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BEIJING, May 28 -- China's economy can maintain a steady growth above 8 percent for a relatively long period because of a stable society, a vast market and ample capital, said Cheng Siwei, an economist and former vice chairman of the Standing Committee of the National People's Congress.    "China's economy can stay in the fast developing track if we work hard and pay enough attention to existing problems," Cheng said at a three-day forum with the theme of "Economic globalization and the choice of Asia: transition, growth and welfare" Wednesday in Shanghai.     "Social stability is crucial to economic development while China has a market of 1.3 billion people, which creates a huge consumption power," said Cheng. "Meanwhile, China's foreign reserves have reached US.68 trillion, and it has built up an ample capital pool."     China also beefed up its efforts to improve education and expand its coverage, which paved the way for sustainable economic development, he said, but added that there were problems China could not afford to ignore. File photo of Cheng Siwei    One of them was the yawning gap between the rich and the poor. The income of urban residents has tripled that of rural households while the purchasing power in cities was four times larger than that in rural areas.     China faced increasing pressure to protect the environment and in securing raw materials and resources for its economy. It also lacks a large pool of senior professionals in finance and management.     "For example, we buy a lot of the United States treasury bonds. It means appointing them (US bond managers) to manage our assets and we only gained a little bit of interest," said Cheng. "We are trying to work on such problems."     Cheng estimated China's per capita GDP can reach US,000 by 2010, US,000 by 2020 and US,000 by 2049, given its economic expansion and a stronger yuan.

GUANGZHOU, June 16 (Xinhua) -- South China's Guangdong Province was facing the threat of serious flooding as two swollen rivers converged in the Pearl River Delta on Monday, resulting in a flood equivalent to a worst in 50 years.     The runoff in Xijiang River was 46,800 cubic meters per second and in Beijiang River 15,200 cubic meters per second before they met each other in Foshan City, according to the Guangdong provincial headquarters of flood control and drought relief, which said this was far higher than normal.     The danger of serious flooding is made worse by the pull from the moon, which is rising to its most powerful point in the month on Wednesday, posing a threat for river embankments across the delta, experts said.     More rains were forecast in the upstream areas of Xijiang and Beijiang Rivers in next two days. Local people row boats in flooded Daoshui Town of Wuzhou City, southwest China's Guangxi Zhuang Autonomous Region, June 16, 2008. As of Monday evening, flood has affected 92 counties, cities and regions in Guangxi. Some 7.54 million people were plagued by the flood with direct economic loss standing at about 4.6 billion RMB yuan (660 million U.S. dollars).     The Guangdong provincial flood control headquarters on Monday ordered local governments to reinforce river embankments in nine cities, including Guangzhou and to prepare to evacuate people in danger. Two buffaloes swim in the Pearl River in Sanshui City, south China's Guangdong Province, June 16, 2008. The first flood peak of the Pearl River passed the Makou hydrometric station in Sanshui on Monday. The water level at the station reached 8.26 meters, 0.76 meters higher than the alert levelThe Pearl River Delta is a major manufacturing base of the country, while Guangdong posted a gross domestic product (GDP) of more than 2.59 trillion yuan (375 billion U.S. dollars) in 2006, ranking the first on the Chinese mainland.     Recent rainstorms and floods have affected 5.76 million people in 17 cities in Guangdong, including 20 deaths and eight missing persons.     Continuous downpours had cut seven national highways and 68 provincial ones in Guangdong, causing an economic loss of 600 million yuan. Seven provincial highways remained paralyzed on Monday while the others have been repaired.     At least 57 people have been killed and 1.27 million people relocated as rainstorms and floods ravaged nine provinces and region in south China and affected 17.87 million people, authorities said on Sunday. Photo taken on June 16, 2008 shows the cracks on the side slope of State Highway No. 321 in Congjiang County, southwest China's Guizhou Province. Immediate survey and preliminary proposal were carried out by the highway administration bureau of Kaili City and local government as soon as cracks were discovered on the side slope after recent heavy rainfallGuangxi Zhuang Autonomous Region bordering Guangdong on Monday also ordered two cities along the Xijiang River to reinforce embankments as heavy rains continued.     More than 70,000 people were relocated on Monday in Guangxi, bringing the total number of relocated people to 916,000. More than 7.5 million people have been affected as of 6 p.m. Monday, the regional civil affairs department said.     Storms hit 12 towns in southern parts of Guizhou Province on Sunday and Monday, leaving more than 400 houses inundated and crops damaged.     Hunan Province to the north of Guangdong on Monday claimed victory in fighting the first flood in the province this year with the flood crest passing the provincial capital of Changsha safely, despite two monitoring stations recorded highest water level in the history.     One people died and another was missing in Hunan's flood, which also toppled down houses and cut off roads.

Jia Qinglin (R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), arrives in Ljubljana, Slovenia, May 10, 2008. Slovenia is the third leg of Jia's current four-nation Europe tour. (Xinhua/Rao Aimin)    LJUBLJANA, May 10  -- China's top political advisor Jia Qinglin arrived in Ljubljana Saturday for an official goodwill visit to Slovenia.     During his visit to Slovenia, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), will meet with Slovenian President Danilo Turk, Prime Minister Janez Jansa and representatives from all walks of life in Slovenian society.     Slovenia is the third leg of Jia's current four-nation Europe tour, which has already taken him to Romania and Hungary, and which will also take him to Croatia.     In a written speech delivered at the airport, Jia said that the people of China and Slovenia cherish good feelings to each other though the two countries are far apart. Since the two countries established diplomatic relations in 1992, they have maintained regular exchange of visits by high-level officials and achieved rich results in cooperation in such fields as trade, economy and culture.     Jia expressed the belief that his visit to Slovenia will contribute to further enhancing understanding and friendship between the two peoples and push forward mutually beneficial cooperation between the two countries in all fields.Jia Qinglin (2nd R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), arrives in Ljubljana, Slovenia, May 10, 2008. Slovenia is the third leg of Jia's current four-nation Europe tour.

XIAMEN, Sept. 7 (Xinhua) -- China's southwestern province of Sichuan needs 1.67 trillion yuan (about 245.6 billion U.S. dollars) for reconstruction after the devastating earthquake on May 12, Huang Xiaoxiang, the province's vice governor, said on Sunday.     "Sichuan is still in need of a large amount of fund despite the efforts of the central government, local governments and other social sectors," Huang told a conference held in Xiamen City, in eastern Fujian Province.     The total funds, including those the central and other provincial governments raised, overseas donations, and lottery earnings, accounted for less than 25 percent of what the reconstruction work demanded. Quake-sufferers carry the re-found living necessities from the shattered houses at the quake-hit area of Huili County, southwest China's Sichuan Province Sept. 3, 2008    Huang said the province would rebuild 4.5 million urban and rural homes, 51,000 km of highways, 5,500 km of railways, 11,700 schools and 9,700 medical institutions.     Apart from that, 2,000 reservoirs, 810 power stations and more than 100,000 hectares of farmland needed to be restored.     The reconstruction work was expected to consume 37 million tonnes of steel, 370 million tonnes of cement, 210 billion bricks and 20 million cubic meters of timer.

JIUQUAN, Gansu, Sept. 25 (Xinhua) -- Chinese President Hu Jintao congratulated the country's space scientists and taikonauts on the successful launch of the manned spacecraft Shenzhou-7 at the Jiuquan Satellite Launch Center on Thursday.     "The successful launch marked the first victory of the Shenzhou-7 mission," Hu told Chinese experts and other work staff at the center after officials declared the spacecraft entered the preset orbit.     "On behalf of the (Communist) Party Central Committee, the State Council and the Central Military Commission, I'd like to extend warm congratulations to all work staff and army forces participating in the mission," said Hu. Chinese President Hu Jintao (front R) shakes hands with the ground crew members after he viewed the launching of the Shenzhou-7 spaceship at the Jiuquan Satellite Launch Center in the northwestern Gansu Province on Sept. 25, 2008. "The Shenzhou-7 mission is the most representative and influential scientific and research practice of our country this year," said Hu. "It's another feat on the Chinese people's journey to ascend the peak of science and technology."     He noted the country's first attempt of extra-vehicular activity entailed greater technical difficulty and urged the staff to continue their efforts.     "I hope you carry on your work unremittingly and focus on the following jobs to achieve a full-scale triumph," said Hu.     The Shenzhou-7 blasted off on a Long March II-F carrier rocket from the launch center in the northwestern Gansu Province at 9:10 p.m..