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BEIJING, Dec. 6 (Xinhua) -- A well-known economist said Monday that the biggest problem in China is not inflation, but shifting its economic structure to maintain sustainable growth."The biggest challenge faced by China is economic restructuring in order to shift the economy to a more balanced way that will provide sustainable economic growth," Stephen Roach, former chairman of Morgan Stanley Asia, told Xinhua."In the post-crisis environment, the shift means to build a consumer-led economy, and that is the overriding challenge in China," said Roach, who currently serves as non-executive chairman of Morgan Stanley Asia.Residents' incomes in China remain at a low level. "People's incomes are only 42 percent of the GDP, whereas in the US the rate is 86 percent. So the government should raise the income of the citizens, especially when China wants to stimulate domestic private consumption," said Roach."Of course, that does not mean the Chinese government should ignore the risk of higher inflation," he said.Official data showed that China's October Consumer Price Index (CPI), a major gauge of inflation, rose to a 25-month high at 4.4 percent."There is a certain amount of momentum to inflation, so it's likely to be the a problem over the next 12 months. If the government acts quickly, it will be able to limit the problem, or else China could be facing this problem in 2012 as well," said Roach.Roach suggested China should take broad and comprehensive approaches in dealing with inflation, and the medium-term goal of the shifted economic structure need to be maintained."The government has to demonstrate its resolve in dealing with inflation, and property market assets. It's a challenge, but I think the government is up to the challenge," according to Roach.

BEIJING, Nov. 24 (Xinhua) -- Vice President Xi Jinping's visit to Singapore, South Africa, Angola and Botswana on Nov.14-24 achieved the goals of "consolidating traditional friendship, expanding strategic mutual trust, deepening substantial cooperation and boosting common development," Vice Foreign Minister Zhai Jun said Wednesday.The visit, which was conducted on the occasion of the 20th anniversary of the establishment of diplomatic relations between China and Singapore and the 10th anniversary of the establishment of the Forum on China-Africa Cooperation, has been given prominence by local and international media, Zhai said.During the visit, Xi exchanged views with the heads of states and governments and parliament leaders of the four nations and summed up the experience and achievements in the development of their bilateral ties.He met with people from all walks of life and attended a series of signing ceremonies of bilateral cooperative agreements on trade, energy, finance and culture, Zhai said.Xi also addressed a reception marking the 20th anniversary of the establishment of diplomatic relations between China and Singapore and gave a speech at the opening ceremony of a seminar on the 10th anniversary of the Forum on China-Africa Cooperation.During a stopover in Spain's Balearic Island Mallorca on his way home, Xi met Spanish Foreign Minister Trinidad Jimenez with whom he exchanged views on China-Spain and China-Europe relations.The Chinese vice president also met with representatives from local embassies, Chinese enterprises, Chinese medical teams and overseas Chinese people and students.Great achievements have been made during Xi's visit which was compact but effective and pragmatic, Zhai said.
BEIJING, Dec. 23 (Xinhua) -- China will carry out the House Sale Price Statistical Scheme in 2011, after soliciting opinions via the internet earlier this year, said Ma Jiantang, head of the National Bureau of Statistics (NBS) on Thursday.Ma made the remarks at a national statistics work conference, saying the bureau had accepted suggestions from various departments and experts and would work steadily reform the method of calculating the country's house sale prices in 2011."We'll further work with real estate departments, make full use of their network data, and check the authenticity of the data to further push forward the statistical scheme reform," Ma said.The NBS was committed to improve the scheme at the beginning of the year. It released the draft plan on September 25, which said prices, floor areas, and sales of newly-constructed houses in 35 major cities would be based upon data from local real estate departments, instead of independent research.Ma said that the bureau is working on 4 key systems, including building a database for basic surveyed units, one set of standards for surveyed enterprises, data collecting and processing software systems, and direct reporting network systems."The four systems are aimed to guarantee the authenticity, integrity and timeliness of the data," he said.By 2012, above-scale enterprises, above-norm wholesale and retail accommodations and catering businesses, construction enterprises, and real estate enterprises will be able to submit their data directly to a national data center, said the NBS.Also, about 550 cities across the country will use personal digital assistants (PDA) to collect data for the consumer price index (CPI), a major gauge of inflation, as well as farm produce prices, by the end of 2012, the NBS said.
BEIJING, Dec. 2 (Xinhua) -- Chinese Vice Premier Li Keqiang Thursday called for more efforts to tap ocean resources and protect the ocean's environment.In the past five years, China has made remarkable progress in oceanic work, especially in developing an ocean economy, protecting seawater environment and safeguarding orders on the seawater, he said while meeting with outstanding organizations and individuals selected from the national ocean systems.However, the public's demand on seawater products and services has been increasing and the tasks are arduous to protect the ocean's ecology and ensure sustainable development, he said.Chinese Vice Premier Li Keqiang (R, front) meets with the outstanding units and workers from the national ocean systems, in Beijing, capital of China, Dec. 2, 2010.He urged more efforts be made to implement the scientific outlook on development and accelerate the transformation of economic development patterns in planning the development of the oceans, protecting seawater ecology and improving anti-disaster capacities.
来源:资阳报