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HONG KONG, Aug. 27 (Xinhua) -- Bank of China (Hong Kong) said Thursday its half-year profit fell by 5.6 percent from a year earlier, dragged lower by falling interest income amid the deepening economic downturn. The bank's net profit for the six months ending June 30 amounted to 6.69 billion Hong Kong dollars, down from 7.09 billion Hong Kong dollars in the same period last year. However, the bank said it represented a major improvement against the net loss of 3.75 billion Hong Kong dollars in the second half of 2008, which can be attributed to the increase in operating income as well as the decrease in impairment charges on securities investments. Net interest income decreased by 11 percent to 8.93 billion Hong Kong dollars as net interest margin narrowed by 27 basis points to 1.76 percent. But the net fees and commission income grew by 1.7 percent year-on-year to 2.95 billion Hong Kong dollars driven by the rebound of the local stock market in the first half of this year. The bank's vice chairman and chief executive He Guangbei said the performance in the first half of this year reflected the progress the bank had made in regaining its growth momentum. As the turbulence and its knocks-on effects began to subside, the bank would pursue a prudent yet flexible development strategy in an environment of change and challenge. He also said BOC (HK) would actively expand the RMB-related banking business as the sole Clearing Bank for Renminbi business in Hong Kong.
BEIJING, Sept. 17 (Xinhua) - A Chinese official vows on Thursday to curb the country's production overcapacity and avoid repetitious construction of projects that are less environmental-friendly. The move is part of the country's efforts to promote energy conservation and reduction of greenhouse gas emissions, Wan Bentai, chief engineer with the Ministry of Environmental Protection (MEP), said on half of MEP minister Zhou Shengxian. "Today's projects should never become the target of tomorrow's environment control program." He said in a speech delivered at the fifth China International Forum on Environment and Development. The development and industrialization of green economy faces an important opportunity as the country has spent a large share of its 4 trillion yuan (586 billion U.S. dollar) stimulus package on energy conservation and greenhouse gas emissions reduction projects, he said. He called for strengthened environment assessment measures on enterprises and optimizing the structure of key sectors such as the steel and auto industries. The environmental problems brought about by China's sweeping urbanization, such as garbage and waste water disposal, should be seriously dealt with, he said, while stressing the importance of addressing issues in the rural areas such as water resources contamination, land pollution, garbage disposal and fertilization-caused pollution. He also pledged that the government will intensify efforts in fostering creative and highly-efficient green technologies and encourage a green consumption model for both urban and rural dwellers. A change to people's consumption habits, such as eating less meat, is conducive to environmental protection and greenhouse gas emission reduction, said Khalid Malik, Resident Representative of the United Nations Development Program in China, in the forum. The fifth China International Forum on Environment and Development was co-hosted by the MEP and the United Nations Environment Program (UNEP). It was organized by the All-China Environment Federation. The annual forum has been held for four years with the aim of creating a platform for international organizations and Chinese government agencies to discuss issues related to environmental protection. It also invites the participation of non-governmental organizations (NGOs) in discussing environmental matters of global importance.

LJUBLJANA, Aug. 26 (Xinhua) -- Chinese Vice Premier Hui Liangyu arrived in Slovenia on Wednesday evening on a two-day official visit to boost economic cooperation between the two countries. Hui, who was accompanied by a strong business delegation, will on Thursday hold talks with Slovenian Prime Minister Borut Pahor, President Danilo Tuerk, Parliament Speaker Pavel Gantar and Foreign Minister Samuel Zbogar. These talks are expected to focus on the boosting of economic cooperation as well as the world economic crisis. Officials from both countries will sign five documents expectedto strengthen the cooperation in areas of agriculture, small and medium enterprises (SMEs), health care and education. On Thursday afternoon Hui and Pahor will attend and address a plenary session of the Chinese-Slovenian business forum. According to the Slovenian Chamber of Commerce and Industry, the business forum will be attended by representatives of 60 Chinese companies from the fields of construction, engineering, telecommunications, electronics, trade, as well as textile, chemical, food and banking industries. Slovenia is the first leg of Hui's three-nation visit, which will also take him to Lithuania and Latvia. Hui will also attend the third World Climate Conference, which is scheduled to be held in Geneva, Switzerland from Aug. 31 to Sept. 4.
BEIJING, Aug. 29 (Xinhua) -- China's limits on the use of plastic bags cut crude oil consumption by 3 million tonnes per year, according to the National Development and Reform Commission (NDRC). Since June 1, 2008, all Chinese retailers, including supermarkets, department stores and groceries, no longer provided free plastic shopping bags. In addition, China banned ultra-thin plastic bags, or those thinner than 0.025 mm. China is trying to cut the use of plastic bags in a bid to reduce energy consumption and polluting emissions. The plastic bag limits could save about 2.4 million to 3.0 million tonnes of crude oil every year and cut 7.6 million to 9.6 million tonnes of carbon dioxide emissions every year, the NDRC said. The NDRC said it would further implement the regulations and inspect execution of the ban nationwide. Retailers who did not list shopping bags on the receipts or continued to provide free plastic shopping bags would be fined from 5,000 yuan (732.06 U.S. dollars) to 10,000 yuan, according to the State Administration for Industry and Commerce.
BEIJING, Oct. 9 (Xinhua) -- China's retail sales of consumer goods totaled 570 billion yuan (about 83.5 billion U.S. dollars) during the National Day holiday, with average daily sales up 18 percent compared with the same period of last year, the Ministry of Commerce said Friday. Sales of household appliances soared during the eight-day holiday which started from Oct. 1. Among them, high-definition flat screen TV sets, digital cameras, side-by-side refrigerators and 3G mobile phones are consumers' favorites. In the case of Kaiyuan Mall in Xi'an, capital of Northwest China's Shaanxi Province, sales of household appliances gained by 34.7 percent year on year. Customers are seen at a shopping mall in Shanghai, east China, Oct. 8, 2009 Jewelry and cars became hot sellers as well. The sales of jewelry of Caishikou Department Store in Beijing topped 100 million yuan, up 30 percent year on year. Car sales of major car-selling companies in Southwest China's Chongqing Municipality increased by 71.7 percent year on year. The selling boom in the home appliance and car sectors was partly stimulated by a policy approved by the State Council in June this year, aiming to spur domestic consumption by subsidizing buyers of cars and household appliances, according to the ministry. For example, consumers can first sell their old household appliances to recycling companies and obtain a certification card from the recyclers. Card holders then can purchase new appliances with a 10 percent cut in prices when showing retailers the card. Meanwhile, sales promotion in major cities also played an important role in the holiday consumption boom.
来源:资阳报