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TORONTO, Dec. 29 (Xinhua) -- The emerging markets of China, India and Brazil will lead the way in global auto sales in 2010, a report said Tuesday.     The U.S. market, meanwhile, was expected to see a double-digit increase and will lead the growth of mature markets in 2010, said the global auto report by Canadian Scotiabank Economics.     The report said that a cyclical recovery in global auto sales began in the spring of 2009 and would gain momentum in 2010.     China became the world's largest auto market in 2009, surpassing purchases in the United States. Car sales in China surged by more than 40 percent to 7.3 million units this year thanks to government incentives.     The incentives included a reduction in sales tax from 10 percent to 5 percent for small fuel-efficient vehicles with engines less than 1.6 litres.     The incentives were expected to lift sales by 20 percent to nearly 9 million units in 2010, the report said.     "Global car sales will continue to be buoyed by the ongoing massive and synchronized monetary and fiscal stimulus, which has generated a global economic recovery, including improving auto lending across the globe," said Carlos Gomes, senior economist at Scotia Economics.     "In fact, we estimate that auto loans across major markets bottomed in the first quarter of 2009 and have improved consistently alongside a thawing in global credit markets and falling interest rates," he said.     According to the report, improving access to credit and a return to 3-percent growth in the world economy will enable 2010 car sales to recapture half of the ground lost over the past two years, and set the stage for record volumes in 2011.     Auto sales in the United States have reversed the downward trend, with volumes advancing above a year earlier since August alongside a nascent economic recovery.     The report also predicted that through a vehicle scrappage program to spur the market, auto sales in Canada would reach 1.53 million units in 2010, up from 1.45 million this year.     "On average, 7 percent of the Canadian fleet is replaced each year," Gomes said. "However, the scrappage rate slumped to less than 6 percent in 2009, as the global economic downturn prompted Canadians to tighten their wallets and continue to drive their aging vehicles.

BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day.     Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits.     About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market.     The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively.     The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price.     Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months.     Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback.     China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan.     It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later.     China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States.     Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007.     The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then.     By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu.     Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction.     The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride.     Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses.     "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled."     The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent.     Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations.     The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.

BEIJING, Dec. 1 (Xinhua) -- Chinese Premier Wen Jiabao on Monday called for more peace efforts from Israel and Palestinians toward a two-state solution.     Wen made the appeal on the occasion of the International Day of Solidarity with the Palestinian People.     In a congratulatory message to this year's UN activities to observe this day, Wen said the Palestinian issue is at the core of the Middle East issue.     "China firmly supports the demands of Palestinian people for the restoration of their legitimate national rights and for the establishment of an independent state," said Wen.     The Middle East Peace process is at a crossroads. China hopes that Israel and Palestinians could guide the peace talks toward a desired direction and work for a two-state solution in accordance with relevant UN resolutions and the "land-for-peace" principle, he said.     An early resolution of the Palestinian issue in a comprehensive, just and permanent manner is not only beneficial to the Palestinian people, but also conducive to peace and stability in the whole Middle East region, said Wen.     As a permanent member of the UN Security Council, said Wen, China remains committed to the Mideast peace process and is willing to play a constructive role, together with the international community, in promoting peace, stability and development in the Middle East.

TAIPEI, Nov. 8 (Xinhua) -- The Chinese mainland's 20 million yuan of donations to ethnic minorities in the typhoon-hit Taiwan have been "all given out", Kao Chin Su-mei, a representative of the ethnic minorities, said here Sunday.     Earlier in August, the Taiwan Work Office of the Communist Party of China Central Committee announced it has raised 20 million yuan (about 95.4 million new Taiwan dollars) for the ethnic minorities in Taiwan after Typhoon Morakot hit the island.     The donation plan was announced when a delegation headed by Kao Chin Su-mei visited Beijing on August 19.     The donation has been distributed to more than 2,153 homeless ethnic minority families (30,000 new Taiwan dollars for each), more than 3,300 primary and junior high school ethnic minority students in hardest-hit areas (5,000 new Taiwan dollars for each), and nearly 14,00 senior high school and junior college ethnic minority students (10,000 new Taiwan dollars for each), according to Gao Chin Su-mei.     All the donation had been distributed to ethnic minority victims of the typhoon, she said.     Currently, about 500,000 people of ethnic minorities live in Taiwan, 80 percent of whom make a living by growing and processing agricultural products.

NANCHANG, Nov. 5 (Xinhua) -- Senior Chinese leader Zhou Yongkang has called for better understanding of new changes in the society, the nation and the world at large and urged more research and efforts in promoting social stability and harmony.     Zhou, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the call during his visit to east China's Jiangxi Province on Wednesday. Zhou Yongkang (C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, visits a company operated exclusively with Hong Kong capital, in Ji'an City of east China's Jiangxi Province, Nov. 4, 2009. During his visit, Zhou also urged strengthening of the self-construction of the law enforcement organs so as to provide a better legal protection for the economic and social development.     When visiting Red Army veterans, Zhou said the people will forever remember the great sacrifice revolutionists of the older generation have made for the country. He pledged to them the determination to well build the nation. Zhou Yongkang (C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, meets with red army soldiers during his visit in Ji'an city of east China's Jiangxi Province, Nov. 4, 2009Zhou also visited a fire department in Jinggangshan city, where the official encouraged the firefighters to work hard to protect the people's lives and properties. At a local police station in Ji'an city, Zhou praised the policemen's innovation of improving service through information technologies.     The official also paid visit to rural households. At a village in Ji'an city, Zhou was pleased to know that no single crime has ever occurred in the village since the founding of the People's Republic of China in 1949.Zhou Yongkang (R, front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, visits a fire station in Jinggangshan city of east China's Jiangxi Province, Nov. 4, 2009