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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.
RIYADH, Jan. 10 (Xinhua) -- China and Saudi Arabia convened Sunday the fourth meeting of their joint committee on economy and trade in the Saudi capital, co-chaired by Chinese Minister of Commerce Chen Deming and Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf. Chen hailed the rapid growth of bilateral economic and trade ties since the third meeting of the joint committee in 2006, noting that bilateral trade have realized two years in advance the goal of 40 billion U.S. dollars by 2010, and Saudi Arabia has been China's biggest trade partner in West Asia for eight consecutive years. Chinese Minister of Commerce Chen Deming (L) meets with Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf in Riyadh, capital of Saudi Arabia, Jan. 10, 2010. China and Saudi Arabia convened Sunday the fourth meeting of their joint committee on economy and trade in the Saudi capital, co-chaired by Chinese Minister of Commerce Chen Deming and Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf. He made a five-point proposal, in which he said both countries should strive to expand bilateral trade to reach 60 billion dollars by 2015. He also proposed to maintain the long-term and steady crude oil trade between the two sides, in addition to enhancing cooperation on exploiting gas, oil projects and petrochemical industry, and establish a cooperation mechanism on trade remedy. The Chinese minister stressed that both sides should promote the negotiation process on the free trade agreement between China and the Gulf Cooperation Council (GCC). Chinese Minister of Commerce Chen Deming (C, front) and Saudi Minister of Finance Ibrahim bin Abdel Aziz al-Asaf (R, front) sign the meeting summary in Riyadh, capital of Saudi Arabia, Jan. 10, 2010Al-Asaf, for his part, said that Saudi Arabia hopes to see and will provide convenience for more Chinese enterprises to participate in Saudi economic construction as the country is speeding up its petrochemical industry, urban development, and traffic and environmental protection projects. He said Saudi Arabia welcomed the progress in China-GCC FTA negotiation and will work together with the Chinese side to push forward the process for an early completion. The two ministers met the press after the meeting, during which Chen said both sides have agreed to expand the trade volume to 60 billion U.S. dollars by 2015. Chen also met with the Saudi Minister of Commerce and Industry Abdullah bin Ahmad bin Yussef Zainal on Sunday.
BEIJING, Nov. 9 (Xinhua) -- Chinese Vice Premier Li Keqiang on Monday called on health authorities to ensure safety in the production, storage, transportation, and inoculation process of the vaccines against A/H1N1 influenza, for the health of the public. Li made the remarks when visiting the Beijing-based National Institute for the Control of Pharmaceutical and Biological Products, where the country's self-developed vaccines against the A/H1N1 flu are tested. Chinese Vice Premier Li Keqiang (C) gets to know the examining conditions of A/H1N1 flu vaccine during an inspection of the National Institute for the Control of Pharmaceutical and Biological Products in Beijing, capital of China, on Nov. 9, 2009. Li Keqiang inspected here on Monday, which further highlighted the government's resolve to carry on the influenza vaccination campaign amid the growing infections. "Safety and quality are of top priority," Li said, adding that the inoculation of the A/H1N1 vaccines should always be conducted on an "informed, voluntary, and free" basis. Li noted that autumns and winters were high-occurrence seasons for the flu, and urged the authorities to improve disease prevention and treatment in order to stop the disease from fast spreading across the country. Authorities should focus on disease prevention in key venues and areas, especially schools, and make active efforts to prevent and deal with mass infection of the disease, Li said. Chinese Vice Premier Li Keqiang (1st R, front) gets to know the production and price of A/H1N1 flu vaccine during an inspection of the National Institute for the Control of Pharmaceutical and Biological Products in Beijing, capital of China, on Nov. 9, 2009.They should also give stronger support to disease prevention in the central and western parts of the country, especially in the ethnic minority-dominated regions, Li said. Li asked health workers to try their best to keep the disease's death toll from rising and add traditional Chinese medicines into the prevention and treatment of the flu. As of Monday, the Chinese mainland has reported more than 60,000 cases of the A/H1N1 flu, of which 30 had been fatal. A total of 242 patients were in critical conditions, the Ministry of Health said. As of Monday, the country has inoculated more than 87 million people with A/H1N1 vaccines. China is the world's first country to issue a production license for the vaccines against the A/H1N1 flu.
CHRISTCHURCH, New Zealand, Nov. 1 (Xinhua) -- Chinese Vice Premier Li Keqiang on Sunday visited Canterbury University to open the second Confucius Institute in New Zealand. Li said during the opening ceremony that cultural and educational cooperation are important parts of relations between China and New Zealand. China has become the largest source of overseas students and the fastest growing source of international tourists to New Zealand, while people in New Zealand are taking a strong interest in studying the Chinese language and getting acquainted with Chinese culture, he said. The new Confucius Institute, jointly founded by Canterbury University and China's Huazhong Science and Technology University, represents another achievement of the exchanges and cooperation between the two nations, Li said. He said he hoped the institute would become a link between the two countries in cultural and educational exchanges. Visiting Chinese Vice Premier Li Keqiang (L) gives the tablet to Rod Carr, Vice-Chancellor of University of Canterbury, during the inauguration of Confucius Institute of University of Canterbury in Christchurch, New Zealand, Nov. 1, 2009 China and New Zealand have become good friends and partners based on mutual respect and trust, he said. He said he believed the two countries will further strengthen communications, enhance mutual trust, consolidate their traditional friendship and push their bilateral relations to a newlevel. In addition to opening the institute on the first day of his three-day visit to New Zealand, the Chinese vice premier also met with Christchurch Mayor Bob Parker. During the meeting, Li said China has attached importance to developing cooperative ties with Christchurch, the largest city on New Zealand's South Island. The two sides, the vice premier said, have conducted fruitful exchanges and cooperation in animal husbandry, scientific research and education. The two sides should deepen their cooperation in such fields as farming and animal husbandry, and expand exchanges and cooperation in trade, science and technology, culture, education and tourism, Li said. Parker said the opening of the Confucius Institute marks a new development in New Zealand-China cooperation. He said Christchurch would continue to play a positive role in strengthening the two nations' bilateral friendship and cooperation. Li arrived in Christchurch after an official visit to Australia. He will travel to Papua New Guinea after his visit to New Zealand.
BEIJING, Dec. 25 (Xinhua) -- A senior leader of the Communist Party of China (CPC) on Friday stressed the vital role of science and technology as the country's reform and development was standing at a new starting point. He Guoqiang, member of the Standing Committee of the CPC Central Committee Political Bureau and head of the CPC Central Commission for Discipline Inspection, made the remarks during a visit to the exhibition marking the 60th founding anniversary of the Chinese Academy of Sciences (CAS). "It can't work without science and technology as the first productive force to make further progress in building a moderately prosperous society in all aspects and create new prospects for the cause of socialism with Chinese characteristics," He said. The CAS has made remarkable contributions to the country's economic development, social progress and state security over the past 60 years, he said. As a leading academic institution in China, the CAS was founded in Beijing on Nov. 1, 1949, on the basis of former Central Academy of Sciences and Peiping Academy of Sciences.