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BEIJING, June 20 (Xinhua) -- The Ministry of Finance said late Friday it allocated another 3.78 billion yuan (548 million U.S. dollars) in subsidies to help low-income families against the latest fuel price hikes announced a day earlier. Of the total, 1.85 billion yuan will go to urban low-income families, and the rest will be offered to such families in rural areas, the ministry said. Low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for rural families, according to the announcement on Thursday. Vehicles line up at a gas station before the midnight deadline for price rises, in Qingdao, east China's Shandong Province, June 19, 2008 The ministry had earmarked early on Friday 19.8 billion yuan in subsidies to cover extra expenses of groups and sectors that could be affected, including grain producers, taxis and urban and rural buses. The subsidies were intended to "effectively ease the cost pressure on some low-income groups and public service industries exerted by the fuel price adjustment," said the ministry earlier. It was part of the government effort to blunt the impact of a surprise increase of fuel prices, since inflationary pressure is already high. China's benchmark gasoline and diesel oil retail prices were raised by 1,000 yuan per tonne and that of aviation kerosene went up by 1,500 yuan per tonne, effective on Friday, according to the National Development and Reform Commission (NDRC). However, fares for passenger rail services, urban and rural public transport and taxis would be unchanged, said the commission.
BEIJING, Aug. 21 (Xinhua) -- China values its friendly ties with Cuba and is willing to work with Cuba to push bilateral relationship to a new height, Chinese Vice Premier Li Keqiang said on Thursday. Li made the remarks when meeting with Jose Ramon Fernandez Alvarez, vice president of the Cuban Council of Ministers, here on Thursday. Li said Sino-Cuban relations were at a new stage of development, as the two countries had maintained frequent high-level contact and increased economic cooperation and consultation in international affairs. Chinese Vice Premier Li Keqiang (R) meets with Jose Ramon Fernandez Alvarez, vice president of the Cuban Council of Ministers and also president of the Cuban Olympic Committee, in Beijing, China, Aug. 21, 2008. Li also congratulated the Cuban guest on the good performance of Cuban athletes at the Olympic Games. Fernandez, also president of the Cuban Olympic Committee, said Cuba would make new efforts to strengthen relations with China and believed the Games would be a total success. Li also met on Thursday with Tony Hayward, BP Group chief executive officer. Chinese Vice Premier Li Keqiang (R) meets with Tony Hayward, BP Group chief executive officer, in Beijing, China, Aug. 21, 2008. He said energy was an important resource for economic development and high oil prices had become a cause of concern for many countries. He said that nations should strengthen dialogue and cooperation to safeguard global energy security. China would take the scientific development outlook and adopt measures to save resources and reduce emissions, , the vice-premier said, adding China will improve the efficiency of energy consumption to pursue sustainable development. He hoped BP would expand cooperation with its Chinese partners to achieve a win-win deal. Hayward said his company would continue to strengthen cooperation with China.

NEW DELHI, Sept. 9 (Xinhua) -- China-India relationship stands at a new starting point, the two should view and approach relations from a strategic and long-term perspective and keep moving forward their partnership to benefit the two countries and peoples, visiting Chinese Foreign Minister Yang Jiechi said here Tuesday. He made the remarks in his speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies. Chinese Foreign Minister Yang Jiechi delivers a speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies in New Delhi, India, Sept. 9, 2008Yang said China and India are the two biggest developing countries in the world. He quoted Chinese President Hu Jintao as saying that China-India friendship not only serves the interest of both countries but also benefits Asia and the world at large. He said there is no conflict of fundamental interests between China and India. "What we have are broad common interests. We are partners, not rivals. There is a lot that we can do together to further our friendship and cooperation. We should view and approach our relations from a strategic and long-term perspective and keep moving forward our partnership in the new century to the benefit of our two countries and peoples." To this end, he proposed that efforts are needed to be step up in the five areas between the two countries: increase exchanges and enhance strategic mutual trust, boost economic cooperation and trade for win-win progress, expand people-to-people and cultural exchanges, strengthen cooperation in multilateral for a to uphold common interests, address each other's concerns and properly handle differences. "Today, our relations stand at a new starting point. Without friendly relations and mutually beneficial cooperation between China and India, there would be no development and prosperity of our respective countries, no harmony and rejuvenation of Asia, and no peace and progress of the world," he said. Yang arrived in India last Sunday. He attended the inauguration ceremony of China's consulate-general in Kolkata, the capital of West Bengal, met and reached agreement with the West Bengal's Governor and Chief Minister on ways to deepen friendly and multi-faceted cooperation between China and West Bengal. He called upon Indian Prime Minister Manmohan Singh and held talks with Indian External Affairs Minister Pranab Mukherjee in Delhi Monday. The two sides had an in-depth exchange of views and reached broad agreement on ways to further implement the common understanding reached by leaders of both countries and deepen the China-India strategic and cooperative partnership as well as issues of mutual interest.
BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses. The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported. The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses. CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales. To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan. PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."
JEDDAH, Saudi Arabia, June 22 (Xinhua) -- China will stick to the a sustainable energy strategy and make active contributions to the sustainable energy development and energy security in the world, Chinese Vice President Xi Jinping said on Sunday. China will put emphasis on both energy exploitation and conservation with priority given to economizing on energy consumption, Xi said at the ongoing International Energy Conference held in the western Saudi port city of Jeddah. Chinese Vice President Xi Jinping addresses the the international energy meeting held in Jeddah, Aaudi Arabia on SundayChina has drafted a plan to reduce the energy consumption in per unit gross domestic product by about 20 percent by 2010 from the 2005 level, Xi said. "We'll take all possible measures to achieve the goal," he told the one-day meeting. China will try to meet the demands for economic growth and the improvement of people's life by increasing domestic energy supply, Xi said. China still has great potential for domestic energy supply, as the country has abundant reserves in coal, the major source for its energy. Its rich hydroelectric resources, plus other new energies such as nuclear energy, wind energy, are yet to be fully exploited, he added. China will pursue diversified development of energy supplies, Xi said. Various energy forms such as coal, oil and gas, hydroelectricity, wind electricity and solar energy will supplement each other to secure a stable energy supply, he said. Technological progress and innovation in the energy field will be encouraged in China, said the vice president. China will enhance its ability of innovation, break through the bottlenecks of energy technology and seek new ways to exploit energy resources, he said. China will strive to build a resource-conserving and environment-friendly society by ensuring the coordinated development of energy production and environmental protection, he said. China will also adhere to the principle of mutual benefit in the energy field and strengthen cooperation with energy producing and consuming nations, he added.
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