http://english.people.com.cn/ http://english.people.com.cn/images/en/top_logo_e.gif People's Daily Online http://english.people.com.cn/90001/90778/ 6892685 2010-02-10 13:25:11 &$Source:Global Times&$&$ ]]> 6892668 2010-02-10 13:17:22 &$Source:Xinhua&$&$ ]]> 6892668 2010-02-10 13:17:22 &$Source:Xinhua&$&$ ]]> 6892638 2010-02-10 13:18:36 &$Source:China Daily&$&$ ]]> 6892633 2010-02-10 12:18:32 &$Source:Xinhua&$&$ ...]]> &$Source:Xinhua&$&$ ]]> 6892632 2010-02-10 12:17:40 &$Source:Xinhua&$&$ ]]> 6892631 2010-02-10 12:16:24 &$Source:Xinhua&$&$ ]]> 6892631 2010-02-10 12:16:24 &$Source:Xinhua&$&$ ]]> 6892630 2010-02-10 12:15:35 &$Source:Xinhua&$&$ ]]> 6892596 2010-02-10 11:24:10 &$ "The arbitrage trade is acting as a form of support in Asian trade, but we can't rule out further downside risk if we get more bad news about European debt." &$&$ Three-month copper on the London Metal Exchange (LME) rose $67.75 to $6,514.75 a ton by 07:01 GMT, building on Monday's 3 percent gain. Earlier copper dipped to $6,371.25. "There was a strong recovery on Monday in response to the oversold condition of many metals and gains in equities on Friday," a trader in Melbourne said. "But the bears are back on Wall Street and I think metals may see more losses or at least a period of consolidation." US equity markets fell on Monday but the MSCI index of Asian shares outside Japan rose 0.8 percent after dipping to a five-month low. Volumes remained brisk ahead of the Lunar New Year. Some 3,000 lots of copper traded on LME Select during the Asian trading day, 50 percent above average but off the records seen in the past few days. &$&$ "The new year will cause some volatility. With the Chinese out for a week, we could see some big moves," a trader in Hong Kong said. Market watchers speculated the recent sell-off in metals could be a bear trap, tempting investors to bet on falling prices and then taking advantage of China's absence to drive prices higher and spark a sharp short-covering rally. "There are two schools of thought - this might be a bear trap or prices will continue their collapse," the Hong Kong trader said. "People are very wary that we haven't quite managed to break through downside support at the 200-day moving average at $6,000, whereas a close above $6,750 would stir up a lot of short covering." Benchmark third-month Shanghai copper rose 670 yuan to 53,320 yuan a ton by the close, while the arbitrage between Shanghai and the LME was a wide 1,300 yuan. The zinc arbitrage was also wide at about 1,000 yuan in favor of importing into China, something that might show up in Chinese trade data due later this week, traders said. The arbitrage window was shut for most of the last quarter of 2009, curbing appetite for imported metal. In December, China imported 19,000 tons of zinc, down 10 percent on the month and well off the 2009 record peak of 121,000 tons struck in March. &$&$Source:China Daily&$&$ ]]> 6892595 2010-02-10 11:22:36 &$Source:China Daily&$&$ ]]> 6892591 2010-02-10 11:17:23 6892588 2010-02-10 11:15:22 &$Source:China Daily&$&$ ]]> 6892587 2010-02-10 11:14:36 &$Source:China Daily&$&$ ]]> 6892558 2010-02-10 11:02:47 &$By People's Daily Online&$&$ ]]> 6892542 2010-02-10 10:46:24 &$Source:Xinhua&$&$ ]]> 6892542 2010-02-10 10:46:24 &$Source:Xinhua&$&$ ]]> 6892540 2010-02-10 10:45:29 &$Source:Xinhua&$&$ ]]> 6892540 2010-02-10 10:45:29 &$Source:Xinhua&$&$ ]]> 6892537 2010-02-10 10:44:55 &$Source:Xinhua&$&$ ]]> 6892533 2010-02-10 10:44:18 &$Source:Xinhua&$&$ ]]> 6892533 2010-02-10 10:44:18 &$Source:Xinhua&$&$ ]]> 6892531 2010-02-10 10:43:45 &$Source:Xinhua&$&$ ]]> 6892531 2010-02-10 10:43:45 &$Source:Xinhua&$&$ ]]> 6892529 2010-02-10 10:43:13 &$Source:Xinhua&$&$ ]]> 6892508 2010-02-10 10:37:05 &$Source:China Daily&$&$ ]]> 6892506 2010-02-10 10:36:15 &$Source:China Daily&$&$ ]]> 6892503 2010-02-10 10:35:28 &$Source:China Daily&$&$ ]]> 6892500 2010-02-10 10:33:21 &$Source:China Daily&$&$ ]]> 6892497 2010-02-10 10:32:38 &$Source:China Daily&$&$ ]]> 6892496 2010-02-10 10:38:05 &$Source:China Daily&$&$ ]]> 6892496 2010-02-10 10:38:05 &$Source:China Daily&$&$ ]]> 6892494 2010-02-10 10:30:26 &$Source:China Daily&$&$ ]]> 6892475 2010-02-10 10:22:50 &$Source:Xinhua&$&$ ...]]> &$Source:Xinhua&$&$ ]]> 6892472 2010-02-10 10:18:17 &$Source:Xinhua&$&$ ]]> 6892472 2010-02-10 10:18:17 &$Source:Xinhua&$&$ ]]> 6892471 2010-02-10 10:17:46 &$Source:Xinhua&$&$ ]]> 6892471 2010-02-10 10:17:46 &$Source:Xinhua&$&$ ]]> 6892464 2010-02-10 10:12:06 &$Source:Xinhua&$&$ ]]> 6892464 2010-02-10 10:12:06 &$Source:Xinhua&$&$ ]]> 6892459 2010-02-10 10:11:06 &$Source:Xinhua&$&$ ]]> 6892459 2010-02-10 10:11:06 &$Source:Xinhua&$&$ ]]> 6892457 2010-02-10 10:10:30 &$Source:Xinhua&$&$ ]]> 6892457 2010-02-10 10:10:30 &$Source:Xinhua&$&$ ]]> 6892456 2010-02-10 10:09:57 &$Source:Xinhua&$&$ ]]> 6892456 2010-02-10 10:09:57 &$Source:Xinhua&$&$ ]]> 6892277 2010-02-10 08:56:53 6892271 2010-02-10 08:55:59 &$Source: Agencies&$&$&$ 【1】 【2】 【3】 【4】 【5】 【6】 【7】 &$&$ &$ ]]> 6892270 2010-02-10 08:55:59 &$PAYING FOR A SCREW-UP &$&$ Toyota knew how to run a textbook recall. When Toyota launched its Lexus brand in 1989, the long-awaited LS400 was hit by a series of glitches, including a tail lamp prone to overheating. The recall threatened to kill the luxury brand in its cradle. Toyota suspended production and ramped up output of replacement parts. Its California-based sales arm sent representatives out to pick up every one of the 8,000 LS400s that had been sold and provide owners ...]]> &$PAYING FOR A SCREW-UP &$&$ Toyota knew how to run a textbook recall. When Toyota launched its Lexus brand in 1989, the long-awaited LS400 was hit by a series of glitches, including a tail lamp prone to overheating. The recall threatened to kill the luxury brand in its cradle. Toyota suspended production and ramped up output of replacement parts. Its California-based sales arm sent representatives out to pick up every one of the 8,000 LS400s that had been sold and provide owners with a free loaner while repairs were under way. The cars were returned washed and with a full tank of gas. Lexus dealers and customers were impressed by the attention and the brand went on to outsell BMW and Daimler AG in the U.S. market over the next two decades. That record of success made Toyota dealers deeply loyal -- and rich. It also drew investment from listed dealership groups that bet Toyota franchises would continue to outsell and out-service the rest of a wildly cyclical industry. As of end September, 2009, Houston-based Group 1 Automotive drew 39 percent of its new-car sales revenue from its Toyota stores. At Fort Lauderdale-based AutoNation it was 21 percent. For Bloomfield Hills, Michigan-based Penske it was 20 percent. "Toyota is struggling with being the largest automaker in the world. It certainly has issues, but you have to give them credit. They face reality. They deal with it," AutoNation CEO Mike Jackson said in September, before the first of two massive recalls. In part because Toyota had kept a tight lid on the number of its dealerships, the franchises remained far more profitable than U.S. car dealerships. In 2008, during a recession, the average Toyota dealership sold four cars a day. The average Ford dealer sold one. In a pep talk last month partly aimed at its dealers, Toyota pledged to contain the damage to its brand from the recall announced in September for the risk that floor mats could trap accelerator pedals. "A product recall is an opportunity to reconnect with customers in ways we haven't before and to re-prove ourselves in their eyes," Inaba said on January 12 in a speech in Detroit. But four days later -- a Saturday -- Toyota's safety staff in Washington called NHTSA to let the agency know it had discovered a flaw with an accelerator manufactured by CTS Corp, an Indiana supplier that the automaker had begun to use in 2005 during its fast-growth phase. The problem: the CTS-built accelerator -- a $15 part -- could become stuck in some cases due to wear and moisture, Toyota had found. The bigger problem: the flaw affected over 2 million vehicles and the automaker had not yet fully figured out a way to fix it quickly. On Tuesday, January 19 Inaba, Toyota U.S. sales chief Jim Lentz and others were summoned to Washington. NHTSA officials say they said they wanted prompt action. Toyota's executives called back several hours later to say that they were launching a recall. The announcement on Thursday, January 21 looked bad for Toyota. But the situation turned dire the next Monday. U.S. safety regulators told Toyota it would have to take the unprecedented step of suspending sales of eight models while it rushed to find a fix.&n ]]> 6892268 2010-02-10 08:55:59 &$CRACKS IN THE ARMOR &$&$ In October 2007, Dave Champion, director of auto testing for Consumer Reports in Connecticut, was confronted by a shocking result from the magazine's influential survey of subscribers. "After years of sterling reliability, Toyota was showing cracks in the armor," Champion recalled. In a bombshell, the non-profit magazine dropped the V6 version of the Camry and two other vehicles from its recommended list. About the same time in Bloomington, Illinois, a ...]]> &$CRACKS IN THE ARMOR &$&$ In October 2007, Dave Champion, director of auto testing for Consumer Reports in Connecticut, was confronted by a shocking result from the magazine's influential survey of subscribers. "After years of sterling reliability, Toyota was showing cracks in the armor," Champion recalled. In a bombshell, the non-profit magazine dropped the V6 version of the Camry and two other vehicles from its recommended list. About the same time in Bloomington, Illinois, a team of number-crunching accident investigators was seeing a worrying pattern. A team known as CRASH at privately held insurer State Farm had noticed a spike in accidents involving Toyota vehicles including the top-selling Camry. State Farm, the largest U.S. auto insurer, notified U.S. regulators of the pattern. "If we believe a vehicle played a significant part in causing damages, we go back to the manufacturer," said spokesman Kip Diggs. "We tell them 'We believe your product is faulty and you need to pay us for the damages.'" "When you start to see significant claims activity that indicates there may be widespread problems with a product, that's when you go to NHTSA," said Diggs. "There had to have been significant activity, a noticeable trend for that to happen." Elsewhere, Toyota insiders and rivals had also begun to note other signs of distress in an organization that had started the decade with a goal to double its global market to 15 percent. The implicit outcome was understood by everyone in the industry: overtaking GM as No. 1. On the cusp of hitting that benchmark, some inside Toyota began to worry. To their minds, the goal had always been intended as one of Toyota's audacious stretch targets, like Watanabe's vision of a car that would clean the air. Toyota had even dropped it as a target, but now it was happening. "We feel more comfortable being behind someone else and not No. 1," said Yoshi Inaba, who was summoned out of retirement to set right U.S. operations. By 2007, Toyota's U.S. sales had rocketed by 80 percent from the start of the decade. Market share had almost doubled from just under 9 percent to 16 percent. In unit sales terms, it was as though Toyota had absorbed a second automaker the size of Honda and the bulge was still moving through the snake. "The checks and balances started to break down," said Vikas Sehgal, an auto industry expert and partner at Booz & Co. "At some point, the dis-economies of scale come into play." At the same time, Toyota found itself struggling to inculcate newcomers in the company's unique culture -- The Toyota Way. Kazuo Akatsuka, 55, saw the generational change first-hand and worried at the signs of change at the Tsutsumi plant where they build the Prius. Akatsuka worried that a new crop of temporary workers, some sporting piercings and dyed-hair, might just be working for a paycheck. They might not have bought into the Toyota Way, he said. "The people that were so precise, the people that sweat and built this company are no longer here. And to a certain degree I feel that passion has not been passed on," he said. "I feel like that attention to quality is gradually being forgotten." To keep the Toyota Way alive, workers& ]]> 6892267 2010-02-10 08:55:59 6892266 2010-02-10 08:55:59 &$GETCHA BOOTS ON &$&$ One of the organizing principles of Toyota's industrial ideology is that you have to "genchi genbutsu" a problem. In Japanese that means you have to go to the place, to touch the thing itself. You have to meet the customer, lift the hood, get your hands dirty. Walk, don't talk, Toyota instructs its workers. It is a phrase that Akio Toyoda, grandson of the company's founder, is fond of trotting out. "Quality is Toyota's lifeline," he said in his first public appearance in the United States after becoming Toyota's president in June. In its relentless quest for quality, said Toyoda, the company had to live and breathe the two big ideas that had made it great: "customer first" and "genchi genbutsu." Some of Toyota's first U.S. production workers hired for its flagship plant in Kentucky two decades ago joked that they heard that latter phrase differently in English. To them, it sounded like "Getcha boots on." After three months of busy and sometimes frustrated exchanges with Toyota's U.S. staff on safety issues, the U.S. Department of Transportation decided last December to try a very Toyota tactic to get the automaker's attention. Medford got his boots on and headed to Japan. In a crowded meeting hall in Toyota's headquarters on December 15, Medford and two other senior NHTSA officials first delivered what amounted to a remedial lesson in U.S. safety regulation for about 100 Toyota engineers and executives, a primer in how the system is supposed to work. Then the Americans retired to a conference room to hammer home the no-nonsense warning to a smaller group. Across the table was Toyota's top officer in charge of quality, Hiroyuki Yokoyama, and the head of the engineering team that handled consumer complaints, Shinji Miyamoto. In a company that built its reputation on an almost paranoid obsession with quality, Yokoyama and Miyamoto were the keepers of the flame. Toyota knew that NHTSA officials were also scheduled to meet with Honda and Nissan and Japan's transport ministry so they were blindsided by this kind of tough meeting. "A ]]> 6892265 2010-02-10 08:55:58 【1】 【2】 【3】 【4】 【5】 【6】 【7】 &$&$ &$ ]]> 6892264 2010-02-10 08:55:51 6892252 2010-02-10 08:53:51 &$Source:Global Times&$&$ ]]> 6892251 2010-02-10 08:55:58 &$【1】 &$&$【2】 &$&$【3】 &$&$【4】 &$&$【5】 &$&$【6】 &$&$【7】 &$ &$ &$&$ ]]> 6892251 2010-02-10 08:55:58 &$【1】 &$&$【2】 &$&$【3】 &$&$【4】 &$&$【5】 &$&$【6】 &$&$【7】 &$ &$ &$&$ ]]> 6892234 2010-02-10 08:49:46 &$Source:Global Times&$&$ ]]> 6892219 2010-02-10 08:46:06 &$Source:China Daily&$&$ ]]> 6892148 2010-02-10 08:30:29 &$Source:Xinhua&$&$ ...]]> &$Source:Xinhua&$&$ ]]> 6892148 2010-02-10 08:30:29 &$Source:Xinhua&$&$ ...]]> &$Source:Xinhua&$&$ ]]> 6892146 2010-02-10 08:29:57 &$Source:Xinhua&$&$ ]]> 6892141 2010-02-10 08:29:04 &$Source:Xinhua&$&$ ]]> 6892141 2010-02-10 08:29:04 &$Source:Xinhua&$&$ ]]> 6892138 2010-02-10 08:28:32 &$Source:Xinhua&$&$ ]]> 6892134 2010-02-10 08:27:29 &$Source:Xinhua&$&$ ]]> 6892134 2010-02-10 08:27:29 &$Source:Xinhua&$&$ ]]> 6892129 2010-02-10 08:26:45 &$Source:Xinhua&$&$ ]]> 6892129 2010-02-10 08:26:45 &$Source:Xinhua&$&$ ]]> 6892124 2010-02-10 08:26:22 &$Source:Xinhua&$&$ ]]> 6892119 2010-02-10 08:24:01 &$Source:Xinhua&$&$ ]]> 6892119 2010-02-10 08:24:01 &$Source:Xinhua&$&$ ]]> 6892116 2010-02-10 08:23:27 &$Source:Xinhua&$&$ ]]> 6892076 2010-02-10 08:14:20 &$Central bank signal comes amid division over interest rate hikes&$&$ Central bank governor Zhou Xiaochuan said yesterday China's inflation rate remains "relatively low", amid ongoing debate among officials and economists on when policymakers should raise interest rates to rein in rising inflation and asset prices. The inflation rate still needs to be "closely watched", Zhou told reporters in Sydney after a meeting with other central bankers. China's consumer price index (C ...]]> &$Central bank signal comes amid division over interest rate hikes&$&$ Central bank governor Zhou Xiaochuan said yesterday China's inflation rate remains "relatively low", amid ongoing debate among officials and economists on when policymakers should raise interest rates to rein in rising inflation and asset prices. The inflation rate still needs to be "closely watched", Zhou told reporters in Sydney after a meeting with other central bankers. China's consumer price index (CPI), a major measure of inflation, rose by 1.9 percent in December from 0.6 percent in November, due to the country's ample liquidity. The country initiated its economic stimulus plan to keep economic growth stable in late 2008. Chinese banks extended 9.6 trillion yuan ($1.4 trillion) in new yuan loans in 2009, almost double that of 2008, while the lending in January is forecast to reach 1.3 trillion yuan. The rapidly rising inflation, together with surging house prices, has led to expectations of imminent interest rate hikes. The stock market has also been declining in recent trading days as investors expected more tightening policies following the country's move to raise the reserve requirement ratio of commercial banks and tighten real estate deals. But Dai Xianglong, chairman of the influential National Social Security Fund, said in a speech in India on Monday that China was unlikely to raise interest rates in the first half of 2010 as the economic recovery was still not on solid ground. Dai, a former central bank governor, said that despite possible policy adjustments to combat inflation and asset bubbles, money and lending supply will remain relatively loose over the course of the year. "Interest rate hikes are not the most appropriate tool if policymakers want to control inflation," said Zuo Xiaolei, chief economist of China Galaxy Securities. China's recent inflation rise, in essence, stems from increasing liquidity in the financial system. The best way to curb inflation is to raise banks' reserve requirement rate or conduct open market operations, she said. China announced the raising of banks' reserve requirement ratio, or the proportion of money commercial banks must keep in reserve, on Jan 12. It has also resorted to a number of open market operations to mop up liquidity as banks rushed to lend to pre-empt a possible tightening of policy. China may continue to raise the requirement ratio this year, possibly increasing it three or four times to 18 percent from the current 16 percent, said Qu Hongbin, chief China economist of HSBC. Qu said an interest rate hike could come in April because inflation could be very serious if interest rates are not raised. China is scheduled to release its first-quarter economic data in mid-April. Economists also forecast that China's CPI could be mild in January, because of the relatively high base of last January. China's traditional Spring Festival fell in January last year. But it can rise up to 3 percent in February as consumption can still pick up during the Chinese New Year period, which starts on Feb 14, analysts said. Inflation could stabilize later, Nomura Securities reported. "If that happens, the possibility of interest rate hikes would decrease," said Zhang Lan, head of research at Shanghai-based Changjiang Securities. &$& ]]> 6892021 2010-02-09 20:38:54 &$Source: Xinhua&$&$ ]]> 6892021 2010-02-09 20:38:54 &$Source: Xinhua&$&$ ]]> 6892020 2010-02-09 20:37:55 &$Source: Xinhua&$&$ ]]> 6892019 2010-02-09 20:36:54 &$Source: Xinhua&$&$ ]]> 6892019 2010-02-09 20:36:54 &$Source: Xinhua&$&$ ]]> 6892018 2010-02-09 20:35:30 &$Source: Xinhua&$&$ ]]> 6892018 2010-02-09 20:35:30 &$Source: Xinhua&$&$ ]]> 6892017 2010-02-09 20:32:26 File photos taken on Dec. 30, 2009 shows planes of China Eastern Airlines and Shanghai Airlines in Shanghai, east China. The two air companies announced their successful merger on Feb. 8, 2010. (Xinhua/Xia Benjian)&$ 【1】 【2】 【1】 【2】 【3】 【4】 &$&$ &$ ]]> 6892016 2010-02-09 20:32:26 File Photo taken on Dec. 30, 2009 shows passengers transferring from China Eastern Airlines (Far Rear) boarding a flight of Shanghai Airlines at the Hongqiao Airport in Shanghai, east China. The two Chinese air companies announced their successful merger on Feb. 8, 2010. (Xinhua/Xia Benjian)&$ 【1】 【1】 【2】 【3】 【4】 &$&$ &$ ]]> 6892015 2010-02-09 20:32:25 Photo taken on Feb. 8, 2010 shows the joint meeting held by both China Eastern Airlines and Shanghai Airlines in Shanghai, east China, during which the two Chinese air companies announced their successful merger. (Xinhua/Xia Benjian)&$ 【1】 【2】 【1】 【2】 【3】 【4】 &$&$ &$ ]]> 6892014 2010-02-09 20:34:03 &$Stewardess of both China Eastern Airlines and Shanghai Airlines show up at a joint meeting by the two airlines in Shanghai, east China, on Feb. 8, 2010, during which the two Chinese air companies announced their successful merger. (Xinhua/Xia Benjian)&$ &$【1】 &$&$【2】 ...]]> &$Stewardess of both China Eastern Airlines and Shanghai Airlines show up at a joint meeting by the two airlines in Shanghai, east China, on Feb. 8, 2010, during which the two Chinese air companies announced their successful merger. (Xinhua/Xia Benjian)&$ &$【1】 &$&$【2】 &$&$【3】 &$&$【4】 &$ &$ &$&$ ]]> 6892004 2010-02-09 20:18:15 &$By People's Daily Online&$&$ ]]> 6892003 2010-02-09 20:16:24 &$By People's Daily Online&$&$ ]]> 6892002 2010-02-09 20:14:49 &$By People's Daily Online&$&$ ]]> 6891979 2010-02-09 17:52:45 &$Source: Xinhua&$&$ ]]> 6891979 2010-02-09 17:52:45 &$Source: Xinhua&$&$ ]]> 6891978 2010-02-09 17:47:08 &$Source: Xinhua&$&$ ]]> 6891978 2010-02-09 17:47:08 &$Source: Xinhua&$&$ ]]> 6891973 2010-02-09 17:31:40 &$Source: Xinhua&$&$ ]]> 6891970 2010-02-09 17:30:38 &$Source: Xinhua&$&$ ]]> 6891964 2010-02-09 17:24:12 &$Source: Xinhua&$&$ ]]> 6891831 2010-02-09 16:28:16 &$Source: Xinhua&$&$ ]]> 6891813 2010-02-09 16:17:16 &$Source: Xinhua&$&$ ]]> 6891813 2010-02-09 16:17:16 &$Source: Xinhua&$&$ ]]> 6891610 2010-02-09 13:29:51 &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to recall its new Prius hybrid ...]]> &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to recall its new Prius hybrid in Japan to fix a braking software glitch, a dealer said Sunday. (Xinhua/Reuters Photo)&$&$ The recall will include over 170,000 vehicles of the latest model of its iconic Prius hybrid, which was admired worldwide as the leading model because of its use of clean technology, over a brake problem that has led to 94 complaints in Japan. The world's largest automaker is also expected to recall three other models including the luxury Lexus HS250h sedan and the hybrid-only Sai compact sedan, which employ a similar brake system to the Prius, involving a total 220,000 vehicles in Japan, Kyodo News reported, citing sources familiar with the matter. Toyota President Akio Toyoda will hold a press conference on the matter in Tokyo in the afternoon, which is only the second news conference after the incident occurred. Toyota sources had said it will also recall the model in the United States. The brake problem is thought to affect 100,000 units of Prius in the U.S.. A further 40,000 have been sold in around 60 other countries. The reputation crisis for Toyota escalates in the U.S. when a Californian woman sued Toyota Motor Sales for its negligence and breach of warranty over a 2010 Prius she bought last August, alleging that the car has severe braking problems that make it dangerous to drive, according to the court papers. &$ &$Photo taken on Feb. 5, 2010 shows a Toyota Motor Corp.'s Prius hybrid car at a car dealer in New York, the United States.(Xinhua/Liu Xin)&$&$ Toyota blames a software glitch for the brake problem. When the recall is carried out, a Toyota user can bring the Prius to a nearby dealer where the problems can be fixed by improving the software for the antilock brake system. The procedure itself is expected to take up to around two hours. &$ &$Photo taken on Feb. 5, 2010 shows the brake pedal and the accelerator of a Toyota Motor Corp.'s Prius hybrid car at a car dealer in New York, the United States.(Xinhua/Liu Xin)&$&$ The trouble is likely to further dent the automaker's reputation for safety, after a recall in the United States last year 5.55 million vehicles over a fault with the gas pedal that could lead the car to suddenly accelerate. It is expected that Toyota will have recalled around 10 million vehicles worldwide as the current crisis continues to worsen. The automaker is expected to follow its application for a recall of the Prius in Japan with similar filings worldwide. The Prius has sold around 300,000 units in North America, Asia, Europe, the Middle East and Africa. In another development, local media reported that Toyota has stopped shipping cars that use a similar system to the Prius' and is likely to halt production of models until the problem is rectified. In Japan,&a ]]> 6891610 2010-02-09 13:29:51 &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to recall its new Prius hybrid ...]]> &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to recall its new Prius hybrid in Japan to fix a braking software glitch, a dealer said Sunday. (Xinhua/Reuters Photo)&$&$ The recall will include over 170,000 vehicles of the latest model of its iconic Prius hybrid, which was admired worldwide as the leading model because of its use of clean technology, over a brake problem that has led to 94 complaints in Japan. The world's largest automaker is also expected to recall three other models including the luxury Lexus HS250h sedan and the hybrid-only Sai compact sedan, which employ a similar brake system to the Prius, involving a total 220,000 vehicles in Japan, Kyodo News reported, citing sources familiar with the matter. Toyota President Akio Toyoda will hold a press conference on the matter in Tokyo in the afternoon, which is only the second news conference after the incident occurred. Toyota sources had said it will also recall the model in the United States. The brake problem is thought to affect 100,000 units of Prius in the U.S.. A further 40,000 have been sold in around 60 other countries. The reputation crisis for Toyota escalates in the U.S. when a Californian woman sued Toyota Motor Sales for its negligence and breach of warranty over a 2010 Prius she bought last August, alleging that the car has severe braking problems that make it dangerous to drive, according to the court papers. &$ &$Photo taken on Feb. 5, 2010 shows a Toyota Motor Corp.'s Prius hybrid car at a car dealer in New York, the United States.(Xinhua/Liu Xin)&$&$ Toyota blames a software glitch for the brake problem. When the recall is carried out, a Toyota user can bring the Prius to a nearby dealer where the problems can be fixed by improving the software for the antilock brake system. The procedure itself is expected to take up to around two hours. &$ &$Photo taken on Feb. 5, 2010 shows the brake pedal and the accelerator of a Toyota Motor Corp.'s Prius hybrid car at a car dealer in New York, the United States.(Xinhua/Liu Xin)&$&$ The trouble is likely to further dent the automaker's reputation for safety, after a recall in the United States last year 5.55 million vehicles over a fault with the gas pedal that could lead the car to suddenly accelerate. It is expected that Toyota will have recalled around 10 million vehicles worldwide as the current crisis continues to worsen. The automaker is expected to follow its application for a recall of the Prius in Japan with similar filings worldwide. The Prius has sold around 300,000 units in North America, Asia, Europe, the Middle East and Africa. In another development, local media reported that Toyota has stopped shipping cars that use a similar system to the Prius' and is likely to halt production of models until the problem is rectified. In Japan,&a ]]> 6891607 2010-02-09 13:27:22 &$By People's Daily Online&$&$ ]]> 6891606 2010-02-09 13:27:12 &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to ...]]> &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to recall its new Prius hybrid in Japan to fix a braking software glitch, a dealer said Sunday. (Xinhua/Reuters Photo)&$&$ The recall will include over 170,000 vehicles of the latest model of its iconic Prius hybrid, which was admired worldwide as the leading model because of its use of clean technology, over a brake problem that has led to 94 complaints in Japan. The world's largest automaker is also expected to recall three other models including the luxury Lexus HS250h sedan and the hybrid-only Sai compact sedan, which employ a similar brake system to the Prius. The trouble is likely to further dent the automaker's reputation for safety, after a recall in the United States last year 5.55 million vehicles over a fault with the gas pedal that could lead the car to suddenly accelerate. It is expected that Toyota will have recalled around 10 million vehicles worldwide as the current crisis continues to worsen. The automaker is expected to follow its application for a recall of the Prius in Japan with similar filings worldwide. The Prius has sold around 300,000 units in North America, Asia, Europe, the Middle East and Africa. &$ &$People walk past a car dealer of Toyota Motor Corp. in New York, the United States, on Feb. 5, 2010. The Japanese automaker Toyota has decided a mandatory recall of 270,000 units of its third-generation Prius hybrid car, which some consumers have reported has a brake problem, local media reported on Friday. Toyota, which has had a reputation for safety for many years, is likely to see a huge dent in its sales as media worldwide question the reliability of the cars. Analysts said that the automaker might never recover its reputation. (Xinhua/Liu Xin)&$&$ In another development, local media reported that Toyota has stopped shipping cars that use a similar system to the Prius' and is likely to halt production of models until the problem is rectified. In Japan, Toyota has benefited greatly from the "eco-point" series of stimulus measures, which reward consumers for purchasing products that are more friendly to the environment. &$&$Source: Xinhua&$&$ ]]> 6891606 2010-02-09 13:27:12 &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to ...]]> &$A Toyota Prius vehicle is pictured parked at a dealership in Crissier near Lausanne February 7, 2010. Toyota, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to recall its new Prius hybrid in Japan to fix a braking software glitch, a dealer said Sunday. (Xinhua/Reuters Photo)&$&$ The recall will include over 170,000 vehicles of the latest model of its iconic Prius hybrid, which was admired worldwide as the leading model because of its use of clean technology, over a brake problem that has led to 94 complaints in Japan. The world's largest automaker is also expected to recall three other models including the luxury Lexus HS250h sedan and the hybrid-only Sai compact sedan, which employ a similar brake system to the Prius. The trouble is likely to further dent the automaker's reputation for safety, after a recall in the United States last year 5.55 million vehicles over a fault with the gas pedal that could lead the car to suddenly accelerate. It is expected that Toyota will have recalled around 10 million vehicles worldwide as the current crisis continues to worsen. The automaker is expected to follow its application for a recall of the Prius in Japan with similar filings worldwide. The Prius has sold around 300,000 units in North America, Asia, Europe, the Middle East and Africa. &$ &$People walk past a car dealer of Toyota Motor Corp. in New York, the United States, on Feb. 5, 2010. The Japanese automaker Toyota has decided a mandatory recall of 270,000 units of its third-generation Prius hybrid car, which some consumers have reported has a brake problem, local media reported on Friday. Toyota, which has had a reputation for safety for many years, is likely to see a huge dent in its sales as media worldwide question the reliability of the cars. Analysts said that the automaker might never recover its reputation. (Xinhua/Liu Xin)&$&$ In another development, local media reported that Toyota has stopped shipping cars that use a similar system to the Prius' and is likely to halt production of models until the problem is rectified. In Japan, Toyota has benefited greatly from the "eco-point" series of stimulus measures, which reward consumers for purchasing products that are more friendly to the environment. &$&$Source: Xinhua&$&$ ]]> 6891601 2010-02-09 13:23:31 &$Source: Xinhua&$&$ ]]> 6891599 2010-02-09 13:22:43 &$Source: Xinhua&$&$ ]]> 6891595 2010-02-09 13:21:58 &$Source: Xinhua&$&$ ]]> 6891592 2010-02-09 13:20:30 &$Source: Xinhua&$&$ ]]> 6891590 2010-02-09 13:19:48 &$Source: Xinhua&$&$ ]]> 6891587 2010-02-09 13:18:41 &$Source: Xinhua&$&$ ]]> 6891584 2010-02-09 13:17:48 &$Source: Xinhua&$&$ ]]> 6891582 2010-02-09 13:16:41 &$Source: China Daily&$&$ ]]> 6891536 2010-02-09 11:19:33 &$By People's Daily Online&$&$ ]]> 6891500 2010-02-09 11:02:00 &$By People's Daily Online&$&$ ]]> 6891377 2010-02-09 10:44:33 &$By People's Daily Online&$&$ ]]> 6891305 2010-02-09 09:51:30 &$A 2011 Mercedes-Benz SLS AMG Gullwing at a recent Los Angeles auto show. Along with swelling auto sales in the country, an increasing number of luxury carmakers are eying China as a lucrative market. [CFP] &$&$ China has become the target market for the world's luxury auto manufacturers as demand for upscale vehicles surged last year despite a global slump. "China has been the most important market for lux ...]]> &$A 2011 Mercedes-Benz SLS AMG Gullwing at a recent Los Angeles auto show. Along with swelling auto sales in the country, an increasing number of luxury carmakers are eying China as a lucrative market. [CFP] &$&$ China has become the target market for the world's luxury auto manufacturers as demand for upscale vehicles surged last year despite a global slump. "China has been the most important market for luxury vehicles, so with consumption power increasing, the structure of the global automobile market is also changing and shifting its focus to China," said Liu Siyang, chief researcher with Samsung Economic Research Institute. "In the years to come, China's automobile market will not only improve sales numbers, but also enhance itself through sector restructuring." Analysts believe that with the economy growing again wealthy individuals will increasingly drive demand for luxury vehicles in China. Statistics from Boston Consulting Group show that by the end of 2009, China had 450,000 millionaires (calculated in US dollars), and over the next four years that number will rise to 800,000. In 2008, 33.4 out of 100 Chinese families owned a vehicle, compared with 16.2 out of 100 in 2005. According to the German luxury carmaker Audi, last year, 392,000 premium cars were sold in China, a surge of 38 percent over 2008. "In the European and American markets, as well as Japan, one out of every five car owners drives a luxury sedan. However, the figure in China is one in 10," Klaus Maier, president and CEO of Mercedes-Benz China told China Daily, indicating the growth potential for the luxury car market is strong. The German automaker concluded 2009 with its highest sales figures in its 23-year history in China, with 68,500 units moved off lots last year, That positioned the company as a market leader with the highest growth rate in the luxury sector, an annual increase of 77 percent year-on-year. The Mercedes' S-Class luxury car had sales of nearly 15,000 units in 2009, reinforcing the fact China is one of the company's largest markets in the world. "China was our group's fourth-largest market last year we are confident that the country will be Mercedes' No 3 global market this year," said Maier. He predicts China's luxury car sector will expand slightly faster than the industry as a whole, which is up 10 to 15 percent so far this year. Mercedes' German rival BMW reported record sales of 90,536 units in 2009, a 38 percent year-on-year increase. BMW and its Chinese partner, Brilliance Auto Group, announced last November that they would invest at least 5 billion yuan in China to construct a new plant designed to boost the joint-venture's - BMW Brilliance Automotive - annual output from 30,000 to 75,000 units by the end of 2010. For Audi, 2009 China sales surged 33 percent to 157,188 vehicles over the previous year, allowing it to easily maintain its dominance of the nation's luxury car segment. Johannes Thammer, general manager of Audi sales division at Sino-German joint venture FAW Volkswagen Automobile Co, said he expects China's overall luxury car sector to rise by 25 to 30 percent this year. Porsche SE, which counts China as its third biggest market, said it aims to sell over 10,000 cars in the country this& ]]> 6891299 2010-02-09 09:49:15 &$Source: China Daily&$&$ ]]> 6891296 2010-02-09 09:48:32 &$Source: China Daily&$&$ ]]> 6891292 2010-02-09 09:47:40 6891288 2010-02-09 09:45:41 &$Source: China Daily&$&$ ]]> 6891283 2010-02-09 09:44:59 &$Source: China Daily&$&$ ]]> 6891279 2010-02-09 09:43:40 &$The Industrial and Commercial Bank of China vows it will not issue new loans to developers who seek to speculate on rising property prices through "hoarding land" or "putting off home sales" and may also call back earlier credit to such borrowers. [China Daily] &$&$ The Industrial and Commercial Bank of China (ICBC) said yesterday it would apply stricter approval rules to property lending this year as part of ...]]> &$The Industrial and Commercial Bank of China vows it will not issue new loans to developers who seek to speculate on rising property prices through "hoarding land" or "putting off home sales" and may also call back earlier credit to such borrowers. [China Daily] &$&$ The Industrial and Commercial Bank of China (ICBC) said yesterday it would apply stricter approval rules to property lending this year as part of an effort to balance its loan structure and stem rising credit risks. The world's largest bank by market capitalization will not issue new loans to developers who seek to speculate on rising property prices through "hoarding land" or "putting off home sales" and may also call back earlier credit to such borrowers, the lender said at its 2010 work conference. "We will not finance property projects or developers with inadequate capital reserves," it added. The remarks followed repeated government calls to cool down the country's overheated property market at the beginning of this year, after housing prices in 70 major Chinese cities surged 7.8 percent year-on-year in December, the fastest pace in 2009. In the face of mounting concerns over inflation and asset bubbles, the central government has tightened monetary policy, including the 0.5 basis point lift in the lenders' reserve requirement ratio in January, to reduce the scale of lending since the beginning of this year. Record credit expansion last year effectively helped bolster China's economic growth, which recovered to 8.7 percent for the whole of 2009, but it also ignited the ensuing property market boom late last year. Liu Mingkang, chairman of the China Banking Regulatory Commission, said last month that the regulator would increase its supervision of property lending and urged Chinese banks to closely watch new developments in the real estate market. "Every Chinese bank has set an upper limit for lending to the real estate sector in recent years, but the limit will be lowered this year as lenders become more prudent and selective in offering loans to developers," said Fu Lichun, a banking analyst at Southwest Securities. Property loans usually account for one fifth of banks' total new lending annually. But Fu said he believed banks would not reduce property lending significantly because they must maintain a good relationship with developers in order to get more mortgage loan business, a profit-making sector for commercial banks. "There is not much risk of default in property loans within the next one or two years as an asset bubble burst is not an imminent threat," he said. Banking regulators aimed to limit new loans to 7.5 trillion yuan this year, 25 percent less than the nearly 10 trillion yuan banks gave out last year. As a result, banks are being urged to advance loans at a reasonable pace and avoid front-loaded and excessive loans at the beginning of the year. While controlling lending to industries with overcapacity and high pollution, ICBC said it would continue to offer finance to ongoing government-backed projects, environmentally, friendly emerging industries, small- and medium-sized enterprises, and for consumer spending. "We will maintain a reasonable and balanced pace of lending this year and make sure we satisfy real market demand," the bank said in a statement after the annual&n ]]> 6891278 2010-02-09 09:42:31 &$Source: China Daily&$&$ ]]> 6891274 2010-02-09 09:41:58 &$Source: China Daily&$&$ ]]> 6891156 2010-02-09 08:59:45 &$By Tu Lei&$&$ &$&$Source: Global Times&$&$ ]]> 6891155 2010-02-09 08:58:51 &$Source: Global Times&$&$ ]]> 6891154 2010-02-09 08:58:07 &$By Li Qiaoyi&$&$ &$&$Source: Global Times&$&$ ]]> 6891152 2010-02-09 08:57:22 6891120 2010-02-09 08:42:29 6891107 2010-02-09 08:38:34 &$Source: Xinhua&$&$ ]]> 6891104 2010-02-09 08:37:41 &$Source: Xinhua&$&$ ]]> 6891104 2010-02-09 08:37:41 &$Source: Xinhua&$&$ ]]> 6890980 2010-02-09 08:11:15 &$Source: Xinhua&$&$ ]]> 6890980 2010-02-09 08:11:15 &$Source: Xinhua&$&$ ]]> 6890978 2010-02-09 08:10:45 &$Source: Xinhua&$&$ ]]> 6890978 2010-02-09 08:10:45 &$Source: Xinhua&$&$ ]]> 6890976 2010-02-09 08:10:11 &$Source: Xinhua&$&$ ]]> 6890976 2010-02-09 08:10:11 &$Source: Xinhua&$&$ ]]> 6890975 2010-02-09 08:09:03 &$Source: Xinhua&$&$ ]]> 6890975 2010-02-09 08:09:03 &$Source: Xinhua&$&$ ]]> 6890973 2010-02-09 08:08:27 &$Source: Xinhua&$&$ ]]> 6890971 2010-02-09 08:07:14 &$Source: Xinhua&$&$ ]]> 6890970 2010-02-09 08:06:48 6890953 2010-02-08 21:33:10 &$Source: Xinhua&$&$ ]]> 6890933 2010-02-08 20:56:01 &$A worker assembles a mini car at an assembling line in Harbin Hafei Automobile Industry Group Co. LTD. (Hafei), northeast China's Heilongjiang Province, Jan. 18, 2010. Hafei put out and sold 245,000 cars in 2009, 30% more than the previous year. Among the cars produced, 22,000 are mini cars. Up to now, some 150,000 cars produced by Hafei have been exported to more than 40 countries and regions. (Xinhua/Wang Song)&$ &$A worker assembles a mini car at an assembling line in Harbin Hafei Automobile Industry Group Co. LTD. (Hafei), northeast China's Heilongjiang Province, Jan. 18, 2010. Hafei put out and sold 245,000 cars in 2009, 30% more than the previous year. Among the cars produced, 22,000 are mini cars. Up to now, some 150,000 cars produced by Hafei have been exported to more than 40 countries and regions. (Xinhua/Wang Song)&$ &$【1】 &$&$【2】 &$&$【3】 &$ &$ &$&$ ]]> 6890926 2010-02-08 19:58:29 &$Source: Xinhua&$&$ ]]> 6890926 2010-02-08 19:58:29 &$Source: Xinhua&$&$ ]]> 6890894 2010-02-08 17:54:06 &$Source: Xinhua&$&$ ]]> 6890860 2010-02-08 17:38:32 &$A huge domestic market becomes China's unique advantage &$&$ "It is necessary to enhance the quality and level of foreign investment in China," said Chen Deming, the minister of commerce, while arranging the 2010 work. China's 2009 actual foreign investment totaled 90.03 billion U.S. dollars, ranking second in the world. According to the Global Investment Trends Monitor Report for 2009 issued by the United Nations Conference on Trade and Development (UNCTAD) January 19, ove ...]]> &$A huge domestic market becomes China's unique advantage &$&$ "It is necessary to enhance the quality and level of foreign investment in China," said Chen Deming, the minister of commerce, while arranging the 2010 work. China's 2009 actual foreign investment totaled 90.03 billion U.S. dollars, ranking second in the world. According to the Global Investment Trends Monitor Report for 2009 issued by the United Nations Conference on Trade and Development (UNCTAD) January 19, over recent years China's position and role in global foreign investment has continued to grow. Between 2005 and 2006, China took fourth position among the major global FDI destination countries, climbed to the third position in 2008, and has reached the second position in 2009, only behind the U.S. According to the results of a survey by the German Chamber of Commerce, 80 percent of surveyed German enterprises in China said the huge domestic market is the most important reason behind their investment in China. The 2009 China Business Report released by the American Chamber of Commerce in Shanghai at the end of 2009 shows that U.S. enterprises view China as their major investment destination country. 64 percent of the enterprises plan to further their investment in China. Meanwhile, U.S. companies are attaching growing importance to serving China's increasing domestic market and expanding their business in the second and third-tier cities. &$&$China's intellectual factor plays a more important role&$&$ In recent years, more multinational companies have established research centers in China, and China has become a strategic center for more multinational enterprises. Zhang Yaqin, senior global vice president of Microsoft and chairman of the Microsoft Asian Pacific R&D Group, says that multinational enterprises have stepped into a new stage in China. In the past, multinational enterprises regarded China as a marketing center. In the second stage, they regarded China as a R&D center. But now, China has become the strategic center for many multinational companies. In other words, when the boards of directors of multinational companies are making global strategic decisions, China will be a very important element to consider. Zhang regards Microsoft's division in China as Microsoft's second headquarters. "We can say that it is a smaller edition of Microsoft in the U.S. It has all the links including technology research, product development, marketing, investment and service outsourcing. It is not only a branch of a foreign enterprise, but also an integrated enterprise. A lot of Microsoft's strategic decisions were made in China. First, it does research and development of a technology, then changes the technology into products and then launches the products in the Chinese market, and then in the U.S. market or markets of other countries." Objectively, China's intellectual advantage is also accelerating the change of foreign investment types and realms. Foreign investments have already started to shift from only in labor-intensive industries to new high-tech industries and tertiary industries. &$&$Potential investments in new industries are quite great&$&$ Foreign investments are shifting not only from the entire world to China, but also from China's eastern regions to western regions and from labor-intensive industries to new high-tech industries and the tertiary industries. As China's "development of the western regions" stra ]]> 6890858 2010-02-08 17:18:06 &$Source: Xinhua&$&$ ]]> 6890858 2010-02-08 17:18:06 &$Source: Xinhua&$&$ ]]> 6890853 2010-02-08 17:05:03 &$Source: Xinhua&$&$ ...]]> &$Source: Xinhua&$&$ ]]> 6890836 2010-02-08 16:55:01 &$Source: Xinhua&$&$ ...]]> &$Source: Xinhua&$&$ ]]> 6890733 2010-02-08 16:22:33 &$By People's Daily Online&$&$ ]]> 6890730 2010-02-08 16:17:29 &$By People's Daily Online&$&$ ]]> 6890722 2010-02-08 16:12:37 &$Source: Xinhua&$&$ ]]> 6890722 2010-02-08 16:12:37 &$Source: Xinhua&$&$ ]]> 6890719 2010-02-08 16:11:11 &$Source: Xinhua&$&$ ]]> 6890719 2010-02-08 16:11:11 &$Source: Xinhua&$&$ ]]> 6890717 2010-02-08 16:09:16 &$Source: Xinhua&$&$ ]]> 6890717 2010-02-08 16:09:16 &$Source: Xinhua&$&$ ]]> 6890641 2010-02-08 15:04:20 &$By People's Daily Online&$&$ ]]> 6890639 2010-02-08 15:04:28 &$Source: Xinhua&$&$ ]]> 6890639 2010-02-08 15:04:28 &$Source: Xinhua&$&$ ]]> 6890555 2010-02-08 14:13:02 6890555 2010-02-08 14:13:02 6890527 2010-02-08 13:48:37 &$By People's Daily Online&$&$ ]]> 6890518 2010-02-08 13:46:23 &$By People's Daily Online&$&$ ]]> 6890516 2010-02-08 13:44:31 &$Dongfeng had no self-developed cars until last year, when it launched the Dongfeng Fengshen S30, a mid-class model that sold a total of 22,000 units from July to December. [China Daily] &$&$ Dongfeng Motor Corp, China's third-largest automaker, almost doubled its profit last year as China became the largest vehicle market in the world and domestic sales boomed. The parent company of Hong Kong-listed Dongfe ...]]> &$Dongfeng had no self-developed cars until last year, when it launched the Dongfeng Fengshen S30, a mid-class model that sold a total of 22,000 units from July to December. [China Daily] &$&$ Dongfeng Motor Corp, China's third-largest automaker, almost doubled its profit last year as China became the largest vehicle market in the world and domestic sales boomed. The parent company of Hong Kong-listed Dongfeng Motor Group Co Ltd sold a total of 1.9 million vehicles last year, a 43.6 percent surge from 2008, generating revenues that rose 30 percent to 256.4 billion yuan. With government incentives extended into 2010 and Dongfeng's potential in lower-tier cities, the company has set a sales goal of 2.22 million units this year, up 17 percent from 2009. Dongfeng Motor Corp has long been the leading domestic truck maker. Its two commercial vehicle subsidiaries had combined sales of more than 400,000 units last year to rank No 1 nationally in the heavy, medium-duty and pickup truck segments. Self-developed cars Yet the company had no self-developed sedans until last year, when it launched the Dongfeng Fengshen S30, a mid-class model that sold a total of 22,000 units from July to December. "That's one small step for the Fengshen S30, one giant leap for the whole enterprise," said Xu Ping, president of Dongfeng Motor Corp. Following the encouraging start, the company recently rolled out a second new model, the Dongfeng Fengshen H30 hatchback, using the same undercarriage as the S30. The company expects combined sales of the two models to reach 60,000 units in 2010. It also plans to offer a hybrid model as well as a crossover this year, according to earlier media reports. Joint ventures The vast majority of Dongfeng's passenger vehicle sales are from its four joint ventures with foreign partners. Its joint venture with Nissan Motor posted the biggest sales volume among the four as its 2009 sales jumped 48 percent to 518,000 units. Four models - the Teana, Sylphy, Tiida and Livina - proved to be especially successful last year, each seeing monthly sales of over 10,000 units. The Sino-Japanese partnership now has two passenger car plants in China with combined capacity of about 460,000 units. It also has a 240,000-unit facility under construction that will be completed by 2012. Aiming to move 600,000 cars this year, the company maximizing capacity at its existing plants by working three shifts a day and modernizing equipment. Dongfeng Honda Automobile Co, a joint venture between Dongfeng Motor Corp and Japan's Honda Motor, is also straining to meet demand. Last year, it sold a record 210,600 cars made at its plant designed for an annual output of 200,000 units. The joint venture began building a second plant last month and will put it into operation in 2012. Until then, it says the existing plant will be further streamlined to produce 240,000 cars this year. The CR-V SUV was the star of Dongfeng Honda last year. Its sales of 105,233 units comprised almost half of the joint venture's total. Another Dongfeng partnership, with French carmaker PSA Peugeot-Citroen, also enjoyed rapid growth last year, with sales surging 52 percent to 270,000 vehicles. The operation produces the Dongfeng Citroen and Dongfeng Peugeot, combined sales of which are&nbs ]]> 6890514 2010-02-08 13:41:38 &$Source: Chinadaily.com.cn&$&$ ]]> 6890512 2010-02-08 13:40:45 &$Source: China Daily&$&$ ]]> 6890509 2010-02-08 13:39:39 6890508 2010-02-08 13:38:18 &$Lou Jiwei, chairman of China Investment Corp, attending the Asian Financial Forum in Hong Kong last month. The sovereign wealth fund, based in Beijing, has reportedly begun stockpiling cash in US money-market funds. [Agencies] &$&$ China Investment Corp (CIC), a $300 billion sovereign wealth fund based in Beijing, filed its first quarterly disclosure on US equity holdings, reporting that it owned stocks value ...]]> &$Lou Jiwei, chairman of China Investment Corp, attending the Asian Financial Forum in Hong Kong last month. The sovereign wealth fund, based in Beijing, has reportedly begun stockpiling cash in US money-market funds. [Agencies] &$&$ China Investment Corp (CIC), a $300 billion sovereign wealth fund based in Beijing, filed its first quarterly disclosure on US equity holdings, reporting that it owned stocks valued at $9.63 billion as of Dec 31. The fund last Friday filed what's known as a Form 13F, which the US Securities and Exchange Commission requires from all institutional investment managers with more than $100 million of US equities. Other sovereign wealth funds have begun filing such reports amid calls for more disclosure. CIC, created in September 2007 through a $200 billion allocation of China's reserves, began stockpiling cash in US money-market funds after initial investments in companies such as Morgan Stanley and BlackRock Inc declined in value. The filing last Friday shows that CIC has resumed investing in US equities, primarily through index funds rather than individual stocks. "China is diversifying among different US dollar-denominated assets," said Rachel Ziemba, a senior analyst at Roubini Global Economics LLC in New York, which researches sovereign wealth funds. "What we are seeing is a way to quickly gain exposure to these markets rather than doing a lot of due diligence" on individual companies. China, the biggest foreign holder of US government debt, trimmed its holdings of Treasuries by $9.3 billion to about $789.6 billion during November, the largest cut in five months. CIC invested about $10 billion in commodity producers worldwide during the second half of last year, according to data compiled by Bloomberg. The SEC requires managers to report all holdings in stocks that trade on US exchanges, as well as options and convertible debt. The reports must be filed within 45 days of the end of each quarter. &$&$Morgan Stanley, BlackRock&$&$ According to CIC's report, three previously disclosed investments now comprise about 63 percent of its US holdings. These include a $1.77 billion stake in Morgan Stanley, the New York-based securities firm; a $3.54 billion interest in Teck Resources Ltd, Canada's largest diversified mining company; and $714 million of stock in BlackRock, a New York firm that is the world's largest money manager. The filing shows that CIC has been buying exchange-traded funds that track stock indexes, economic sectors and commodity prices, such as the SPDR Gold Trust. Its ETF holdings, including about 4.1 million shares in each of the iShares S&P Global Materials Index Fund and the Energy Select Sector SPDR Fund, had a market value of $2.4 billion on Dec 31, according to the filing. That equaled about 25 percent of assets reported in the Form 13F. The Chinese fund disclosed that it made investments valued at $31 million or less in banks including San Francisco-based Wells Fargo & Co, Citigroup Inc in New York and Bank of America Corp, based in Charlotte, North Carolina. The wealth fund also owned $11 million of equity units issued by New York-based insurer American International Group Inc in July 2007. CIC in December 2007 agreed to buy $5.6 billion of Morgan Stanley equity units that are currently convertible into 116 million&n ]]> 6890489 2010-02-08 13:36:09 &$By People's Daily Online&$&$ ]]> 6890474 2010-02-08 13:23:09 &$Source: Xinhua&$&$ ]]> 6890473 2010-02-08 13:22:50 &$Source: Xinhua&$&$ ]]> 6890340 2010-02-08 11:05:51 &$Source: Xinhua&$&$ ]]> 6890340 2010-02-08 11:05:51 &$Source: Xinhua&$&$ ]]> 6890339 2010-02-08 11:05:19 &$By People's Daily Online&$&$ ]]> 6890337 2010-02-08 11:04:51 &$Source: Xinhua&$&$ ]]> 6890337 2010-02-08 11:04:51 &$Source: Xinhua&$&$ ]]> 6890327 2010-02-08 11:00:39 &$By People's Daily Online&$&$ ]]> 6890324 2010-02-08 10:59:28 &$By People's Daily Online&$&$ ]]> 6890256 2010-02-08 10:27:31 6890130 2010-02-08 09:41:56 6890123 2010-02-08 09:41:10 &$Source: Xinhua&$&$ ]]> 6890123 2010-02-08 09:41:10 &$Source: Xinhua&$&$ ]]> 6890120 2010-02-08 09:40:35 &$Source: Xinhua&$&$ ]]> 6890120 2010-02-08 09:40:35 &$Source: Xinhua&$&$ ]]> 6890069 2010-02-08 09:19:21 &$Source:Chinadaily.com&$&$ ]]> 6889961 2010-02-08 08:54:16 &$Source: Global Times/Agencies&$&$ ...]]> &$Source: Global Times/Agencies&$&$ ]]> 6889958 2010-02-08 08:53:29 &$Source: Global Times/Age ...]]> &$Source: Global Times/Agencies&$&$ ]]> 6889846 2010-02-08 08:23:28 &$Source: Xinhua&$&$ ]]> 6889846 2010-02-08 08:23:28 &$Source: Xinhua&$&$ ]]> 6889841 2010-02-08 08:22:17 &$By Chen Xiaomin&$&$ &$&$Source: Global Times&$&$ ]]> 6889835 2010-02-08 13:23:51 &$【1】 &$&$【2】 &$ &$ &$&$ ]]> 6889827 2010-02-08 08:19:46 &$Source: Global Times/Agencies&$&$ ]]> 6889822 2010-02-08 08:18:54