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BEIJING, Jan. 1 (Xinhua) -- The public on Sunday strongly echoed Chinese President Hu Jintao's New Year address broadcast on Saturday, vowing to make great efforts for rejuvenation of the nation, a better future.In his speech titled "Jointly Improve World Peace and Development," Hu said that China will continue to develop friendly exchanges with other countries and positively participate in international cooperation on global issues.The country will continue to balance maintaining steady and relatively fast economic growth with adjusting its economic structures and managing inflation expectations, Hu said in the speech.PROUD Of COUNTRY'S ACHIEVEMENTS"We have been encouraged by President Hu's address, said Wang Laihua, head of the public opinions research institute of Tianjin Social Sciences Academy."His address summarized the achievements that we have made in the first year of the 12th Five-Year Plan, which raised people's expectation for prosperity, happiness," said Wang.Hu said in the address that in the face of complicated international situations and arduous tasks in maintaining domestic reform, development and stability in 2011, Chinese people united and continued to push forward the opening up and reform drive and the socialist modernization construction, while maintaining steady and relatively fast economic growth and making progress in building a well-off society in an all-around way.Zhu Jianfang, chief economist of CITIC Securities, said that the country's macroeconomic control has made positive achievements in the last year, as the prices of properties and commodity have been effectively controlled."We feel reassured after hearing Hu's speech," said Wen Jun, who has come to south China's Guangzhou for business from Hong Kong for 16 years, referring to Hu's speech saying that China will stick to the guidelines of "one country, two systems," "Hong Kong people governing Hong Kong," "Macao people governing Macao," and a high degree of autonomy in maintaining the long-term prosperity and stability of Hong Kong and Macao.

SAN FRANCISCO, Nov. 17 (Xinhua) -- Online retail giant Amazon is working on a smartphone scheduled to be released in the fourth quarter of 2012, U.S. media reported Thursday.A note from Citigroup analyst Mark Mahaney obtained by technology news site All Things Digital said that based on the supply chain checks in Asia, Amazon is believed to launch a smartphone in the fourth quarter of 2012.According to the note, Amazon is working with manufacturer Foxconn and the device will run Texas Instruments' OMAP 4 processor. The Kindle Fire, the latest tablet introduced by the e- commerce giant, also uses OMAP processor.The analyst said the smartphone will cost Amazon between 150 and 170 U.S. dollars to build and the company could sell the handset at or near its cost rather than a 30 percent gross margin like many other smartphone manufacturers usually do.The move is expected to further intensify Amazon's rivalry with Apple and Google after the e-commerce giant had made moves on some booming businesses like tablet computer and cloud-computing service.

BEIJING, Nov. 25 (Xinhua) -- The Ministry of Commerce (MOC) said Friday that it will start an investigation into the U.S. government's policy support and subsidies for its renewable energy sector over trade barrier concerns.The MOC will look into six renewable energy programs concerning wind, solar and hydroelectric energy in the states of Washington, Massachusetts, Ohio, New Jersey and California, the MOC said in a statement posted on its website.The investigation was applied for by the China Chamber of Commerce for Imports and Exports of Machinery and Electronic Products, as well as the new energy chamber of the All-China Federation of Industry and Commerce."The applicants argued that the U.S. government's policy support and subsidies for its renewable energy industry constitute a trade barrier, as they violate the rules of the World Trade Organization and have hindered and restricted the development of China's renewable energy sector," the statement said.The applicants requested the elimination of any negative influence from the U.S. government's policy support and subsidies in order to maintain a fair trade environment, according to the statement.The investigation will end before May 25, 2012, although it may be extended to August 25, 2012 under special circumstances, according to the statement.

BEIJING, Jan. 1 (Xinhua) -- State Grid Corporation of China (SGCC), the country's largest power supplier, said Sunday it has put to trial operation a cross-border electricity transmission project in northeastern Heilongjiang province to supply Chinese with Russia's electric power exports.The electric power SGCC purchased from Russia began reaching Chinese customers late Saturday night after the completion of the direct-current back-to-back networking substation, or called "the trans-Amur project" by Russians, SGCC said in a statement on its website.The trial operation will last 168 hours, SGCC said in the statement.With a transmission capacity of 750 mega-watts, the electricity transmission project is China's biggest cross-border power line, according to SGCC."The implementation of the project will gain experience for the expansion of Sino-Russian energy cooperation and help promote the economic development for both countries," SGCC said.The project is also part of the Sino-Russian energy and trade cooperation.Russian Deputy Energy Minister Andrei Shishkin said in June 2011 that the transmission project would increase Russia's power supply to five or six billion kilowatt hours of electricity to China and Russia intended to increase its electricity supply to China in the coming years.Russian companies plan export 60 billion kwh of electricity to China by 2020. Power plants will be built along its border with China to reduce power transmission losses and reduce transportation costs.Also on Sunday, an oil pipeline linking Russia's far east and northeast China witnessed its one year anniversary of operation, as operators announced an accumulated 15 million tonnes of oil had been transported into China in 2011.