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China's natural gas output would at least double the present volume in the coming decade to reach 150 billion to 200 billion cubic meters, PetroChina Vice President Jia Chengzao said on Tuesday. PetroChina, the country's leading natural gas producer, alone has reported an annual output rise of 10 billion cubic meters for two consecutive years, he said. "We will strive to keep the same growth rate this year," said Jia, a member of the 11th National Committee of the Chinese People's Political Consultative Conference, who is attending the annual political advisory session. His company produces about 75 percent of China's total natural gas output. Recent discoveries of new gas fields, including Jidong Nanpu Oil Field in north China's Bohai Bay, which contains 1.18 billion tons of oil and gas reserves, would boost China's natural gas sector and optimize its energy structure, said Jia. "China National Petroleum Corporation (CNPC) will probably announce the proven reserves of the Longgang gasfield in the southwestern Sichuan Province around the end of this year," he said. Industry insiders believe the Longgang gasfield contains at least 700 billion cubic meters of estimated reserves. China's natural gas output reached 69.31 billion cubic meters last year, up 23.1 percent year-on-year, according to China Petroleum and Chemical Industry Association. Listed in Hong Kong and New York, PetroChina Company Limited is the listing arm of China National Petroleum Corporation (CNPC), the largest oil producer of China.
Soaring global oil prices have led to small refiners drastically cutting down on production - forcing Sinopec to fill the void.Since the prices of refined oil products are set by the central government, the refiners - private or local-government-owned - find it unprofitable when the price of crude is as high as is now. Crude prices reached a record .80 a barrel at the New York close on Monday."Surging international crude prices are exerting mounting pressure on the local market (by discouraging small refiners). We are already running at full capacity to ensure fuel supply," Mao Jiaxiang, vice-president of Sinopec Economics & Development Research Institute, told China Daily Tuesday.Sinopec is Asia's top refiner, feeding the bulk of fuel consumption in China. But due to capacity limitations at its plants, there is a rising gap between demand and supply.Mao pointed out that fuel shortages are mainly triggered by the production drop at medium- and small-sized refiners scattered around the country, which contribute 5 to 10 percent of the country's supply.The National Development and Reform Commission (NDRC), the top economic planner, keeps a tight lid on domestic fuel prices to fend off inflation, only allowing refiners to set prices within an 8 percent band of a government-imposed benchmark.Sinopec will have more refining capacity on stream next year, which will help ease supply pressure, Mao said.This year, it is believed Sinopec may import more oil products from abroad if necessary. The company imported 60,000 tons of gasoline in September and sold it at a lower price.Gasoline retailers raised prices by 2.92 percent in the first nine months after crude costs climbed, the NDRC said in a statement on its website on Monday.However, the NDRC said last month that energy prices will not be raised "in principle" this year after the consumer price index (CPI) hit a 10-year high of 6.5 percent in August."As global crude prices and the CPI stay at high levels, it is possible for the authorities to seek a compromise by not raising fuel prices but giving subsidies to major refiners at the end of the year," said Niu Li, an economist with the State Information Center affiliated to the NDRC.
KUNMING - A comprehensive research and preservation facility for the germplasm of rare and endangered plants,wild animal species and microorganisms was completed on Sunday in southwest China's Yunnan Province. With an investment of 148 million yuan (US.5 million) over the past two years, the "Southwest China Germplasm Bank of Wild Species" facility was established by the Kunming Institute of Botany (KIB) with the help of the Chinese Academy of Sciences (CAS). "The bank will be a key player in China's biotech industry and a pioneer in the nation's biodiversity conservation and bioresource development strategy," Chen Zhu, vice president of CAS, said at the inauguration ceremony. According to the KIB, the bank sees itself as a leading storage facility of Asian species within 15 years of its foundation, and expects to make significant contributions to the development of the biotech industry and life science research by providing valuable resources, information and expertise. Within the next five years, the bank is expected to collect 6,450 wild species, 4,000 of which will be plant seed species. Within 15 years, its collection will reach 19,000 species. The bank comprises a seed section, an in-vitro micro-propagation unit, a microorganism bank, an animal germplasm bank, a DNA bank, an information center and a garden. Stretching across an undulating landscape and climatic zones ranging from the tropical to the frigid, Yunnan is home to a multitude of plant species linked together by a complex network of phylogenetic relations, and accounts for more than 50 percent of China's plant diversity.
在全球的电子制造商中,联想电脑在最新的环保评选中居榜首。AMSTERDAM, Netherlands - One of China's electronic maker has been seen by some as the greenest business in the world. Computer maker Lenovo ranked in at the top spot of environmental group Greenpeace's latest quarterly ranking of global electronics manufacturers. Once at the bottom of the list, Lenovo now leads the way in recycling industrial waste and taking steps on controlling toxic content, Greenpeace said. "Given the growing mountains of e-waste in China -- both imported and domestically generated -- it is heartening to see a Chinese company taking the lead, and assuming responsibility at least for its own branded waste," said Iza Kruszewska, Greenpeace International's toxics campaigner, adding that "the challenge for the industry now is to see who will actually place greener products on the market." Lenovo bought out IBM's personal computer division in 2004. Apple, meanwhile, was placed at the bottom of the list of 14 companies
The national urban and township unemployment rate was reduced to 4 percent last year, thanks to the creation of more than 12 million jobs and despite more people entering the workforce, a top labor official said yesterday.The number of jobs created exceeded the target of 9 million set at the beginning of last year, Zhai Yanli, vice-minister of Labor and Social Security, said at a press conference.Zhai said that by the end of the year, 99.9 percent of the country's 869,000 former "zero employment" families had succeeded in finding work for at least one member.Last year saw the total urban and township unemployment rate fall by 0.1 percentage points for the third year in a row.During the period of economic restructuring in the late 1990s, the rate rose to a high of 6 percent.Zhai attributed the decline to the country's economic growth and measures to stabilize employment. He said the rate will be held within 4.5 percent this year.Every year for the past decade, China has posted double-digit GDP growth. Between 1978 and 2006, the number of urban and township jobs rose from 95.14 million to 283.1 million.But the country continues to face employment pressure, with 10 million people entering the workforce every year between now and 2010, according to official figures.At the same time, the move away from labor-intensive industries in line with efforts to upgrade the economy and improve productivity will also mean fewer jobs being created in those industries, Chen Liangwen, an economics researcher at Peking University, said.Research by the Chinese Academy of Social Sciences has suggested the government look to create more jobs in the country's tertiary, or service, industries.While these already account for about 39 percent of the country's total jobs, the ratio in many developed countries is between 50 and 60 percent.Zhai also said the ministry is mulling over a new salary regulation, to guarantee steady pay rises."The regulation has been drafted and is now soliciting advice. It will be submitted to the State Council for deliberation after certain legislative procedures," he said.Labor experts have said the new regulation, together with the newly implemented Labor Contract Law, have helped China enter a new era of employer-employee relations by offering more protection for workers.Wen Yueran, an expert in labor relations from Beijing's Renmin University of China, said low salaries were a major factor in accelerating China's economic growth over the past two decades.The country's total wage payments fell to 41.4 percent of GDP in 2005, compared with 53.4 percent in 1990, according to figures from the National Bureau of Statistics.Workers will need some hefty pay rises if China is to increase its wages-to-GDP ratio to the 55 percent level of most developed countries, Wen told the 21 Century Business Herald.Low wages and slow pay increases have had a negative impact on society and cooled consumption, Chen said.Steady and rational pay rises will help stimulate domestic consumption, which fell to a record low of 51.1 percent of GDP in 2006, Chen said.