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BEIJING, March 14 (Xinhua) -- China will foster a number of globally competitive logistics companies by 2011, said a stimulus plan of the country's logistics industry released on the government website on Friday. All departments and local governments are urged to make efforts to achieve the goal, according to the plan, issued by the State Council, or the cabinet. It said local authorities should help logistics companies solve problems in their development, realize a 10-percent annual growth in their output and lower the proportion of logistics expenses in the country's GDP. The cabinet said in a notice that the country's logistics industry was affected by the unfolding global financial crisis. The stimulus plan was designated not only to promote its industrial upgrade but support development of other industries, expand consumption and increase employment. As a composite service industry, logistics, comprising transport, storage, information industries and freight agencies, is an important part of national economy, said the plan. The cabinet has rolled out support plans for ten industries including steel, auto and textile, targeting industrial growth, as well as restructuring and upgrading.
BEIJING, April 5 (Xinhua) -- China will strengthen oversight of listed securities companies by promoting information transparency. On Saturday, China Securities Regulatory Commission (CSRC) introduced a regulation which said securities companies should remind investors about potential risks when shareholders decide to launch a new business or introduce an innovative business. The annual report and half-year report by listed securities companies should include risk assessment conditions, as well as reasons for risk and probable effects. Photo taken on April 1, 2009 shows a woman smiles before a stock price electronic board in Beijing. China's benchmark composite stock index on the Shanghai Stock Exchange closed at 2408 points on Tuesday In addition to the annual operation report, companies were asked to deliver a supervision and monitoring annual report which includes audit and accounting information. If a company or high-rank official is involved with serious illegal activity, and that results in worsening financial condition, the company should inform all shareholders. The CSRC said the regulation, which was made on the basis of the Securities Law, took effect April 3.
LONDON, April 3 (Xinhua) -- As the curtain dropped on the G20 London summit, Chinese Commerce Minister Chen Deming on Friday reiterated China's opposition to protectionism and voiced support for cooperation. "This summit has yielded a series of positive and pragmatic results for the international society to jointly tackle the current financial crisis," Chen said. He said it included reaching broad consensus on stabilizing international financial markets, speeding up reform of the international financial system, actively pushing forward the Doha round talks, and opposing trade protectionism. Chen said history and experiences have proved that protectionism will only drag the world economy into deeper recession. As the crisis is worsening, people have increasingly realized the necessity and urgency to reject protectionism, he said. Chinese President Hu Jintao pointed out at the G20 summit that facing the impact of the international financial crisis, China will continue to stick to its opening-up and reform policy, and unswervingly adopt the mutually-beneficial and win-win strategy. China will not turn to protectionism just because it is encountering some temporary difficulties during the process of economic development, he said. What the world needs now, Chen said, is to adopt economic stimulus plans to jointly overcome the difficulties and to recover economies. At this critical time, people must be especially cautious about protectionism, preventing it from sabotaging all the efforts that the world has done so far, he said. "China will act responsibly, seriously implement the agreements reached at the G20 summit, in efforts to push forward the world economy, as well promote the development of international trade," Chen said. He proposed that the international community jointly maintain a fair and open international trade environment, protect the authority and seriousness of multilateral trade regulations, actively push forward the Doha round talks, and jointly resist protectionism. Chen noted that despite all the anti-protectionism claims by many countries, protectionist measures are in fact making inroads since the outbreak of the financial crisis. China supports the G20 agreement to extend the ban on protectionism until the end of 2010, however, it remains difficult to define protectionism and unreasonable trade restriction measures, Chen said. All measures not allowed by the WTO are considered protectionist, and therefore should not be allowed to be implemented, he said. Chen also raised concerns over the possible misuse of some measures permitted by the WTO, such as trade subsidy, and urged restraint. The WTO members should try not to use, or use with discretion protectionist policies, so as to create a sound climate for promoting free trade, he said. Currently, the WTO has established a monitoring mechanism, with periodical reports on its members' actions, a move conducive to curbing protectionism, Chen said. Protectionism is on the rise since the crisis, but it still falls short of being rampant, which indicates the global multilateral trade rules remain effective to some extent, he said. China supports the establishment of such a WTO supervision mechanism, he said. China has firmly reiterated its opposition to protectionism, Chen said, noting that China's measures taken since the crisis are considered positive by both WTO Director General Pascal Lamy and EU Trade Commissioner Catherine Ashton. China's economic stimulus measures complied with the WTO rules, he said. Chen also said the Doha round trade talks are of great significance in promoting the development of the multilateral trade system and a successful deal would strongly promote global economic growth. History over the past century has proved that trade grows faster than economy, and it is trade that pushes forward economic growth, he said. Chen urged flexibility by major countries to push forward the Doha negotiations. "With joint efforts by various parties, we remain optimistic about the outcome of the Doha round talks," he said.
BEIJING, Feb. 26 (Xinhua) -- Chinese authorities launched a website to handle public complaints regarding irregular practices during the selection and appointment of Party and government officials. The public is encouraged to log on to the website (www.12380.gov.cn), launched by the Organization Department of the Communist Party of China (CPC) Central Committee, to report offences. The site aims to improve public supervision and to ensure prompt detection and correction of offences involving official selection and appointment, the Organization Department said Thursday in a statement. Complaints could be filed in anonymity, but real names were preferred, said the website. It requires informants to report problems truthfully and warns that fabrication and false charges could lead to legal punishment. The website also said it mainly handles complaints about officials above the county level. To prevent malicious or repetitious reporting and junk mail, informants can only submit a maximum of five complaints from one computer in a single day. The Organization Department had already set up a report center for offences in official selection and appointment. In 2004, it opened an informant's hotline (12380).
NEW YORK, Feb. 13 (Xinhua) -- In her first major policy speech as U.S. secretary of state, Hillary Rodham Clinton on Friday attached great importance to developing stronger relations and having closer cooperation with Asian countries, in particular China. Addressing an audience at Asia Society New York Headquarters on the eve of her four-nation Asian trip scheduled to start on Sunday, the first foreign visit since she was sworn in on Jan. 21, Clinton said that Washington is committed to a new era of diplomacy and development in which Washington will use "smart power" to work with historic allies and emerging nations to find regional and global solutions to common global problems. "In making my first trip as secretary of state to Asia, I hope to signal that we need strong partners across the Pacific, just as we need strong partners across the Atlantic," she noted, calling Asia "a contributor to global culture, a global economic power, and a region of vital importance to the United States today and into our future." The secretary of state's destinations include Japan, Indonesia, the Republic of Korea and China. The United States and the Asian countries need to support and help each other in dealing with the gravest global threats today, which include financial instability and economic dislocation, terrorism and weapons of mass destruction, food security and health emergencies, climate change and energy vulnerability, stateless criminal cartels and human exploitation, said Clinton. While giving the audience a brief rundown of the key issues she will be addressing during her Asian tour next week, Clinton devoted much of the time to the U.S.-China relations. The United States doesn't see China on the rise as an adversary, said Clinton. To the contrary, the Obama administration believes that the United States and China can "benefit from and contribute to each other's successes." Washington also believes it is "in our interest" to work harder to build on areas of common concerns and shared opportunities with China, she added. "You know very well how important China is and how essential it is that we have a positive cooperative relationship," said the top U.S. diplomat. "It is vital to peace and prosperity not only in the Asia-Pacific region but worldwide." "Our mutual economic engagement with China was evident during the economic growth of the past two decades, it is even clearer now at economic hard times and in the array of global challenges we face from nuclear security to climate change to pandemic disease and so much else," she noted. "Even with our differences, the United States will remain committed to pursuing a positive relationship with China, one that we believe is essential to America's future peace, progress and prosperity," she stressed. Citing an ancient Chinese saying that "When you are in a common boat, you need to cross the river peacefully together," Clinton said that she believes the ancient Chinese wisdom must continue to guide both countries today. The secretary of state announced that the two sides will resume mid-level military-to-military discussions later this month. "And we look forward to further improved relations across the Taiwan Strait," she added. She also revealed that during her stay in Beijing, she would discuss with the Chinese leaders on the structure of broadening dialogue between the two sides, on the basis of the Strategic Economic Dialogue from the previous administration. Speaking of her first stop in Japan, Clinton said that the United States' security alliance with Japan, which will be 50 years old next year, "has been and must remain unshakable." "We anticipate an even stronger partnership with Japan that helps preserve the peace and stability of Asia and increasingly focuses on global challenges ...," she added. The United States and Indonesia now "have an opportunity for stronger partnership in education, energy and food security," stated Clinton, adding that the two sides are committed to pursuing such a partnership with a concrete agenda during her visit to the Southeast Asian nation. Calling the Republic of Korea "one of our staunchest historic allies," Clinton said that the two countries are committed to expanding trade in a manner that benefits both, and "we will work together to that end." "So I will leave for Asia Sunday with a firm commitment to working very hard with our partners across the Pacific," she concluded in her nearly-half-hour speech. The secretary of state also took the opportunity to offer peace to the Democratic People's Republic of Korea (DPRK) in exchange for the latter's complete abandonment of its nuclear project. The Obama administration is committed to working through the six-party talks on the Korean Peninsula nuclear issue and normalizing relations with the DPRK, if the latter totally abandons its nuclear weapons program, she said. If the DPRK is prepared to "completely and verifiably" abandon its nuclear program, the Obama administration will be willing to normalize bilateral relations with the country, she noted, adding that Washington will also assist Pyongyang in meeting its energy and other economic needs if that happens. In her speech, Clinton also underlined Washington's endorsement of "open and fair trade," in an apparent attempt to soothe many countries' concerns that the ongoing global financial crisis may lead to a fresh round of trade protectionism, particularly in the developed countries. "(In the face of the financial crisis,) we cannot respond with a race to erect trade and other barriers. We must remain committed to a system of open and fair trade," she stated. The U.S. Congress' push for a "Buy America" provision in the massive economic stimulus package proposed by the Obama administration has recently invited concerns from major trading partners of the United States, including Europe, Canada and Japan.