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TAIPEI, Sept. 11 (Xinhua) -- Financial organizations from the Chinese mainland and Taiwan have stepped up cooperation to take advantage of business opportunities brought by a landmark cross-Strait economic pact, the Economic Cooperation Framework Agreement (ECFA).The board of directors of Taiwan-based Taishin Financial Holdings decided on Sept. 9 to sign a cooperation agreement with mainland-based Nanjing Zijin Investment Co., a move hailed by the company as "the first step to enter the mainland."The agreement aims to promote exchanges and cooperation between the two companies and their subsidiaries, while Nanjing Zijin will ease the way for Taishin's new operations on the mainland, Taishin said.The company's Taishin Bank is also planning to set up an office in Nanjing, capital of east China's Jiangsu Province.Prior to this, China Huarong Asset Management Corporation (CHAMC) and Taiwan-based SinoPac Holdings signed an agreement in Beijing on Sept. 3 to begin a new strategic cooperation. According to the agreement, the two sides will cooperate in personnel training, exchange of management experiences and information, as well as in research, development of new products and new business models.Huarong President Lai Xiaomin said the ECFA would promote a quickening flow of economic resources across the Taiwan Strait, including the movement of personnel, materials, capital and information."The ECFA will bring great business opportunities for cross-Strait economic development and boost cooperation between financial institutions on both sides, thus bringing new development opportunities for financial industries across the Strait," he said.The ECFA, which is to take effect on Sunday, was signed by negotiators from the mainland and Taiwan in June, and aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation.Wang Jianmin, a researcher of the Institute of Taiwan Studies of the Chinese Academy of Social Sciences, said substantial financial cooperation between the two sides has lagged behind trade cooperation for a long time."The ECFA, however, will have a positive impact," he said.The banking service sectors might be among the first to make breakthroughs in cross-Strait financial cooperation.The mainland-based Bank of China and Bank of Communications applied to the Taiwan economic department on Sept. 7 to set up representative offices in Taiwan.According to the ECFA, mainland banks can set up representative offices in Taiwan upon approval by the Taiwan authority and can then apply to set up a branch bank one year after the establishment of representative offices on the island.

BEIJING, Sept. 16 (Xinhua) -- China is expressing its concern about the European Union's investigations into Chinese-made wireless wide area networking (WWAN) modems, said a spokesman for the Ministry of Commerce (MOC) on Thursday.Yao Jian, the spokesman, made the remarks after the EU said it was conducting an anti-subsidy investigation into the devices.The EU launched investigations of anti-dumping and supporting measures on the WWAN modems from China on June 30, 2010. It is the first time the EU has made simultaneous triple investigations on a China-made product, Yao said.The move is unheard of for World Trade Organization members when dealing with trade remedy cases in practice, Yao said. The Chinese public and people working in the industry showed strong dissatisfaction towards the EU's practice.The WWAN modems are high-tech products that are constantly updated. These Chinese-made modems promote the advances of the technology and created new market fields which benefited the EU consumers, Yao said.The EU's investigations will disrupt normal trade and hurt the interests of EU consumers, he said.Yao further stated that the EU's move is also running counter to the deepening China-EU friendship.He said he hoped the EU could take actions based upon relevant laws and the facts and keep their promise on being opposed to trade protectionism, lest it damages China-EU economic and trade relations and also the EU economy.China will take corresponding measures within the rules of the World Trade organization in due time, he added.The investigation is the largest trade remedy investigation case against China, involving a total value of 4.1 billion U.S. dollars in exports.Wireless modems send or receive data as a radio signal.The 27-member EU is China's biggest trade partner. China is the EU's second-biggest trade partner and is its biggest source of imports.China's main exports to Europe are machinery and domestic goods, including clothes and shoes. While the EU's main exports to China include industrial machinery, transport equipment, chemicals and high-end consumer goods.Concerning the request for consultations from the United States about China's alleged anti-dumping and anti-subsidy duties on U.S.steel exports and China's policies on the electronic payment market, China has received the request and will resolve the issue based upon WTO rules, said MOC officials.U.S. trade representative Ron Kirk filed a statement with the WTO Wednesday, claiming China imposes duties on U.S. steel exports and discriminates against suppliers of electronic payment services from the U.S.China's policies on electronic payment services are consistent with the country's commitment to the WTO and the anti-dumping and anti-subsidy duties on U.S.-made steel are also in line with WTO rules, according to the MOC.U.S. is China's second largest trade partner.

TAIPEI, Sept. 18 (Xinhua) -- Counties and cities in Taiwan are bracing for the approaching typhoon Fanapi, as the local meteorological department forecasts it will make landfall over the eastern part of Taiwan early Sunday morning.Taitung, Yilan and Hualien counties announced schools were suspended as of Saturday night. Nantou county has evacuated some local residents living in danger areas in advance.The Maokong cable car, the longest one in Taiwan has halted operations.Tsengwen Reservoir, Taiwan's largest reservoir, has begun discharging water since Saturday noon, in preparation for heavy rains brought by Fanapi.TransAsia Airways, Mandarin Airlines and Uni Air have announced the cancellation of some Sunday flights.Some local farmers in Taitung County were racing against time to harvest crops, and fishing boats have returned to harbor.The eye of Fanapi was 420 kilometers east from Hualien County, as of Saturday noon, according to the local meteorological department.Taiwan will be prominently affected by Fanapi on Sunday and Monday, according to the forecast.

TIANJIN, Oct. 23 (Xinhua) -- China has become Volvo's third largest market, with more of its car models to go on sale in the world's largest auto market this year, Chief Executive Office (CEO) of Volvo Cars China said in Tianjin.Dr. Alexander Klose, CEO of Volvo Cars China, told Xinhua at the Ninth Tianjin International Automobile Trade Show, being held from Friday to Wednesday.Klose said Volvo Cars had entered a new era of fast development, adding that its sales in China roared in 2010.As of the end of September, Volvo's global sales volume was up 12.5 percent year on year, compared with 52 percent year-on-year rise in China, he said.Volvo also aggressively expanded its dealer network to 98 outlets in 81 Chinese cities this year.Two new Volvo sales centers opened in Beijing within merely one week in early October, about two months after east China's Zhejiang Geely Holding Group Co. acquired the Swedish brand from the U.S. auto giant Ford for 1.5 billion U.S. dollars in early August.Dr. Klose said he was confident of seeing tremendous growth in China's auto market in the next five years."As the Chinese government has increased the tax rate for large displacement cars already, we now have a lot of cars below three liters, and I think we'll stick to that strategy, as you can see now the XC60 which was introduced today is just two liters," he said."As the technology advances, we'll probably even see 1.6 liter engines or 1.5 liter engines in the future," he added.Volvo Cars is not the only automaker hoping to take advantage of China's rapidly growing auto market.Bentley, the famous British luxury carmaker, will open a new sales center in China at Tianjin next Thursday, which is the 11th one in China, according to a press release by Shanghai-based Zenith Integrated Communications Corp. (Zenith) Saturday at the auto show.Zenith is the public relations agent of Bentley in China. The automaker has sold 421 limousines to China in 2009, and the goal for 2010 is 777, the release said.

BEIJING, Sept. 30 (Xinhua) -- Chinese Premier Wen Jiabao said Thursday that the government will keep housing price at a reasonable and stable level.Addressing a grand reception marking the 61th anniversary of the founding of the People's Republic of China, Wen said the nation will improve support for the elderly, medical care and other social security schemes, to allow all the citizens to benefit from China's economic growth.Present at the reception were Chinese President Hu Jintao and other senior Chinese leaders Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang, Zhou Yongkang and more than 1,000 Chinese and foreign personages.Chinese Premier Wen Jiabao addresses the reception to celebrate the National Day at the Great Hall of the People in Beijing, capital of China, Sept. 30, 2010. China's State Council (Cabinet) on Thursday held the reception to mark the 61st anniversary of the founding of the People's Republic of China, which falls on Oct. 1.Premier Wen reiterated the country's adherence to the paths of scientific development, reform and opening-up, and peaceful development."China's development will neither harm anyone nor pose a threat to anyone," he said, adding that the argument that a strong country is bound to seek hegemony does not apply to China.Wen said this year is the last year for implementing China's 11th five-year plan of economic and social development.He reviewed the country's "new historic changes" over the last five years, citing enhanced productivity and national strength, improvements in people's lives, and the country's increased international standing and influence."In the last two years in particular, we adopted timely and forceful measures to counter the severe impact of the global financial crisis," said the premier."We have prevailed over numerous difficulties and become one of the first countries to achieve an economic rebound," he added.Saying the country is at a "new historical starting point," Wen said the coming five years will be crucial to China's effort to build a moderately prosperous society.He called for joint efforts with compatriots in Hong Kong and Macao to promote long-term prosperity and stability in the two regions.The premier also vowed to join hands with compatriots in Taiwan to promote peaceful development across the Taiwan Strait and fulfill the peaceful reunification cause.

来源：资阳报