1. China to seek public opinions on upcoming energy law
Dec. 3, China releases the draft version of a long-awaited energy law, calling for more environmentally-friendly energy policies and a more market-based pricing mechanism. The law aims to "construct a stable, economical, clean and sustainable energy supply and service system, increase energy efficiency and safeguard energy security," says the draft posted on a government agency website. The law was published on the website of the Office of the National Energy Leading Group, an elite policy-making body, and will solicit opinions from the public until Feb. 1. China will establish energy pricing systems mainly determined by market forces, but government controls will continue to play a role, it says. It adds that pricing should reflect "the scarcity of resources and costs of damaging the environment." [www.sohu.com, 2007.12.04]
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2. Ministry of Land and Resources to check illegal land seizure
Dec. 3, the Ministry of Land and Resources, the Ministry of Finance and the People's Bank of China jointly issue a regulation about land reservation and management. The development period of a piece of land should not be longer than three years. A widespread problem is that local government authorities collude with businessmen to force people off their property to make way for lucrative developments. [www.sina.com.cn, 2007.12.04]
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3. EIB hopes climate loan will spur change in China
The European Investment Bank (EIB) hopes its loan to China to help it fight climate change will have a "demonstration effect" that could spur more greenhouse gas-reducing projects, the bank's president said. The 500m-euro loan was signed at EU-China meetings in Beijing this week that concluded with an agreement to set up a dialogue to tackle a range of issues, from climate change to growing trade friction and the value of China's currency. "It's a financial help, but this can be also a demonstration effect," EIB President Philippe Maystadt said of the loan. [www.sina.com.cn, 2007.12.04]
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4. Small foreign-funded companies also can get "Road Transport Licenses"
According to the Dongguan Municipal Bureau of Transportation in Guangdong province, small foreign-funded companies also can get "Road Transport Licenses." [www.sina.com.cn, 2007.12.04]
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5. CNPC to supply crude oil to independent refiners
China National Petroleum Corp. (CNPC) will supply 500,000 tons of crude oil to independent refineries in Shandong province, as Beijing ups pressure on its state-owned firms to ensure domestic supplies during lingering shortages. Local refiners in Shandong were keen to access more supplies of crude oil, which are strictly controlled by state-owned firms. [www.sina.com.cn, 2007.12.04]
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6. Foreign investors scared away by criminal gangs in Yangjiang
Foreign investors were scared away by criminal gangs in Yangjiang, Guangdong province. The reporter interviews citizens in Yangjiang. Prices in Yangjiang are higher than in Guangdong and Shenzhen. [www.sina.com.cn, 2007.12.04]
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7. China and EU agree to establish High-Level Economic and Trade Dialogue at Vice-Premier level
Dec. 3, the Joint Statement of the Tenth China-EU Summit is published. Both sides agree to establish by the end of March 2008 a High-Level Economic and Trade Dialogue between the European Commission and the State Council of China at the level of Vice-Premier which will discuss strategies in China-EU trade, investment and economic cooperation, coordinate bilateral projects and studies and develop plans in priority sectors. It will cover issues affecting the trade imbalance, including inter alia effective market access, intellectual property rights, environment, high technology and energy in order to find concrete means to increase trade in a balanced way. To this end, the Chinese Minister of Commerce and the EU Trade Commissioner will meet as necessary to prepare this mechanism and its agenda. [www.jrj.com.cn, 2007.12.04]
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8. China Banking Regulatory Commission calls for unifying supervision standards for domestic and foreign banks in China
Fan Wenzhong, deputy director of the research institute of the China Banking Regulatory Commission, says at a forum that the supervision standards for domestic and foreign banks in China should be unified. Dec. 11, 2006, the Administrative Regulations on Foreign-Invested Banks was put into effect. [www.jrj.com.cn, 2007.12.04]
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9. Ministry of Commerce releases draft trade promotion measures
Dec. 3, the Ministry of Commerce releases draft trade promotion measures and solicits opinions from the public. The Ministry of Commerce will establish a trade promotion center for SMEs. [www.hexun.com, 2007.12.04]
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10. NYSE to inaugurate Beijing office on Dec. 11
The New York Stock Exchange (NYSE) will officially inaugurate its Beijing office next week. NYSE Euronext (NYX) Chief Executive Officer Duncan L. Niederauer will travel to the Chinese capital to host the grand opening on Dec. 11 in his first overseas trip since becoming exchange boss earlier this year. [www.hexun.com, 2007.12.04]
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11. Policies about stock-rights contribution will be unified in the Yangtze River Delta Region
Starting Dec. 3, the Jiangsu provincial administration for industry and commerce, Zhejiang provincial administration for industry and commerce and Shanghai municipal administration for industry and commerce will jointly launch two new policies. Policies about stock-rights contribution will be unified in the Yangtze River Delta Region. [Shanghai Securities News , 2007.12.04]
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12. Ministry of Commerce plans to open auto import market
Nov. 20, the Ministry of Commerce held a conference in Guangzhou. Nov. 28, the China Automobile Dealers Association (CADA) held a conference in Tianjin. The two conferences are both about auto import regulations. Huang Yonghe, director of the Office of Auto Policy of China Automotive Technology and Research Center, suggests that the Chinese government open an auto import market. [21st Century Business Herald, 2007.12.04]
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