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BEIJING, July 31 (Xinhua) -- China's armed forces will continue to enhance its capabilities and military readiness to safeguard sovereignty, security and development of the nation, Defense Minister Liang Guanglie said Saturday.Liang made the remarks while addressing a reception held in Beijing to mark the 83rd anniversary of the founding of the People's Liberation Army (PLA) on Aug. 1."We will continue to strengthen the PLA's capability to accomplish diversified military tasks, particularly for winning regional wars under informationized circumstances, to firmly safeguard national sovereignty, security and development," he said.He said China's core security interest will always guide the development of the Chinese army.Representatives attend a reception hosted by the Ministry of National Defence of the People's Republic of China, to mark the 83rd anniversary of the founding of the People's Liberation Army, in Beijing, capital of China, July 31, 2010.He said the army should strengthen military training, adopt more high and new technology weapons and equipment, improve military logistics and increase combat capabilities by using information technology.The PLA will actively take part in and support economic development, keep sabotage of hostile and separatist forces at bay, and contribute to the development and stability of the country, he said.Liang, also a member of the Central Military Commission (CMC) and a state councilor, said the army will continue to devote itself to the country's complete reunification while promoting a peaceful development of relations between the Chinese mainland and Taiwan."We will continue to oppose separatist activities of 'Taiwan independence' forces, while firmly safeguarding national sovereignty, security and territorial integrity," Liang said."The PLA will enhance exchanges and cooperation with armed forces of all countries, in accordance with the principles of mutual respect, equal negotiation, and reciprocity," he said."The Chinese army will also actively fulfill international responsibilities and obligations, and will contribute to the world peace and development," Liang said.In August 1927, armed forces led by the Communist Party of China held an uprising against warlords. The first day of August was later designated as the PLA's founding day.
XINING, Aug. 16 (Xinhua) -- A senior anti-corruption official of the Communist Party of China (CPC) Monday urged strict supervision and inspection of relief and reconstruction work in Zhouqu County, which was devastated by a massive mudslide on Aug. 8.A supervision and inspection system must be established to ensure thorough implementation of the central authorities' instructions on disaster relief and reconstruction, said He Yong, deputy secretary of the CPC's Central Commission for Discipline Inspection.He made the remarks at a conference on supervision and inspection of relief funds and supplies.He instructed intensified supervision and inspection of medical, mud-clearing, infrastructure rebuilding, resident relocation and epidemic prevention operations.He also ordered stepped-up supervision of the use of disaster relief funds, supplies and donations, and asked local officials to make public how they were utilizing the funds in a timely manner.He said the principle of openness and transparency must be applied throughout the period of disaster relief work and reconstruction, and vowed to punish any misuse of relief funds and supplies.The mudslide has killed 1,254 while 490 people remain missing as of Monday.
HONG KONG, Aug. 22 (Xinhua) -- China Construction Bank (CCB), the country's second largest bank, said Sunday its net profit in the first half of this year jumped 27 percent to reach 70.78 billion yuan (10.4 billion U.S. dollars) from a year earlier and its non-performing loan (NPL) ratio dropped to 1.22 percent.In a filing to the Hong Kong stock exchange, CCB said its profit before tax amounted to 92.19 billion yuan, up 27.2 percent year on year.RAPID GROWTH IN H1Key contributors to the rapid year-on-year growth of net profit were increased credit supply, service and product innovation, and decreased impairment losses, according to the statement.Regarding credit supply, the bank said its average balance of interest-bearing assets rose by 18.26 percent in the first half, prompting net interest income to surge by 15.33 billion yuan, or 15 percent.On service and product innovation, CCB said net fee and commission income rose by 10.22 billion yuan, or 43.63 percent year on year, as a result of sustained rapid expansion of fee-based business.The Beijing-based lender also said its impairment losses fell by 2.995 billion yuan, or 23.36 percent, due to price rally in foreign currency debt securities with the improving market.CCB President Zhang Jianguo said in the statement that there were signs of recovery in developed economies and robust growth of emerging economies against the backdrop of a gradually warming-up global economy in the first half.China has sustained rapid economic growth, thanks to the government's ongoing stimulation of domestic demand, he said. Foreign trade has gradually improved, while investment and consumption spending have continued to expand at a fast pace, and China's overall financial market performed steadily in the first half.Amid the European sovereign debt crisis and the Chinese government's macro-control policies in the property sector, domestic capital and property markets have undergone noticeable adjustments and are experiencing increasing uncertainties about the future market direction, he said.According to the statement, CCB's net interest income was 117.8 billion yuan, an increase of 15.33 billion, or 14.96 percent year on year.But compared to the same period of 2009, CCB's net interest spread for the first half of this year had dropped by two basis points to 2.32 percent, largely because the yield of interest- bearing assets decreased more than the cost of interest-bearing liabilities, it said.In the first half, CCB's interest income surged by 11.22 billion yuan, or 6.66 percent year on year to 179.65 billion yuan. While the interest expense was 61.85 billion yuan, a year-on-year decrease of 4.12 billion yuan, or 6.24 percent.The bank said its credit asset quality had steadily improved, with non-performing loans standing at 65.17 billion yuan by the end of June this year, a decrease of nearly 7 billion yuan over the end of 2009.
XIAMEN, June 20 (Xinhua) -- Top political advisor Jia Qinglin has urged China's southeastern Fujian Province, which faces Taiwan, to contribute more in promoting the peaceful development of cross-Strait relations."The relations between the mainland and Taiwan are currently at a crucial stage with many opportunities. Fujian should make full use of its advantages and work hard to boost cross-Strait exchanges and cooperation in terms of scope and scale," he said during a two-day inspection that ended Sunday in the region's city of Xiamen.Jia called on the province to implement more favorable policies to attract investment from Taiwan companies and strengthen economic ties between Fujian and the island.Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference, talks with workers of a Taiwan-invested enterprise in Xiamen, southeast China's Fujian Province, June 20, 2010.During a visit to the Xiamen branch of a Taiwan technology company, Jia stressed that Taiwan companies on the mainland should respect and care for their workers.p "Workers' living and working conditions should be improved and their legal rights should be ensured," he said, adding that Taiwan companies should have confidence in investing in the mainland in order to achieve fast and sound development.In addition, as Fujian entered the flood season in late April, Jia urged the province to provide the highest priority to local people's safety and strive to reduce damages from disasters.As of Sunday morning, mud flows and floods triggered by intense rainstorms that began in mid-June have left 132 people dead and 86 missing in south China's nine provinces and regions including Fujian, according to the Office of State Flood Control and Drought Relief Headquarters.
BEIJING, June 21 (Xinhua) -- China's National Development and Reform Commission (NDRC), the country's top economic planner, refuted on Monday recent reports online saying China is mulling adjustments of electricity prices, claiming such reports "untrue" .The NDRC said in a statement on its website that recently there were reports online saying the NDRC was studying plans to adjust electricity prices, citing Li Jing, deputy head of the Department of Resource Conservation and Environmental Protection at NDRC. Reports said she has not given the timetable for the plan.The statement further said she never made such remarks to media and the reports were groundless.The NDRC began a rise in the price of electricity for non-residential use by 2.8 fen (0.4 cents) per kwh on average nationwide on November 20 last year, with residential electricity prices unchanged.