Sep
30
    
Posted (admin) in Business News on September-30-2008

    BEIJING, Sept. 30 (Xinhua) — The imports of edible oil slowed in China in the first eight months, affected by the shrinking foreign supply and the related duty policy change.

    The General Administration of Customs (GAC) said on Tuesday that China imported 5.39 million tonnes of edible oil between January and August this year, up 4.7 percent year on year, but 18.9 percentage points lower than the 23.6 percent increase in the same period last year.

    The edible oil imports peaked at 900,500 tonnes in April, but sharply fell to 508,000 tonnes in June, the smallest monthly amount since the beginning of 2007.

    The volume rebounded in July with 730,000 tonnes of imports, but fell back again to 580,000 tonnes in August.

    The slowing imports were mainly blamed on shrinking soybean supply from Argentina, China’s biggest soybean supplier, the customs said.

    The soybean exports dropped sharply in Argentina as farmers went on strike in opposition of government’s decision to float exports duties for farm produce.

    In addition, the preferential policy on soybean imports, namely the one percent import duty was extended to Sept 30, which helped make soybean a substitute for soybean-turned oil, according to the customs.

    To reduce the cost of soybean imports and curb price rises for grain on the domestic market, China slashed import duty on soybeans from three percent to one percent on Oct. 1, 2007.

    GAC said in an analytical report that China relied too much on foreign exports of edible oil, so was prone to the risks of international price volatility, which posed a threat to the national grain security.

    The report suggested that the government unveil an incentive policy to stabilize domestic soybean planting, and encourage the growth of a high-yield breed of edible oil raw material to lessen dependence on foreign supply.

    The domestic key enterprises in soybean planting should be supported in their business expansion in order to break the monopoly of the international heavyweights, the report said.

    China’s edible oil imports has soared more than 200 times from the 1986 level. Some 8.38 million tonnes was imported in 2007, of which most of the imports were soybeans.

    Before 1995, China had been a major producer and net exporter of soybean. But it became a net importer in the five years thereafter.



 
Sep
30
    
Posted (admin) in Business News on September-30-2008

     SINGAPORE, Sept. 30 (Xinhua) — China has the muscles to push short-term domestic growth, but Japan and South Korea will continue to grapple with various difficulties in trying to rev up their sluggish economic engines into higher gear, said Standard & Poor’s Ratings Services here on Tuesday.

    In recent separate reports on the three countries, S&P said China will steer its economic policy toward supporting growth, despite some anticipated hurdles, while Japan and South Korea both face political stalemates, high oil and food prices, decelerating growth, among other issues.

    The report said China is counting on its strong domestic demand to pull its economy ahead this year and next, “We expect tight labor market conditions, together with the implementation of the new Labor Contract law this year, to keep wage growth strong and lower uncertainties faced by employees.”

    Japan, caught in its web of political stalemate and sputtering growth, has little potential for economic improvement in the near term, said S&P.

    The report said Japan, the second-largest economy in the world, will have weak overall growth prospects in 2008. Japan’s GDP growth for fiscal 2008 ending March 31, 2009, is expected to be 0.7 percent, which is lower than earlier forecast of 1.2 percent.

    South Korea’s growth is expected to be slower at 4.3 percent for 2008, from 5.0 percent in 2007, another report on the country by S&P said.    



 
Sep
30
    
Posted (admin) in China & World on September-30-2008

    SHANGHAI, Sept. 30 (Xinhua) — Teppei Okuno applauded with his colleagues in the office when the Shenzhou-7 crew capsule landed on the Inner Mongolia steppe on Sunday afternoon.

    ”The Shenzhou-7 mission is really exciting news to lighten the National Holiday.”

    ”In 2008, the eyes of the world are on China. We fought against natural disasters, we hosted the Olympics, and we even walked in space. WOW, I have to say, we are cool,” Teppei said.

    Teppei has a Japanese father. After graduation from Tokyo University, he and his mother, who is Chinese, moved to Shanghai in 1997 and he applied for Chinese nationality.

    ”I am so proud of my country and my compatriots and happy that I am here with other people going through all the joys and pains for China in 2008,” Teppei said.

    OLYMPICS PUSH CHINA TO CENTER STAGE

    Teppei watched the opening gala at home with his mother. He said both of them were astonished by the show that was masterminded by Chinese filmmaker Zhang Yimou.

    On Aug. 8, the start of the Olympic Games was hailed by TIME magazine (Asia edition) in its “Beijing 8/8/08″ cover story published on Aug. 18 as an event that “heralded the return of China to the center of the world’s stage.”

    Peter M. Herford, the former producer of the U.S. show “60 Minutes” who is now a guest professor teaching journalism at Shantou University in south China’s Guangdong Province, said “the opening was the single event that impressed the outside world more than others. So many aspects of China came together.”

    ”And more that, the use of state-of-the-art tools to produce the spectacle underlined China’s modern infrastructure in a way no other event could have accomplished,” Herford said.

    Herford added that the year 2008 was certainly the “Year of China” and “other events of 2008 cannot take away from the joy of the Olympics.”

    Earlier this March, the riot in Tibet’s capital Lhasa led to the deaths of at least 18 civilians and one policeman. During the overseas legs of the Olympic flame relay, particularly in France, Tibetan separatists and their supporters, protested for an “independent Tibet” and grappled with torchbearers.

    All these unexpected disturbances, not to mention the May 12 earthquake which has been the worst natural disaster for China in the past 30 years, shadowed the nation’s preparation for the Olympics, but China’s resolution to host a successful Olympics wasnot disturbed.

    ”I am proud that China made it a sporting and spectacle success. Whatever attitudes other countries may have towards China, they are watching the Olympics and caring about China.” Teppei said.

    During the Olympic season, Teppei watched events like weight-lifting, basketball, the Chinese diving queen Guo Jingjing, American swimmer Michael Phelps and Jamaican athlete Usain Bolt. Keeping close watch on the Games became as regular as having meals every day.

    ”It’s all about Olympics, wherever you are. People I met on the streets, both foreigners and Chinese, were either watching or talking about the Olympic Games.”

    BRAVE NATION STANDS UP TO NATURAL DISASTERS

    Teppei donated 50 yuan (7 U.S. dollars) to the Red Cross via China Mobile services on the night of the disastrous Sichuan Earthquake that killed more than 69,000 people in the country.

    ”I know the money is only a drop in the ocean, but millions of people like me are doing the same thing, and together we are making a difference,” Teppei said.

    ”We use ‘unity is strength’ as our slogan to get over the disaster, and we did it.”

    The 8.0-magnitude quake erupted without any warning on May 12. Professor Herford said the government was impressive in its organization of relief efforts and China showed the world how people could come together to help those in need.

    ”The volunteers were a phenomenon that impressed many with the Chinese commitment to help their fellow citizens,” Herford said.

    Teppei experienced several earthquakes when he was in Japan, but the one in China was beyond his experience.

    ”People all over the country became so connected after the quake happened. The government was quick to act, money was collected in short time, and makeshift houses were built soon. The army, doctors and volunteers were quick too,” he said.

    Teppei pressed his car’s horn for three minutes at 2:28 p.m. on May 19, exactly a week after the quake, when all sirens and horns wailed and people stood for three minutes in silence to mourn tens of thousands who died in the quake.

    Emotional support and financial aid came from both home and abroad. Domestic and foreign donations exceeded 59 billion yuan (8.6 billion U.S. dollars) in cash and goods. Some overseas Chinese even rushed back from abroad to help with relief work in quake-hit areas.

    ”I was, for the first time, overwhelmed by the nation’s indomitableness and fortitude to unite and fight. Somehow, I feel lucky I am going through whatever happens in China,” said Teppei.

    30TH ANNIVERSARY, NEW START

    Teppei’s childhood memory of Shanghai was tiny toilets made of wood and streets teeming with bicycles, he said, “but now everything has changed. China has a new face.”

    While having scored tremendous achievements in the past decades, China has also been going through many trials, especially in 2008.

    Take the recently-revealed toxic milk scandal for example. It challenges the reputation of “made-in-China” products. Premier Wen Jiabao admitted last Saturday at the World Economic Forum that the country was weak in the production supervision process, but “we will try to ensure that all China-made products are safe for consumers.”

    Confucius said 2,500 years ago that a man should be independent at the age of thirty. Teppei, at the age of “independence”, is starting to set up his own comic and animation company, which is very important to him.

    He was born in 1978, the year when China opened its door to the outside. The year 2008 also celebrates the 30th anniversary of China’s reform and opening-up.

    ”Problems always exist, both for the country and individuals, but we are brave enough to move forward. This year we cry together, we laugh together, and we are all inspired,” Teppei said.



 
Sep
30
    
Posted (admin) in Business News on September-30-2008

     HONG KONG, Sept. 30 (Xinhua) — Hong Kong stocks rose 135.53 points, or 0.76 percent, to close at 18,016.21 on Tuesday.

    Turnover increased to 71.81 billion HK dollars (9.26 billion U.S. dollars) from Monday’s 54.97 billion HK dollars (7.08 billion U.S. dollars)    



 
Sep
30
    
Posted (admin) in Society News on September-30-2008

The sky is covered with dark clouds at Xiasha Seashore Holiday Resort in Changle, southeast China’s Fujian Province Sept. 28, 2008. Local meteorological observatory issued an alarm at about 6 a.m. on Monday, saying that Typhoon Jangmi, the 15th and strongest typhoon of this year, divert after entering Taiwan Straits and will shave coastal areas along Fujian Province. The typhoon was expected to bring heavy rains and high winds in the province.(Xinhua Photo)
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    BEIJING, Sept. 30 (Xinhua) — The National Meteorological Center (NMC) issued an orange warning for typhoon Jangmi on Tuesday, which was expected to bring strong winds and rain in southeastern coastal areas.

    Jangmi, the 15th and strongest typhoon of this year, was about 250 kilometers northeast of Cangnan, in the eastern Zhejiang Province, at 5 a.m., packing winds of up to force 10, or 90 km per hour, in the eye, according to the NMC.

    It is moving northeastward at about 10 km per hour and expected to weaken, having shaved Zhejiang’s coastal area on Monday night.

    Jangmi made landfall in Yilan, Taiwan at 3:40 p.m. Sunday, packing winds of up to 183.6 km per hour in the eye.

    Alerted with the orange alarm, the second highest alert, at 6 a.m. on Tuesday, ships and fishing boats were advised to seek shelter in port, and local authorities were warned to prepare for floods and landslides.

Local residents ride on motorbikes in rain in Ningde, southeast China’s Fujian Province Sept. 29, 2008. Local meteorological observatory issued an alarm at about 6 a.m. on Monday, saying that Typhoon Jangmi, the 15th and strongest typhoon of this year, divert after entering the Taiwan Straits and will shave coastal areas along Fujian Province. The typhoon was expected to bring heavy rains and high winds in the province.(Xinhua Photo)




 
Sep
30
    
Posted (admin) in China & World on September-30-2008

    BEIJING, Sept. 30 (Xinhua) — Chinese Premier Wen Jiabao met here Tuesday with Bruce Alberts, editor-in-chief of the Science Magazine of the United States.

    Wen spoke highly of the important role of the Science Magazine in advancing global scientific and technological development. He expressed his wish to further strengthen cooperation with the magazine in order to make a greater contribution to the global development of science and technology and to human progress.

    Wen said China has put the advance of science, technology and innovation at the core of its national development strategy. He said China focuses on developing an innovative nation so as to realize the goal of modernization.

    Alberts highly values the importance that the Chinese leaders and government attached to science and technology. He said the Science Magazine will as always support development of science and technology in China.

    The two sides exchanged views on a wide range of issues.

 

Premier Wen pledges to provide foreign experts with better environment to work in China

    BEIJING, Sept. 29 (Xinhua) — Chinese Premier Wen Jiabao has vowed to provide foreign experts serving China with better working and living conditions.

    Wen made the remark in meeting with 50 chosen foreign specialists and their families at the Great Hall of People here on Monday, in which he issued the experts Friendship Award of the year on behalf of the Chinese government.  Full story




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