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China Daily 0807 C2.Indd 2 prime TUESDAY, AUGUST 7, 2012 CHINA DAILY QUOTABLE ‘“It‘ is reasonable and legal FDI worries ‘unfounded’ to set up an armed forces department in the urban management bureau.” foreign investment,’’ Zhang said. “China’s strong competitiveness”. Some multinationals are and consumption is growing.’’ Foreign fi rms still fi nd domestic Th e Obama administration As Chinese labor costs rise, moving their production from China’s FDI in June declined AUTHORITIES IN THE HAN- announced last year that it production will gradually swing China to low-cost countries in by 6.9 percent year-on-year to YANG DISTRICT OF WUHAN, market attractive, expert says would set up a national pro- back. Big names planning to Southeast Asia. $12 billion, according to the capital of Hubei province, react- motion agency to attract more move some of their production Adidas said last month it will ministry, the largest drop since ing to a heated discussion arising By DING QINGFEN opment and Reform Commis- foreign investment, especially back to the US include General shut down the company’s only December and compares with from the establishment of an [email protected] armed forces department for sion said China will prioritize from China. Electric and Caterpillar. fully-owned apparel factory in a 0.05 percent gain in May aft er urban management, or cheng- the quality of foreign invest- Th e US is a major investor in A report by the Boston Con- Suzhou, Jiangsu province, which a six-month slide. guan, on Saturday. The armed US investment in China may ment rather than the quantity. China, and during the past six sulting Group said the return of employs 160 workers, at the end Shen Danyang, Ministry forces department was set up on continue to drop, but not by Direct investment from the months China’s FDI has been major US companies will help of October. This comes after of Commerce spokesman, Wednesday, Army Day in China, large amounts, a commerce US to China dropped by 3.2 declining. create 3 million jobs in the US Nike closed its only shoe factory blamed the sluggish global local media reported. The report offi cial predicted. percent year-on-year to $1.63 But Zhang said the impact by 2020. in China, also in Suzhou, in 2009. economy and rising domestic has become a hot topic among “China is not worried about billion in the fi rst half of 2012, would be “limited” in the short But the motives of US Presi- But Zhang defended China costs for the decline. netizens. the massive transfer of facto- according to the ministry. term and fears were unfounded. dent Barack Obama have come as a top global investment des- But he insisted the full year’s ries by multinational compa- Foreign direct investment in “Sharp declines of US invest- under scrutiny. tination. FDI would “stabilize”, as eco- nies to neighboring countries China decreased by 3 percent, ment into China will not hap- Columnist Edward Luce said “China’s attractiveness to nomic growth picks up in the THE NUMBER as the quality of foreign invest- in the same period, from a year pen in the next year or two.” in a commentary for the Finan- foreign companies remains second half. ment will improve,” Zhang earlier to $59.1 billion. Hu Yifan, chief economist cial Times that “it (reshoring to strong”, despite the slowdown Shen also said China’s attrac- Xiangchen, director of the And Washington’s attempts with Haitong International the US) smacked of election- and rising costs, Zhang said. tiveness will be strong in the 38,000 Department of Policy Research to lure back investment will Securities, wrote in a Wall Street eering. Most of his (Obama’s) Hu, from Haitong Interna- long term, citing huge domestic at the Ministry of Commerce, have a limited eff ect, he said. Journal column that “the reshor- proposals, including a slightly tional Securities, agreed. consumption, China’s efforts YUAN told China Daily. “Th e momentum will prob- ing of manufacturing operations lower tax rate for domestic “China’s competitiveness is, to crack down on the infringe- In a newly released guide- ably continue in the following to the US would exert an impact manufacturers, looked gim- and will continue to be, strong as ment of intellectual property The average spending per household in China was 38,000 line for the 12th Five-Year Plan months with the ‘Select USA’ on China, but the impact should micky and stood no chance of labor costs are still comparatively rights and the accelerating pro- yuan ($5,960) in 2011, an (2011-15), the National Devel- program that aims to draw back be very small,” Hu wrote, citing enactment before 2013”. low, productivity is improving cess of industrialization. increase of 5,710 yuan over 2010, according to a report released on Sunday by the Institute of Social Science Survey of Peking Uni- versity. The expenditure on food spending for each household in 2011 saw an increase of 2,287 around china yuan, accounting for 40 percent of the average spending increase BEIJING of the year. Fangshan district, according to a Ex-minister accused statement by the offi ce on Sunday. Th e statement did not mention of discipline breach when the body was found. ON THE WEB Former railway minister Liu Zhi- Beijing city government raised jun has been accused of violating the death toll to 77 from 37 on July Highlights from six Party disciplines, sources with 26, and the number was not updat- chinadaily.com.cn the Ministry of Railways said on ed until Th ursday, when another Sunday, indicating the investigation body was found in a pond near into Liu’s case has fi nished, infor- Dongguan village in Fangshan. mation portal caixin.com reported on Sunday. GUANGXI Internal investigation found Liu was involved in economic crimes Three buried in as well as “political and moral lime-pit collapse problems”, according to the report. Th ree workers were buried Liu had taken advantage of his when a lime pit collapsed in South position to help Ding Shumiao, China’s Guangxi Zhuang autono- board chairwoman of Beijing mous region on Monday aft ernoon, Boyou Investment Management rescuers said. Corp, win the bidding for a 3 Th e incident happened at 4 pm billion-yuan ($470 million) project, in a lime factory in Yufeng district and he made huge illegal profi ts in Liuzhou, local fi refi ghters said. from several railway projects, the Th e buried workers have a slim report said. chance of survival, and another col- lapse could occur, threatening the Addicts need to lives of rescuers, according to the Pictures: A store in Wuhan has fi refi ghters who were trying to fi g- paved a 7-meter walkway with quit drugs to drive ure out a way to rescue the buried 200 pure-gold nuggets valued Drivers who don’t give up their workers. at nearly 70 million yuan ($10.9 addiction to narcotics should have million) as part of a jewelry festi- their driving licenses revoked Tourist bus plunge val. China is the world’s biggest within 30 days, the Ministry of producer and consumer of gold Public Security said in a statement kills 1, injures 37 products. on Monday. A tourist bus fell into a ravine in Th e ministry has asked public the Guangxi Zhuang autonomous Video: Chinese walker Chen security departments to check region on Sunday, killing one and Ding, who won gold in the 20km information on Chinese drivers, injuring 37 others on board, local event and set a new world record and any driver addicted to drugs police said on Monday. on Saturday, a day before his should voluntarily give up his or Th e bus, carrying 38 people, 20th birthday, talks about how her driving license, the statement broke through the road barrier and ART OF STRETCHING AND BENDING he almost quit the sport due to said. plunged into the ravine near the injury. entrance of a tunnel in Yangshuo PHOTO BY ZHANG MENG / XINHUA Video: Michael Phelps, 27, the Ministry launches county in Guilin about 3:50 pm, most decorated Olympian of all police said. One of the critically One hundred chefs show their noodle-making skills at the opening ceremony of a hand-made time, talks about the future after health TV channel injured died in hospital early on ending his swimming career. China’s top health authority has Monday, they said. noodle festival in Lanzhou, Northwest China’s Gansu province, on Monday. Th e festival will Th e bus was heading for Shen- Buzzword: A brown-bag launched a TV channel, China last for 21 days. zhen from the popular tourist seminar is a training session Health Television, to promote health education and disease pre- destination Guilin, police said. held over a lunch break. Meals TAIWAN of the two agreements, a review of LIAONING vention. Th e cause of the accident is under Result of bomb brought from home or takeaway the implementation of past agree- Th e new channel is expected to investigation. Cross-Straits Drivers shamed for restaurants are often packed in ments and a discussion of future inquiry issued reach more than 200 million peo- brown bags. negotiators to meet topics for their talks. refusing customers ple in 70 cities on the mainland by GANSU An investigation has found that Culture: New guidelines from Chief negotiators from the a man identifi ed as a bomber in an Transport authorities in the end of this year, Health Min- YUNNAN the State Administration of Ra- ister Chen Zhu said at CHTV’s Mudslide victims Chinese mainland and Taiwan will explosion that killed four people Shenyang, Liaoning province, on dio, Film and Television aimed at launch on Monday.
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