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BEIJING, Dec. 29 (Xinhua) -- China's gross domestic product (GDP) is predicted to grow by around 9.5 percent in 2011, 0.5 percentage points lower compared to the growth rate expected for this year, said a report issued Wednesday by the Bank of China (BOC).The report by the BOC, China's third largest lender, was based on the bank's projections of weak overseas demand, tighter monetary policy, and the government's planned economic restructuring for 2011, the first year of China's 12th five-year plan.The Chinese government announced in early December that it will switch its monetary policy stance from relatively loose to prudent next year to tackle rising inflation and keep economic growth at a sustainable pace.The report also said government policies this year to curb soaring property prices in some major cities, and the country's efforts to improve energy efficiency had slowed the economy with the GDP dropping to 9.6 percent in the third quarter, down from the second quarter's 10.3 percent and 11.9 percent in the first quarter.The report also forecast inflation to rise 4 percent in 2011, compared to the 3.3-percent rise expected for 2010. It said that in the second half of the year, the producer price index (PPI) for China's industrial products had kept rising along with the consumer price index (CPI), adding more inflationary pressure for the future.The Chinese government set a 3-percent target for inflation this year, but looks unachieveable after the index rose 3.2 percent during the first 11 months. Pushed up mainly by rising food prices, the index soared 5.1 percent in November to a 28-month high.The report also predicted new lending next year would be 7 trillion yuan (1.06 trillion U.S. dollars), just slightly down from the 7.5 trillion yuan target set by the government for 2010.Growth rates of retail sales of consumer goods and industrial value-added output would see a slight drop from year 2010, while imports would likely grow by 18 percent, 3 percentage points higher than exports.As inflation triggers wider public concerns, expectations for more hikes in interest rates are strengthening. The report forecast the People's Bank of China, the central bank, would likely hike rates for up to three times next year, mostly during the first half of the year.The central bank on Sunday raised the benchmark one-year lending and deposit rates by 25 basis points for the second time in just over two months. It had also set higher commercial lenders' reserve requirement ratio six times this year in a move to tighten liquidity amid climbing inflation.
MOSCOW, Dec. 28 (Xinhua) -- Visiting Chinese Assistant Foreign Minister Cheng Guoping held talks with Russian Deputy Foreign Minister Alexei Borodavkin here on Tuesday, exchanging views with the Russian side on the current situation of the Korean Peninsula.The two sides reached consensus on the issue, saying both China and Russia urged the Republic of Korea (ROK) and the Democratic People's Republic of Korea (DPRK) to jointly mitigate tensions on the peninsula and to resume direct dialogue at an early date.Escalating tensions on the peninsula may even trigger a war, which is absolute not in line with the interests of the relevant sides including Russia, the United States and Japan, the two diplomats said in a joint statement.The ROK and the DPRK are the most susceptible if the war broke out, the statement added.China and Russia will never allow any war on the peninsula, or the lingering tensions between the two countries. Thus, China and Russia will continue to further cooperation and coordination on the issue and to push forward the direct dialogue between the ROK and the DPRK, the diplomats said.They said China and Russia are calling for joint efforts from relevant sides to stabilize the situation on the peninsula and not to impair peace, safety or stability.The two sides also reiterated that the six-party talks were proved to be the most realistic and most effective solution to solving the problem.Currently, emergency consultations among the heads of delegations to the six-party talks are in urgent need, they added.Launched in 2003 and stalled since the end of 2008, the six- party talks on the Korean Peninsula nuclear issue involve China, the United States, the DPRK, the ROK, Russia and Japan.The two sides also exchanged views on bilateral ties, including high-level exchanges, the overall promotion of China-Russia strategic partnership of coordination, and several other issues.

BEIJING, Dec. 4 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged the country to offer better services for the disabled.Li made the remarks Friday while visiting the Care and Rehabilitation Expo, a three-day international exhibition on equipment to assist disabled and aged people.Friday marked the International Day for Persons with Disabilities. China's disabled population exceeds 83 million. Li called for more efforts to care for the disabled in a bid to improve their quality of life.Further, the vice premier said the country would improve laws and regulations regarding the disabled and increase support of policies and fund input to serve the disabled population in better ways.Better services for disabled people would include improving the quality of public services, making more areas handicapped accessible, and assisting the needy and safeguarding their rights and interests in a bid to solving difficulties in their living, studying, and medical requirements, Li said.The expo, organized by the China Disabled Persons' Federation and the General Office of the National Aging Committee, brought together more than 200 manufacturers from 17 countries and regions, according to statistics released by the organizing committee.
MADRID, Jan. 4 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said here on Tuesday that China is likely to buy more Spanish government bonds to help the country deal with market concerns about its solvency.Li made the remarks during a meeting with Spanish Second Deputy Prime Minister and Minister of Economy and Finance Elena Salgado.Li noted that the Spanish government has taken a series of measures to fight the global financial crisis, which will help lift the country out of its severest woes and pave the way for sound economic development in the long run."We believe Spain, with its government and people working together, will surely overcome current economic and fiscal difficulties," he said.Chinese Vice Premier Li Keqiang (L) shakes hands with Spain's Second Deputy Prime Minister Elena Salgado, in Madrid, Spain, Jan. 4, 2011. Li Keqiang arrived here Tuesday at the start of a three-nation tour to Europe. Li said that China, as a long-term and responsible player in the Spanish government bonds market, has not reduced its holdings, and even increased its buying activities amid European debt concerns."We will buy more (Spanish government bonds) depending on market conditions," he said.The Chinese leader arrived in Madrid earlier in the day, kicking off a three-day official visit to Spain.Spain is the first leg of his three-nation European tour, which will also take him to Germany and Britain.
BEIJING, Dec. 22 (Xinhua) -- Chinese lawmakers have heard a series of the State Council's reports on the development of ethnic minorities, and regarding the country's health care reform and service industry, at a meeting Wednesday during the bimonthly session of the Standing Committee of the 11th National People's Congress (NPC), China's top legislature.The meeting was presided over by Ismail Tiliwaldi, vice chairman of the NPC Standing Committee.A total of 150 NPC Standing Committee members, including Wu Bangguo, chairman of the NPC Standing Committee, as well as other vice chairpersons of the NPC Standing Committee attended the meeting.Commissioned by the State Council, Yang Jing, minister in charge of the State Ethnic Affairs Commission, said in a report to the NPC Standing Committee that the Communist Party of China (CPC) and the central government's supports in policy, planning and funding for the ethnic minority groups and regions had yielded remarkable achievements in the country's economic and social development.In the report, Yang also pledged that the government would continue to step up infrastructure development in ethnic minority regions and spend more on education, medical services and poverty relief.Zhang Ping, director of the National Development and Reform Commission, delivered a report on deepening health care reform at the meeting.The reform had achieved various levels of progress in promotion of medical insurance, grassroots medical services and equal access of health care services for the public, Zhang said.Zhang noted that the government would further expand the coverage of the medical insurance system, intensify supervision over medical service providers and make more progress in the reform of the country's publicly-owned hospitals.Zhang also delivered a report on accelerating the development of the country's secondary industries. China's service industry has been experiencing rapid growth from 2006 to 2010 with an increase in its competitiveness, Zhang said.The service industry has been making increasing contributions to the country's job market, as well, Zhang said.However, Zhang commented that it still lags behind the country's overall development, and could not meet the demand of the country's economic and social development.In his report, Zhang urged creating a favorable policy and system environment for the development of the country's service industry.The meeting also reviewed a written report about Wu Bangguo's visit to Cambodia, Indonesia and Thailand.Also on Wednesday, a meeting of the chairman and vice-chairpersons of the NPC Standing Committee, presided over by Wu Bangguo, has decided to put the draft agenda of the fourth plenary meeting of the 11th NPC to the vote at the ongoing NPC Standing Committee session.The 18th session of the Standing Committee of the 11th NPC runs from Dec.20 to 25.
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