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WASHINGTON, Oct. 6 (Xinhua) -- China's growth is projected to average 10.5 percent in 2010 and 9.6 percent in 2011, driven by domestic demand, the International Monetary Fund (IMF) said in a report Wednesday.The Washington-based international lending agency made the projection for the annual fall meetings this weekend of the 187-nation IMF and its sister lending organization, the World Bank."The slight moderation in recent activity is expected to continue through 2011 in light of tighter quantitative limits on credit growth, measures to cool off the property market and limit bank exposure to this, and the planned unwinding of fiscal stimulus in 2011," the IMF said in its report.The report said this year's sustained growth in retail sales and industrial production confirms that private sector activity has advanced beyond the lift from government stimulus."On average over 2010-11, private domestic demand is poised to contribute two-thirds of near term growth, and government activity about one third, whereas the contribution from net exports will be close to zero," the report said.Despite the robustness in domestic demand, the pickup in inflation in 2010 reflected mainly higher food prices rather than core inflation, the report said.The report said China's increasingly wide trading network is driving growth in numerous economies, especially commodity exporters.The report said Asia's medium-term growth depends on the rebalancing of drivers of growth -- greater reliance should be put on domestic markets instead of foreign demand.The report said such a rebalancing in China, the world's second largest economy, is critical to enhance the role of household consumption in domestic growth.The report also recommended that China implement reforms to health care, education, and pension systems to enhance the social safety net.
NANJING, Oct. 4 (Xinhua) - Three months after high school, 18-year-old Wang Mingyuan landed a part-time job in KTK Group, one of China's leading railway components manufacturers, in east China's Jiangsu Province.Unlike other migrant workers, Wang also started a three-year vocational school education at the same time, thanks to the work-study program launched this year by the Jiangsu provincial government.The program offers employment opportunities in high-technology and community-service fields to vocational school students. Currently, Wang works three days of each week in the company and spends another two days as a student, learning computer science and engineering."I felt very depressed about the future when I knew I failed the college entrance exam. But after attending the work-study program, I think if I work hard, I may fare as well as those with college educations," Wang said."Through the program, I could gain career-related, on-the-job work experience, which is valuable for my job hunting and career development," he continued.For a long time, college has been seen as a necessary, even if not sufficient, ticket to the middle class by the Chinese people. However, the steadily increasing number of students attending Chinese colleges since the late 1990s caused a growing number of graduates to fail in finding a job.In contrast, skilled workers are badly needed in China as skilled job vacancies hit 4 million across the country by the end of 2009."As the country's industrial restructuring accelerates, the demand for skilled workers will become increasingly buoyant," said Huo Jianguo, director of the Trade Research Institute affiliated with the Ministry of Commerce.On the one hand, the employment market ran short of skilled workers. On the other hand, China's employment situation remained grave as millions of people were laid off, Huo said.
UNITED NATIONS, Sept. 20 (Xinhua) -- China supports for UN General Assembly to play an even greater role in handling international affairs, Chinese Foreign Minister Yang Jiechi said Monday.Yang made the remarks in a meeting with UN General Assembly President Joseph Deiss at UN Headquarters on the sidelines of a high-level meeting on anti-poverty goals.The foreign minister voiced hope for the General Assembly to attach greater importance to development issues, proactively implement the outcomes of the UN high-level meeting, pay attention to the concerns of developing countries and further promote international development cooperation.On Monday morning, Yang also held separate meetings with Arab League Secretary-General Amr Moussa and the foreign ministers of Khazakstan, Indonesia and Switzerland.He told Mousa that China hopes for a stronger Sina-Arab strategic relationship of cooperation, and that China remains committed to supporting the just cause of the Palestinian people in seeking legitimate national interests.
BEIJING, Sept. 6 (Xinhua) -- Chinese Vice President Xi Jinping has urged authorities of a southeastern province to press ahead with its reforms and opening-up, and to embrace innovations in its economic development.In his four-day inspection tour in Fujian Province that began Friday, Xi spent time visiting high-tech enterprises, inquiring about villagers' incomes and held talks with university students.Efforts should be made to improve people's livelihood and solve practical difficulties for them with regard to employment, medical care, housing and children's schooling, Xi said during his visit to villages and urban communities.When visiting areas hit by June's torrential rains and massive floods, Xi urged local authorities to continue with disaster-relief work, rebuild damaged homes and agricultural infrastructures, as well as increase support for enterprises.In the coastal city of Xiamen, Xi urged government administrations in Fujian to take proactive measures to offer services to, and create "better conditions", for people from Taiwan.Further, efforts should be made to expand the scope and upgrade the level of cross-Strait exchanges and cooperation, he said.
SHANGHAI, Oct. 31 (Xinhua) -- Chinese Premier Wen Jiabao declared the closure of the World Expo 2010 at the Expo Culture Center in Shanghai Sunday night.A ceremony was held here to celebrate the end of the Expo, which International Exhibitions Bureau (BIE) President Jean-Pierre Lafon called an "astounding success."The first of its kind staged in a developing country, the event attracted 246 participating countries and international organizations and 73 million visitors. Both figures are records in the history of expos, the first of which was held in London in 1851.On an area of 5.28 square kilometers, the Expo Site has become a global village where people can not only see rare cultural treasures from around the world -- the bronze chariot and horse sculpture from China's Warring States period, the statue of Athena from Greece and French impressionist masterpieces, for example -- but also get a taste of the diversity of the world's cultures through more than 20,000 cultural events.The gala is eyed in China as another event of national splendor after the 2008 Beijing Olympic Games showcased China's status as an economic and political power to the world.