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BEIJING, Dec. 18 (Xinhua) -- China's State Council Thursday approved a plan to deepen reform and opening up in the southern Pearl River Delta area, where the country's reform and opening up drive was initiated 30 years ago. The plan was unveiled on the day when the nation was commemorating the 30th anniversary of the 3rd plenary session of the 11th Central Committee of the Communist Party of China (CPC), which decided to open up the country and reform its struggling economy. The pioneer area of the country's reform and opening up scheme was urged to accelerate economic restructuring and take the lead in building a resource-conserving and environment-friendly society, according to the plan approved by an executive meeting of the State Council, or the Cabinet. The plan also pressed the area to promote technologies so as to excel in innovation, and coordinated development in both urban and rural areas was also stressed. The meeting, presided over by Premier Wen Jiabao, said the area was also to take the lead in deepening reforms and opening up, so that an improved socialist market economy system could be established and a more open economic system could be set up as the region enhances its cooperation with neighbors Hong Kong and Macau. The meeting said the Pearl River Delta is still maintaining stable and relatively fast development at present, but it also admitted that the area received powerful shocks from the current financial crisis, as there are many smaller and export-oriented enterprises in the region. To keep the pace of development would be the top priority of the region at the present stage, the meeting said.
BEIJING, Jan. 26 (Xinhua) -- Finance Minister Xie Xuren said Monday there would be growing difficulty balancing China's budget this year, and he urged officials to avoid unnecessary spending. In a Lunar New Year greeting on the ministry's homepage, Xie said that the external and internal conditions affecting China's social and economic development in 2009 were "very severe" and more difficulties had to be overcome to achieve "steady and relatively fast" economic growth. Xie said government funds should be used efficiently as the government carried out an active fiscal policy to support public investment while cutting taxes. To stimulate the economy, the government has raised export tax rebates three times since July, increased farm subsidies and endedthe value-added tax for equipment purchases -- a move that's expected to reduce companies' tax bills by 120 billion yuan (about 17.4 billion U.S. dollars) a year. Moreover, the threshold for individual income tax, which now stands at 2,000 yuan per month, is likely to rise. Although 2008 fiscal revenue grew an estimated 19 percent from 2007 to some 6 trillion yuan, the economic slowdown, falling corporate profits and tax cuts drove down fiscal revenue in the second half of last year. Last year, the economy grew 9 percent year-on-year, ending a five-year period of double-digit growth. Xie said earlier this month that the fiscal decline might continue this year. The Finance Ministry has imposed tighter controls on the general administrative expenditure of local governments. For example, local governments have been ordered to limit the year's spending on car purchases, meetings, catering and overseas travel to no more than the amounts spent last year. Jiangxi Province has urged officials to avoid unnecessary travel and vowed to cut meeting outlays by 20 percent from the 2008 level, catering expenses by 10 percent, and international business travel costs by 10 percent. Many local governments, meanwhile, said they would step up investment spending in 2008. Shaanxi Province, for example, said it planned to invest 40 billion yuan in education, job re-training, public sanitation and social security, up 21 percent from last year, while Henan Province will invest 40 billion yuan to raise living standards. These and other local governments announced investment plans after the central government put together a 4-trillion-yuan stimulus package in response to ebbing growth.
LIMA, Nov. 22 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the central government would take effective measures to help Hong Kong to ward off the impact of the global financial crisis, safeguard the stability of financial markets and boost economic growth. Hu made the remarks during a meeting with Donald Tsang, chief executive of the the Hong Kong Special Administrative Region (HKSAR) of China. Hu expressed his belief that as long as the HKSAR government and people from all circles could be united, the region would maintain its long-term prosperity and stability. Donald Tsang briefed the president on his government's efforts in dealing with the current financial crisis and voiced his appreciation for the central government's support to Hong Kong. Chinese President Hu Jintao (2nd R) and his wife Liu Yongqing (1st R) meet with Donald Tsang Yam-kuen (2nd L), chief executive of China's Hong Kong Special Administrative Region, and his wife Selina Tsang in Lima, capital of Peru, Nov. 22, 2008. Hu Jintao and Donald Tsang Yam-kuen are in Lima to attend the Economic Leaders' Informal Meeting of the APEC forum slated for Nov. 22-23. The HKSAR government would continue to make efforts to safeguard the financial and economic stability in the region, the Hong Kong chief said. Hu also said China went through a lot of big events and difficulties this year, in which Hong Kong compatriots always stood together and shared weal and woe with the people on the mainland. Hu spoke highly of the disaster-relief efforts provided by the Hong Kong SAR government and people after the May. 12 earthquake to southwest China's Sichuan Province, saying that they had made contributions to the success of China's quake-relief work. The president said Hong Kong has also successfully completed the task of co-organizing the equestrian competition event of the 2008 Beijing Olympic and Paralympic Games. The central government would always support Hong Kong and Macao SAR in coping with and overcoming various difficulties, President Hu told the Hong Kong chief. Both Hu and Tsang are in the Peruvian capital of Lima to attend the 16th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC).
BEIJING, Nov. 20 (Xinhua) -- China has been studying a fuel tax reform to replace the current road tolls imposed upon vehicles, the National Development and Reform Commission (NDRC), the country's top economic planner, announced here on Thursday. The announcement came after media reports said on Wednesday that the government was likely to impose the fuel tax as early as next month. The NDRC together with the Ministry of Finance and the Ministry of Transport has jointly held discussions on related issues including abolishing road and waterway maintenance fees, lowering refined oil prices and improving the fuel pricing system. The planner didn't specify when to launch the long-awaited reform. The introduction of a fuel tax in China was first proposed in 1994 but has been delayed amid concerns that it would impose too great a burden on those who consumed more oil. The government has instead collected road maintenance fees from automobile users regardless of how much gasoline or diesel oil they use. Analysts said the on-going oil price drop presented a good opportunity for China to resume its fuel tax reform. World crude oil prices fell to the current 53.62 U.S. dollars, down more than 60 percent from the peak price of 147 U.S. dollars in mid-July.
BEIJING, Dec. 26 (Xinhua) -- A food company in east China's Shandong Province has been allowed to resume export of bean stuffing to Japan following earlier suspicion of food poisoning, the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ) said Friday. In a brief statement posted on its Web site, the GAQSIQ said the Japanese authorities could not conclude that the food-poisoning symptoms of two Japanese people resulted from consumption of the bean stuffing from Qingdao Fushijia Food Co., Ltd. in Shandong. According to the GAQSIQ, the Japanese Ministry of Health and Welfare said Dec. 17 that Japan decided to lift import ban on Fushijia's products since the Chinese side had found no quality problem with Fushijia's bean stuffing. The Japanese side had also not discovered any harmful chemical substance in imported products. Japan banned the import of Fushijia's bean stuffing in September after two employees of a Japanese food producer importing Fushijia's products became ill.