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The Bank of Communications (BoCom), China's fifth largest lender, said its net profit reached20.3 billion yuan (2.86 billion U.S. dollars) in 2007, up 65 percent from 2006.     By the end of 2007, total assets of BoCom stood at 2.1 trillion yuan, up 22.7 percent from a year earlier, according to its 2007 annual report released on Wednesday.     Net interest rate income rose 36 percent to 54.1 billion yuan and fee income from credit card sales and asset management products surged 137 percent to 7.1 billion yuan.     The Shanghai-based bank and HSBC Holdings Plc., which holds a roughly 19 percent stake in BoCom, are preparing to establish a credit card company and a pension fund company, according to the report.     BoCom, which listed on the Hong Kong stock market in 2005, returned to the mainland's A share market in April last year. Its shares rose 2.77 percent to 10.39 yuan in Shanghai on Wednesday.

BEIJING -- China and Japan will start the seventh round of talks on the East China Sea issues in Tokyo, Japan on Thursday, Foreign Ministry spokesman Qin Gang Tuesday told a regular press conference. Director of Chinese Foreign Ministry Department of Asian Affairs Hu Zhengyue and head of the Japanese Foreign Ministry's Asian and Oceanian Affairs Bureau Kenichiro Sasae will attend the talks as top negotiators, according to Qin. China and Japan were divided by the issue of the demarcation of the continental shelf of the East China Sea. Qin said China insisted on shelving the disputes and engaging in joint development, and hoped that related issue would be properly solved through negotiation. "We expect to make in-depth and full discussion with Japan during the upcoming seventh round of talks," the spokesman noted.

Blogging, a form of citizen journalism, has caught on so much in China that even some government officials are getting into it.The highest-ranking official or former official to write a blog is Zhao Qizheng, former director of the State Council Information Office, now president of the Journalism School of Renmin University in Beijing.He launched the blog "Zhao Qizheng and his books" (http://blog.sina.com.cn/zhaoqizheng) on August 3 and uploaded several chapters of his latest work In the One World - 101 Tips on How to Communicate with Foreigners. One of them, about the importance of smiling, has been read by nearly 40,000 netizens since it was posted a week ago.In a letter of August 14, Zhao thanked netizens for reading and commenting on his blog and apologized that he could not respond to each comment or question because he could only surf the Internet for limited time every day, and that he was a slow typist.Some netizens have used his blog to speak directly with the former top news official.One of them, called "Peach", a journalism student complained of a perceived lack of jobs in the industry and asked for his advice.The direct interaction between bloggers is one of the most appealing elements about this form of communication.Arguably the most popular blog run by an official is that of Liao Xinbo, deputy director of the provincial health bureau of South China's Guangdong Province.Liao calls himself "Doctor Brother Bozi" and his blog (http://blog.sina.com.cn/liaoxinbo) has been read more than 650,000 times since it was launched last April. At present it ranks the sixth most popular blog in Guangdong.The health official is known for being outspoken. On Monday, he posted an article by an anonymous doctor which blamed China's apparent failure on medical reform over the last 30 years on the lack of fair pay for doctors."If the situation continues, the next medical reform is doomed to fail again," the post warned.Liao also argued in his blog that health services were not a commodity that should be "bought" by patients, a key point that health providers need to serve the public, instead of trying to rake in money.Netizens who agreed with Liao proposed the official lobby his allies at the provincial people's congress - the legislative body - to draft a law especially for medical contracts.Netizens even went as far as drafting their own medical contract law, which Liao posted on August 24 commenting: "I have never studied laws and cannot give any comments. I wish my friends who are interested to give their ideas".Dozens of lawyers responded.According to one of them, legal tangles in the medical sector were difficult to settle because there were already too many laws, but not one powerful or specific enough to tackle problems with malpractice disputes.The netizen proposed that it was with some urgency that a law was drafted that covered the entire sector, instead of one that specifically dealt with contracts.Whether or not the fact the netizens' law proposals were right or wrong, their interaction with this sort of blogging demonstrates how ordinary people can debate the merits of such proposals.Liao's blog, with its inspiring discussions, provides a prime example of a form of "direct democracy".There are no figures available as to how many officials have blogs in China.However, in Suqian, a mid-sized city in East China's Jiangsu Province, 81 middle and high-ranking officials in the municipal government have opened blogs on the government website (http://blog.suqian.gov.cn/).Their Communist Party secretary, Zhang Xinshi, took the lead."Zhang hopes that those who are in charge at the different government organs can also have blogs so that they can express their ideas, attract people's discussions and build an efficient channel of communication between officials and ordinary citizens," said a Suqian Daily report about a working conference this April.Zhang has updated his blog almost every day and written long articles on weekends about a wide range of topics from global climate change to professional education.An article on "civilized behavior" prompted the local Suqian Daily to open a column about the topic, and more than 100,000 pupils and high school students distributed pamphlets on civilized behavior in the streets of his city.Almost each of Zhang's online articles was read more than 400 times, but there have been few posted responses from the public.When a comment was made, it often turned out to be a pledge of a subordinate to implement the Party secretary's ideas, not public feedback.A report in the People's Daily last month said officials in Suqian had published more than 1,700 articles on their blogs and these articles were read by more than 760,000 netizens."It is a good thing that officials opened blogs and strengthen their communication with the ordinary citizens," Xie Chuntao, professor at the Party School of the Central Committee of the Communist Party of China in Beijing, said.As part of China's e-governance construction, 12,000 government websites have been built in the past decade, according a report by Xinhua News Agency last December.More than 96 percent of the central government organs, 90 percent of provincial governments, 96 percent of municipal governments and 77 percent of county governments have their own websites."By further exploring the communication possibilities of blogs, officials may better win the citizens' trust if there is successful communication between the two sides," said Mao Shoulong, political science professor at Renmin University of China in a commentary in the People's Daily last year.But he also feared that some officials may have their opinion influenced by the "small club in cyberspace"."Actually, if we want the government to get nearer to the ordinary citizens, we can make more efforts on improving our democratic system instead of using the highly personalized blogs," he said."At the current stage, we can improve the government websites that widely exist, and make them work better in publicizing policies and communicating with netizens. This is a more constructive choice."

JINAN - Seven fishermen on two boats were rescued on Saturday off east China after their boats lost control in high gales, local rescue sources said. The engine of a fishing boat with six people aboard at the Bajiao offshore area near Yantai city, Shandong Province stopped working around 1:20 p.m. Saturday as its screw propeller was enlaced by aquatic plants amid sudden gales on the sea. A helicopter from the Beihai No. 1 Rescue Flying Squad was dispatched to the site and rescued the six in 20 minutes. The helicopter saved another fisherman on a separate boat on its way back. All the rescued fishermen were sent to Penglai, an island city near Yantai, Saturday afternoon.

The country's roaring stock market and soaring property prices have generated wealth for so many that the mainland now has more billionaires than any place other than the United States, according to a list released Wednesday.The list has 106 US dollar billionaires, compared with 15 last year and none in 2002, according to the popular annual The Hurun Rich List - compiled by Shanghai-based independent analyst Rupert Hoogeperf.Out of the top 10, nine own listed companies - six are real estate developers and two also derive a large percentage of their wealth from real estate, indicating that the country's economic growth is largely driven by construction and manufacturing.The total wealth of the 800 richest Chinese reached 9.3 billion, or 16 percent of the country's GDP last year. Their average wealth more than doubled in the past year to 2 million."China's richest have reaped windfalls from a sharp hike in property prices and the burgeoning stock markets," said Hoogeperf.But Beijing-based investment banker Andrew Zhang said: "The list shows up bubbles in the economy. The rich have accumulated their wealth with little technology, branding or international networks."Yang Huiyan - the 26-year-old woman who was No 1 on Forbes wealth list released this week - remains top on the Hurun list with a personal fortune reaching .5 billion, transferred from her property developer father.Her fortune comes from a 59.5 percent stake in Country Garden Holdings, a South China real estate developer founded by her father. The company's initial public offering in Hong Kong in April raised the equivalent of .9 billion and its shares closed Wednesday at HK.12 - more than double the IPO price.She is followed by 50-year-old Zhang Yin, last year's topper, who saw the value of her shares in Nine Dragon Paper triple to billion following a surge in the Hong Kong stock market.Xu Rongmao, 57, owner of Shimao Property Holdings Ltd comes in at No 3. He has seen his wealth grow to .5 billion, up .5 billion from last year.Huang Guangyu, 38, who founded Gome Electrical Appliances Holdings and owns unlisted property businesses, is fourth with billion.Guo Guangchang, whose Fosun Group has investments in property, retail, steel, pharmaceuticals and mining, rejoins the top 10 for the first time in four years after raising .5 billion from a Hong Kong listing in June.Surging share prices created much of the wealth of those on Hoogewerf's list.Nine made it due to shareholdings in Minsheng Banking Corp - the most prominent creator of super-rich of any Chinese company.Ping An Insurance (Group) Co, China's second-largest life insurer, and Western Mining Co, a zinc and lead miner, were each responsible for the wealth of seven on the list.