Hourly News updated 17:00 2011/10/16

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Premier Wen Jiabao has pledged more support measures for exporters including "a basically stable exchange rate" for Renminbi to stabilize foreign trade in the world's second largest economy amidst new external uncertainties⁵. 

Wen Jiabao made the remarks during an inspection⁶ tour of Guangzhou, the host city of the ongoing⁷ 110th China Import and Export Fair, also known as the Canton Fair, in the southern province of Guangdong. 

He said the government will take a package of measures and work with the foreign trade sector⁸ to plow⁹ through the difficulty and foster further growth of the economy.

 

China calls for joint¹⁰ effort to deal with global economic difficulties 

China says faced with new problems such as sovereign debt and downward risks, all countries should work together to enhance coordination¹¹ on macroeconomic policies to guard economic growth and financial stability with respective effort.

Chinese delegates attending the G20 Financial Ministers Meeting in Paris say the global economy is challenged by new difficulties which require all countries to join hands in fighting all sorts of protectionism either in trade or in investment.

China suggests that leading developed countries should ensure economic recovery and financial stability in short term, while in the medium term enhance fiscal¹² solidarity¹³, accelerate structural¹⁴ reform and refrain the negative impact of macroeconomic policies. 

China also stresses that the emerging countries should make their own contribution to tackle the problems.

 

China surpasses U.S. as EU's top trade partner: MOC 

The Ministry¹⁵ of Commerce says trade between China and the European Union (EU) totaled over 35 billion euros (49.4 billion U.S. dollars) in July, allowing China to overtake the United States as the EU's largest trade partner.

The overall value of China-EU trade in July exceeded that of the EU and the United States by 800 million euros, accounting¹⁶ for 13.4 percent of the region's total imports and exports, according to data released by the EU's statistics office. 

Meanwhile, China remained the EU's second largest export market.

 

First batch¹⁷ of China's flood relief materials arrive in Cambodia 

The first batch of China's emergency relief aids for Cambodian flood-affected people has arrived in Cambodia.

The relief aids included more than 30 types of medications, medical supplies and equipment, mosquito nets, blankets, towels and other relief materials.

The aids are part of the emergency humanitarian¹⁸ assistance worth 50 million yuan (7.87 million U.S. dollars) to Cambodia for flood relief efforts. The second batch of the relief assistance will arrive there on Sunday evening.

 

"Occupy Wall Street" protest spreads to London 

"Occupy Wall Street" movement has spread to London as thousands of protestors started to gather outside St Paul's Cathedral in central London from Saturday noon.

The protestors originally planned to assemble in front of St Paul's Cathedral and then march towards the City of London to "occupy" the Square Mile. 

The "Occupy London" website says the movement is aimed at addressing social and economic injustice¹⁹ in Britain and beyond, as "part of a global movement for real democracy."

 

Missing pilot confirmed dead after plane plummets²⁰ at China air show 

A pilot who went missing after his plane crashed during an air show in northwest China has been confirmed dead.

The announcement was made by an official from the Yanliang National Aviation High-tech²¹ Industrial Base, during the International General Aviation Convention 2011 in Xi'an, capital of Shaanxi Province. 

A plane crashed to the ground after finishing its performance in Pucheng County, where a three-day air show is being staged for an ongoing aviation convention. 

The dead pilot was seated in the front of the plane, while the plane's second pilot survived by ejecting from the plane before the crash.

There have been no reports of deaths on the ground in connection with the crash.

 

China's CNOOC says new oil leak in Bohai Bay cleaned up 

China's largest offshore²² oil producer, CNOOC Ltd., says it has cleaned up the oil sheen on the sea surface in the Bohai Bay in north China. 

The latest oil leak occurred yesterday near the Jinzhou 9-3 West oilfield operated by a subsidiary of CNOOC in the Liaodong Bay off northeast China.

CNOOC says the oil spill was caused by the leak from a subsea connecting pipeline²³ damaged by a work vessel²⁴ during its operations.

Following the cleanup, the State Oceanic Administration (SOA) called off a level-three emergency response that it initiated²⁵ after the spill.

 

China Southern receives first Airbus A380 jumbo jet 

China Southern Airlines has received Airbus' first delivery of A380 jumbo jet to finalize²⁶ the preparation for its debut²⁷ in the world's fastest growing aviation market. 

The A380 jumbo jet has landed at the Beijing Capital International Airport and will start its maiden²⁸ voyage from Beijing to Guangzhou, the provincial²⁹ capital of southern Guangdong Province tomorrow.

It is Airbus' first out of five A380 jets to be delivered by Airbus to China Southern. 

China Southern Airlines is the first operator of the A380 in China and the seventh globally.

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