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BEIJING, Aug.3-- China's steel industry association said on Friday that it plans this year to unify the spot and long-contract prices for the country's iron ore imports. It will also set a ceiling for charges levied by import trading firms, as part of an effort to regulate the market. The proposal was the top item of discussion at the steel industry body's two-day semiannual meeting, said Luo Bingsheng, deputy chairman of the China Iron and Steel Association (CISA), at a press conference. The term prices negotiated with global miners should become a benchmark unified price, and the import agencies could charge 3-5 percent in commission on top of the term prices, Luo said. The move aims to regulate excess iron ore import by steel makers and trading firms, which distorted the supply and demand balance and disrupted the annual contract talks, Luo said. The price talks, which are continuing, appeared to be snagged on China's insistence upon bigger reductions than the 33 percent cut agreed to earlier with Japanese and Korean steel mills. News reports and industry analysts say China wants a 40 percent price cut. Luo said foreign iron ore suppliers promoted massive sales on the spot market, leading to huge stockpiles. Spot iron ore accounted for 82.7 percent of imports this year, leading to excessive imports that far exceed actual needs, the CISA said. Luo made the remark as the spot price of iron ore in China surged above the contract prices offered by three large miners - Rio, BHP and Vale. Benchmark spot prices of iron ore in China rose above 0 a ton on Thursday, as compared with a ton in April, according to industry consultant Mysteel. Iron ore imports rose 29.3 percent year on year, to 297 million tons, in the first half of this year, while traders imported 131 million tons, up 90.4 percent from last year. There are 152 iron ore importers in China this year, exceeding the 112 licenses that CISA issued, the association said. Luo said the annual talks were ongoing and CISA would keep working to push them forward. "We are working for a reasonable result and hope to reach a win-win situation," Luo said. "For small steel companies, a unified price system is definitely good news," said Fan Haibo, a steel analyst from Xinda Securities. "Large steel mills and trading companies have made huge profits by selling iron ore to small steel factories who do not hold import license." "But how to define which firms have 'agent license' seems essential. Giving them the privilege is akin to guaranteeing a business always makes a profit," he said.
BEIJING, Oct. 14 (Xinhua) -- Chinese President Hu Jintao on Wednesday met with visiting Russian Prime Minister Vladimir Putin, hailing fresh development of bilateral relationship and vowing closer collaboration. "Russia is one of the top agenda on China's diplomacy as we pay much attention to relations with Russia," Hu told Putin in their half an hour meeting in Diaoyutai State Guesthouse. Hu said this year was significant for China-Russia relations as both countries celebrated their 60th anniversary of the establishment of diplomatic ties. Russia was the first country to establish diplomatic relations with China, days after the People's Republic of China was founded on Oct. 1, 1949. Chinese President Hu Jintao (R) meets with Russian Prime Minister Vladimir Putin in Beijing, capital of China, Oct. 14, 2009. As an important milestone in deepening relations, both countries established strategic partnership of coordination in 1996. Hu said this partnership had reaped substantive benefits to both peoples and worked for the world peace, stability and prosperity. He underscored the mutual support both countries offered to each other on issues concerning their core interest and close coordination and cooperation on international and regional affairs. "China would like to work more closely with Russia to enhance political trust and strategic coordination," Hu said. Chinese President particularly called for both countries to boost cooperation in energy, high-tech and culture. "Let's work together to take strategic partnership of coordination to a higher level," Hu said. Putin said his China visit was very successful, marking "an important step forward" in bilateral cooperation. He said close exchanges between leaders of both nations contributed a lot to bilateral relations, which witnessed rapid progress in trade, energy and culture. Putin said the "Year of Russian Language" went on well in China and looked forward to the "Year of Chinese language" in Russia next year. During the "Year of Russian Language" in China, the two nations held more than 200 cultural exchange activities in about 20 provinces, autonomous regions and municipalities in China. Putin said he was satisfied with Russia's ties with China and would like to advance the relations. On Tuesday, Chinese Premier Wen Jiabao hosted a red-carpet welcome ceremony for Putin, who is on his first official visit to China since taking office in May 2008. They held closed-door talks and witnessed the signing of 12 agreements, including the agreements on natural gas and oil.
BEIJING, Sept. 18 (Xinhua) -- Sirens wailed in a number of Chinese cities Friday to remind people of the Sept. 18 invasion and occupation by Japanese troops in 1931. "We should not forget the past. The history tells us that we will be beaten if we are week," said Yang Jianhua, a 56-year-old worker who beat the bell at the 9.18 History Museum. Dozens of cities across China including Harbin, Changchun and Xi'an also sounded the alarms at 9:18 a.m. to remind the people of the humiliating history. On Sept. 18 in 1931, Shenyang resounded with the noise of cannons and explosions when Japanese forces attacked the barracks of Chinese troops. The move marked the beginning of a Japanese occupation that lasted 14 years. A history museum in Changchun, capital of northeast China's Jilin Province, opened to the public for free as from Sept. 18. The Museum covers 10,600 square meters with more than 3,000 historical documents and materials. An exhibition in Beijing displayed 220 photos and 260 items of historical relics on ordinary people's fighting against Japanese troops. The exhibition will run until April 30 in 2010.
GUANGZHOU, Oct. 18 (Xinhua) -- Continuous severe drought over the past months has stunted rice crop, threatened reserviors and left hundreds of thousands of people short of drinking water in southern Chinese provinces. In the southern Guangdong Province, where the precipitation in the first 10 months this year has reported a 14 percent drop compared with the average level of the past years, more than 55,000 hectares of cropland are affected and 50,000 people are facing difficulties in getting drinking water because of the drought. Water level in Guangdong's reservoirs continued to drop. According to Guangdong Provincial Flooding and Drought Relief Headquarters, the water conservancy in Guangdong's 32 key reservoirs has reported a year-on-year decrease of 2.34 billion cubic meters. The drought is continuing to take a toll on agricultural production in the province. "I have never seen such a severe drought in my life," said a 73-year-old farmer in Zhoutian Township, Shaoguan City. "A great deal of crops have been damaged." There have also been concerns of further crop damage as drought harms crop's ability to weather the winter. In Nan'ao Island in Shantou City, home to more than 70,000 people, drought has brought inconveniences to local residents' daily bath and laundry. The drought has left more than 70,000 people in Zhangzhou City in the southeastern Fujian Province short of drinking water. Local hydraulic experts attribute the water shortage to the lingering drought as well as the water conservancy facilities' construction which lagged far behind the industrialization and urbanization. In the central Hunan Province, low water level in Dongting Lake, China's second largest fresh water lake, has forced local fishermen into idle. "October used to be a 'golden season' for fishing in the lake," said Gong Jianmin, a local fisherman. "But now we cannot go out to fish since the low water period has come early this year because of the drought." In the eastern Jiangxi Province, the average precipitation since Sep.1 has seen a year-on-year 66-percent drop. Most cities and counties in Jiangxi have reported drought.
BEIJING, Oct. 15 (Xinhua) -- China's power consumption in September continued to rise with a faster increasing rate, according to China's National Energy Administration (NEA) on Thursday. Power consumption in September rose 10.24 percent from the same month last year to 322.41 billion kilowatt hours last month. The increasing rate was 2 percentage points up from that of August. Accumulative power consumption in the first nine months topped 2.66 trillion kilowatt hours, an increase of 1.4 percent over the same period last year. In the first three quarters, power consumption of the primary industry which covers agriculture, animal husbandry and fishery, added 6.35 percent from a year earlier to 72.5 billion kilowatt hours. The second industry, including mining, manufactural, building and construction sectors, consumed 1.95 trillion kilowatt hours, representing a decrease of 1.67 percent over the same period last year. Power consumption in the service sector climbed 11.26 percent year on year to 293.5 billion kilowatt hours in the first three quarters.