Representatives from different schools of wushu, a traditional Chinese martial art, demonstrate their skills on the grasslands near Tianshan Mountain for a kung fu show on Aug 6. They were criticized online for putting on a show rather than popularizing martial arts. Ma Yuan / for China Daily

Trade

EU solar deal hailed as blueprint

The European Union's endorsement of an agreement that settled a dispute with China over solar panel sales in the EU should be credited mostly to the Chinese government's "great concerns" about the matter and "efficient communication" with the EU, Chinese trade experts said.

The settlement also sends a strong signal about Sino-EU economic and trade ties, avoiding the possibility of a trade war between the major economies worldwide, and setting a good example or how the two sides can solve future trade disagreements through consultation and communication, they said.

On Aug 2 the European Commission, the EU's executive arm, endorsed a negotiated settlement with China that sets a minimum price and a volume limit on EU imports of Chinese solar panels until 2015.

The agreement took effect on Aug 6. Chinese manufacturers that agree to it will avoid punitive duties that the 28-nation bloc had planned to impose.

The European Commission says an overwhelming majority of member states voted in favor of the deal and no member state voted against it.

US urged to ease exports ban

Chinese experts are urging the United States to loosen restrictions on high-tech exports to China to balance bilateral trade and spur the US economic recovery.

The call comes as the US has pledged to expand its shipments to China and to reclaim 10 percent of China's total imports by 2015.

Although China remained the US' third-largest export market last year, buying goods from the US worth $109 billion (82.2 billion euros), Washington must fight harder to increase its share of that total, the US-China Business Council said in two reports on Aug 1.

From 2003 to 2012, US exports to China rose by 294 percent, up nearly $81 billion. But the US share in China's total imports fell to 7 percent from 10 percent in 2000 and it "significantly" trails the European Union, Japan and South Korea in exports to the country.

Infrastructure

Overseas investment welcome in Beijing

Foreign investors are welcome to finance the capital's infrastructure construction projects.

Six areas of Beijing's infrastructure construction will be open to overseas and domestic investors this year, said Peng Bo, a spokesman for the Beijing Commission of Reform and Development.

The six areas include rail transport, city roads, the rail transit complex, drainage treatment, garbage disposal and heat supply in townships.

A total of 126 projects will need investment of 338 billion yuan ($55.15 billion; 41.63 billion euros), of which 130 billion yuan will be channeled from social capital, according to a plan released recently by the commission at the 5th Beijing Investment Fair.

The first phase of the plan has 27 projects, which need an investment of 68 billion yuan from social capital, said Yang Xuhui, a commissioner of the economic planning body.

The second phase, with 99 other projects, will call for investment from social capital later this year, Yang said.

Private companies will enjoy the same policies in terms of land, price, investment return and supporting facilities as their state-owned counterparts, according to a statement from the commission.

Tourism

More visa-free transit tourists in Beijing

Beijing says it will step up promotion of its 72-hour visa-free policy, aiming to attract more foreign transit tourists following a drop in arrivals for overnight stays in the first half of the year.

About 2.14 million tourists visited the capital during the six months, a 14.3 percent decline compared with the corresponding period last year, according to the Beijing statistics department.

China Daily

(China Daily European Weekly 08/09/2013 page3)