ECONOMIC TIE-UP: The 15th Investment & Trade Forum for Cooperation Between East & West China opened on April 6 in Xi'an, capital of Shaanxi Province, attracting more than 5,700 foreign visitors. This year's forum aims to deepen economic cooperation between eastern and western regions and propel prosperity in west China (LI YIBO)

Economic Trend

China's economy is expected to grow 9.6 percent in 2011, even as inflation remains a threat for Asia's growth engine as well as other economies in the region, the Asian Development Bank (ADB) said in its 2011 Asian Development Outlook report released on April 6.

With inflation pressures building and tightened monetary policy, China's GDP growth is forecasted to be moderate this year, compared with a growth of 10.3 percent in 2010, said the ADB, which expected a growth of 9.2 percent in China in 2012.

The inflation rate, which averaged 3.3 percent in 2010, may pick up to 4.6 percent in 2011, lifted by abundant liquidity and higher food and commodities prices. ADB estimated the inflation will ease back to 4.2 percent in 2012.

Poultry Imports

China on April 2 ordered a ban on imports of poultry products from the Zeeland Province of the Netherlands where an outbreak of H7N1 bird flu virus was reported on March 22, said the General Administration of Quality Supervision, Inspection and Quarantine and the Ministry of Agriculture.

Any poultry and poultry products mailed or carried by tourists from the Netherlands will be returned or destroyed. Poultry and poultry products, if found from the European country on ships, flights or trains that stop in China, will be sealed off from other products to prevent contamination.

Rare Earth Profits

The Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co., China's leading rare earth producer, said on April 6, its net profit reached a record high of 750.74 million yuan ($114.6 million) in 2010 due to rising rare earth prices.

The company's net profit was 55.77 million yuan ($8.52 million) in 2009.

The company attributed the profit surge to higher prices of rare earth products and the government's policies for promoting the development of the rare earth industry.

The company said its business revenue totaled 5.26 billion yuan ($803.79 million) last year, a year-on-year increase of 102.78 percent from 2009.

Hong Kong Property

The Hong Kong Land Registry announced that the number of sale and purchase agreements for all building units received for registration in March was 13,501, up 8.9 percent over February and 6.3 percent year on year.

Among the sale and purchase agreements, 10,456 were for residential units, up 0.6 percent over February, but down 3.7 percent compared with March 2010.

The sale and purchase agreements were valued at about HK$69.4 billion ($8.92 billion), up 26 percent month on month and 19.4 percent year on year.

Western Fair

The 12th Western China International Fair will be held on October18-22 in Chengdu, capital of southwestern Sichuan Province, to promote industry transfer and introduce new projects to west China.

The fair will cover more than 12,000 square meters with six exhibition halls. The latest technological achievements and products, including 3D technology and intelligent machines, will be the focus of the fair, said Mu Xinhai, Secretary General of the Western China International Fair.