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BEIJING, Dec. 10 -- China will extend stimulus measures in the automobile industry for one more year, with small adjustments, to further support the world's biggest and fastest-growing auto market. The government announced the decision Wednesday after an executive meeting of the State Council chaired by Premier Wen Jiabao. The stimulus package, which was due to expire at the end of this month, includes a 50 percent cut in the 10 percent purchase tax for cars with an engine capacity of, or less than, 1.6 liters and subsidies for trade-in cars. It will now be extended to Dec 31, 2010. However, the purchase tax for smaller cars will be lifted from the current 5 percent to 7.5 percent of the total vehicle price. Buyers examining a small car in an auto market in Nanjing. Purchase tax for smaller cars will be levied at 7.5% Furthermore, the government also decided to raise the subsidy for trade-in cars from between 3,000 and 6,000 yuan to between 5,000 yuan and 18,000 yuan per vehicle. The stimulus package launched by the government in January helped China's automobile sales to exceed an expected 13 million units this year, making the country surpass the US as the world's biggest auto market. "It's unusual that demand for automobiles in a country increases more than 4.5 million units within 12 months, and sales break the monthly record for seven months in a year," said Rao Da, secretary-general of China Passenger Car Association. Statistics from the China Association of Automobile Manufacturers (CAAM) show that the smaller cars, with engine capacity of, or less than, 1.6 liters, contributed 85 percent of the sales increase in the domestic auto market. Most of the best-selling cars in China are smaller cars. The association estimated that the stimulus measures boosted the sales of smaller cars by 2.6 million units this year. Because of the favorable policy, sales of the battery and electric car pioneer BYD in the first 11 months surged 150.2 percent to 388,246 units. About two-thirds of the car sales were of the F3 model, a compact sedan that topped China's best-selling car list for seven months, with monthly sales surpassing 30,000 units, nearly double the figure for last year. According to CAAM, China's auto production and sales almost doubled from figures a year ago to reach 1.39 million and 1.34 million units respectively in November. Overall auto sales topped 12.23 million units in the first 11 months, up 42.39 percent from the same period last year.
GUANGZHOU, Nov. 13 (Xinhua) -- Chinese Vice President Xi Jinping attended the opening ceremony of the 2009 UCLG World Council Meeting & Guangzhou International Sister Cities Conference, which gathered more than 1,000 representatives from about 210 cities and local organizations of more than 60 nations. Founded in May 2004, the United Cities and Local Governments (UCLG) is the largest local government organization in the world. The mayor of Guangzhou is the current co-president of UCLG. Xi said the UCLG has become an important platform for multilateral exchanges and cooperation as well as a bridge of friendship for global cities. He believed that the UCLG would be able to integrate wisdom and strength of urban planning and management from different nations, and play a positive role in promoting peace and development of the world. Chinese Vice President Xi Jinping (L) speaks at the opening ceremony of the 2009 United Cities and Local Governments (UCLG) World Council Meeting & Guangzhou International Sister Cities Conference held in Guangzhou, south China's Guangdong Province, Nov. 13, 2009 Xi pointed that the world economy is at a critical stage, recovering from the recession due to the global financial crisis. The theme of this meeting, "Cities: Approach to Global Financial Crisis", is a topic just in time. He raised three suggestions to cities and local governments around the world on how to jointly overcome the difficulties of the global financial crisis. He called on the UCLG members to deepen pragmatic cooperation in the areas such as economy, trade, science and technology, in order to boost the recovery of the world economy and achieve mutual benefits and win-win results. He also suggested the UCLG members adhere to the policy of open market and fight against the trade and investment protectionism with concrete actions. Furthermore, he pointed out that the world cities and local governments should encourage innovation to promote new growth points and a new round of restructuring of global industries. In the speech, Xi also introduced the achievements of social and economic development made in the past 60 years since the founding of the New China and especially since the opening up and reform policy was carried out 30 years ago. During the past 30 years, the industrialization and urbanization process of China has dramatically accelerated, he said. The urbanization rate was only 17.9 percent in 1978, and the figure jumped to 45.7 percent in 2008, a growth of one percentage point per year. Xi also explained the policies that China has taken to respond to the global financial crisis. He said although the world economy had showed some positive changes, the full recovery would still have a long way to go. China would do its best to stabilize its own economic development, while playing an active role in international cooperation in order to promote the recovery of world economy, he noted. He reiterated that China would continue to support the developing countries with a responsible attitude and fulfill its commitments of providing foreign assistance so as to push forward the realization of UN Millennium Development Goals. Beijing Municipal government and the Chinese People's Association for Friendship with Foreign Countries (CPAFFC) jointly held the World Council Meeting of UCLG in June, 2005. This year's UCLG World Council Meeting was co-hosted by CPAFFC and the Guangzhou Municipal government.
BEIJING, Jan. 9 (Xinhua) -- Hu Jintao, general secretary of the Central Committee of the Communist Party of China (CPC), urged to deepen fiscal and taxation system reforms, and improve the efficiency of fiscal management, so as to maintain steady and comparatively fast economic development. It is imperative to continue the pro-active fiscal policy and moderately loose monetary policy, with priority given to the implementation of policies that support domestic consumption expansion, economic growth, economic structure adjustments and projects concerning people's livelihood, said Hu at a seminar attended by members of the Political Bureau of the CPC Central Committee and researchers from the nation's top think tanks on Friday afternoon. He also called for more investment in agriculture and rural areas, independent innovation and fostering of emerging strategic industries. More fiscal resources should be channeled to promote public welfare development and back up undertakings concerning people's livelihood, especially education, employment, social security, medical care, affordable housing construction, and environmental protection, according to Hu. Hu also called for improving the taxation system by optimizing taxation system structure, working out a more fair distribution of the tax burden, and standardizing income distribution, in a bid to promote healthy economic development.
QINGDAO, Shandong, Jan. 10 (Xinhua) -- The most severe icing situation in the past 30 years in the coast off east China's Shandong Province continued to worsen amid cold snaps, oceanic officials said Sunday. Sea ice appeared last week along the coastline of the Bohai Sea and northern Yellow Sea as cold fronts pushed the temperature down to minus 10 degrees Celsius, said Guo Kecai, deputy general engineer of the North China Sea Branch (NCSB) of the State Oceanic Administration. A mariculturist breaks the ice on the sea in Jiaozhou, east China's Shandong Province, Jan. 10, 2010The outer edge of the ice sheets in the Liaodong Bay, Bohai Bayand northern Yellow Sea extended 60 nautical miles, 15.5 nautical miles and 20 nautical miles, respectively, according to the NCSB. With another cold front expected Monday, the sea ice along the coastline would further develop, experts said. More than 200 fishing boats were frozen at a port in Dongying Village in the Jiaozhou Bay. Fishermen said the ice sheet could be20 cm to 30 cm thick. Police help move the vessels stucked by ice in Qingdao, east China's Shandong Province, Jan. 10, 2010In the waters near Liaodong Bay and Laizhou Bay, floating ice was reported in an area of 65 to 75 nautical miles, with ice measured more than 50 cm thick, threatening ship navigation, anchoring and operations at ports, Transport Minister Li Shenglin said Saturday. The NCSB had strengthened monitoring on icing conditions and sent warnings to local residents and governments.
SANAA, Oct. 24 (Xinhua) -- A Chinese military vessel arrived in the Aden port Saturday on a goodwill official visit for the coming several days, official SABA news agency reported. The Chinese military vessel, named Chan Dokouh, is affiliated with the Chinese naval fleet now cruising in the international waters, SANA said. The military ship and its crew were received by a number of senior Yemeni military and security officials at the southern military naval base in Aden, said the report. The visit of the Chinese military vessel to Aden port came as part of the joint bilateral cooperation between Yemen and China, particularly in fighting terrorism, counter-smuggling, combating piracy and ensuring safety of navigation through international waterways, added the report.