China morning round-up: Inflation figures

A vendor counts money at a wet market in Shanghai, 9 July 2012
Image caption China's consumer price growth could cool further in coming months, economists say

Newspapers focus on China's latest inflation figures , which showed that consumer prices grew at their slowest rate in more than two years in June.

The Consumer Prices Index (CPI) for June rose 2.2% from the same month in 2011, China's statistics bureau said on Monday.

This is the lowest inflation rate in 29 months, China Daily and the Global Times report.

Economists told the People's Daily Overseas Edition that China's consumer price growth could cool further in coming months, giving policymakers greater leeway to cut interest rates and stimulate economic growth.

Shanghai Morning Post warns that some analysts see China's economic growth falling below 8% in the first half of this year. The government is due to announce data on Friday.

Meanwhile, Guangzhou's Southern Metropolis Daily says an official from the National Development and Reform Commission told journalists that China might cut its fuel price again on Wednesday.

In other news, papers like the Shanghai Daily report on the ceremony held in Haikou , where nine crew on a flight from Xinjiang's Hotan city were rewarded with cash, apartments and cars for foiling a hijack attempt on 29 June.

The 22 passengers who helped overpower the six suspects were also rewarded with lifetime free flights by the Hainan Airlines Group, Beijing Times and Southern Metropolis Daily report.

China Daily and Beijing News say the Chinese cabinet published a new regulation on the "three expenses", namely overseas trips, vehicles and hospitality spending.

The regulation was drafted after a recent government audit report was criticised for not clearly defining the "three expenses" concept.

Officials face dismissal if they are found to overspend on such items, reports say.

The Southern Metropolis Daily says this is the first time that the Chinese government set punishments for officials who spend on lavish offices and luxury goods for office use.

The national papers also continue coverage on the Asean foreign ministers summit in Cambodia.

The Global Times' Chinese edition says the ongoing dispute over the South China Sea has made what was seen as a talking shop, a focal point for "strategists", as China and the US rival each other at the conference.

Chinese foreign ministry spokesman, Liu Weimin, reiterated on Monday China's intentions to discuss with other Asean countries the drafting of the Code of Conduct in the South China Sea "when the time is right", reports the newspaper's English edition .

The front page commentary of People's Daily Overseas Edition blamed Vietnam and the Philippines for attempting to "Asean-nise" the South China Sea issue, warning it was tantamount to the "international kidnapping of Asean".

A China Daily editorial says Asean countries should "consolidate co-operations" with China.

"Given that the trade volume between China and Asean increased to $360bn (£232bn) in 2011 after decades of efforts, it caters to the interests of both sides to build on this good momentum and further tap the potential in trade and other fields," it said.

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