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BEIJING, April 11 (Xinhua) -- Although China registered the first monthly trade deficit last month in six years, that would be temporary as the demand for imports is likely to ease with the expected moderation in domestic fixed asset investment, said an economist of JP Morgan Chase."With an anticipated recovery in developed economies this year, Chinese exports should improve gradually over the coming months," said Jing Ulrich, chairman of China Equities and Commodities of the U.S. bank in a research note Saturday.That will be proved by the forward looking new export orders component of China's official PMI (Purchasing Managers's Index) which increased to 53.7 in March from 50.3 in February, she said.China reported trade deficit of 7.24 billion U.S. dollars in March, the first since April 2004, as exports rose 24.3 percent year on year, while imports jumped by 66 percent."The pace of China's export recovery and dynamics of imported inflation will shape the country's approach towards currency valuation. A return to the policy of gradual RMB appreciation would allow China to mitigate imported inflation and promote domestic consumption by boosting household purchasing power in local currency terms," she said.She noted that in the longer-run, more flexibility in China's currency regime would allow the central bank to set monetary policy with greater independence from the U.S. Fed Reserves.
BEIJING, April 22 (Xinhua) -- A leading Chinese government think tank Thursday forecast the country's 2010 economic growth would top the 8-percent target set by the central government by almost 2 percentage points.The Chinese Academy of Social Sciences (CASS) forecast China's gross domestic product (GDP) would expand by 9.9 percent this year, 1.2 percentage points higher than last year's growth rate.Its forecast is higher than the 9.6-percent economic growth predicted by the Asian Development Bank earlier this month.Fixed assets investment would rise 33.3 percent year on year in 2010, said a blue book on China's 2010 economic prospects jointly released by the CASS and the Social Sciences Academic Press.The CASS said a slim chance existed of serious inflation in China this year with the consumer price index (CPI), a main gauge of inflation, growing within a moderate range.The book also said the government should make economic policies more flexible and better targeted over the rest of the year, while mapping out plans to withdraw stimulus measures gradually within the next two years without jeopardizing economic growth.China's GDP grew 11.9 percent year on year in the first quarter to 8.06 trillion yuan (1.19 trillion U.S. dollars) and fixed assets investment rose 25.6 percent to 3.53 trillion yuan during the same period.The country's CPI rose 2.4 percent year on year in March, below the government target limit of 3 percent.

SHANGHAI, May 14 (Xinhua) -- Li Yuanchao, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met Friday with Singapore's Minister Mentor Lee Kuan Yew in Shanghai.Li, also president of the CPC's Pudong Cadre College, hailed the development of Sino-Singapore ties since the two states established diplomatic relations in 1990.He pledged to further party-to-party exchanges and cooperation with Singapore in personnel training, urban development and environmental protection.Lee said he hoped the two states would expand cooperation. He delivered a speech at the college.Li is also Minister of the Organization Department of the CPC Central Committee.
HARBIN, May 16 (Xinhua) -- Seven people were killed, and 98 more injured after a tornado and hailstorm struck northeast China's Heilongjiang Province Saturday, a local official source said Sunday.Altogether 8,502 people were affected, among whom 3,684 were evacuated, after 28 townships of Suihua City, about 120 km from the provincial capital Harbin, were hit by the violent weather from 3:15 p.m. to 5:50 p.m. Saturday, Suihua's emergency response office said in a statement.A total of 1,015 houses were toppled down in the tornado, and Minqiang Village of Gongrong township was hit the hardest, with the roofs of every house being uplifted, it said.Five people of Beilin District and one from Suihua's Lanxi County were killed. The strong wind tore through eight townships of Hailun city under the jurisdiction of Suihua, killing one more people."I was cooking at the outer room when the tornado came. I attempted to close the window, but the wind was so strong and fast that the house collapsed before I could close it," said Wang Junxia, a woman from Xinquan Village of Beilin District, Suihua City.Wang was temporarily buried beneath bricks, but she managed to crawl out of the rubble and saved by the rescuers.Relief work was underway.Two hundred quilts and more than 500 kg of bread were sent to the affected Beilin District.
LUANDA, May 28 (Xinhua) -- Angolan President Jose Eduardo dos Santos on Friday held talks with visiting Chief of the General Staff of the Chinese People's Liberation Army Chen Bingde, officials with the military delegation told Xinhua.Welcoming Chen to visit Angola, President dos Santos said the two countries enjoyed friendly ties and Angola appreciated China's assistance to the Angolan people and armed force.The president said Angola attached importance to cooperation with China in various fields, and hoped to build up a sound and working mechanism on staff training and infrastructure construction to promote military ties between the two countries.Chen extended best wishes and cordial greetings from Chinese President Hu Jintao, and he stressed the friendly cooperation between China and Angola fell in line with the common interests of the two peoples, and also contributed to peace and stability in the world community.He said, military cooperation, as part of overall cooperation between China and Angola, has been developing smoothly, and the Chinese military was ready to promote friendly cooperation with the Angola armed forces under the new international circumstances.Chen arrived in Luanda on Wednesday for a three-day visit on the second leg of his three-nation tour on the African continent. He flew in Luanda from Namibia and was also expected to leave for Tanzania on Saturday. Briefing reporters on Chen's mission, Chinese Ambassador Zhang Bolun said China hoped to strengthen bilateral military cooperation in the areas of staff training and equipment supply, and Chen's visit to Luanda was conducive to strengthening military ties between the two countries, including exchange of institutional delegations, staff training and so on.
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