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CHONGQING, Dec. 16 (Xinhua) -- China has approved the establishment of a bonded area in southwestern Chongqing Municipality in an effort to boost the opening and development of central and western regions. Chongqing Vice Mayor Huang Qifan said Tuesday at a press conference here that the first inland bonded area had been approved by the State Council, or the Cabinet. The 8.37-sq km Cuntan Bonded Area centers both the Cuntan Harbor and the Jiangbei International Airport. The bonded area will be completed in 2015. "The Cuntan Bonded Area will be built into a multi-functional area with most advanced logistics and preferential policies," Huang said. "It will also become an accelerator for the opening upof central and eastern inland cities." The Chongqing Bonded Area Development Company and the area's administration commission will start operation on Thursday. Huang did not reveal the investment for the bonded area or its operation time. Bao Zichuan, chairman of the company, said the bonded area will focus on harbor business, air transport, foreign trade, export-oriented processing and commodity displays. Enterprises in the bonded area will enjoy such preferential policies as tax rebates for exports and free tax for trading within the area. So far, China has established ten such free trade zones in the coastal areas from north to south.
WASHINGTON, Nov. 16 (Xinhua) -- Chinese President Hu Jintao and Australian Prime Minister Kevin Rudd on Sunday pledged joint efforts to expand bilateral cooperation at their meeting here. The two leaders met on the sidelines of the Group of 20 (G20) summit on financial markets and the world economy. Hu said China and Australia are witnessing healthy and rapid development of bilateral ties, with ever deepening mutual understanding and trust. Marked achievements have been secured in the mutually beneficial cooperation in trade, energy, environmental protection, technology, education, culture, law enforcement and tourism, he said. Chinese President Hu Jintao (R) shakes hands with Australian Prime Minister Kevin Rudd during their meeting in Washington Nov. 16, 2008Bilateral trade is growing rapidly and negotiations on a free trade agreement are making steady progress, the Chinese president said. Hu said both sides are maintaining coordination on major global issues like climate change and the current financial crisis, and have seen increasing consensus and cooperation. He pointed out that China and Australia face unprecedented opportunities for deepening all-round bilateral cooperation in the face of many global challenges to the international community. China is ready to work with Australia to keep high-level contacts, enhance exchanges and dialogue and deepen mutual trust and cooperation on the basis of mutual respect, equality and mutual benefit, Hu said. Rudd said Australia hopes to elevate bilateral relations to the level of a strategic partnership. Australia is willing to open its doors to Chinese investment in the energy and raw material sectors and expects China to provide more opportunities for Australian products and services to enter the Chinese market, he said. Australia hopes to enhance high-level political dialogue with China in international organizations and international affairs, and strengthen bilateral and multilateral consultations and cooperation, Rudd said. The Chinese president described the G20 summit in Washington asa success and urged all sides involved to make joint efforts to implement the agreements reached at the meeting. He also called for strong measures to stop the financial crisis from spreading further and to restore confidence and market stability. All sides involved should adjust their macroeconomic policy and make full use of monetary and fiscal measures to promote growth and avoid a global recession, he said. There is a need to steadily push forward reforms of the international financial system to make it conducive to the stability of financial markets and economic growth, he said. China has adopted a series of measures to promote growth and boost domestic demand, Hu said, adding that these measures, while promoting China's economic growth, will also help stabilize the world economy. Hu also said the measures will provide new opportunities for Australian businesses and called on both sides to seize the opportunities to promote bilateral trade and economic ties. Rudd praised China's contributions to the positive outcome of the G20 summit and said China's recently-announced economic stimulus package is good news for both the Chinese and the world economy. He said China's policies during the Asian financial crisis in 1997 contributed to the economic recovery and growth of the region, and Australia sees favorably China's similar actions this time. Rudd expressed confidence that the current difficulties in the world economy will be overcome, and he said Australia hopes both sides will strengthen cooperation to jointly contribute to global economic growth. The United States is the first leg of President Hu's five-nation tour, which will also take him to Costa Rica, Cuba, Peru and Greece. During his stay in Peru, he will attend the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima.
BEIJING, Nov. 28 (Xinhua) -- The Political Bureau of the Communist Party of China (CPC) Central Committee convened a meeting here on Friday, analyzing and studying the economic work of next year and setting out major tasks. The meeting said that this year has been eventful and the country has risen to many daunting challenges, including the global financial crisis and domestic natural disasters. The economy has maintained a stable and relatively fast growth and society has been stable, which are hard-won achievements, it said. The meeting, chaired by CPC Central Committee General Secretary Hu Jintao, warned that the worsening global financial crisis would have more impact on China's economic development, urging the country to take more precautionary measures to meet the challenges. The meeting said that next year, which marks the 60th anniversary of the founding of New China, the nation should boost domestic demand for a stable and relatively fast economic growth, accelerate the transformation of development patterns and structure adjustment for sustainable development, deepen the reform and opening-up drive and solve problems that concern the people's interests for a healthy and rapid economic and social development. Maintaining a stable and relatively fast economic development should be the foremost task for next year's economic work, it said, urging a better combination of ensuring growth, boosting domestic demand and adjusting structure. An "active" fiscal policy and "moderately loose" monetary policy should be continued, and measures including tax reduction and increasing central government investment should be taken to safeguard the people's livelihood, stimulate domestic demand and transform development patterns, it said. Consumption, rural consumption in particular, should be actively boosted and a set of major projects on livelihood, infrastructure and environment protection should be launched. The position of agriculture as the foundation of the economy should be strengthened and agriculture production be boosted, it said. The stable growth of foreign trade should also be maintained. Structural adjustment should be accelerated, including developing the high-tech industry, small and medium-sized enterprises, the service sector and coordinating regional development. More progress should be made on energy saving and emissions reduction and pollution treatment be stepped up, the meeting urged. Rural reform and financial reform should be deepened, and people's livelihood should be improved and more jobs be created, it said. The meeting also agreed in principle suggestions on judicial reform by the CPC Central Political and Legal Affairs Commission. The reform should meet the judiciary needs of the people and aim at promoting social harmony, beef up measures to tighten the restraint on and supervision over the use of power, and remove barriers that hamper justice, it said.
BEIJING, Oct. 17 -- The government is ready to introduce a series of measures to cushion the impact of slower growth in foreign trade and industrial output caused by the global credit crisis, the vice-minister of the National Development and Reform Commission, said Thursday. Speaking at a press conference held by the State Council Information Office in Beijing, Du Ying said that as the global economy has slowed, foreign trade volume, value-added output and the profit growth of industrial firms based in China's coastal areas have shown a downward trend in the second half of the year. "The State Council is greatly concerned by the trend and is ready to introduce a series of measures," he said. But the full impact of the global financial crisis has yet to be seen, he said. "We must have a full picture of the difficulties and challenges," he said. The government has already taken several measures to combat the impact, including lowering the deposit reserve ratio, helping small- and medium-sized factories to upgrade their technologies, and introducing more favorable credit policies, Du said. He said he is confident China can weather the storm. "As in the past, China can overcome the challenges and difficulties and enter a new stage of development. I'm fully confident of that," Du said. With the global financial crisis continuing to escalate, China - the world's fourth largest economy - has seen its major economic indexes slide. The National Bureau of Statistics is due to release figures on Monday for the economic situation over the past three quarters. Some analysts have forecast that GDP growth might drop further in the third quarter, from 10.1 percent in the second quarter and 11.9 percent for the whole of last year. Yang Xiong, vice-mayor of Shanghai, said the city's industrial output growth fell to 6 percent last month from an average of 11.5 percent per month in the first three quarters. The financial hub remains in good shape, however, partly due to investments in preparation for the 2010 World Expo, he said. Zhao Kezhi, deputy governor of Jiangsu, said the province's trade figures were down 4 percent year-on-year in the first nine months. Chen Min'er, vice-governor of Zhejiang, said the province had witnessed "individual" cases of company failures, but denied media reports of widespread factory closures. Authorities will respond by trying to cut the tax burden on local firms, make more credit available and ensure a sufficient supply of land and power for manufacturers, Chen said, adding that now was a good time to weed out obsolete, polluting plants. On Wednesday, Zhou Xiaochuan, governor of the central bank, called for increased domestic consumption to counter the economic slowdown. "Due to the impact of various factors, we may need to increase domestic demand," he told Hong Kong-based Phoenix TV.
BEIJING, Oct. 17 (Xinhua) -- China issued new rules on reporting activities by foreign correspondents on its territory late Friday, allowing them to interview without application to foreign affairs departments. "The new rules follow the major principles and spirits of the media regulations introduced for the Beijing Olympics," Chinese Foreign Ministry spokesman Liu Jianchao said at a late night press conference. The conference began 15 minutes before the expiry of the temporary Olympic rules, which were introduced on January 1, 2007 and removed media restrictions on foreign reporters during the Beijing Games. "In the form of a long-lasting law, the 23-item new rules make that temporary arrangement a standard practice," Liu said. "The new regulations are significantly different from those issued in 1990," spokesman said. Foreign reporters wishing to interview organizations or individuals in China no longer need to be received and accompanied by the Chinese organizations, Liu said. It canceled an item in the old version that asked foreign reporters to get approval from the local government's foreign affairs department when they wanted to do reporting in the regions open to them. The new rules also lifted an item asking them to get approval from the Foreign Ministry when they wanted to visit the regions not open to them and register at the police. "Foreign reporters still need to ask for permission to do reporting in Tibet and other areas that are off-limits to foreign reporters, like some military facilities," Liu said. The 17th item of the new rules said foreign reporters need to gain agreement from the person or organization to be interviewed while they are working in China. According to the new rules, permanent offices of foreign media and reporters can "temporarily" import, install and use radio communication devices for news reporting after gaining approvals from the Chinese government according to laws. "China adopts a basic policy of opening up to the outside world, protects the lawful rights and interests of the permanent offices of foreign media organizations and foreign journalists in accordance with law, and facilitates their news coverage and reporting activities that are carried out according to law," the new rules said. The rules asked resident foreign reporters to apply for a press card to the Foreign Ministry or local foreign affairs departments within seven working days after their arrival in China. With press cards, they also need to get residency cards from the local police where they are to stay. Press cards of those who stay in China for less than six months every year will be revoked, the document said. Resident foreign reporters or those for short-term news reporting in China shall apply a journalist visa. The new rules do not ask resident foreign reporters to renew their press cards annually. Permanent offices of foreign media and reporters may hire Chinese citizens to do auxiliary work but have to hire them organizations designated by the Foreign Ministry or local governments to provide services to foreign nationals, according to the new rules. The new rules took effect from Oct. 17.