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BEIJING, March 11 (Xinhua) -- The producer price index (PPI), a major measure of inflation at the wholesale level, rose 5.4 percent in February from a year earlier, the National Bureau of Statistics (NBS) announced Thursday.It quickened from 4.3 percent in January this year, and 1.7 percent in December 2009, when the figure posted the first monthly rise since December 2008.

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. 25 (Xinhua) -- China's Ministry of Supervision said Thursday it would enhance supervision to key sectors and leading officials this year to ensure clean and efficient work in promoting the country's sound economic and social development.The supervision and examination would target corruption in project construction, real estate development and land management, as well as corruption behind major accidents, the ministry said in a circular outlining major works in 2010.The ministry would investigate officials who meddled in construction projects against relevant regulations to seek personal gains, staff of supervisory organs who were negligent of duty or took bribes, and those who involved in serious commercial bribery cases, the circular said.The ministry vowed "zero tolerance" for these cases, it said.The ministry promised to step up its efforts this year to ensure the implementation of the central government's major arrangements for accelerating the adjustment of economic growth mode and promoting steady and fast economic development.It would also strengthen supervision and examination to make sure local governments will take measures to check the rocketing real estate price in some cities to ensure the sector's healthy development, it said."Lazy and incapable" officials would also be targeted in the supervision to ensure efficiency of government work, according to the circular.China has intensified its fight against corruption recently.In its latest effort, the Communist Party of China (CPC) Central Committee Tuesday listed 52 unacceptable practices in an ethics code for CPC cadres to follow.The code forbids conducts including accepting cash or financial instruments as gifts, and using their influence to benefit their spouses or children with regards to their employment, stock trading or business.

VLADIVOSTOK, Russia, March 20 (Xinhua) -- China and Russia pledged here Saturday to further interregional cooperation with each other and signed a series of cooperation deals.Governor of Russia's Primorsky Territory Sergey Mikhaylovich Darkin and visiting Chinese Vice-President Xi Jinping met here and exchanged views on the development of bilateral ties and cooperation between neighboring regions of the two countries. Chinese Vice President Xi Jinping (R, front) shakes hands with Sergei Darkin, governor of Russia's Primorsky region, in Vladivostok, Russia, March 20, 2010Xi told Darkin making the Primorsky Territory the first leg of his Russian tour was to boost the interregional cooperation between China and Russia to a wider and deeper level, as agreed by leaders of both sides.Conditions were already mature for the development of interregional cooperation between the two countries, Xi said. Chinese Vice President Xi Jinping (3rd R, front) meets with Sergei Darkin (3rd L, front), governor of Russia's Primorsky region in Vladivostok, Russia, March 20, 2010While the settlement of border issues and the approval of a cooperation plan outline had laid a political and legal basis for cooperation, the strong will of working hand in hand by the government and enterprises on both sides was also making it possible, the Chinese leader said.Xi said, as both economies were developing quickly, he hoped China and Russia could seize the opportunity to obtain early achievements through interregional cooperation, and to realize the upgrading of the strategy for such cooperation to bring benefits to people living in the bordering areas.Darkin said the Primorsky Territory, as China's closest neighbour, had achieved in recent years closer trade and economic ties with China's northeast border region.The governor said Chinese companies were welcome to invest in the Primorsky Territory and to see it as a bridge for their products to reach Europe.He also expected both sides to further cooperation in such areas as agriculture, energy, finance and service industries.Later in the day, China and Russia signed 15 cooperation documents totalling 1.6 billion U.S. dollars covering economic, technological, energy and infrastructure cooperation.The agreements were signed after Xi held a meeting on strengthening China-Russia interregional cooperation, known as the symposium on China-Russia Ussuriysk economic and trade cooperation area.At the meeting, Xi heard reports given by top leaders from the Chinese Ministry of Commerce, China's Heilongjiang Province and Wenzhou City and Chinese enterprises.Xi said Russia's Far East area and China's northern frontier provinces were important trading partners and should enhance bilateral cooperation.This would not only promote economic and social development and improve the livelihoods of people in the neighboring regions, but also inject powerful energy into the development of the bilateral strategic cooperative partnership between the two countries, he said.Xi arrived in Vladivostok on Saturday for a five-day official visit to Russia. He will later travel to Belarus, Finland and Sweden.

BEIJING, March 6 (Xinhua) -- Foreign scholars and journalists were generally positive in reviewing the government's strategies and outlined the challenges ahead as Chinese Premier Wen Jiabao's government work report delivered Friday caught wide attention across the world.Hong Pingfan, chief of the global economic monitoring center of the UN Department of Economic and Social Affairs, said the year 2009 saw the world mired in the first global economic recession since World War II.It was against this background that China launched a massive fiscal stimulus package as part of its strenuous efforts to tackle the crisis, successfully achieving 8 percent growth for the year, he said."China has not only realized its own economic growth, but also boosted the confidence of other countries to deal with the financial crisis, giving an impetus to the world economic recovery," he added.Marcio Pochmann, director of Brazil's Institute of Applied Economic Research, said China's achievements were closely related to the government's role."Countries that were more able to cope with the crisis and emerge from it were those with an organized government and with public policies adequate to the moment of crisis," he said.The Chinese government responded quickly, adopting favorable macro-economic policies and asking major state-owned banks to inject capital into the domestic market, he said.Japanese research fellow Takashi Sekiyama, from the Tokyo Foundation Policy Research Division, said China's home appliance subsidy programs in rural areas and tax cuts on small cars encouraged consumption.China's stimulus policies contributed to the swift expansion of investment, he said, adding the Chinese economy's vigorous growth had greatly helped the world economy.Belgian-Chinese Chamber of Commerce Chairman Bernard Dewit said it was far-sighted for the Chinese government to announce the acceleration of the transformation of the economic growth pattern. In the long run, China couldn't develop its economy continuously only by exporting low-end products such as T-shirts, he said, adding China had to produce more high-end products with high added value.BBC Chinese Director Li Wen said the Chinese government had to change local officials' views on how to evaluate their achievements in their posts in order to transform the economic growth pattern.The current situation where officials' achievements were mainly linked to GDP and fiscal revenue should be changed so that local officials would not only pursue rapid economic increase, he said.