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BEIJING, Aug. 22 (Xinhua) -- Wuhan Iron and Steel Company Ltd., the listed subsidiary of China's third largest steel maker, said Sunday that its net profit rose 90.43 percent year on year to 963.53 million yuan (141.7 million U.S. dollars) during the first half of the year as strong economic growth boosted steel demand and prices.The company's first-half-year sales reached 34.36 billion yuan, up 50.72 percent from one year earlier, it said in a statement delivered to the Shanghai Stock Exchange.However, costs also climbed in the first six months compared with a year earlier because of increases in raw material prices, it said.Production costs for steel products gained 47.12 percent year on year to 31.18 billion yuan. Further, the company's steel output in the first half of the year gained 29.75 percent year on year to 8.04 million tonnes.China's producer price index, a major gauge of inflation at the wholesale level, rose 6 percent in the January-June period, according to statistics released by the National Bureau of Statistics.However, the company was likely to face a "difficult time" in the second half of 2010 and meeting its full-year profit target would become a "challenging task" as demand from auto, home appliance and real estate sectors experienced "drastic changes" since July, leading to more restrained sales and falling prices, it said.Company officials also worried that high prices of iron ore, coal and electricity would further push up production costs and squeeze profit margins.On Friday, the price of its shares fell 2.87 percent to 4.73 yuan on the Shanghai bourse.
vBEIJING, July 14 (Xinhua) -- China's top political advisor, Jia Qinglin, on Wednesday called for efforts to construct a better ecological and healthy living environment while pushing for rapid development in the country's western regions.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks when he visited an exhibition of the western region's environmental protection marking the 10th anniversary of China's strategy to develop its western regions. Jia Qinglin (C, front), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits the exhibition of the Inner Mongolia Autonomous Region during an achievements exhibition displaying China's western regions' environmental protection and construction accomplishments during the "West Development" campaign, in Beijing, capital of China, July 14, 2010.While accelerating development in the western regions, Jia said, it was crucial to pay special attention to the construction of the ecological and living environment."A new western region with green mountains and clean rivers will make a greater contribution to the nation's ecological security," Jia said.

BEIJING, July 9 (Xinhua) -- A reception was held here Friday to mark the 49th anniversary of the signing of the Treaty of Friendship, Cooperation and Mutual Assistance between China and the Democratic People's Republic of Korea (DPRK).Abdul'ahat Abdulrixit, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), and DPRK's ambassador to China Choe Pyong Gwan attended the reception hosted by the DPRK embassy in China.
BEIJING, July 24 (Xinhua) -- The gross domestic product (GDP) in China's western regions grew by 13.5 percent year on year in 2009, much higher than the country's revised national GDP growth of 9.1 percent, according to a report issued here on Saturday.It is the eighth year in a row for these regions to score a double-digit GDP growth after the Chinese government launched a "West Development" campaign ten years ago, read the report on the economic development of China's western regions issued by the Chinese Academy of Social Sciences.It attributed the GDP growth mainly to China's policies to stimulate domestic demand and the increase in investment, despite the global financial crisis.Five provinces, regions or municipalities saw an increase of more then ten percent in the disposable income of urban citizens in 2009, as the income gap between China's western and eastern regions had begun to narrow, the report said.The average yearly per capita disposable income of urban citizens in the western regions was 12,971 yuan (about 1,918 U.S. dollars) in 2008.Noting that economic development in the western regions still heavily relied on natural resources, the report said efforts should be made to increase the regions' capacity to ensure sustainable development, while establishing a low-carbon industrial system.
BEIJING, July 15 (Xinhua) -- German Chancellor Angela Merkel arrived here Thursday night, starting a four-day official visit to China.During Merkel's stay in Beijing, Chinese President Hu Jintao will meet with her. Chinese Premier Wen Jiabao will hold talks with her. And Chinese Vice President Xi Jinping will also meet with her.Besides Beijing, Merkel will pay a visit to Xi'an in northwest China's Shaanxi Province.In 2005, Merkel became the first female chancellor of Germany and was reappointed in 2009.Merkel has made four visits to China--as minister for environment, nature protection and reactor safety in August 1997; and as chancellor in May 2006, August 2007 and October 2008.
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