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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. 7 (Xinhua) -- China would continue to adopt the proactive fiscal policy and moderately easy monetary policy next year and endeavor to improve the economic growth quality, according to the Central Economic Work Conference Monday.     Chinese President Hu Jintao and Premier Wen Jiabao addressed the meeting, which is held once a year to set the tone for economic development during the next year.     It was agreed at the conference that 2010 is the last year in the counry's 11th five-year plan, and to do a good job in the country's economic and social development next year was of great importance to dealing with the impact of the international financial crisis successfully in an all-around way and laying a sound foundation for China's 12th five-year plan. Chinese President Hu Jintao, who is also general secretary of the Central Committee of the Communist Party of China and chairman of the Central Military Commission, speaks during the Central Economic Work Conference, in Beijing, capital of China, Dec. 7, 2009. Other Chinese leaders Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang also attended the conference    More efforts would be made to promote the transformation of the economic development pattern and structural adjustments and to enhance the focus and flexibility of economic policy in the following year in line with new situations next year, according to the attendees of the meeting.     More efforts would also be laid on reform and opening-up, innovation, enhancing the vigor and momentum of the economic growth, improving people's livelihood, maintaining social harmony and stability, said participants of the conference.     It was agreed at the meeting that a good balance should be kept in maintaining a relatively fast and stable economic growth, economic restructuring and dealing with predicted inflation next year. Wen Jiabao, member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China and Chinese premier, speaks during the Central Economic Work Conference, which was held in Beijing, capital of China, on Dec. 5-7, 2009The government would strengthen financial support to sectors including farming, science and technology, education, health care, social security, affordable homes, energy saving and environmental protection in 2010, according to participants of the conference.     The country would tightly control loans targeted at high energy-consuming, high polluting industries and those with excessive production capacity in a bid to improve loans quality and efficiency, according to the meeting.     The Central Economic Work Conference comprises policy-making officials from central and provincial-level governments. 

HEFEI, Nov. 29 (Xinhua) -- Vice Premier Li Keqiang on Sunday wrapped up his two-day inspection tour in East China's Anhui Province Sunday, calling for the acceleration of structural adjustment and industry upgrade to improve the quality and efficiency of economic growth.     At the plant of Chery, China's largest home-brand automobile manufacturer, Li said he was delighted to see that the company maintained a vigorous growth momentum despite the global downturn.     Li said the government should work to create a better environment for such companies to grow. Chinese Vice Premier Li Keqiang (C) shakes hands with a worker at Chery Automobile Co.,Ltd in Wuhu, east China's Anhui Province, Nov. 28, 2009. Li made an inspection tour in Anhui Province from Nov. 28 to 29    He encouraged local enterprises to develop energy-saving technologies for a new competitive edge.     Li also checked on the pollution control program for the Chaohu Lake, one of China's five biggest fresh water lakes, and asked for more investment in environmental protection.     Li also inspected research institutions, hospitals and communities in Anhui Province.Chinese Vice Premier Li Keqiang (C) talks with a worker at Anhui Conch Group in east China's Anhui Province, Nov. 28, 2009. Li made an inspection tour in Anhui Province from Nov. 28 to 29.

WASHINGTON, Dec. 30 (Xinhua) -- The U.S. International Trade Commission (ITC) on Wednesday slapped punitive penalties to imports of some 2.6 billion dollar oil country tubular goods (OCTG) from China, a move might escalate trade disputes between the two countries.     The ITC "has made affirmative determination in its final phase countervailing duty (CVD) investigation" concerning the oil pipes from China, said the ITC in a statement.     The trade agency has determined that "a U.S. industry is materially injured or threatened with material injury by reason of imports of certain oil country tubular goods from China that the U.S. Department Commerce has determined are subsidized," according to the statementThe U.S. Commerce Department made a final determination last month to impose duties between 10.36 percent and 15.78 percent on the pipes, which are mostly used in the oil and gas industries.     The ITC ruling paved the way for the imposition of duties.     The Commerce Department made its preliminary determination of CVD in September.     On Nov. 4, the Commerce also set preliminary antidumping (AD) duties on such imports from China, which is the biggest U.S. trade action against China.     Under that preliminary determination, Commerce set a 36.53 percent antidumping levy on OCTG from 37 Chinese companies, while some other Chinese companies will receive a preliminary dumping rate of 99.14 percent.     Commerce will make its final determination of antidumping duties early next year.     If Commerce makes an affirmative final determination, and the ITC makes an affirmative final determination that imports of oil tubular goods from China materially injures, or threaten material injury to, the domestic industry, Commerce will issue an antidumping duty order.     The antidumping and countervailing petition case was filed in April this year.     From 2006 to 2008, imports of OCTG from China increased 203 percent by value and amounted to an estimated 2.7 billion dollars in 2008, said the U.S. Commerce Department.     China strongly opposed the U.S. decision, saying that it is a protectionist move.     "China expressed strong dissatisfaction and is resolutely opposed to this," said China's Ministry of Commerce (MOC) spokesman Yao Jian in a statement in September.     "This does not comply with WTO agreements on subsidies. The U.S. used an incorrect method to define and calculate the subsidies, which has resulted in an artificially high subsidy rate, hurting Chinese firms' interests," said Yao.     "We hope the United States can get rid of the bias and admit China's market economy status soon to tackle the double standards thoroughly and give Chinese enterprises equal and fair treatment," Yao also said last month.     The U.S. industries also expressed strong dissatisfaction with the trade case, saying such a protectionist move would hurt U.S. companies.     The trade restrictions would "hurt U.S. using industries by raising their costs and making sources of supply uncertain," Eugene Patrone, executive director of the Consuming Industries Trade Action Coalition (CITAC) told Xinhua in September.     He noted that the tariffs would make oil and gas exploration and production be more expensive, projects be delayed, "which is against our national goal of being less dependent on imported energy."     The onset of the global recession appears to have set off an increase in trade disputes around the world.     Globally, new requests for protection from imports in the first half of 2009 are up 18.5 percent over the first half of 2008, according to the World Bank-sponsored Global Anti-dumping Database organized by Chad P. Bown, a Brandeis University economics professor.     That increase follows a 44 percent increase in new investigations in 2008.     And China has become the main target of the rising protectionism.     In another steel dispute, the U.S. Commerce Department said on Tuesday that it will impose antidumping tariffs of 14 percent to 145 percent on imports of 91 million dollar steel grating from China. A final determination will be made by the department in April 2010.

BEIJING, Oct. 26 (Xinhua) -- Chinese Vice Premier Li Keqiang's upcoming visit to three nations would help advance bilateral relations between China and the three nations, said a senior official here on Monday.     "The visit will cement and promote our political mutual trust and traditional friendship," Chinese Vice Foreign Minister He Yafei told Xinhua.     Li will pay an official visit to Australia, New Zealand and Papua New Guinea from Oct. 29 to Nov. 5 at the invitation of governments of the three countries.     "This is an important visit paid recently by Chinese leader to the south Pacific region," He said, noting that the three governments attached great importance to the visit.     During the visit, Li will meet with the leaders of the three nations, attend the signing ceremony of bilateral agreements and make extensive contacts with officials of local governments, businessmen and peoples from all circles, according to He.     The visit would help promote friendly exchanges and pragmatic cooperation between China and the three countries in trade, energy, resources, science, education and other fields, and strengthen bilateral coordination in international and regional affairs, he noted.     Hailing the considerable progress in recent years, He said the Chinese government had always attached great importance to developing friendly and cooperative relations with the three countries.     "We always grasp the development direction of bilateral relations from a strategic and long-term perspective, adhere to the five principles of peaceful co-existence, and stick to the spirit of mutual benefit to strengthen our dialogue and cooperation," He noted.     "Seeking peace, development and cooperation is our common voice," He said, noting that in many ways, China's relations with the three countries faced a huge potential and rare opportunity for development.     He also provided detailed statistics to show the growth of bilateral relations, saying that economies of China and the three nations were highly complementary.     Australia is China's eighth largest trading partner and an important supplier of energy resources. Bilateral trade volume with Australia in 2008 reached 59.66 billion U.S. dollars.     New Zealand is the first developed country which signed and implemented the bilateral free trade agreement with China. Both Australia and New Zealand recognized China's full market economy status.     Papua New Guinea for many years is China's largest trading partner and investment destination in the Pacific island region.     According to incomplete statistics, at present, there are 130,000 Chinese students studying in Australia, and about 34,870 studying in New Zealand. The people-to-people exchanges between China and Papua New Guinea is also very active.     "Facts show that the development of the relationship between China and these countries has a solid foundation, and accords with the common interests of both sides," He noted.