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BEIJING, Sept. 5 (Xinhua) -- The Chinese economy is experiencing a "V" shape recovery and the growth rate may reach 8 percent both this year and next year, said Chinese economist Fan Gang said here Saturday.     Fan, a monetary policy adviser to China's central bank, said at the 2009 annual conference of CEO in Beijing, that the economy will see a sustainable recovery and will be back to normal in 2011,according to a report of the China News Service.     He predicted that the real estate investment will increase by around 30 percent in 2010, which will add one percentage point to economic growth.     Corporate investment is expected to grow prominently next year and as the global trade is warming up, Chinese export, which still enjoys the cost advantage, will recover.       "After the economy is back to normal in 2010, the government will adjust the macro-economic policy. But before that happens, the current stimulus policy should stay to sustain the recovery," he said.     Fan said people should adjust their expectation of economic growth and not regard recovery simply as a double-digit growth. A growth grate of 8 percent to 9 percent is sustainable growth.

FRANKFURT, Oct. 13 (Xinhua) -- Chinese Vice President Xi Jinping on Tuesday called for enhancing cultural exchanges to boost world peace at the opening ceremony of the Frankfurt Book Fair.     Xi, together with German Chancellor Angela Merkel, witnessed the opening of the 61st version of the Frankfurt Book Fair, the world's biggest annual book fair. China has been selected as the Guest of Honor for this year's fair. Chinese Vice President Xi Jinping speaks at the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book Fair. German Chancellor Angela Merkel attends the opening ceremony of the Frankfurt Book Fair.While addressing the opening ceremony, Xi said the fair not only provides a vital chance for China to appreciate the elite cultural products worldwide, but also opens a window for the people from various nations to observe Chinese culture at a shorter distance.     Xi said the Chinese side will take the opportunity of serving as the Guest of Honor to introduce Chinese culture as well as its prosperous development in the publishing industry.     The Chinese side will also learn from the successful experience of other countries in publishing to increase mutual communication and cooperation in this particular field, Xi said. Chinese Vice President Xi Jinping (L) talks with German Chancellor Angela Merkel when they attend the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book FairFrom Oct. 14 to Oct. 18, the Chinese side and the host will stage over 600 Guest of Honor events, aimed at showcasing Chinese culture and boosting dialogue between Chinese scholars and their foreign counterparts.     Xi said China upholds the idea of building a harmonious world with sustained peace and common prosperity.     Thanks to the exchanges among various cultures, people from different countries could get to know Johann Wolfgang von Goethe (1749-1832) from Germany, William Shakespeare (1564-1616) from Britain and Confucius (551 BC-479 BC) from China, Xi noted. Chinese Vice President Xi Jinping (C) attends China's presentation after the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book Fair.Frankfurt is the hometown of Goethe, the famous German writer and poet.     Cultural exchanges require understanding and respect, as well as overcoming discrimination and misunderstanding in this regard, Xi said.     Cultural diversity, which is a part of human society, should be maintained to build a more colorful world instead of becoming obstacles for cultural exchanges and reasons for conflicts, Xi said. Chinese Vice President Xi Jinping (C) and German Chancellor Angela Merkel (2nd R) pose for photos while attending the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book Fair. Different cultures should learn from each other rather than reject each other, he added.     Xi also warmly welcomed worldwide guests to visit the Theme Pavilion set up by the Chinese side for the book fair.     Following the opening ceremony, Xi visited the Theme Pavilion and officially unveiled the hall for public tour.     Arriving in Germany on Saturday morning, Xi held talks with Merkel and met with German President Horst Koehler in Berlin on Monday.     On Wednesday morning, Xi will leave Germany for Bulgaria to continue the third leg of his five-nation Europe tour.

BEIJING, Aug. 5 -- Chinese steel mills would prefer to import more iron ore from Brazil rather than Australia after the detention of four Shanghai-based employees of multinational miner Rio Tinto on charges of commercial espionage, according to data specialist ASXMarine. Spot iron ore vessel bookings from Brazil to China surged to a record 39 in July, from 24 in the previous month, Reuters quoted the data from ASXMarine.     Vessel bookings from Australia's main iron ore ports to China dropped to 31, down from 40 compared to the previous month and the lowest reading since February after the Rio Tinto scandal. Photo taken on July 9, 2009 shows the Rio Tinto Ltd. Office in Shanghai, east China.    Chinese steelmakers have begun to hold their imports from Australian miners and are switching to Brazilian ore instead, domestic ports have witnessed.     Zang Dongsheng, deputy general manger of Rizhao Port Group, China's largest iron ore port which accounts for a fifth of the country's iron ore deliveries, said some of his customers have reduced their orders from Australia and turned to Brazil. But the exact figures would be available only in September as shipments from Brazil and Australia would be delayed by one or two months.     China's main ports received 56.5 million tons of iron ore in July, up 35 percent from the same period last year, the Ministry of Transport said yesterday.     Iron ore imports rose 29.3 percent year on year, to 297 million tons, in the first half of this year, while traders imported 131 million tons, up 90.4 percent from last year.     The China Iron and Steel Association (CISA) said last Friday that excess iron ore imports had distorted the demand-supply situation and hampered its position at negotiations with global miners on new long-term benchmark prices.     It also said foreign iron ore suppliers promoted massive selling on the cash market, leading to huge stockpiles and urged to limit import licenses.     However, the iron ore import figures in July reflected orders in May as it takes more than a month to deliver ore from Australia and Brazil, said Zang from Rizhao port.     Chinese steel mills started to reduce orders ever since CISA rejected the 33-percent cut offered by miners in May and held out for more discount, he said.     China News Service reported yesterday that CISA halted talks because iron ore spot prices have been "seriously distorted", citing a statement issued by the association.     However, no such statement could be found on the association's website, and its official surnamed Wang said the report was not true and talks were ongoing.

HARBIN, Aug. 10 (Xinhua) -- Chinese Vice Premier Li Keqiang said over the weekend that the rebuilding of shanty towns which have long-housed low-income workers is an important part of the country's effort to improve people's livelihood.     Li made the comment at a working conference to address the rebuilding of shacks in cities and at compounds of large state-owned mining enterprises held in Harbin, capital of northeast China's Heilongjiang Province, on Saturday.     Such shanty towns are shabby residential areas that were built when the country started to industrialize its economy, and people living there are more often low-income wage earners in factories.     These people are either living in a space that is less than 10 square meters for each, or in apartments that have no tap water or sewers, or even toilets or kitchens. Chinese Vice Premier Li Keqiang (C) addresses a meeting on the rebuiding of cities and hut zones, in Harbin, capital of northeast China's Heilongjiang ProvinceChina is aiming to offer proper housing for 7.5 million low-income urban households and 2.4 million households living in shanty towns of coal mines, reclamation areas, and forest zones in three years, Premier Wen Jiabao said in March.     There are another 1.14 million living in shabby apartments at compounds of state-owned mining enterprises, which are not included in the planning of cities, according to the conference.     Li urged to integrate the rebuilding of such shanty towns with the low-income housing project, initiated by the Chinese government to build affordable houses for low-income urban residents.     He also asked planners to build homes at different price levels in a region so as to avoid the concentration of poor population in a certain neighborhood.     Li stressed that the government should dominate the project of rehousing low-income workers, but it could invite funding from outside the government.     He said the government should secure land supplies for such projects and materialize tax supports.     The central government pledged to allocate 49.3 billion yuan (7.25 billion U.S. dollars) from the central budget to finance such housing projects in 2009 alone.

TAIPEI, Aug.15 (Xinhua) -- Typhoon Morakot has killed at least 124 people and left 56 missing in Taiwan as of 10 p.m. Saturday, according to local disaster response authorities. Another 45 people were injured after the typhoon, the worst on the island in nearly five decades, wreaked havoc across central and southern regions.     Sixty-six people died in Kaohsiung, 25 in Tainan, 16 in Pingdong, six in Chiayi, seven in Nantou, three in Changhua and one in Yunlin.     Nearly 23,700 people have been evacuated, and almost 5,000 are taking refuge in 170 sheltering camps.     Morakot has caused more than 12 billion New Taiwan Dollars (365million U.S. dollars) in damages to agriculture and forestry. Among the worst-hit regions are Pingdong, Kaohsiung and Tainan.     People from a wide range of social sectors in Taiwan have donated cash and materials worth millions of New Taiwan Dollars to support the disaster-relief work. Photo taken on Aug. 14, 2009 shows a house buried by debris flow in Kaohsiung, southeast China's Taiwan Province.Charities and enterprises on the mainland also offered relief-assistance to the island.     On Saturday, an official with the Taiwan Work Office of the Communist Party of China (CPC) Central Committee, said the mainland will provide any necessary relief materials needed by Taiwan compatriots affected by the typhoon.     The office has requested factories to manufacture portable shelters day and night, and the first batch is expected to arrive in Taiwan Monday at the soonest. Villagers search for lost belongings in a damaged village in Kaohsiung, southeast China's Taiwan Province, Aug. 14, 2009