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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.

HANGZHOU, July 4 (Xinhua) -- A new regular direct passenger sea route between the Chinese mainland and Taiwan was officially opened Saturday after a ship safely returned from Taiwan.The passenger ship, Coscostar, returned to the Damaiyu Port, Taizhou City of eastern Zhejiang Province Saturday, making it the second port on the mainland that has served the regular direct sea route with Taiwan, said He Jinliang, deputy head of the city's Taiwan affairs office.On June 26, the ship, carrying more than 500 passengers, traveled about 302 km to the Keelung Port of Taiwan, He said.With a tonnage of 26,800, the ship, owned by the China Ocean Shipping Companies Group, could carry about 600 passengers, 256 containers and 150 automobiles.The COSCO Star Passenger Ro-Ro Ship is berthed inside the Dabaiyu Port, prior to its maiden voyage to Keelung of Taiwan, at Taizhou City, east China's Zhejiang Province, June 26, 2010.The ship is scheduled to shuttle once a week. It will depart from Damaiyu in Yuhuan County on Saturday night and return the following Friday. The single trip would take eight to nine hours, traveling at various speed.Wang Yihao, deputy head of Yuhuan County, said the standard ticket costs 600 yuan (88.6 U.S.dollars) and the deluxe class ticket costs 1,000 yuan."The prices are nearly half that of airline tickets. With this new route, cross-Strait travel will be much easier, more comfortable and will attract more mainland tourists to Taiwan," Wang said.In August 2009, the first regular direct sea route was launched to link eastern Fujian Province's Xiamen Port and Taiwan's Taichung Port and Keelung Port.

HAVANA, July 31 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi on Saturday said that China and Cuba share profound traditional friendship and huge potential for boosting bilateral cooperation.In an interview on his ongoing trip to the Caribbean island state, Yang spoke highly of the friendship between the two countries, which he said has been deeply rooted in the hearts of the two peoples.Noting that Cuba was the first Latin American country to establish diplomatic ties with China, the top Chinese diplomat said that the China-Cuba relations, characterized by friendly cooperation of mutual benefits, have stood various tests during the past five decades despite the constant changes of the volatile international situation. Cuba's leader Raul Castro (R) meets with visiting Chinese Foreign Minister Yang Jiechi in Havana, capital of Cuba, Aug. 1, 2010.Meanwhile, recent years have seen the two countries gain mounting momentum in the development of their relations and the two peoples show increasing readiness for more exchange and cooperation, Yang added.

BEIJING, Aug. 19 (Xinhua) -- Chinese State Councilor Liu Yandong said on Thursday China would strive to set up a scientific and effective system for the protection of the country's intangible cultural heritage (ICH).Governments at all levels must take the initiative in safeguarding ICH and, incorporate it into the work agenda and assessment system of officials, said Liu at a ceremony awarding certifications for China's UNESCO ICHs in Beijing.She called for enacting related laws and regulations, as well as resolute measures to prevent the ravaging and destruction of ICHs by over-exploitation for economic purposes, such as tourism.She also called for more funding and international cooperation in safeguarding ICHs.China is a country with a rich cultural heritage. So far, a total of 29 cultural heritage categories have been included in the UNESCO ICH list.

BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.