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BEIJING, June 11 (Xinhua) -- Chinese equities rose slightly Friday after the release of strong May economic data but concerns over policy tightening and other uncertainties left market participants cautious.China's consumer price index (CPI), the main gauge of inflation, increased in May by 3.1 percent from a year ago, the highest rate of increase since November 2008, according to figures released by the National Bureau of Statistics (NBS).The NBS data showed that growth in factory production and investment continued to slow while retail sales, the main gauge of consumer spending, grew 18.7 percent in May year on year from 18.5 percent in April.Affected by slower industrial output growth and higher-than-expected CPI data, the Shanghai Composite Index initially rose but fell in the afternoon to close at 2,569.94 points, up 0.29 percent, or 7.36 points, from the previous close.The Shenzhen Component Index rose 17.11 points, or 0.17 percent, to end at 10,239.33.Total turnover shrank to 152.66 billion yuan (22.35 billion U.S. dollars) from 167.53 billion yuan the previous trading day.Losers outnumbered gainers by 488 to 359 in Shanghai and 572 to 368 in Shenzhen.Analysts believe the slower growth in industrial output was due to recent tightening measures and that the market has turned cautious as the May CPI figure outpaced the 3-percent ceiling the government has set for this year.Lu Ting, China economist at Bank of America-Merrill Lynch, said China's rising inflation may be interpreted negatively by markets.However, according to Yu Yang, an analyst at Galaxy Securities, the CPI is still "under control" and there is little possibility for a rate hike.Analysts also pointed out the decreased turnover volume reflected the fact some investors have taken a wait-and-see attitude ahead of next week's holidays.Chinese markets will be closed from Saturday to Wednesday for the traditional Dragon Boat Festival Holiday.Coal shares led the rise with a 1.8 percent gain as the May producer price index (PPI), a major measure of inflation at the wholesale level, rose 7.1 percent year on year, outpacing the CPI growth.China Shenhua Energy Co., the country's biggest coal producer, climbed 0.78 percent to 23.35 yuan.

BEIJING, July 9 (Xinhua) -- A reception was held here Friday to mark the 49th anniversary of the signing of the Treaty of Friendship, Cooperation and Mutual Assistance between China and the Democratic People's Republic of Korea (DPRK).Abdul'ahat Abdulrixit, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), and DPRK's ambassador to China Choe Pyong Gwan attended the reception hosted by the DPRK embassy in China.

URUMQI, July 30 (Xinhua) -- Rescuers were racing to evacuate more than 800 people still trapped by rain-triggered mountain torrents in a remote valley in China's far west Xinjiang Uygur Autonomous Region late Friday afternoon.Rescuers managed to reach the site in Kuqa County, of Aksu Prefecture, at 1:26 a.m. Friday, about 24 hours after rains and floods stranded more than 1,000 residents, construction workers and tourists in the mountainous area.As of 5 p.m. Friday, more than 170 trapped people, including 120 tourists and some 50 railway construction workers, had been taken to safe places. No casualties had been reported, said a spokesman with the prefecture's committee of the Communist Party of China.The locals dam up at a village of Alaer city in the upper reaches of the Tarim River, northwest China's Xinjiang Uygur Autonomous Region, July 30, 2010. The Tarim River was hit by the largest flood in eight years on Friday.Some 100 more rescuers, carrying drinking water, drugs and food, had been sent to the site. The regional government had dispatched helicopters to drop food and bottled water to the trapped people, said the spokesman.Floods have inundated many roads, as well as damaged three bridges and 12 buildings in the county. More than 13,000 youths from the county were ready to strengthen the dikes to combat flood waters, he said.

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.

ZHENGZHOU, July 2 (Xinhua) -- Three city mayors were suspended from their positions Friday after three mine accidents killed 169 people in central China's Henan Province, said the provincial authorities Friday.Li Endong, mayor of Pingdingshan City, Li Junfeng, vice mayor of the city in charge of work safety, and Shen Qinghuai, vice mayor of Luoyang City in charge of work safety, were suspended Friday, pending investigations, said the provincial committee of the Communist Party of China in a statement.Pingdingshan has seen two deadly accidents since last year. At least 49 miners died after explosives detonated at Xingdong No. 2 Mine on June 21, 2010. Another deadly gas explosion killed 76 people in the Xinhua No.4 pit in Xinhua District on Sept. 8, 2009.Luoyang City was home to a gas blast that killed 44 people in a coal pit in Yichuan County on March 31, 2010.All three mines had been ordered to suspend production before the accidents but somehow operated secretly as a result of possible negligence by the safety watchdogs.