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HANGZHOU, Dec. 24 (Xinhua) -- Fire engulfed an electric appliance store in east China's Zhejiang Province Friday night, local police said.Flames broke out at around 8:30 p.m. at a store of GOME, China's leading electric appliance franchiser, in downtown Jinhua City, Zhejiang, according to the police.The store occupies the first three floors of a 13-storey residential building. The store was in business when the fire broke out."The fire has engulfed six floors of the building so far. At least 10 people from the upper residential apartments have been transferred to safer places by firefighters as of 9:50 p.m.," said a witness.The witness said there were people trapped on the 12th floor of the building, but the exact number of the trapped remained unknown.Ambulances are waiting on the road. So far, no casualties were reported.Fire fighters continue rescuing people from the upper floors by stairs.

BEIJING, Nov. 9 (Xinhua) -- The third China-UK Economic and Financial Dialogue concluded here Tuesday, with both sides coming out of it committed to a range of policies to return the world economy back to strong and sustainable growth.While addressing the press after the one-day dialogue, Chinese Vice Premier Wang Qishan, who hosted the talks, said both China and the UK agreed the world should "jointly promote strong, sustainable and balanced global growth."According to the combined policy outcomes of the talks, both sides have recognized although the global economic recovery is underway, it remains uneven.The two nations "pledged to continue implementing economic policies conducive to sustainable economic growth," while "the UK has committed to a clear, credible, ambitious and growth-friendly medium-term fiscal consolidation plan," said the document.Chinese Vice Premier Wang Qishan (L) and UK Chancellor of the Exchequer George Osborne pose for photos during a press conference after the third China-UK Economic and Financial Dialogue in Beijing, capital of China, Nov. 9, 2010. Wang Qishan and George Osborne co-chaired the third China-UK Economic and Financial Dialogue here Tuesday. China, for its part, is committed to speeding up transformation of its economic development pattern and further strengthening the "role of domestic demand" in boosting economic growth.The upcoming Group of 20 (G20) summit in Republic of Korea (ROK)'s capital of Seoul was also highlighted in the bilateral discussion.Strongly supporting the G20 as the major forum for their international economic cooperation, the two countries welcomed the ambitious agreement reached by the G20 Finance Ministers and Central Bank Governors at Gyeongju, ROK, to reform the IMF's quota and governance.These reforms aim to help deliver a more "effective, credible and legitimate IMF, and enable the IMF to play its role in supporting the operation of the international monetary and financial system."The policy outcomes also call for further bilateral ties in trade and investment, including high technology and infrastructure."The UK is already one of the most open economies in the world to trade and inward investment and welcomes more Chinese investment, including from sovereign wealth funds," said UK Chancellor of the Exchequer George Osborne who co-chaired the talks with Wang.Both China and the UK said they would resist all forms of protectionism, and continue working together to further lower trade barriers and make efforts for a comprehensive and balanced conclusion to the Doha Development Round.The UK also reaffirmed its support for China's full market economy status at as early a date as possible and will continue to play a constructive role to encourage EU recognition.The two nations also vowed to drive forward the reforms of international financial regulation and supervisory standards, and to enhance transparency and accountability in the financial sector.

SHANGHAI, Nov. 11 (Xinhua) -- The first annual development report for east China's metropolis Shanghai was released Thursday, pointing out new strategies to build the city into an international economic, financial, trading and shipping center by 2020.The Development Report on Shanghai International Economic, Financial, Trading and Shipping Center was released by the municipal Development and Reform Commission and the municipal Development and Reform Institute.The report reviews the efforts and progress in building Shanghai on four fronts and makes proposals for future development.Shanghai set the goal of becoming the center in the four areas in 2009.At the ceremony marking the release of the report, scholars gathered to discuss Shanghai's development.In terms of becoming an international economic center, Jiang Yingshi, president of the Shanghai Society of Macroeconomics, said that Shanghai should draw on the World Expo effect to enhance its service-oriented economy, regional integration, and cultural development.To become an international financial center, Xiao Lin, deputy chief of the municipal Development and Reform Commission, said that the key task in the next decade is for Shanghai to become the RMB products trading and investment hub with world class financial services.In terms of becoming an international trading center, Yuan Zhigang, economics professor at Fudan University, said that efforts should be made to develop high end products and build Shanghai into a shopping paradise.In terms of becoming an international shipping center, scholars pointed out the importance of a modern shipping service system.The development report will be released every year starting in 2010 to keep track of each breakthrough along the way, said Xiao Lin.

QINGDAO, Nov. 20 (Xinhua) -- Taiwan-based EVA Airways Corp. Saturday launched a weekly direct flight service linking southern Taiwan's Kaohsiung City and Qingdao City in eastern Shandong Province.The service will operate on Saturdays. It is the first direct service between the two cities.The flight will increase the number of direct flights between Qingdao and Taiwan to 20 per week, according to Qingdao Airport.Thanks to increased people-to-people exchange between Taiwan and the mainland, Qingdao Airport's passenger traffic to and from Taiwan this year reached 145,495 on Nov. 15, a 55 percent year-on-year increase.

BEIJING, Dec. 25 (Xinhua) -- China 's central bank announced Saturday that it will raise the one-year lending and deposit interest rate for the second time this year, as the government continues its battle against surging prices.The People's Bank of China (PBOC) said in a statement posted on its website that it will hike the benchmark interest rate by 25 basis points beginning Sunday, which raised the one-year lending rate to 5.81 percent and one-year deposit rate to 2.75 percent.The PBOC increased the benchmark lending and deposit rates by 25 basis points on Oct. 20, which was the first increase in nearly three years.The rate hike came after the central bank vice governor, Hu Xiaolian, said Friday that China would bring its overall money supply to a normal level using various policy tools, as the government shifts monetary policy from "moderately loose" to "prudent" to rein in rising inflationary pressures and curb asset bubbles.Photo taken on Nov. 18, 2010 shows a teller counting the Renminbi at a bank in Qionghai City, south China's Hainan Province. China's central bank will raise the one-year lending and deposit interests rate by 25 basis points from Dec. 26, 2010, according to a statement posted on the website of the People's Bank of China Saturday.The country's consumer price index (CPI), a main gauge of inflation, accelerated to a 28-month high in November of 5.1 percent, while new loans reached 7.45 trillion yuan in the first 11 months of this year, compared to the government's full-year target of 7.5 trillion yuan.A recent PBOC survey also showed that the proportion of Chinese citizens satisfied with the current price level had sunk to an 11-year low, and only 17.3 percent of the consumers said they intended to consume more in the future.Rising prices have prompted the government to take measures to rein in the hikes, including boosting supplies and providing financial aid to the needy.Li Daokui, a member of the monetary policy committee with the PBOC, said the rate hike mainly aimed at managing inflationary expectations and reflected the policy shift, as tightening the money supply is the best way to curb inflation.The rate increase came "at the right time", as western countries are celebrating the Christmas holiday, to avoid overreaction from the global markets, Li added.Besides interest rate hikes, China had increased the bank reserve requirement ratio six times in 2010 to 18.5 percent and 19 percent for some large commercial banks."The decision was made in consideration of China's economic condition next year," said Lian Ping, chief economist with the Bank of Communications, the country's fifth largest lender, who described fighting inflation as the central bank's primary task at present.Lian expected inflation to continue to go up in the first quarter next year due to rises both in demand and cost, as well as other influences from the external market.His views were echoed by Zhuang Jian, chief economist with the Asian Development Bank, who also attributed rising inflation to holiday seasons and the extreme winter weather.Observers believe that further rate hikes are to be expected since solving inflation and liquidity pressure at the same time is considered a difficult task."You cannot expect one or two rate rises to have a significant impact on economic indicators," said Zuo Xiaolei, chief economist with Galaxy Securities.However, Lian said China only has room for two or three rate hikes, as higher interest rates would increase risks of "hot money" inflows due to a widening interest margin between China and the United States, which is likely to keep rates low.Li Daokui also attributed the timing of the rate increase to avoiding rapid capital inflows.But currently the factors that decides the direction of capital flows are currency exchange rates and assets prices, Lian added.UBS Securities economist Wang Tao said last month that she expected the central bank to raise the interest rate by 25 basis points before the end of the year and by another 75 basis points in 2011.China's economy grew 9.6 percent year on year in the third quarter this year, slowing from the 10.3 percent increase in the second quarter and 11.9 percent in the first quarter.The country targets about a 3 percent inflation rate in 2010.

来源：资阳报