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BEIJING, July 11 (Xinhuanet) -- The pace of China's import growth in June fell to its lowest level in 20 months as tightening monetary policies kicked in, resulting in the biggest monthly trade surplus this year, official statistics show.Import growth is expected to slow in the coming months, thanks to the broad impact of the tightening measures, before picking up in the last quarter, economists predicted.According to the General Administration of Customs (GAC), imports rose 19.3 percent, from a year earlier, to 9.7 billion, the weakest since November 2009.Exports rose 17.9 percent and despite this being the smallest increase since last December they reached a record high of 1.9 billion.The decline in import growth has led to a widening trade surplus, .3 billion in June compared to .1 billion in May. But in the first six months the trade surplus dropped 18 percent, year-on-year, to .9 billion."Import growth was weaker than expected, as imports for China's processing trade weakened and de-stocking in heavy industry continued," Wang Tao, head of China Economic Research at UBS Securities, said."Recent commodity price drops, including crude oil, also helped lower the import bill," she added.June's net imports of crude oil fell 12 percent from May to 19.43 million metric tons, the lowest since October, amid refinery maintenance and slowing energy demand, according to the GAC figures."Decelerating economic growth and tightening measures to soak up market liquidity have reined in import growth, but it is not a cause for worry," Li Wei, an economist at Standard Chartered Shanghai, said.The government is expected to announce economic growth data for the second quarter on Wednesday. Gross domestic product growth is widely predicted to slow from 9.7 percent for the first quarter."The slowdown in import growth will last two to three months or even longer due to both falling demand and possible commodity price drops," Li said.Zhong Shan, vice-minister of commerce, said recently that imports will slow down in the second half, citing the government's measures to cool the economy.The central bank has raised interest rates five times since mid-October, with the latest on July 7, and increased the reserve requirements for commercial banks, the amount they have to set aside, nine times since November. The consumer price index, a major gauge of inflation, surged to 6.4 percent last month, the highest in three years.Zhao Fudi, GAC spokesman, said in an online broadcast on Sunday that higher prices are increasing inflationary pressure, leading to a 14.7 percent gain in the overall price of imported commodities in the first half.Imports surged 27.6 percent year-on-year to 9.4 billion from January to June, as commodity prices rose during the first half. Exports increased 17.9 percent in June, down from 19.4 percent in May."This is because of weaker external demand" from developed nations, Wang said.Exports increased 24 percent, year-on-year, to 4.3 billion during the first half, but exports to both the United States and the European Union, China's two major trading partners, rose by only 16.9 percent."The slow recovery of the global economy and the European debt crisis have added uncertainties to export growth," Zheng Yuesheng, head of the GAC statistics department, said.Lu Zhengwei, chief economist at Industrial Bank, believes that the March earthquake and tsunami in Japan hurt China's exports."The disaster cut off China's imports of parts and components used for mechanical and electrical goods, leading to a decline in those exports" which make up a majority of China's exports, Lu said.As Japanese manufacturers resume full production, or come close to it, in September, China's exports will regain momentum, he predicted.Li Wei agreed. "China's exports keep pace with the global economic recovery. And growth will probably see a turnaround in September" when orders for the Christmas season are usually made, Li said.Many companies in China's coastal regions are far from optimistic, citing rising costs in labor and raw materials and yuan appreciation, as well as shrinking demand abroad.Han Jie, deputy director general of the department of commerce in Zhejiang province, said "exporters in Zhejiang have experienced a disappointing first half, and the second half will not be better".

New York, Sept. 23 (Xinhua) -- A Chinese scientist was presented a prestigious U.S. award on Friday for the discovery of artemisinin, a drug therapy for malaria that has saved millions of lives across the globe, especially in the developing world. Pharmacologist Tu Youyou, 81, became the first scientist on the Chinese mainland to win Lasker Award, known as "America's Nobels" for their knack of gaining future recognition by the Nobel committee.Tu, a scientist at the China Academy of Chinese Medical Sciences in Beijing, pioneered a new approach to malaria treatment that has benefited hundreds of millions of people and promises to benefit many times more. By applying modern techniques and rigor to a heritage provided by 5000 years of Chinese traditional practitioners, she has delivered its riches into the 21st century."Not often in the history of clinical medicine can we celebrate a discovery that has eased the pain and distress of hundreds of millions of people and saved the lives of countless numbers of people, particularly children, in over 100 countries," Lucy Shapiro, a member of the award jury and professor of Stanford University, said while describing Tu' s discovery.Shapiro said the discovery, chemical identification, and validation of artemisinin, a highly effective anti-malarial drug, is largely due to the "scientific insight, vision and dogged determination" of Professor Tu and her team. She thought Professor Tu's work has provided the world with arguably the most important pharmaceutical intervention in the last half century."The discovery of artemisinin is a gift to mankind from traditional Chinese medicine," Tu said while receiving the award. "Continuous exploration and development of traditional medicine will, without doubt, bring more medicines to the world."
WASHINGTON, July 8 (Xinhua) -- U.S. President Barack Obama on Friday hailed space shuttle Atlantis' final flight in NASA's shuttle program, saying Americans across the country watched with pride as America reached for the heavens once more.Obama expressed his "sincere gratitude" to Atlantis astronauts and space workers because they "helped our country lead the space age.""Today's launch may mark the final flight of the space shuttle, " Obama said in a statement. "But it propels us into the next era of our never-ending adventure to push the very frontiers of exploration and discovery in space."Friday's flight is the 33rd voyage for Atlantis. Its return to the earth later this month will mark the end of the 30-year shuttle program."What a truly awesome day today," said NASA Associate Administrator for Space Operations Bill Gerstenmaier at the STS- 135 postlaunch news conference. "What you saw is the finest launch team and shuttle preparation teams in the world.""It truly was an awesome, spectacular launch," added Kennedy Space Center Director Bob Cabana, who looked ahead to plans for future development beyond the shuttle program as space station operations continue.Atlantis will be the last shuttle to be retired. Discovery was first in March, followed by Endeavour at the beginning of June. Each shuttle will head to a museum.When the U.S. space shuttle program officially ends later this year, the Russian space program's Soyuz capsule will be the only method for transporting astronauts to and from the station.
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