Archive for October, 2007

World’s biggest aluminum producer eyes Chinese market

    NANNING, Oct. 31 (Xinhua) — The world’s biggest aluminum producer, Rio Tinto Alcan sees China’s growing aluminum market as an opportunity to expand business.

    ”Rio Tinto has to some extent ignored the Chinese market before the acquisition of Alcan. But the strong development of aluminum industry has attracted us to look for more business opportunities here,” said Jean Pierre Paillot, Rio Tinto Alcan’s President of the Chinese market.

    Paillot said the Rio Tinto Alcan has established a regional headquarter for China in Shanghai a few months ago, and he personally has toured around some aluminum-rich provinces in the country looking for investment deals.

    ”Rio Tinto may pick Guangxi as the first choice for cooperation, because the region is rich in aluminum, hydro-power, land, and labor resources,” Paillot said when meeting with Guo Shengkun, deputy chairman of Guangxi Zhuang Autonomous Region at the sidelines of the frameBorder=0 width=604 height=28>

Hu: China will continue to play constructive role in Middle East

[China]Ambassador: China’s growth brings opportunities

[World]Clinton publicly opposes Attorney General nominee

[Biz]Hong Kong stocks end at another record high

[Health]Early autism detection strongly recommended

[Popular]Katharine Hepburn tells her stories from the stage

UNDP to fund China-Vietnam cross-border economic cooperation zones

    NANNING, Oct. 30 (Xinhua) – The United Nations Development Program (UNDP) will provide fund to promote the construction of two China-Vietnam cross-border economic cooperation zones, a Chinese official said here frameBorder=0 width=604 height=28>

IAEA sees important step in solving Iran nuke issue

[China] Chang’e-1 lunar probe completes third orbital transfer

[World]Most California fires contained, residents returning home 

[Biz]Crude oil closes at all-time high of $93.53

[Health]China raises threshold for drug GMP certification

[Popular]Maxim says Sara Parker world’s “unsexiest” woman

Chinese investment in ASEAN countries increasing rapidly

    NANNING, Oct. 30 (Xinhua) — More and more Chinese businessmen are launching and expanding their businesses in Southeast Asian countries, counterbalancing previous capital flows in an overwhelmingly single opposite direction, officials and businessmen said at an frameBorder=0 width=604 height=28>

IAEA sees important step in solving Iran nuke issue

[China] Chang’e-1 lunar probe completes third orbital transfer

[World]Most California fires contained, residents returning home 

[Biz]Crude oil closes at all-time high of $93.53

[Health]China raises threshold for drug GMP certification

[Popular]Maxim says Sara Parker world’s “unsexiest” woman

Transnational think-tank for Pan Beibu Gulf zone to form soon

    NANNING, Oct. 30 (Xinhua) — China and the Association of Southeast Asian Nations (ASEAN) is expected to form a transnational think-tank soon to mull strategies for economic development in the Pan Beibu Gulf zone, a Chinese official said here Tuesday.

    ”The Chinese government has had talks with all the ASEAN countries in the Pan Beibu Gulf Rim, inviting them to join this expert panel, which is expected to be set up at the end of this year,” said Liu Qibao, Party chief of the Guangxi Zhuang Autonomous Region, when meeting with Prime Minister of Laos Bouasone Bouphavamh.

    At the first Forum frameBorder=0 width=604 height=28>

IAEA sees important step in solving Iran nuke issue

[China] Chang’e-1 lunar probe completes third orbital transfer

[World]Most California fires contained, residents returning home 

[Biz]Crude oil closes at all-time high of $93.53

[Health]China raises threshold for drug GMP certification

[Popular]Maxim says Sara Parker world’s “unsexiest” woman

ASEAN expect more power development, cooperation program with China

    NANNING, Oct. 29 (Xinhua) — Members of Association of Southeast Asian Nations (ASEAN) expressed here Monday the hope that Chinese power companies could expand cooperation with them in the field of electric power generation.

    ”Energy Ministers from the ASEAN agreed to establish a transnational power grid. We welcome Chinese companies to participate in bilateral and multilateral power cooperation projects,” Nicolas Tandi Dammen, Deputy Secretary General of the ASEAN Secretariat, said at a forum frameBorder=0 width=604 height=28>

Exit polls: first  Argentine lady wins

[China]Minister nomination, law bills endorsed

[World]Iraq continues to witness surge of violent attacks

[Science]Discovery: astronauts wrap up 2nd spacewalk

[Biz]PetroChina attracts record subscriptions

[Popular]Golden Rooster Film Gala concludes

China completes tunnel for new west-to-east gas pipeline

    YICHANG, Oct. 29 (Xinhua) — Workers frameBorder=0 width=604 height=28>

Exit polls: first  Argentine lady wins

    [China]Minister nomination, law bills endorsed

    [World]Iraq continues to witness surge of violent attacks

    [Science]Discovery: astronauts wrap up 2nd spacewalk

[Biz]PetroChina attracts record subscriptions

[Popular]Golden Rooster Film Gala concludes

Int’l contracts with total investment of $3.25 bln inked at China-ASEAN Expo

Chinese Vice Premier Zeng Peiyan (front L) and Bruneian Crown Prince Al-Muhtadee Billah (front R) inaugurates the Brunei exhibiting area in the Nanning International Exhibition Center prior to the opening of the 4th China-ASEAN Expo in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region, Oct. 28, 2008. The 4-day expo started here frameBorder=0 width=604 height=28>

Exit polls: Argentine first lady wins

[China]Minister nomination, law bills endorsed

[World]Iraq continues to witness surge of violent attacks

[Science]Discovery: astronauts wrap up 2nd spacewalk

[Biz]PetroChina attracts record subscriptions

[Popular]Golden Rooster Film Gala concludes

Shanghai GDP to hit record US$160b this year

    BEIJING, Oct. 29 — Shanghai’s gross domestic product is expected to reach a record 1.2 trillion yuan (US$160 billion) this year, keeping a double-digit growth for 16 straight years, said Mayor Han Zheng yesterday during a forum.

    In the first nine months this year, Shanghai’s economy swelled 13.4 percent, Han said at the 19th International Business Leaders’ Advisory Council for the Mayor of Shanghai.

    The city’s fixed-assets investment grew 7.4 percent to 311.89 billion yuan through September.

    Consumer spending expanded 14.3 percent to 285.32 billion yuan while combined value of imports and exports soared 20.9 percent in the same period.

    Han expected the city’s value of trade this year will surpass US$500 billion for the first time.

    ”Shanghai’s economy has kept a stable growth. We are confident that Shanghai is frameBorder=0 width=604 height=28>

Exit polls: first  Argentine lady wins

[China]Minister nomination, law bills endorsed

[World]Iraq continues to witness surge of violent attacks

[Science]Discovery: astronauts wrap up 2nd spacewalk

[Biz]PetroChina attracts record subscriptions

[Popular]Golden Rooster Film Gala concludes

1st bank-invested trust company inaugurated

    WUHAN, Oct. 28 (Xinhua) — China’s first bank-invested trust company is officially set up in Wuhan, capital of central China’s Hubei Province, on Sunday.

    The new trust company is held by the Bank of Communications (BOCOM), China’s fifth largest lender, and Hubei provincial finance department, which control 85 percent and 15 percent of the total shares respectively.

    The BOCOM invested 1.2 billion yuan (about 160 million U.S. dollars) to buy the shares of the Hubei international trust and investment company, the first commercial bank investment in a trust company approved by the China Banking Regulatory Commission.

    Jin Dajian, chairman of the new company named “jiaoyin-guoxin”, or BOCOM-International Trust, said the company would focus on “professional wealth management”.

    Jin called the establishment of the new trust company “a breakthrough for China’s trust industry”, given that the country’s law on commercial banks, effective since 1995, did not allow commercial banks to make trust investment.

    The regulation was not lifted until the end of last year, when the China Banking Regulatory Commission encouraged financial institutions, including commercial banks, to acquire trust companies.

    The BOCOM, a large state-owned commercial bank, was established in 1908, and the Hubei international trust investment company was founded as a non-banking financial institution under Hubei provincial government in 1981.

China & Philippines sign minutes of meeting on import and export food safety

    NANNING, Oct. 28 (Xinhua) — China and the Philippines on Sunday signed the minutes of meeting on import and export food safety in the southern China city of Nanning.

    Under the document, signed between China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) and the Philippine Department of Health during the first China-ASEAN Ministerial Meeting on Quality Supervision, Inspection and Quarantine which opened here Sunday, both the Chinese and Philippine sides agreed to establish a food safety cooperation mechanism.

    Through the operation of this mechanism, both sides will inform and consult each other about the quality and safety problems found in bilateral food trade in a timely and actively manner to solve the problems properly, establish for regulators and technical experts from both sides a channel for their communication, and exchange and reciprocal visits.

    Both sides will also exchange timely the laws, regulations, standards, inspection procedures and methods of both sides concerning import food inspection and supervision, and their latest changes, and notify each other about information on imported and exported food to crack down on the illegal activities of food trade.

    The Chinese side hoped that the Philippines side would provide its comments to the submitted draft memorandum of understanding between the AQSIQ of China and the Department of Health of the Philippines on the establishment of food safety cooperation mechanism. The Philippine side agreed to study it carefully and to offer its feedback timely, so that consensus could be reached as early as possible.

    Before the establishment of the cooperative mechanism, both sides agreed to assign an official from each side to be in charge of notifying related information on import and export food safety, while helping settle issues of food safety.

    According to the document, the two sides reviewed the cooperation on food safety, especially the cooperation on dealing with the pupils’ uncomfortable issue in Cebu, the Philippines, as well as the latest progress. Both sides agreed to continue the cooperation to treat the issue justifiably and properly.

    ”The Chinese side informed the measures taken by the Chinese governments to ensure the food safety. The Philippines side appreciated for the introduction,” the document says.

    The minutes was signed after “a friendly discussion on issues of import and export food” between AQSIQ Deputy Director Wei Chuanzhong and Alexander Padilla, under secretary of Department of Health, and Director Leticia-Barbara Gutierrez of the Bureau of Food and Drugs of the Philippines in Nanning on Saturday.

    During the meeting, the two sides exchanged views on formaldehyde residue in food. The Chinese side hoped that the Philippine side would treat the issue scientifically, while the Philippine side said that they were carrying their evaluation and might adjust related policies to this effect.

    In the meantime, AQSIQ and National Agency of Drug and Food Control of Indonesia also signed minutes of meeting. The document says that the two sides reviewed the cooperation on food safety, and pointed out that there were some problems such as lacking of efficient communication and adequate technical cooperation. The two sides exchanged their views on formaldehyde residue in food, and agreed to conduct technical cooperative research on the issue.

    At the request of Indonesia side, the Chinese side briefed Chinese management and practice system on export of food, according to the document.