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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. 23 (Xinhua) -- Chinese President Hu Jintao appointed a new representative and ambassador to the World Trade Organization(WTO) and a new ambassador to Myanmar, according to a statement from the Standing Committee of the National People's Congress (NPC) on Thursday.Yi Xiaozhun, 59, previously a vice commerce minister, was appointed representative and ambassador to the global trade body, replacing 64-year-old Sun Zhenyu, who was the country's first WTO representative since China's accession to the WTO in Dec. 2001.Li Junhua was appointed ambassador to Myanmar, succeeding the 54-year-old Ye Dabo.Prior to Thursday's appointment, Li was deputy director of the International Organizations and Conferences Department of the Chinese Foreign Ministry.The appointment was in line with the decision made by the Standing Committee of the NPC, China's top legislature.

BEIJING, Nov. 24 (Xinhua) -- Vice President Xi Jinping's visit to Singapore, South Africa, Angola and Botswana on Nov.14-24 achieved the goals of "consolidating traditional friendship, expanding strategic mutual trust, deepening substantial cooperation and boosting common development," Vice Foreign Minister Zhai Jun said Wednesday.The visit, which was conducted on the occasion of the 20th anniversary of the establishment of diplomatic relations between China and Singapore and the 10th anniversary of the establishment of the Forum on China-Africa Cooperation, has been given prominence by local and international media, Zhai said.During the visit, Xi exchanged views with the heads of states and governments and parliament leaders of the four nations and summed up the experience and achievements in the development of their bilateral ties.He met with people from all walks of life and attended a series of signing ceremonies of bilateral cooperative agreements on trade, energy, finance and culture, Zhai said.Xi also addressed a reception marking the 20th anniversary of the establishment of diplomatic relations between China and Singapore and gave a speech at the opening ceremony of a seminar on the 10th anniversary of the Forum on China-Africa Cooperation.During a stopover in Spain's Balearic Island Mallorca on his way home, Xi met Spanish Foreign Minister Trinidad Jimenez with whom he exchanged views on China-Spain and China-Europe relations.The Chinese vice president also met with representatives from local embassies, Chinese enterprises, Chinese medical teams and overseas Chinese people and students.Great achievements have been made during Xi's visit which was compact but effective and pragmatic, Zhai said.
BEIJING, Dec. 25 (Xinhua) -- Top Chinese political advisor Jia Qinglin Saturday called for strengthening work in cities to assure the nation's ethnic unity is maintained.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the call in a written instruction to a seminar held on Friday and Saturday in Ningbo City, Zhejiang Province, to discuss increasing ethnic unity in urban areas.He urged officials to strengthen the management of ethnic work in cities in line with law, ensure decent services to people of all ethnic groups, and promote the education of ethnic unity to realize the prosperity and co-development of all ethnic groups in China.Speaking at the seminar, Vice Premier Hui Liangyu ordered officials of city level governments to properly deal with ethnic issues to speed the progress of national unity.Hui noted that ethnic work in urban areas played a vital part in China's overall ethnic work, and the improvement of urban ethnic work is more important and urgent than ever.He urged all-out efforts be taken to ensure the legal interests of ethnic people and resolve the difficulties and problems they encounter at work and in life in general.
Hu also met Prime Minister Jose Socrates and parliament speaker Jaime Gama. They reached important consensus on boosting the comprehensive strategic partnership between the two countries.China and Portugal established the comprehensive strategic partnership in 2005. Bilateral relations have developed steadily in recent years.The leaders recalled developments of bilateral ties since the establishment of diplomatic relations 31 years ago, and outlined the blueprint for future bilateral ties and pragmatic cooperation. They exchanged views on major international and regional issues of common concern.The two sides signed cooperation agreements in culture, technology, tourism, electricity, telecommunications and finance.The presidents of the two countries agreed to make joint efforts to further deepen the comprehensive strategic partnership.Hu said China and Portugal need to make concerted efforts to further boost their five-year-old comprehensive strategic partnership against the backdrop of complex and volatile international situation.Hu made a four-point proposal, calling on the two sides to strengthen mutual political trust and strategic cooperation.He expressed confidence that Portugal will continue to play an active and important role in the development of China-European Union relations.Hu also called upon the two sides to shore up economic cooperation and try to double bilateral trade by 2015.Hu said the two sides should step up people-to-people exchanges and communication and cooperation in international affairs.Silva agreed with Hu's views, saying that the establishment of the comprehensive strategic partnership between the two countries in 2005 was a milestone in Portugal-China relations.Silva expressed his wishes for both sides to further tap potential in bilateral trade and investment and expand cooperation.He also spoke highly of China's crucial role in boosting world peace and development and its contributions to fighting the global financial crisis and promoting the recovery of the world economy.Portugal expects China to play a more important role in such issues as the reform of the international monetary system and climate change, said Silva.Portugal, taking advantage of its recent election as a non-permanent member of the United Nations Security Council, is willing to strengthen cooperation and coordination with China in coping with global challenges, he said.The Portuguese president also pledged his country's efforts to boost relations between Europe and China.
来源:资阳报