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BEIJING, Nov. 9 (Xinhua) - China's consumer price index (CPI) is expected to rise by slightly higher than the government's target of 3 percent this year, Zhang Ping, head of the National Development and Reform Commission, said Tuesday.Besides upward pressure on commodities prices due to natural disasters and imported inflation, loose domestic liquidity and speculation factors have also contributed to the prices hikes, Zhang said at a coal industry conference, adding that the government is paying close attention to domestic commodities prices, especially farm produce prices.Citizens shop at a supermarket in Haikou, capital of south China's Hainan Province, on Aug. 11, 2010.Zhang also said that edible oil is plentiful, though cotton and vegetables are projected to be in short supply during the rest of the year.Additionally, food prices, which account for one-third of weight in calculating the CPI in China, climbed 8 percent in September, pushing the CPI to reach a 23-month high of 3.6 percent in September.

NARA, Japan, Jan. 18 (Xinhua) -- Chinese Culture Minister Cai Wu met with Seiichi Kondo, Commissioner for Cultural Affairs of Japan, Yu In-Chon, Minister of Culture, Sports and Tourism of South Korea on Tuesday in Japan's Nara for the 3rd China-Japan- South Korea Ministerial Conference on Culture.The officials exchanged views on China-Japan, China-South Korea bilateral cultural exchanges and cooperation.During the meeting with Kondo, Cai said that the scale and number of China-Japan cultural exchanges rank the first in international cultural exchanges in China and China is willing to develop the bilateral relations on a strategic and long-term point of view.China will enhance the strategic and mutually beneficial relationship between the two countries through cultural exchanges and cooperation, he added.This year, the Chinese Ministry of Culture, with the joint efforts of the two countries' concerned departments, will hold China-Japan "Animation Festival" as well as "Television Week."Seiichi Kondo agreed with Cai's comments on China-Japan cultural exchanges and cooperation and added that although China and Japan experienced some political twists and turns, Japan always attaches great importance to and actively promote the bilateral cultural exchanges and cooperation.Japan is willing to work hand-in-glove with China in regional cooperation and contribute to improving the bilateral relationship, the Japanese official said.During the meeting with Yu In-Chon, Cai said that with the joint efforts of the leaders and different circles from both countries, China-South Korea cultural exchanges have become an important part of the bilateral strategic partnership.The South Korean minister said the width and depth of cultural exchanges have been expanded year by year. In recent years, the two countries have learned from each other in the fields of culture and art, performance and exhibition, cultural relics reservation, and intangible cultural heritage.Yu In-Chon said he fully agrees with Cai's comments and prospects on China-South Korea bilateral cultural exchanges and cooperation and is willing to work with China to actively promote personnel exchanges, exchanges of troupe performances, and exchanges programs for the youth, in order to deepen the understanding and enhance the feelings between the two peoples.The 3rd China-Japan-South Korea Ministerial Conference on Culture will be officially held on Wednesday.

BELGRADE, Nov. 23 (Xinhua) -- Celebrating 30 years of cooperation and fraternal relations between the capitals of Serbia and China, an art exhibit entitled "The Beauty of Beijing" was opened in the Old Palace in Belgrade on Tuesday.Belgrade Mayor Dragan Djilas extended a welcome to the visiting Beijing delegation, underscoring years of cooperation and cultural exchanges."For us the bridge we are going to build together is important, along with our cultural components which will complement our desire for Belgrade in 2020 to be the European 'cultural capital'," said Djilas, making reference to the 1,507-meter bridge over the Danube River to be constructed by Chinese firms. The total value of the contract is 170 million Euros and its completion date is 2013.The original cooperation agreement between Beijing and Belgrade was signed in October 1980, with the aim of boosting cooperation in the fields of economics, urban planning, utilities, health, education, culture, tourism and sport.Ma Zhipeng, senior advisor to the city of Beijing, said cooperation between the twin cities has been expanding over the last three decades.He said the art exhibit, with its 50 paintings divided into four thematic sections, would allow the citizens of Belgrade to become more familiar with the Chinese capital."On the occasion of the festive celebrations, in addition to the exhibition, the Belgrade Chamber of Commerce and Beijing signed an agreement on cooperation, which will provide a platform for economic cooperation between the two cities," said Ma.In addition to the art exhibit, the Orchestra "Huaxia" performed a collection of classic Chinese musical pieces with traditional instruments. 

BEIJING, Nov. 27 (Xinhua) -- Two years of monetary easing policies helped China's economy emerge from the global financial crisis. Now, facing a runaway inflow of hot money, fast loan growth, and escalating inflation, China could become serious about tightening regulations to achieve a "soft landing".Analysts recently said China could see more interest rate hikes in the final month of 2010 in a bid to soak up excessive liquidity and prevent a potential overheating of the economy.Further, the People's Bank of China (PBOC) Deputy Governor Hu Xiaolian said on Oct. 24 that using multiple monetary policy tools to improve liquidity management and guide the money and credit growth back to normal would be the main task for the central bank in the remainder of this year.According to data released by the central bank Friday, in October those funds outstanding for foreign exchange (FOFE) hit 525.1 billion yuan (78.37 billion U.S. dollars), the second highest monthly record in history.That is to say, PBOC issued 519 billion yuan of Renminbi in October to purchase the same amount of fresh inflow of foreign exchanges, which usually enter the nation in the form of trade surplus, foreign direct investment and short-term international speculative funds."The huge inflow of hot money is an important reason behind the sharp rise in FOFE," said Zhang Ming, a researcher with the China Academy of Social Sciences (CASS).He noted, as the European debt crisis ceased, that speculative funds have returned to the emerging markets, notably after the U.S. Federal Reserve announced the second round of its quantitative easing policy."As the massive inflow of foreign exchange increases the domestic monetary base, it has become a major impetus of a broad money supply, which could exacerbate inflation," said Liu Yuhui, also a researcher with CASS.Hefty foreign exchange inflow usually goes together with soaring inflation. China's FOFE hit a record 525.1 billion yuan in April 2008. In the same month, China's Consumer Price Index (CPI), a main gauge of inflation, was up by 8.5 percent, which was unprecedented.Also, this October, the CPI rose by 4.4 percent, the highest amount in 25 months.Boosted by a massive trade surplus, the domestic monetary situation began easing in late 2008, as China's broad money supply exceeded 70 trillion yuan, surpassing the United States to become the world's largest.Li Daokui, a member of the monetary policy committee with the PBOC, said hefty money supplies posed huge risks to the nation' s banking system and, more imminently, would exacerbate the current inflation."The interest rate increase last month sent a signal that more such increases will come in the future," he said.

BEIJING, Dec. 6 (Xinhua) -- China's welfare lottery has raised over seven billion yuan (about 1 billion U.S. dollar) for the country' s quake-stricken area in its southwest since 2008.The preliminary count was announced by China's Welfare Lottery Distribution and Management Center on Monday, a few weeks before the deadline for the fund-raising project.The project was initiated shortly after an 8.0 magnitude earthquake devastated China's southwestern region in May 2008, which left more than 87,000 people dead or missing.Designed to last for a 30-month period starting on July 1, 2008, the special fund-raising project will conclude on the last day of this month.This was the second major fund-raising effort dedicated for relief work following natural disasters.The first one was initiated after disastrous floods along the Yangtze, China' s longest river, in 1998. About 1.5 billion yuan was raised then.China's welfare lottery started in 1987.