns in forests, reclamation areas and coal mines. They would also continue renovating aged buildings in rural areas. The central government would keep financing these building and renovating projects, offer higher subsidies for the less developed central and western regions and carry out pilot projects in some area to test the feasibility of supporting construction with idle funds in local housing provident fund accounts. In a bid to encourage transaction, second-home buyers, with per-capita room-at-home lower than the local average, would be allowed to enjoy favorable policies for first-time house buyers. Tax on house transactions would also be reduced next year. Homeowners who had lived-in for more than two years would be exempted from a transaction tax, which had been levied on houses lived in for less than five years. For those who had lived-in for less than two years, the base of tax would be transaction price minus the original price. Banks should lend to developers of low-price apartments, especially those under construction, and offer services for mergers by credible developers. The central government demanded local authorities keep a close eye on the real estate market, find new problems in time and step up supervision on use of subsidies and quality of construction projects.
BEIJING, Jan. 5 (Xinhua) -- Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China's Ministry of Commerce (MOC) warned Monday. "The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise," said the ministry in a notice. It attributed the phenomenon to the impact of the deepening global financial crisis. The MOC urged local governments, guilds and overseas Chinese businesses to more closely monitor the credit of foreign importers. Priority should be placed on tracking the credit ratings of foreign lenders, it said. The ministry also called on local governments to support the development of export credit insurance and encourage exporters to carry such insurance by reducing premiums. From January to November last year, China Export & Credit Insurance Corporation (SINOSURE) provided 56.5 billion U.S. dollars of guarantee for exporters against credit risks such as payment default. That is 63.6 percent higher than the same period a year earlier. The reason for the increase is that more exporters sought insurance, company figures show. SINOSURE is China's only policy insurance company undertaking export credit insurance. In that period, SINOSURE paid 210 million U.S. dollars of indemnities, up 174.5 percent from the same period of 2007. In December, the insurer reduced credit ratings for a record 48countries, including the United States. A total of 191 countries were reappraised in December.
KUWAIT CITY, Dec. 27 (Xinhua) -- At the invitation of Kuwaiti First Deputy Prime Minister and Minister of Defense Sheikh Jaber Mubarak Al-Hamad Al-Sabah, Chinese Vice Premier Li Keqiang arrived here Saturday evening on a four-day official visit. Li said in a statement delivered at the airport that he is delighted to pay an official visit to Kuwait, noting that the relationship between China and Kuwait, especially in the fields of trade, energy, finance and culture, has witnessed remarkable growth since the two forged diplomatic relations in 1971. Visiting Chinese Vice Premier Li Keqiang(L in front) walks out of the Kuwaiti International Airport with a welcome delegation headed by Kuwaiti First Deputy Prime Minister and Minister of Defense Sheikh Jaber Mubarak Al-Hamad Al-Sabah(R in front) in Kuwait, Dec. 27, 2008 "China highly values the friendship with Kuwait and will make concerted efforts with the Kuwaiti side to step up the bilateral cooperation to a higher level," Li said. Kuwait is the final leg of Li's 11-day overseas visit, his first foreign visit since he took office as vice premier in March, which has already taken him to Indonesia and Egypt. According to official statistics, China and Kuwait renewed their record of bilateral trade volume in 2007 with 3.6 billion U.S. dollars, a 30 percent growth compared with that of 2006. China imported 2.3 billion dollars worth of goods from Kuwait in 2007, with 90 percent of oil products, while only exporting 1.3billion dollars of goods to Kuwait.