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NEW YORK, Jan. 7 (Xinhua) -- Stopping importing from China may result in an increase in the U.S. trade imbalance, chief economist of the World Bank Justin Yifu Lin said during a speech here on Thursday.     Addressing the audience at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange, Lin said the imbalance between the United States and China actually "reflects some kind of specialization due to the state of development."     The type of products that China exported to the United States are labor-intensive living necessities that the United States will never produce anymore and has no competitive advantages, Lin said. Chief economist of the World Bank Justin Yifu Lin delivers a speech at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange in New York, the U.S., Jan. 7, 2009. He said stopping importing from China may result in an increase in the U.S. trade imbalance    "If China will not export those type of labor-intensive products, U.S. will have to import from other middle income or lower income countries," he added. "And very likely, the cost of importing from other countries will be higher."     Lin said U.S. companies always have a free choice to import from China or other countries, and they currently choose China is because the cost is lower.     "If U.S. has to switch the source of the import from another country, (U.S.) people will have to pay for them no matter how high the price is because that is a definite necessity," Lin said," that means most likely the trade imbalance in U.S. may increase."

BEIJING, Oct. 29 (Xinhua) -- Sino-U.S. ties have been warmed up for U.S. President Barack Obama's upcoming China visit by frequent contacts between high-level officials from both sides, Chinese experts said Thursday.     The 20th meeting of China-U.S. Joint Commission on Commerce and Trade (JCCT) was officially convened on Thursday morning in China's eastern city of Hangzhou.     This year's JCCT talks, highlighted by U.S. Commerce Secretary Gary Locke, Trade Representative Ron Kirk and Agriculture Secretary Tom Vilsack, were widely seen as part of preparations for the presidential summit next month.     "Today's JCCT meeting laid a solid groundwork and made full preparations for President Obama's visit in two weeks, which will help build the positive, cooperative and comprehensive China-U.S. relations toward the 21st century," China's Minister of Commerce Chen Deming said at the end of talks.     In the meantime, Xu Caihou, vice chairman of China's Central Military Commission, was paying his first visit to the United States under the Obama administration.     During his talks with U.S. Secretary of Defense Robert Gates, Xu and Gates explored ways to further military-to-military cooperation and reached agreement on seven points, which included Gates' visit to China in 2010 and mutual visits of warships.     The agreement on conducting joint maritime searches and rescue exercises has already had the embryonic form of crisis management mechanism, said Ding Xinghao, president of the Shanghai Association of American Studies.     During the 11-day visit, the Chinese general was also invited to visit some sensitive military sites, including the Strategic Command Headquarter, which was in charge of nuclear weapons and cyber war.     Xu's visits to the sensitive military sites showed the U.S. military's willingness to promote mutual trust with the Chinese military, said Fu Mengzi, a researcher with the China Institute of Contemporary International Relations.     Since the Obama administration took office, Sino-U.S. relations have witnessed a smooth transition and maintained a good momentum of development.     In June 2009, the defense ministries of China and the United States held the 10th defense consultation. In July, the two countries held their first round strategic and economic dialogue. In August, the two militaries held the maritime military security consultation.     In addition, Obama issued a "presidential determination" On Sept. 29 that shifted authority for approving sales to China of missile and space technology from the White House to the Commerce Department, a move viewed by experts as Washington's delivery of goodwill to Beijing.     It was also noteworthy that U.S. Deputy Secretary of State James B. Steinberg proposed a new term to describe U.S.-China relations in his keynote address entitled "Administration's Vision of the U.S.-China Relationship" at the Center for a New American Security in Washington on Sept. 24.     "Strategic reassurance", as Steinberg noted, means that "just as we and our allies must make clear that we are prepared to welcome China's 'arrival'...China must reassure the rest of the world that its development and growing global role will not come at the expense of security and well-being of others."     This term captured the crux of Sino-U.S. ties, said Niu Xinchun, vice director of the Center for American Studies at the China Institute of Contemporary International Relations. "It is aimed at realizing the strategic mutual trust between the two countries."     The foundation for the sustained and stable development of bilateral ties lies in mutual trust, he said, but trade frictions between the two nations show that mutual trust still needs to be strengthened.     Obama announced in September to impose 35 percent punitive tariffs on all car and light truck tires from China for three years.     Just on Tuesday, the U.S. Department of Commerce announced preliminary determination that intended to impose a tariff up to 12 percent on the steel grafting and steel strand imported from China, valued 269 million U.S. dollars.     In addition, China and the United States still have differences on some issues concerning China's core interests, such as U.S. arms sales to Taiwan and Tibet-related issues.     Although both sides have the willingness to enhance mutual trust, it is still difficult for them to fulfill the goal, said Fu Mengzi, adding it needs sustained efforts from both sides.     "Sino-U.S. relations are now standing at a new historical starting point," said Chinese Vice Premier Wang Qishan at the opening ceremony of the 20th JCCT meeting. "President Obama's first China visit will surely provide new opportunities for bilateral cooperation."

BEIJING, Dec. 10 -- China will extend stimulus measures in the automobile industry for one more year, with small adjustments, to further support the world's biggest and fastest-growing auto market.     The government announced the decision Wednesday after an executive meeting of the State Council chaired by Premier Wen Jiabao.     The stimulus package, which was due to expire at the end of this month, includes a 50 percent cut in the 10 percent purchase tax for cars with an engine capacity of, or less than, 1.6 liters and subsidies for trade-in cars. It will now be extended to Dec 31, 2010.     However, the purchase tax for smaller cars will be lifted from the current 5 percent to 7.5 percent of the total vehicle price.  Buyers examining a small car in an auto market in Nanjing. Purchase tax for smaller cars will be levied at 7.5%    Furthermore, the government also decided to raise the subsidy for trade-in cars from between 3,000 and 6,000 yuan to between 5,000 yuan and 18,000 yuan per vehicle.     The stimulus package launched by the government in January helped China's automobile sales to exceed an expected 13 million units this year, making the country surpass the US as the world's biggest auto market.     "It's unusual that demand for automobiles in a country increases more than 4.5 million units within 12 months, and sales break the monthly record for seven months in a year," said Rao Da, secretary-general of China Passenger Car Association.     Statistics from the China Association of Automobile Manufacturers (CAAM) show that the smaller cars, with engine capacity of, or less than, 1.6 liters, contributed 85 percent of the sales increase in the domestic auto market. Most of the best-selling cars in China are smaller cars.     The association estimated that the stimulus measures boosted the sales of smaller cars by 2.6 million units this year.     Because of the favorable policy, sales of the battery and electric car pioneer BYD in the first 11 months surged 150.2 percent to 388,246 units. About two-thirds of the car sales were of the F3 model, a compact sedan that topped China's best-selling car list for seven months, with monthly sales surpassing 30,000 units, nearly double the figure for last year.     According to CAAM, China's auto production and sales almost doubled from figures a year ago to reach 1.39 million and 1.34 million units respectively in November.     Overall auto sales topped 12.23 million units in the first 11 months, up 42.39 percent from the same period last year.

BEIJING, Dec. 25 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged to improve taxation regulations to boost economic development and better ensure people's livelihood.     Li made the remarks when visiting the State Administration of Taxation on Thursday. Taxation is a major measure to pool financial revenue and boost social and economic development, and it also plays an important role in adjusting income distribution and improving people's livelihood, Li said. Chinese Vice Premier Li Keqiang (C Back) addresses a symposium on taxation work at the State Administration of Taxation in Beijing, capital of China, Dec. 24, 2009.     He urged better collection and use of tax to ensure livelihood of people with low income and support agriculture and the development in remote, poor areas.     To alleviate burdens on enterprises against the backdrop of the global economic crisis, China carried out the tax reduction policy this year. Tax and fee reduction nationwide totaled 550 billion yuan (80.5 billion U.S. dollars).

BEIJING, Nov. 24 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday called for more efforts to optimize land use in order to save resources and further economic restructuring.     Li made the remarks during an inspection to the Ministry of Land and Resources (MLR). As the most populous country in the world, China has been faced with shortages of land, water, energy and minerals, and the shortages were worsened by rapid economic growth, he said. Chinese Vice Premier Li Keqiang (2nd R) inspects the Ministry of Land and Resources in Beijing, Nov. 24, 2009.    Li stressed strict control on land use for the construction of high energy consuming and polluting projects, projects with excessive capacity as well as duplication of similar projects.     China started its second nationwide land census in June, 2007. The MLR said the census was going smoothly and had collected preliminary data from local authorities. Chinese Vice Premier Li Keqiang inspects the Ministry of Land and Resources in Beijing, Nov. 24, 2009.

来源：资阳报