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XI'AN, Oct. 30 (Xinhua) -- Chinese Vice Premier Li Keqiang has stressed the importance of industrial structure upgrading through reforms and innovation in line with scientific development and requirements from accelerating economic growth mode transformation.Li made the remarks while visiting Xi'an, capital of northwestern China's Shaanxi Province from Thursday to Friday.Also, Li said the people's living standards should be improved in economic growth and growth quality and benefits should be upgraded in restructuring, he said.Chinese Vice Premier Li Keqiang (L, front), also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, discusses with a technician on the issues concerning wireless communications at China IWNCOMM Co., Ltd. in Xi'an, capital of northwest China's Shaanxi Province, Oct. 28, 2010. Li Keqiang made an inspection to Xi'an on Oct. 28 and 29.Li visited the Xi'an-based China IWNCOMM Co., Ltd, which ranks among the leading global companies in network security technology.Li said industrialization of scientific results should be promoted in the high-tech sector and emerging strategic sectors should be actively developed to nurture new economic growth points.

XI'AN, Oct. 29 (Xinhua) -- Chinese Vice Premier Li Keqiang on Friday called for more efforts to be made to accelerate the transformation of China's economic growth pattern and achieve "sound and fast" development in the country's central and western regions.He made the remarks in Xi'an, capital of northwestern China's Shaanxi Province, at a work meeting held by the central and western regions for the formulating of the 12th Five-Year Program (2011-2015) guideline (draft).Officials from the central and western regions introduced their development plans for the next five years and put forward their suggestions for the country's next five-year program.Li said China's efforts to expand domestic demand should be based on further opening-up as China had a huge population and a large geographical area.Further, the central and western regions boasted remarkable markets, rich resources and huge growth potential, he said.Boosting growth in both regions was a key task in accelerating the economic growth mode as it could balance regional economic development and help the people of various ethnic groups lead a better life, Li said.China on Wednesday publicized the full text of the Communist Party of China Central Committee's Proposal for Formulating the 12th Five-year Program (2011-2015) for China's Economic and Social Development, which was adopted at the Fifth Plenum of the 17th CPC Central Committee that ended Oct. 18.

BEIJING, Oct. 16 (Xinhua) - China's gross domestic product (GDP) will grow about 9 percent next year, but the economy will be challenged by rising labor costs, liquidity problems and difficulty in sustaining rapid growth in the long run, a senior researcher at the country's top think-tank said Saturday.Liu Shijin, deputy director of the Development Research Center of the State Council, or China's Cabinet, spoke at the OTO Fortune Forum held by the Bank of Communications.As for the year 2010, Liu predicted an annual 10-percent GDP growth due to the economic slowdown in China during the second half of the year.He said China's exports and investments would be much better in 2011 than this year, but the growth rate of consumption would pull back slightly from this year's boom, making 9 percent growth "very likely".To keep its economy on track for sustained growth, however, China still faces three major challenges in the long term, according to Liu's research."The first challenge comes from the rapid rise of labor costs in the country," Liu said, warning: "The competitiveness of Chinese companies will be threatened by rising labor costs unless they find a new source of growth, such as innovation."The second challenge is from liquidity as China's currency, the renminbi, and other non-U.S. dollar currencies are under forced appreciation pressure following the Federal Reserve's considering a new round of quantitative easing of the monetary policy, he said.The greenback, which serves as the world's reserve currency, tumbled against most major currencies this week on expected easing move by the Federal Reserve to pump more money into the U.S. economy next month.Meanwhile, China's economic stimulus package also injected excessive liquidity into the market, pushing up prices of commodities, equities and other land-related assets or resources, he added.The third major challenge concerns whether China can maintain its quick economic expansion in the future, he said.According to Liu's forecast, in the next three to five years China's GDP growth will slow to a moderate speed of around 7 percent from its current 10 percent."Actually, we don't have to be too worried about an economy with moderate expansion," he said, "because the current economic growth is too high for China."

BEIJING, Aug. 30 (Xinhua) -- China and the United States Monday underscored their close economic relationship and called for its healthy growth."China and the United States share very close economic ties," Chinese Vice Premier Wang Qishan told a U.S. delegation led by two Missouri senators - Christopher Bond and Claire McCaskill.Wang said bilateral cooperation in trade, economy, investment and finance generate substantial benefits for both peoples."Both sides should work together to create a sound environment for a positive, cooperative and comprehensive China-U.S. relationship in the 21st century," Wang said.Bond and McCaskill echoed Wang's comments, calling on the two countries to oppose trade protectionism.On global economy, Wang said the recovery of the global economy would be bumpy."All countries are confronted with the common challenge of seeking robust, sustainable and balanced economic growth."Wang also said the Chinese government would "make efforts to strike a balance between maintaining steady and fast economic growth with the restructuring of the economy and the curbing of inflation."The two senators are leading a delegation of nearly 20 leaders from a variety of Missouri businesses, trade unions and universities.During their stay in Beijing, the delegation will meet with officials from the commerce, foreign affairs, civil aviation and agriculture departments.They will also travel to Shanghai on east China's seaboard, where they will call on local officials and tour the ongoing World Expo.

GUANGZHOU, Sept. 8 (Xinhua)-- The tenth tropical storm this year might strike southeast China Thursday night or Friday, bringing waves as high as six meters, said local flood control officials Wednesday.The storm could make landfall in the coastal areas between eastern Guangdong and southern Fujian Provinces, said Guangdong Provincial Flood Control and Drought Relief Headquarters in a statement.The storm was tracked at 21 degrees north latitude and 119.4 degrees east longitude in the South China Sea at 6 p.m. For the next 12 hours, it is expected to move westward at a speed of 10 to 15 km per hour, said the statement.Further, the storm was packing wind gusts of 72 kilometers per hour near its center at 6 p.m. Torrential rains of 30 to 80 mm are expected in central and eastern Guangdong if landfall is made.Headquarters officials have asked fishing boats to stay clear of the waters east of the Pearl River estuary. Checks on reservoirs should also be beefed up, they said.