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BEIJING, Dec. 19 (Xinhua) -- Taxi driver Qu waited patiently in the December night chill as a gas station boy changed the price tag, which indicated China's unified fuel price cut effective early Friday morning.     The country slashed the benchmark prices for fuel from 6.37 yuan (0.93 U.S. dollar) per litre to 5.46 yuan starting Friday morning, which was earlier than the long-awaited government scheme on fuel taxation and pricing slated for Jan. 1 next year.     "The price cut of 0.91 yuan per litre means a monthly saving of900 yuan for a taxi driver," said Qu, waiting in Thursday's midnight dark for the clock to turn zero.     The government distributed the news of the price cut via all major media and short messages to cell phone users on Thursday evening.     Nevertheless, there was no queuing-up at the gas station in the early morning hour. The station boy said long queues appeared in previous price rises this year.     The National Development and Reform Commission (NDRC) made it clear Thursday that domestic fuel prices would remain unchanged on Jan. 1, 2009, when the fuel tax is expected to kick in.     This round of price cut was China's revamp of its oil pricing system to let it pegged with the global market.     "The pricing would reflect the global market supply of oil resources and let the market play a fundamental role," said Zhao Jiarong, an official with the NDRC.     "The latest cut would narrow the gap between wholesale and retail prices. Consumers would benefit from it," said Xu Kunlin, another NDRC official.     Zhou Dadi, an energy researcher, said his calculation showed the factory gate fuel price would drop by 2,000 yuan per tonne and the pre-tax retail price would be down by 1.7 yuan per liter after the price cut.     A fuel trader said there might be a hoard purchase before the fuel taxation effective on Jan. 1 next year.     Bai Chongen, an economist from Tsinghua University, said the post-tax retail price would remain unchanged next year as fuel producers would lower the factory gate price again to offset the tax.     But for fuel producers, the price cut reduced their sales profit. "It will have a short-term impact on our profit, but we expect the global prices to rise in future. This will secure the long-term profit," said Shu Zhaoxia, a researcher with Sinopec, Asia's largest refiner.     Experts said the country's first fuel price cut in almost two years would help revitalize companies and factories eking out in a slowed-down economy.     Among industry beneficiaries, the aviation sector would see an immediate effect because the benchmark prices for jet fuel was slashed by a bigger margin of more than 30 percent, or 2,400 yuan, to 5,050 yuan per tonne.     An Air China spokesman said the cut would definitely boost the aviation industry as the drop was beyond airliners' expectation.     A Guojin Securities analyst said based on the forecast 2009 jet fuel consumption of 11.47 million tonnes, the price cut would lead to a cost reduction of 27.5 billion yuan for the country's aviation industry.

BRUSSELS, Jan. 30 (Xinhua) -- China and the European Union (EU) on Friday agreed to strengthen practical cooperation in jointly addressing the current global financial crisis.     The agreement came after talks between visiting Chinese Premier Wen Jiabao, who arrived here on Thursday for a visit to the EU headquarters, and European Commission President Jose Manuel Barroso.     Wen told Barroso that China, in its foreign relations, lays a strategic emphasis on developing the comprehensive strategic partnership with the EU, and promoting cooperation to jointly tide over the current difficulties should be a key task for both sides under current circumstances.     To this end, both sides need to trust and respect each other, treat each other equally and aim for mutual benefit, Wen said. In particular, China and the EU should address each other's major concerns and try to stave off disputes, he added.     Barroso said the EU and China have seen close, deep and fruitful relations, and, as two major forces in the world, many global issues cannot be solved without EU-China cooperation.     The EU is ready to promote dialogue and cooperation with China to elevate the comprehensive strategic partnership to a higher level, he said.     To jointly tackle the global financial crisis, China and the EU agreed to expand information exchanges between financial institutions, the central banks and financial supervisory and regulatory bodies.     Both sides pledged to promote trade and investment. China will continue to steadily expand market access and increase import from the EU, while the EU recognized China's achievement in promoting market economy.     Both sides agreed to support cooperation between small- and medium-sized businesses and to deepen cooperation in technological innovation in such areas as energy conservation, greenhouse gas emission reduction and health care.     China and the EU vowed to work together in mitigating and adapting to climate change, agreeing to boost cooperation in developing new energies, new energy conservation technology and a low-carbon economy.     The two sides also reached consensus on close coordination in macroeconomic policies and opposition to trade protectionism.     China and the EU on Friday signed cooperation agreements on aviation, work safety, clean energy and intellectual property rights protection.

KUNMING, Jan. 3 (Xinhua) -- The Yunnan section of the Sino-Vietnam land boundary demarcation project has ended with 665 boundary tablets erected, an official with the foreign affairs office of southwest China's Yunnan Province said here on Saturday.     During the past eight years, six Chinese teams cooperated with their Vietnamese counterparts and demarcated the borders of Jiangcheng, Jinping, Hekou, Maguan, Malipo and Funing.     All the land border demarcation work in the Yunnan area was completed on Dec. 20, in accordance with the "Vietnam-China Land Border Treaty."     Large boundary tablets were established on Hekou's roads, rail terminal and harbor along the Yunnan section of the border.     The completion of the task represents a major step in Sino-Vietnamese relations.     China and Vietnam exchanged views on Wednesday on solving the remaining issues connected to border demarcation and erecting border markers, reached an agreement and issued a joint statement.

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. 

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