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BEIJING, Dec. 9 (Xinhua) -- The Chinese government reiterated Wednesday that to spur "sustainable and fast consumer spending" will be a priority next year, as the world's third-largest economy seeks to break from dependence on export and government pump-priming to drive post-crisis growth.     The government will continue to raise the earnings of the middle and low income groups to boost consumer spending, said a senior official with the nation's top economic planning body.     The government will step up research on optimization the income distribution mechanism to improve residents' purchasing power, Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), made the remarks at a national meeting charting the ministry's work in 2010.     The rare official stance on improving income distribution echoed the unanimous call from experts and the general public to bridge the yawning wealth gap between the rich and poor, which underlined the government's resolution to address the simmering social conflicts and the urgency to rebalance economic growth.     Zhang said the government will exert more efforts to sort out problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability.     In concrete, the government will raise the pensions for enterprise retirees and improve treatment for those who enjoy special care. Local education, cultural and health-care facilities will also receive greater subsidy for expansion.     To revive the economic growth which lapsed to a decade low amid the global financial crisis, Chinese government unveiled a 4-trillion-yuan stimulus package, which was led by government investment, to counter falling exports, the driving force of the Chinese economy before the crisis took a toll.     As a result, as the GDP growth accelerated to 8.9 percent in the third quarter, investment contributed 7.3 percentage points while consumption devoted 4 percentage points.     "As the Chinese authorities have recognized that the rapid pace of recovery has exacerbated some of the economy structural imbalances, the authorities will focus on rebalancing growth, primarily by supporting consumption and private investment, with many consumer incentives to be carried out in 2010," said Jing Ulrich, managing director and chairman of China Equities and Commodities of J.P. Morgan.     Also on Wednesday, the State Council, or cabinet, decided to renew the preferential policies introduced early this year to boost car and home appliance sales.     "While investment growth should be managed at a reasonable pace, consumer spending should maintain sustainable and relatively fast expansion," Zhang said.     As investment binge and runaway bank lending prompted fears for asset bubble, Zhang said the government will step up efforts to curb speculative property transaction, and provide more affordable housing to middle and low income families.

SHARM EL-SHEIKH, Egypt, Nov. 9 (Xinhua) -- The 4th Ministerial Conference of the China-Africa Cooperation Forum (FOCAC) wrapped up in the Egyptian Red Sea resort of Sharm el-Sheikh on Monday, with the adoption of the Declaration of Sharm el-Sheikh and Sharm el-Sheikh Action Plan, defining new programs of cooperation between the two sides in the next three years.     The Declaration of Sharm el-Sheikh, the political document of the conference, sets forth the guiding principles of China-Africa cooperation, reflects the views and consensus of both sides on major international and regional issues and China-Africa relations, and expresses the hope to strengthen China-Africa cooperation under the new circumstances. Foreign ministers from China and African countries present at the end of the Fourth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on Nov. 9, 2009. The Fourth Ministerial Conference of the FOCAC closed on MondayThe adopted Sharm el-Sheikh Action Plan (2010-2012) puts forward the guidelines, main objectives and specific measures for China-Africa cooperation in priority areas in the next three years.     The two documents have been adopted after many rounds of consultations between the two sides, which reflected the collective wisdom and common vision in developing China-Africa relations, said Chinese Foreign Minister Yang Jiechi in the closing ceremony of the 4th Ministerial Conference. Chinese Foreign Minister Yang Jiechi (L) and Egyptian Minister of Foreign Affairs Ahmed Abul Gheit present at the end of the Fourth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on Nov. 9, 2009.

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BEIJING, Nov. 24 -- Taxi passengers in Beijing will have an extra yuan added to their fares. The move is meant to offset the city's rising fuel prices, as they hit their highest levels in years.    The new taxi fare policy will begin this Wednesday on November 25, 2009. One yuan will be added to any trip exceeding 3 kilometers.     Beijing will continue to work on linking taxi fares with gasoline prices.     Meanwhile, most of local residents say they accept the surcharge.     A local resident of Beijing said, "A one yuan surcharge won't affect me too much. I'm OK with it." The new Beijing taxi fare policy will begin on Nov. 25, 2009. One yuan will be added to any trip exceeding 3 kilometers    Another said, "Some Chinese provinces have already taken similar measures, such as Yunnan and Shandong. I think it's fine. We should do it."     Taxi drivers have explained that the extra yuan will provide compensation for the increase in pump prices.     A taxi driver in Beijing said, "If I serve 40 passengers a day, it will create an additional 40 yuan. That can help me cope with the recent fuel price rises. I don't think passengers will give up taking taxi just because of one yuan. But if the per kilometer fare rises, many will think differently."     According to the new policy, the government, taxi companies, and passengers will share the cost of gasoline price fluctuations.     Beijing last saw an increase in taxi fares three years ago.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao is to meet his U.S. counterpart President Barack Obama Tuesday morning at the Great Hall of the People in Beijing.     The summit meeting is scheduled to be held at 10:40 a.m. after a grand welcoming ceremony. The two leaders will meet the press after the talks.     Wu Bangguo, chairman of the National People's Congress Standing Committee, will meet President Obama Tuesday afternoon.     President Obama will also visit the Palace Museum, or the Forbidden City, and attend a state banquet in his honor hosted by President Hu.

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SINGAPORE, Nov. 12 (Xinhua) -- Chinese President Hu Jintao said here Thursday that China and Singapore should strive to create new opportunities for bilateral cooperation in an effort to achieve economic recovery at an early date.     Hu made the remarks during a speech at a reception held by Singapore business circles, which was also attended by Singapore's Deputy Prime Minister Wong Kan Seng. Chinese President Hu Jintao delivers a speech during a reception held by Singapore business circles in Singapore, Nov. 12, 2009.The Chinese president expressed full confidence in the prospect of China-Singapore trade and economic cooperation, calling for the two nations to work together to create an even brighter future for their mutually beneficial cooperation.     China and Singapore have maintained close high-level contacts and achieved fruitful cooperation in various fields since they established diplomatic ties in 1990, said Hu, who is on a state visit to Singapore.     Singapore has now become an important cooperative partner of China in the ASEAN region and bilateral trade and economic cooperation between the two nations have been growing steadily, the Chinese president said.     "China-Singapore cooperation has always been closely connected with the development strategy of both countries and progressed with times," Hu said.     The "flagship projects" in bilateral cooperation, including the Suzhou Industrial Park and Tianjin Eco-City projects, have seen remarkable achievements and smooth progress, Hu said.     He added that the implementation of a free trade arrangement between China and Singapore has helped raise the level of their economic cooperation.     The friendly and mutually beneficial cooperation between China and Singapore has not only brought about substantial benefits to their people, but also helped promote regional peace, stability and prosperity, he stressed.     China will staunchly adhere to the path of peaceful development and the opening-up strategy for mutual benefits and win-win situations. It will continue to develop friendly cooperation with countries around the world on the basis of the five principles of peaceful coexistence, the president said.     The country will also continue to work with nations globally to strive to build a harmonious world with lasting peace and common prosperity, he said.     The business circles of Singapore voiced their belief that a stable and prosperous China would bring benefits to the region and the world as a whole.     They also expressed the willingness to continue to play an active role in advancing mutually beneficial cooperation and bilateral ties between Singapore and China.     Trade between China and Singapore reached 52.4 billion U.S. dollars in 2008, up 10.5 percent year-on-year.     Up until now, Singapore has made investments worth more than 40 billion U.S. dollar in China. It has become one of the top overseas investment destinations for Chinese companies.

BEIJING, Dec. 21 (Xinhua) -- China proposed on Monday to advance its economic and trade relations with France to a new level by taking the opportunities that may emerge when tackling global challenges including the financial crisis and climate change.     Premier Wen Jiabao made the remarks when meeting with visiting French Prime Minister Francois Fillon, who witnessed an unveiling ceremony of the biggest new energy joint venture between the two countries Monday morning. Chinese Premier Wen Jiabao (L) holds a welcoming ceremony for French Prime Minister Francois Fillon (R) at the Great Hall of the People in Beijing, capital of China, Dec. 21, 2009. "We should take the opportunities of tackling the international financial crisis, climate change, energy security and other global challenges, and change our ways of thinking and deepen cooperation to advance bilateral economic and trade relations to a new level," Wen told Fillon     "We should follow the opening and win-win principles, oppose trade protectionism, and take effective measures to help bilateral trade resume growth at an early date," Wen proposed.     Statistics showed that the China-France trade volume has been falling since the third quarter of 2008, with China's exports to France declining significantly. Chinese Premier Wen Jiabao (R) shakes hands with French Prime Minister Francois Fillon during a welcoming ceremony Wen holds for Fillon at the Great Hall of the People in Beijing, capital of China, Dec. 21, 2009According to China's customs data for the first three quarters of this year, the two countries' trade volume was about 24.6 billion U.S. dollars, down 15.6 percent from the same period last year. It was the first year-on-year decline since 1996.

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BEIJING, Nov. 4 -- China's increasingly voracious investment in overseas markets is helping the global economy - and especially the economies of developing countries - recover from the financial crisis, according to several speakers at the First China Overseas Investment Fair Tuesday.     Chinese officials urged foreign countries to make it easier for that investment to continue to flow by creating a "convenient and fair" environment for Chinese investors.     Outbound investment from China in overseas markets has grown significantly recently, at the same time as investment from traditional big spenders, including the United States and European countries, has slowed.     "China is stepping up its overseas efforts, despite the economic recession worldwide," said Zhang Xiaoqiang, vice-director of the National Development and Reform Commission. "Many of China's companies are active investors."     China's overseas direct investment rose 190 percent year-on-year in the third quarter, bringing the total investment for the first nine months to 32.87 bln U.S. dollars, the Ministry of Commerce announced recently.     That growth has been a blessing for many countries recently, Zhang said.     Jon Huntsman, the US ambassador to China, agreed, saying China's investment was "important in improving and stimulating the world economy".     Huntsman said the US has benefited from the investments of other nations. Between 2003 and 2008, countries invested more than 325 billion dollars in some 4,300 projects in the US.     Huntsman said China was "one of the nations with the fastest growing investment in the US" with an annual growth rate in investment volume of 30 percent throughout the 2004-to-2008 period.     "China is a leading nation in stimulating the revival of developing economies by way of investment," said Taffere Tesfachew, chief of the Office of the Secretary-General under the United Nations Conference on Trade and Development (UNCTAD).     Statistics from UNCTAD shows that in 2008, investment flowing out of the US declined by 18 percent to 312 billion. Flows from EU nations plunged by 30 percent to 837 billion. But emerging economies, and China in particular, increased overseas investment, Tesfachew told China Daily.     Nations and regional areas throughout "Africa and Asia could benefit a lot from it," he added.     F. Marcelle Gairy, Grenada's ambassador to China, said: "We have great sunshine to grow plants and many other advantageous sectors to tap. China has good technology to realize our dreams."     "It is win-win investment," she said.     "China's technology is cheaper, innovative and very useful," added Mifzal Ahmed, advisor on investments for the Maldives' Ministry of Economic Development.     While the UNCTAD forecasts investment outflows from Asia will slow this year, the organization believes the region will still outperform the rest of the world.     "Outflows from China and India are the most noteworthy," said Tesfachew.

BEIJING, Nov. 13 (Xinhua) -- China should keep home prices from long time "abnormal increases" and divert profits made from home price hikes to the public through taxation, a senior property official said here Friday.     Dong Zuoji, director of land planning department of the Ministry of Land and Resources, said home prices would continue to rise as the land in the world's fastest-growing economy is becoming increasingly scarce, but the government should use taxes to give the added value of the land back to society.     "China hasn't seen overcapacity in real estate sector on the whole, otherwise home prices wouldn't have gained so much," he said while attending a meeting held in Beijing.     Dong said the government would increase land supply for subsidized homes and adopt measures to prevent developers from hoarding land.     The government would also guarantee land use for high-tech, high added-value enterprises while limiting that of backward production projects.     Due to a series of supportive measures adopted by the government, China's property sector rebounded strongly this year. Home prices in 70 large and medium-sized cities rose for the eight straight month in October.     Average house price in Beijing surged 43.7 percent in July from that of January, to 14,500 yuan per square meter, Golden Keys, a property agent said on July 17.