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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.

BEIJING, Jan. 4 (Xinhua) -- Chinese Vice Premier Hui Liangyu Tuesday urged greater efforts be made to improve the country's earthquake emergency response system and promote earthquake safety knowledge among the public.Efforts should be made to improve emergency plans regarding quake responses and related regulations and laws, and boost the capacity building concerning quake rescue and relief in China, said Hui, while addressing a meeting on earthquake safety and disaster reduction here.He urged government agencies and local authorities to plan the work of quake safety and disaster reduction for the coming five years in a scientific manner."The work of quake safety and disaster reduction concerns the safety of people's lives and property, as well as a country's economic development and social stability," Hui said.Chinese Vice Premier Hui Liangyu (C) speaks at a meeting on earthquake safety and disaster reduction in Beijing, capital of China, Jan. 4, 2011.He noted that China, with its quick and efficient rescue and relief efforts, had successfully stood the test of a 7.1-magnitude quake and a huge landslide that hit its northwest regions in 2010.Further, Hui demanded reconstruction work in those disaster-hit zones to be carried on in a down-to-earth manner and urged arrangements be made to ensure people living in those areas have a warm and safe winter and New Year.

WASHINGTON, Dec. 2 (Xinhua) -- China's rapid economic growth is good for the U.S. workers, and the U.S. government is committed to improving bilateral economic relations with China, said U.S. Commerce Secretary Gary Locke on Thursday."China has lifted almost 200 million people out of poverty (in the past two decades). And in the years ahead, hundreds of millions more Chinese will ascend into the middle class," Locke said at a U.S.-China commercial relations forum, which was held in Washington ahead of the U.S.-China Joint Commission on Commerce and Trade (JCCT) session scheduled for Dec. 14-15."The United States welcomes this growth because this is good for the people of China ... it's good for the global economy, and good for U.S. business and ultimately, U.S. workers," said Locke.He noted that as recently as 40 years ago, the commercial relationship between the United States and China barely existed. But in the recent decades, "we have seen our countries grow progressively closer."In 2009, the bilateral trade volume reached some 365 billion dollars. China was the largest supplier of U.S. goods imports in 2009 and was the third-largest market for U.S. exports, only after Canada and Mexico.Locke mentioned that as U.S. Commerce Secretary, he has visited China for four times."Each time I visit China, I'm absolutely amazed by the transformation and the progress within China," he said.Locke noted that although there are disagreements between the two sides, there are more opportunities for cooperation."In many areas, especially in emerging industries, like clean energy and biotechnology, the interests of China and the United States are tied together. And the reform as good for the U.S. will be good for China as well," he added.Locke also revealed that during the upcoming 21st session of the JCCT in Washington D.C., the two countries will seek to further "nurture and improve the most highly-scrutinized bilateral economic relationship on Earth.""This is our most important bilateral dialogue or mechanism for resolving trade and investment issues between our two countries," he stressed.The session will be co-chaired by Locke and U.S. Trade Representative Ron Kirk with Chinese Vice Premier Wang Qishan. U.S. Secretary of Agriculture Tom Vilsack will also join the dialogue.

ZHENGZHOU, Dec. 13 (Xinhua) -- Seven company executives were suspended from duty or removed Monday after 26 miners were killed in a gas explosion in an illegally operated coal mine on Dec. 7 in central China's Henan Province, according to the group's spokesman.Forty-six miners were working underground when the blast occurred at the Juyuan Coal Mine, owned by Juyuan Coal Industry Co., Ltd. in Mianchi County, Sanmenxia City. The company is being merged into Yi Ma Coal Industry Group.Deputy general manager, Li Jianxin, of Yi Ma Coal Industry Group, the mine's prospective parent company, was suspended from duty pending investigation. Li was in charge of the group's merger and regrouping, said the group's spokesman.Manager Yao Nianshou and four deputy managers who were sent by the group to Juyuan Coal Industry Co., Ltd. were also removed, he said.The spokesman said the decisions to discipline the executives have been approved by the State-owned Assets Supervision and Administration Commission of Henan Province. The final punishment for those responsible for the incident will be decided based on the findings of the on-going investigation.Managers of the Juyuan Coal Mine did not obtain a license to excavate coal from the site in Mianchi County, where the explosion occurred. Mine managers also ignored an order to halt production, as the mine's operations are being reorganized as part of the merger.The mine had been known as the Suzhuang Coal Mine and was later re-launched as Juyuan when it was merged into the large state-owned conglomerate Yi Ma Coal Industry Group.Police said they arrested the owner of the mine, Suo Yonggang, who allegedly hid the bodies of the victims to lessen the casualty count. Suo fled the mine following the blast.Mine managers first reported that only 20 miners were trapped when the blast occurred. Provincial work safety authorities updated the figure to 33 and then to 46 as investigators found more bodies in the mine. Only 20 miners survived.

BEIJING, Dec. 2 (Xinhua) -- A senior leader of the Communist Party of China (CPC) vowed Thursday to enhance mutual political trust with France.Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the pledge during his meeting with former French Prime Minister Jean-Pierre Raffarin and General Secretary of the Union for a Popular Movement (UPM) Jean-Francois Cope in Beijing.Li recalled Chinese President Hu Jintao's visit to France last month, saying it indicates Chinese-French relations have reached a new high.Li Changchun (R), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with former French Prime Minister Jean-Pierre Raffarin in Beijing, capital of China, Dec. 2, 2010. As permanent members of the Security Council of the United Nations and members of the Group of 20, China and France share common interests and bright prospects for cooperation, he said.Li applauded the close contact between the CPC and UPM, saying the CPC will bolster exchange with UPM, especially between young politicians.The French guests hailed French-Chinese ties and cooperation and pledged to work for closer cooperation and exchange. 

来源：资阳报