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BEIJING, Feb. 22 -- The Chinese central government plans to implement a new policy in the first half of this year to encourage auto industry consolidation and further the development of Chinese-brand passenger vehicles, an official from the Ministry of Industry and Information Technology said at a recent news conference.According to sources with knowledge of the new policy, it intends that Chinese-brand passenger vehicles will comprise at least half of vehicle sales by 2015 and sedans made by entirely domestic automakers will have about 40 percent of the nation's car market.Statistics from the China Association of Automobile Manufacturers (CAAM) show that 4.58 million Chinese-brand passenger vehicles were sold last year, some 44.3 percent of the total. Through an acquisition deal with Aviation Industry Corp last year, Chang'an Auto closed the biggest asset deal between State-owned auto enterprisesSales of domestic sedans hit 2.22 million units, almost 30 percent of the segment.The new policy will also focus on accelerating consolidation between automakers and could lead to a new round of reshuffling, industry insiders said.China became the world's largest auto producer and market last year with both production and sales surpassing 13.5 million vehicles due in part to government incentives.There are now more than 130 carmakers across the country, but most of them are small enterprises with annual production and sales of fewer than 10,000 units.Only five had sales of more than 1 million units last year as the country's top 10 carmakers moved a total of 11.89 million vehicles to account for 87 percent of overall sales, according to market data.Consolidation movesLast year, Chang'an Motor Corp acquired two minivan makers - Hafei and Changhe - as well as engine producer Dong'an Auto from the Aviation Industry Corp of China (AVIC), marking the biggest asset deal ever between State-owned auto companies.Chang'an is the fourth-largest motor group in China and the local partner of US carmaker Ford Motor and Japan's Mazda and Suzuki. After the acquisition, Chang'an's 2009 sales were only 30,000 units behind Dongfeng, the country's third-largest motor group.Guangzhou Automobile Group Corp, the country's sixth-biggest automaker, bought a 29 percent stake of Shanghai-listed SUV maker Changfeng Motor Co Ltd for 1 billion yuan in May last year.Beijing Automobile Industry Holding Corp, China's fifth-largest carmaker, reportedly finalized a deal last month to buy a 40 percent stake in Daimler AG's van joint venture with Fujian Motor Industry Corp.By 2012 policymakers hope consolidation will result in two to three large-scale auto groups, each with annual production capacity surpassing 2 million units, and four to five companies with annual output of more than 1 million vehicles, according to the national auto industry revitalization plan released in March last year.The current top-four Chinese motor groups are SAIC Motor Corp, FAW Group, Dongfeng Motor and Chang'an Motor. Carmakers including Beijing Automobile, Guangzhou Automobile, Chery, Geely and Sinotruk form the second tier in the country's auto industry.Going globalLi Yizhong, minister of Industry and Information Technology, said recently that in addition to fueling industry consolidation, the government will also implement measures to encourage domestic automakers in reaching overseas this year through investment, acquisition of foreign brands, building research and development facilities and developing sales networks.Industry sources said that the new policy calls for 20 percent of overall sales by major auto groups to be generated overseas in the next few years.In the wake of the financial crisis, China's vehicle exports fell sharply by 45.7 percent to 369,600 units last year, according to statistics from the General Administration of Customs. Industry analysts generally expect a rebound in car shipments this year as the foreign markets begin to recover.Despite the poor export performance, Chinese companies were aggressive in acquiring overseas assets in 2009.Homegrown carmaker Geely's bid for Swedish luxury brand Volvo received a lot of media exposure in 2009. The Zhejiang-based company will reportedly close the deal soon.Beijing Automotive bought some of Swedish carmaker Saab's core assets and technologies for 0 million last year.Li noted that along with encouraging acquisitions and consolidation, the government will restrain overcapacity in the auto industry.Li also said that the ministry will accelerate the development of new energy vehicles, including hybrid, pure electric and fuel battery models.The new policy will reportedly stipulate that Chinese partners hold at least a 50 percent share in newly built Sino-foreign joint ventures that produce core parts for alternative-energy vehicles.

BEIJING, Feb. 11 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 1.5 percent year on year in January 2010, the National Bureau of Statistics announced Thursday.Food prices went up 3.7 percent last month year on year, with non-food prices edging up 0.5 percent from a year earlier.The figure advanced 0.6 percent in November 2009, ending nine months of decline.

DHAKA, March 14 (Xinhua) -- Bangladesh attaches great importance to Prime Minister Sheikh Hasina's upcoming visit to China, Foreign Minister Dipu Moni said here on Sunday."We attach great importance to prime minister's visit to China as Bangladesh and China are trusted friends. We have cordial and friendly relations," Moni said.Briefing reporters on the visit, Moni said that after the new government assumed power in January 2009, the Chinese government sent a special representative to Prime Minister Sheikh Hasina and expressed strong desire to work together.Moni said Bangladesh also wants to strengthen bilateral ties and cooperation with China .On the sidelines of the world climate change conference in Copenhagen last year, Hasina had meeting with Chinese Premier Wen Jiabao and discussed bilateral issues of mutual interest.The foreign minister said apart from Sheikh Hasina's visit, a number of cultural exchange programs will take place this year marking the 35th anniversary of establishment of diplomatic relations between Dhaka and Beijing.

BEIJING, Feb. 4 (Xinhua) -- Chinese Premier Wen Jiabao on Thursday urged to boost development of social undertakings and improvement of people's livelihoods while pushing forward the transformation of economic growth mode.Speaking to a seminar for provincial and ministerial level officials presided over by Vice Premier Li Keqiang and attended by Vice President Xi Jinping, Wen said development of science, education and culture was key to the transformation of China's economic growth mode and its sustainable development.He urged that plans should be made to forge a number of emerging strategic industries as the mainstay of China's economy as soon as possible, and that traditional industries should be upgraded with the latest technologies to enhance their efficiency and competitiveness. Chinese Premier Wen Jiabao (C) speaks as Chinese Vice President Xi Jinping(R) and Vice Premier Li Keqiang (L) listen in a seminar on the implementation of the Scientific Outlook on Development and the transformation of the mode of economic development in Beijing, capital of China, Feb. 4, 2010. The seminar, attended by the country's provincial and ministerial chiefs, opened on Wednesday at the Party School of the Communist Party of China(CPC) Central Committee in BeijingHe also called for stepped-up efforts in technological self-innovation, the creation and protection of intellectual properties.Reforms in China's education system must also be carried forward so as to promote quality education and to give the schools more say in their operation, the Premier said.Authorities must ensure free access to the nine-year compulsory education for all children, and to bridge the gap of imbalanced educational resources between urban and rural areas and between different regions and schools, Wen said.Vocational education should also be improved, he added.Noting that culture was an important factor in boosting the country's development and the revitalization of the nation, Wen said policies to support the development of cultural industries and innovations should be perfected.In addition, he stressed that boosting employment should be given top priority in China's social and economic development.Authorities should increase employment by maintaining stable and relatively fast economic growth, fueling the development of the service industry, labor and knowledge-intensive industries, and supporting the development of small and medium-sized enterprises and the non-public sectors, he said.They should also provide more training for people having difficulties in finding jobs, Wen said.The Premier also said the country's income distribution system should be perfected so that all 1.3 billion Chinese could enjoy the fruit of the country's reform and opening up drive.Authorities should make special efforts to raise the payment for people with modest or low incomes in both urban and rural areas in the country, especially farmers and migrant workers, he said, adding that tax tools should be better employed to adjust the income distribution.He also urged that the country's social security system should be perfected.A nationwide social security network should be set up, and medical reforms should be deepened in the country to provide the public with easy and equal access to medical services.The public should be fully motivated to contribute to the development of social undertakings, in order to improve the quality and efficiency of public services, Wen said.

BEIJING, Feb. 24 (Xinhua) -- China should further step up efforts to implement the plan to adjust and reinvigorate some of the country's key industries, according to an executive meeting of the State Council held on Wednesday.The meeting was chaired by Premier Wen Jiabao.Progress has been made in 2009 for adjusting and promoting key industries, however the situation remained grave as weak global demand was still affecting China's economy and more efforts were needed to curb overcapacity in some industries, according to a statement released after the meeting.To combat the global economic downturn, China in 2009 adopted a massive plan to adjust and reinvigorate the country's ten key industries covering cars, steel, information technology, logistics, textile, nonferrous metal, equipment manufacturing, petrochemicals, shipbuilding as well as light industry.The implementation of the plan was a long-term task which should focus on the structure adjustment and development mode transformation of the ten industries, said the statement.Vigorous efforts should be made to expand domestic demand, optimize industrial layout, curb overcapacity, eliminate retrograde productivity, push company merger and restructuring, promote technology innovation and deepen reform to facilitate development mode change, it said.