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BEIJING, May 30 (Xinhua) -- Growth in China's consumer price index (CPI) is likely to see a reverse "V" shape this year and the possibility of a serious inflation is easing, said Ha Jiming, chief economist at the China International Capital Corp. (CICC).Speaking at an investor education activity in Beijing Saturday, Ha expected China's CPI to increase 3.2 percent in May from a year earlier, and said the CPI annual growth rate would even peak at 4 percent in June and July.The country's CPI rose 2.4 percent year on year in March and the growth for April accelerated to 2.8 percent, according to statistics from the National Bureau of Statistics.The pick-up in CPI growth was a result of lower comparison base last year and the risk for a serious inflation in short term was defusing because both the global commodity prices and domestic meat and vegetable prices were falling, he said.In China, food prices accounted for one third of the CPI weight.The CICC has cut its estimate for China's economic growth this year to 9.5 percent from 10.5 percent, he said.Interest rate hikes would be unlikely this year as growth in consumer prices was expected to fall in the second half, he said.

BRASILIA, April 15 (Xinhua) -- Chinese President Hu Jintao met his Russian counterpart Dmitry Medvedev Thursday in Brasilia to discuss bilateral ties and other important issues of common concern.It was the first meeting between the two leaders since they met on the sidelines of the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Singapore last November.Hu and Medvedev were meeting on the sidelines of a summit of BRIC nations, namely Brazil, Russia, India and China.At the BRIC summit slated for Thursday, leaders of China, Brazil, Russia and India will discuss the global economy and financial situation, reform of the international financial system, climate change and cooperation among the four countries. Chinese President Hu Jintao (R) meets with Russian President Dmitry Medvedev in Brasilia, Brazil, April 15, 2010. In recent years, China and Russia have strengthened their strategic cooperative partnership with enhanced mutual political trust, and fruitful cooperation in all sectors. The countries also have had close interaction and coordination in dealing with international and regional affairs.Last year witnessed the celebration of the 60th anniversary of diplomatic ties between China and Russia, as well as the hosting of the "Year of Russian language" in China, which brought about new breakthroughs in the Sino-Russian strategic partnership of cooperation.Despite some impact on bilateral trade by the global economic crisis, the quality of bilateral economic cooperation between China and Russia has improved, with trade structure optimized and significant progress achieved in energy sector cooperation."Relationship with Russia is one of the priorities of China's diplomacy. The two countries have enjoyed mutual support on issues that concern each other's core interests," Chinese Foreign Minister Yang Jiechi said at a press conference on March 7.Last year, the two countries signed a series of important cooperation agreements covering oil, natural gas, coal, electricity, nuclear energy and high-speed rail, said Yang, adding that the relevant cooperation projects are now well underway."We expect the China-Russia oil pipeline project to be completed by the end of this year and the pipeline will enter into operation next year. Moreover, the two countries are also committed to promoting cooperation between China's northeast region and Russia's Far East and eastern Siberia region," the minister said.

BRISBANE, Australia, April 4 (Xinhua) -- All the crew members are safe after a Chinese coal ship ran aground off the eastern coast of Australia on Saturday, said Chinese Consul-general in Brisbane Ren Gongping on Sunday.Ren told Xinhua that the 230-meter-long bulk coal carrier Shen Neng 1 ran aground about 70 km east of Great Keppel Island in Queensland State shortly after 5 p.m. on Saturday.The vessel, carrying 950 tons of heavy fuel oil and 65,000 tons of coal, is bound for China.Ren said he had phoned the captain of the carrier, Wang Jichang, who told Ren that drinking water and food are enough for the 23 crew members. The incident caused no injuries to the crew.The consul-general said the captain told him the incident is not serious and repair is underway.Ren added that he was very much concerned about the safety of the Chinese crew and he had contacted the local police immediately after learning the incident. The police had assured Ren that they would try their best to safeguard the crew in case of an emergency.Three police ships have reached the area and are ready to take the crew to safe place from the coal carrier.