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BEIJING, July 24 (Xinhua) - China's economy is unlikely to see a "double dip" in the second half of this year, and the economic growth for the remaining six months is expected to surpass 9 percent, according to a Bank of Communications report released Saturday.China's economic growth will slow down in the next half year, while consumer prices would fall from its peak, said the nation's fifth largest commercial bank in a report on the outlook of China's economy for the second half of 2010"For China, it is never a recession unless the economic growth drops below 7 percent," said Lian Ping, chief economist with the Shanghai-based bank.The growth is sustainable and healthy for the economy as the growth rate stays around 9 percent, he said.China's exports, a major force driving the economic growth, would continue to rebound in the second half, and the growth for the entire year would stay above 20 percent, according to the report.For the latter half of 2010 consumption is to grow by 18.5 percent from a year ago while investment growth will drop steadily to about 21 percent due to government support to the private sector and strategic emerging industries, it said.Increasing labor costs, resources and food prices is expected to push up China's consumer prices, but the growth would be restrained in the second half due to the slowing money supply and eased imported inflationary pressures, it said.China's gross domestic product (GDP) expanded 11.1 percent in the first six months of this year from one year earlier, data from the National Bureau of Statistics (NBS) showed.China's consumer price index stood at 2.6 percent in the first half of 2010, according to the NBS, while retail sales and fixed asset investments grew 18.2 percent and 25 percent year on year, respectively.China would maintain a stable monetary policy for the rest of the year since the global economic condition is still complicated, and an interest rate hike is unlikely to be seen, said the report.The bank estimated that new loans for the entire year would stand between 7 to 8 trillion yuan (1.03 trillion to 1.18 trillion U.S. dollars).The bank also forecasted in the report that the Chinese government would remain tough with the property sector, but there is little possibility for additional curbs on the market. Property investment would largely fall, but there will not be a significant decline in property prices.Lian suggested that the Chinese government pay attention to the possible cumulative effect of policies on the economy and keep market liquidity at a reasonable level.

BEIJING, Aug. 22 (Xinhua) -- China's consumer price index (CPI), one of the main gauges of inflation, will peak in August before starting to fall in the following months of the year, an economist said Sunday."The CPI is likely to surpass 3.3 percent in August but that will be the highest level for the year," said Lian Ping, chief economist at Shanghai-based Bank of Communications.He said commodity prices will remain relatively low in the short term as market concern about a weak economic recovery linger and as the European debt crisis spreads.Chinese inflation will also ease due to China's slower economic growth rates and a fall in the price of industrial goods, Lian added.However, long-term inflationary pressures cannot be ruled out, due to potential rises in the cost of food, labor and natural resources, he said.Lian said he expects inflationary pressures to grow in March and April next year.Largely on the back of rising food prices after widespread flooding wrecked crops and disrupted shipping, China's July CPI rose 3.3 percent from a year earlier, the fastest rate since October 2008.The CPI for the first seven months of the year stood at 2.7 percent, below the whole-year target of 3 percent.

CHANGSHA, Aug. 2 (Xinhua) -- Ten people have been confirmed dead after two manganese mines in central China's Hunan Province were flooded two weeks ago, local authorities said Monday.Water gushed into the two mine pits run by Leixin Mining Development Co. and Wenhua Manganese Co. in Huayuan County of Xiangxi Tujia-Miao Autonomous Prefecture at about 6:10 p.m. on July 20, trapping a total of 13 miners underground.Rescuers pulled three miners alive out of the mines on July 29 and sent them to hospital. Currently, they are in stable condition, a spokesman with the Hunan Provincial Work Safety Administration said Monday.Rescuers had earlier retrieved seven bodies, and they found the last three bodies on Sunday morning, the spokesman said.Local authorities are further investigating the cause of the accident, he added.

BEIJING, July 24 (Xinhua) -- Chinese telecom equipment giant Huawei Technologies said Motorola's charges of stealing confidential information about its cellular network equipment is groundless, the China Daily reported Saturday.Motorola on Wednesday said one of its former staff engineers, who now works with a Huawei reseller called Lemko, had provided information about a new transceiver and other Motorola technology to Ren Zhengfei, the founder of Huawei Technologies, the newspaper said."The complaint is groundless and utterly without merit. Huawei has no relationship with Lemoko, other than a reseller agreement," Huawei wrote in an e-mail to the newspaper, adding that it will defend themselves against these baseless allegations.The Chinese telecom equipment company had been planning to tap into the United States market via acquisitions.It is believed Huawei is interested in deals including a 1.2-billion-U.S. dollar Nokia Siemens Networks (NSN) purchase of the wireless network assets from Motorola, and Ericssons's 1.13-billion-U.S. dollar takeover of Nortel Networks' mobile unit, according to the newspaper.Wang Yuquan, senior consultant with research firm Frost&Sullivan China, told the newspaper that though Huawei has not been successful in its efforts in the U.S. market so far, it may gain some of the customers impacted by the NSN takeover.