XI’AN, Dec. 30 (Xinhua) — “It is the will of the nation to let(Chinese-made) large aircraft fly up into the sky. It must be done and it must succeed,” said Premier Wen Jiabao in a visit to the Xi’an Aircraft Industry (Group) Company on Sunday.

   ”I believe that the day must come and the dream of many generations of Chinese will come true,” Wen said, while speaking with engineers at the company.

    It is a major strategic decision of the Central Committee of the Communist Party of China (CPC) and the State Council to build large aircraft, said the premier, who is also a member of the Standing Committee of the CPC Central Committee Political Bureau.

    Chinese will make large planes that are globally competitive through their own work and wisdom, Wen said. He noted that it was not easy to manufacture large aircraft and China had to make many breakthroughs, especially involving engines, materials and electronic equipment.

    During his stay in Shaanxi Province, on Dec. 29-30, the premier also visited villagers and urban residents to display his great concern over their lives and production while giving his New Year greetings.

    In a visit to some villages, the premier questioned the villagers carefully about wholesale and retail vegetable prices and whether they had received government subsidies for growing grain.

    He also visited a company and some rural households that are raising pigs or sheep.

    In 2007, China has seen nationwide price hikes for food — vegetables, edible oil and meat — and the government has made strenuous efforts to stabilize the market.

    In May, Wen also paid a visit to study the production and supply of pork, a staple meat for many Chinese. Following his visit, the State Council issued a policy to encourage pig breeding.

    Recently, the government allocated 2.5 billion yuan (about 340 million U.S. dollars) for developing modern pig farms and doubled the subsidy, to 100 yuan, for breeding a sow.

    BEIJING, Dec. 30 (Xinhua) — China’s State Council, or the cabinet, publicized over the weekend policies aimed at cushioning the impact of enforcing the unified corporate income tax law.

    The new law, to take effect on Jan. 1, 2008, will replace two earlier regulations that date back more than a decade and unify income tax rates for domestic and foreign-funded companies at 25 percent.

    The cabinet said that the new law would be phased in five years. Companies that currently face an income tax of 15 percent will pay 18 percent in 2008, 20 percent in 2009, 22 percent in 2010, 24 percent in 2011 and 25 percent from 2012.

    Companies that are exempt from taxes or have concessional rates will retain their preferences until the original expiration date. Those that don’t show the level of profit can retain their benefits in 2008.

    Companies can make a one-time choice of the tax system that will be most beneficial.

    The cabinet said the transitional steps targeted companies registered with industry and commerce administrations before Mar. 16, 2007.

    Companies in the western part of the country aren’t affected by the new law but will continue to enjoy preferential rates under regulations jointly issued by the Ministry of Finance, State Administration of Taxation and China Customs.

    Also, the country would offer incentives for key high-tech companies registered in special economic zones, including Shenzhen, Zhuhai, Shantou, Xiamen and Hainan, as well as in Shanghai Pudong New Area, on and after Jan. 1, 2008.

    These companies must have proprietary technology and must comply with a range of requirements to be classified as high-tech enterprises.

    For earnings collected within their registered area, such companies would be exempted from corporate income tax for the first two tax years and pay income tax of just 12.5 percent from the third to the fifth tax years. Gains from outside these areas must be calculated separately.

    The transitional polices are effective on Jan. 1, 2008.

    Chinese companies are subject to a statutory income tax rate of33 percent, while many foreign investors have been given tax waivers or reduced tax rates as an incentive to invest in China.

    The new law will, for the first time since 1978, put domestic and foreign firms on an equal footing in income taxation in a government effort to promote fair competition.

    China has been among the top destinations for foreign direct investment (FDI) since it opened up to the world. It was the largest recipient of FDI among all developing nations for 15 successive years. Yet it also attracted per capita foreign investment of 53 U.S. dollars, less than one third of the world average and one-twelfth that of developed nations, according to the Ministry of Commerce.

    The government has become increasingly selective over what types of foreign investment should be preferred and it doesn’t believe the unified arrangements would have much impact on inward FDI.

    HONG KONG, Dec. 30 (Xinhua) — People from different sectors of the Hong Kong society continued to voice their support here Sunday towards the decision by the Chinese National People’s Congress (NPC) Standing Committee on Hong Kong’s constitutional development.

    While commenting on the decision about the constitutional development of the Hong Kong Special Administrative Region (HKSAR) adopted on Saturday by the Standing Committee of the National People’s Congress, the mainstream opinion of the society held that the decision, which accorded with the aspirations of Hong Kong people, set a clear path for the HKSAR’s constitutional development.

    The decision is on issues relating to the methods for selecting the Chief Executive and for forming the Legislative Council of the HKSAR in 2012 and on issues relating to universal suffrage.

    According to the NPC Standing Committee decision, appropriate amendments conforming to the principle of gradual and orderly progress may be made to the specific method for selecting the Chief Executive and that for forming the Legislative Council of the HKSAR in 2012.

    At the same time, the decision made clear that the election of the Chief Executive may be implemented in 2017 through universal suffrage, and that after the Chief Executive is selected by universal suffrage, the election of the Legislative Council of the HKSAR may be implemented by the method of electing all the council members through universal suffrage.

    Chan Wing Kee, Chairman of the Chinese Manufacturers’ Association, said he himself fully supported the national legislature’s decision on the HKSAR constitutional development because “it clarifies the prospect for constitutional development of Hong Kong and helps facilitate the democratic development and focus on economic development.”

    ”The decision has given us a lot of time to make good preparations for selecting the Chief Executive by universal suffrage in 2017,” Chan said.

    Wong Kwok-kin, Chairman of the Hong Kong Federation of Trade Unions, said the timetable of universal suffrage adopted by the top legislature has positively echoed the wishes of Hong Kong society and will help minimize the political disputes within the region.

    Federation of Hong Kong Industries also released a statement to express their support for the NPC Standing Committee decision, saying it showed the central authorities had acknowledged the report submitted by the Chief Executive and set a clear timetable for selecting the Chief Executive through universal suffrage in 2017.

    ”All Federation of Hong Kong Industries members hold concerted stance that the constitutional development of the HKSAR should be put forward in a gradual and orderly process and achieve universal suffrage when the society reaches consensus and the conditions are ripe,” said the statement.

    Hong Kong United Youth Association (HKUYA) also said in a statement that the decision has charted a clearer prospect for the constitutional development of the HKSAR with a clear timetable for universal suffrage in Hong Kong.

    ”The decision by the NPC Standing Committee is conducive to helping the society narrow the discrepancies on the amendments to the methods for selecting the Chief Executive and for forming the Legislative Council in 2012,” the HKUYA said.

    Tsang Yuk-sing, a member of the Executive Council of the HKSAR, described the decision as “an important milestone” in the history of Hong Kong’s constitutional development.

    As the country’s top legislature, the National People’s Congress has its constitutional power to decide a timetable for the HKSAR, Tsang said, adding “I hope that different political parties and groups will bring out their utmost sincerity to work towards selecting Chief Executive through universal suffrage in 2017 and forming the Legislative Council through universal suffrage afterwards.”

    HONG KONG, Dec. 30 (Xinhua) — People from different sectors of the Hong Kong society continued to voice their support here Sunday towards the decision by the Chinese National People’s Congress Standing Committee on Hong Kong’s constitutional development.

    While commenting on the decision about the constitutional development of the Hong Kong Special Administrative Region (HKSAR) adopted on Saturday by the Standing Committee of the National People’s Congress (NPCSC), the mainstream opinion of the society held that the decision, which accorded with the aspirations of Hong Kong people, set a clear path for the HKSAR’s constitutional development.

    The NPCSC decision is on issues relating to the methods for selecting the Chief Executive and for forming the Legislative Council of the HKSAR in 2012 and on issues relating to universal suffrage.

    According to the NPCSC’s decision, appropriate amendments conforming to the principle of gradual and orderly progress may be made to the specific method for selecting the Chief Executive and that for forming the Legislative Council of the HKSAR in 2012.

    At the same time, the NPCSC’s decision made clear that the election of the Chief Executive may be implemented in 2017 through universal suffrage, and that after the Chief Executive is selected by universal suffrage, the election of the Legislative Council of the HKSAR may be implemented by the method of electing all the council members through universal suffrage.

    Chan Wing Kee, Chairman of the Chinese Manufacturers’ Association, said he himself fully supported the NPCSC’s decision on the HKSAR constitutional development because “it clarifies the prospect for constitutional development of Hong Kong and helps facilitate the democratic development and focus on economic development.”

    ”The decision has given us a lot of time to make good preparations for selecting the Chief Executive by universal suffrage in 2017,” Chan said.

    Wong Kwok-kin, Chairman of the Hong Kong Federation of Trade Unions, said the timetable of universal suffrage adopted by China’s top legislature has positively echoed the wishes of Hong Kong society and will help minimize the political disputes within the region.

    Federation of Hong Kong Industries also released a statement to express their support for the NPCSC’s decision, saying the decision showed the central authorities had acknowledged the report submitted by the Chief Executive and set a clear timetable for selecting the Chief Executive through universal suffrage in 2017.

    ”All Federation of Hong Kong Industries members hold concerted stance that the constitutional development of the HKSAR should be put forward in a gradual and orderly process and achieve universal suffrage when the society reaches consensus and the conditions are ripe,” said the statement.

    Hong Kong United Youth Association (HKUYA) also said in a statement that the NPCSC’s decision has charted a clearer prospect for the constitutional development of the HKSAR with a clear timetable for universal suffrage in Hong Kong.

    ”The decision by NPCSC is conducive to helping the society narrow the discrepancies on the amendments to the methods for selecting the Chief Executive and for forming the Legislative Council in 2012,” the HKUYA said.

    Tsang Yuk-sing, a member of the executive Council of the HKSAR, described the NPCSC’s decision as “an important milestone” in the history of Hong Kong’s constitutional development.

    As the country’s top legislature, the National People’s Congress has its constitutional power to decide a timetable for the HKSAR, Tsang said, adding “I hope that different political parties and groups will bring out their utmost sincerity to work towards selecting Chief Executive through universal suffrage in 2017 and forming the Legislative Council through universal suffrage afterwards.”

    HONG KONG, Dec. 30 (Xinhua) — Hong Kong newspapers on Sunday gave extensive coverage on the decision by the Standing Committee of the National People’s Congress (NPC), China’s top legislature, on the constitutional development of the Hong Kong Special Administrative Region (HKSAR), noting that it is a major breakthrough and a milestone in this regard.

    ”To specify a timetable for universal suffrage by the NPC Standing Committee not only indicates that the Central Government has jurisdiction over Hong Kong’s constitutional development, but also demonstrates the Central Government’s determination and sincerity to push forward democratic development in Hong Kong in accordance with the provisions of the Basic Law,” says Wen Wei Po in its editorial.

    The decision also charts a clearer direction for Hong Kong’s future constitutional development, providing an institutional guarantee for the stability and development of the political system in Hong Kong, it notes.

    ”Thereafter, Hong Kong has entered a new stage in concretely implementing universal suffrage in its constitutional development,” the editorial says.

    On Saturday, the NPC Standing Committee made a decision in Beijing on the constitutional development of the HKSAR, which said that the election of the fifth HKSAR Chief Executive in the year 2017 may be implemented by the method of universal suffrage.

    The decision also said that after the Chief Executive is selected by universal suffrage, the election of HKSAR Legislative Council may be implemented by the method of electing all the members by universal suffrage.

    ”The decision by the NPC Standing Committee is not only a major breakthrough in Hong Kong’s constitutional development but also a fundamental reflection of the political rights and interests of Hong Kong people under the principle of ‘one country, two systems’, ‘Hong Kong people governing Hong Kong’ and a high degree of autonomy,” says Ta Kung Po daily in its editorial.

    The editorial calls on Hong Kong people to concentrate their attention on developing economy, improving their livelihood and promoting social harmony and stability so as to create favorable conditions for the smooth realization of universal suffrage.

    In its commentary, the South China Morning Post, a major English daily newspaper, says that the NPC Standing Committee’s decision paves the way for the achievement of universal suffrage for both the Chief Executive and Legislative Council within a timeframe.

    ”In that respect, we should welcome it and seize the opportunity,” it says.

    Other daily newspapers, such as Mingpao, Singtao and Singpao, also carry commentaries urging Hong Kong people to treasure the opportunity and seek consensus to work towards universal suffrage in a pragmatic way.

    ”In the next 10 years, Hong Kong people no longer need endless arguments, instead, they should take concrete efforts in areas such as legislation, education and cultivation of political talents to meet future constitutional development,” says Singtao in its commentary.

    HONG KONG, Dec. 30 (Xinhua) — Hong Kong newspapers on Sunday gave extensive coverage on the decision by the Standing Committee of the National People’s Congress (NPC), China’s top legislature, on the constitutional development of the Hong Kong Special Administrative Region (HKSAR), noting that it is a major breakthrough and a milestone in this regard.

    ”To specify a timetable for universal suffrage by the NPC Standing Committee not only indicates that the Central Government has jurisdiction over Hong Kong’s constitutional development, but also demonstrates the Central Government’s determination and sincerity to push forward democratic development in Hong Kong in accordance with the provisions of the Basic Law,” says Wen Wei Po in its editorial.

    The decision also charts a clearer direction for Hong Kong’s future constitutional development, providing an institutional guarantee for the stability and development of the political system in Hong Kong, it notes.

    ”Thereafter, Hong Kong has entered a new stage in concretely implementing universal suffrage in its constitutional development,” the editorial says.

    On Saturday, the NPC Standing Committee made a decision in Beijing on the constitutional development of the HKSAR, which said that the election of the fifth HKSAR Chief Executive in the year 2017 may be implemented by the method of universal suffrage.

    The decision also said that after the Chief Executive is selected by universal suffrage, the election of HKSAR Legislative Council may be implemented by the method of electing all the members by universal suffrage.

    ”The decision by the NPC Standing Committee is not only a major breakthrough in Hong Kong’s constitutional development but also a fundamental reflection of the political rights and interests of Hong Kong people under the principle of ‘one country, two systems’ ,’Hong Kong people governing Hong Kong’ and a high degree of autonomy,” says Ta Kung Po daily in its editorial.

    The editorial calls on Hong Kong people to concentrate their attention on developing economy, improving their livelihood and promoting social harmony and stability so as to create favorable conditions for the smooth realization of universal suffrage.

    In its commentary, the South China Morning Post, a major English daily newspaper, says that the NPC Standing Committee’s decision paves the way for the achievement of universal suffrage for both the Chief Executive and Legislative Council within a timeframe.

    ”In that respect, we should welcome it and seize the opportunity,” it says.

    Other daily newspapers, such as Mingpao, Singtao and Singpao, also carry commentaries urging Hong Kong people to treasure the opportunity and seek consensus to work towards universal suffrage in a pragmatic way.

    ”In the next 10 years, Hong Kong people no longer need endless arguments, instead, they should take concrete efforts in areas such as legislation, education and cultivation of political talents to meet future constitutional development,” says Singtao in its commentary.