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XIAMEN, Sept. 7 (Xinhua) -- China will continue to attract large influxes of foreign investment in the next few years despite uncertainties in the global economic recovery, Commerce Minister Chen Deming said Tuesday.Although uncertainties lie in the process of the global economic recovery and the development trend of the world economy would, to some extent, affect foreign investment in China, the next few years will still be a high-tide period for foreign investment inflow into the country, Chen said Tuesday at a ministerial conference at the 2nd World Investment Forum (WIF) in Xiamen City in southeast China's Fujian Province."Currently, many countries and organizations have rated China as the most appealing destination for investment, which probably would not be changed for a few years," said the minister.Foreign direct investment (FDI) this year is set to "surpass 100 billion U.S. dollars," compared to 90 billion dollars last year, an official with the ministry predicted on Sunday.During the first seven months of this year, China's FDI increased 20.65 percent year on year to 58.35 billion dollars, according to the ministry' s latest statistics.Meanwhile, some 14,459 foreign-invested companies were established in China in the first seven months, up 17.9 percent year on year.

BEIJING, Oct. 21 (Xinhua) -- Chinese Vice Premier Zhang Dejiang Thursday ordered centrally-administered state-owned enterprises (SOEs) to achieve greater development over the next five years.Zhang also required the SOEs to boost efforts to reform while optimizing industrial structures and reinforcing management.He made the remarks during an inspection tour of the China Electronics Technology Group Co., one of the nation's 122 centrally-administered SOEs.Zhang said the centrally-administered SOEs, as the backbone of China's economy, should focus on increasing their competitive edge while developing hi-tech industries and nurturing their own brands with independent intellectual property rights.During the January-to-September period, the combined net profit of China's centrally-administered SOEs totalled 641.65 billion yuan (96.6 billion U.S. dollars), up 55 percent year on year.

BEIJING, Sept. 14 (Xinhua) -- China on Tuesday called on Papua New Guinea to facilitate Chinese investment in the island country in southwest Pacific Ocean."We hope Papua New Guinea will provide conveniences to Chinese business investment in your country and seek common growth," Chinese Vice Premier Li Keqiang told the visiting Prime Minister of Papua New Guinea Michael Somare.Li highlighted Papua New Guinea's role as China's important trade partner and investment destination among Pacific island countries.Bilateral trade totaled about 860 million U.S. dollars in 2008, according to the Chinese Ministry of Commerce.Chinese Vice Premier Li Keqiang (R) meets with Prime Minister of Papua New Guinea Michael Somare in Beijing, capital of China, Sept. 14, 2010.Somare said his country would like to improve the investment environment, promote mutually beneficial cooperation with China and make positive efforts to advance bilateral cooperation and enhance friendship.Somare is leading a delegation to Beijing after his stop in China's port city Tianjin, where he met with Chinese Premier Wen Jiabao on the sidelines of the annual meeting of the New Champions 2010, also known as the Summer Davos.This was the second meeting between Li and Somare as Li visited Port Moresby, capital and the largest city of Papua New Guinea, last November.In their meeting in Diaoyutai Guesthouse in western Beijing later Tuesday, Li stressed the good momentum of bilateral relations in recent years, saying the two countries maintained frequent high-level exchanges and sought pragmatic cooperation in a wide range of fields.China and Papua New Guinea shared many political stances, complemented each other economically and enjoyed a huge potential for enhanced relationship, Li said.Looking to the future, Li said China would like to increase exchange of visits, expand trade and investment, explore cooperation in agriculture, forestry, fishery, energy, resources, transportation, culture, education with the island country.Li reaffirmed China's commitment to seeking stronger coordination and cooperation with Papua New Guinea on international and regional issues.Somare will conclude his China visit on Wednesday.

HANGZHOU, Sept. 11 (Xinhua) -- Nearly 1,000 graves were damaged in a mud flow that hit east China's Zhejiang Province Saturday after torrential rains, caused by tropical storm Meranti, triggered landslides, a debris flow and delayed flights.However, no causalities have been reported as of 11 p.m. after Hangzhou, capital of Zhejiang, was hit by nine landslides and a debris flow, said Zhejiang flood control officials.After the mud flow damaged 952 graves at the Meinushan Cemetery in Binjiang District, the district government ordered work crews to relocate exposed remains to safe places and reinforce existing graves, said officials.Torrential rains have been pounding the city since 4 a.m. Officials reported that by 7 a.m. the rainfall has reached 232 mm, a rarely seen accumulation in only three hours.In Shanghai, more than 300 outgoing flights, both domestic and international, were delayed for more than 30 minutes as of 5 p.m. at Shanghai Pudong International Airport.However, no flights have yet been canceled, according to airport security staff.Also, inbound flights have not been seriously affected, with fewer than 10 flights being delayed prior to landing, they said.Additionally, flights were not affected at the other civilian airport, Shanghai Hongqiao International Airport.

BEIJING, Oct. 15 (Xinhua) -- The 17th Central Committee of the Communist Party of China (CPC) opened its fifth plenary session in Beijing Friday to discuss the nation's next five-year development plan.The four-day meeting will review proposals for the country's 12th five-year program (2011-2015) on national economic and social development.The period would be critical for building a moderately prosperous society, the Political Bureau of the CPC Central Committee announced last month.It would be a time of difficult issues for deepening the reform and opening-up process while accelerating the transformation of the nation's economic development pattern, said the announcement.China has pledged to build a "xiaokang" -- moderately prosperous -- society in the first two decades of the 21st century."The next five-year program will be vital for dealing with difficulties to realize the objective by 2020," said Prof. Hu Angang, a prominent expert on China's national situation in Beijing."The new program will basically be in accordance with the principles of Scientific Outlook on Development," Hu said.Despite of high GDP growth for years, China still faces huge challenges in development, ranging from unbalanced economic growth pattern, widening gap between urban and rural areas and between different regions, to environmental problems as well as international trade protectionism."China's export-driven economic growth is unsustainable," said Justin Yifu Lin, World Bank Chief Economist and Senior Vice President."Transformation of the country's economic growth pattern should still be a major issue for the next five years, 15 years and even a longer period of time."The CPC Central Committee Political Bureau said in a last month's statement that transformation of the economic growth pattern should be based on improving people's livelihoods.President Hu Jintao has pledged to adopt "Inclusive Growth," a concept created and advocated by Asian Development Bank in 2007, for resolving social problems as a result of economic development.According to Hu, inclusive growth means to spread the benefits of economic globalization and development among all countries, regions and people and to realize balanced economic and social progress through sustainable development.World Bank President Robert Zoellick said developing countries will play a more important role in balancing and stabilizing the world economy, and China's effort will be of great significance for restructuring the world economy after global downturn.A draft version of the proposals for the 12th five-year program has been offered to some delegates of the CPC's 17th National Congress and organizations outside the Party.The document was further revised based on their suggestions.Sources with the CPC said the proposals, accumulated from throughout the Party and other organizations, would become a guideline document for China's continued reform and opening-up process as well as socialist modernization.