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BEIJING, Dec. 12 (Xinhuanet) -- For many multinational firms, the past 10 years in China have not only marked the rise of the world's second-largest economy but have also been a decade of expansion and profit growth.As they look back at this "golden decade", which is often used to describe the days after China entered the World Trade Organization (WTO) in 2001, their early expectations and ambitions in a more liberalized Chinese market were found to be more than fulfilled.When German auto giant BMW set foot on the Chinese mainland by establishing its first office in Beijing in 1994, its products were still far too luxurious for ordinary Chinese.In 2001, only 6,500 vehicles were sold under the BMW and Mini brands in China.NYK Diana, a container ship, anchors at Qingdao Port in East China's Shandong province on Thursday, as workers load cargo.But sales started to pick up with China's WTO entry, when the removal of trade barriers brought unprecedented economic growth and a booming market.In 2010, the vehicle maker, which started a joint venture with the domestic Brilliance China Automotive in 2003, sold 169,000 vehicles in China.That record is set to be broken this year as more than 170,000 cars were sold only in the first three quarters."We are both beneficiaries and firm supporters of the open market system," said Christoph Stark, president and CEO of BMW's Greater China region.By liberalizing its market, China, which celebrated the 10th anniversary of its WTO accession on Sunday, has become a thriving market and a savior for foreign enterprises hit hard by the global downturn.In 2009, when General Motors declared bankruptcy in the United States amid the global recession, its Chinese branch saw sales rise 66.9 percent year-on-year to more than 1.8 million units.In 2010, China overtook the United States to become GM's largest national market.The list of similar companies is extensive, as China's decade-long membership of the WTO has helped the Asian powerhouse attract 347,000 foreign firms with investment of more than 0 billion in the past 10 years.Chong Quan, deputy representative for China's international trade talks, said foreign enterprises made more than 0 billion in profit in the 10-year period, with an average annual increase of 30 percent."The accession to the WTO has made China a more transparent, safe and predictable market, as well as an essential part of the global economy," said Dominique Poulique, president of Alstom China.The French power engineering and train company, with more than 30 entities and about 10,000 employees in China, is one of the major foreign suppliers to the Chinese rail transport market."Rapid changes took place in China in the past decade, with its massive investment in infrastructure construction and notable development in energy," Poulique said.Wang Zhile, director of the research center of transnational cooperation under the Ministry of Commerce, said increasing shared interests between China and multinationals are putting them into an inseparable community, one that has found win-win solutions in the past decade.There is also high-quality labor at a relatively low cost, including white-collar workers, he added.Admittedly, the huge market and rich resources have powered up multinational firms in global competition, especially during and after the financial crisis.Forty-nine percent of the responding multinational companies had higher expectations for China in the wake of the global financial crisis in 2008 and 2009, according to a recent survey by the Economist Intelligence Unit, a business information arm of the Economist Group.Although showing signs of a slowdown, China's economy is still widely expected to grow by more than 8 percent next year, at a time when debt and financial instability are weakening growth in other leading economies.Poulique said he expected China's rapid growth to continue into the next decade, especially in the infrastructure construction market."For Alstom, the top task here is to keep adapting to the changing business environment," he said.Many foreign companies are moving research and development facilities to China in the hopes of making it a base for talent and technology.In Shanghai, 347 multinationals have set up regional headquarters, with the establishment of 333 foreign-funded research and development centers.

RIYADH, Jan. 15 (Xinhua) -- Visiting Chinese Premier Wen Jiabao and Saudi Arabia's King and Prime Minister Abdullah bin Abdul-Aziz agreed on Sunday to make concerted efforts to enhance bilateral relations under a strategic framework.In their meeting, Premier Wen said Saudi Arabia is a major country in the Arab and Islamic world, which plays a significant role in regional and international affairs.He said China respects Saudi Arabia's political system, development mode as well as its culture and traditions, and is grateful for Saudi Arabia's understanding of and support for China regarding the latter's core interests and major concerns.As the world is undergoing profound changes, China is willing to strengthen coordination with Saudi Arabia on major issues, develop an all-around cooperative partnership in the energy sector, expand cooperation in trade, investment, infrastructure, high-tech, finance, security and law enforcement, so as to enrich the contents of the bilateral relations, he added.King Abdullah said that the government and people of Saudi Arabia cherish friendly feelings for China, and that he believes the strengthening of bilateral cooperation will benefit peoples of both countries.The Saudi king proposed setting up a Saudi Arabia-China high level committee to supervise the two countries' cooperation in the political, economic, cultural and security sectors. Premier Wen agreed with this proposal.On the situation in West Asia and North Africa, the visiting Chinese premier said China respect the choice of the peoples in those countries, understand and support their appeal for reforms, and back the role of regional bodies like the Arab League in maintaining stability.For his part, King Abdullah noted it was the objective of Saudi Arabia's foreign policy to maintain regional peace and stability. Saudi Arabia and China enjoy a high level of mutual trust and share similar views on many issues, he said, adding that the Saudi side wishes to step up consultation and coordination with China.Premier Wen has also met with top Saudi leaders, Secretary General of the Organization of Islamic Cooperation Ekmeleddin Ihsanoglu, and Secretary General of the Gulf Cooperation Council Abdullatif al-Zayani.In a joint statement, the two sides hailed Premier Wen's visit to Saudi Arabia as a complete success, which will contribute to their long-term friendly cooperative relations.The statement said both countries were satisfied with the progress made in bilateral cooperation, and pledged to further enhance relations within the framework of strategic relationship, so as to benefit the two peoples and contribute to regional and world peace, stability and development.The two countries agreed in the document to conduct more high-level exchanges of visits, and to expand trade, investment and cooperation in a wide range of areas. The Saudi side also reiterated its adherence to the one-China policy.Wen arrived in Saudi Arabia Saturday evening after an official visit to Nepal.After his stay in Saudi Arabia, the Chinese leader will continue his visit to the United Arab Emirates and Qatar.

BEIJING, Jan. 7 (Xinhua) -- China's land supply went up 37 percent year-on-year in 2011 amid the government's tightening measure on commercial property market, according to the Ministry of Land and Resources (MLR) on Saturday. Most of the land supply last year went to the country's 10 million government-subsidized affordable housing units that began construction in 2011, according to MLR.In the meantime, land supply for commercial residential housing totaled about 96,700 hectares last year, up only 4 percent from previous year.Planned land supply quota for construction last year were up 16.25 percent year-on-year from 180,000 hectares in 2010.

QINGDAO, Shandong, Dec. 26 (Xinhua) -- China's largest rail vehicle maker, CSR Corp. Ltd, over the weekend launched its first test train that features speeds reaching up to 500 km per hour.The six-car train with a fairshaped head is the newest in the CRH series. It has a maximum tractive power of 22,800 kilowatts, compared with 9,600 kilowatts for the CRH380 trains currently in service on the Beijing-Shanghai High-Speed Railway, which hold the world speed record of 300 km per hour.The grey-color train carrying testing and data processing facilities was designed and produced by CSR Sifang Locomotive & Rolling Stock Co., Ltd (Sifang Locomotive), a CSR subsidiary based in the coastal city of Qingdao in eastern Shandong province.Ding Sansan, the company's chief technician, said the concept of the the super-speed train design was inspired by China's ancient sword. The bodywork uses plastic materials reinforced with carbon fiber.Shen Zhiyun, a locomotive expert and academician with both the Chinese academies of sciences and engineering, said the testing of the super-speed train with speeds of up to 500 km per hour will provide useful reference for current high-speed railway operations.

SAN FRANCISCO, Nov. 4 (Xinhua) -- With its popular iPhone series, Apple seized more than half of the profits generated by the top eight mobile phone manufacturers during the third quarter, said a monthly market analysis released on Friday.Apple generated a remarkable 52 percent of handset industry operating profits for the top eight OEMs (original equipment manufacturers) in the third quarter, up five percent over the same period of 2010, said Canaccord Genuity technology analyst Michael Walkley.The number was down from 57 percent in the second quarter, due to a drop in iPhone sales as customers held out for the upcoming iPhone 4S.A proud Apple customer shows off the new iPhone 4S he purchased at an Apple store in Munich, Germany.Apple's major rival in the mobile industry is Samsung. The two companies together represented 81 percent of the handset industry' s operating profits last quarter.Other major mobile phone manufacturers are Nokia, Motorola, Sony Ericsson, HTC, Research In Motion and LG.Calling it "an epic reversal of fortunes," Walkley noted that in 2007, Nokia had 67 percent of operating profits while Apple had just 4 percent. Compared with Apple's 52 percent of industry profits in the third quarter of 2011, Nokia has been relegated to its rival's former position with just 4 percent of operating profits.The analyst said he has conducted "channel checks" that show strong demand not only for the new iPhone 4S but also for the previous models of iPhone 4 and iPhone 3GS. He told technology news website AllthingsD that Apple is believed to be able to gain further value share in the December quarter and capture over 60 percent of industry profits.In a Bloomberg report on Friday, several technology analysts said the two-year-old iPhone 3GS, whose price has been slashed to zero if it is purchased with a contract, will become one of Apple' s big weapons in the coming holiday season against smartphones running Google's Android system.