China's First Hybrid Sedan

China's first self-produced hybrid-power sedan, the Jiexun-HEV, rolled off the production line at Chang'an Automobile, China's fourth largest auto enterprise. Xu Liuping, President of Chang'an Automobile, said the price of the new car would be significantly lower than equivalent imported models.

The new sedan was developed using China's self-owned intellectual property rights in terms of the engine, hybrid power system and the car as a whole. Development of the car, which has taken six years, has been part of a state backed hi-tech plan.

Xu said the car adopted a fuel-battery hybrid technology and reduced fuel consumption by more than 20 percent compared with traditional cars. Emission levels also meet the state's standard IV, the highest standard in China.

Against Fast Appreciation of Renminbi

Chinese Vice Commerce Minister Chen Deming said on the sidelines of the third China-U.S. Strategic Economic Dialogue in Beijing that too rapid appreciation of the Renminbi would cause fluctuations in the Chinese economy that would not be positive for the world.

He said China was not against renminbi appreciation but did not want it to occur too rapidly, as this would not suit China's conditions.

Chen said of the Chinese currency would not help ease the trade imbalance between China and the United States.

By December 12, the renminbi had appreciated about 11 percent since China de-pegged it from the dollar in July 2005, but the trade surplus had not shrunk. The latest figures from Chinese Customs show that between January and November, China-U.S. trade expanded 15.7 percent from the same period of last year.

Lasting Boom in Car Sales

Sales of passenger cars made in China soared 22.83 percent annually to 5.66 million units in the first 11 months of 2007, the China Association of Automobile Manufacturers said.

During the period, sales of sedans reached 4.24 million units, up 24.32 percent from a year earlier, according to the association.

Meanwhile, sales of multi-purpose vehicles hit 203,700 units, up 21.11 percent and sales of sport utility vehicles were 319,300 units, up 55.77 percent.

The top 10 sedan sellers include FAW Volkswagen, Shanghai Volkswagen and Shanghai General Motors. Between January-November, they sold a total 2.76 million sedans, accounting for 65 percent of the total sales.

Beauty of Sound

The world's leading sound equipment developer Bose Corporation has unveiled three new products globally which are based on the company's latest technological innovation.

The three products, including the MusicMonitor, the SoundDock digital music system and the Lifestyle V20/V30 home theater system, were displayed for the first time at a product-launch press conference at the Lane Crawford Shopping Center in Financial Street, Beijing.

Along with the new product launch, a new Bose store was opened at the Lane Crawford Shopping Center. Herbert Batchelder, Chief Financial Officer of the Bose Corporation cut the ribbon for the new store opening ceremony and made a commitment to continuing providing first-class sound experience for Chinese customers.

Trade Fair Prepared

A forum on enhancing the branding value of the China (Fujian) Technology and Projects Fair has been held in Beijing. Participants of the forum include seven members of the Chinese Academy of Sciences and the Chinese Academy of Engineering.

The annual fair, which has been held every June for five years since 2003, has successfully found business partners for over 15,000 projects. Participants of these five sessions are researchers and businessmen from over 30 countries and regions. The sponsors of this fair are 10 ministries and Fujian Provincial Government.