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BEIJING, Dec. 23 (Xinhua) -- China and the United States are in close touch for Chinese President Hu Jintao's state visit to the U.S. in January, Chinese Foreign Ministry spokeswoman Jiang Yu said Thursday.Jiang said President Hu's visit will be a major event of the China-U.S. relations in the new era, and China hopes the visit could further push forward the positive, cooperative and comprehensive China-U.S. relations.
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.

ASTANA, Nov. 10 (Xinhua) -- China's top political adviser, Jia Qinglin, met here Wednesday with Kazakh President Nursultan Nazarbayev and both sides called for intensified bilateral ties.Jia, chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, said during the meeting that bilateral relations have witnessed fruitful development since the two countries established diplomatic ties 18 years ago.China and Kazakhstan have supported each other in such issues concerning their core interests as sovereignty, security and territorial integrity, Jia said.They also have carried out close cooperation under multilateral frameworks of the United Nations, the Shanghai Cooperation Organization (SCO) and the Conference on Interaction and Confidence-Building Measures in Asia, the top adviser said.In addition, Jia said, both sides have kept close communications and coordination on major regional and international issues."Deepening relationship between the two was in line with the basic interests of the people in two countries, and China will work hard with Kazakhstan for a sounder and deeper relationship," Jia said.China and Kazakhstan bear great potential in economic development, and the two sides will further strengthen cooperation in the fields of finance, energy, transportation and tourism, Jia said.Nazarbayev hailed the close high-level contacts and the development of ties after the two countries established a strategic partnership in 2005.He also hailed the ever-deepening pragmatic cooperation that has benefited the two countries.Kazakhstan values the development of its ties with China and stands ready to work together to further enhance exchanges and cooperation in such areas as trade and economy, energy, and security so as to keep promoting their strategic relationship, the president said.Nazarbayev also vowed to intensify cooperation with China under the SCO framework."Since Kazakhstan is now chairing the rotating presidency of the organization, we will try all means to prepare and present a successful summit next year," he said.On the same day, Jia also met with Nurlan Nigmatulin, first deputy chairman of People's Democratic Party "Nur Otan." Jia called for closer ties between the Communist Party of China and "Nur Otan" party under the basic principles of "independence, equality, mutual respect and non-interference in other parties' internal affairs."Nigmatulin echoed Jia's remarks, and said he looked forward to closer contacts between the two parties to boost full development of relations between China and Kazakhstan.Jia arrived here Tuesday for a three-day goodwill visit to Kazakhstan.
MACAO, Nov. 13 (Xinhua) -- Chinese Premier Wen Jiabao met with Ho Hau Wah, former chief executive of the Macao Special Administrative Region (SAR), who is now the vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), here on Saturday.Ho became the first chief executive of the Macao SAR in 1999 when China resumed the exercise of sovereignty over Macao, and won the election for a second term in 2004.During the meeting, Wen highly praised Ho's work as the chief executive, who facilitated the successful implementation of the principle of "one country, two system" in the SAR and made his contribution to maintaining Macao's prosperity and stability.Chinese Premier Wen Jiabao (R) meets with Edmund Ho Hau Wah, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, in Macao, south China, Nov. 13, 2010.Wen expected Ho to keep himself concerned on Macao's development and fully support the work of the chief executive and the Macao government.Chui Sai On succeeded Ho as the third-term chief executive on December 20, 2009.Kicking off his two-day visit in Macao Saturday morning, Wen has attended the opening ceremony of the third Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries, and delivered a keynote speech.
BEIJING, Nov. 19 (Xinhua) -- Officials from the Ministry of Housing and Urban-Rural Development on Friday ordered local governments to begin a campaign to inspect projects under construction to eliminate safety risks in the wake of recent fire accidents.Local authorities should work on "effective prevention of accidents" and improve safety, especially in winter when fire and gas poisoning accidents tend to be more frequent, the ministry said in a statement on its website.Special monitoring should be undertaken of reconstruction work and of projects involving the expansion of existing buildings, it said, urging a "serious" crackdown on illegal practices during building operations, according to the statement.The notice followed the call from the State Council on Wednesday demanding tougher fire prevention measures, after a blaze Monday gutted a high-rise apartment building in Shanghai, killing at least 58 people, and another fire engulfed a 99-year-old building at Tsinghua University in Beijing on Nov. 13.
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