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LONDON, Feb. 2 (Xinhua) -- Airbus and Xi'an Aircraft Industry Company (XAC) signed a cooperation agreement here on Monday to have the A320 Family wing "fully completed and tested" in China.     The agreement signed by Brian Fleet, Airbus senior vice president, and Meng Xiangkai, president of XAC, in London, in the presence of the visiting Chinese Premier Wen Jiabao and his British counterpart Gordon Brown.     According to this fourth phase of the agreement, the wing equipping and testing will be done in Tianjin in a facility to be newly built close to the A320 FALC by XAC, a wholly owned subsidiary of China Aviation Industry Corporation (AVIC).     The fully equipped and tested wings will be directly delivered to the nearby Final Assembly Line.     The wing box structures assembled by XAC in China are now completed at Airbus' Broughton site, before being transported to the Final Assembly Line in China.     The wing equipping operations are expected to start at the end of 2009, followed by the first delivery of a fully equipped set of wings in the first quarter of 2010.     "With this project, Airbus is fulfilling its support to the cooperation agreement regarding A320 China wing manufacture," said Fleet.     He said that having this facility close to the FALC is the most efficient industrial solution which will save transportation costs, reduce lead-time and risks in handling, and ensures quicker response time to our customers.     Meng said that "I am confident that we will also be successful with this fourth phase, after successes in the first three phases."

BEIJING, Nov. 26 (Xinhua) -- China's State Council, or the Cabinet, said on Wednesday that more efforts would be made to encourage enterprises to upgrade technology and engage in independent innovation.     It also said there would be policies to promote merger and acquisition among enterprises.     The policies were clinched at an executive meeting of the State Council, presided over by Premier Wen Jiabao. The meeting was held to discuss measures to address difficulties faced by enterprises and promote economic growth and deliberate plans to reform finished oil pricing mechanism and fuel taxes and fees.     According to the meeting, plans would be drawn up to help some key industries, including steel, auto, ship manufacturing, petrochemical, light industry, textile, nonferrous metals, equipment manufacturing and information technology.     The meeting urged banks to increase credit supply to help small and medium enterprises overcome difficulties.     To offset adverse global economic conditions, the State Council on Nov. 9 has announced a 4 trillion yuan (585.7 billion U.S. dollars) stimulus package to boost domestic demand. This will be combined with other boosting measures, such as loosening credit conditions and cutting taxes.     The huge amount of money will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding after several disasters, most notably the May 12 earthquake.     The State Council also discussed the reform plans of finished oil pricing mechanism and fuel tax and fees at the meeting. It decided to make public the two draft reform plans to solicit public advice.     According to the National Development and Reform Commission, the government has been studying a fuel tax to replace the current road tolls imposed upon vehicles.     The long-awaited fuel tax and fee reform was first proposed in 1994.     The State Council meeting also reached decisions to increase the storage of key materials and resources, accelerate development of the service industry and enhance measures to promote employment and social security.     More education and job training would be provided among the government's efforts to increase employment. This education and training should also cover the lay-off workers and rural laborers who returned from cities because of unemployment, according to the meeting.

BEIJING, Nov. 19 (Xinhua) -- Tax rebates for China's light industry should be increased to alleviate cost burdens on exporters, the cabinet said here on Wednesday.     China also plans to remove unreasonable administrative fees and charges on industry players, and offer more, said a statement released after the executive meeting of the State Council presided over by Premier Wen Jiabao.     Through the foreign trade development fund, set up by the central government, active assistance will be made to boost exports and help companies' promotion and acquisition efforts in the international market, members said at the meeting.     The tax rebate rate has been raised three times this year in China. The most recent increase came Monday. It covered a list of 3,770 items which account for 27.9 percent of the country's total exports.     Items include labor-intensive, mechanical and electrical products. The rebate takes effect Dec. 1.     The previous two rebates were made in August and at the beginning of this month.     Official data showed that China's October export growth slowed to 19.2 percent from 21.5 percent in September.     "Light industry is China's strong point and its stable and healthy development would be of prime importance," members said while explaining the reason behind the move.     The industry is suffering severely from changes in the domestic and international economic environment in recent months. Concrete measures should be taken to support the industry to weather the difficulties.     China levies value-added tax on most products, but refunds varying amounts of that tax on goods that are exported. The government usually adjusts the size of export tax rebates for different types of goods when it is trying to encourage or discourage growth in particular industries.     Several other policies were passed at the meeting to support the development of the light industry. Financial subsidies were offered to rural residents and people in quake-hit regions and remote areas in China in an effort to boost domestic demand on their products.     More funding would be allocated to support the development of small and medium-sized enterprises, as well as to encourage technical innovations and upgrades in these companies.     The draft of arbitration law on land contract related disputes, which, after revision, would be submitted to the standing committee of the National People's Congress for approval, was also discussed at the meeting. Two revised drafts of ordinances on grassland and forestry fire prevention will be implemented after some changes

BEIJING, Nov. 2 (Xinhua) -- China's gross domestic product (GDP) growth is expected to slow to 9.4 percent in 2008 from last year's 11.4 percent as the shrinking exports will cool the world's fourth largest economy, according to a Chinese credit rating agency report on Sunday.     The fundamentals of the economy are sound, but falling export orders would take a toll on the national economy in the short term, and domestic consumption needed time to play a bigger role, said the report released by the China Chengxin International Credit Rating Co. (CCXI), a joint venture of China's first rating agency China Chengxin Credit Management Co. Ltd. and U.S.-based Moody's Corporation.     The changing external economic environment and the burst of domestic asset bubbles would exacerbate the slowing economy, said the report.     The proactive fiscal policy was key to preventing the economy from falling and there was room for further cuts in bank reserve requirement ratios and interest rates.     It predicted the economy would gain 8.6 percent in 2009, but it gave no explanation of its forecast.     China's economy grew at 9 percent in the third quarter, the slowest in five years, as the global financial crisis sapped demand for Chinese goods, and domestic industrial production waned in response to weak demand and rising raw material costs.     The government has lowered interest rates three times in the last two months, increased export rebates and cut property transaction taxes to boost domestic consumption.     The report said the world financial crisis would have limited direct impact on the domestic banking system, but it warned Chinese exporters of default risks of foreign buyers.     Insurers and securities companies would be affected as the domestic capital market was growing more connected to the international market.     In September, the Manila-based Asian Development Bank, projected China's GDP growth to fall to 10 percent this year and further ease to 9.5 percent in 2009.     The slow-down was a result of the combined effects of a reduced trade surplus, slower growth in investment, and the global economic downturn, the Asian Development Outlook 2008 Update has said.

BEIJING, Jan. 19 -- Air China Ltd, the nation's largest international carrier, expects to report its first annual loss in at least eight years on waning travel demand and wrong-way bets on fuel prices.     The carrier made paper losses of 6.8 billion yuan (994.5 million U.S. dollars) on fuel-hedging in 2008, it said on Friday in a Hong Kong stock exchange statement. The airline made a 3.88-billion-yuan annual profit in 2007.     Air China joins China Southern Airlines Co and China Eastern Airlines Corp in forecasting a 2008 loss after the nation's cooling economy damped business and leisure travel. The Beijing-based carrier also reported hedging losses after jet-fuel prices tumbled 70 percent in less than six months.     "Air China is more exposed to the global crisis" than China Southern and China Eastern, said Li Jun, an Everbright Securities Co analyst in Shanghai. "As such, most of its advantages turned into disadvantages last year."     The carrier has been profitable since at least 2000, data complied by Bloomberg News showed, helped by having a wider overseas network than domestic rivals.     "The aviation market experienced a general shrinking demand in 2008 and traffic revenue was significantly lower than expected," the Beijing-based company said in the statement. The hedging contracts "will have a considerable effect on the financial results for the year."     The airline is also able to hedge a greater proportion of its fuel needs than rivals, as Chinese carriers are barred from hedging purchases of fuels for domestic flights. That has previously enabled Air China to limit the effect of increasing fuel prices.     The airline's passenger numbers fell 1.7 percent in 2008 to 34.2 million, the first decline in five years. Its cargo and mail volume dropped 3.8 percent to 898,962 tons.     The shares have dived 80 percent in the past year and closed 3.9 percent higher at 1.88 Hong Kong dollars (24 U.S. cents) a share on Friday in Hong Kong trading.

来源：资阳报