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Gurry also appreciated the organization's deep collaboration with Xinhua, saying that he will push for more cooperation in the future.

China could raise its budget deficit to 4 percent of GDP or even higher to support broader reforms, Sheng wrote, adding that the deficit increase would not incur big insolvency risks for the government.

BEIJING, March 11 (Xinhua) -- Xinhua News Agency and Russia's Tass news agency pledged to further strengthen their cooperation in a meeting between heads of the two agencies here on Friday.

"Confucianism, along with other philosophies and cultures that have taken shape and grown within China [...] nourished the flourishing Chinese nation," he said.

Food prices edged up 4.1 percent year on year while non-food inflation climbed 1.2 percent, mainly due to higher prices of healthcare, clothing, education and entertainment.