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BEIJING, Dec. 29 (Xinhua) -- China's gross domestic product (GDP) is predicted to grow by around 9.5 percent in 2011, 0.5 percentage points lower compared to the growth rate expected for this year, said a report issued Wednesday by the Bank of China (BOC).The report by the BOC, China's third largest lender, was based on the bank's projections of weak overseas demand, tighter monetary policy, and the government's planned economic restructuring for 2011, the first year of China's 12th five-year plan.The Chinese government announced in early December that it will switch its monetary policy stance from relatively loose to prudent next year to tackle rising inflation and keep economic growth at a sustainable pace.The report also said government policies this year to curb soaring property prices in some major cities, and the country's efforts to improve energy efficiency had slowed the economy with the GDP dropping to 9.6 percent in the third quarter, down from the second quarter's 10.3 percent and 11.9 percent in the first quarter.The report also forecast inflation to rise 4 percent in 2011, compared to the 3.3-percent rise expected for 2010. It said that in the second half of the year, the producer price index (PPI) for China's industrial products had kept rising along with the consumer price index (CPI), adding more inflationary pressure for the future.The Chinese government set a 3-percent target for inflation this year, but looks unachieveable after the index rose 3.2 percent during the first 11 months. Pushed up mainly by rising food prices, the index soared 5.1 percent in November to a 28-month high.The report also predicted new lending next year would be 7 trillion yuan (1.06 trillion U.S. dollars), just slightly down from the 7.5 trillion yuan target set by the government for 2010.Growth rates of retail sales of consumer goods and industrial value-added output would see a slight drop from year 2010, while imports would likely grow by 18 percent, 3 percentage points higher than exports.As inflation triggers wider public concerns, expectations for more hikes in interest rates are strengthening. The report forecast the People's Bank of China, the central bank, would likely hike rates for up to three times next year, mostly during the first half of the year.The central bank on Sunday raised the benchmark one-year lending and deposit rates by 25 basis points for the second time in just over two months. It had also set higher commercial lenders' reserve requirement ratio six times this year in a move to tighten liquidity amid climbing inflation.

BEIJING, Dec. 31 (Xinhua) -- China is poised to further improve its people's livelihoods and promote social equity in 2011, the inaugural year of implementing its development blueprint for the 12th Five-Year-Plan period.Only with deep respect and extensive care for people's wills and interests can a ruling party have inexhaustible support from the people and the country, under the leadership of such a party, can accomplish remarkable achievements in development.China, under the leadership of the Communist Party of China (CPC), is prepared to further deepen reforms in education, health care, housing, public cultural services and enhance investment in people's livelihoods in the new year.Also, more attention of the authorities will be given to protecting the legal rights of China's vulnerable groups and ordinary workers, as well as fulfilling the general public's expectations for a better life.Thanks to the strong leadership of the CPC, China has succeeded in keeping a strong pace in social and economic development over the past year, which marks the perfect conclusion of its well-implemented plan for the last five years (2006-2010).In 2010, China had a relatively rapid economic development. It picked up steps towards economic restructuring and achieved a seventh consecutive year of growth for China's grain output, as well as bettering people's livelihoods, deepening reforms and opening up.China successfully stood the test of natural disasters, including widespread droughts in the southwest region, a 7.1-magnitude earthquake and a huge landslide in northwest Qinghai and Gansu provinces.The government's quick and efficient responses to these emergencies have, for another time, demonstrated the superiority of China's socialism and the great achievements in China's reform and opening up.The country also held the Shanghai World Expo which, attracting 246 participating countries and international organizations and a record number of 73 million visitors, has been hailed as the largest ever such event.Further, the 16th Asian Games held in the southern China city of Guangzhou drew some ten thousand athletes from 45 countries and regions in Asia to compete.The two events provided a splendid picture of how Chinese culture and the world's other cultures co-exist in harmony and displayed a broad-minded and open image of China.All those experiences and achievements China earned in 2010 has set a strong foundation for China to further its reforms and development in the forthcoming five years.A critical period for China to build a well-off society in an all-around way, the coming five to ten years will be a more difficult phase of China's reforms, which will be marked by the interweaving of short-term and long-term problems, structural and systematic problems, as well as domestic and international challenges.That means China will be faced with a more urgent and challenging task in transforming its economic growth mode, improving people's livelihoods and safeguarding social stability.But, basically, China is still within a period of strategic opportunities for its development. China should grasp opportunities for development while tackling challenges.In 2011, China is set to speed up its economic restructuring, with more attention directed to stabilizing its overall price level.China will step up its move towards a coherent and sustainable economic development, maintaining a balance between the speed of development on the one hand, and the economic structure and the quality and efficiency of economic growth, on the other.It is convinced that China, with a strong CPC leadership, will make greater achievements in development in a scientific way and well resolve social and economic conflicts and disputes in 2011, thus advancing the socialism with Chinese characteristics into a brighter future.

WUHAN, Nov.15 (Xinhua) -- Russia and India Monday reiterated their readiness to coordinate with China as it prepares for the third BRIC Summit and related events in 2011.Russian Foreign Minister Sergei Lavrov and Indian Minister of External Affairs SM Krishna made the statements when they met with Yang Jiechi, Chinese Foreign Minister, on Monday.The ministers expressed their determination to work toward strengthening cooperation within the BRIC group, which was acquiring growing importance.During the meeting, Yang said the three countries could cooperate more in safeguarding security in the Asia-Pacific region.Yang said they should insist on common security, resolve disputes in a peaceful way and work together on non-traditional threats to make further efforts on regional security cooperation.The foreign ministers agreed to push forward trilateral practical cooperation and decided the next trilateral foreign ministers' meeting would be held in Russia in 2011."BRIC" is an acronym for Brazil, Russia, India and China.In recent years, the four nations have strengthened dialogue and cooperation, and held frequent exchanges of views on major issues in the international economic and development fields.During the second BRIC Summit in Brazil this year, Chinese President Hu Jintao announced the next BRIC Summit would be held in China in 2011.

BEIJING, Jan. 14 (Xinhua) -- A senior leader of the Communist Party of China (CPC) vowed Friday to enhance bilateral ties with Estonia.Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made this pledge during his meeting with visiting President of the Parliament of the Republic of Estonia Ene Ergma in Beijing.Li praised the recent growth of relations and cooperation between the two nations, saying China values its ties with Estonia and regards the country as an important partner in the Baltic Sea region.China would work to increase the mutual political trust with Estonia, encourage the exchange and communications between the two business communities and strengthen the humanitarian exchange between the two peoples, Li said.Li recalled his visit to Estonia last September and applauded the close contact established between the CPC and the Estonian political parties, expressing his hope that the two sides could step up exchanges and cooperation based on the principles of independence, equality, mutual respect and non-interference in each other's internal affairs.He also briefed the Estonian guests about China's latest economic and social developments.Ergma, who was visiting Beijing at the invitation of Chinese top legislator Wu Bangguo, said Estonia attaches great importance to its relations with China and is expecting to expand cooperation with China in fields such as biology and information technology.The Estonian parliamentary delegation arrived in China on Wednesday. Besides Beijing, the delegation is scheduled to visit the southwestern province of Sichuan and the Hong Kong Special Administrative Region.

MADRID, Jan. 4 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said here on Tuesday that China is likely to buy more Spanish government bonds to help the country deal with market concerns about its solvency.Li made the remarks during a meeting with Spanish Second Deputy Prime Minister and Minister of Economy and Finance Elena Salgado.Li noted that the Spanish government has taken a series of measures to fight the global financial crisis, which will help lift the country out of its severest woes and pave the way for sound economic development in the long run."We believe Spain, with its government and people working together, will surely overcome current economic and fiscal difficulties," he said.Chinese Vice Premier Li Keqiang (L) shakes hands with Spain's Second Deputy Prime Minister Elena Salgado, in Madrid, Spain, Jan. 4, 2011. Li Keqiang arrived here Tuesday at the start of a three-nation tour to Europe. Li said that China, as a long-term and responsible player in the Spanish government bonds market, has not reduced its holdings, and even increased its buying activities amid European debt concerns."We will buy more (Spanish government bonds) depending on market conditions," he said.The Chinese leader arrived in Madrid earlier in the day, kicking off a three-day official visit to Spain.Spain is the first leg of his three-nation European tour, which will also take him to Germany and Britain.