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2025-05-30 21:51:48
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  宜宾驼峰鼻整容   

BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao on Friday reiterated determination to curb the excessive growth of home prices in major cities and satisfy people's basic need for housing.He made the pledge while delivering a government work report to the Third Session of the 11th National People's Congress(NPC), China's top legislature, which is the latest demonstration of the government's determination to tame the runaway home prices.Driven by record bank lending and favorable tax breaks, China saw a sharp residential property price hike nationwide in the past year, triggering heated public complaints and fears of possible assets bubble.China's home prices in 70 large- and medium-sized cities, a housing price trend barometer, climbed 9.5 percent in January 2010 from a year earlier, the fastest growth in 19 months. Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010Wen promised an increased supply of low-cost housing and common residential houses, restraining of speculative purchase, tighter land use management and stricter control of bank credit.A total of 63.2 billion yuan (9.25 billion U.S.dollars) will be spent by the central government in low-income housing in 2010, an increase of 8.1 billion yuan, or 14.7 percent over last year, Wen said.The government will also build 3 million housing units for low-income families and renovate 2.8 million shanty units, he said.Wen's remarks indicate the government's regulation target in the real estate sector this year, which will emphasize on satisfying demand of mid- and low-income families while ensuring a healthy development of the market, said Gu Yunchang, vice president of China Real Estate Research Association."To curb the excessive growth of home prices is a must for the healthy development, or else the foaming market would bring destructive consequences to the industry," said Gu.China's central and local governments has begun to take moves to deflate the housing bubble since late last year, including reimposing a sales tax on homes sold within five years of their purchase and raising down payment requirement for families buying a second or more houses with bank loans.In another move to cool the property market, the People's Bank of China, the central bank, announced twice within a month to raise the deposit reserve requirement ratio earlier this year.During an online chat with the Chinese Internet users last week, Wen expressed his confidence in the government measures in response to complaints over soaring home prices."It is the government's responsibility to guide the property market. I am confident that the government will ensure the healthy development of the property market," he said.

  宜宾驼峰鼻整容   

ABU DHABI, Jan. 20 (Xinhua) -- The 2010 World Expo, slated for May 1 to Oct. 31 in the eastern Chinese city of Shanghai, will provide an opportunity for the United Arab Emirates (UAE) and China to enhance their mutual understanding, officials said Wednesday.The UAE is the first country to complete the "base-build" of its own pavilion at the Expo, with the exception of China's national pavilion, the state news agency WAM reported.The UAE pavilion will carry the Gulf nation's message to the people of China and many other countries, Saqr Ghobash, chairman of the National Media Council that is coordinating the project, was quoted as saying."We are particularly focused on the theme of Expo 2010 -- ' Better City Better Life' -- because we recognize that this resonates very deeply with the UAE's own experience," he said.Ghobash added that the UAE government and people have made huge strides towards creating a modern society that respects its past whilst embracing the present."We have much to share with our friends and partners in other countries. Expo 2010 provides an opportunity to do this and we are pleased to invite companies and organizations with commercial or other interests in China to participate with us in the six month long Expo 2010 in Shanghai," he said.Salem Al Ameri, commissioner general of the UAE pavilion, said there are still many opportunities for UAE companies to take advantage of the exposition."Whilst this is not a commercial exhibition in the usual sense of the word, it does offer many excellent opportunities for companies in the UAE and China to get to know each other better and to explore partnership or other opportunities. The UAE Pavilion offers a dedicated area for such exchanges and presentations," he said.

  宜宾驼峰鼻整容   

BEIJING, Feb. 19 (Xinhua) -- U.S. political rhetoric has recently been obsessed with the exchange rate of the renminbi. President Barack Obama has indicated on several occasions that he would take a tougher stance on this issue in order to address trade imbalances between his country and China.But does the renminbi hold the key to this issue? What are the backstage calculations behind those demands from Washington?RENMINBI A WRONG TARGETWhile addressing Democratic senators early this month, Obama said the issue of renminbi exchange rate must be addressed to ensure that American products will not be put into a huge competitive disadvantage given the fact that China is going to be one of America's biggest markets.In an interview with Businessweek on Feb. 10, Obama said he and Chinese leaders are going to have some "very serious negotiations" on the renminbi issue.Supporters of Obama include economists such as Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics. Those experts say China's huge trade surplus is a result of an undervalued renminbi. Appreciation of the Chinese currency, in their view, would re-balance China's international trade.However, the validity of such argument is questionable.The Japanese yen, for example, has been appreciated enormously against the U.S. dollar over the past 40 years. Yet Japan's trade surplus with the United States has been continuously on the increase over the same period.The case with the Japanese yen has clearly demonstrated that international payment is not necessarily entirely linked to currency exchange rates. International trade balance is rather determined by international division of labor and product competitiveness.Stephen King, chief economist of the HSBC bank, said it is unreasonable to simply attribute China's big trade surplus to an undervalued currency. China's high savings rate is a more important factor in this respect, he told Xinhua.Nobel Prize laureate Andrew Michael Spence shared King's argument."Reducing the surplus in China involves deep structural change, much as reducing the U.S. deficits does. China's high savings are embedded in the structure of the economy," Spence wrote in Jan. 21's Financial Times.Without structural change, an appreciation of the renminbi might well lead to continued high savings and slow economic growth in China, rather than to a reduction of China's trade surplus, he wrote.International Monetary Fund (IMF) chief economist Olivier Blanchard believes that renminbi appreciation is not a solution for the U.S. economy.According to an IMF model, the American GDP will grow by 1 percent when the renminbi appreciates by 20 percent and other major Asian currencies also appreciate by a similar margin, he told Xinhua."This would be good news for U.S. growth. But this is clearly not enough, by itself to sustain growth in the United States," said Blanchard.World Bank chief economist and Vice President Justin Yifu Lin also said that the appreciation of the renminbi will not solve the problem of trade imbalance between China and the United States. On the contrary, such a move might damage both economies.CHINA BASHING NOT HELPFULObama has frequently attacked China over the renminbi issue in recent months. His motives are thought-provoking.In an article titled "Obama bashes China in order to win midterm elections," Japanese weekly Choice pointed out that after one year in office, the U.S. president now faces a sharp drop in approval ratings, a double-digit unemployment ratio and the loss of Democratic "supermajority" in the Senate.Trying to win the midterm elections under such circumstances, Obama had moved toward a "China-bashing" policy since the end of last year, including imposing high tariffs on Chinese products and pressuring China on renminbi exchange rate.But the truth is China has become the largest victim of U.S. trade protectionism since the outbreak of the global financial crisis.According to statistics released by the United States International Trade Commission, there were roughly 50 trade remedy cases filed by the United States between January and November 2009, half of which targeted China.At the end of last year, Chinese Premier Wen Jiabao said in an exclusive interview with Xinhua that some foreign countries kept asking China to appreciate its currency while using various protectionist measures against China. Their real motive was to contain China's growth, he said.Wen reiterated that China will never yield to external pressures on the exchange rate issue.In essence, a country's exchange rate policy is a matter of sovereignty.During a meeting with a visiting delegation of U.S. Chamber of Commerce in May 2005, Wen made it clear that the reform of renminbi's exchange rate was a sovereign right of China, and that every country had the right to choose a foreign exchange system compatible to its own national conditions and a reasonable exchange rate level.Wen said China would obey the rules of a market economy, but would never give in under foreign pressure.Any foreign pressure or attempt to manipulate the issue via news media represented a politicization of economic issues, which was unhelpful, the premier added.George Gilder, founder of Discovery Institute, said that it is neither realistic nor helpful for the United States to raise the renminbi exchange rate issue again with China.Pieter Bottelier, former chief of the World Bank's Resident Mission in China, told Xinhua that China and the United States share broad common interests.A prosperous, stable and strong China is in the interests of the United States and vice versa, said Bottelier. The two nations need to settle their differences through various dialogue mechanisms, he added.In recent years, China has been making efforts to balance international. The renminbi has been steadily appreciated against the U.S. dollar and the euro.Between July 2005, when China began its renminbi exchange rate reform, and the end of 2009, the value of the renminbi has appreciated by 21.21 percent against the U.S. dollar and up by 2.21 percent against the euro.Under such circumstances, China has been the fastest growing export market for the United States in recent years.In 2009, U.S. exports to China amounted to 77.4 billion dollars, accounting for an increasingly larger share in the country's total exports.During the same period, U.S. trade deficits with China dropped by 16 percent year-on-year.In the Asian financial crisis of late 1990s, China won worldwide applause for keeping a stable exchange rate of the renminbi.In the ongoing global financial crisis, while the world's major currencies all lost value, China has remained committed to a responsible renminbi exchange rate policy and has made significant contributions to the recovery of the global economy.Many experts familiar to China-U.S. trade pointed out that in order to achieve trade balance, the United States should take positive and concrete steps, such as increasing hi-tech exports to China and allowing Chinese firms to acquire shares in U.S. financial and technology sectors.

  

BEIJING, March 5 (Xinhua) - Chinese Premier Wen Jiabao warned Friday the nation still faces "a very complex situation" in the wake of the "most difficult year for economic development" since the new millennium.Delivering his work report to the National People's Congress (NPC), the parliament, Wen set the economic growth target for 2010 at "about 8 percent."China's economy expanded 8.7 percent in 2009, staging a faster-than-expected recovery after being hit by the worst global financial crisis in decades thanks to a raft of stimulus measures.ECONOMYPutting the economy "on a sound footing," the government needs to guide all sectors to focus on transforming economic growth pattern and restructuring economy, Wen said in the report.He acknowledged that 2010 is a "crucial year" for continuing to combat the global financial crisis, maintaining "steady and rapid" economic development, and accelerating the transformation of growth pattern.It is also an important year for achieving all the targets of the 11th Five-Year Plan (2006-2010) and laying a solid foundation for the 12th Five-Year Plan (2011-2015), he said."Although this year's development environment may be better than last year's, we still face a very complex situation," Wen told nearly 3,000 NPC deputies at the Great Hall of the People in downtown Beijing.Other key economic and social targets included creating more than 9 million jobs in cities, keeping urban registered unemployment rate under 4.6 percent and keeping the rise in consumer prices at about 3 percent.Wen said while the foundation for economic turnaround becomes stronger, he cautioned it should not be interpreted as "fundamental improvement."Listing key government tasks, Wen said it will continue to implement a proactive fiscal policy and continue to implement the stimulus package which was unveiled in late 2008 that included a 4-trillion yuan (585.5 billion U.S. dollars) two-year investment.Lawmaker Li Dongsheng from Guangdong Province, chairman of China's largest color TV producer TCL Corporation, said the proactive fiscal policy is in line with the company's current business development and it demands more "implementing techniques."Li said more flexibility is needed in carrying out the economic policy as China still faces "extremely complicated economic picture," including unclear export prospect.

  

BEIJING, Feb. 10 (Xinhua) -- Chinese President Hu Jintao on Wednesday urged the role of non-communist parties and personages in helping achieve the national goal for social and economic development in the new year."We must rely on all Chinese people, including various democratic parties, societies, ethnic groups and people from all walks of life and in different stratums to achieve this year's goal for economic and social development," said Hu at a symposium here Wednesday to mark the Spring Festival, or Chinese Lunar New Year, which falls on Feb. 14 this year.At the event, Hu extended New Year's greetings and best wishes to all people from the non-communists parties and the All-China Federation of Industry and Commerce and those without party affiliations.Chinese President Hu Jintao (3rd R), who is also General Secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), speaks during a meeting with representatives of non-communist parties ahead of the Spring Festival in Beijing, capital of China, Feb. 10, 2010Hu expressed appreciation for their hard work last year as they offered valuable suggestions for coping with the financial crisis and maintaining stable and relatively fast economic growth, urging them to continue giving such suggestions.Non-communist parties' leaders at the gathering gave opinions on various issues including the transformation of the economic growth mode, expansion of private investment, development of ethnic regions, compulsory education in rural areas and economic and cultural exchanges between the mainland and Taiwan, among others.The meeting was chaired by Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference.

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