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BEIJING, July 24 (Xinhua) - China's economy is unlikely to see a "double dip" in the second half of this year, and the economic growth for the remaining six months is expected to surpass 9 percent, according to a Bank of Communications report released Saturday.China's economic growth will slow down in the next half year, while consumer prices would fall from its peak, said the nation's fifth largest commercial bank in a report on the outlook of China's economy for the second half of 2010"For China, it is never a recession unless the economic growth drops below 7 percent," said Lian Ping, chief economist with the Shanghai-based bank.The growth is sustainable and healthy for the economy as the growth rate stays around 9 percent, he said.China's exports, a major force driving the economic growth, would continue to rebound in the second half, and the growth for the entire year would stay above 20 percent, according to the report.For the latter half of 2010 consumption is to grow by 18.5 percent from a year ago while investment growth will drop steadily to about 21 percent due to government support to the private sector and strategic emerging industries, it said.Increasing labor costs, resources and food prices is expected to push up China's consumer prices, but the growth would be restrained in the second half due to the slowing money supply and eased imported inflationary pressures, it said.China's gross domestic product (GDP) expanded 11.1 percent in the first six months of this year from one year earlier, data from the National Bureau of Statistics (NBS) showed.China's consumer price index stood at 2.6 percent in the first half of 2010, according to the NBS, while retail sales and fixed asset investments grew 18.2 percent and 25 percent year on year, respectively.China would maintain a stable monetary policy for the rest of the year since the global economic condition is still complicated, and an interest rate hike is unlikely to be seen, said the report.The bank estimated that new loans for the entire year would stand between 7 to 8 trillion yuan (1.03 trillion to 1.18 trillion U.S. dollars).The bank also forecasted in the report that the Chinese government would remain tough with the property sector, but there is little possibility for additional curbs on the market. Property investment would largely fall, but there will not be a significant decline in property prices.Lian suggested that the Chinese government pay attention to the possible cumulative effect of policies on the economy and keep market liquidity at a reasonable level.
ZHAOYUAN, Shandong, Aug. 7 (Xinhua) -- Fourteen miners were confirmed dead, 23 others still trapped underground while 292 were lift to the ground safely following a fire that engulfed a gold mine in east China's Shandong Province Friday, local authorities said early Saturday morning.A total of 329 miners were working underground when the fire broke out at about 5 p.m. at the Luoshan Gold Mine run by Lingnan Mining Co. Ltd. in Zhaoyuan city, a spokesman with the rescue headquarters told Xinhua.Three hundred and six were lifted to the ground as of 5 a.m., but 14 of them were found dead, he said.Twenty-three people were still trapped underground, with 21 miners' locations identified, he added.Dozens of injured miners had been sent to two local hospitals, he said.An initial investigation showed that the fire was likely caused by an underground cable. Police were further investigating the incident.The mine owner had been taken into police custody, he said.Over 100 rescuers are working at the scene. Provincial Party chief Jiang Yikang and governor Jiang Daming have rushed to the scene to oversee the rescue work.
HETIAN, Xinjiang, Aug. 21 (Xinhua) -- Top Chinese political advisor Jia Qinglin here Saturday called for greater efforts by local religious circles in Hetian, in northwest China's Xinjiang Uygur Autonomous Region, to contribute to the long-term stability and development of Xinjiang.When meeting with representatives of local religious circles during his visit to Hetian, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), listened to their advice and opinions.Speaking highly of the contributions of patriotic religious personages, Jia said Party committees and governments at all levels in Xinjiang have always attached great importance to the education and cultivation of religious believers, showed care for their lives and work, and given great support to their religious activities.Citing a roadmap outlined by the central work conference on Xinjiang's development held in May, Jia urged Xinjiang's religious circles to help consolidate national unity and harmonious religious relations.Jia also asked them to resist and eliminate the influence of religious extremism in their religious activities.
BEIJING, July 26 (Xinhua) -- Drenched riverside towns in central and southern parts of China on Monday prepared for even more flooding as water levels in the country's huge rivers surged and rainstorms continued.In its latest update, the State Flood Control and Drought Relief Headquarters said floods this year had left 823 people dead and another 437 missing as of Monday morning.The direct economic loss had mounted to 154.1 billion yuan, more than double that of previous flood losses incurred in any single year since 2000.Premier Wen Jiabao has urged local authorities to fully prepare for more floods and related disasters.More than 370,000 soldiers and residents now have been mobilized to beef up the flood prevention efforts in eight provinces and municipalities along the country's major rivers, the flood control headquarters said.
BEIJING, July 19 (Xinhuanet) -- Expo 2010 Shanghai is proving to be a boon for successful Chinese entrepreneurs eager to tap into the global market.The 184-day event, which is predicted to attract an estimated 4 million foreign visitors along with global media coverage, is considered to be a golden opportunity for Chinese companies to raise their brands to an international level and explore business opportunities.According to survey released last year by the information office of Shanghai Municipal Government, more than a quarter of the respondents were hoping to visit Shanghai during the Expo to seek future business.The online survey polled 503 foreigners in 44 countries and regions across the world, 30 percent of whom were senior corporate executives.Of the Expo's 58 partners and official sponsors, 47 are Chinese companies, 25 are from Shanghai, 15 are from Beijing and seven from other parts of the country. They contributed a total of more than 7 billion yuan ( billion) in sponsorship fees to the event, averaging more than 100 million each.While the sums are large, the contributors represent only a small portion of the number Chinese firms that want a slice of the Expo pie. Those who are not qualified to partner an official sponsor have sought other means of gaining brand exposure."The Expo is a once-in-a-century opportunity for us to promote our brand on an international scale," said Zhang Yingguang, a public relations manager for Tsingdao Beer, the Chinese industry leader based in Qingdao, Shandong province.The company launched a flurry of billboard advertisements on the city's busiest streets, as well as in metro stations and commercial areas. The ads targeted foreigners by trying to teach them Chinese phrases about drinking.It also made a presence in the Zero Carbon Pavilion at the Expo, where it contributed lamps made out of beer bottles and launched a gourmet TV show with a local TV station.