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BEIJING, Oct. 16 (Xinhua) - China's gross domestic product (GDP) will grow about 9 percent next year, but the economy will be challenged by rising labor costs, liquidity problems and difficulty in sustaining rapid growth in the long run, a senior researcher at the country's top think-tank said Saturday.Liu Shijin, deputy director of the Development Research Center of the State Council, or China's Cabinet, spoke at the OTO Fortune Forum held by the Bank of Communications.As for the year 2010, Liu predicted an annual 10-percent GDP growth due to the economic slowdown in China during the second half of the year.He said China's exports and investments would be much better in 2011 than this year, but the growth rate of consumption would pull back slightly from this year's boom, making 9 percent growth "very likely".To keep its economy on track for sustained growth, however, China still faces three major challenges in the long term, according to Liu's research."The first challenge comes from the rapid rise of labor costs in the country," Liu said, warning: "The competitiveness of Chinese companies will be threatened by rising labor costs unless they find a new source of growth, such as innovation."The second challenge is from liquidity as China's currency, the renminbi, and other non-U.S. dollar currencies are under forced appreciation pressure following the Federal Reserve's considering a new round of quantitative easing of the monetary policy, he said.The greenback, which serves as the world's reserve currency, tumbled against most major currencies this week on expected easing move by the Federal Reserve to pump more money into the U.S. economy next month.Meanwhile, China's economic stimulus package also injected excessive liquidity into the market, pushing up prices of commodities, equities and other land-related assets or resources, he added.The third major challenge concerns whether China can maintain its quick economic expansion in the future, he said.According to Liu's forecast, in the next three to five years China's GDP growth will slow to a moderate speed of around 7 percent from its current 10 percent."Actually, we don't have to be too worried about an economy with moderate expansion," he said, "because the current economic growth is too high for China."

BEIJING, Oct. 28 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday called for the country's citizens to actively participate in and cooperate with the sixth national census that starts on Nov.1.Li made the remarks in a pep talk through national TV and radio broadcast for the census on Thursday, saying that the upcoming census was a major event as the Chinese population and its structure and flow had greatly changed since 2000 when the fifth census was conducted.China, the world's most populous country, conducts national census every ten years to collect basic information for making economic and social policies.Every citizen has the obligation to participate in the national census and cooperate with the enumerators coming to their homes to make the statistics more accurate, Li said, adding that personal information collected in the census will be kept as confidential data.

BEIJING, Sept. 17 (Xinhua) -- Typhoon Fanapi is likely to land on the east coast of Taiwan on Sunday, said China's National Marine Environmental Forecasting Center (NMEFC) in Beijing Friday.The center of the year' s 11th typhoon was about 700 km southeast from Hualien, in Taiwan, said a statement from the center.It was moving northwest towards Hualien and increasing in strength, the statement noted.The administration has issued a warning regarding huge waves which might strike off the Hualien coast, it said.On Sunday, the southern East China Sea might also produce waves of 4 to 6 meters high and waves in the Taiwan Strait might rise to 3 to 4 meters.Guangdong, Fujian and Zhejiang provinces along the mainland's southeast coast would also be affected by the typhoon, the statement said.The statement warned all fishing boats in the region to take necessary precautions.The fishing season began in the East China Sea in mid-September and a large number of vessels are in the area.Additionally, Typhoon Fanapi could continue moving west after landing on Taiwan and strike Fujian and Guangdong, the statement said.Also on Friday, the Ministry of Civil Affairs launched an early-warning for disaster relief responses aimed at the typhoon's possible damages to the southeastern coastal areas.The ministry and the National Committee for Disaster Reduction instructed local governments to carefully keep track of the typhoon's movement and the changes in weather, and strengthen prevention measures for geological disasters and flooding in urban areas.Local governments were also urged to evacuate residents in high-risk areas while providing for their basic living necessities.

BEIJING, Aug. 29 (Xinhua) -- Shanghai Pudong Development (SPD) Bank said its first-half-year net profit rose 33.92 percent from one year earlier due largely to lending boom and increased commission fees.Net profits climbed to 9.08 billion yuan (1.34 billion U.S. dollars) in the first six months of this year, the Shanghai-based lender said in a statement filed with the Shanghai Stock Exchange late Sunday.Its growth in profits stemmed from rising operating revenues, a result of growing net interest earnings, increased fee incomes and the improved quality of assets, according to the statement.Earnings per share stood at 0.791 yuan, up 20.21 percent from one year earlier. Also, operating revenues grew 36.42 percent to 22.75 billion yuan in the first half of 2010, it said.Total assets for the commercial bank hit 1.781 trillion yuan by the end of June, up 9.77 percent from the end of 2009.

BEIJING, Oct. 10 (Xinhua) -- Chinese Premier Wen Jiabao's just concluded Eurasian visit has promoted ties and traditional friendship between China and five European and Asian countries.Wen paid official visits to Greece, Belgium, Italy and Turkey and an unscheduled visit to Germany, and attended the 8th Asia-Europe Meeting (ASEM) and the 13th China-European Union (EU) summit on Oct. 2-9.During the eight-day tour, Wen attended over 70 events, which covered global challenges, bilateral ties, hot topics and cooperative programs in the forms of lectures, talks, meetings, symposiums and tours.The visit, despite its tight schedule, had rich contents, and was another presentation of China's spectacular diplomatic moves.