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BEIJING, Dec. 24 (Xinhua) -- China's State Food and Drug Administration (SFDA) on Friday moved to overhaul the supervision over country's dairy products in a bid to ensure food safety before the major Chinese festivals.Local food and drug administrations have been ordered to increase supervision over the trade and consumption of diary products and ensure that dairy products are not mixed with non-edible substances or food additives,read a notice posted on the SFDA's website.The SFDA asked restaurants to keep dairy product suppliers' contact information as well as valid documents which could help authorities identify the quality, specifications and expiration date of dairy products.Year-end is always a peak season for the Chinese to dine out, either with families or colleagues. The Spring Festival, or the Chinese lunar new year and the most important festival for the Chinese, falls on February 3.China's dairy industry was marred by a scandal in 2008, in which at least six infants died and almost 300,000 became ill across the country after consuming dairy products tainted with the industrial chemical melamine.To restore consumer confidence, the Chinese government launched a nationwide safety overhaul of dairy products in November 2008.

BEIJING, Jan. 11 (Xinhua) -- China's express delivery topped 10 million pieces per day as of the end of 2010, ranking the third most deliveries in the world, the State Post Bureau (SPB) said on Tuesday.Some 2.4 billion pieces were handled in 2010, an increase of 1.5 times from five years ago. Also, revenues jumped two fold from the level in 2005 to 57.3 billion yuan (8.68 billion U.S. dollars) last year.Despite the increase, China's per capita figure was less than two pieces per day, less than the international average of 4.1 pieces.SPB vowed to improve the policy environment to facilitate industry innovations and build competitive enterprises in the global market.

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.

TOKYO, Nov. 12 (Xinhua) -- Chinese President Hu Jintao arrived in Japan Friday for the 18th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC), which is slated for Saturday and Sunday in Yokohama.Hu and his wife, Liu Yongqing, were welcomed by senior officials from the Japanese Foreign Ministry at Haneda airport.Chief Executive Donald Tsang of the Hong Kong Special Administrative Region and Chinese Ambassador to Japan Cheng Yonghua were also present at the airport to greet Hu.President Hu, who flew into Tokyo from Seoul after attending the fifth summit of the Group of 20 (G20), was traveling by car to Yokohama.With the theme of "Change and Action," this year's Economic Leaders' Meeting will focus on the regional economic integration, a growth strategy for the Asia-Pacific region, human security, the economic and technical cooperation, and the assessment of achievement of Bogor Goals by APEC economies, according to the meeting agenda.The Bogor Goals call for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies. These goals were adopted by leaders at their 1994 meeting in Bogor, Indonesia.President Hu will speak at the meeting to present China's view on these issues, Chinese officials said.Before the Economic Leaders' Meeting, the Chinese president will deliver a speech at the APEC CEO Summit, Chinese officials said.APEC is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region.Since its birth in 1989, APEC has grown to encompass 21 members spanning four continents, and represents the most economically dynamic region in the world, accounting for approximately 40 percent of the world's population, around 50 percent of world GDP and about 44 percent of world trade.APEC's 21 member economies are Australia, Brunei, Canada, Chile, China, China's Hong Kong, Chinese Taipei, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Thailand, the United States and Vietnam.

BEIJING, Jan. 14 (Xinhuanet) --The country's GDP growth rate will slow to 8.7 percent this year from 10 percent in 2010, and a key challenge in 2011 will be to ensure that anti-inflationary measures do not "significantly" reduce growth, the World Bank said on Thursday.The bank estimates that global GDP, which expanded by 3.9 percent in 2010, will slow to 3.3 percent in 2011, before reaching 3.6 percent in 2012. Developing countries will continue to outstrip growth in developed countries, it said.Amid credit-tightening measures to combat inflation and surging property prices, China's growth is expected to ease to 8.4 percent in 2012, the bank said.Despite the slowdown, China will spearhead Asia's economic expansion. According to the bank's forecast, the overall growth rate for developing Asian economies will ease to 8 percent from last year's 9.3 percent as governments rein in credit to cool inflationary pressures."For China, a big concern is how to ensure a soft landing of the economy without significantly reducing growth when the government takes measures to curb inflation," said Hans Timmer, director of development prospects at the World Bank.The consumer price index (CPI), a main gauge of inflation, accelerated to a 28-month high of 5.1 percent in November from a year earlier and most economists predict that it will be in the region of 4 to 4.5 percent this year.In a bid to combat inflation, the central bank hiked interest rates by 25 basis points twice in the last quarter of 2010.Ardo Hansson, lead economist of the World Bank's Beijing Office, said the country needs more flexibility in its foreign exchange policy to fight inflation.China's central bank set the yuan's mid-point beyond 6.60 against the US dollar for the first time on Thursday, breaching an important barrier just days before President Hu Jintao's visit to the United States next week.The People's Bank of China set the mid-point, from which the currency can rise or fall 0.5 percent on a given day, for daily trading against the dollar at 6.5997, the first time it had broken through 6.60.The yuan has risen around 3.6 percent since June when authorities dropped a peg with the US dollar that had been set to support the economy during the global financial crisis.Some US politicians have been pressing China to allow the currency to rise at a faster pace to help narrow a trade gap.US Treasury Secretary Timothy Geithner repeated his call on Wednesday for a faster appreciation of the yuan and added that such a move could lead to an easing of restrictions on US technology exports to China, with both civilian and military use."The recent quickened pace of yuan appreciation could be considered as a gesture by the Chinese government before Hu's visit to the US," said Dong Xian'an, chief macroeconomic analyst with Industrial Securities.According to Dong, the yuan will appreciate by 5 to 6.6 percent this year, "a moderate pace".Wang Tao, chief China economist at UBS Securities, said they expected the currency to grow by 5 percent in 2011.The yuan can now be increasingly used in cross-border transactions, in a bid to reduce dependence on the US dollar after Premier Wen Jiabao said in March that he was "worried" about holdings of dollar-denominated assets.The central bank is allowing banks and enterprises in areas that carry yuan-settled trade to use yuan-denominated investment overseas directly, it said in a statement on its website on Thursday, describing the initiative as a pilot program.According to data from HSBC, the average monthly volume of yuan-settled trade surged from 0.6 billion yuan ( million) in 2009 to 68 billion yuan between June and November 2010. And one-third of China's cross-border trade may be settled in yuan by 2016, as the government pushes for the internationalization of the currency.