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BEIJING, Nov. 21 (Xinhua) -- China's premium income hit 936.09 billion yuan (137.1 billion U.S. dollars) in the first 10 months, according to China Insurance Regulatory Commission. The figure represented an increase of 78 billon yuan, or 9.09 percent, over that in the first nine months. During January to October period, premium of property and casualty insurance was 243.18 billion yuan, and 692.9 billion yuan, respectively. Total asset of the country's insurance sector stood at 3.83 trillion yuan by the end of October.
BEIJING, Nov. 17 (Xinhua) -- China and the United States on Tuesday called on Iran to "engage constructively" with the P5+1 and to "cooperate fully" with the IAEA to facilitate a satisfactory outcome. The call was made in a joint statement issued here after talks between Chinese President Hu Jintao and visiting U.S. President Barack Obama. The two sides reaffirmed their strong support for a comprehensive and long-term solution to the Iranian nuclear issue through negotiations. "The two sides agreed that Iran has the right to peaceful uses of nuclear energy under the Non-Proliferation Treaty (NPT) and it should fulfill its due international obligations under that treaty," said the statement. The two sides welcomed the talks in Geneva on Oct. 1 between the P5+1 (the five permanent members of the UN Security Council plus Germany) and Iran as "a promising start" towards addressing international concerns about Iran's nuclear program, and expressed their readiness to continue that engagement as soon as possible. They emphasized in the joint statement that all efforts should be made to take confidence building steps and to call on Iran to respond positively to the proposal of the Director General of the International Atomic Energy Agency (IAEA).

BEIJING, Nov. 9 (Xinhua) -- China will raise gasoline and diesel prices both by 480 yuan (70.28 U.S. dollars) per tonne from Tuesday, the National Development and Reform Commission (NDRC) announced on its website Monday. The benchmark price of gasoline will be 7,100 yuan a tonne and that of diesel 6,360 yuan a tonne, according to the NDRC. The retail price of gasoline will climb by 0.36 yuan per liter and that of diesel will rise by 0.41 yuan per liter. The country adopted a new fuel pricing mechanism, which took effect on Jan. 1. Under the pricing mechanism, the NDRC will consider changing the benchmark retail prices of oil products when the international crude price changes more than four percent over 22 straight work days. A worker adjusts the price tag at a gas station in east China's Shanghai Municipality, early Nov. 10, 2009. China raised gasoline and diesel prices both by 480 RMB yuan (70.28 U.S. dollars) per tonne on Nov. 10 "Margins of price fluctuations are within expectation. The price hike can help relieve domestic refiners' pressure from soaring oil refining cost," said Wang Jing, an analyst on petrochemical sector with Orient Securities Company Limited. The price hike was aimed to protect oil refiners' interests, ensure market supply and help lead rational consumption to promote energy-saving and emission reduction, the NDRC said. The NDRC would take active measures to help reduce pressure brought to sectors like transportation, the NDRC said. International crude oil price might continue to rise within this year as demand would continue to grow amid global economic recovery, Wang said.
BEIJING, Dec. 7 (Xinhua) -- The closing of China's Central Economic Work Conference on Monday, which coincided with the opening of the 15th United Nations Climate Change Conference in Copenhagen, left a message that China was determined to pursue a path of low-carbon development. The three-day conference, responsible for setting the tone for economic development in 2010, agreed that China would step up efforts to boost low-carbon sectors, as part of the strategy of promoting the transformation of economic development pattern. "This demonstrates a remarkable change in China's concept of development, and would greatly help upgrade economic growth pattern and adjust economic structure," said Jiang Xinmin, a researcher with the National Development and Reform Commission (NDRC). The conference agreed to strictly control the issuing of loans to sectors featuring high energy consumption and high carbon emissions, increase credit support to low-carbon industries, strictly reduce exports of high energy-consuming products and rollout low-carbon economic development pilot plans. Jiang said the government's policies would surely produce more breakthroughs in low-carbon technologies, thus providing new vigor for growth. "We can simply say that China has set foot on a low-carbon development road." The Chinese government's major task this year had been to maintain growth through its stimulus programs amid the global economic downturn, said Wang Xiaoguang, a researcher with the China National School of Administration. "As the economic recovery is gaining momentum, the country should shift its focus to the long-term development plan," Wang said. The conference has put much emphasis on "green" development as 2010 will be the last year of the country's 11th five year plan (2006-2010), a guideline for economic and social development, which set hard targets for reducing energy intensity and emissions. Under the plan, China would reduce energy consumption per unit of GDP by 20 percent and major pollutant emissions by 10 percent from the 2005 levels by 2010, and the country is still working for that goal. China announced ambitious plans in late November to cut its energy intensity per unit of GDP by as much as 45 percent by 2020 compared to the levels in 2005. "The country would be pressured to make more efforts to achieve these targets. It is a tough task we must fulfill. We need to change our growth pattern and find a way to sustainable development," Wang said. The great importance the government attached to emissions cutting suggested the low-carbon concept has gradually merged into the country's development plans, said Wang. However, it took more than government policies and enforcement to reach the goal, said Zhou Dadi, a researcher with the NDRC "A low-carbon development pattern also needs concerted efforts by the public to change their life styles," Zhou said.
SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company. The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai. The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company. The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects. Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies." The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company. The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent. Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.
来源:资阳报