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WASHINGTON, Oct. 6 (Xinhua) -- China's growth is projected to average 10.5 percent in 2010 and 9.6 percent in 2011, driven by domestic demand, the International Monetary Fund (IMF) said in a report Wednesday.The Washington-based international lending agency made the projection for the annual fall meetings this weekend of the 187-nation IMF and its sister lending organization, the World Bank."The slight moderation in recent activity is expected to continue through 2011 in light of tighter quantitative limits on credit growth, measures to cool off the property market and limit bank exposure to this, and the planned unwinding of fiscal stimulus in 2011," the IMF said in its report.The report said this year's sustained growth in retail sales and industrial production confirms that private sector activity has advanced beyond the lift from government stimulus."On average over 2010-11, private domestic demand is poised to contribute two-thirds of near term growth, and government activity about one third, whereas the contribution from net exports will be close to zero," the report said.Despite the robustness in domestic demand, the pickup in inflation in 2010 reflected mainly higher food prices rather than core inflation, the report said.The report said China's increasingly wide trading network is driving growth in numerous economies, especially commodity exporters.The report said Asia's medium-term growth depends on the rebalancing of drivers of growth -- greater reliance should be put on domestic markets instead of foreign demand.The report said such a rebalancing in China, the world's second largest economy, is critical to enhance the role of household consumption in domestic growth.The report also recommended that China implement reforms to health care, education, and pension systems to enhance the social safety net.
BEIJING, Aug. 27 (Xinhua) -- China's top legislature held an inquiry Friday into the government's report on grain safety in an effort to improve the legislative supervisory role.Entrusted by the State Council, or China's Cabinet, senior officials from nine government agencies, such as the National Development and Reform Commission (NDRC), attended the inquiry to answer questions raised by lawmakers at a bimonthly session of the Standing Committee of the National People's Congress (NPC), the country's top legislature.Such inquiries are believed to be a concrete and important step for the top legislature to exercise and improve supervision of the government.Zhang Ping, minister in charge of China's top economic planning body, the NDRC, issued the report on the country's grain safety on Thursday and lawmakers began to deliberate and make inquiries on the report on Friday.This is the second inquiry held by the top legislature this year. In its June session, lawmakers held an inquiry into the central government's final accounting for 2009.INTENSE Q&A SESSIONThe NPC Standing Committee's vice chairwoman, Oyunqemag, and 21 other lawmakers peppered government officials with more than 20 questions at the inquiry.Responding to a question on the impact of frequent natural disasters including drought, freezing weather and floods on this year's harvest, Vice Agriculture Minister Chen Xiaohua admitted that grain production has been negatively impacted.Chen, however, said because the central authority introduced preferential policies in a timely manner, the grain crops harvested in the summer maintained the same level as in previous years, though the harvest of early rice dropped a bit.He also said he was optimistic about the harvest in autumn, which accounts for more than 70 percent of the country's grain output because the seeded area has been increased and the growth of the crops was good at present.

BEIJING, Oct. 15 (Xinhua) -- Property prices in 70 major Chinese cities rose 9.1 percent year on year in September, the lowest growth rate so far this year, the National Bureau of Statistics (NBS) said Friday.The rate was down 0.2 percentage points from the 9.3-percent increase in August, but prices were up 0.5 percent month on month, a statement on the NBS website said.New home prices climbed 11.3 percent year on year in September, up 0.5 percent from August.Prices for second-hand homes were up 6.2 percent from a year earlier, a rise of 0.5 percent from August.Real estate investment continued to expand in the first three quarters, with the total standing at 3.4 trillion yuan (511.4 billion U.S. dollars), up 36.4 percent from the same period in 2009, the statement said.The property price growth rate peaked this year at 12.8 percent in April.
BEIJING, Sept. 30 (Xinhua) -- Chinese Premier Wen Jiabao said Thursday that the government will keep housing price at a reasonable and stable level.Addressing a grand reception marking the 61th anniversary of the founding of the People's Republic of China, Wen said the nation will improve support for the elderly, medical care and other social security schemes, to allow all the citizens to benefit from China's economic growth.Present at the reception were Chinese President Hu Jintao and other senior Chinese leaders Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang, Zhou Yongkang and more than 1,000 Chinese and foreign personages.Chinese Premier Wen Jiabao addresses the reception to celebrate the National Day at the Great Hall of the People in Beijing, capital of China, Sept. 30, 2010. China's State Council (Cabinet) on Thursday held the reception to mark the 61st anniversary of the founding of the People's Republic of China, which falls on Oct. 1.Premier Wen reiterated the country's adherence to the paths of scientific development, reform and opening-up, and peaceful development."China's development will neither harm anyone nor pose a threat to anyone," he said, adding that the argument that a strong country is bound to seek hegemony does not apply to China.Wen said this year is the last year for implementing China's 11th five-year plan of economic and social development.He reviewed the country's "new historic changes" over the last five years, citing enhanced productivity and national strength, improvements in people's lives, and the country's increased international standing and influence."In the last two years in particular, we adopted timely and forceful measures to counter the severe impact of the global financial crisis," said the premier."We have prevailed over numerous difficulties and become one of the first countries to achieve an economic rebound," he added.Saying the country is at a "new historical starting point," Wen said the coming five years will be crucial to China's effort to build a moderately prosperous society.He called for joint efforts with compatriots in Hong Kong and Macao to promote long-term prosperity and stability in the two regions.The premier also vowed to join hands with compatriots in Taiwan to promote peaceful development across the Taiwan Strait and fulfill the peaceful reunification cause.
XIAMEN, Sept. 7 (Xinhua) -- The 2nd World Investment Forum (WIF), seeking to offer insights on the balance between investment and sustainable development, kicked off Tuesday in the coastal city of Xiamen of southeastern Fujian Province.With the theme of "Investment for Sustainable Development", the current forum, organized by the United Nations Conference on Trade and Development (UNCTAD), have attracted more than 1,500 oversease investors, policymakers and international organization representatives.Among the attendants to the forum are World Trade Organization Director-General Pascal Lamy, prime ministers from Greece, Zimbabwe and Mongolia, and presidents from Bulgaria, Peru, Ghana and Jamaica.The high-profile attendance "demonstrates the importance that international investment has gained as an engine of growth and development," UNCTAD Secretary-General Supachai Panitchpakdi said at the opening ceremony of the forum.According to Supachai, the three-day forum will examine the challenges and opportunities for global investment in a post-crisis economy.Supachai urged "a new generation of investment policies" to promote the transformation towards a low carbon economy.The forum will include a series of conferences on topics such as the impact of investment on sustainable development, how stock exchanges can promote sustainable business practices and the need for a recognised set of principles for borrowers and lenders that promotes sustainable debt and credit conditions.Also included are a ministerial round table meeting that will address investment policy coherence in the post-crisis environment and presentations from several countries showcasing climate change-related investment projects.Chinese Vice President Xi Jinping delivered a keynote speech at the ongoing opening ceremony of the 2nd World Investment Forum, which is sponsored by the United Nations Conference on Trade and Development (UNCTAD).
来源:资阳报