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GUANGZHOU, April 18 (Xinhua) -- A research report of China's foreign trade sector Sunday predicted the world's largest exporter would more than double its foreign trade volume by 2020.It also called on China to improve the quality of foreign trade sector and to lower import tariffs to promote the nation's trade balance.The report, launched by the Ministry of Commerce (MOC) Sunday at the ongoing 107th China Import and Export Fair, the country's largest trade fair held in the southern city of Guangzhou, predicted the China's foreign trade volume would hit 5.3 trillion U.S. dollars by 2020.Merchandise exports will top other countries and be 2.4 trillion U.S. dollars in 2020, 10.1 percent of the world total, while imports will reach 1.9 trillion U.S. dollars and rank second largest, accounting for 8.2 percent of the world total, according to the report, jointly compiled by researchers with think-tanks under the MOC, the Ministry of Finance, and the Chinese Academy of Social Sciences.The report was seen by analysts and officials as a "road map" which lays out a theoretical basis for the reforms in China's trade policies and mechanisms over the next decade.The transformation of the foreign trade growth pattern has become an urgent requirement for China in the post-crisis era, said Vice Minister of Commerce Zhong Shan.Weighed on by the global downturn, China's foreign trade contracted to a three-decade low in 2009, with total volume down 13.9 percent year on year to 2.2 trillion U.S. dollars.Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation (CAITEC) under the MOC, said the financial crisis has revealed a series of substantial problems hidden behind rosy figures, as the nation's foreign trade has been expanded in an ineffective and imbalanced way, or at the cost of environment pollution.Analysts said the downturn had prompted China to adjust its exports structure, and shift focus on high-end manufacturing, energy-saving and environment-friendly industries and developing modern service industries.Li Gang, a research fellow with the CAITEC and leading writer of the report, said the global downturn has phased out a number of backward and less competitive enterprises while offering great opportunities for innovative enterprises to improve growth structure and strengthen their anti-risk capabilities.Although China reported a a deficit of 7.24 billion U.S. dollars in March, the first time over the past six years, analysts suggested decision makers to further expand imports by lowering tariffs, as a way to ease the nation's trade imbalance.Zhang Peng, a researcher with the Chinese Academy of Social Sciences, said China should increase imports of high-tech equipments, energy and resource products, and some agriculture and consumption goods in an attempt to address the trade imbalance.The nation's trade surplus has reached 1.3 trillion U.S. dollars over the last three decades, with foreign exchange reserves hitting 2.45 trillion U.S. dollars by the end of March, according to Zhang.Propping up world's economy recovery, China's foreign trade began to grow again in the first quarter, jumping 44.1 percent to 617.85 billion U.S. dollars, according to customs data.China would consolidate its position as a big trade power and make efforts to develop into a strong trader, and it would play a more active role in international trade arena, according to Zhong Shan.

NANNING, May 11 (Xinhua) -- Chinese Vice President Xi Jinping has called for full preparations for possible flooding in Guangxi while urging the region to step up drought relief work.After suffering a severe drought that left more than 20 million people short of water since August last year, south China's Guangxi Zhuang Autonomous Region is embracing its flood season.A rain-triggered landslide has already killed three people, including a 5-year-old child, in the region, authorities announced Monday. Chinese Vice President Xi Jinping (C Front) talks to local residents in Baise, south China's Guangxi Zhuang Autonomous Region, May 10, 2010. Xi went to Baise and Nanning from May 9 to 11 for an investigation."We should step up the drought relief work, and at the same time make full preparations to prevent possible flooding in a bid to ensure the safety of local people," said Xi, also a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee.Xi made the remarks during his three-day visit to Guangxi from May 9 to 11.Visiting aluminum and pharmaceutical companies, Xi stressed independent technology innovation for local companies to make them more competitive.He also urged local authorities to take advantage of the region's geographical location of being a coastal area and adjacent to the ASEAN countries to expand markets.

BEIJING, May 18 (Xinhua) -- Former chairman of Chinese electronics retailer giant Gome Huang Guangyu was sentenced to 14 years in prison by a Beijing court Tuesday morning over illegal business dealings, insider trading and bribery. File photo of Huang Guangyu.

CANBERRA, May 14 (Xinhua) -- Visiting General Guo Boxiong, Vice- Chairmen of China's Central Military Commission met the Australian Chief of the Defense Force Air Chief Marshall Angus Houston on Friday.Guo said China and Australia have extensive range of common interests and hold responsibilities in safeguarding regional stability and promoting common development.The two countries are important trading partners, maintaining good dialogues and consultation in responding to international financial crisis, climate change and other major issues such as the Asia-Pacific regional cooperation, he added.According to Guo, defense and military relations between China and Australia in recent years are more matured, more dynamic and the cooperation has great potential and bright prospects for development.In order to better response to the diversity of regional and global challenges, the two sides need to further strengthen communication, enhance mutual trust, consolidate the basis of mutually beneficial cooperation, the Chinese General said.Houston said that together with the increasing national strength, China will play a greater role in global and regional affairs. Australia hopes to strengthen cooperation with China in communication and cooperation, jointly safeguarding regional peace and stability.He said that meanwhile, the Australian government is satisfied with the current bilateral defense and military relations.Guo arrived on Tuesday in Australia for an official visit, and held talks with Australian Defense Minister John Faulkner and met with Australian Foreign Minister Stephen Smith.