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BEIJING, Oct. 12 (Xinhua) -- A high-profile meeting of the Communist Party of China (CPC) ended on Sunday by concluding that the overall situation of the country's economy was good and the dynamic of economic growth remained unchanged.     "The country's overall economic situation is good. The economy is growing quickly and the financial sector is operating steadily. The basic momentum of the country's economy remains unchanged," said a communique released at the close of the third Plenary Session of the 17th CPC Central Committee. Photo taken on Oct. 12, 2008, shows participants listening during the third Plenary Session of the 17th Communist Party of China (CPC) Central Committee, which was held from Oct. 9 to 12 in BeijingThe four-day meeting focused on issues concerning rural reform and development.     The communique said all Party members should strengthen awareness of crises and face up to challenges as more uncertain and unstable factors emerged in the international economic climate amid deepening financial market turmoil and the slowdown of the world economy.     In the meantime, China's domestic economy featured some notable contradictions and problems, it said. "The most important thing is to do well in the country's own business.     "We should make flexible and careful macro-economic policies. We should step up efforts to boost domestic demand, particularly domestic consumption and keep the economy, the financial sector and the capital market stable.     "We should continue keeping social stability and pushing the country's economy towards sound and fast development," it said.     The meeting also came at a time when the outlook of the world economy became increasingly grim as a result of a serious global financial crisis.     This meeting was significant because it was the third Plenary Session of the 11th CPC Central Committee 30 years ago that pushed the country on to the road of its historic reform and opening-up drive.

BEIJING, Oct. 2 (Xinhua) -- Tropical storm Higos, the 17th this year, will drop heavy rain on parts of south China's Guangdong and Hainan provinces over the next two days, the National Meteorological Observatory said on Thursday.     The office advised everyone in those regions to prepare for therain, as well as lightning storms and gale-force winds.     Tourists in coastal cities of the island province of Hainan, such as Sanya and Bo'ao, have been advised to avoid offshore activities over the next three days.     Higos was centered about 700 km southeast of Zhuhai, Guangdong,as of 5 p.m. on Thursday, and it was moving north-west at 20 km per hour. Tourists stay at the beach in Haikou, capital of south China's Hainan Province, on Oct. 2, 2008. Tropical storm Higos, the 17th this year, is moving towards south China's island province of Hainan, the provincial meteorological station said on Thursday, affecting the ongoing National Day holidays.    The storm is gaining momentum as it nears eastern Hainan and the mid-west regions of Guangdong, according to the national observatory.     Higos, which formed on Tuesday in the Pacific Ocean, comes on the heels of storms Jangmi and Hagupit, which together killed some 20 people in China

BEIJING, June 19 (Xinhua) -- China's top economic planner announced Thursday night the country will raise the prices of gasoline, diesel oil, aviation kerosene and electricity, revealing an unprecedented broad plan to raise energy prices.     Beginning Friday, the benchmark gasoline and diesel oil retail prices will be marked up by 1,000 yuan (144.9 U.S. dollars) per tonne, with the price of aviation kerosene up by 1,500 yuan per tonne.     The prices of natural gas and liquefied petroleum gas, however, would be left unchanged, according to the National Development and Reform Commission (NDRC).     The benchmark retail prices of gasoline and diesel oil would be lifted to 6,980 yuan and 6,520 yuan per tonne, up more than 16 percent and 18 percent respectively.     The price rises also translate into mark-ups of 0.8 yuan and 0.92 yuan per liter, the measurement used at service stations in China, for gasoline and diesel oil respectively.     The commission said the oil price adjustment was made to ensure supplies in the country by diminishing the gap between continuously rising international crude prices, especially since February, and state-set domestic oil prices.     Crude oil price on the international market reached above 136 U.S. dollars per barrel on Wednesday, up more than 45 percent from the price when the country raised oil prices in November last year. An employee changes the cards showing the prices of refined oil at a gas station in Beijing on the early morning of June 20, 2008The government-controlled oil prices on domestic market should be blamed for a shortfall of supplies, as some refineries stopped or cut back on processing to avoid losses, said an unidentified NDRC official.     The commission said more subsidies would be offered to farmers, public transport, low-income families and taxi drivers to cushion the crunch of price rises.     For instance, farmers would get five yuan per mu (1/15 hectare)of farmland in extra subsidy; low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for such rural families.     The commission said fares for passenger travel by rail, urban and rural public transport and taxis would remain unchanged after the rise.     The official did not comment on the impact of oil price rises on the inflation rate, which eased to 7.7 percent in May. In April, it rose 8.5 percent after a 12-year high of 8.7 percent in February.     The commission also said the average electricity tariff will be raised by 2.5 cents per kwh starting from July 1, up 4.7 percent on average.     It said the price rise was made in response to rising costs of the country's power plants, including rising power-coal prices, increased costs on desulphuration facilities and investment in grid upgrading.     More than 80 percent of all the power generation companies suffered losses in the January-May period due to power-coal price rises.     Official statistics showed that power coal prices went up by more than 80 yuan per tonne in the past two years. The prices had gone up by 60 yuan since the beginning of the year.     The commission also announced the country would exercise temporary price intervention on power coal as of Dec. 31, and power coal prices are capped below the price on June 19.     The policy was adopted as the commission expected the power-coal price to rise further because of the gap between domestic and international prices and tight supplies.     The commission also said urban and rural residents and sectors of farming and fertilizer production, as well as the quake-hit provinces of Sichuan, Shaanxi and Gansu, will be exempt from the price rise.     Industrial and commercial undertakings, however, would only see limited impact, as power expenses usually account for a small portion of their total costs, it said.     "The price rise in electricity would not have a fundamental impact on the country's inflation rate," said the NDRC official.

BEIJING, May 28 -- China's economy can maintain a steady growth above 8 percent for a relatively long period because of a stable society, a vast market and ample capital, said Cheng Siwei, an economist and former vice chairman of the Standing Committee of the National People's Congress.    "China's economy can stay in the fast developing track if we work hard and pay enough attention to existing problems," Cheng said at a three-day forum with the theme of "Economic globalization and the choice of Asia: transition, growth and welfare" Wednesday in Shanghai.     "Social stability is crucial to economic development while China has a market of 1.3 billion people, which creates a huge consumption power," said Cheng. "Meanwhile, China's foreign reserves have reached US.68 trillion, and it has built up an ample capital pool."     China also beefed up its efforts to improve education and expand its coverage, which paved the way for sustainable economic development, he said, but added that there were problems China could not afford to ignore. File photo of Cheng Siwei    One of them was the yawning gap between the rich and the poor. The income of urban residents has tripled that of rural households while the purchasing power in cities was four times larger than that in rural areas.     China faced increasing pressure to protect the environment and in securing raw materials and resources for its economy. It also lacks a large pool of senior professionals in finance and management.     "For example, we buy a lot of the United States treasury bonds. It means appointing them (US bond managers) to manage our assets and we only gained a little bit of interest," said Cheng. "We are trying to work on such problems."     Cheng estimated China's per capita GDP can reach US,000 by 2010, US,000 by 2020 and US,000 by 2049, given its economic expansion and a stronger yuan.

BEIJING, July 15 (Xinhua) -- A senior official of the Communist Party of China (CPC) said here Tuesday that China values its relations with South Africa and would like to work together with the latter to expand bilateral exchanges and cooperation and enhance the understanding and friendship between their peoples.     Wang Gang, member of the Political Bureau of the CPC Central Committee, made the remarks while meeting with Blade Nzimande, secretary general of the South African Communist Party (SACP).     China and South Africa have maintained close high-level visits,frequent exchanges, fruitful cooperation, and coordination in international affairs since their diplomatic relations began in 1998, Wang said. Wang Gang (R), member of the Political Bureau of the Communist Party of China (CPC) Central Committee, meets with Blade Nzimande (L), secretary general of the South African Communist Party (SACP), in Beijing, capital of China, July 15, 2008    Hailing the SACP's contribution in promoting political, economic and social development in South Africa, Wang said the CPC and the SACP, with a long-term friendship, have verified the levels and forms of party-to-party exchanges and enriched their content in recent years.     "The CPC would like to continuously develop friendly cooperative relations with the SACP and jointly push forward the China-South Africa strategic relationship," Wang said.     Wang also briefed the guests on China's economic and social development, Sichuan earthquake relief work, and preparatory work for the Beijing Olympic Games in August.

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