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COPENHAGEN, Dec. 17 (Xinhua) -- Chinese Premier Wen Jiabao said on Thursday that China is not obliged to subject its voluntary climate action to international monitoring.     Wen made the remarks when meeting with some world leaders on the sidelines of the ongoing UN climate change conference in the Danish capital, Chinese Vice Foreign Minister He Yafei told reporters. The Bali Action Plan has clear stipulations regarding whether a country's mitigation action should be subject to international scrutiny, He Yafei quoted Wen as saying.     "For developing countries, only those mitigation actions supported internationally will be subject to the MRV. The voluntary mitigation actions should not be subject to international MRV," Wen said, referring to the scheme requiring national mitigation action to be "measurable, reportable and verifiable." Chinese Premier Wen Jiabao (3rd, R) poses for a group photo with President of the Maldvies Mohammed Nasheed (3rd, L), Bangladeshi Prime Minister Sheikh Hasina (2nd, L), Ethiopian Prime Minister Meles Zenawi (2nd, R), Grenadian Prime Minister Tillman Thomas (1st, R) and Sudanese Presidential Assistant Nafie Ali Nafie (1st, L) ahead of their meeting in Copenhagen, capital of Denmark, on Dec. 17, 2009.    Negotiators from more than 190 countries are running against time on Thursday to wrap up the 11-day talks, hoping to seal a deal to move forward the global fight against climate change before world leaders meet on Friday.     The Bali Action Plan, adopted by both developed and developing countries in 2007, lays down the basis for the current negotiations.     Disregarding what they have agreed, developed countries are trying to press China to accept international monitoring of its national mitigation action.     The United States said on Thursday it was prepared to join other rich countries in raising 100 billion U.S. dollars annually by 2020 to help developing countries combat climate change, but set a condition that emerging countries including China should accept international monitoring of its mitigation action. Chinese Premier Wen Jiabao (R) shakes hands with German Chancellor Angela Merkel in Copenhagen, Denmark, Dec. 17, 2009Wen said China's refusal of international monitoring does not mean the country is afraid of supervision.     "It is a matter of principle, the principle of common but differentiated responsibilities," Wen said.     As the climate change negotiations dragged on, Wen said the important thing is to take action.     "A dozen declarations are not worth one action, meaning action speaks louder than declaration," the premier said, calling for mutual trust.     "Mutual trust is extremely important. We should not go for suspicion. We should not go for confrontation. We should go for cooperation," he said. Chinese Premier Wen Jiabao (R) shakes hands with British Prime Minister Gordon Brown in Copenhagen, Denmark, Dec. 17, 2009Wen said China will take necessary domestic measures to ensure full transparency and implementation of its national mitigation action.     "As Premier Wen has decided, the mitigation action we have set for China will be fully guaranteed legally, domestically," He Yafei said. "There would be a monitoring and verification regime inside China, which is legally binding in China."     The Chinese government recently announced a plan to reduce the per unit of GDP energy consumption by 20 percent till 2010, and it is poised to put the target into its national social and economic development plan.     Wen said China would also consider dialogue and cooperation with other countries, warning there should be no infringement on China's sovereignty.     "We promise to make our action transparent. We promise the implementation of action," Wen said. 

BEIJING, Dec. 23 (Xinhua) -- China's Supreme People's Court (SPC) on Wednesday published two regulations, pledging to improve media supervision and public access to the courts' case filing, trial, hearing and law enforcement process, as well as to the verdict documents and court affairs.     The two regulations were aimed to improve judicial democracy, ensure judicial justice, and protect the legitimate rights of the litigants and defendants involved, said Sun Jungong, spokesman of the SPC, during a press conference.     According to the regulations, people involved in lawsuits would have access to all relevant information when filing a lawsuit, and would be kept informed of important information during the law enforcement process.     In open-trial cases, the public and journalists could attend the trials after safety checks.     The courts' verdict documents would be published online if they did not include state secrets, teenage criminal records, personal privacy or other contents inappropriate for publication, while the courts' affairs would also be made public.     Meanwhile, the regulations said journalists might face criminal charges if they disclose state or business secrets, impair national and social interests, distort facts when covering on-going trials, violate the reputation rights of judges or people involved in lawsuits, or conduct any other activities that may harm judicial justice.

BEIJING, Oct. 26 -- Delegations from more than 84 countries and regions will participate the ITD conference Monday, and a host of international experts from governments, the private sector and academia will make presentations and lead discussions on this important topic.     The ITD is a cooperative venture formed in 2002 and comprised of the International Monetary Fund (IMF), the Organisation for Economic Cooperation and Development (OECD), the World Bank, the Inter-American Development Bank, the European Commission and the UK Department for International Development.     Its purpose is to foster dialogue on important topics in tax policy and administration and to function as a disseminator and repository of information on matters of interest in taxation around the world, through its website, www.itdweb.org.     The IMF attaches great importance to its role as a founding member of the ITD. Recent events in the world economy have made even clearer the necessity of international cooperation and sharing experience in economic matters, and this is the very purpose, which the ITD serves.     The topic of this conference is a timely and critical one. The world has been reminded recently and forcefully of the great importance of the financial sector for macroeconomic stability, growth, and development goals. The sector plays a critical intermediating function - without it credit could not exist, capital could not be channeled to useful purposes and risks could not be managed.     The conference will take place against the background of the worst financial and economic crisis to strike the world in three generations, and, while taxation was not itself the cause of the crisis, elements of the tax system are relevant to its background and resolution.     Most tax systems embody incentives for corporations, financial institutions and in some cases individuals to use debt rather than equity finance.     This is likely to have contributed to the crisis by leading to higher levels of debt than would otherwise have existed - even though there were no obvious tax changes that would explain rapid increases in debt. Tax distortions may also have encouraged the development of complex and opaque financial instruments and structures, including through extensive use of low-tax jurisdictions - which in turn contributed to the difficulty of identifying true levels of risk.     The magnitude of the fiscal challenges facing the world economy is greater than at any other time since World War II.     Estimates done by IMF staff on the fiscal adjustment necessary to bring government debt-to-GDP ratios down to 60 percent by 2030 - over 20 years hence - show a gap in the cyclically adjusted primary balances of some 8 percentage points of GDP in advanced economies to be closed between 2010 and 2020.     This cannot all be accomplished by expenditure reduction. New, or increased, sources of revenue will need to be found, on average perhaps 3 percentage points of GDP. While improvements in compliance and administration could account for some of that gap, it will be necessary to adjust tax policies to a degree not hitherto seen on a wide scale.     Although the world economy remains weak with downside risks and much hardship remain, signs of improvement are thankfully now visible.     This is an opportune juncture, therefore, to begin the work of planning countries' exits from the deteriorated fiscal positions developed in response to the crisis, and to give thought to questions raised by the performance of the financial sector in triggering the crisis.     What role can better tax policies and administration play in preventing a recurrence of this costly episode in economic history?     The financial sector has been, and must continue to be, a critical link in the development of the world's economies. The sector has played a key role in accelerating the development of the emerging markets - many of which, prior to this most recent episode, had grown able to tap the world's financial resources at an increasing rate unparalleled in history.     And for the world's most vulnerable economies, continued financial deepening will be absolutely necessary to permit them to meet their development goals. The upcoming conference will consider the role of taxation in both the industrial and developing countries with respect to these goals.     The conference will address not only the role of the financial sector as a source of revenue itself, and its broader role in the development and growth of the world economy, but also its function in assisting in administration of the tax system-through information reporting, collection of tax payments, and withholding.     This latter role will become ever more important with growing international cooperation in fighting tax evasion and avoidance.     Finally, we must not lose sight of the main function of the tax system - to raise revenue in an economically efficient, non-distortionary, and administratively feasible manner.     Even fully recognizing the existence of both market failures and policy-induced vulnerabilities, including those that contributed to this crisis, it is important to avoid accidentally introducing distortions through the tax system that may prove worse than the evils they are intended to remedy.     "Neutrality" of taxation of the financial sector in this sense is a benchmark against which deviations from this objective may be measured and judged.     One must ask whether any proposed interventions are targeted at a recognized externality or existing distortion, and, if so, whether the proposed action is the most appropriate response. And the multilateral institutions, in particular, must look to the effects which the financial sector and its taxation may have not only on the world's highly developed economies-those with the greatest depth of financial intermediation-but at the effects, direct and indirect, on the world's developing nations.     International cooperation on these matters will be critical to making improvements that will benefit all of us. This week's important event, hosted by the Chinese government and organized by the ITD, is itself a model in this regard.

TORONTO, Dec. 29 (Xinhua) -- The emerging markets of China, India and Brazil will lead the way in global auto sales in 2010, a report said Tuesday.     The U.S. market, meanwhile, was expected to see a double-digit increase and will lead the growth of mature markets in 2010, said the global auto report by Canadian Scotiabank Economics.     The report said that a cyclical recovery in global auto sales began in the spring of 2009 and would gain momentum in 2010.     China became the world's largest auto market in 2009, surpassing purchases in the United States. Car sales in China surged by more than 40 percent to 7.3 million units this year thanks to government incentives.     The incentives included a reduction in sales tax from 10 percent to 5 percent for small fuel-efficient vehicles with engines less than 1.6 litres.     The incentives were expected to lift sales by 20 percent to nearly 9 million units in 2010, the report said.     "Global car sales will continue to be buoyed by the ongoing massive and synchronized monetary and fiscal stimulus, which has generated a global economic recovery, including improving auto lending across the globe," said Carlos Gomes, senior economist at Scotia Economics.     "In fact, we estimate that auto loans across major markets bottomed in the first quarter of 2009 and have improved consistently alongside a thawing in global credit markets and falling interest rates," he said.     According to the report, improving access to credit and a return to 3-percent growth in the world economy will enable 2010 car sales to recapture half of the ground lost over the past two years, and set the stage for record volumes in 2011.     Auto sales in the United States have reversed the downward trend, with volumes advancing above a year earlier since August alongside a nascent economic recovery.     The report also predicted that through a vehicle scrappage program to spur the market, auto sales in Canada would reach 1.53 million units in 2010, up from 1.45 million this year.     "On average, 7 percent of the Canadian fleet is replaced each year," Gomes said. "However, the scrappage rate slumped to less than 6 percent in 2009, as the global economic downturn prompted Canadians to tighten their wallets and continue to drive their aging vehicles.

BEIJING, Oct. 30 (Xinhua) -- China on Friday voiced its strong dissatisfaction and firm opposition to an EU statement which denounced the execution of two Tibetans convicted of murder in last year's Lhasa riot.     The Swedish EU presidency released a statement Thursday, denouncing the recent death penalty handed down to two Tibetans involved in the Lhasa riot and asking China to abolish the capital sentences.     "We are strongly dissatisfied with and firmly oppose the EU statement," Chinese Foreign Ministry spokesman Ma Zhaoxu said in a news release.     The Lhasa violence involving beating, smashing, looting and burning in 2008 was a sabotage activity "premeditated, organized and masterminded" by the ** Lama group, who instigated Tibetan separatists in and out of China to fuel up the incident, Ma said.     China's legal institutions have carried out fair and open trials and brought only the culprits of the criminal activities to justice, he said. "This was China's internal affair and judicial sovereignty which allows no other country to interfere with."     China asks the EU to abide by the principles of equality and mutual respect and not to send any misleading signals to Tibetan separatists, so as to ensure sound and stable development of EU-China relations, Ma said.

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