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ADDIS ABABA, Jan. 11 (Xinhua) -- China views Ethiopia as its major economic and trading partner in Africa, says Minister of Commerce Chen Deming on Monday. The bilateral trade volume reached a historical high of 1.376 billion U.S. dollars during the first 11 months of last year, up 12.4 percent over the same period of the previous year, said Chen, adding that China's imports from Ethiopia during that period rose 202 percent to over 200 million dollars. During his talks with Sufian Ahmed, Ethiopia's minister of finance and economic development, the Chinese minister said China's investment in Ethiopia had accumulated to 138 million dollars in areas like textile, daily necessities, machinery, glass, building materials and leather. By the end of November last year, Chinese firms in Ethiopia had accumulated a turnover of engineering contracts with nearly 4 billion dollars, said Chen, who arrived here on Monday for a two-day visit. Chen put forward a four-point proposal on further development of bilateral trade and economic cooperation: First, further expanding its imports from Ethiopia through the use of tariff-free policies; Second, strengthening cooperation in investment and engineering contracts and continuing to encourage strong Chinese firms to invest in Ethiopia; Third, fully implementing the eight new measures to enhance cooperation with Africa; Fourth, further promoting cooperation in official development assistance to support Ethiopia's infrastructure, and projects aimed to improve people's well-being. For his part, Sufian expressed his thanks for China's long-term official development aid to Ethiopia. The Ethiopian minister said trade deficit with China has improved significantly and China has become Ethiopia's biggest trading partner. Sufian spoke highly of China's eight new measures to enhance cooperation with Africa, saying that Ethiopia would work together with China to fully implement the measures.
ROME, Jan. 8 (Xinhua) -- Chinese Ambassador Sun Yuxi announced Chinese culture year in Italy at a press conference at the Chinese embassy here Friday. The culture year, which follows Italian year in China in 2006, will officially start in September. "The Chinese culture year in Italy is set to be a central obelisk supporting further exchange between the two countries. It is a crucial project on which both governments have long been working," said Sun. The ambassador said nine Chinese central government departments and 22 local authorities would be involved in organizing more than100 events all over Italy, including performances of traditional Chinese musical bands, dances and operas. Chinese Ambassador to Italy Sun Yuxi (R) addresses a press conference about the Chinese cultural year to be held in Italy, in Rome Jan. 8, 2010 Meanwhile, business conferences will offer opportunities for important meetings between Chinese and Italian entrepreneurs and facilitate trade agreements. The Italian government has nominated former culture minister Giuliano Urbani as coordinator of the organizing committee, which is composed of representatives from 13 Italian government ministries. Sun said 2010, which marks the 40th anniversary of diplomatic relations between China and Italy, is set to be a crucial year for political and economic ties. China-Italy ties were "in the best period ever in the history of diplomatic relations," the ambassador said. Cooperation at all levels had recently been enhanced and Italy was a crucial partner for China, he added. The press conference was the first of a series preparing the ground for the Chinese culture year in Italy. The ambassador is scheduled to give a press conference at the beginning of each month of this year.
ASHGABAT, Dec. 13 (Xinhua) -- Visiting Chinese President Hu Jintao and his Turkmen counterpart Gurbanguly Berdymukhamedov agreed here Sunday to continually advance bilateral cooperation in an all-round and sustainable way. The Chinese president, who arrived here earlier in the day for a working visit, held talks with Berdymukhamedov in Ashgabat, capital of this Central Asia nation in the afternoon. Hu said the Chinese and Turkmen economies are highly complementary to each other, and bilateral cooperation in all dimensions and various fields accords with the needs of economic development of both countries. Hu outlined four areas that the two countries should focus on to advance practical cooperation. Chinese President Hu Jintao (L) shakes hands with Turkmen President Gurbanguly Berdymukhamedov in Ashgabat, capital of Turkmenistan, on Dec. 13, 2009. Firstly, the two countries should start as soon as possible the mechanism of Sino-Turkmen cooperation committee so as to better guide and coordinate practical cooperation between the two countries. Secondly, the two countries should continue to deepen cooperation in the energy sector. Hu said the China-Central Asia natural gas pipeline is a cooperative project that benefits the two countries and the whole region. China is ready to work with Turkmenistan to secure smooth operation of the gas pipeline, and further advance bilateral cooperation in the oil and gas sector in line with the principle of equal consultation and mutual benefit, Hu said. Thirdly, the two countries should also strengthen cooperation in non-energy fields. Hu said China is ready to expand cooperation with Turkmenistan in transport, telecommunications, building materials and infrastructure development. He proposed that the two countries should study and draft a plan of middle- and long-term cooperation in non-energy fields. Fourthly, the two countries should earnestly implement the credit projects they agreed upon by accelerating the inauguration of relevant projects. After the talks, Hu and Berdymukhamedov attended the signing ceremony of a number of cooperation documents in trade, investment, and telecommunications. Chinese President Hu Jintao meets with Turkmen President Gurbanguly Berdymukhamedov in Ashgabat, capital of Turkmenistan, on Dec. 13, 2009Hu said the activities of the "three evil forces" of terrorism, separatism and extremism in Central Asia have posed a serious threat to the stability of all countries in the region. China is ready to strengthen communication with Turkmenistan and work together to crack down on the "three evil forces" and cross-border crimes so as to effectively maintain regional security and stability, he said. Hu emphasized that cooperation in the fields of humanities and culture is an important part of bilateral relations. He said expanding cultural cooperation is conducive to reinforcing the foundation of bilateral friendship and expanding mutually beneficial cooperation in all fields. China is ready to work with Turkmenistan to strengthen exchanges and cooperation in culture, sports, education, press, health and tourism. The two countries should actively carry out exchanges in the fields of humanities and culture, promote contact between their art groups, non-government organizations, media organizations and academic institutes and step up cooperation in education, he added. Hu announced the decision to double the number of annual scholarships offered by the Chinese government to Turkmen students studying in China from the current 45 to 90. Hu also expressed China's readiness to provide assistance to Turkmenistan on Chinese language learning. Hu said since the two countries established diplomatic links 17years ago, the two sides have maintained a high level of mutual trust and firmly supported each other on major issues concerning each other's core interests. He noted that the two countries have carried out vigorous cooperation in trade, energy and culture. Hu said China has always placed importance on its relations with Turkmenistan, regarding it as a reliable friend and major partner. He said strengthening practical cooperation in all areas is in the common interests of both countries and peoples. Hu said China is ready to work with Turkmenistan for the all-round, in-depth and rapid development of their bilateral ties. Berdymukhamedov fully agreed with Hu's proposals for developing bilateral ties, saying Hu's visit is of special significance. He said Turkmenistan attaches great importance to China and its relations with China. The long-term strategic partnership between the two countries is based on a high degree of mutual trust, mutual respect and friendship. Despite the changes in international situation, the Turkmen government and people will always firmly push forward cooperation with China, he said. Berdymukhamedov spoke highly of the rapid growth of bilateral trade in recent years, saying China has become one of the biggest trade partners to Turkmenistan. Despite the impacts of international financial crisis, trade between China and Turkmenistan increased 135.5 percent in 2008 and38.7 percent in the first 10 months of 2009. Berdymukhamedov said Chinese companies have made investment in oil and gas, transportation and other sectors in Turkmenistan and won respect of Turkmen companies. He said the China-Central Asia natural gas pipeline is an example of sincere cooperation under the strategic partnership of the two countries. He said the project is not only in the long-term interests of both countries and their peoples, but is also conducive to maintaining stability of the global energy market. President Hu will fly to the border town of Turkmenabad Monday to attend a ceremony to inaugurate a natural gas pipeline linking China, Kazakstan, Uzbekistan and Turkmenistan. Berdymukhamedov said that under the new circumstance the two countries share a broad prospect of cooperation in all areas. Turkmenistan is ready to strengthen political dialogue and carry out practical cooperation with China in the fields of chemical industry, building material industry, science, culture and education. The president said China is an important force for promoting world peace, stability and development. He expressed satisfaction with the effective cooperation between the two countries in multilateral organizations, saying the two sides share broad common interest and hold similar stances on international affairs. Before the talks, Hu presented Berdymukhamedov with a list of books donated to the National Library of Turkmenistan.
BEIJING, Dec. 10 -- China will extend stimulus measures in the automobile industry for one more year, with small adjustments, to further support the world's biggest and fastest-growing auto market. The government announced the decision Wednesday after an executive meeting of the State Council chaired by Premier Wen Jiabao. The stimulus package, which was due to expire at the end of this month, includes a 50 percent cut in the 10 percent purchase tax for cars with an engine capacity of, or less than, 1.6 liters and subsidies for trade-in cars. It will now be extended to Dec 31, 2010. However, the purchase tax for smaller cars will be lifted from the current 5 percent to 7.5 percent of the total vehicle price. Buyers examining a small car in an auto market in Nanjing. Purchase tax for smaller cars will be levied at 7.5% Furthermore, the government also decided to raise the subsidy for trade-in cars from between 3,000 and 6,000 yuan to between 5,000 yuan and 18,000 yuan per vehicle. The stimulus package launched by the government in January helped China's automobile sales to exceed an expected 13 million units this year, making the country surpass the US as the world's biggest auto market. "It's unusual that demand for automobiles in a country increases more than 4.5 million units within 12 months, and sales break the monthly record for seven months in a year," said Rao Da, secretary-general of China Passenger Car Association. Statistics from the China Association of Automobile Manufacturers (CAAM) show that the smaller cars, with engine capacity of, or less than, 1.6 liters, contributed 85 percent of the sales increase in the domestic auto market. Most of the best-selling cars in China are smaller cars. The association estimated that the stimulus measures boosted the sales of smaller cars by 2.6 million units this year. Because of the favorable policy, sales of the battery and electric car pioneer BYD in the first 11 months surged 150.2 percent to 388,246 units. About two-thirds of the car sales were of the F3 model, a compact sedan that topped China's best-selling car list for seven months, with monthly sales surpassing 30,000 units, nearly double the figure for last year. According to CAAM, China's auto production and sales almost doubled from figures a year ago to reach 1.39 million and 1.34 million units respectively in November. Overall auto sales topped 12.23 million units in the first 11 months, up 42.39 percent from the same period last year.
BEIJING, Dec. 1 (Xinhua) -- China's manufacturing sector continued to grow for the ninth straight month in November, according to a survey by the China Federation of Logistics and Purchasing (CFLP) on Tuesday. The Purchasing Managers' Index (PMI) of China's manufacturing sector stood at 55.2 percent in November, unchanged from the previous month, the CFLP said. It was the ninth straight month that the PMI reading stayed above 50. A reading of above 50 suggests expansion, while one below 50 indicates contraction. The PMI includes a package of indices that measure economic performance. Zhang Liqun, a researcher with the Development Research Center of the State Council, said the unchanged PMI index from the month before might suggest a stable recovery of China's economy. He expected government investment would see gradual reduction, while investment from the private sector might increase. Exports would go up, but not in a drastic rise, he said. In November, new order index and output index both held steady from figures in the previous month at 58.4 percent and 59.4 percent, respectively, according to the CFLP. New export order index was 53.6 percent, down by 0.9 percentage points compared to November while purchasing price index rose by 6.5 percentage points to 63.4 percent. Only three out of the 20 surveyed sectors reported a PMI index reading below 50, which were paper making and printing, oil processing, and beverages making.