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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, Oct. 1 (Xinhua) -- Some 53.2 million people hit the roads in China on Wednesday, the third day of the "golden week", said a Ministry of Transport (MOT) spokesman. Although that figure was an increase of 5.1 percent year-on-year, it was 4.2 percent lower than Tuesday's 55.5 million, because most travelers began their journey in the first two days of the holiday, he said. The "golden week" National Day holiday this year runs from Sept. 29 to Oct. 5. The spokesman said 740,000 medium-sized and large vehicles were used to move travelers around the country on Wednesday, compared with Tuesday's 760,000 vehicles. People watch the national flag raising ceremony at the Tian'anmen Square in Beijing, capital of China, Oct. 1, 2008. Some 53.2 million people hit the roads in China on Wednesday, the third day of the "golden week", said a Ministry of Transport (MOT) spokesman The transportation situation nationwide remained stable on Wednesday, and there were no serious traffic accidents. Trains transported 5.83 million people on Tuesday, up 19.6 percent from a year earlier, according to the Ministry of Railways. Some 920,000 people traveled by water on Wednesday, up 1.1 percent over the same day last year, said the MOT.
BEIJING, Aug. 8 -- China's consumer inflation may continue to decline in July, marking the second consecutive month this year that it has dropped, according to economists' estimates. That may mean a departure from the rising spiral of inflation after it peaked at an annualized 8.7 percent in February. Lehman Brothers economist Sun Mingchun said his team's research found the July consumer price index (CPI), the main barometer of inflation, may drop to 6.7 percent year-on-year from 7.1 percent in June. The domestic Bank of Communications research arm said the figure could fall at 6.4 percent, which is also the estimate of Southwest Securities. China's consumer inflation may continue to decline in July, marking the second consecutive month this year that it has dropped, according to economists' estimates. One of the reasons why prices are stable is that there has been no flooding, a regular feature of the rainy seaon, said Sun of Lehman Brothers. Daily price data from the Ministry of Agriculture and the National Development and Reform Commission show that agricultural product prices rose only slightly in July while meat prices fell. Weekly price data released by the Ministry of Commerce also showed a moderate decline in food prices. The relatively high statistical base of last July also contributed to the drop in inflation this July, said Guo Tianyong, economist with the Central University of Finance and Economics. China's CPI hit 5.6 percent year-on-year last July, the first time it reached the 5-percent level that year. "If no major natural disaster hits China in August, CPI could fall below 6 percent in August, providing more room for the government to remove its price controls," said Sun. Economists said that without many unexpected incidence, it will gradually ease to around 5 percent by the year-end. A possible price liberalization of oil products, however, should not be a one-off adjustment, which will put a huge pressure on the country's battle against inflation, Guo said. China raised the prices of oil products and electricity late June. Analysts said that once the inflation pressure eases, policymakers may start a second round of price liberalization, which may lead to a rebound in CPI. If such liberalization moves are indeed made, they should be done in phases, not in one go, said Guo. Only that will ensure inflation does not peak again, as it did in February. The pressure from the rising producer price index (PPI), which gauges ex-factory prices and influences CPI, may be a concern, but even taking into consideration its impact, consumer inflation may no longer exceed the February peak in the coming months and the first half of next year "The worst times are behind us," said Dong Xianan, macroeconomic analyst with Southwest Securities. "From the second half of last year, the tightenting stance had been obvious, which is a pre-emptive move to ensure the current easing of inflation." Macroeconomic growth The economic growth may gradually slow down in the rest of the year, analysts said, but the fine-tuning of policies would shore it up. Dong from Southwest Securities forecasts that given the current growth momentum, the whole-year figure for GDP growth may be 10.1 percent, well below the 11.9 percent of last year. Other estimates are around the 10 percent mark. The global economic slow-down, which reduces external demand for China's exports, will bring much trouble to China, but its domestic consumption and investment will remain stable, analysts said. More importantly, the central authorities may adjust its tight policies to cater to individual demand of regions and sectors that have found it difficult to survive the tightened policies.
SKOPJE, Sept. 15 (Xinhua) -- Visiting Chinese Vice Premier Zhang Dejiang met here on Monday with Macedonian President Branko Crvenkovski with both sides vowing to boost cooperation between the two countries. "China attaches great importance to the bilateral relations with Macedonia, and regards Macedonia as a trust-worthy partner in the west Balkans," Zhang said. Zhang pointed out that the bilateral relations between the two countries have made positive progress during the past 15 years, and that economic cooperation and exchanges in the fields such as culture, education and sports have witnessed new development. Zhang said China is ready to broaden the areas of cooperation between China and Macedonia on the basis of mutual respect and mutual benefit, and lift the bilateral relations to a new level. He suggested the two countries should find new areas of cooperation, and push the companies of the two countries to develop cooperation in different forms and through various conduits. Zhang expressed thanks and gratitude to Macedonia for its stance on one-China policy and its support for China's cause of peaceful unification with Taiwan. Crvenkovski said Macedonian highly values its relations with China, saying that Macedonia will unswervingly stick to its one-China policy. "We are ready to work with China to strengthen the cooperation between the two countries in the areas of politics, trade and economy, and international affairs, pushing the bilateral relations forward," Crvenkovski said. Crvenkovski congratulated China on staging a wonderful Olympic Games in Beijing, and thanked China for its long-time help and support for Macedonia.
JIUQUAN, Gansu, Sept. 23 (Xinhua) -- The crew of China's Shenzhou-7 space mission is scheduled to meet the press at 17:30 on Wednesday. In addition, the headquarters of China's third manned space mission will hold another press conference at 14:30 Wednesday. The crew, who will conduct the first Chinese space walk, is waiting for a launch window at Jiuquan Satellite Launch Center in northwestern Gansu Province. Depending on weather, the launch is scheduled between Sept. 25 and 30. The undated photo shows technicians help the Shenzhou-7 manned spaceship to dock with the Long-March II-F rocket at an assembly plant. The spaceship has been finished docking with the rocket recently. The Shenzhou-7 spacecraft will send three Chinese astronauts who will make a historical spacewalk. Six Chinese astronauts are ready for the mission, three pilots who will finally be aboard and three substitutes. However neither the military or the mission's headquarters has officially released their identities, even though many local websites had reported various stories on six favorites. According to the headquarters' release, three pilots and three substitutes said they were fully confident to successfully accomplish the mission. After three hours of tests and safety examinations in the last rehearsal on Monday, the mission has been given the green light. Scientists working for the mission said on Tuesday that the carrier rocket of the spacecraft was ready to be fueled, bringing the launch to the countdown status.