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GUANGZHOU, April 18 (Xinhua) -- A research report of China's foreign trade sector Sunday predicted the world's largest exporter would more than double its foreign trade volume by 2020.It also called on China to improve the quality of foreign trade sector and to lower import tariffs to promote the nation's trade balance.The report, launched by the Ministry of Commerce (MOC) Sunday at the ongoing 107th China Import and Export Fair, the country's largest trade fair held in the southern city of Guangzhou, predicted the China's foreign trade volume would hit 5.3 trillion U.S. dollars by 2020.Merchandise exports will top other countries and be 2.4 trillion U.S. dollars in 2020, 10.1 percent of the world total, while imports will reach 1.9 trillion U.S. dollars and rank second largest, accounting for 8.2 percent of the world total, according to the report, jointly compiled by researchers with think-tanks under the MOC, the Ministry of Finance, and the Chinese Academy of Social Sciences.The report was seen by analysts and officials as a "road map" which lays out a theoretical basis for the reforms in China's trade policies and mechanisms over the next decade.The transformation of the foreign trade growth pattern has become an urgent requirement for China in the post-crisis era, said Vice Minister of Commerce Zhong Shan.Weighed on by the global downturn, China's foreign trade contracted to a three-decade low in 2009, with total volume down 13.9 percent year on year to 2.2 trillion U.S. dollars.Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation (CAITEC) under the MOC, said the financial crisis has revealed a series of substantial problems hidden behind rosy figures, as the nation's foreign trade has been expanded in an ineffective and imbalanced way, or at the cost of environment pollution.Analysts said the downturn had prompted China to adjust its exports structure, and shift focus on high-end manufacturing, energy-saving and environment-friendly industries and developing modern service industries.Li Gang, a research fellow with the CAITEC and leading writer of the report, said the global downturn has phased out a number of backward and less competitive enterprises while offering great opportunities for innovative enterprises to improve growth structure and strengthen their anti-risk capabilities.Although China reported a a deficit of 7.24 billion U.S. dollars in March, the first time over the past six years, analysts suggested decision makers to further expand imports by lowering tariffs, as a way to ease the nation's trade imbalance.Zhang Peng, a researcher with the Chinese Academy of Social Sciences, said China should increase imports of high-tech equipments, energy and resource products, and some agriculture and consumption goods in an attempt to address the trade imbalance.The nation's trade surplus has reached 1.3 trillion U.S. dollars over the last three decades, with foreign exchange reserves hitting 2.45 trillion U.S. dollars by the end of March, according to Zhang.Propping up world's economy recovery, China's foreign trade began to grow again in the first quarter, jumping 44.1 percent to 617.85 billion U.S. dollars, according to customs data.China would consolidate its position as a big trade power and make efforts to develop into a strong trader, and it would play a more active role in international trade arena, according to Zhong Shan.

YUSHU, Qinghai, April 16 (Xinhua) -- The death toll from a 7.1-magnitude earthquake in northwest China's Qinghai Province has risen to 760, rescuers said Friday.The latest statistics show that 243 people were missing and 11,477 injured, 1,174 severely, said a spokesman with the rescue headquarters in in the Tibetan Autonomous Prefecture of Yushu in southern Qinghai.A total of 4,200 injured people have been discharged from hospital, he added.Rescuers search for survivors at a collapsed building in Gyegu Town of Tibetan Autonomous Prefecture of Yushu, northwest China's Qinghai Province, April 15, 2010. Thousands of rescuers fought altitude sickness, chilly weather, strong winds and frequent aftershocks Thursday to dig through rubble and reach survivors of a strong earthquake that has left 760 dead in northwest China. At least 7,093 rescuers were carrying out search and rescue operation in the Gyegu Town, the seat of the Yushu prefecture government, according to previous statements from the headquarters.More rescuers were en route to the town that is close to the epicenter and home to 100,000 residentsThe quake struck the Yushu County in the Yushu prefecture at 7:49 a.m. Wednesday with a depth of about 33 km. The epicenter was calculated to be 33.1 north and 96.7 east, the China Earthquake Networks Center reported.A series of aftershocks have been reported so far, with the biggest being at 6.3 magnitude.The epicenter is at the Rima Village in the Shanglaxiu Township, a pasturing and sparsely-populated area about 50 km west of Gyegu and about 800 km away from the provincial capital Xining.Many people are still buried in the debris as more than 85 percent of houses in Gyegu, mostly made of mudbrick and wood, had collapsed.

BEIJING, May 18 (Xinhua) -- Former chairman of Chinese electronics retailer giant Gome Huang Guangyu was sentenced to 14 years in prison by a Beijing court Tuesday morning over illegal business dealings, insider trading and bribery. File photo of Huang Guangyu.

CANBERRA, May 15 (Xinhua) -- Visiting General Guo Boxiong, vice-chairman of China's Central Military Commission, and Australian Minister for Defense John Faulkner have vowed to strengthen exchanges between the armed forces of China and Australia.China and Australia shared common interests and desire in ensuring the peace, stability and development of the Asia-Pacific region, said a joint statement released by Guo and Faulkner Friday.The two sides hailed the development of their military-to-military relationship in recent years and said positive outcomes had been achieved through senior visits and exchanges in education, training and technical areas.Both sides agreed that strengthening open dialogue on defense and security issues between Australia and China was conducive to promoting bilateral relations.The statement said China and Australia were both pleased with the outcomes of the current visit and the opportunity it provided to further strengthen bilateral ties and military exchanges.The Sino-Australia defense relationship was an important part of bilateral ties and both sides would work concertedly to sustain sound and stable development in this regard, it said.Both countries should respect and take into full consideration each other's core interests and major concerns, and develop ties on the basis of mutual respect, equality and mutual benefit, the statement said. It said the two sides had also agreed to carry out more top-level visits to further promote mutual trust and discuss ways to boost the transparency of defence policies.Both sides said maritime security was crucial in keeping maritime trade routes open, and agreed to organize a joint maritime exercises with naval ship visits in the future and to continue exchanges on humanitarian assistance and disaster relief.The two countries agreed to enhance exchanges between the two armies and to push ahead exchanges of mid-level and junior officers in such areas as information sharing, peace-keeping, medical treatment and sports.Guo arrived in Australia on Tuesday for a four-day official goodwill visit at the invitation of Faulkner. He has already met with Australian Prime Minister Kevin Rudd and Foreign Minister Stephen Smith.

PYONGYANG, April 3 (Xinhua) -- The Democratic People's Republic of Korea (DPRK) top leader Kim Jong Il hosted a dinner party on Saturday for new Chinese ambassador Liu Hongcai, Chinese embassy diplomats and the visiting Chinese Tianjin Women's Volleyball Team.The Workers' Party of Korea (WPK) Central Committee Secretary Kim Ki Nam said in his address the traditional DPRK-China friendship, which was fostered by the elder generations of the two countries' leaders, had developed to new levels under the guidance of WPK General Secretary Kim Jong Il and Communist Party of China (CPC) Central Committee General Secretary Hu Jintao.Liu said China wanted to make more effort with the DPRK side for continuous consolidation and development of the China-DPRK friendship and cooperation.WPK Central Committee Secretary Choe Thae Bok, DPRK Foreign Affairs First Vice-Minister Kang Sok Ju and other major WPK and DPRK military officials were present at the party, at which the Chinese and DPRK sides sang national songs.Before the party, Choe, Kim Ki Nam and Liu watched a friendly match between the Tianjin volleyball team and the 4.25 Women's Volleyball Team of the DPRK.