ASEAN to team up to boost textile industry

Special Report:Global Financial Crisis

JAKARTA, May 7 (Xinhua) -- Textile producers in ASEAN countries agreed to set up an alliance to boost up competitiveness, the Jakarta Post reported Thursday quoting a senior official.

Conveying the results of a recent ASEAN economic ministers meeting in Siem Reap Cambodia, Indonesian Trade Minister Mari Elka Pangestu said Wednesday that the commitment was aimed at promoting the textile and garment industry in the region.

One of the conclusions is that we will concentrate on the textile and garment industries. We need to work on to boosting the industries in the region, the report said, quoting Mari.

The ASEAN governments would soon invite the ASEAN Federation of Textile Industries (Aftex) to bring about the plan, she added. Textile and garments export from ASEAN region stood at over 30 billion U.S. dollars last year

Earlier reports said that Indonesia, Thailand and Vietnam would set up a full service alliance by the end of the year. They have been regarded the top three textile manufacturing countries in the region.

Indonesian Textile Association (API) Deputy Chairman Ade Sudrajat said that the alliance was expected to boost up the inter regional textile and garment trade and cut buyers' costs by integrating orders from upstream to downstream products.

In the future, he said, buyers would no longer need to open offices in countries where their orders were processed.

Click for more news in Biz China>>

Jaguar aid talks with British government near collapse

Special Report:Global Financial Crisis

LONDON, May 6 (Xinhua) -- Jaguar Land Rover, a British automobile brand owned by India's Tata Group, will either have to cut its jobs and investment or turn to its parent company for help, as talks between the carmaker and the British government on financial support are nearing a collapse.

The carmaker received what it was told was a final offer from the business department on Friday, which it has not formally rejected, but is understood to feel that the tough conditions demanded in return for guaranteeing a loan are unacceptable, according to a BBC report late Wednesday.

If no financial help is provided, jobs and important investment could be cut, the report said.

The government is understood to want a right to veto management decisions, appoint its own chairman and have a say in any future redundancies at the company which employs 14,500 people.

Jaguar is said to have viewed the proposal as backdoor nationalization -- and is minded to turn the offer down.

The dispute centers on financial support from the European Investment Bank (EIB) and conditions the UK government is imposing in return for guaranteeing the loan.

At the heart of the dispute is the degree of control the UK government would be given in return for putting taxpayers money at risk by guaranteeing the EIB loan, the BBC said.

A spokesperson for the Department for Business, Enterprise and Regulatory Reform (BERR) insisted the government was "prepared to help, although not on any terms."

Thai cabinet approves 2nd phase of economic stimulus packages

Special Report:Global Financial Crisis

BANGKOK, May 6 (Xinhua) -- The Thai weekly cabinet meeting on Wednesday approved the country's second phase of the economic stimulus packages worth of 1.4 trillion baht (39.78 billion U.S. dollars) to shore up the country's sluggish economy, Finance Minister Korn Chatikavanij said.

The budget will cover several investments in transportation, irrigation, education and public health projects from this year to 2012, the minister said.

It is estimated the investments will create jobs for two million people and the country's long-term competitive advantages will also be boosted, Korn said.

The investment projects will kick off after the House of Representatives approves a loan borrowing plan to finance this second phase packages.

Korn said the loan sources will be mainly from the domestic market amid the ample liquidity.

Although the budget allocation might result in the country's higher public debt, the government's financial status will remain strong, said Korn.

It is estimated the country's public debt will rise to 60 percent of the gross domestic product (GDP) in 2013 from the current 40 percent of the GDP, said Korn.

The return of the investments, however, will be worthwhile, are port of the local media Bangkok Post quoted Korn as saying.

Korn estimated the country's public debt would start leveling off in 2014 and should stay at 47 percent of the GDP in 2018.

Click for more news in Biz China>>

Dutch banker: global financial crisis far from over

Special Report:Global Financial Crisis

KUALA LUMPUR, May 6 (Xinhua) -- A top European central banker on Wednesday cautioned against optimism that the global economy will recover soon, saying the situation is far from true.

The market should not read too much into slight improvements in some economic indicators when in fact there were still immense challenges such as access to credit, Nout Wellink, president of the central bank of the Netherlands, said in his keynote address at the Asia Regional Forum on Policy and Regulation of Financial Inclusion.

Challenges in this area (global financial system) are just as relevant as they were last November, maybe they are even more relevant nowadays, he said.

Although the crisis may have left the microfinancing institutions relatively unaffected but they were also experiencing increased pressure, he said.

Click for more news in Biz China>>

ADB President: A/H1N1 flu could derail Asias economic recovery

Special Report:World tackles A/H1N1 flu


Special Report:Global Financial Crisis

The President of the Asian Development Bank says the A/H1N1 flu has the potential to set back Asia's fragile economic recovery if it takes hold in the region.

ThePresidentoftheAsianDevelopmentBanksaystheA/H1N1
fluhasthepotentialtosetbackAsia'sfragileeconomic
recoveryifittakesholdintheregion.

Haruhiko Kuroda says an influenza pandemic would hit the region's tourism and aviation industries first. But he remains confident that Asian governments are well prepared.

Click for more news in Biz China

China details stance on continental shelf

The Chinese Permanent Mission to the UN has presented a note to the UN Secretary-General Ban Ki-moon. In the note, China urges the Commission on the Limits of the Continental Shelf not to review the joint submission of information by Malaysia and Vietnam. The two countries presented on Wednesday a joint submission to the UN on the outer limits of the continental shelf beyond 200 nautical miles.





TheChinesePermanentMissiontotheUNhaspresenteda
notetotheUNSecretary-GeneralBanKi-moon.Inthenote,
ChinaurgestheCommissionontheLimitsoftheContinental
Shelfnottoreviewthejointsubmissionofinformationby
MalaysiaandVietnam.

The Chinese government said in its note presented a day later that the submission by Malaysia and Vietnam infringes upon China's sovereignty and jurisdiction in the South China Sea. And China urges the UN commission not to consider the case in accordance with the UN Convention on the Law of the Sea and relevant UN rules.

Reconstruction brief at press conference

Special Report:One Year after 5.12 Quake

The Sichuan provincial government has briefed reporters in Chengdu on the current reconstruction work going on a year after the May 12th earthquake.





TheSichuanprovincialgovernmenthasbriefedreporters
inChengduonthecurrentreconstructionworkgoingona
yearaftertheMay12thearthquake.

A government spokesman said the rebuilding of rural houses is expected to be finished by the end of September, while the rebuilding of urban homes will be completed by next May.

He noted the rebuilding of 99 percent of basic public service facilities, including clinics and hospitals across the province, will be completed in two years. He said the government has already helped nearly 1.3 million quake-affected people find new jobs.

In addition, he said the government has pledged to have 95 percent of students back in school buildings, rather than temporary structures, by the end of this year. The spokesman said 5,335 students were dead or missing from last year's earthquake.

Premier Wen calls for closer cross-Straits co-op

BEIJING, May 8 (Xinhua) -- Premier Wen Jiabao on Friday visited Xiamen, a southeastern port city which faces Taiwan across the sea, urging cooperation for a win-win result for the mainland and Taiwan.

ChinesePremierWenJiabao(C)visitsXiamenOverseas
ChineseElectronicCo.,Ltd.inXiamen,acoastalcity
insoutheastChina'sFujianProvince,May8,2009.
PremierWenJiabaomadeaninspectiontourinXiamen
onMay8.(Xinhua/LiXueren)

With more than 3,300 Taiwan-invested companies, Xiamen, in Fujian Province, is a frontier platform for cross-Straits exchanges.

While touring Chenhong Technology Company, Wen was pleased to learn the Taiwan-invested high-tech company registered a strong growth last year despite the global financial crisis.

He said the current peaceful development of cross-Strait ties had benefited both sides.

"Recently, we have initiated new policies and measures to support the development of an economic zone on the western side of the Taiwan Strait. Taiwan-invested companies will have more development opportunities," Wen said.

Premier Wen urges strengthened cross-Straits cooperation

Premier Wen Jiabao is urging cooperation to create mutual benefits for the mainland and Taiwan. The Premier on Friday visited Xiamen, a port city directly across the strait from Taiwan.

ChinesePremierWenJiabao(C)visitsXiamenOverseas
ChineseElectronicCo.,Ltd.inXiamen,acoastalcity
insoutheastChina'sFujianProvince,May8,2009.
PremierWenJiabaomadeaninspectiontourinXiamen
onMay8.(Xinhua/LiXueren)

His trip came after the State Council recently passed a plan to accelerate development of the economic zone on the west of the Taiwan Straits.

With more than 33-hundred Taiwan-invested companies, Xiamen, is a frontier platform for cross-strait exchanges.

While touring Chenghong Technology Company, Wen Jiabao was pleased to learn the Taiwan-invested high-tech company registered a strong growth last year despite the global financial crisis.

He said the current peaceful development of cross-strait ties are benefiting both sides.

Wen Jiabao, Chinese Premier, said, "What I need to emphasize is that your company has seized an big opportunity which is the peaceful development of cross-strait ties. Recently, we have initiated new policies and measures to support the development of an economic zone on the western side of the Taiwan Strait. Taiwan-invested companies will have more development opportunities."

6th Hubei Wuhan-Taiwan Week held in Wuhan

The sixth "Hubei Wuhan-Taiwan Week" has been held in Wuhan, the capital of Hubei Province.

At the opening ceremony, Wang Yi, the director of State Council's Taiwan Affairs Office said 2009 will witness the all-around development of cross-strait.

WangYisaidaslongasthetwosidesjoinhands
togethertosupporteachother,theycannotonly
rideoutthecurrentfinancialcrisis,butcould
alsograspnewopportunities. (CCTV.com)

Wang Yi said as long as the two sides join hands together to support each other, they can not only ride out the current financial crisis, but could also grasp new opportunities.

Taiwan has proposed a bilateral economic cooperation framework agreement. Wang Yi says this is in line with the two sides' economic features, and will surely bring more profit for the people.

Nearly two thousand participants from economic and cultural areas attended the ongoing Hubei Wuhan-Taiwan Week. The event is to boost trade ties between the central province and Taiwan.

By the end of last year, 2020 Taiwan companies made a total investment of 5 billion US dollars in Hubei Province. Among them were big names such as Foxconn and leading chip maker, SMIC.

Mainland, Taiwan agree to enhance ties

Special Report:3rd round of cross-strait talk

Click for more news in World Wide Watch

The chief negotiators are already looking at new possibilities aimed at enhancing ties between the mainland and Taiwan.

Themainland-basedAssociationforRelationsAcrossthe
TaiwanStraits(ARATS)PresidentChenYunlin(R,Front)and
theTaiwan-basedStraitsExchangeFoundation(SEF)Chairman
ChiangPin-kung(L,Front)signagreementsatasigning
ceremony"inNanjing,eastChina'sJiangsuProvince,on
April26,2009.

Another milestone in relations across the Taiwan Straits. Whenever Chen Yunlin meets Chiang Pin-kung, people on the mainland and Taiwan expect new impetus for economic development and also for their personal benefit. Amid the global financial crisis, the chief mainland negotiator called on both sides to join hands to overcome the current difficulties and create a win-win situation.

The mainland announced that it would promote companies to invest in Taiwan as soon as the island authorities allow such investment. And the mainland will also increase its purchase of Taiwan products, as well as encourage more Taiwan investment in the mainland.

The mainland also acknowledged that both sides need to achieve a more institutionalized mechanism or framework for their economic cooperation. Representatives agree that their new agreements and consensus will improve the environment for investment on both sides. They add that the developments would also enhance more contacts between individuals and protect their rights, aswell as laying a solid foundation to improve the peaceful development of ties.

China honors outstanding military staff

Special Report:One Year after 5.12 Quake

BEIJING, May 8 (Xinhua) -- China on Friday honored dozens of military organizations and individuals for their contribution to the nation's quake relief or scientific research work.

President and Chairman of the Central Military Commission Hu Jintao signed a decree awarding merits to 15 organizations and 28 individuals with the People's Liberation Army (PLA).

Three classes of merits were meted out in accordance with the receivers' contribution.

Ten units and individuals were cited for their relief efforts after the 8.0-magnitude earthquake struck southwestern China on May 12 last year, two for "remarkable troop building," five for "achievements in major scientific experiments," two for artist creations and the rest for achievements in scientific researches, according to the decree.

In a separate decree signed by Hu, four other soldiers and officers were awarded honorable titles as being "model examples" for their peers.

One of them, Meng Xiangbin, was given the honor posthumously as he was drowned while trying to save a suicidal woman from a river in eastern Zhejiang Province in 2007.

China to receive A-H1N1 samples

Special Report:World tackles A/H1N1 flu

Three strains of the A-H1N1 influenza virus are being donated by the United States for medical analysis in China.

The strains come from a Mexican patient and two US patients. They will arrive in two or three days. Another virus strain is being sent by Hong Kong to the Chinese mainland.

ThreestrainsoftheA-H1N1influenzavirusarebeing
donatedbytheUnitedStatesformedicalanalysisin
China.(AFP/File/LeonNeal)

Chinese medical experts will analyze the strains to find out the cause of the A-H1N1 flu, and the virus's pathogenic ability.

The research will greatly improve the accuracy and speed of a test to diagnose suspected cases of the disease.

Dong Xiaoping, Epidemic Scientist, Chinese Center for Diease Control and Prevention, said, "Based on our current research and production technology, we are able to produce our own A-H1N1 flu vaccine in three to four months after we receive the flu strains."

Chinese ministry rules out sudden fuel price hike

BEIJING, May 9 -- The government ruled out any immediate increase in fuel prices on Friday despite increasing market speculation about a possible hike, top pricing officials said.

Officials at the National Development and Reform Commission (NDRC) said the recent oil price rise on the global market indicated that the domestic fuel prices should be raised.

But Xu Kunlin, deputy director of NDRC's pricing department, told a news briefing on Friday that the authorities would only increase prices after further careful consideration.

According to the fuel pricing mechanism announced on Friday, China will adjust its fuel prices when global crude oil costs fluctuate more than 4 percent over 22 straight working days.

The global crude oil price has been increasing since March, rising from 35 U.S. dollars a barrel to around 58 U.S. dollars on Thursday.

This was the first time the government made public its fuel pricing mechanism since it announced last December that it would link domestic gasoline and diesel prices to the international market.

Xu said many oil traders had engaged in speculative dealing in recent days amid rumors of a price hike. "To prevent speculative trading, we will not adjust oil prices exactly in line with the benchmarks set in the regulation."

Sothebys unveils rare blue diamond

Sotheby's has unveiled a 7.03 carat vivid blue diamond, the rarest to enter the international market this year.

The blue diamond will come up for sale as the centerpiece of a jewellery auction in Geneva on May 12.

ASotheby'semployeedisplaysararevivid
bluediamondringweighing7.03carats,
duringapreviewatSotheby'sinGeneva,
Switzerland,Wednesday,May6,2009.
(APPhoto/Keystone,MartialTrezzini)

It is one of only a handful in existence in the world and one of the rarest ever auctioned by Sotheby's.

Its sellers estimate it is worth between 5.8 to 8.5-million US Dollars. If it sells for its top value it would break the world record price per carat for any gemstone at auction.

Beichuan survivors remarry

Special Report:One Year after 5.12 Quake

The Wenchuan earthquake has left many people losing their other half. Finding a new companion is a way to help these people move on.

Yang Changbin and Zhou Xiaohong are tying the knot. And there's something even more symbolic. Tree planting is a local wedding custom meaning life and growth. The idea is particularly appealing to these twenty couples.

Treeplantingisalocalweddingcustommeaninglife
andgrowth.Theideaisparticularlyappealingto
thesetwentycouples. (CCTV.com)

Few weddings could attract so much media attention. A year ago, the earthquake brought devastation and heartbreak to these people. Today, that has been replaced with joy.

Yang and Zhou lost their spouses and children in the earthquake. They were introduced by relatives and decided to start over again.

Yang Changbin and Zhou Xiaohong, Beichuan Newlyweds, said, After all, we've survived the disaster. We want a complete family. You probably have a stronger wish for a complete family than others. What's your hope? We hope to build a happy family together. Both of us had happy families before the earthquake, so we want to have that again. Are you planning to have a child? Absolutely. Children make it a complete family.

Many couples say the marriage restores their confidence in life. And because they endured the same pain, they understand each other very well.

Zhu Yuncui, Beichuan Newlyweds, said, "So many people care about us and helped us start a new life. How could we not move on? Our children are happy about the marriage, so we don't have other concerns."

Doctors needed in quake region

Special Report:One Year after 5.12 Quake

Many hospitals in Dujiangyan city were destroyed by last year's massive earthquake.

The city's People's Hospital, the only comprehensive one still standing is overcrowded.

Everydaysincetheearthquakehasbeenexhausting
forDoctorLiuHui. (CCTV.com)

Every day since the earthquake has been exhausting for Doctor Liu Hui.

As the best ear-nose-throat doctor in Dujiangyan city, she sees 70 patients a day, sometimes more than a hundred. Her office is always packed with patients from all over the area.

She doesn't have time for lunch, or even a drink of water. We came here early in the morning, but she was busy. And when we managed a quick interview at dusk, there were still 10 patients waiting.

Dr. Liu Hui, Dujiangyan People's Hospital, said, "I feel that people care more about their health after the earthquake experience. They feel the vulnerability of human in front of the force of the nature. Now, they come to me with any ailments. In the past, they usually came when the illness got really serious."

No major building of this hospital collapsed in the earthquake. So it's the only one in the city with all medical departments still operating. That makes it patients' first choice.

The People's Hospital has treated 120 thousand patients after the quake. But it wasn't prepared for the sudden pressure. There are only 7 out-patient doctors, and all of them have to see patients from various departments.