China's GDP grew 7.1% in First Half; No Inflation Problem
In the first half of this year, China's GDP grew 7.1%, which is 1% higher than in the first quarter and 0.3% higher than the 4th quarter of 2008. Zhu Zhixin from the National Development and Reform Commission told media this afternoon (August 7) that the measures taken by the central government to cope with the financial crisis have helped spur economic growth. Su Ning, the vice-governor of the People's bank of China (PBOC) pointed out once again that the "moderately loose" monetary policy has been successfully. He added that the producer price index (PPI), a major measure of inflation at the wholesale level, dropped 5.9% year-on-year, therefore China has no problem of inflation.

National Fitness Day Marked Tomorrow
Tomorrow (August 8) will be the first National Fitness Day, a campaign aiming at encouraging the public to take part in more sports activities. Throughout the country, various sport venues will open to the public for free, such as the Bird's Nest and the Water Cubic in Beijing. Some venues in Guangzhou will also offer free access or important discounts.

Shenzhen Products Look for Buyers in Australia
Shenzhen joined hand with the city of Brisbane in Australia to organize an economic and trade conference during at the Royal Queensland Show which opened yesterday (August 6). The show is the largest annual event in Queensland so Shenzhen has organized 50 companies to attend, from sectors as diverse as digital technologies, electronic household appliances, garments, ceramics, environmental protection and new materials. Officials told media that Shenzhen is focusing on helping its companies explore new possibilities on markets abroad. In the second half of this year, the government will help companies attend more famous overseas exhibitions by subsidizing their booth fees.

photo from xinhuanet

Morakot Approaches Zhejiang or Fujian provinces
As typhoon Morakot gains momentum and heads toward China's mainland, coastal regions are busy bracing for its impact. It is expected to land in eastern Zhejiang or northern Fujian between Saturday noon and Sunday morning. Although it won't directly hit Guangdong, it may cause a new round of rainstorms in eastern Guangdong.

photo from sina.com.cn