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BEIJING, Aug. 23 (Xinhuanet) --Traffic authorities were still struggling to cope with days-long congestion on a major national expressway, nine days after traffic slowed to a snail's pace, and nearby residents are profiting on the latest traffic snarl by overcharging drivers for food.Since August 14, thousands of Beijing-bound trucks have jammed the expressway again, and traffic has stretched for more than 100 kilometers between Beijing and Huai'an in Heibei Province, and Jining in Inner Mongolia Autonomous Region, China National Radio (CNR) reported Sunday.Small traffic accidents or broken-down cars are aggravating the jam, the report said."Insufficient traffic capacity on the National Expressway 110 caused by maintenance construction since August 19 is the major cause of the congestion," a publicity officer with the Beijing Traffic Management Bureau, told the Global Times on condition of anonymity Sunday.Under current traffic regulations, the National Expressway 110 (G110), heading northwest from Beijing to Zhangjiakou in Hebei Province, and then heading directly west, is available to trucks with a carrying capacity of eight tons and above. The road suffered serious damage due to the greater volume of heavy trucks.This month there have been more trucks carrying excessive coal or fruit, but the Beijing section of the Beijing-Tibet Expressway is available only to trucks with a weight of less than four tons.The congestion is expected to last for almost a month, since the construction is due for completion September 13.Traffic congestion and road safety have become major concerns for Chinese motorists.For drivers, suffering the congestion on the Beijing-Tibet Expressway is nothing new. In a similar scene this July, traffic was also reduced to a crawl for nearly one month.Some killed time by playing cards, while some could only wait idly by.In the latest bout of congestion on the Huai'an section, a truck driver surnamed Huang, told the Global Times that he suffered "double blows.""Instant noodles are sold at four times the original price while I wait in the congestion," he said.

BEIJING, July 10 (Xinhua) -- China's trade surplus fell by 42.5 percent in the first six months this year from a year earlier to 55.3 billion U.S. dollars, the General Administration of Customs (GAC) said Saturday.In the first half of 2010, exports rose 35.2 percent to 705.09 billion dollars while imports were up 52.7 percent to 649.79 billion dollars, the GAC said in a statement posted on its official website.China's foreign trade in the first half totaled 1.35 trillion dollars, a year-on-year increase of 43.1 percent, after the country saw its June exports and total trade both reach record highs, the GAC said.In June, exports were up 43.9 percent to 137.4 billion dollars while imports were 117.37 billion dollars, up 34.1 percent year on year, resulting in a total trade value of 254.77 billion dollars, the GAC said.The June exports increased 4.3 percent from May and the imports were 4.6 percent higher from the last month, according to the statement.However, the pace of growth in exports and imports were both slower than in May when exports surged 48.5 percent and imports jumped 48.3 percent from a year earlier.Bi Jiyao, a senior researcher with the research institute under the National Development and Reform Commission, said the strong figures partly stemmed from the low comparison base last year.In the first half of 2009, China posted a 23.5-percent decline in total trade, with exports and imports down 21.8 percent and 25.4 percent respectively, according to the GAC data.More importantly, the strong performance of China's trade was attributable to the recovery of the world economy and China's deepening economic ties with other emerging markets, said Bi.Trade between China and the European Union rose 37.2 percent in the first half of this year to 219.42 billion dollars from the previous year, while trade with the United States grew by 30.2 percent to 171.99 billion dollars, the GAC said.China's trade with Japan also saw rapid growth, hitting 136.55 billion dollars, up 37 percent from a year earlier, and Japan became China's third largest trade partner as a result, the GAC data showed.China also saw booming trade with many emerging markets in the first six months this year.Trade between China and the Association of Southeast Asian Nations (ASEAN) climbed by 54.7 percent to 136.49 billion dollars, and China-Brazil trade jumped 60.3 percent to 26.39 billion dollars, said the GAC statement.Besides sound growth, China's trade pattern was also becoming more balanced with the gap between imports and exports narrowing, Bi said.In the first half this year, China's trade surplus shrank by 42.5 percent from the same period last year, after it recorded a surplus of 196.1 billion dollars in 2009, down 34.2 percent from 2008.Bi Jiyao said China's export growth would not be able to maintain such a high rate of growth as the comparison base was very low for the first half in 2009 when the world economy was struggling amid the financial crisis.Echoing Bi, Zhang Xiaoji, a senior researcher with the Development Research Center of the State Council, anticipated China's trade surplus this year would be reduced by 20 billion dollars from the 2009 level.From January to June this year, China recorded a trade deficit of 26.33 billion dollars with Japan, as imports from Japan rose 46.3 percent, compared with a 25.2-percent exports growth, and the deficit grew by 130 percent from the same period last year, the GAC said.China's trade deficit with Brazil stood at 5.75 billion dollars, and its deficit with the ASEAN countries widened to 7.29 billion dollars, compared with 600 million dollars registered for the whole year of 2009.China's imports were growing faster than exports, indicating that China's stable economic development was helping the world economy to recover while many countries were resorting to exports growth as a major tool to achieve economic recovery, Zhang Xiaoji said.

BEIJING, June 23 (Xinhua) -- Chinese banks should set up an independent risk management system in line with its strategic expansion plan as part of efforts to ward off financial risks, China's banking regulator said Wednesday.The breakout of the global financial crisis highlighted the necessity of increasing management of differentiated sovereign risks, the China Banking Regulatory Commission said in a guideline published on its website.Just as Chinese banks were expanding throughout the world, the overseas risks they were facing were on the rise, the guideline noted.Sovereign risks refer to ones that banks are exposed to when overseas borrowers or debtors are unable to repay debt because of their countries' economic, political and social changes.Chinese lenders were required to differentiate risks according to the countries involved and make policies on the minimum potential loan loss provisions ranging from 0.5 percent to 50 percent, according to the guideline.The banks must meet the requirements under the guideline by June 1, 2011.

BEIJING, July 19 (Xinhua) -- While China strives to create a more open and fair business environment, the country also wants business to embrace environmental-friendly policies. The move, aimed at a sustainable growth, should not be interpreted as worsening the investment conditions, analysts note."Currently, there is an allegation that China's investment environment is worsening. I think it is untrue," Premier Wen Jiabao said while talking with heads of prestigious German and Chinese firms in northwest China's Xi'an city over the weekend.Although Chinese leaders stated that China welcomes foreign investment as always, some western media have repeatedly run stories that claim China's investment environment is worsening.Statistics, however, tell a different story. Foreign direct investment (FDI) that flowed into China in June surged 39.6 percent from a year earlier, resulting in a 19.6-percent year-on-year increase during the first half of this year."Foreign investment will not pour into a country where the investment environment is worsening," Wen said.China will continue both its opening-up policy and improving its investment environment, as the government promised, but structural changes are expected because both China and the world are changing, analysts said.For the past 30 years, China has been wooing foreign investment with many preferential policies designed to attract badly-needed capital, advanced technology and management expertise.