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BEIJING, Dec. 24 (Xinhua) -- Renowned China economist Li Yining said Saturday that adjusting the structure of China's economy is a "matter of life and death" while the structure of GDP is more important than its size.The focus of the country's economic structure adjustment now should be transforming the dual structure in the urban and rural economy, which causes the widening income gaps between urban and rural residents, Li said at the China Economic Forum.He also noted that the key to stimulating domestic demand is to raise the workers' wages.With the external demand waned, the Chinese government has attempted to turn to domestic consumers to take up the slack. The country vows to expand domestic demand next year and increase residents' income, especially for disadvantaged groups.However, Li said raising household income is not enough and the government also needs to improve its social security system as well as increase construction of affordable houses and public rental houses.The country plans to begin construction or renovation on at least 7 million housing units for low-income groups next year, Minister of Housing and Urban-Rural Development Jiang Weixin said Friday.

BEIJING, Nov. 7 (Xinhuanet) -- A huge asteroid will pass closer to Earth than the moon on Tuesday, but experts say there is no cause for alarm.Asteroid 2005 YU 55 will pass about 300-thousand kilometers from the earth. The giant space rock is about 400 meters in diameter. The close encounter will occur at 23:28 Greenwich Mean Time. Computer models showing the asteroid’s path for the next 100 years show there is no chance it will hit Earth during that time.Previous studies show the asteroid is what is called a C-type asteroid that is likely made of carbon-based materials and some silicate rock.

CANBERRA, Dec. 9 (Xinhua) -- Scientists from Australia's University of New England on Friday said they had discovered the remarkably fossil isa metre-long arthropod with excellent vision called anomalocaris from Emu Bay Shale of South Australia.The scientists reported their finding on the anomalocaris in thescience journal Nature this week.It is reported that anomalocaris is a fearsome ancient predator that swam in the Cambrian oceans 500 million years ago. The researchers said the presence of anomalocaris would have driven the development of protective adaptations in prey animals. Such an escalatory 'arms race' would have seen, for instance, the evolution of such adaptations in prey as shells, camouflage and burrowing into sediments. "It has been unbelievably frustrating being able to see eyes like these at fossil sites like the Burgess Shale (in the Canadian Rocky Mountains), but not have any details. It is really refreshing to have our ideas about these animals confirmed at last, " comments Simon Conway Morris, a palaeontologist at the University of Cambridge, the United Kingdom.The research team was led by paleontologist Dr John Paterson, of the University of New England. He said the most surprising discovery of anomalocaris is the huge number of tiny hardened lenses in each eyes."When you consider that a modern housefly, for example, has about 3000 lenses, it's pretty impressive that an animal half a billion years old already has remarkable vision like this," Paterson said in statement."The fact that each eye in anomalocaris would have had over 16, 000 lenses means it would have very, very good resolution."Paterson said the acute vision of Anomalocaris gave it a distinct advantage over competing predators and prey, as many Cambrian animals either had poor vision or were completely blind. Its acute vision rivals or exceeds that of most living insects and was probably comparable to predatory dragonflies today.He said their findings support the idea that compound eyes evolved very early on in arthropod evolution, before the evolution of jointed legs or hardened exoskeletons.The research team hopes they can find the more fossil remains of Cambrian creatures in the Emu Bay Shale.

SAN FRANCISCO, Dec. 8 (Xinhua) -- Apple on Thursday released iTunes Rewind 2011 and App Store Rewind 2011, its annual lists of top selling music, TV shows, movies and apps for the year.Apple picks Instagram as "iPhone App of the Year." Instagram is a free photo sharing application which enables users to confine photos into a square shape in an homage to both Kodak Instamatic and Polaroid cameras, and share them on a variety of social networking services.Photo editing software Snapseed is picked as "iPad App of the Year.""Angry Birds" was the top paid iPhone and iPad app for 2011. Its spinoffs, "Angry Birds Seasons" and "Angry Birds Rio," also make to the top 10 lists.ITunes' best-selling movie is "The Social Network" and "Doctor Who" is the best-selling season TV series. An episode of "Walking Dead" is the best-selling TV episode.The best-selling fiction book was "The Help." "Steve Jobs," the only official biography of the late Apple co-founder, was the best- selling non-fiction book.In iTunes Rewind 2011, British singer Adele sweeps three major music category, named for top-selling song (Rolling in the Deep), top-selling album (21) and iTunes Artist of the year for 2011.ITunes also picked Foo Fighter's "Wasting Light" as album of the year, "Pumped up Kicks" by Foster the People as song of the year, and Nicki Minaj as its breakthrough artist of the year.First launched as iTunes Music Store in 2003, the Apple online digital media store became the largest music seller in the United States in 2008. Last February, Apple announced that more than 10 billion songs have been sold in iTunes Store. In 2008, Apple said over 200 million TV episodes had been sold.The Apple App Store was initially released in July 2008. According to Apple's data, more than 18 billion apps have been downloaded as of Oct. 4.

SHANGHAI, Jan. 11 (Xinhua) -- China has allowed the Bank of East Asia (BEA) to issue yuan-denominated bonds in Hong Kong for a second time, about three years after it became the first foreign-invested bank to make a yuan bond issuance, the bank said Wednesday.BEA China Ltd, a wholly-owned subsidiary of the BEA, was given the approval by the National Development and Reform Commission of China to issue yuan bonds in Hong Kong, it said.Details on the amounts and timing of the offerings weren't available. In 2009, in a major landmark, the BEA issued its first yuan bonds in Hong Kong in an aggregate principal amount of 4 billion yuan (630 million U.S. dollars).The BEA was among the first foreign-invested banks to be given the green light to issue yuan-denominated bonds in Hong Kong, a move analysts say will bolster the international influence of the Chinese currency, also known as renminbi.Sun Minjie, deputy head of BEA China, said the second bond issuance will give the bank stable access to capital, improve its debt portfolio, and support its development on the Chinese mainland.