Crude Deal

China signed a deal with Russia on February 17 in Beijing that would secure annual oil supplies of 15 million tons to China from Russia for the next 20 years, according to a report in China Daily.

HOT DESIGNS The fourth China International Automotive Aftermarket Industry Fair is held on February 16-18 in Beijing. More than 600 domestic and overseas companies display the latest automobiles, auto parts and auto-refitting products at the show(LUO WEI)

In return, China will lend $25 billion to two Russian firms that are struggling with the financial downturn and plummeting oil prices.

According to an agreement reached late last year, the crude will be supplied through a long-awaited extension of Russia's Siberia-Pacific coast pipeline to China.

"We hope the two sides will give full play to the bilateral energy negotiation mechanism to promote energy cooperation and score substantial outcomes," said China's Vice Premier Wang Qishan, at the signing ceremony.

Job Efforts

The All-China Federation of Trade Unions announced on February 17 that the country's trade unions are planning to aid more than 10 million migrant workers this year.

This move was aimed at easing the pain of migrant workers forced out of jobs by the economic slowdown.

The federation pledged to assist about 5 million migrant workers with job hunting and vocational training, and help protect legal rights or provide living assistance to another 5 million.

"The trade unions across the country will also vouch for migrant workers on a trial basis to secure small loans and also help organize various job fairs for them," said Sun Chunlan, the federation's Vice Chairwoman, in a statement.

Green Commitment

The Ministry of Finance announced on February 17 that the government has launched a pilot program to subsidize energy-efficient vehicles in the public transport sector in 13 cities, including Beijing and Shanghai.