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BEIJING, Nov. 23 (Xinhua) -- China's vegetable prices declined at a faster rate last week as weather remained good and local governments stepped up efforts to ensure supplies.According to a report by the Ministry of Commerce (MOC) on Tuesday, the prices of 18 types of vegetables for the week ending November 21 declined 2.6 percent from the previous week, and the pace of the fall accelerated from the previous week's 0.8 percent.The ministry said that radishes, cucumbers and celery were among the vegetables that witnessed the largest fall in prices, dropping 11.1 percent, 10 percent and 7 percent respectively week-on-week.This was good news for the Chinese government as it strove to ease inflation and keep rising prices in check.China's consumer price index (CPI), a main gauge of the country's inflation, surged to a 25-month high of 4.4 percent in October. Food prices, which account for one-third of the basket of goods used to calculate the CPI, soared 10.1 percent last month.However, according to the MOC report, China's meat and cooking oil prices during the period of November 15-21 edged up because of rising demand. Prices of pork and beef rose 2.2 percent and 0.7 percent respectively, week-on-week.
BEIJING, Dec. 29 (Xinhua) -- Chinese President Hu Jintao has stressed the need to stabilize commodity prices, extend the coverage of the social security network and boost employment to ensure the country develops in a comprehensive, coordinated and sustainable manner.Hu made the call Tuesday when presiding over lectures on economic development attended by members of the Political Bureau of the Communist Party of China (CPC) Central Committee.The lectures were given by two researchers respectively from the National Development and Reform Commission and the Chinese Academy of Social Sciences.Efforts should be made to establish a long-term mechanism that increases consumptions, renovate and upgrade traditional industries, and cultivate and support strategic emerging industries, Hu noted.Hu, also general secretary of the CPC Central Committee, called for deepening of the country's reform and opening up, adding that improving people's livelihood and ensuring their well-being, promoting economic growth and maintaining social stability are the Party's top agenda.Hu said impetus should be given to the development of the service industry as well as to the coordination of regional development, and vigorous yet steady endeavors should be made to advance urbanization.Hu also called for efforts to embrace reform and innovation in the country's economic, political, cultural and social systems and urged local authorities to seek opinions and advice from the people in formulating regional development blueprints.Further, Hu asked CPC officials to cement their ties with the people and do practical things for the public.

BEIJING, Nov. 28 (Xinhua) -- China National Offshore Oil Company Limited (CNOOC) said Sunday Bridas Corporation, a joint-venture equally-owned by CNOOC International Limited and Argentina-based Bridas Energy Holdings (BEH), will acquire a 60 percent equity interest in Pan American Energy (PAE) from BP for approximately 7.06 billion U.S. dollars.The acquisition excludes PAE's assets in Bolivia, according to a statement on the website of CNOOC, China's largest offshore oil and gas producer.CNOOC International, a wholly owned subsidiary of the company, and BEH have agreed to contribute about 4.94 billion U.S. dollars to Bridas to finance 70 percent of the proposed acquisition. The contribution will be made in equal amounts of approximately 2.47 billion U.S. dollars by CNOOC International and BEH.The remaining 30 percent, or approximately 2.12 billion U.S. dollars, will be satisfied by third party loans to be arranged by Bridas and additional contributions from CNOOC International and BEH.Completion of the acquisition is conditional on, among others factors, all necessary government and regulatory approvals, and is expected to take place in the first half of 2011.In the first half of 2010, CNOOC International and BEH completed the formation of a half-half joint venture in Bridas.
BEIJING, Dec. 23 (Xinhua) -- China and the United States are in close touch for Chinese President Hu Jintao's state visit to the U.S. in January, Chinese Foreign Ministry spokeswoman Jiang Yu said Thursday.Jiang said President Hu's visit will be a major event of the China-U.S. relations in the new era, and China hopes the visit could further push forward the positive, cooperative and comprehensive China-U.S. relations.
BEIJING, Dec. 20 (Xinhua) -- China's top judge, Wang Shengjun, on Monday urged the nation's courts to pay close attention to the impact on people's standards of living caused by recent price hikes.Also, the courts should properly handle disputes regarding employment, social security, education, medical treatment, housing and consumption sectors, in an effort to safeguard people's vital interests, said Wang, President of the Supreme People's Court of China, at a meeting attended by presidents from the countrywide high courts.Further, the Supreme People's Court urged local authorities to crack down on telecom and internet fraud, the fight against production and sales of poisonous food and fake medicine, and ensuring the safety of people's health and property, according to Wang.All courts should also properly handle disputes concerning farmers' rights and interests, including cases relating to the sale of agricultural products and pay to migrant workers, Wang said.Wang also urged the courts in various regions to take an active part in the country's efforts in protecting intellectual property rights and environmental protection, and hand down severe punishments for work-related crimes.As to people's letters and appeals to the higher authorities for help, Wang said the courts and police officers should speed up dealing with long-pending cases, and resolve problems and complaints from people.Statistics from the Supreme People's Court showed that in the first 11 months of this year, courts at various levels had received 9,754,141 cases and completed handling 8,967,396 cases, up 0.15 percent and 2.14 percent year-on-year.Wang also said the courts had played an effective role in serving economic and social progress.
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