Economy/Resources - 253. page

On October 11, Vice Prime Minister Wang Qishan held the fifth of the energy talks with Vice Prime Minister Sechin of Russia. The talk was set up ahead of the upcoming fourteenth meeting between the two Prime Ministers of both countries. According to Wang, China and Russia have entered a new era of long term strategic energy cooperation with regard to oil and gas, nuclear and electric power. He hopes to increase cooperation further. 

Source: Xinhua, October 11, 2009
http://news.xinhuanet.com/politics/2009-10/11/content_12212267.htm

Li Wuwei, Vice Chairman of the Chinese People’s Political Consultative Conference, stated that the effort in cultural creative industry development will become an effective way to assist China’s economic transition in the midst of the current international economic crisis. Li was speaking on September 9 at the International Cultural Industry Forum held in Xiamen City, Fujian Province, during the 13th China International Fair for Trade and Investment.

Li also introduced the following four initiatives: include the creative product industry in the national development plan; form a relaxed and tolerant cultural atmosphere to allow NGOs in the creative industry to grow; establish a nationwide cultural creative policy; use a few “testing sites” in Beijing, Shanghai, and Shengzhen to showcase the end results during the Shanghai Expo in 2010.

Source: Xinhua, September 9, 2009
http://news.xinhuanet.com/politics/2009-09/09/content_12023506.htm

On August 12, 2009, Liu Binjie, Secretary of the Party Committee of the General Administration of Press and Publications, signed The Memorandum of Supporting the Development Strategy of the Press and Publication Industry with Bank of China Chairman Xiao Gang. Under the “Go Out” strategy, the purpose of the memo was to enlarge the coverage of the Chinese news and publication industry in the international community and to enhance China’s influence. This is one of the major industries that the Bank of China has planned to focus on. Li Lihui, Governor of Bank of China, suggested that, as a large stated-owned bank, the Bank of China has a worldwide network and can provide strong support to the “Go Out” strategy.

Source: Xinhua Net, August 12, 2009.
http://news.xinhuanet.com/fortune//2009-08/12/content_11871283.htm

Caijing.com published selections from a video about remarks by Fu Ziying, the Deputy Minister of the Ministry of Commerce. On August 12, said Minister remarked that China’s economy has reached bottom, but exports were still trending downhill. Fu acknowledged that China’s exports reversed the fast growth and have not halted their 9-month downward trend. There is no immediate fix for this problem and a turn around is difficult to achieve. The Ministry of Commerce and other government agencies will cooperate to stabilize the downslide and hang on to the current export markets and market shares, while trying to stabilize foreign investments into China. At present, the intention is to speed up the implementation of the “Going Out” strategy (for Chinese companies to invest overseas).

                                                                                                                                              Source: Caijing.com, August 12, 2009
http://multimedia.caijing.com.cn/2009-08-12/110223330.html

Companies in Guangdong dumped twelve billion tons of untreated wastewater in 2008. According to the Nanfang Metropolitan Daily, 9.1 billion tons, or 75.8% of the total wastewater spilled into rivers. The above information was based on the recently released “2008 Guangdong Province Water Resources Public Report” published by the Bureau of Water Resources of Guangdong Province. Guangzhou City was ranked first regarding wastewater discharged into the surrounding areas and rivers. The four worst polluters in Guangdong Province, besides Guangdong were companies in Dongguan, Shenzhen, and Foshan.

Source: Nanfang Metropolitan Daily, August 12, 2009
http://epaper.nddaily.com/A/html/2009-08/12/content_868183.htm

Xinhua reported that the Deputy of the Development and Reform Commission, Ren Pengseng, said at the China Price Forum that China should fight for more say on the pricing of bulk commodities on the global market.

Ren claimed that the Chinese economy started recovering this year, but the recovery is not reliable and the pressure of structural adjustments is mounting up. Liquidity is ample and the level of prices tends to increase. In order to improve the price control and adjustment system, it is important to enhance monitoring and reserving mechanisms and price adjustment funds.

Source: Xinhua, July 30, 2009.
http://news.xinhuanet.com/politics/2009-07/30/content_11800355.htm

The Central News Agency reported that China palms corruption chaos off on multi-national corporations. In fact, Western companies had been forced to submit to the Chinese system of corruption. Peter Navarro, a professor at the School of Business at UC Irvine, said, “In China, because of corruption, multi-national corporations are in a dilemma. Corruption in China has become a part of people’s lives.” Gordon Chang, author of The Coming Collapse of China, believes that Western companies’ submission is rooted in the Chinese Communist Party. He said, “I think in China, large-scale transactions have indeed been full of corruption and the small-scale transactions have been in the same situation. Unfortunately, the Western companies have had to do that also. The Chinese Communist Party (CCP) originally designed the system and hasn’t taken measures to deal with corruption."

Source: Central News Agency, July 26, 2009
http://www.cna.com.tw/SearchNews/doDetail.aspx?id=200907260169

Hu Jintao delivered a speech at the 11th Meeting of the Chinese Diplomatic Envoys. He emphasized the tasks of effectively coping with the international financial crisis, and ensuring economic growth, people’s livelihoods and social stability.

Wen Jiabao emphasized in his speech that China must combine expanding domestic needs with stabilizing international needs, and that China must increase its international market share. He stated that the policy of taking full advantage of international capital is still essential. Integrating the use of foreign exchange reserve and internationalization of Chinese companies, integrating the use of foreign investment and Chinese exports, integrating the Chinese currency exchange rate and the market demand/supply model are key tasks ahead.

Source: China News, July 20, 2009.
http://www.chinanews.com.cn/gn/news/2009/07-20/1783217.shtml