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RIYADH, Dec. 26 (Xinhua) -- A Chinese culture show was put up in the Saudi capital Riyadh as both countries mark the 20th anniversary of diplomatic ties.The three-day event, sponsored by the kingdom's Culture and Information Ministry in tandem with the Chinese Culture Ministry, is being organized at Riyadh's huge King Fahd Culture Center.Saudi Culture Minister Abdulaziz Khouja said the show reflected friendly relationship between the two counties, hailing deeply- rooted ties binding his country and China.A 30-strong Chinese delegation, which included artists and musicians, has arrived in Riyadh to take part in the event.Chinese Commerce Minister Chen Deming paid a landmark visit to Saudi Arabia in early 2010, during which he said both countries are going to boost the two-way trade volume to 60 billion U.S. dollars by 2015.

BEIJING, Dec. 6 (Xinhua) -- A well-known economist said Monday that the biggest problem in China is not inflation, but shifting its economic structure to maintain sustainable growth."The biggest challenge faced by China is economic restructuring in order to shift the economy to a more balanced way that will provide sustainable economic growth," Stephen Roach, former chairman of Morgan Stanley Asia, told Xinhua."In the post-crisis environment, the shift means to build a consumer-led economy, and that is the overriding challenge in China," said Roach, who currently serves as non-executive chairman of Morgan Stanley Asia.Residents' incomes in China remain at a low level. "People's incomes are only 42 percent of the GDP, whereas in the US the rate is 86 percent. So the government should raise the income of the citizens, especially when China wants to stimulate domestic private consumption," said Roach."Of course, that does not mean the Chinese government should ignore the risk of higher inflation," he said.Official data showed that China's October Consumer Price Index (CPI), a major gauge of inflation, rose to a 25-month high at 4.4 percent."There is a certain amount of momentum to inflation, so it's likely to be the a problem over the next 12 months. If the government acts quickly, it will be able to limit the problem, or else China could be facing this problem in 2012 as well," said Roach.Roach suggested China should take broad and comprehensive approaches in dealing with inflation, and the medium-term goal of the shifted economic structure need to be maintained."The government has to demonstrate its resolve in dealing with inflation, and property market assets. It's a challenge, but I think the government is up to the challenge," according to Roach.

BEIJING, Dec.23 (Xinhua) -- China is tightening regulation on foreign investment in the real estate sector to crack down on speculation, according to a statement from the Ministry of Commerce(MOC) on Thursday.The ministry urges local authorities to increase checks and supervision on property investment that involved foreign investors and strengthen risk controls on the sector, said the statement posted on the MOC web site.According to the statement, foreign-funded developers are not allowed to make profits through buying and reselling real estate projects, which will be strictly monitored by the MOC along with the Ministry of Land and Resources and the State Administration of Foreign Exchange.The ministry also required local authorities to tighten scrutiny over foreign-funded investment companies and not to allow those companies to enter the real estate businesses, while closely examining the exact amount of foreign funds used in new real estate projects.Foreign direct investment(FDI) into China's property sector jumped 48 percent to 20.1 billion U.S. dollars in the first eleven months of this year, compared to a 17.73 percent growth in the total FDI in the same period, according to earlier MOC data.China introduced a group of measures to crack down on property market speculation and rein in skyrocketing home prices since the beginning of this year, including prohibiting the issuance of mortgage loans for third home purchases and raising down-payments.The government is also guarding against possible "hot money" inflows that might complicate China's policy to fight inflation.Property prices in 70 major Chinese cities rose 0.3 percent in November, month on month, and 7.7 percent year on year, according to the National Bureau of Statistics.

BEIJING, Nov. 16 ( Xinhua) -- The General Office of China's State Council, or the Cabinet, on Tuesday issued a circular, ordering more strict fire control measures to "resolutely" prevent serious fire accidents.Monday's blaze in an apartment building in Shanghai's downtown area left 53 people dead and more than 70 injured, one of the deadliest recorded fire disasters in the city.The circular ordered extensive campaigns to inspect and remove fire hazards and to educate the public about fire control, as well as strict implementation of the accountability system for fire accidents.Besides those directly responsible for serious fire accidents, local government chiefs would also be held accountable, it said.Police have detained eight people in connection with the deadly blaze.Further, an initial investigation has blamed the disaster on unlicensed welders, some of whom are among the detained.

BEIJING, Dec. 29 (Xinhua) -- China Wednesday released its first ever white paper on the nation's anti-graft efforts, expressing its resolve to strengthen the fight against corruption.The document, titled China's Efforts to Combat Corruption and Build a Clean Government, was issued by the Information Office of the State Council, or Cabinet.Ren Jianming, director of the Anti-Corruption and Governance Research Center at Tsinghua University, said corruption is a sensitive issue, and the white paper shows "China has a more open and cooperative attitude toward the problem."The report will help eliminate bias and misunderstanding about China's anti-graft battle as it details both achievements and problems, said He Zengke, a researcher at the Central Compilation and Translation Bureau, a prominent research institute on Marxism and Chinese policies."It will help people develop a correct, objective and comprehensive understanding of China," he said.China's efforts to combat corruption and build a clean government have been managed systematically and promoted comprehensively and "achieved results," the report said.From 2003 to 2009, prosecutors at all levels investigated more than 240,000 cases of embezzlement, bribery, dereliction of duty, and rights infringement, according to the report.From January to November, the Party's discipline watchdogs investigated 119,000 graft cases, resulting in 113,000 people being punished, of whom 4,332 were prosecuted, said Wu Yuliang, secretary general of the Central Commission for Discipline Inspection of Communist Party of China (CPC), at a press conference Wednesday.From 2005 until 2009, over 69,200 cases of commercial bribery -- involving some 16.59 billion yuan in funds -- were investigated, it said.In 2009, some 7,036 officials were held responsible for serious mistakes, breach of duty, and failing to manage and supervise subordinates, the report said.The report quoted a National Bureau of Statistics survey as saying that 83.8 percent of Chinese thought corruption was reduced to some extent in 2010, which was up from 68.1 percent in 2003.The document warned that the task of curbing corruption remains arduous.China has undergone dramatic economic and social change, and the ideas and concepts of the people have altered, leading to increased social conflict, the report said."Since the relevant mechanisms and systems are still incomplete, corruption persists, some cases even involving huge sums of money," the report said. "Breaches of law and discipline tend to be more covert, intelligent and complicated."The CPC and the government understand the "long-haul, complicated and arduous" nature of the anti-graft mission, the report said."They will resolutely punish and effectively prevent corruption with more resolutions and powerful measures," the report said.The report introduces the principles, working mechanisms and legal framework for China's anti-graft system. It also sets out the progress made in combating corruption and international anti-graft cooperation.Despite the achievements made, more work has to be done to meet the people's expectation for anti-graft efforts, especially with improving the transparency of decision making, He said.Many difficulties and problems facing the anti-graft work will be solved through the reform of the systems, he said.On Tuesday the Political Bureau of the CPC Central Committee, the country's central leadership, set objectives for the country's anti-graft mission in the next phase, stressing better anti-corruption supervision on construction projects, public money being held in private account, extravagant ceremonies, and government vehicles.Prof. Yan Shuhan at the Central Party School said the Communist Party of China should stay sober-minded and persistent in its anti-graft endeavor and face the problems head on.