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AmCham White Paper

The US should focus on enhancing its overall economic competitiveness instead of seeking protectionism to combat its economic slowdown, said the latest 2008 White Paper: American Business in China, released by the American Chamber of Commerce (AmCham) China, AmCham Shanghai and AmCham South China.

And, it should not press for yuan appreciation to reduce its trade deficit with China since the value of the yuan is not the fundamental cause of the deficit, said the White Paper.

The two countries should make "defending and preserving the openness of the trade relationship a core commitment", the White Paper said. "Instances of cooperation between China and US far exceed instances of dispute."

China's unemployment

China had a registered unemployed population of 8.25 million in urban areas at the end of the first quarter this year, according to latest data the Ministry of Human Resources and Social Security.

The nation's urban registered unemployment ratio was 4 percent at the end of the quarter. Between January and March, 3.03 million urbanites found a job nationwide, or 30 percent of the annual goal of 10 million. Meanwhile, 1.28 million layoffs were re-employed, or 26 percent of the annual target of 5 million.

Growth prediction

The Chinese Academy of Social Sciences (CASS) predicted a 10.7 percent growth in the country's gross domestic product this year, though it said the speed would be slower compared with the previous year.

The added value of the agricultural sector would increase by 3.2 percent, and that of the industrial and the service industries would be 12.2 percent and 10.9 percent respectively, according to a report released by CASS.

The fixed assets investment would hit 17.03 trillion yuan, up 19.1 percent year-on-year, still significantly higher than the growth of GDP and consumer price index.

Grain shipments

China will accelerate shipment of grain from the grain-rich northeast to the country's south to ease supply imbalances and stem price rises, the Ministry of Railways said.

The ministry has ordered railway authorities in the northeast provinces to improve efficiency and send 10 million tons of grains out of the northeast to the south from May 1 to June 30. The ministry will coordinate with departments concerned to prioritize grain shipment, said Liu Zhijun, the minister of railways.

Olympic communications

China Netcom, a telecommunications partner for 2008 Beijing Olympics, said it has deployed nearly 200 km of fiber-optic cables in Olympics venues and installed nearly 20,000 telephone switching systems in the Olympic venues. More than 2,000 technicians from Netcom will serve the upcoming Olympics.

The firm said it had upgraded its technologies and infrastructure to prepare for the games, and developed a card-based authentication system for broadband access. With a single IC card, users can access broadband Internet in both Olympics venues and pressrooms without user names and passwords, which could provide great convenience to officials, athletes and the media.

"We are aiming to build the 2008 Beijing Olympics into a truly broadband game," said Zhang Chunjiang, general manager of China Network Communication Group Corporation.

(China Daily 05/03/2008 page2)