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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.

HANOI, Oct. 29 (Xinhua) -- Chinese Assistant Foreign Minister Hu Zhengyue accused Japanese representatives here Friday of violating China's sovereignty and territorial integrity through statements to the media during the summit meetings between the Association of Southeast Asian Nations (ASEAN) and its partners.The Japanese side also made untrue statements about the content of a meeting between Chinese and Japanese foreign ministers held earlier in the day, he said.Hu said the Japanese move ruined the atmosphere for leaders from the two sides to conduct talks in the Vietnamese capital.The Japanese side should take full responsibility for any consequence to arise, the Chinese diplomat said.It was known to all that China had always tried to preserve and push forward bilateral relations between China and Japan on the basis of the principles set out in the four political documents signed by the two countries, Hu said.However, the truth was that the diplomatic authority of Japan, in cahoots with other nations, tried to create noises on the issue of the Diaoyu Islands in the East China Sea in the lead-up to the summits between ASEAN and its partners. On top of that, during the summits, the Japanese side frequently made use of media outlets to make statements and comments that violated the sovereignty and territorial integrity of China, Hu said.When meeting with his Japanese counterpart, Seiji Maehara, Chinese Foreign Minister Yang Jiechi set forth China's principled position on the issue concerning the Diaoyu Islands, stressing that the Diaoyu Islands had been an integral part of Chinese territory since ancient times, Hu said.The Japanese side was making untrue statements about the content of the meeting and distorted China's stance in implementing the principled consensus between the two countries on the East China Sea issue, Hu said.

HANGZHOU, Oct. 8 (Xinhua) -- A senior Chinese official has urged members of the Communist Party of China (CPC) working in the country's non-public economic sector to work hard to make their companies into advanced and excellent businesses.The call was made by Li Yuanchao, chief of the Organization Department of the CPC Central Committee, during a two-day study tour to Zhejiang Province, one of the regions where the non-public economic sector has been highly developed, on east China coast.The tour ended Friday.During his stay in Zhejiang, Li visited a number of non-public businesses in two cities of Huzhou and Hangzhou in order to gain a first-hand information regarding how CPC members in those ventures have been doing under a Party campaign which encourages CPC members to excel at their workposts.While addressing a symposium held Friday in Hangzhou, the provincial capity, Li said the non-public sector was "an important force for developing the socialist economy with Chinese characteristics."Li added that Party organizations and its members at non-public enterprises should try to ensure that their firms take a correct orientation of development.

BEIJING, Nov. 5 (Xinhua) -- Chinese Vice Premier Wang Qishan on Friday called on China and the United States to strengthen economic cooperation and avoid politicizing economic issues. Wang made the remarks while meeting with Wendell P. Weeks, chairman and chief executive officer of Corning Incorporated, a large manufacturer of specialty glass and ceramics.Wang welcomed Corning's continued investment expansion in China, saying the economies of China and the U.S. were interdependent and highly complementary. Chinese Vice Premier Wang Qishan (R) meets with Wendell P. Weeks, chairman and CEO of Corning Incorporated, in Beijing, capital of China, Nov. 5, 2010.He called on the two sides to step up economic cooperation and make joint efforts to build a positive, cooperative and comprehensive Sino-U.S. relationship for the 21st century.Weeks expressed Corning's willingness to further cooperation with China.Later Friday, Wang also met with Josef Ackermann, chairman of the Management Board and the Group Executive Committee of the Deutsche Bank.During their meeting, the two sides exchanged views on the current international economic and financial situation as well as the reform of international financial supervision and regulation.

BEIJING, Oct. 27 (Xinhua) -- A signed article published in Wednesday's People's Daily said China's political reform must be conducted in a step-by-step manner under a socialist system and the leadership of the Communist Party of China (CPC).The article, written by Zheng Qingyuan, said China's political reform should be conducted in accordance with the development of the country's economic, historical and cultural background.The article was carried by the CPC Central Committee's official newspaper after the Party concluded a key policy-setting meeting that stressed the need for political reform."Great impetus will be given to economic restructuring, while vigorous yet steady efforts should be made to promote political restructuring," the communique, issued by the fifth plenary session of the 17th CPC Central Committee, said.The article starts with noting that the kind of political system a country chooses "depends on the will of the overwhelming majority of the country's people and its particular national condition, as well as its historical and cultural background."It cited late leader Deng Xiaoping's remarks about the three key indicators to assess a country's political system: whether its political situation is stable; whether the system can enhance unity among its citizens and improve their lives; and whether the country's productivity can be sustainably developed.The article said that since 1979, the CPC has announced a comprehensive reform policy which included consistent political reform over the past three decades, and added that China had achieved some experience in political reform now.It also stressed that China's political reform should not blindly adopt western-style practices such as having multiple parties which hold office in rotation and separating administrative, legislative and judicial powers.