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BEIJING, Aug. 20 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), the world's biggest lender by market value, posted a profit after tax of 66.7 billion yuan (9.77 billion U.S. dollars) in the first half of this year, up 2.8 percent over the same period last year.     The increase was mainly attributed to gains on incomes from the bank's intermediate business, including investment banking business and fund dealing commission, which grew 17 percent from ayear earlier to stand at 28.3 billion yuan, according to the bank's half-year report released Thursday.     Outstanding loans amounted to 5.44 trillion yuan by the end of June, jumping 18.9 percent from the beginning of this year in response to the country's economic stimulus plan.     The non-performing rate was 1.81 percent by June, 0.48 percentage points lower than at the beginning of 2009, as outstanding bad loans decreased 5.8 billion yuan after the bank intensified risks control.     At the end of June 2009, the bank's deposits increased 1.69 trillion yuan from the beginning of the year, leaving its outstanding deposits exceeding 10 trillion yuan.     The total assets of ICBC stood at 11.4 trillion yuan by the end of June, up 17.2 percent from the end of last year.     Earnings per share for the bank amounted to 0.2 yuan and the bank's stock advanced 3.26 percent to end at 4.75 yuan in Shanghai Stock Exchange Thursday. ICBC was simultaneously listed in Shanghai and Hong Kong in October 2006.

BEIJING, Oct. 10 (Xinhua) -- Chinese President Hu Jintao met with President Lee Myung-bak of the Republic of Korea (ROK) and Japanese Prime Minister Yukio Hatoyama here on Saturday, who are here to attend the second trilateral leaders' meeting.     Hailing the progress of China's relations with the two countries, Hu said China is ready to make joint efforts with Japan and the ROK to implement consensus, boost healthy development of China-ROK strategic cooperative partnership and China-Japan strategic mutually-beneficial ties.     The substantial cooperation between China and the two countries in various areas had been further expanded, he said.     Hu congratulated the success of the second trilateral leaders' meeting held in Beijing on Saturday, calling on the three nations to seize historical opportunities to further strengthen strategic trust, respect respective major interests and concerns, and make concerted efforts for mutual benefits and common development.     The Chinese president hopes the three countries to facilitate east Asian cooperation and jointly respond to regional hot issues and global challenges to unveil a new chapter for peace, cooperation and development of east Asia. Chinese President Hu Jintao (C) meets with South Korean President Lee Myung-bak (R) and Japanese Prime Minister Yukio Hatoyama, who are here to attend the second trilateral leaders' meeting, at the Diaoyutai State Guesthouse in Beijing, capital of China, on Oct. 10, 2009.    In response, Lee Myung-bak said the three countries had made great achievements in expanding cooperation in the past ten years. "China's economy is now stabilizing and turning for the better, which plays a positive role in promoting economic recovery of the ROK and Japan," he added.     Lee spoke highly of Hu's important speech on the UN climate change summit in New York last month, expressing appreciation over China's contribution to reopening the six-party talks and promoting a nuclear-free Korean Peninsula.     Hatoyama extended congratulations to Hu on the 60th anniversary of the founding of the People's Republic of China, adding he was glad to see China's great achievements.     He told Hu the Japanese government would like to cooperate closely with China to boost bilateral ties in a spirit of drawing lessons from history and facing up to the future.     Hatoyama also expressed satisfaction over the progress of trilateral cooperation, calling on the three sides to respect each other and share successful experience to promote greater achievement of trilateral cooperation.

BEIJING, Sept. 20 (Xinhua) -- China's major state-owned enterprises (SOEs) under the supervision of the central government reported a 30-percent fall in net profit last year, the country's state assets supervisor said over the weekend.     A total of 141 SOEs under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council reported a net profit of 696.18 billion yuan (101.96 billion U.S. dollars) last year, down 30.8 percent from a year ago, the commission said in an online statement.     Yet, total assets of the 141 SOEs rose for the fifth consecutive year since 2004. Assets of the 141 state firms were worth 5.56 trillion yuan at the end of 2008, up 8.6 percent from the previous year.     Net profit of centrally administered SOEs had been rising for four years in a row from 2004 to 2007, but it fell last year as the global financial crisis struck.     The commission said 83 out of the total 141 were able to report a year-on-year growth in net profit last year.     These 141 SOEs also turned in taxes worth 1.04 trillion yuan last year, up 18.6 percent from a year ago.     The total assets of centrally administered SOEs were augmented by 2.6 trillion yuan in the past five years, or at an annualized average of 13.7 percent from 2004 to 2008.

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BEIJING, Sep. 10 (Xinhua) -- Chinese President Hu Jintao put forward four proposals for improving ties with Central Africa when meeting with his counterpart Francois Bozize Yangouvonda Thursday.     "China attaches great importance to the friendship with Central Africa, and we are willing to work with Central Africa to create a new era for our bilateral ties." Hu stressed.     Hu made four proposals for the enhancement of bilateral ties during the meeting.     First, Hu said, the two countries should cement the political foundation of bilateral ties and strengthen communication and coordination on major issues and important affairs. Chinese President Hu Jintao (3rd L) meets with President of Central Africa Francois Bozize Yangouvonda (3rd R) at the Great Hall of the People in Beijing, capital of China, on Sept. 10, 2009In his second proposal, Hu urged the two sides to expand economic and trade cooperation. China is willing to strengthen economic, trade and technical cooperation with Central Africa to benefit both sides and develop jointly, Hu said.     Hu stressed personnel and cultural exchanges and cooperation in his third proposal, urging the two countries to make favorable efforts and build platforms for expanding cultural, educational, sanitary, media and non-governmental exchanges, so as to deepen mutual understanding and develop friendship.     He at last proposed the two countries strengthen coordination in multilateral affairs. China is ready to maintain consultation and coordination with Central Africa under the framework of the United Nations and the Forum on China-Africa Cooperation on global issues, so as to jointly safeguard the developing countries' interests, Hu said.     "China and Central Africa are friends as well as friendly and cooperative partners," Hu said, adding that it has been the Chinese government's persistent policy to develop long-term, stable, friendly and cooperative relations with Central Africa on the basis of sincerity, equality and mutual benefit.     Bozize, who arrived here Wednesday for a week-long state visit to China, said he fully agrees with Hu's notion.     Bozize will also visit southwest China's Yunnan Province and southern Guangdong Province

BEIJING, Aug. 14 (Xinhua) -- Premier Wen Jiabao on Friday urged young Chinese and Africans to remember the traditional friendship and work together to promote Sino-African relations.     "I hope young people from China and African countries will learn from each other and help each other, treat differences with an open mind, and contribute your wisdom and strength to building the strategic China-Africa partnership," Wen said.     He made the remarks while addressing the opening ceremony of the third China-Africa Youth Festival and a farewell ceremony for young Chinese volunteers departing for Africa. Chinese Premier Wen Jiabao (R, front) shakes hands with an African young man attending the opening ceremony of the third China-Africa Youth Festival in Beijing, capital of China, Aug. 14, 2009. Wen on Friday attended the opening ceremony of the third China-Africa Youth Festival and a farewell ceremony for young Chinese volunteers departing for Africa.    The festival, originally proposed by Wen at the second China-Africa Cooperation Ministerial Conference in Ethiopia in December 2003, has become a platform for China-Africa exchanges.     "Young people bear the hope of a nation and they also shoulder the future of a friendly China-Africa relationship," Wen said, expressing his hope young people would fulfill their historic responsibilities and create better conditions for friendship development.     The Chinese government decided in 2006 to send 300 young volunteers to Africa to work in medical, agricultural, sports and educational field.     Wen encouraged the volunteers to serve the African people with their knowledge and skills, win their friendship and trust, and learn from them.     More than 750 guests, including youth delegates from 49 African countries, attended the ceremony.

BEIJING, Aug. 21 -- China Mobile Thursday reported its first drop in net profit since 1999 because of rising competition from rivals China Telecom and China Unicom and its weak 3G performance.    The world's biggest telco posted a net profit of 30.1 billion yuan (US.42 billion) in the second quarter, compared with 30.6 billion yuan a year ago.     Analysts had previously forecast a net profit of 31.4 billion yuan for the period.     "A macro-economic slowdown, a rising mobile communications penetration rate and changes in the competitive environment of the telecommunications industry in China have posed challenges to the development of the business in the first half," China Mobile said in a statement.     In the first six months, China Mobile posted a net profit of 55.3 billion yuan, a 1.4 percent annual growth. Its revenue totaled 212.9 billion yuan, an 8.9 percent rise from a year ago.     China Mobile's monthly average revenue per user, a key index of the industry to monitor a telco's profitability, was 75 yuan in the first half, about 10 percent less than a year ago.     China Mobile added 35.87 million users in the first half to total 493 million by the end of June. The telco had 957,000 3G users since it started a trial 3G service in April.     In the first half, China Mobile took 66 percent of the total new additional mobile users, compared with 85 percent a year ago, due to the "changed competitive landscape," the company said.     "The gap between China Mobile and other rivals will become narrow but it will still dominate the market for about two years," said Wu Wenzhao, a telecommunications analyst of Analysys International.     In January, China issued 3G licenses to China Mobile, China Unicom and China Telecom.

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BEIJING, Aug. 27 (Xinhua) -- China's top legislature concluded its four-day, bimonthly session Thursday, after approving the country's first armed police law and climate change resolution.     Top legislator Wu Bangguo told the closing meeting of the 10th session of the Standing Committee of the 11th National People's Congress (NPC) that the new armed police law clarified the nature, command mechanism, responsibilities, duties and rights of the paramilitary force. "It offers solid legal backing for the armed police to complete the country's security tasks, maintain social stability and safeguard the legitimate rights and interests of citizens and organizations," Wu said.     Climate change has been an issue of concern among lawmakers.     Wu said the newly-approved resolution was an "important achievement" and a significant measure taken by the top legislature to deal with the global challenge.     Wu, chairman of the NPC Standing Committee, said the resolution praised the government's work on climate change, emphasized the importance of the issue, clarified guidelines, basic policies, measures as well as China's stance.     He said lawmakers proposed many suggestions on a climate change report, presented by the State Council (Cabinet), and a draft of the resolution.     Lawmakers agreed climate change was a challenge faced by all humankind and needed international cooperation.     Wu said China "as a responsible nation" had been focusing on the issue, set energy efficiency and environmental protection as basic state policies and achieving sustainable development as national strategies.     He said the country had made laws and regulations to climate change and set energy saving and emissions reductions as binding targets in the state's medium and long-term development plan. The 10th session of the Standing Committee of the 11th National People's Congress (NPC) is held in Beijing, China, Aug. 27, 2009. The 10th session was closed on Thursday in Beijing. The country had "actively participated international cooperation on climate change and made contributions in mitigating and adapting to climate change."     He said the NPC Standing Committee "actively" made and improved laws related to the issue, listened to work reports regularly and conducted law enforcement inspections on resources and environment, which offered great support to the work of the government.     The top legislature also agreed Thursday a legislation overhaul with the updating and revision of 141 provisions in 59 different laws.     Wu said the collective updating and revision of laws was an important step to ensure a legal system with Chinese features would become "more scientific, unified and harmonious" and form a complete socialist legal system by 2010.     "The law revisions at this session solve the problem that some laws and regulations are incompatible with the economic and social development," he said.     This was the second legislation overhaul after the NPC Standing Committee in June agreed to abolish eight outdated and redundant laws, including one covering police stations that dated back to 1954.     Wu said the next step was to revise laws quickly, and asked government departments to enact regulations to help implement the laws, and streamline local regulations.     He said one of the focuses of the NPC's supervision work was to oversee the economy. One of the roles of NPC Standing Committee was supervision of the government.     He said due to the complicated domestic and overseas economic situation, the NPC took supervision of the implementation of the government's important decisions as top priority.     Each legislative session since April had deliberated work reports of some government departments, he said.     The NPC Standing Committee also investigated topics such as affordable housing construction at the suggestion of lawmakers. It would also supervise the implementation of the central government's public investment plan valued at 908 billion yuan (133.5 billion U.S. dollars) this year, part of the 4-trillion-yuan stimulus plan initiated late last year.     Wu said the investigation report on low-rent housing would be submitted to a legislative session in October.     "Such work plays an important role in promoting the implementation of central government decisions and stable and relatively fast economic development."     Wu said this session listened to a routine report on the implementation of the government's plan of economic and social development, as well as a report on economic restructuring and transforming the development model.     Lawmakers agreed that although the economy suffered a big drop during the fourth quarter last year, the 7.1-percent GDP growth in the first half of this year showed sound momentum, "which was not easy and a result of the efforts of the whole country."     Wu said it showed that the central government's decision of dealing with the impact of the global economic downturn was "completely correct" and the measures taken were "timely and effective."     Legislators said efforts should be made to ensure this year's economic and social development goals could be achieved.     The top legislature also accepted Thursday the resignation of Cui Mingjie, an entrepreneur of central Henan Province, from his post as NPC deputy, for alleged involvement in "serious economic crimes."     It also approved the expulsion of two NPC deputies -- Xu Zongheng, former mayor of south China's Shenzhen City, and Liu Youjun, director of the Guangdong provincial department of labor and social security -- for "serious violations of discipline."     According to the Credentials Committee of the NPC Standing Committee, the total number of deputies to the 11th NPC stands at 2,979.

BEIJING, Sept. 9 (Xinhua) -- Chinese President Hu Jintao Wednesday urged the country's senior officials to take the 60th anniversary of the founding of the New China as a new start for carrying on its modernization drive while maintain social stability.     Hu, also general secretary of the Communist Party of China (CPC) Central Committee, made the remarks when presiding over the 16th group study for the CPC Central Committee Political Bureau, which was themed on understanding and practicing the socialist modernization since the founding of New China.     "Many important revelations come up if we look back on how the Party has led people on the path of socialist modernization," said Hu, stressing the importance of upholding economic development as the central task and promoting comprehensive and sustainable development.     Hu stressed the study of the principle of "freeing our mind, seeking truth from facts, be united and look ahead", which was put forward by late Chinese leader Deng Xiaoping.     Hu said that policies regarding reform should be scientific and the methods of practicing these policies should be well-coordinated. Such reform policies should cover economy, politics, culture, society and all other aspects.     Hu emphasized on ensuring social stability while deepening reform.     "Without stability, nothing can be done and even those we have achieved will be lost. We should pay special attention to conflicts occurring among people and solve them properly," he said, adding that various issues that affect social stability should be coped with carefully to ensure people's livelihood.     Hu urged all study members to regard the 60th anniversary of the founding of the Republic of China as a new starting point to deepen socialist modernization and made new achievements in building a well-off society.

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NANNING, Sept. 2 (Xinhua) -- Authorities in south China's Guangxi Zhuang Autonomous Region announced Wednesday the addition of 20 million yuan (2.94 million U.S. dollars) to a fund financing efforts to fight drought as hot, dry weather maintains its grip on the region.     The Flood Control and Drought Relief Headquarters in Guangxi simultaneously launched a drought control response mechanism which requires local departments such as weather, water resources and power supply to cooperate closely to guarantee success of the efforts to fight drought.     According to the local weather department, Guangxi suffered its hottest weather in 58 years from Aug.1-30, with the temperature averaging 28.9 degrees Celsius.     The south Chinese region has had 1,152 mm of rainfall in the past eight months, a drop of 12.7 percent from the average level for the same period in normal years. It had rainfall of only 91 mm last month, down 57 percent from the average level for the same month in normal years.     The Flood Control and Drought Relief Headquarters in Guangxi said 638,500 people, plus 299,200 livestock had been suffering from water shortages.     And 280,850 hectares of cropland affected because of hot weather and less rain, included 598 hectares of crops that died in the arid conditions.     The regional weather service's forecast Monday said Guangxi's drought would continue during the coming week.     Guangxi has already made great efforts in drought control. More than 53.41 million yuan (about 7.86 million U.S. dollars) has been set aside so far.     The region's department of water resources has dispatched five working groups to areas such as Laibin, Chongzuo, Wuzhou, Hezhou, Hechi, all in Guangxi, to supervise or guide drought control efforts.     Zhong Xiangting, the department's chief, said the region had since late August mobilized more than 1.71 million people to fight drought, which has helped irrigate 148,470 hectares of crops and temporarily solve water shortages faced by 390,280 people and 193,110 livestock.

HANGZHOU, Aug. 22 (Xinhua) -- Pakistani President Asif Ali Zardari said Saturday his country welcomes Chinese investors.     Zardari made the call during his visit to Hangzhou, capital of east China's Zhejiang Province, the first leg of his ongoing China tour. Pakistani President Asif Ali Zardari (C, front) attends the Forum on Pakistan-Zhejiang (China) Trade and Investment Opportunities: Current Co-operation and Future Prospects in Hangzhou, capital of east's China's Zhejiang Province, Aug. 22, 2009. With the gradual recovery of its economy, Pakistan is making efforts to explore new international markets and remove barriers for investment and trade so as to attract more foreign investment, Zardari told reporters in Hangzhou.     Zhejiang is one of the Chinese provinces which enjoy close exchanges with Pakistan. A total of 43 Pakistan companies have their businesses in Zhejiang, yielding fruitful results in silk, water conservation, agriculture, among others, according to Zardari.     Zardari said his country will introduce a package of favorable policies for businesses in Zhejiang to invest in Pakistan, which will inject a new vitality into its economy.     Officials from Pakistan's investment promotion departments said Chinese investors are needed by Pakistan's agriculture, hydro power and energy sectors. The infrastructure alone will require an initial investment of 110 billion U.S. dollars.     Chinese fruit preservers can also play a crucial role in Pakistan as about 40 percent of Pakistan's fruit can not be moved to other places due to the lack of freezing vehicles, according to Pakistani officials, who commented on the basis of anonymity.     Zardari was paying his fourth visit to China since taking office last September.     He attributed his frequent visits to the intent of bringing back home China's experience in development. Guests attend the Forum on Pakistan-Zhejiang (China) Trade and Investment Opportunities: Current Co-operation and Future Prospects in Hangzhou, capital of east's China's Zhejiang Province, Aug. 22, 2009.