EXPORT RECOVERY: The second phase of the 107th China Import and Export Fair (April 23-27) witnessed export deals worth $8.46 billion. The biannual fair, known as the Canton Fair and held each April and October, is considered a barometer for the country's import and export (LU HANXIN)

Trade Friction

China's Ministry of Commerce on April 28 ruled broiler chicken products imported from the United States were subsidized, and would be levied from 3.8 percent to 31.4 percent in anti-subsidy duties.

U.S. companies exporting broiler chicken products which had responded to the Chinese investigation would face duties of 3.8-11.2 percent, while those that had not would be subject to a 31.4-percent tariff, said the ministry in an online statement.

The investigation results showed U.S. broiler chicken exporters had received government subsidies, which had caused substantial losses to Chinese companies, the statement said.

Supporting Employment

China's urban unemployment rate fell by 0.1 percentage point to 4.2 percent by the end of March, compared with the end of last year, said the Ministry of Human Resources and Social Security (MOHRSS) at a recent press conference.

A total of 2.89 million new jobs were created in urban areas in the first quarter of 2010, accounting for 32 percent of the full-year job creation target of 9 million, said Yin Chengji, spokesman for the MOHRSS.

Strong economic growth and recovering corporate financial health are shoring up the job market this year, said Yin.

Nuclear-Powered Hainan

China kicked off construction of a large nuclear power plant in south China's Hainan Province on April 25.

The project, with an estimated investment of 19 billion yuan ($2.78 billion), is located in Changjiang, a county in the northwestern part of Hainan.

It will consist of two pressurized water reactors, each with a capacity of 650,000 kw. The first reactor will be completed and connected to the grid by the end of 2014.

China National Nuclear Corp. and China Huaneng Group, will jointly finance and develop the project.

VW's China Plan

Europe's biggest automaker Volkswagen AG (VW) will build two plants in China as part of a 1.6-billion-euro ($2.2 billion) plan to expand in the country.

The German carmaker, which currently operates in China through two joint ventures, is geared up to sell 2 million vehicles a year in the world's biggest car market.

"Growth in China has surpassed all expectations," said Martin Winterkorn, CEO of VW on April 26.

The 1.6-billion-euro plan brings Volkswagen's total China investment for the next three years to 6 billion euros ($8.25 billion).

Eco-Tech Forum

The 2010 China-Pacific Island Countries Forum on Eco-Tech Cooperation convened for its two-day forum on April 22-23 in Beijing.

With a theme of "promoting new energy and addressing climate change," the forum brought together more than 180 government officials and entrepreneurs from China and Pacific island countries. More importantly, it provided a valuable platform for communication and cooperation. A number of deals between companies from both sides in terms of new energy, trade, tourism and fishing took place at the forum.

It is important for countries in the pacific region to join efforts in tackling climate change and promoting the economies, said Jusuf Wanad, President of the Pacific Economic Cooperation Council.