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BEIJING, Dec. 6 (Xinhua) -- China will, without any doubt, be able to achieve the 8 percent growth in gross domestic product (GDP) this year, a senior Chinese economist said Sunday. Yao Jingyuan, chief economist with the National Bureau of Statistics, made the remarks at a fortune forum in Beijing. However he warned that the Chinese economy will still face two major problems next year: slumping overseas market demand and weak driving force on domestic market. Chinese economy rose 7.7 percent in the first three quarters, driven mainly by investment and consumption, but brought down by exports, Yao said. He stressed more efforts should be made on structural adjustment to shift dependence on the industrial growth to the comprehensive development of the agricultural, industrial and service sectors. Yao highlighted the importance to raise people's incomes, add investment on livelihood projects and give full play to the role of consumption to boost economy. Meanwhile, China should turn its economic growth dependence from resources-intensive consumption to technology renovation, Yao said.
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, Nov. 13 (Xinhua) -- China should keep home prices from long time "abnormal increases" and divert profits made from home price hikes to the public through taxation, a senior property official said here Friday. Dong Zuoji, director of land planning department of the Ministry of Land and Resources, said home prices would continue to rise as the land in the world's fastest-growing economy is becoming increasingly scarce, but the government should use taxes to give the added value of the land back to society. "China hasn't seen overcapacity in real estate sector on the whole, otherwise home prices wouldn't have gained so much," he said while attending a meeting held in Beijing. Dong said the government would increase land supply for subsidized homes and adopt measures to prevent developers from hoarding land. The government would also guarantee land use for high-tech, high added-value enterprises while limiting that of backward production projects. Due to a series of supportive measures adopted by the government, China's property sector rebounded strongly this year. Home prices in 70 large and medium-sized cities rose for the eight straight month in October. Average house price in Beijing surged 43.7 percent in July from that of January, to 14,500 yuan per square meter, Golden Keys, a property agent said on July 17.
BEIJING, Oct. 23 (Xinhua) -- China hopes the United States can take active steps to eliminate discriminatory measures towards Chinese poultry products, said Yao Jian, spokesman of China's Ministry of Commerce, on Friday. Yao made the remarks in a comment on the ministry's official website on the 2010 Agriculture Appropriations Bill, which has modified the stance towards Chinese poultry imports, compared to that in the Omnibus Appropriations Act 2009. "We welcome the changes," Yao said. He pointed out, however, there are still restrictions against Chinese poultry products in the new bill. "China is evaluating whether the restrictions are totally in line with the non-discrimination principle of the World Trade Organization and other relevant regulations," Yao said. "China's poultry products are safe and reliable... We hope the United States can stand on the footing of maintaining mutual benefit in China-U.S. trade and take active steps to eliminate discriminatory measures and normalize bilateral poultry trade at an early date," Yao said. Yao hoped that the U.S. could modify relevant regulations to resume poultry imports from China. The U.S. House of Representatives passed the 410-billion-U.S.-dollar Omnibus Appropriations Act 2009 in February, which said "none of the funds made available in this Actmay be used to establish or implement a rule allowing poultry products to be imported into the United States from the People's Republic of China."
PORT MORESBY, Papua New Guinea, Nov. 3 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday discussed bilateral relations and other issues of common concern with Papua New Guinean Prime Minister Michael Thomas Somare. Li said Papua New Guinea, as the largest developing country in the South Pacific, has great influence over regional issues. He said China attaches great importance to bilateral ties with the Pacific island nation, which China has always regarded as a reliable friend and partner. In recent years, Li said, the two countries have conducted frequent high-level exchanges, deepened political mutual trust, broadened exchanges and cooperation in an extensive number of sectors. Chinese Vice Premier Li Keqiang (R) shakes hands with Papua New Guinean Prime Minister Michael Thomas Somare in Port Moresby, Papua New Guinea, Oct. 3, 2009. The two countries also have maintained good communication and coordination in multilateral affairs, Li said. China appreciates the Papua New Guinean government's adherence to the one-China policy, Li said. He said China is willing to work with Papua New Guinea to put into practice all of the important agreements reached by leaders from both countries, promote exchanges on various levels and explore the potential for economic and trade cooperation. The vice premier said China has always been supportive of Papua New Guinea's social and economic progress, and would continue to provide assistance to the best of its ability. Somare, on his part, said his government cherishes its cooperative relationship with China and that the past 33 years have witnessed marked development of the relationship. He said, as the country's sixth largest trading partner, China has played an active and significant role in promoting Papua New Guinea's social and economical development. During the talks, Somare reaffirmed his country's continued adherence to the one-China policy. Li said China and Papua New Guinea have economies that are complementary to each other's and there is huge potential for cooperation. Two-way trade totaled 860 million U.S. dollars in 2008. The vice premier said China will continue to encourage more of its enterprises to invest in Papua New Guinea. Both countries, he said, should broaden their areas of cooperation to agriculture, manufacturing and high-tech, apart from energy and resources. Somare said Papua New Guinea would like to strengthen cooperation with China in trade, investment, agriculture, infrastructure, manufacturing, education and healthcare. He also said the preferential loans China has provided to Pacific island nations over the past three years have greatly helped the overall economic and social development of these nations. Li arrived here on Tuesday on an official visit to Papua New Guinea, the last leg of his three-nation tour. Ha has already visited Australia and New Zealand.