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BEIJING, Aug. 17 (Xinhua) -- China's top legislator Wu Bangguo met here Monday with Speaker Luka Bebic of the Croatian Assembly, vowing to facilitate closer parliamentary exchanges and cooperation between both countries.     "China highly values its relations with Crotia, and regards the country as a reliable good friend and partner in southeast Europe," Wu told Bebic in Beijing. He vowed joint efforts with the country to cement bilateral exchanges in all fields to build better future for both sides. Wu, chairman of the Standing Committee of the National People's Congress (NPC), hailed the progress of bilateral ties since the forging of diplomatic ties 17 years ago, citing frequent high-level visits, remarkable trade cooperation and increasing exchanges in cultural, technological and educational areas. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Croatian Parliament Speaker Luka Bebic in Beijing, capital of China, Aug. 17, 2009.    "The parliamentary cooperation between both sides had contributed to the development of an all-round cooperative partnership," Wu said, adding the Chinese NPC is ready to deepen exchanges between special committees and working groups of the two parliaments.     In response, Bebic told Wu the Croatian Assembly would like to cooperate closely with the Chinese NPC for greater progress of bilateral all-round cooperative partnership. He expected closer cooperation with China in the areas of trade, tourism and infrastructure construction.     Calling China a great friend of Croatia, Bebic said his country believed China had made great contribution to world peace and development by dealing with the global economic downturn in an active way, and maintaining relatively fast economic growth.     At Wu's invitation, Bebic arrived in Beijing on Sunday for a week-long tour to China.

BEIJING, June 29 -- Chinese listed banks, which have lent record high amounts in the first half, are likely to report lower profit growth in the period due to narrowing interest spreads and higher provisioning requirements, industry analysts said.     "We are expecting a 7 to 8 percent year-on-year profit fall among the 14 listed banks in the first half-year," said Wang Liwen, banking analyst with Shanghai-based Guotai Junan Securities Co, citing stretched interest spreads as the major reason.     In 2008, the net interest rate spread for banks ranged from 2.45 percentage points to 3.62 percentage points, with the average figure hovering around 3 percentage points. This year, as the government cut interest rates several times to spur economic growth amid the global financial crisis, the net interest rate spread is expected to be lower, at around 2.36 percentage points. Clients walk into the Suzhou branch of Bank of Ningbo in Suzhou, east China's Jiangsu Province, March 27, 2009.The bank, the first listed lender to file a mid-term report, said its first-half profits would drop nearly 5 percent from a year earlier    "A drop of 0.7 percentage points in the average net interest rate spread could mean some 7-billion-yuan decrease in the interest yield for each trillion yuan of new loans," said Wang.     Chinese banks extended a record 7.37 trillion yuan of new loans in the first half, triple the amount offered in the same period a year earlier and 47 percent more than the government's full-year target, after lending restrictions were eased in November to stem an economic slowdown.     However, most securities firms' reports said the country's 14 listed banks might post an average profit decrease ranging from 6 percent to 10 percent year-on-year in the first six months.     According to Wind Info, a financial data provider, the 14 listed banks reported a net profit of 232.7 billion yuan in the first half of 2008, an increase of 73 percent year-on-year. But this year, the net profit could probably stand at 210 billion yuan, down 10 percent on a yearly basis.     Bank of Ningbo, for instance, on July 14 announced no more than a 5-percent decease in net profit in its pre-released semi-annual report to the Shenzhen bourse. It is the first Chinese listed bank to report a profit fall in the first half.     Wang Yifeng, an analyst at TX Investment Consulting, said the improved provision coverage ratio requirement might also cripple profits at listed banks.     To prevent potential risks arising from the lending spree, China Banking Regulatory Commission raised the minimum provision coverage ratio requirement to 150 percent from 130 percent earlier this year.     "The increase will mainly eat into the profits of several large State-controlled banks as they are still not up to the new requirements," said Wang.     But as the squeezed spreads bottom out in the second half, most analysts said listed banks would still post positive growth for the whole year.     "Thanks to the widened interest rate spreads and lower loan cost in the following months, we are expecting a 10-percent growth in profits overall this year," said Liu Yinghua, an analyst with Shenzhen-based Ping An Securities.

SINGAPORE, Aug. 24 (Xinhua) -- The 6th China-Singapore Joint Council Meeting for Bilateral Cooperation, co-chaired by visiting Chinese Vice Premier Wang Qishan and Singapore's Deputy Prime Minister Wong Kan Seng, was held here on Monday.     During the meeting, Wang Qishan spoke highly of the China-Singapore relations. He said that both countries have maintained frequent interflow of high-level visits, cooperations between the two countries have advanced in all-round way with good results. Against the backdrop of the international financial crisis, it is of great significance that China and Singapore actively explore new ways and areas of cooperation. Chinese Vice Premier Wang Qishan (L) meets with Singapore's Prime Minister Lee Hsien Loong in Singapore, on Aug. 24, 2009. At the invitation of Singapore's Deputy Prime Minister Wong Kan Seng, Wang Qishan arrived here on Sunday to start a four-day official visit to the city state    Singapore's Deputy Prime Minister Wong Kan Seng said that the bilateral ties have developed rapidly based on mutual trust, friendship and cooperation. He said that Singapore is confident in the future of China, and is willing to work more closely together to enhance bilateral relations. Chinese Vice Premier Wang Qishan (2nd R) meets with Singapore's Prime Minister Lee Hsien Loong (4th L) in Singapore, on Aug. 24, 2009Earlier Monday, Wang Qishan and Wong Kan Seng also co-chaired the 11th China-Singapore Joint Steering Council Meeting for the Suzhou Industrial Park and the 2nd China-Singapore Joint Steering Council Meeting for the Tianjin Eco-City. They also witnessed the signing of Memorandums of Understanding (MOUs) related to educational cooperation and science and technology, and a Protocol to the tax treaty between the two countries.     At the invitation of Singapore's Deputy Prime Minister Wong Kan Seng, Chinese Vice Premier Wang Qishan arrived here on Sunday to start a four-day official visit to the city state.

BEIJING, Aug. 5 (Xinhua) -- Tropical storm Goni has brought huge rainfall to south China after it landed early Wednesday morning in Taishan of south China's Guangdong Province.     Downpours drenched most parts of Guangdong and neighboring Fujian province, with a hydrological station in Guangdong reporting precipitation of about 400 mm.     The weakening Goni is moving westward slowing and is expected to bring downpours to west Guangdong from Thursday to Friday.     Maritime affairs department in the southern island province of Hainan said Tuesday that it had issued an emergency warning to 20,000 fishing vessels in the South China Sea, calling them to harbor.     Another tropical storm, Morakot, has strengthened into typhoon and is expected to make a landfall from late Friday to Saturday in central and northern Fujian, weather forecasters said.     Local authorities have put in place emergency plans to evacuate residents amid other efforts to reduce losses from Morakot, the 8th typhoon this year.     Severe rainstorms also wreak havoc in other parts of the country Wednesday.     In Suichuan, eastern Jiangxi province, flash flood washed down five houses and killed at least three people.     Rain-related disasters also killed two in the southwestern Guizhou province and another two in neighboring Chongqing municipality.

YAN'AN, Shaanxi Province, Sept. 5 (Xinhua) -- Party cadres should always keep clean and stay away from corruption, a senior Communist Party of China (CPC) official said Saturday.     "Party cadres should withstand tests of the country's reform and opening-up and the Party's ruling status," said Li Yuanchao, head of the Organization Department of the CPC Central Committee.     Li, also a member of the CPC Central Committee Political Bureau, made the remarks as the Autumn term started Saturday in China Executive Leadership Academy Pudong (CELAP), China Executive Leadership Academy Jinggangshan (CELAJ) and China Executive Leadership Academy Yan'an (CELAY).     "As Party cadres are being surrounded with more and more temptations, the education on resistance against corruption must be a vital task as well as the core content of Party spirit training," Li said.     The three schools, approved by the CPC Central Committee, are national training bases in fields such as CPC history and Party building theory, for government officials, enterprise managers and army officials.     "Schools should make it an important mission during education and training to strengthen Party spirit, ideal faith and good style, so as to play a unique role in promoting Party cadres' uprightness," he said.

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