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HEFEI, Sept. 4 (Xinhua) -- China's top 500 enterprises reported smaller revenue gaps with their U.S. counterparts, while outperforming their worldwide competitors in profitability amid the nation's rapid economic recovery, an industrial ranking report showed Saturday.China's top 500 enterprises chalked up 4.05 trillion U.S. dollars in operating revenues last year, equivalent to about 18 percent of the operating revenue total created by the world's top 500 companies in the same year, and the ratio was 2.62 percentage points lower than the figure recorded for the year earlier, according to a report released Saturday in Hefei, capital of east China's Anhui Province, by the China Enterprise Confederation (CEC) and China Enterprise Directors Association.The average profit margin of China's top 500 enterprises was 5.44 percent in 2009, compared with 4.16 percent for the world's top 500 companies.Further, the net profits of the Chinese heavyweights grew by more than 20 percent last year, faster than the 17 percent for the world's top 500. It was the second consecutive year that Chinese enterprises outshone theirforeign counterparts in annual profits.Miao Rong, researcher with CEC, said despite the progress, China's top 500 enterprises obviously suffered from the impact of the global financial crisis as they reported slower growth in new employment and business revenues.However, unlike the world's top 500 companies, most of which are service and high tech giants, a lion's share of China's top 500 businesses are traditional industrial enterprises in the fields of energy development, telecommunications and power generation, Miao noted."It is a tough job, in the short-term, to make Chinese corporations catch up with their foreign counterparts in terms of 'soft power' , such as the capability of resource integration, management expertise, brand building and intellectual property protection," he added.Sinopec, Asia's leading refinery, topped the top 500 revenue list for the fifth consecutive year with 1.39 trillion yuan (about 204.41 billion U.S. dollars) in 2009. It was followed by the State Grid and PetroChina.Also, private businesses were growing rapidly as five companies reported operating revenues exceeding 100 billion yuan. Huawei Technology Co Ltd, a telecommunication equipment producer, recently leaped into the world's top 500 enterprises club.

TIANJIN, Sept. 14 (Xinhua) -- China could meet the full-year inflation target of 3 percent if macro-control policies were effective, a senior economic planner said Tuesday at the World Economic Forum's annual Summer Davos meeting."China has paid high attention to managing inflation expectations by stepping up macro-controls this year," said Zhang Xiaoqiang, deputy director of the National Development and Reform Commission."If managed well, the full-year target of consumer price index of around 3 percent is still attainable," he said.The CPI climbed to a 22-month-high of 3.5 percent in August because of rises in food and fuel prices and a low comparison base.Food prices are likely to remain within reasonable range after macro-control and there is still room for industrial products to fall due to heated competition, Zhang said.The chance is also small for import prices of commodities to experience a dramatic rise again in the rest of the year after earlier retreating, he said.

BEIJING, Oct. 20 (Xinhua) -- Chinese Premier Wen Jiabao Wednesday said the country's 12th five-year development plan, starting in 2011, should reflect the consensus of the entire society and motivate people from all walks of life.He also encouraged national political advisors to actively offer suggestions for the plan.Wen made the remarks in Beijing at a meeting of the Standing Committee of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top advisory body.The national political advisors convened their meeting two days after the Communist Party of China (CPC) Central Committee ended a four-day plenary session that set the outline of the 12th five-year plan, with key objectives in economic restructuring and improving living standards nationwide among others.In Wednesday's meeting, Wen said the State Council, or the Cabinet, would draw up the plan as outlined by the CPC Central Committee.He also said the theme of the 12th five-year plan was "scientific development" and would require China to accelerate the transformation of its economic growth mode, which he called "a strategic task of great urgency."The meeting was presided over by Jia Qinglin, chairman of the CPPCC National Committee.

XIAMEN, Sept. 7 (Xinhua) -- China's foreign trade surplus was approximately 84 billion U.S. dollars from Jan. to July, down 20 percent year on year, and the year 2010 is expected to see a small trade surplus, said Commerce Minister Chen Deming on Tuesday.Chen made the projection at the ongoing World Investment Forum that runs from Sept. 7 to 9 in southeast China's coastal city of Xiamen.China has seen a trade surplus in recent years, but with a decreasing margin, and the trade surplus takes up a very small proportion of the GDP, noted Chen."China's foreign trade policy aims to stabilize exports and increase imports, which can boost China's economy and also bring positive impacts to neighboring countries," said Chen.Customs statistics show that China's import and export value in the first seven months reached 1,617 billion U.S. dollars, with exports worth 850.5 billion U.S. dollars, up 35.6 percent, and imports at 766.6 billion U.S. dollars, up by 47.2 percent.China's trade surplus in 2009 was more than 190 billion U.S. dollars, down 34.4 percent from the 290 billion U.S. dollars in 2008.The World Investment Forum is the global meeting on investment and development issues organized by the United Nations Conference on Trade and Development. Held every two years, the forum aims to strengthen international cooperation in the interest of promoting international investment and its contribution to economic growth and development.

BEIJING, Sept. 30 (Xinhua) -- China and the European Union (EU) are forging a reliable partnership as one's stability, growth and prosperity are in the interests of the other, said an EU envoy on Thursday.Serge Abou, EU Ambassador to China, made the remarks before Chinese Premier Wen Jiabao attends the eighth Asia-Europe Meeting (ASEM8) and the 13th China-EU summit from Oct. 4 to 6. The ASEM summit, under the theme "Quality of Life: Achieving Greater Well-being and More Dignity for all Citizens," will focus on global finance and economic governance, sustainable development, and social and cultural exchange between Asia and Europe.China, as the second largest economy in the world, plays an important role in the meetings, Abou said, adding that the growth of Chinese economy contributed much to the world, especially amid the financial crisis.Abou described the relationship between China and the EU as "maturing partnership," with trade as "the first taproot" of the ties.The 27-member EU is China's biggest trade partner while China is the EU's second-largest trade partner and most important source of imports. This year, China-EU trade has witnessed remarkable growth and bilateral trade volume exceeded 300 billion U.S. dollars for the first eight months, up 36.2 percent compared with the same period last year.However, Abou was not satisfied with the figures. Trade and investment are not big enough considering China's 1.3-billion population, said the ambassador. He looks forward to more cooperation between the two countries in agriculture among other sectors."We welcome Chinese rise and Chinese prosperity," said Abou, adding that the EU would like to be more "engaged" in China's growth.Besides, China and the EU are also cooperating in energy, climate change and higher education, said the envoy.There are 200,000 Chinese students in Europe and tourists to European countries are also increasing, he added."The Chinese language is the second foreign language studied in my country France in secondary schools, just after English," said the EU official, adding that, by contrast, it was very "exotic" to learn Chinese when he was young."That means we have a solid basis to deepen our relationship," he added.