➲ Economic trend

Asian Development Bank (ADB) said 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. China's GDP growth is forecasted to be moderate this year, compared with a growth of 10.3 percent in 2010 with inflation pressures building and tightened monetary policy, said the ADB.

➲ Tourism booms

China would strive to develop tourism into a strategic pillar industry of the nation's economy over the 12th Five-Year Plan period (2011-15), according to Chinese Vice Premier Wang Qishan. The Chinese Government would accelerate tourism management reforms, give full play to the fundamental role of the market in resource allocation and strive to establish a unified, open, competitive and orderly tourism market. The tourism industry, which led the economy in recovering from the financial crisis, has become a driver of the global economy, he said.

➲ Libyan unrest no threat

Bank of China (BOC) said that its business has suffered no "actual losses" from the turmoil in Libya and that the risks are controllable. According to BOC Spokeswoman Zhao Rong, BOC is monitoring the potential risks that the Libyan unrest might cause to the bank and its clients. It has taken the necessary precautions against these risks.

➲ Green targets

In 2011, China intends to reduce its energy consumption per unit of GDP by 3.5 percent compared to 2010, and the water consumption per 10,000 yuan ($1,531) of industrial value-added output is set to see a 7-percent year-on-year dip, according to China's resource conservation and environmental protection goals for 2011, released by the National Development and Reform Commission (NDRC). Meanwhile, the NDRC plans to raise the wastewater treatment rate in urban areas to 80 percent by the end of this year.

➲ Taxing rare earths

China increased its resource tax rates on rare earths in a bid to consolidate the highly fragmented industry. The new policy, effective April 1 this year, will increase the tax rates to 60 yuan ($9.2) per ton of light rare earths and 30 yuan ($4.6) for mid-heavy rare earths, from current 0.5-3 yuan ($0.08-$0.46) per ton. Analysts said it is a needed boon for the government to better protect the precious minerals and force smaller miners out of the market.

➲ BRICS robust growth

According to an estimate by the International Monetary Fund (IMF), the BRICS countries (Brazil, Russia, India, China and South Africa) will continue to see robust economic growth in 2011. The world output is projected to rise by 4.4 percent this year, while emerging and developing economies will grow at a much higher 6.5 percent, said the IMF in its latest World Economic Outlook report. As leading emerging economies, the BRICS countries will continue to outpace other countries.

➲ Encouraging investment

China will open wider to the world by encouraging foreign companies to invest, for the first time, in certain industries under a new regulation on foreign investment. The select industries, in the recently released Foreign Direct Investment Industry Guidelines, include hi-tech, clean energy, aerospace and aviation, new materials, high-end manufacturing and advanced logistics. The guidelines will replace the previous version, published in 2007. The new version highlights China's commitment to opening wider and further in both high-end manufacturing and the modern service sectors, according to China's Ministry of Commerce.

➲ Private jet sales to soar

Embraer SA, the world's fourth-largest maker of planes, expects China's private jet fleet to expand 10-fold within a decade, driven by economic growth, the increasing number of millionaires and looser regulations. In 10 years, the number of business jets in China will rise to 500 from about 50.

➲ Harbin Trade Fair

The 22nd China Harbin International Economic and Trade Fair will be held in June this year in Harbin, the capital city of Heilongjiang Province. More than 10,000 international exhibitors from 80 countries and 100,000 from China will participate in the fair. Over the years, the trade fair has become a significant international event - a window for China to fully explore the diversified international market.

➲ Regulating online payments

The Ministry of Commerce (MOFCOM) published its long-awaited guidelines for e-commerce third-party payment service providers in April in a bid to regulate China's rapidly developing business-to-consumer industry. The 16-page publication aims to create a "fair, honest and safe" transaction platform for the country's online retailers and shoppers, said MOFCOM. The guidelines echoed an ongoing campaign to crack down on activities related to copyright infringement and the production and sale of fake and counterfeit products nationwide.

 Numbers:

70%

China's urbanization rate by the end of 2030

 $480 billion

Africa needs for infrastructure development over the next 10 years

2nd

The global ranking of the Beijing Capital International Airport in terms of passenger throughput

 10%

The annual budget rate of Nigerian firms dedicated to staff training

23 Million Units

China's projected annual vehicle sales by 2015