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TRADE WARS
US, China talk trade amid transitions
by Staff Writers
Washington (AFP) Dec 19, 2012


Chinese set to invest in Taiwan port for first time
Taipei (AFP) Dec 19, 2012 - Taiwan's Yang Ming Marine said Wednesday it has agreed to sell a Chinese consortium a 30 percent stake in a container terminal for $135 million, in the first such deal between the island and the mainland.

Under the investment, which is pending final government approval, Kao Ming Container Terminal Corp owned by Yang Ming Marine would sell a 30 percent holding in the terminal in the southern city of Kaoshiung, Yang Ming said in a filing to the Taiwan Stock Exchange.

Yang Ming did not give details of the buyers, but Dow Jones Newswires said China Merchants, Cosco Pacific and China Shipping will each hold 10 percent in the joint venture.

Taiwan's economy ministry in March eased its controls on Chinese investment amid fast-warming ties, although the island's telecoms sector remains off-limits to mainland investment.

Chinese investors are now allowed to buy up to a 50 percent stake in key public infrastructure including subways, light rail systems, bridges and tunnels, as well as cultural and educational facilities.

They are also allowed to invest in conference centres, national parks, cable car systems and six other categories without restrictions, the ministry said.

The United States and China pledged Wednesday to find ways to cooperate in their often fractious trade relationship in their first high-level talks since major political events in the two powers.

Vice Premier Wang Qishan, the long-time Chinese pointperson on trade, opened annual trade talks in Washington in which the United States has said that intellectual property and other concerns will be high on the agenda.

The talks are the first since President Barack Obama won re-election and China went through a leadership huddle that made Xi Jinping -- whose views are a mystery to many in Washington -- the presumptive next president.

Commerce Secretary Rebecca Blank said the coincidence of the political events in both countries showed it was a "historic time."

"We are entering a unique moment in which we can work together to ensure healthy, long-term and short-term growth of our relationship," she said as the two sides met in an ornate hall in central Washington.

Wang said that the continued struggles of the global economy showed the need for cooperation between the two countries through the annual forum, known as the Joint Commission on Commerce and Trade.

US Trade Representative Ron Kirk voiced hope that the two-day meeting will show "candor and commitment to problem-solving" and bring "measurable results that help stabilize and enhance our trade and investment relationship."

Ahead of the talks, Kirk said that the United States would seek action on intellectual property rights. US businesses accuse China of allowing rampant copyright violations of their products in the billion-plus nation

China, in turn, has warned the United States in the past against protectionism and called for the removal of restrictions on the sale of sensitive technologies.

The meeting will likely be the last between key trade players in the two nations. Wang was appointed China's top official tackling corruption -- seen as a top concern for the Communist Party as it seeks to preserve its rule.

Obama will soon name a new administration. In the November 6 election he defeated Republican Mitt Romney, who had vowed a tougher line on China including on trade.

China promises to crack down on pirated software
Washington (AFP) Dec 19, 2012 - China on Wednesday promised the United States that it would crack down on pirated software as the world's two largest economies looked to ease trade frictions amid political changes.

US and Chinese officials pointed to small signs of progress during annual trade talks, the nations' first high-level meeting since President Barack Obama's re-election and China's once-in-a-decade leadership transition.

Chinese officials said that the central and provincial governments along with major financial institutions would speed up work next year on ensuring they use only legal software, addressing a concern for a US industry which says that piracy costs it billions of dollars a year.

"We have confidence that the work will be completed at a faster pace," said Yan Xiaohong, the vice chairman of China's National Copyright Administration, told reporters after the two-day talks in Washington.

Commerce Minister Chen Deming said that the two powers took up 24 different issues during the talks and that Beijing's main priority was ensuring that it enjoys "fair and equal treatment" in trade and investment.

Chen said that the latest talks had yielded "some progress" on the issue but added: "Up to now we have not seen any substantial measures taken by the US side to implement or to honor its promises."

A congressional study in October called for the United States to ban contracts from telecom giants Huawei and ZTE, saying they posed a security threat. Similar concerns scuttled a 2005 bid by state-owned China National Offshore Oil Corp to take over former US oil giant Unocal.

But US Trade Representative Ron Kirk said after the meeting of the forum, known as the US-China Joint Commission on Commerce and Trade, that the United States welcomed rising Chinese investment.

"Chinese investors are investing in technology, in wind power, in energy and they do so freely in most cases without any government review or any government knowledge," Kirk told reporters.

"Conversely, we are urging China to have this open investment environment as we do in the United States," he said.

Acting US commerce secretary Rebecca Blank said that China would also benefit from an ongoing push by the United States to ease its tight restrictions on exports.

Most of the trade review focuses on military technology. The United States and European Union imposed an embargo on arms sales to China in the wake of its crushing of pro-democracy protests in Beijing's Tiananmen Square in 1989.

"But there are other items that will be decontrolled and, to the extent that China is looking at exports for civilian uses and civilian-end users, China will have access and will benefit," she said.

Blank said that the talks also yielded progress on US concerns about regulations related to US auto sales in China and the certification of foreign products.

Trade with China has often been politically explosive in the United States, with a number of candidates in November 6 elections including Obama's failed challenger Mitt Romney vowing a tougher line on Beijing if elected.

US lawmakers have been particularly critical of China over the value of its currency, which they charge is kept artificially low to boost exports, although it has been rising.

The talks were the first since China's leadership cemented the elevation of Vice President Xi Jinping to be the country's leader next year. US officials have closely watched moves out of Beijing for signs of Xi's inclinations.

The Chinese delegation was headed by Vice Premier Wang Qishan, a veteran trade negotiator who was named last month to the Communist Party's seven-man leadership council, taking the top spot on fighting corruption.

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