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BEIJING, April 22 (Xinhua) -- A leading Chinese government think tank Thursday forecast the country's 2010 economic growth would top the 8-percent target set by the central government by almost 2 percentage points.The Chinese Academy of Social Sciences (CASS) forecast China's gross domestic product (GDP) would expand by 9.9 percent this year, 1.2 percentage points higher than last year's growth rate.Its forecast is higher than the 9.6-percent economic growth predicted by the Asian Development Bank earlier this month.Fixed assets investment would rise 33.3 percent year on year in 2010, said a blue book on China's 2010 economic prospects jointly released by the CASS and the Social Sciences Academic Press.The CASS said a slim chance existed of serious inflation in China this year with the consumer price index (CPI), a main gauge of inflation, growing within a moderate range.The book also said the government should make economic policies more flexible and better targeted over the rest of the year, while mapping out plans to withdraw stimulus measures gradually within the next two years without jeopardizing economic growth.China's GDP grew 11.9 percent year on year in the first quarter to 8.06 trillion yuan (1.19 trillion U.S. dollars) and fixed assets investment rose 25.6 percent to 3.53 trillion yuan during the same period.The country's CPI rose 2.4 percent year on year in March, below the government target limit of 3 percent.
GUIYANG, May 14 (Xinhua) -- A toxic gas burst during an illegal coal mining operation has killed 21 people and injured five others in southwest China's Guizhou Province Thursday, officials said Friday.A total of 31 miners were working in a shaft of Yuanyang Colliery when the accident occurred at about 9:40 p.m. in Puding County, Anshun City. Rescuers on Friday confirmed that 10 people had escaped.The gas burst was triggered by the detonation of explosives for illegal mining, the rescue headquarters said after an initial investigation.The private mine, a combination of three minor collieries, began to improve its infrastructure facilities in 2008 when it received the first of the six necessary mining licenses from the local authorities.Ma Mintang, survivor of the gas outburst, receives treatment in Renmin Hospital of Anshun City, southwest China's Guizhou Province, May 14, 2010. A total of 31 miners were working in a shaft of Yuanyang Colliery in Puding County of Anshun City when a gas outburst occurred at about 9:40 p.m. on Thursday. Rescuers on Friday confirmed that 10 people survived and 21 bodies recovered from the coal mine.Mining was prohibited until the mine passed inspections by authorities and gets the other five business licenses, but the company secretly started mining last year under the guise of shaft maintenance, said Hu Yingze, director of the county coal mining administration.It had illegally produced more than 3,000 tonnes of coal so far, which was, in fact, theft of national resources, he said.Sun Guoqiang, vice governor of Guizhou, blamed county-level authorities for failing to examine the mine."Did anyone of you visit the mine after approving the shaft maintenance project?" Sun asked officials of the county's coal mining administration and work safety watchdog.Rising coal prices had driven the owners to start illegal production as the drought season cut short water supplies for power plants, which had to turn to coal. The market price for coal had risen to about 370 yuan (54 U.S. dollars) per tonne from the normal price of about 300 yuan, said Sun.

BEIJING, March 31 -- The shifting of a 40-year-old system of setting annual iron ore prices to a short-term pricing mechanism may shake up the Chinese steel industry by creating an even playing field for all steel mills - large and small - in terms of raw material costs.BHP Billiton said on Tuesday that it had concluded agreements with a significant number of Asian customers to shift pricing for the majority of its iron ore to short-term contracts, which are based on market prices.A worker at Liaoyang Iron and Steel Company, Liaoning province. There are 1,200 steel mills in China, but only 112 have licenses to import iron ore at long-term prices. Unlicensed firms have to buy iron ore from the spot market.Vale wants a new pricing system every quarter, said Pedro Gutemberg, director of marketing and research at Vale in Beijing on Tuesday, speaking at an industry conference"A more time-adjusted pricing mechanism is needed in order to better reflect real market prices," he said. "Benchmark prices are over. This is a market-oriented industry."That shift may be of some value to smaller steel mills."Vale has offered quarterly priced iron ore to us, which means we could buy iron ore at the same prices that large steel mills pay," said a sales manager at a small, private steel mill that doesn't have an iron ore import license.
BEIJING, April 19 (Xinhua) -- China's Vice President Xi Jinping Monday told members and organizations of the Communist Party of China (CPC) they had strict responsibilities in restoring normal life in quake-stricken Qinghai Province and helping the survivors.Xi, a member of the Standing Committee of the CPC Central Committee Political Bureau, made the requirements at a meeting of senior CPC leaders in Beijing on Party building.Party members, officials and organizations responsible for civil affairs should make sure quake-affected people have enough food, clothes, drinking water and shelters, Xi said.CPC members, officials and organizations working in health-care fields should treat the injured and prevent disease outbreaks, while members working in education should work to resume school classes, Xi said.Other CPC officials and members in transport, electrical power and telecommunications should make efforts to repair infrastructure, and restore power, water supplies and road transport as soon as possible.He Guoqiang, head of the CPC Central Commission for Discipline Inspection, who was also present at the meeting, underlined disciplinary rules for quake relief work.
BEIJING, May 8 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for developed nations to assist the developing world in its green economy endeavor by technology transfer, financial assistance and market liberalization.Green economy offers a new model where people could both protect the climate and develop the economy, said Li at the International Cooperative Conference on Green Economy and Climate Change here Saturday.Li urged countries across the world to focus on developing new energies and promoting the development of energy-saving and environmental protection industries.Li encouraged people to live in a more energy-saving and low-carbon way, citing a "green consumption" concept. Chinese Vice Premier Li Keqiang delivers a speech on the opening ceremony of International Cooperative Conference on Green Economy and Climate Change in Beijing, capital of China, May 8, 2010.He said international cooperation in the framework of green economy and climate change is crucial to the recovery of global economy and the sustainable development of Chinese economy.With a theme of "Low carbon, New energy and Sustainable development," the conference was organized by the China Center for International Economic Exchanges. The conference has invited leaders, environment officials and entrepreneurs from
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