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BEIJING, Dec. 6 (Xinhua) -- A well-known economist said Monday that the biggest problem in China is not inflation, but shifting its economic structure to maintain sustainable growth."The biggest challenge faced by China is economic restructuring in order to shift the economy to a more balanced way that will provide sustainable economic growth," Stephen Roach, former chairman of Morgan Stanley Asia, told Xinhua."In the post-crisis environment, the shift means to build a consumer-led economy, and that is the overriding challenge in China," said Roach, who currently serves as non-executive chairman of Morgan Stanley Asia.Residents' incomes in China remain at a low level. "People's incomes are only 42 percent of the GDP, whereas in the US the rate is 86 percent. So the government should raise the income of the citizens, especially when China wants to stimulate domestic private consumption," said Roach."Of course, that does not mean the Chinese government should ignore the risk of higher inflation," he said.Official data showed that China's October Consumer Price Index (CPI), a major gauge of inflation, rose to a 25-month high at 4.4 percent."There is a certain amount of momentum to inflation, so it's likely to be the a problem over the next 12 months. If the government acts quickly, it will be able to limit the problem, or else China could be facing this problem in 2012 as well," said Roach.Roach suggested China should take broad and comprehensive approaches in dealing with inflation, and the medium-term goal of the shifted economic structure need to be maintained."The government has to demonstrate its resolve in dealing with inflation, and property market assets. It's a challenge, but I think the government is up to the challenge," according to Roach.

BEIJING, Dec. 23 (Xinhua) -- China will carry out the House Sale Price Statistical Scheme in 2011, after soliciting opinions via the internet earlier this year, said Ma Jiantang, head of the National Bureau of Statistics (NBS) on Thursday.Ma made the remarks at a national statistics work conference, saying the bureau had accepted suggestions from various departments and experts and would work steadily reform the method of calculating the country's house sale prices in 2011."We'll further work with real estate departments, make full use of their network data, and check the authenticity of the data to further push forward the statistical scheme reform," Ma said.The NBS was committed to improve the scheme at the beginning of the year. It released the draft plan on September 25, which said prices, floor areas, and sales of newly-constructed houses in 35 major cities would be based upon data from local real estate departments, instead of independent research.Ma said that the bureau is working on 4 key systems, including building a database for basic surveyed units, one set of standards for surveyed enterprises, data collecting and processing software systems, and direct reporting network systems."The four systems are aimed to guarantee the authenticity, integrity and timeliness of the data," he said.By 2012, above-scale enterprises, above-norm wholesale and retail accommodations and catering businesses, construction enterprises, and real estate enterprises will be able to submit their data directly to a national data center, said the NBS.Also, about 550 cities across the country will use personal digital assistants (PDA) to collect data for the consumer price index (CPI), a major gauge of inflation, as well as farm produce prices, by the end of 2012, the NBS said. 

BEIJING, Dec. 11 (Xinhua) -- China's consumer price index (CPI), a major gauge of inflation, rose to a 28-month high of 5.1 percent in November, the National Bureau of Statistics (NBS) said Saturday.The growth rate picked up from 4.4 percent in October, according to the NBS. The inflation was driven by a 11.7 percent of surge in food prices, which accounts for one third of the basket of goods used to calculate China's CPI.The year-on-year increase in food prices grew from rises of 10.1 percent in October, 8 percent in September and 7.5 percent in August.From January to November, China's CPI rose 3.2 percent year on year, surpassing the government's target ceiling of 3 percent for the year.The producer price index (PPI) for China's industrial products rose 6.1 percent year on year in November, compared with a 5.0 percent gain in October.

THE HAGUE, Nov. 29 (Xinhua) -- "China fully abide by the chemical weapons conventions and is the important state partner," the new Director General of Organization for the Prohibition of Chemical Weapons (OPCW) Ahmet Uzumcu said here on Monday.At the opening ceremony of the photo exhibition about"chemical weapons abandoned by Japan in China"during the 15th session of the Conference of OPCW, Uzumcu told Xinhua, "We are fully aware of the safety risks that these weapons posed to the Chinese people, who are living in the immediate neighborhood of the weapons. Thus we wish the early destruction of the weapons.""As the director general, I am particularly pleased to see the breakthrough of the process and to see the destruction has started on 12th October," Uzumcu said.Uzumcu just finished a visit to China."I was impressed by China's developments in chemical industries." He commended China' s excellent performance of implementing the chemical weapon Convention and the outstanding results followed by.The exhibition with dozens of photos, which is a comprehensive and systematic presentation of the history and the current status of this issue, attracted many visitors."It's very informative and things exhibited here are relatively new to the organization. I have heard a lot about this issue. But this exhibition has made things more come to life. It illustrated the challenges a lot more concretely,"a US representative said."It's a very large number of chemical weapons considered to be abandoned in China. I hope all of them are located, identified, and subsequently they are put in storage, and therefore they be destructed,"a representative from Pakistan said.

DAKAR, Jan. 16 (Xinhua) -- Chinese Vice Premier Hui Liangyu and Senegalese President Abdoulaye Wade have pledged to maintain the good momentum in the development of bilateral ties.During their meeting here on Friday, Hui said since the resumption of diplomatic ties between both countries five years ago, the friendly cooperation between China and Senegal has been showing good momentum, with both sides working together to push forward pragmatic cooperation in the economy and trade and Senegal becoming China's important cooperation partner in Africa.Hui said the national Grand Theater funded and constructed by China, the rehabilitation of regional stadiums and the building of hospitals in Senegal will become new symbols of the friendship between the two countries.Chinese Vice Premier Hui Liangyu (L) meets with Senegalese President Abdoulaye Wade in Dakar, Senegal, Jan. 14, 2011.The Chinese vice premier said facts have shown that the friendly ties are not only in the fundamental interests of the two countries and the two peoples, but also in line with the fundamental interests of China and Africa.He said China is willing to continue working together with Senegal to further strengthen friendly ties, tap potentials of pragmatic cooperation, expand people-to-people and cultural exchanges and push the bilateral ties to a new high.

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