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HANGZHOU, Oct. 29 (Xinhua) -- China and the United States said Thursday they would not stage any new trade protection measures against each other, a significant step which lays the groundwork for the presidential summit next month.     "Both sides agreed on not introducing any new trade protection measures against each other as both vowed to oppose trade and investment protectionism and observe the related consensus of the G20 summit," Chinese Commerce Minister Chen Deming said later Thursday. Delegates attending the 20th China-US Joint Commission on Commerce and Trade (JCCT) pose for a group photo in Hangzhou, capital of east China's Zhejiang Province, Oct. 29, 2009. China and the United States on Thursday started their annual trade talks in Hangzhou. Chinese Vice Premier Wang Qishan co-chaired the meeting with Commerce Secretary Gary Locke and Trade Representative Ron Kirk of the United States. The JCCT began in 1983 as a platform for both countries to promote trade and address issues of mutual concernChen made the remarks at the end of the 20th China-U.S. Joint Commission on Commerce and Trade (JCCT) talks in China's eastern city of Hangzhou.     The comments also came at a time of increasing China-U.S. trade disputes in the past months, involving Chinese tires, cement products, U.S. poultry and others.     "The pledge is significant as it shows both countries' determination to dump punitive measures against each other and instead seek common prosperity," Niu Xinchun, a research fellow with China Contemporary International Studies Institute, told Xinhua.     "As influential powers, China and the United States should stand firmly against all types of trade protectionism, promote both countries' economies and help lift the world out of recession," Chinese Vice Premier Wang Qishan told the opening session of the JCCT Thursday noon.     Wang co-chaired the 20th JCCT talks with U.S. Commerce Secretary Gary Locke and U.S. Trade Representative Ron Kirk in a lakeside garden compound in the capital of east China's Zhejiang province.     Locke highlighted the significance of this year's talks, saying it is the first JCCT meeting of President Obama's administration and comes a few weeks ahead of President Obama's first visit to China.     Wang said President Obama's visit in mid November will "provide new opportunities for China-U.S. cooperation."     "In a spirit of candor and understanding, hopefully both sides will discuss issues of mutual concern and achieve fruitful results at today's JCCT meeting," Wang said.     "It is critical that we make definite, concrete, demonstrable progress today to demonstrate that U.S. and China can work together to achieve results from the JCCT," Locke said.     Later Thursday, the U.S. commerce chief lauded the one-day JCCT talks as "successful," as both sides "made very significant progress on a number of issues."     Locke said China will drop a requirement that most of the components of wind power-related equipment be made in China.     "The United States agreed to delete some articles in its bill which limited China's poultry exports for six years," Chinese Minister of Agriculture Sun Zhengcai said in response to a Xinhua's question.     In return, China will resume imports of pork products from the A/H1N1 flu-hit areas in the United States, Sun said.     As for trade imbalance, China's commerce chief said both sides agreed at the JCCT talks that the solution was not to limit China's exports to the United States, but strike a balance by aggressively boosting bilateral trade.

BEIJING, Dec. 12 (Xinhua) -- China should take more forward looking and preemptive measures to fight inflation expectations following this year's credit boom and runaway property prices, said a report released by a leading Chinese bank.     Bank loans should be extended at a more reasonable pace with improved structures next year and policy fine-tuning is necessary, the Bank of Communications has said in a report released by its financial research center.     The government should maintain the continuity and stability of its monetary policy and meanwhile be more targeted and flexible, it said.     The report noted an over brisk equity and property market are always prelude of inflation. Money flow should be regulated to prevent asset bubbles.     It also suggested government increase supply of land resources and affordable housing and crack down on land enclosure to curb skyrocketing property prices which gained the most in 14 months in November.     CPI, the main gauge of inflation, jumped 0.6 percent in November from a year ago, the first monthly growth since January, because of lower statistical bases and rising food prices.     The producer price index (PPI), a major measure of inflation at the wholesale level, declined 2.1 percent in November from a year earlier.     The report expected PPI to end monthly drop in December, and the annual CPI decline to narrow to 0.8 percent.     Hyperinflation is unlikely and CPI is predicted to rise four percent next year, it said.

BEIJING, Nov. 17 (Xinhua) -- The United States and China, the world's first and third largest economies, have pledged to rebalance each other's economy and move in tandem on forward-looking monetary polices for a strong and durable global economic recovery, according to a China-U.S. joint statement released here on Tuesday.     The statement, issued after talks between Chinese President Hu Jintao and his U.S. counterpart Barack Obama, has climaxed the latter's first China trip since he took office in January.     "China will continue to implement the policies to adjust economic structure, raise household incomes, expand domestic demand to increase contribution of consumption to GDP growth and reform its social security system," said the statement.     The United States, in return, will take measures to increase national saving as a share of GDP and promote sustainable non-inflationary growth.     "To achieve this, the United States is committed to returning the federal budget deficit to a sustainable path and pursuing measures to encourage private saving," it said.     President Obama made it clear at an earlier press conference Tuesday afternoon that the rebalancing strategy would require America to save more, reduce consumption and reduce long-term debts.     The statement also said that both sides will pursue forward-looking monetary policies and have "due" regard for the ramifications of those policies for the international economy.     The two also agreed to expedite negotiation on a bilateral investment treaty, and work proactively to resolve bilateral trade and investment disputes in a constructive, cooperative and mutually beneficial manner.     Recognizing the importance of open trade and investment to their domestic and the global economies, the two are committed to jointly fight protectionism in all its manifestations.     "We both agreed to properly handle trade frictions between the two countries through negotiations on an equal basis, and to make concerted efforts to boost bilateral trade and economic ties in a healthy and steady way," said President Hu.     "I stressed to President Obama that under the current situation, both China and the United States should oppose and reject protectionism in all forms in an even stronger stand," he said.     The two sides also reiterated that they would continue to strengthen dialogue and cooperation on macro-economic policies and pledged to honor all commitments made at the first round of the Sino-U.S. Strategic and Economic Dialogue last July, the Group of 20 summits, and the recently concluded APEC Economic Leaders' Meeting in Singapore.     The statement said that both sides commended the important role of the three G20 summits in tackling the global financial crisis, and were committed to work with other members of the G20 to enhance the G20's effectiveness as the premier forum for international economic cooperation.     China and the United States also agreed to work through a cooperative process on mutual assessment to make the G20 Framework for Strong, Sustainable and Balanced Growth a success.     The statement said that both sides welcomed recent agreements by the G20 to ensure that the International Financial Institutions (IFIs) have sufficient resources and to reform their governance structures.     "The two sides stressed the need to follow through on the quantified targets for the reform of quota and voting shares of IFIs as soon as possible, increasing the voice and representation of emerging markets and developing countries in these institutions consistent with the Pittsburgh Summit Leaders Statement," it said.

BEIJING, Jan. 10 -- Shanghai has set a GDP growth rate target for the year of more than 8 percent, almost the same as 2009's economic development rate.     Party Secretary Yu Zhengsheng yesterday announced the target at a one-day session of the Shanghai Committee of the Communist Party of China.     He added the growth rate of value-added output from the service industry should be much higher than the GDP rate.     The city didn't set a higher GDP goal because it wanted to put more effort into restructuring the economy than simply seeking more GDP growth, Yu told the meeting.     The city's GDP growth was estimated to be more than 8 percent last year, a little lower than the average national level. Total retail sales of consumer goods rose by about 14 percent and growth of fixed assets investment was around 10 percent in 2009.     Yu said the targeted rate was a suitable development speed for Shanghai, which was hit by the global financial crisis during its economic restructure transition.     He told the session that the World Expo 2010 Shanghai was the most important task for the government this year.     It requires not only coordination of all districts and departments but also active participation and devotion by citizens, he said.     "We should spare no efforts to ensure a successful, wonderful and unforgettable Expo," he said.     "We should make full use of the opportunity to stimulate investment and consumption, enhance friendly cooperation with the world and build a city with international influence."     Yu emphasized the importance of security during Expo. He requested government officials to strengthen anti-terrorism efforts, guarantee food and drug safety and quality, and keep monitoring and preventing public health events, such as outbursts of swine flu.     To enhance transport during Expo, the government will continue a series of infrastructure works. More Metro lines and cross-river projects will be completed this year.     Construction of the Bund, Shanghai-Nanjing inter-city railway and the Hongqiao transport hub are planned to be finished this year.     Yu stressed that government officials should consider people's interests at all time and listen to their advices. He said the government should reduce impact on life during Expo as much as possible.     Also, Yu said regulation and control in the real estate market will be improved to help it develop in a healthy and sustainable way. And 500,000 new jobs will be created to keep the unemployment rate around 4.5 percent.

BEIJING, Nov. 8 (Xinhua) -- Chinese President Hu Jintao on Sunday called for a "new chapter" of the development of the People's Liberation Army (PLA) air force.     Hu met with representatives of senior officers, role models and pilots of the PLA air force. Chinese President Hu Jintao (L front) meets with heroes of the Chinese Air Force on the occasion of the 60th anniversary of the founding of China Air Force in Beijing, China, Nov. 8, 2009The PLA air force have made huge progress in its own development over the past six decades, with remarkable contributions to the protection of China's sovereignty, safety, territorial integrity as well as to the socialist modernization of the country, Hu said.     China's national defense and the modernization of its army are facing new situations and new tasks, Hu said.     The air force have also entered a key phase of development, Hu said, urging them to develop systematic capabilities for both offensive and defensive operations.     This year marks the 60th founding anniversary of the PLA air force

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