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BEIJING, Oct. 19 (Xinhua) -- China's premium revenue is expected to hit one trillion yuan (146.3 billion U.S. dollars) this year due to strengthened promotion and increasing demand, said a senior official here on Sunday.     The premium revenue grew at an annual rate of 30 percent from 460 million yuan in 1980, when insurance business began to enter into full swing in China, to hit 703.58 billion yuan in 2007, said vice chairman of the China Insurance Regulatory Commission (CIRC) Zhou Yanli at the opening ceremony of an insurance exhibition.     The revenue in the first eight months this year rose 52.24 percent year on year to 713.40 billion yuan which exceeded the total of last year, he said.     The revenue for the whole year is likely to break one trillion yuan at the current pace, he predicted.     The development of China's insurance business had been halted for 20 years after the founding of the new China in 1949. After the opening up and reform initiated in 1979, the sector was on the way to the right track and entered into full swing.     The value of the industry assets totaled more than three trillion yuan, which is owned by more than 110 insurers, according to Zhou.     Despite of the progress, insiders noted the revenue growth is poised to slow down in the fourth quarter of 2008 and the first half of 2009 as insurers are expected to retain dividends to protect its profit margin which was hurt by stock investment returns slumps. That is likely to discourage the future premium growth.     China Life, the nation's largest life insurer, saw premium jump52.9 percent from a year ago to 23.44 billion yuan in September, much slower than the 93.7 percent growth in August. The combined revenue in the first nine months totaled 248.6 billion yuan, up 56.7 percent year on year, comparing with the 57.14 percent growth in August.

LIBREVILLE, Nov. 7 (Xinhua) -- Visiting Chinese top legislator Wu Bangguo held talks here on Friday with President of Gabonese National Assembly Guy Nzouba Ndama, saying that the National People's Congress (NPC) of China is ready to step up cooperation with the parliament of Gabon to add new vigor into bilateral relations and jointly push forward friendly relations between the two countries.     Wu, chairman of the Standing Committee of the NPC, China's top legislature, called Gabon a true friend of China, saying that China is satisfied with the growth momentum of the bilateral relations and the two countries have seen healthy and stable development of friendly and cooperative relations since they established diplomatic ties 34 years ago.     Wu said that the two sides have achieved remarkable results in cooperation between governments, parliaments and various political parties in fields such as economy and trade, culture and education as well as public health. Speaker of Gabon's Senate Rene Radembino Coniquet (R) shakes hands with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress, the country's top legislature, during their meeting in Libreville, capital of Gabon, Nov. 7, 2008.    "We have established our close consultation and cooperation on international affairs, and more importantly, we have made breakthroughs on working together on some big-scale projects," Wu said.     "It's the treasure to both sides and China will make joint efforts with Gabon to step up cooperation in all dimensions," he added.     Wu said that the NPC represents the will of Chinese people and shoulders very important responsibility to promote the friendship between Chinese and Gabonese.     He called on the two countries' parliaments to boost their exchange and cooperation, especially between the parliamentary ad hoc committees and various friendship groups.     Echoing Wu's views on the bilateral relations and inter-parliamentary cooperation, Ndama said that the frequent mutual visits between the two countries' leaders have pushed forward the bilateral ties into a new stage of development, which he said already brought substantial benefits to the Gabonese people.     He suggested that the two nations should work closer to expand their cooperation on culture, education, aviation and tourism, reiterating that Gabon would continue to adhere to the one-China policy and support China's peaceful reunification.     Ndama also said that the relations between the two parliaments have showcased the Gabon-China friendly ties and the Gabonese National Assembly hoped to maintain the frequent exchanges to expand mutual understanding and consolidate substantial cooperation in various fields.     The Chinese top legislator also met with Rene Radembino Coniquet, speaker of the Gabonese Senate, on the same day. The two sides voiced commitment to boost the bilateral relations and enhance their cooperation to a higher level.     "The facts have already proved that the growth of the China-Gabon relations not only benefits the two countries and their people, but also helps to promote the peace and development of the world," Wu told Coniquet.     Wu arrived here on Thursday afternoon for a two-day official visit to Gabon. He will fly to Ethiopia on Saturday to continue his five-African nations tour, which also includes Algeria, Madagascar and Seychelles.

BEIJING, Nov. 20 (Xinhua) -- China has been studying a fuel tax reform to replace the current road tolls imposed upon vehicles, the National Development and Reform Commission (NDRC), the country's top economic planner, announced here on Thursday.     The announcement came after media reports said on Wednesday that the government was likely to impose the fuel tax as early as next month.     The NDRC together with the Ministry of Finance and the Ministry of Transport has jointly held discussions on related issues including abolishing road and waterway maintenance fees, lowering refined oil prices and improving the fuel pricing system.     The planner didn't specify when to launch the long-awaited reform.     The introduction of a fuel tax in China was first proposed in 1994 but has been delayed amid concerns that it would impose too great a burden on those who consumed more oil.     The government has instead collected road maintenance fees from automobile users regardless of how much gasoline or diesel oil they use.     Analysts said the on-going oil price drop presented a good opportunity for China to resume its fuel tax reform.     World crude oil prices fell to the current 53.62 U.S. dollars, down more than 60 percent from the peak price of 147 U.S. dollars in mid-July.

LONDON, Feb. 2 (Xinhua) -- Visiting Chinese Premier Wen Jiabao said here on Monday that China and European countries should strengthen cooperation to deal with global financial crisis.     Speaking at a joint news conference after talks with his British counterpart Gordon Brown, Wen said that during his week-long "trip of confidence" to five European countries, he met with European leaders for talks on issues of common concern, especially the global financial crisis, and achieved "fruitful" results. British Prime Minister Gordon Brown (L) and visiting Chinese Premier Wen Jiabao meet the press in London, Britain, Feb. 2, 2009. Europe and China agreed that dialog and cooperation had dominated their 30-year ties, and great achievements had been made, said Wen, adding that such relationship had brought benefits to both sides, and set an example of mutual benefits and win-win outcome.     Sino-European relationship enjoys a solid foundation and a bright future, Wen noted.     In the face of global challenges such as the financial crisis, China and Europe should make joint efforts to promote cooperation, and make their own contributions to the world's harmony and sustainable development, said the premier. British Prime Minister Gordon Brown (L) and visiting Chinese Premier Wen Jiabao meet the press in London, Britain, Feb. 2, 2009"This financial crisis is a global one. No single country can remain immune and address this in isolation. We are sitting in the same boat and we need to work together to overcome difficulties," said Wen.     The premier said that if China could maintain its economic growth, "it will be the biggest contribution to the whole world" in a time of global financial crisis.     China is willing to strengthen coordination and cooperation with the international community, to work together to achieve an early recovery for world economy, and to build a fair, just, comprehensive and orderly international financial system, said Wen.     Brown told reporters that Britain and China could work together and avoid a retreat to protectionism during the economic downturn.     "We know from previous dow

CHENGDU, Jan. 27 (Xinhua) -- More than one million migrant workers, who were forced to return home late last year amid the impact of the global financial crisis, have found new jobs in southwest China's Sichuan Province.     Out of the 1.49 million migrant workers who had returned home, 1.03 million have found new jobs through training and job fairs organized by the government, according to the provincial labor and social security department.     About 38 percent of them engage in farming and breeding, 43 percent work in the towns and the rest leave home again and find their new jobs in other provinces.     So far, Sichuan has provided 5,000 training classes to 250,000 migrant workers. It also organized 53 job fairs specifically for the migrant workers, helping some 100,000 find new jobs.     The province is expected to invest 80 million yuan (11.7 million yuan) this year on migrant workers training, up 77.8 percent year on year.