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BEIJING, June 1 (Xinhua) -- China Tuesday released details of its green-car subsidy program designed to boost the nation's auto industry and cut vehicle emissions.Through the program, subsidies of up to 60,000 yuan (8,784 U.S. dollars) will be given to buyers of pure electric vehicles in the five cities chosen for the pilot program, the Ministry of Finance said in a statement on its website.Buyers of plug-in hybrid cars will receive up to 50,000 yuan in subsidies.The cities chosen for the pilot program are Shanghai, Changchun, Shenzhen, Hangzhou and Hefei.China is the world's largest auto market.
BEIJING, April 23 (Xinhua) -- China's trade surplus this year will see a decline from the 2009 level despite a recovery in foreign trade, the People's Bank of China, the central bank, said here Friday.An increase in orders would push up export growth to more than 20 percent in the second quarter, while import growth would also stay high due to surging domestic demand and rising import prices, said the bank in a report released on its website."Exports have returned to pre-crisis levels and imports have hit all-time highs after seasonal adjustments," it said.The report said China still faced deteriorating trade conditions with rising trade protectionism and the unstable global economic recovery.China's trade surplus stood at 196 billion U.S. dollars last year. March saw its first monthly trade deficit in six years, with exports at 112.11 billion U.S. dollars and imports surging 66 percent to 119.35 billion U.S. dollars.The country's macro-economy would continue to improve after a better-than-expected 11.9 percent economic growth in the first quarter, said the report, adding, "The Chinese economy has had a good start this year."Companies are more willing to invest, while the people are showing stronger consumption demand," it said.Investment structure had been improved in the first quarter, with private investment rising 30.4 percent year on year, exceeding the 21.1-percent growth of government or state-owned enterprise investment, said the bank.China's retail sales surged 17.9 percent year on year in the first quarter, and fixed assets investment rose 25.6 percent, data from the National Bureau of Statistics showed.The bank also noted that "credit controls have seen initial results", as new yuan-denominated loans fell to 2.6 trillion yuan in the first quarter, 1.98 trillion yuan less than the corresponding period last year.The government has stated that the proactive fiscal policy and relatively easy monetary policy would continue this year, while repeatedly warning of assets bubbles, inflation risks and overheating industries.Soaring commodity prices were one of the government's major concerns, as the consumer price index, the main gauge of inflation, rose 2.4 percent year on year in March, nearing the government's upper limit of 3 percent inflation this year.The bank said it would continue to strengthen liquidity management and keep an "appropriate" growth of money supply, so as to maintain stable prices and strike a balance between maintaining economic growth, adjusting the economic development model and avoiding inflation risks.
BEIJING, May 14 (Xinhua) -- China's Vice Premier Li Keqiang Friday called for the development of a recycling economy to improve resource utilization efficiency and protect the environment.Developing a recycling economy was a significant mission for China, which urgently needed to change its economic growth mode of "high consumption, high pollution and poor recycling," said Li in an inspection tour to a state recycling economy pilot base under ChinaChem Group.Li said developing a recycling economy would help the enterprises improve product structures, fuel technology innovation and improve competitiveness. China's Vice Premier Li Keqiang (C) speaks during a meeting as he makes an inspection tour to a state recycling economy pilot base under ChinaChem Group in Beijing, China, May 14, 2010. Li Friday called for the development of a recycling economy to improve resource utilization efficiency and protect the environment.He called for a combination of resource conservation, environment protection and economic efficiency to cultivate emerging "green" industries.Authorities should transform traditional industries by promoting a clean, efficient and safe production, said Li.Li also called for more investment in recycling economy development, and implementation of supporting government fiscal, pricing and financial policies.
BEIJING, April 21 (Xinhua) -- The Chinese people continued to donate for the quake-hit zone in northwestern province of Qinghai on Tuesday, while getting ready for a nationwide mourning for those killed in the April 14 earthquake on Wednesday.A TV charity show on Tuesday evening raised 2.175 billion yuan (about 319 million U.S. dollars) in donations for the Tibetan Autonomous Prefecture of Yushu, where the 7.1-magnitude quake has left at least 2,064 people dead, 175 missing, and 12,135 injured by Tuesday.In the small hours of Wednesday, most websites and news portals in China have already turned black and white as part of the national mourning, which will be formally kicked off on Wednesday morning.
BAGHDAD, June 1 (Xinhua) -- The ongoing Shanghai Expo is a very good platform for Iraq and China to communicate with each other, some Iraqis said on Tuesday, adding the war-torn country needs China's successful experiences for rebuilding.The Iraqis made the remarks when the Iraq Pavilion opened Tuesday at the Shanghai World Expo, one month into the global event. The country is the last of the 246 participants to open its pavilion."After decades of isolation under circumstances of sanctions and wars, I believe my country is in acute need for such an event (Expo)," Adel Hameed, 35, a teacher in Baghdad western district of Mansour told Xinhua."As a developing nation, Iraq found Shanghai a great place to demonstrate the latest technologies that we need to rebuild our country," said Hameed, who disclosed that he sometimes follows the latest news about the Shanghai Expo from Internet at home.Asked what makes him so interested in following the Expo news, he smiled and said "to me Baghdad is the city with glorious past and promising future. It is the gem of the east, the capital of the great al-Rasheed caliph and the city of thousand and one nights, therefore, it is qualified to look forward for better future and Shanghai is a great place to look at and learn."He recalled the tragedy Iraq suffered in the past years, but was confident for a bright future in the city he lives in."Yes, I say we are far behind especially by the devastation of the U.S.-led invasion in 2003, and my nation has little chance to rise nowadays, but you will see days are coming and we will rise but it needs time," Hameed said.Some local people believed the Expo is an opportunity for Iraqis to know what is happening in China.Maher Abbas, a 48-year old lawyer told Xinhua that Expo is a great chance for Iraqis to know the course of development in China which has made it a successful example."I see China as a great example, they have made spectacular successes in all areas of development. As a developing country, we need China to share us its experience," Abbas said."I also believe that the Shanghai World Expo is a great platform for communication among the world nations, that could open to the world perfect windows for mutual understanding," the man said, complaining that he has few media sources to know about the event as the political and security troubles of Iraq are prevailing the local media. But the concept of such exhibition excited him.