China to appeal WTO ruling on U.S. tariffs
CHINA is to appeal a World Trade Organization (WTO) ruling that U.S. tariffs on Chinese tires are consistent with global trade rules, according to Yao Jian, spokesman of China s Ministry of Commerce (MOC) yesterday.
China was concerned about the negative effects of the WTO ruling, Yao said. Imposing the duties on Chinese tires was aimed at shifting domestic pressure in the United States, but the action would not solve problems in related sectors, Yao said. On Sept. 11, 2009, the United States announced punitive tariffs of up to 35 percent on imports of all Chinese car and light-truck tires.
McDonald s to boost China investment
MCDONALD S Corp., the world s largest restaurant chain, could add as many as 200 outlets in China next year to compete with Yum! Brands Inc. s KFC Corp.
McDonald s plans to increase investment in China by 40 percent next year and open 175-200 restaurants in China, the company said in a statement distributed in Beijing yesterday. That compares with a 25 percent increase in investment this year and the opening of a company record 165 restaurants, according to the statement. McDonald s operates more than 1,100 stores in China and it aims to have 2,000 outlets in the nation by 2013.
Toyota sets up R&D center in Jiangsu
Japanese automaker, Toyota, has opened its sixth world R&D center in East China s Jiangsu Province, at a cost of US$689 million with registered capital of US$234 million dollars.
The new R&D center is at the Southeast Economic Development Zone in Changshu City, the zone management committee confirmed yesterday.
Nation may have 10% global exports
CHINA could account for 10 percent or more of the world s exports this year, rising from 9.6 percent in 2009, China Securities Journal reported, quoting Liu Haiquan, an official with the commerce ministry.
The nation could face difficulty maintaining an annual growth rate of 15 percent in exports in the future and must add value to its shipments, Liu said.
