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BEIJING, Nov. 18 (Xinhua) -- China's economy is expected to grow by 9 percent next year on robust property and automobile sectors, chairman of CCXI, a China-based credit rating agency said Tuesday. Mao Zhenhua, the chairman, also forecast the country's GDP growth this year would expand by as much as 8.8 percent. He added China's economic growth for the next ten years would slightly fall from the peak in 2010 to around 7 percent around 2020, still a relatively fast pace compared to other countries. But he cautioned the heavy reliance on exports and investment as major drivers to the Chinese economy has not changed currently, and that the structure for economic growth has not been optimized. Mao made the remarks while addressing a conference that also shared outlooks for China's property market, and its automobile industry for the next year. "China's property market is to remain steady in the next 6 or 12 months due to strong underlying housing demand in the country," said Kaven Tsang, assistant vice president of Moody's Investors Service Hong Kong Limited. He attributed strong housing demand to rapid economic growth, expanding urbanization and rising living standards in the country. Reduced inventory after strong sales over the past few quarters and improved liquidity of developers are also preventing a substantial decline in the property sector, he said. According to the National Bureau of Statistics (NBS), housing sales in China reached 2.75 trillion yuan (403 billion U.S. dollars) in value for the first three quarters this year, a year-on-year increase of 73 percent. Amid weak exports, the Chinese government will also continue to promote domestic consumption and see fixed-asset investment increase, with the property sector remaining "central" to the Chinese economy, said Tsang. NBS figures show investment in the real estate sector in China posted a 28.4 percent growth in October this year. The CCXI also forecast China would continue to see robust growth in auto sales in 2010, driven by the steady development of national economy, rise in individual income and stronger demand from China's central and west regions. Chang Haizhong, senior CCXI analyst, said "cars have great market potential in the central and west regions which will become a new growth point for auto industry." For example, sales of heavy trucks are expected to grow considerably next year, boosted by the government's massive fixed-asset investment, fast development of logistics and expansion of expressway network. "Bus and sightseeing coach sales will also rise next year, as the government is determined to step up development of public transit systems, and people show more willingness to travel," Chang said. He also said auto joint ventures in the country would try to seek a bigger share of middle and low-end market while keeping the dominant position in high-end market next year, posing a threat to domestic self-owned automakers. Chevrolet, an arm of Shanghai GM, introduced SAIL, a new car model last week. Sales of the new model, priced less than 60,000 yuan, would start in January next year. In the first ten months this year, auto sales in China broke the 10 million mark to 10.89 million units, up 36.23 percent from a year ago, surpassing the United States as the world's largest auto market.
BEIJING, Nov. 26 (Xinhua) -- China has tightened settlement and sale of foreign exchange by individuals to curb non-normal cross-border capital inflow, according to a statement of the State Administration of Foreign Exchange (SAFE). Banks should deny, review or report to foreign exchange regulators, individual purchases or settlements of foreign exchange suspicious of splitting up one deal into several smaller ones to dodge limits on the size of exchange transfer by one person, which is understood to be one of the channels for hot money inflow, said the statement on Wednesday. Practices including one overseas individual or institution remitting foreign exchange to five or more individuals within China who settle them respectively, or five or more individuals buying foreign exchange and remitting them to one and the same overseas individual or institution, on a single day, every other day or consecutive days, are considered exchange splitting behavior, said the SAFE. China in 2007 set the limit of up to 50,000 U.S. dollars per year for an individual to exchange between yuan and foreign exchange.
SHANGHAI, Nov. 15 (Xinhua) -- U.S. President Barack Obama will start his four-day China visit Sunday in Shanghai, and the highlight of his visit in the eastern city will be broadcast live by Xinhuanet, the online news service of the Xinhua News Agency. This is Obama's first visit to China since he took office in the White House more than a year ago. Obama is scheduled to meet with Chinese youth on Monday in Shanghai, during which he will pick up a number of questions out of more than 3,200 put forward by China's Internet users over the past two days. The whole event will be broadcast live online, according to the Xinhuanet. Obama will arrive in Beijing on Monday afternoon.
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PARIS, Oct. 21 (Xinhua) -- French Prime Minister Francois Fillon Tuesday met with visiting Chinese State Councillor Dai Bingguo on bilateral ties at the Matignon Palace in Paris. French President Nicolas Sarkozy and his Chinese counterpart Hu Jintao had reached consensus on the development of the comprehensive strategic partnership between the two nations during their meeting in New York last month, which charted the orientation for further development of their bilateral ties, Fillon said. France would make joint efforts with China to implement the consensus reached by the two leaders, deepen the strategic cooperation and boost cooperation in fields of nuclear power, aviation, environmental protection, new energy and small and medium-sized enterprises, Fillon said. For his part, Dai said China-France relations had developed smoothly on the whole since the two nations forged diplomatic ties45 years ago. China has treasured its ties with France and is ready to work with France to ensure that bilateral ties will further develop on the right direction, he said. He urged the two countries to handle their bilateral ties from a strategic and long-term perspective, work hard to create and maintain a favorable atmosphere and environment for the development of China-France relations, and ensure the steady and sound development of their bilateral ties on the right track, he said. Dai left Beijing last Friday to visit Britain and France at the invitation of the two governments. He arrived in France on Tuesday.
BEIJING, Oct. 30 (Xinhua) -- Chinese Vice President Xi Jinping said here Friday that members of the Communist Party of China (CPC) should better comprehend the Scientific Outlook on Development and use it to guide their work. Xi, who is also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, called for intensified efforts of CPC members to study the gist of the recently concluded Fourth Plenary Session of the 17th CPC Central Committee and incorporate the requirements of Scientific Outlook on Development into daily work and life. Xi made the remarks at a meeting on further studying and implementing the Scientific Outlook on Development. The Scientific Outlook on Development stresses people-oriented, comprehensive, coordinated and sustainable economic and social development. The Fourth Plenary Session of the 17th CPC Central Committee, which concluded on Sept. 18, decided to expand democracy within the Party and further fight corruption.
JINGGANGSHAN, Jiangxi, Nov. 4 (Xinhua) -- A senior Chinese official has called on the country's police and other law enforcement organs to improve their capabilities to better serve the people and rely on the people to safeguard social harmony and stability. Zhou Yongkang, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remark at a meeting attended by police chiefs during his visit to Jinggangshan, where late Chairman Mao Zedong and other revolutionists established the CPC's first rural revolutionary base in 1927, in east China's Jiangxi Province. Law enforcement departments and police should handle public's complaints with earnest attitude, improve their credibility in law enforcement and rely on the masses of people to safeguard social harmony and stability, said Zhou, who also heads the CPC Central Political and Legislative Affairs Committee. He also called on the police officials to be innovative in their work and to strengthen the building of grassroots police organs. Zhou visited the Jinggangshan martyrs' memorial park to pay respect to more than 48,000 revolutionary martyrs buried there, late Chairman Mao's former residence and other revolutionary sites on Tuesday. Meng Jianzhu, Minister of Public Security who also attended the meeting, asked police departments at all levels to explore new methods for safeguarding national security and social stability.
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BEIJING, Oct. 23 (Xinhua) -- China hopes the United States can take active steps to eliminate discriminatory measures towards Chinese poultry products, said Yao Jian, spokesman of China's Ministry of Commerce, on Friday. Yao made the remarks in a comment on the ministry's official website on the 2010 Agriculture Appropriations Bill, which has modified the stance towards Chinese poultry imports, compared to that in the Omnibus Appropriations Act 2009. "We welcome the changes," Yao said. He pointed out, however, there are still restrictions against Chinese poultry products in the new bill. "China is evaluating whether the restrictions are totally in line with the non-discrimination principle of the World Trade Organization and other relevant regulations," Yao said. "China's poultry products are safe and reliable... We hope the United States can stand on the footing of maintaining mutual benefit in China-U.S. trade and take active steps to eliminate discriminatory measures and normalize bilateral poultry trade at an early date," Yao said. Yao hoped that the U.S. could modify relevant regulations to resume poultry imports from China. The U.S. House of Representatives passed the 410-billion-U.S.-dollar Omnibus Appropriations Act 2009 in February, which said "none of the funds made available in this Actmay be used to establish or implement a rule allowing poultry products to be imported into the United States from the People's Republic of China."
MANILA, Nov. 19 (Xinhua) -- China's top political adviser, Jia Qinglin, and Philippines Senate President Juan Ponce Enrile pledged to boost cooperation between the Chinese People's Political Consultative Conference (CPPCC) and the Philippine Senate when they met here Thursday. Jia, chairman of the CPPCC National Committee, said China-Philipines ties had witnessed healthy development since the two countries established diplomatic ties in 1975. "China and the Philippines share broad common interests," Jia said, highlighting the enhanced mutual political trust, booming economic and trade ties, frequent humanitarian and cultural exchanges and close coordination on international and regional issues. Jia Qinglin (R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with Juan Ponce Enrile, president of the Philippine Senate, in Manila on Nov. 19, 2009. Jia Qinglin arrived in Manila on Nov. 19 for a two-day official goodwill visit to the Philippines China appreciated the Philippine parliament's firm adherence to the one-China policy on the Taiwan issue, Jia noted. He said China and the Philippines could further cooperate in fighting the global economic crisis and China would like to enhance cooperation with the Philippines in such sectors as trade, two-way investment, tourism, education and culture with the principle of equality and mutual benefit, he said. Jia spoke highly of the close contact and exchange between the CPPCC and the Philippines Senate, pledging to step up exchanges and learn from each other to promote the social development of the two countries. Enrile said the Philippines enjoyed great benefits from the friendly and cooperative ties with China. He appreciated China's aid to the typhoon-hit areas of the Philippines and vowed to unswervingly stick to the one-China policy. After their talks, Jia and Enrile witnessed the signing of several agreements on economic, education and disaster relief cooperation. Jia arrived in Malina Thursday afternoon for a two-day official visit as guest of Enrile. He will also visit Peru, Ecuador and Brazil.
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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.
JINGGANGSHAN, Jiangxi, Nov. 4 (Xinhua) -- A senior Chinese official has called on the country's police and other law enforcement organs to improve their capabilities to better serve the people and rely on the people to safeguard social harmony and stability. Zhou Yongkang, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remark at a meeting attended by police chiefs during his visit to Jinggangshan, where late Chairman Mao Zedong and other revolutionists established the CPC's first rural revolutionary base in 1927, in east China's Jiangxi Province. Law enforcement departments and police should handle public's complaints with earnest attitude, improve their credibility in law enforcement and rely on the masses of people to safeguard social harmony and stability, said Zhou, who also heads the CPC Central Political and Legislative Affairs Committee. He also called on the police officials to be innovative in their work and to strengthen the building of grassroots police organs. Zhou visited the Jinggangshan martyrs' memorial park to pay respect to more than 48,000 revolutionary martyrs buried there, late Chairman Mao's former residence and other revolutionary sites on Tuesday. Meng Jianzhu, Minister of Public Security who also attended the meeting, asked police departments at all levels to explore new methods for safeguarding national security and social stability.