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BEIJING, Aug. 22 (Xinhua) -- China's consumer price index (CPI), one of the main gauges of inflation, will peak in August before starting to fall in the following months of the year, an economist said Sunday."The CPI is likely to surpass 3.3 percent in August but that will be the highest level for the year," said Lian Ping, chief economist at Shanghai-based Bank of Communications.He said commodity prices will remain relatively low in the short term as market concern about a weak economic recovery linger and as the European debt crisis spreads.Chinese inflation will also ease due to China's slower economic growth rates and a fall in the price of industrial goods, Lian added.However, long-term inflationary pressures cannot be ruled out, due to potential rises in the cost of food, labor and natural resources, he said.Lian said he expects inflationary pressures to grow in March and April next year.Largely on the back of rising food prices after widespread flooding wrecked crops and disrupted shipping, China's July CPI rose 3.3 percent from a year earlier, the fastest rate since October 2008.The CPI for the first seven months of the year stood at 2.7 percent, below the whole-year target of 3 percent.
BEIJING, July 6 (Xinhua) -- China's Ministry of Finance and the Ministry of Civil Affairs on Tuesday jointly sent 377 million yuan (55.2 million U.S. dollars) to four southern provinces which had been battered by rainstorms and consequent floods.The funds will be mainly used for the evacuation and resettlement of affected local people and the rebuilding of damaged houses in the provinces of Zhejiang, Fujian, Jiangxi and Hunan, said a statement released Tuesday by the Ministry of Civil Affairs.Figures from the ministry show that around 260 people have been killed and 211 left missing in 11 provinces since rainstorms hit south China on June 13.More than 3.8 million people were evacuated and relocated due to floodwater, which also destroyed 312,000 homes and resulted in direct economic losses reaching 64.57 billion yuan (about 9.49 billion U.S. dollars).As of Tuesday, the two ministries have allocated a total of 867 million yuan for eight southern provinces and autonomous regions for flood relief.

BEIJING, Aug. 4 (Xinhua) -- China continued a five-day military exercise on Wednesday as the country's air defense forces carried out reconnaissance, early warning, electromagnetic interference and ground-to-air attack drills.More than 12,000 Chinese military personnel, along with seven types of military aircraft divided into Red and Blue rivals, took part in the exercise code-named "Vanguard-2010,"-- which started on Tuesday in seven cities across Henan and Shandong Provinces.On Wednesday morning, the Blue forces used reconnaissance planes and electronics warfare aircraft to conduct surveillance and jam the network systems used by the Red forces for command and communications as well as reconnaissance and early warning.A ground-to-air attack drill began at Wednesday noon, as the Blue forces launched unmanned aerial vehicles, fighters and helicopters to attack their rivals.The ground-to-air attack drill will last overnight till 6 a.m. Thursday, military sources said.
BEIJING, Aug. 23 (Xinhua) -- China's top legislature Monday opened its bimonthly session with a series of draft laws and amendments, including the amendment to the Criminal Law and a draft law on intangible cultural heritage (ICH) protection.The session of the Standing Committee of the National People's Congress (NPC) continued to deliberate draft amendments to the Law on Officers in Reserve Forces, the draft People's Mediation Law, as well as the draft Law on the Application of Laws to Civil Relationships Involving Foreign Interests.Lawmakers also deliberated for the first time draft amendments to the the Law on Deputies to the People's Congress, draft amendments to the Criminal Law, the draft Law on the Protection of Intangible Cultural Heritage, and the draft revision of the Water and Soil Conservation Law.The amendment to Criminal Law proposes reducing the number of crimes subject to death penalty from 68 to 55. It also gives a definition of "organization in the nature of a criminal syndicate" and lists tougher punishments for crimes by such organizations.Drink driving, intentionally defaulting on payment to employees and illegal human organ trade are to be listed as crimes in the Criminal Law, according to the amendment.The draft law on ICH protection includes a definition of ICH, mechanisms for ICH surveys, regulation of the inheritance of ICH, and penalties for its destruction.Lawmakers on Monday also heard a report on the NPC Standing Committee's research results on issues for the formulation of the 12th Five-Year Plan (2011-2015). ' The NPC, for the first time in history, completed 15 research reports on 14 major subjects from March to July to provide proposals for the formulation of the keynote plan, after Wu Bangguo, chairman of the NPC Standing Committee, called for the research at the annual legislative session in March.Lawmakers discussed the constitutional reform package of Hong Kong, which refers to the amendments to the methods of selecting the region's chief executive and forming the Legislative Council in 2012.They also heard a report by the State Council on a proposal for the NPC to ratify the International Convention for the Suppression of Acts of Nuclear Terrorism.
BEIJING, Aug. 6 (Xinhua) -- Flood-triggered disasters have killed more than 1,450 Chinese this year, with another 669 missing, according to the Ministry of Civil Affairs.Lingering rainstorms have been slashing provinces including Shaanxi, Sichuan and Jilin this year, triggering floods and landslides, which have affected a population of 200 million and forced more than 12 million to evacuate, according to the ministry.Nearly 13.5 million hectares of crops were affected by heavy rains and floods, with 2.09 million hectares destroyed, while floods have also leveled more than 1.36 million houses.The total economic loss was put at more than 275 billion yuan(40.6 billion U.S dollars), according to the ministry.The central finance authority has recently allocated 195 million yuan to subsidize local governments in those regions worst-hit by natural disasters such as rainstorms and typhoons.The fund, which has been channeled to Jilin, Guangdong, Sichuan and Shaanxi, as well as the Guangxi Zhuang Autonomous Region, will be used in relocating residents, helping people rebuild homes and offering relief for residents who lost family members.
来源:资阳报