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BEIJING, March 31 -- The shifting of a 40-year-old system of setting annual iron ore prices to a short-term pricing mechanism may shake up the Chinese steel industry by creating an even playing field for all steel mills - large and small - in terms of raw material costs.BHP Billiton said on Tuesday that it had concluded agreements with a significant number of Asian customers to shift pricing for the majority of its iron ore to short-term contracts, which are based on market prices.A worker at Liaoyang Iron and Steel Company, Liaoning province. There are 1,200 steel mills in China, but only 112 have licenses to import iron ore at long-term prices. Unlicensed firms have to buy iron ore from the spot market.Vale wants a new pricing system every quarter, said Pedro Gutemberg, director of marketing and research at Vale in Beijing on Tuesday, speaking at an industry conference"A more time-adjusted pricing mechanism is needed in order to better reflect real market prices," he said. "Benchmark prices are over. This is a market-oriented industry."That shift may be of some value to smaller steel mills."Vale has offered quarterly priced iron ore to us, which means we could buy iron ore at the same prices that large steel mills pay," said a sales manager at a small, private steel mill that doesn't have an iron ore import license.
WELLINGTON, May 17 (Xinhua) -- Visiting General Guo Boxiong, vice-chairman of China's Central Military Commission, met Monday here with New Zealand Prime Minister John Key, and both sides pledged further efforts to promote military cooperation.Although China and New Zealand are far apart geographically, the two countries have been very friendly to each other, Guo said.Bilateral ties have developed rapidly with frequent high-level visits, enhanced cultural and humanitarian exchanges, and closer economic cooperation, Guo said.He also hailed the increase of two-way trade volume between China and New Zealand in the wake of the global financial crisis, and said that New Zealand was the first Western country to sign a free trade agreement with China.In recent years, the two countries have been developing their military-to-military relations in an active manner under the principles of mutual respect, mutual trust, equality and mutual benefit, said Guo, adding that exchanges were also held in such areas as group visits, negotiations and talks, as well as personnel training.
CANBERRA, May 14 (Xinhua) -- Visiting General Guo Boxiong, Vice- Chairmen of China's Central Military Commission met the Australian Chief of the Defense Force Air Chief Marshall Angus Houston on Friday.Guo said China and Australia have extensive range of common interests and hold responsibilities in safeguarding regional stability and promoting common development.The two countries are important trading partners, maintaining good dialogues and consultation in responding to international financial crisis, climate change and other major issues such as the Asia-Pacific regional cooperation, he added.According to Guo, defense and military relations between China and Australia in recent years are more matured, more dynamic and the cooperation has great potential and bright prospects for development.In order to better response to the diversity of regional and global challenges, the two sides need to further strengthen communication, enhance mutual trust, consolidate the basis of mutually beneficial cooperation, the Chinese General said.Houston said that together with the increasing national strength, China will play a greater role in global and regional affairs. Australia hopes to strengthen cooperation with China in communication and cooperation, jointly safeguarding regional peace and stability.He said that meanwhile, the Australian government is satisfied with the current bilateral defense and military relations.Guo arrived on Tuesday in Australia for an official visit, and held talks with Australian Defense Minister John Faulkner and met with Australian Foreign Minister Stephen Smith.
ASTANA, May 28 (Xinhua) -- Defense ministers of China and Kazakhstan agreed Friday to upgrade cooperation of the two militaries to a new level.At a meeting with his Kazakh counterpart, Adilbek Dzhaksybekov, visiting Chinese Defense Minister Liang Guanglie recalled the smooth growth of the bilateral cooperative relationship since the establishment of diplomatic ties between China and Kazakhstan, including frequent top-level exchanges, deepening of political trust, and expansion of cooperation in all aspects.He recalled frequent meetings between Chinese President Hu Jintao and his Kazakh counterpart, Nursultan Nazarbayev. The two leaders held in-depth discussions on how to further bilateral strategic partnership, thus continuously adding new momentum and providing guidance to the development of bilateral ties.Liang said military-to-military relationship is a key part of overall bilateral relations. Supported by leaders of both nations, relations between the two militaries have been growing steadily while leaders of both militaries have maintained frequent contacts on bilateral and multilateral occasions. Exchange and cooperation between the two militaries are being strengthened across the board.Liang expressed the hope to increase contacts and deepen cooperation with the Kazakh side, so as to upgrade the relationship between the two militaries to a new level.Dzhaksybekov agreed. He noted that the two countries have maintained a high-level of mutual trust and frequent contacts between their leaders. The two nations also have same or similar views on many regional and global issues, and have maintained mutual support and close coordination in addressing those issues.He said developing relations with China, a friendly neighbor, is a top priority of Kazakhstan's foreign policy. The Kazakh military attaches great importance to forging closer ties with the Chinese military and is willing to increase bilateral cooperation in personnel training, exchanges between relevant military branches, military technology, joint exercises, and other areas.Liang was on the last leg of a three-nation goodwill trip that has taken him to Pakistan and Turkmenistan.
BEIJING, May 7 (Xinhua) -- China's policy of actively attracting foreign investment will not change, said vice minister of commerce Ma Xiuhong Friday.The Ministry of Commerce will keep working to maintain a good investment environment for foreign companies, said Ma during a discussion with multinational firms."The ministry will strengthen its communication with multinational corporations and foreign enterprises," she said.China could provide new opportunities for foreign investors as the country is in a process of modernization, urbanization and transformation of its economic development pattern, said Ma.She hoped that while achieving their own development goals, foreign enterprises could play a larger role in China's pursuit of scientific innovation, industrial upgrading, and more balanced regional economic development.Representatives from 64 multinational corporations and four foreign chambers of commerce participated in the discussion. They were joined by officials from a number of Chinese government departments, including the Ministry of Finance and Ministry of Industry and Information.Foreign direct investment to China increased 7.7 percent year on year to 23.44 billion U.S. dollars in the first quarter.