China's import and export value on motor vehicles and related products stood at 7.417 billion U.S. dollars in August, a decline of 3.85 percent from the previous month, according to China Association of Automobile Manufacturers .
The total included 2.713 billion U.S. dollars in arrivals, down 7.6 percent from a month ago, but up 22.58 percent over the year-earlier level; and 4.704 billion dollars in foreign sales, down 1.53 percent month-on-month, but up 23.32 percent year-on-year.
August saw the nation's imports of complete vehicles, particularly large-engine cars, increase from a month earlier, but exports of such products drop.
China bought from abroad 5,365 vehicles each with a displacement of at least 3,000 ml last month, up 28.7 percent on the same month of last year.
CAAM analysts attributed the growth to higher demand for big-displacement cars at home in advance of the expected rises of consumption tax as of Sept. 1.
Spurred by the increase of big-displacement car imports, China's total car arrivals reached 14,000 units in August, up 8.7 percent over the same month of last year, or up 26 percent over the previous months.
But August witnessed the first monthly decline over recent few years in China's car exports, due largely to shrinking demand overseas.
The country sold abroad 44,400 motor vehicles last month, down 22.18 percent from the previous month, or 11.29 percent from a year earlier.
CAAM data showed that between January and August, China's foreign trade value on motor vehicles and related products amounted to 56.333 billion U.S. dollars. The total included 21.983 billion dollars in import value, up 35.15 percent year-on-year, and 34.35 billion dollars in export value, up 36.5 percent.
Source:Xinhua
Saturday, October 18, 2008
China signs zero-tariff trade deal with Senegal
China signed Friday a trade deal with Senegal to offer zero-tariff treatment to more than 400 categories of goods imported from Senegal.
The agreement was inked by Chinese Ambassador to Senegal Lu Shaye and Senegalese Minister for Commerce Mamadou Diop in Dakar, Senegal's capital.
The trade deal will elevate their bilateral trade and economic ties to a new stage and will also foster people-to-people exchanges between the two sides, said Lu.
The two peoples will benefit from the agreement which raised the number of tariff-free Senegalese export products to China from about 190 in 2005 to more than 600, the Chinese ambassador added.
Diop said that the agreement was of great significance for the two countries to strengthen their economic and trade cooperation.
Friendly bilateral cooperation in various fields, particularly in trade and economy, has been booming since China and Senegal resumed diplomatic ties in October 2005, the minister said.
More Senegalese are now running businesses or have started their own enterprises in China, he said, adding that he welcomed more Chinese businessmen to make investment in Senegal.
At the Beijing Summit of the China-Africa Cooperation Forum in 2006, the Chinese government pledged to further open China's market to exports from Africa's least developed countries by raising the number of products enjoying zero-tariff treatment from190 to 440.
Source:Xinhua
The agreement was inked by Chinese Ambassador to Senegal Lu Shaye and Senegalese Minister for Commerce Mamadou Diop in Dakar, Senegal's capital.
The trade deal will elevate their bilateral trade and economic ties to a new stage and will also foster people-to-people exchanges between the two sides, said Lu.
The two peoples will benefit from the agreement which raised the number of tariff-free Senegalese export products to China from about 190 in 2005 to more than 600, the Chinese ambassador added.
Diop said that the agreement was of great significance for the two countries to strengthen their economic and trade cooperation.
Friendly bilateral cooperation in various fields, particularly in trade and economy, has been booming since China and Senegal resumed diplomatic ties in October 2005, the minister said.
More Senegalese are now running businesses or have started their own enterprises in China, he said, adding that he welcomed more Chinese businessmen to make investment in Senegal.
At the Beijing Summit of the China-Africa Cooperation Forum in 2006, the Chinese government pledged to further open China's market to exports from Africa's least developed countries by raising the number of products enjoying zero-tariff treatment from190 to 440.
Source:Xinhua
Iron ore arrivals in China continue to rise unexpectedly last month
China's iron ore imports failed the expectations for a substantial decline in September, due largely to traders and steel makers betting on possible mounting demand after the Beijing Olympics.
According to latest customs data, China bought from abroad 39.2 million tonnes of iron ores last month, up 1.8 million tonnes on the August figure. The arrivals were valued at 5.79 billion U.S. dollars, up 18.2 million dollars from the previous month.
The import volume went against expectations and failed to be inline with real demand at home over the past weeks, Xu Xiangchun, a steel industry analyst, said on Saturday.
Since the beginning of September, major Chinese steel manufacturers have announced to slash production upon falling steel prices on the domestic market.
Xu predicted that the less demand would be reflected in import figures for October and November.
Between January and September, China imported 346.11 million tonnes of iron ores, up 22 percent over the same period of last year. The arrivals were valued at 48.9 billion dollars, up 116 percent.
Source:Xinhua
According to latest customs data, China bought from abroad 39.2 million tonnes of iron ores last month, up 1.8 million tonnes on the August figure. The arrivals were valued at 5.79 billion U.S. dollars, up 18.2 million dollars from the previous month.
The import volume went against expectations and failed to be inline with real demand at home over the past weeks, Xu Xiangchun, a steel industry analyst, said on Saturday.
Since the beginning of September, major Chinese steel manufacturers have announced to slash production upon falling steel prices on the domestic market.
Xu predicted that the less demand would be reflected in import figures for October and November.
Between January and September, China imported 346.11 million tonnes of iron ores, up 22 percent over the same period of last year. The arrivals were valued at 48.9 billion dollars, up 116 percent.
Source:Xinhua
EU, Canada support world summit on financial crisis
French President Nicolas Sarkozy and Canadian Prime Minister Stephen Harper said Friday they both support convening an international financial summit to discuss the current crisis by the end of the year.
The two leaders made the remarks at a press conference after a summit between Canada and the European Union. Sarkozy is the 27-member EU's rotating president.
Sarkozy has been pushing for some time to convene a summit that will seek rebuilding the global financial system to provide strengthening supervision on the markets, in order to prevent any new crisis.
He has gained the support of members of the European Union and is due to meet with U.S. President George W. Bush, together with European Commission President Jos Manuel Barroso, to discuss the crisis.
Harper added that Canada and the European Union reaffirmed their determination to restore confidence and normal functioning in the financial system.
About the "format" of the summit in sight, Sarkozy explained that the G8 would be a good shape, but he prefers inviting emerging countries for a serious dialogue as to how to face the world's biggest financial crisis since the Great Depression in 1930s.
"It's bizarre" to convene such a summit without inviting emerging countries like China and India, he said.
Sarkozy arrived here on Friday. He is to address the opening ceremony of the 12th Francophone summit later in the day.
Source: Xinhua
The two leaders made the remarks at a press conference after a summit between Canada and the European Union. Sarkozy is the 27-member EU's rotating president.
Sarkozy has been pushing for some time to convene a summit that will seek rebuilding the global financial system to provide strengthening supervision on the markets, in order to prevent any new crisis.
He has gained the support of members of the European Union and is due to meet with U.S. President George W. Bush, together with European Commission President Jos Manuel Barroso, to discuss the crisis.
Harper added that Canada and the European Union reaffirmed their determination to restore confidence and normal functioning in the financial system.
About the "format" of the summit in sight, Sarkozy explained that the G8 would be a good shape, but he prefers inviting emerging countries for a serious dialogue as to how to face the world's biggest financial crisis since the Great Depression in 1930s.
"It's bizarre" to convene such a summit without inviting emerging countries like China and India, he said.
Sarkozy arrived here on Friday. He is to address the opening ceremony of the 12th Francophone summit later in the day.
Source: Xinhua
British expert: Europe seeks co-op with Asia to cope with financial crisis
Europe will seek cooperation with Asian countries in the upcoming seventh Asia-Europe Meeting in Beijing in a bid to cope with the ongoing global financial crisis, a British expert on Asian affairs said in a recent interview with Xinhua.
Under the current circumstances, "Europe will seek to gain cooperation with the Asian financial sector," said Alexander Neill, head of the Asia Program at the Royal United Services Institute for Defence and Security Studies, a leading think tank in London founded in 1831.
Many European countries have invested in Asia, so "it is in Europe's interest to prevent the financial collapse in Asia," said Neill.
As the stock markets in Shanghai, Tokyo, Delhi, and Singapore all suffered recently "as a knock-on effect of the worldwide financial instability which started in the United States," Neill said discussions on the "financial solutions to guard against the collapse of some of the Asia tiger economies" would be urgent.
According to Neill, the current financial crisis would push Europe to achieve closer cooperation with Asia.
"I think Europeans will go to where the capital is, where the growth is," said the expert, adding that "ensuring the sustainable growth in Asia will be helping sustain growth in Europe," and is the key to retaining European investment in Asia.
In the past, Europe lacked a comprehensive approach to Asia, due to the fact that "each member of the European Union has put its own bilateral consideration first when it comes to engagement with Asian countries," said Neill.
But as Europe has realized that future prosperity is linked to success in Asia, it has recently solidified its efforts and policy objectives toward Asia, and a "unified approach" will be a must, added the expert.
"It is also important that there are some discussions with countries like China, India over their specific interests, regional interests, because both China and India are investing heavily locally, particularly Southeast Asia, and also central Asia," Neill said.
Despite the fierce competition in Asia and Europe's concern over problems such as its trade imbalances with India and China, Neill expressed confidence in the joint efforts by Brussels and major Asian countries to create a win-win situation in the future.
During the two-day summit, discussions will also touch upon topics such as energy security, food prices, climate change and anti-terrorism.
"Energy security would be high on the agenda," as energy is vital to sustaining the economy in western Europe and new members of the EU, he said, adding, "Rising energy prices will cause problems for recession in Europe."
Speaking on food security, Neill said that soaring food prices are affecting everyone in the world, especially the poor in Asia.
The seventh ASEM summit will be held in Beijing on Oct. 24-25, to be attended by leaders and delegates from 45 Asian and European countries and organizations.
Under the current circumstances, "Europe will seek to gain cooperation with the Asian financial sector," said Alexander Neill, head of the Asia Program at the Royal United Services Institute for Defence and Security Studies, a leading think tank in London founded in 1831.
Many European countries have invested in Asia, so "it is in Europe's interest to prevent the financial collapse in Asia," said Neill.
As the stock markets in Shanghai, Tokyo, Delhi, and Singapore all suffered recently "as a knock-on effect of the worldwide financial instability which started in the United States," Neill said discussions on the "financial solutions to guard against the collapse of some of the Asia tiger economies" would be urgent.
According to Neill, the current financial crisis would push Europe to achieve closer cooperation with Asia.
"I think Europeans will go to where the capital is, where the growth is," said the expert, adding that "ensuring the sustainable growth in Asia will be helping sustain growth in Europe," and is the key to retaining European investment in Asia.
In the past, Europe lacked a comprehensive approach to Asia, due to the fact that "each member of the European Union has put its own bilateral consideration first when it comes to engagement with Asian countries," said Neill.
But as Europe has realized that future prosperity is linked to success in Asia, it has recently solidified its efforts and policy objectives toward Asia, and a "unified approach" will be a must, added the expert.
"It is also important that there are some discussions with countries like China, India over their specific interests, regional interests, because both China and India are investing heavily locally, particularly Southeast Asia, and also central Asia," Neill said.
Despite the fierce competition in Asia and Europe's concern over problems such as its trade imbalances with India and China, Neill expressed confidence in the joint efforts by Brussels and major Asian countries to create a win-win situation in the future.
During the two-day summit, discussions will also touch upon topics such as energy security, food prices, climate change and anti-terrorism.
"Energy security would be high on the agenda," as energy is vital to sustaining the economy in western Europe and new members of the EU, he said, adding, "Rising energy prices will cause problems for recession in Europe."
Speaking on food security, Neill said that soaring food prices are affecting everyone in the world, especially the poor in Asia.
The seventh ASEM summit will be held in Beijing on Oct. 24-25, to be attended by leaders and delegates from 45 Asian and European countries and organizations.
12th Francophone summit opens in Quebec, efforts urged to solve financial crisis
The 12th Francophone summit opened Friday in Canada's French-speaking Quebec City with Canadian Prime Minister Stephen Harper calling for efforts to help resolve the current global financial crisis.
In a speech at the opening ceremony, Harper told the gathering of French-speaking nations that it has a role to play in helping the world emerge from the global financial crisis.
He stressed that a targeted and efficient response is needed to address the crisis, whose damage are spreading to the developing nations.
He also called for coordinated efforts to strengthen peace, security and global stability.
He urged the states to take effective measures to forge effective and realistic multilateral cooperation.
Other leaders addressing the opening ceremony include French President Nicolas Sarkozy, who reiterated his call for rebuilding a new financial and monetary system.
"We want another monetary system... The IMF must reflect on its operation," said Sarkozy, who has also proposed a world summit dedicated to the financial crisis in the near future.
This summit must also include emerging countries such as China and India, said Sarkozy, whose speech raised applause from participants.
Given that the world faces the most serious economic and financial crisis since the Great Depression 1930s, well coordinated cooperation is necessary, said the French president.
The three-day summit of la Francophonie is bringing together leaders for talks on government and democracy, economy, environment and the future role of the French language.
Representatives of 55 member countries and 13 observer nations, UN Secretary General Ban Ki-moon and Secretary General of La Francophonie Abdou Diouf were present at the ceremony.
"The banking crisis, the financial crisis, and the food crisis, as well as the energy crisis: all of these are to be discussed by leaders at the summit," Diouf said before the conference began.
Jean Charest, Quebec Premier, said before the summit that "the circumstances are such that we're the first North-South forum to take place amid this crisis and so it's an opportunity to measure its impact" particularly on poorer nations.
Source: Xinhua
In a speech at the opening ceremony, Harper told the gathering of French-speaking nations that it has a role to play in helping the world emerge from the global financial crisis.
He stressed that a targeted and efficient response is needed to address the crisis, whose damage are spreading to the developing nations.
He also called for coordinated efforts to strengthen peace, security and global stability.
He urged the states to take effective measures to forge effective and realistic multilateral cooperation.
Other leaders addressing the opening ceremony include French President Nicolas Sarkozy, who reiterated his call for rebuilding a new financial and monetary system.
"We want another monetary system... The IMF must reflect on its operation," said Sarkozy, who has also proposed a world summit dedicated to the financial crisis in the near future.
This summit must also include emerging countries such as China and India, said Sarkozy, whose speech raised applause from participants.
Given that the world faces the most serious economic and financial crisis since the Great Depression 1930s, well coordinated cooperation is necessary, said the French president.
The three-day summit of la Francophonie is bringing together leaders for talks on government and democracy, economy, environment and the future role of the French language.
Representatives of 55 member countries and 13 observer nations, UN Secretary General Ban Ki-moon and Secretary General of La Francophonie Abdou Diouf were present at the ceremony.
"The banking crisis, the financial crisis, and the food crisis, as well as the energy crisis: all of these are to be discussed by leaders at the summit," Diouf said before the conference began.
Jean Charest, Quebec Premier, said before the summit that "the circumstances are such that we're the first North-South forum to take place amid this crisis and so it's an opportunity to measure its impact" particularly on poorer nations.
Source: Xinhua
Chinese premier says he supports developing transgenic engineering
Chinese Premier Wen Jiabao expressed his support for developing transgenic engineering, in a two-hour interview with Bruce Alberts, editor-in-chief of the Science Magazine of the United States on Sept. 30.
In the exclusive interview at the Zhongnanhai leadership compound, Wen said his support of the transgenic engineering was further strengthened by the recent global food shortage.
When China didn't have the transgenic technology in cotton plants 10 years ago, the cotton bollworms would not die even when immersed in pesticides. Wen said," Since we began transgenic engineering of cotton, the plants not only increased their ability to resist bollworms but also increased yield."
"Therefore, I strongly advocate making great efforts to pursue transgenic engineering. The recent food shortages around the world have further strengthened my belief ," said Wen.
Responding Alberts' words on some European states' objection to developing transgenic crops, Wen said if transgenic science was mixed with trade barriers," that would block the development of science".
Source: Xinhua
In the exclusive interview at the Zhongnanhai leadership compound, Wen said his support of the transgenic engineering was further strengthened by the recent global food shortage.
When China didn't have the transgenic technology in cotton plants 10 years ago, the cotton bollworms would not die even when immersed in pesticides. Wen said," Since we began transgenic engineering of cotton, the plants not only increased their ability to resist bollworms but also increased yield."
"Therefore, I strongly advocate making great efforts to pursue transgenic engineering. The recent food shortages around the world have further strengthened my belief ," said Wen.
Responding Alberts' words on some European states' objection to developing transgenic crops, Wen said if transgenic science was mixed with trade barriers," that would block the development of science".
Source: Xinhua
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