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BEIJING, Feb. 24 (Xinhua) -- China should further step up efforts to implement the plan to adjust and reinvigorate some of the country's key industries, according to an executive meeting of the State Council held on Wednesday.The meeting was chaired by Premier Wen Jiabao.Progress has been made in 2009 for adjusting and promoting key industries, however the situation remained grave as weak global demand was still affecting China's economy and more efforts were needed to curb overcapacity in some industries, according to a statement released after the meeting.To combat the global economic downturn, China in 2009 adopted a massive plan to adjust and reinvigorate the country's ten key industries covering cars, steel, information technology, logistics, textile, nonferrous metal, equipment manufacturing, petrochemicals, shipbuilding as well as light industry.The implementation of the plan was a long-term task which should focus on the structure adjustment and development mode transformation of the ten industries, said the statement.Vigorous efforts should be made to expand domestic demand, optimize industrial layout, curb overcapacity, eliminate retrograde productivity, push company merger and restructuring, promote technology innovation and deepen reform to facilitate development mode change, it said.

Beijing, Feb. 8 -- China's banks will outpace their peers in India and Indonesia, the best performers in Asia's banking industry over the past decade, to deliver the highest returns over the next five to 10 years, analysis firm CLSA Ltd said.The top eight performers among Asian banks over the past decade were all from India, with gains of 400 percent to 3,000 percent, CLSA said in a research report released today.Indonesian banks ranked second over a three-to-five-year period, as no data was available for 10 years, the report said.Shenzhen Development Bank Co, China's first commercial bank to launch an IPO and get listed on Shenzhen Stock Exchange (in 1987), is expected to show a more than eight-fold increase in net profit for 2009, boosted by lower provisions for bad loans and higher net interest and fee income, the Wall Street Journal saidThe two countries recorded the highest credit growth, as India's loans increased 622 percent over the past 10 years, followed by 508 percent growth in Indonesia, Daniel Tabbush and Suangsuda Sinsadok, analysts at CLSA, said in the report.That shows "positive" implications for China's banks given the nation's 326 percent increase in loan growth over that period, they wrote in their analysis."Where China stock price data is only recent, we can at least assume that the fact that those banks are returning the third-highest loan growth over the past five and 10 years can in fact mean strong total returns over the long term," the analysts wrote.China's loan growth of 79 percent was the highest over the past three years, according to the report by CLSA, which is "overweight" on the nation's bank stocks as well as those in India and Indonesia.

BEIJING, Jan. 13 (Xinhua) -- Chinese Vice President Xi Jinping Wednesday stressed the need for able Party officials at county and village levels for countryside development.     Xi, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when meeting with the relatives of Shen Hao, former secretary of a village committee of the CPC, whom Xi described as setting up an ideal example for village officials.     During his six years as the Secretary of the Xiaogang Village Committee of the CPC in east China's Anhui Province, Shen led impoverished villagers to build roads, improve housing facilities and help increase villagers' annual income from 2,300 yuan (337 U.S. dollars) to 6,600 yuan per capita.     On Nov. 6, 2009, he died of heart attack at the age of 45.     He was posthumously honored with the title of "national outstanding CPC member" and "the people's civil servant."     Xi said Shen had left a great legacy as a modern CPC village cadre with his "loyalty and love, innovation and hard work."     He urged Party officials at county and village levels to learn from Shen and contribute to the building of the socialist new countryside

BEIJING, March 16 (Xinhua)-- The China "Summer Davos" summit, due to be held in September in the north China city of Tianjin, will again focus on sustainability and the green economy, said Andre Schneider, managing director of the World Economic Forum (WEF), Tuesday.The detailed agenda would be designed to meet the changing new growth context with more discussion of new business models and technical innovations, Schneider said in a press briefing in Beijing.The "Summer Davos" 2010, or the fourth Annual Meeting of the New Champions, would be a continuation of the third-round meeting last year, which had focused on the way out of crisis, said Schneider.With the theme, "Driving Growth Through Sustainability," this year's summit, from Sept. 13 to 15, is expected to attract more than 1,500 participants, including business executives, politicians, economists and scientists from about 90 countries.On the global economy picture, Schneider said the deep financial and structural roots of the "Great Recession" made it difficult to predict the shape of future growth.Schneider said the future also remained unclear for advanced economies, which the Organization for Economic Cooperation and Development forecast, would see a possible 10-percent unemployment rate in the second half of this year.Though the emerging and developing economies accounted for almost 50 percent of global GDP, their growth was not decoupled from the rest of the world, said Schneider.

BEIJING, Jan. 21 (Xinhua) -- Beijing's per capita gross domestic product exceeded 10,000 U.S. dollars for the first time last year after a strong economic recovery, a local statistics official said Thursday.The GDP in the Chinese capital grew 10.1 percent to 1.187 trillion yuan (137.8 billion U.S. dollars) in 2009, according to the Beijing Bureau of Statistics.The per capita GDP was 68,788 yuan (10,070 U.S. dollars) as the city had 17.55 million permanent residents at the end of 2009."The breakthrough is a milestone for Beijing," said Yu Xiuqin, the bureau's deputy director. "According to the standards of the World Bank, Beijing has become a moderately well-off city."According to the World Bank, a country or region should be recognized as moderately well-off when its per capita GDP exceeds 10,000 U.S. dollars, the official explained.The service industry contributed to 75 percent of Beijing's GDP and its urbanization rate had reached 85 percent, she said."The Beijing government will take further measures to boost the living standards and social welfare of the rural population to bridge the gap between urban and rural areas," Yu said.