2010 GDP growth likely to reach 10%
CHINA S 2010 economic growth was estimated to reach about 10 percent, according to central bank governor Zhou Xiaochuan.
In a speech published Tuesday by the People s Bank of China on its Web site, Zhou said he was not quite confident that the nation s economy had returned to normal, as external conditions continue exerting an important impact on China s economic recovery. Zhou said China should be prudent in its macroeconomic policies and needed to conduct counter-cyclical adjustments against over-expansion. He also reiterated that the government would promote market-oriented reform of the interest rate regime in a gradual and unwavering way.
147 State-run publishing houses corporatized
THE General Administration of Press and Publication (GAPP) announced Tuesday that 147 State-run publishing houses had been corporatized to become self-financing enterprises.
The reform to convert 148 publishing houses into market players had come to an end, with one closed down and 147 corporatized, according to Liu Binjie, head of the GAPP. According to the GAPP, the new publishers will enjoy tax breaks and other preferential policies. The new publishers would create six or seven giant publishing groups devoted to areas such as education, science and technology, economics and health care.
CNOOC plans US$151 billion investment
THE country s largest offshore oil and gas producer CNOOC plans to invest between 800 billion and 1 trillion yuan (US$121-151 billion) over the next five years to boost production and expand overseas.
China National Offshore Oil Corp. (CNOOC) produced more than 50 million tons of oil equivalent of oil and gas in offshore China last year, China Business News quoted CNOOC general manager Fu Chengyu as saying. CNOOC targeted pumping 50 million tons of oil equivalent from overseas, by 2020, and generating 50 million tons of oil equivalent from deepwater sources and building liquefied natural gas-receiving capacity of 50 million tons of oil equivalent in China s coastal areas, the newspaper said.
