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BEIJING, Jan. 30 (Xinhua) -- China Unicom, the country's second largest telecom operator, said Saturday its net profit might have dropped by more than 50 percent in 2009, as the one-time gain from the sale of a mobile business laid a higher comparison basis for 2008.China Unicom, in October 2008, sold its Code Division Multiple Access (CDMA) business and related assets to China Telecom, the largest fixed line service provider of the country, which substantially increased the profits of the company in 2008.The company said in a statement filed to the Shanghai Stock Exchange that its profit was also affected by the high costs for its new Wideband-CDMA operations.

BEIJING, March 12 (Xinhua) -- China's central bank said Friday a stronger yuan offers no help for solving the Sino-U.S. trade imbalance problem, and China opposes politicizing yuan's appreciation.Su Ning, vice governor of the People's Bank of China, made the comments a day after U.S. President Barack Obama told the U.S. Export-Import Bank's annual conference that a more market-oriented exchange rate of yuan will make an essential contribution to global rebalancing efforts."We do not think a country should rely others to solve its own problems," Su, a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee, said on the sidelines of the top political advisory body's annual session.The U.S. Department of Commerce said on March 11 that the U.S. trade deficit with China increased to 18.3 billion U.S. dollars in January from 18.14 billion U.S. dollars in December. The increase renewed the U.S. call for a stronger yuan as it claimed the current exchange rate gives Chinese goods unfair price advantages.Su said although yuan has gained more than 20 percent since it depegged the U.S. dollars in June 2005, China's trade surplus tripled from 100 billion U.S. dollars in 2004 to nearly 300 billion U.S. dollars in 2008.In addition, he argued, a weaker U.S. dollar does not help cut the U.S. deficit. As the U.S. dollar depreciated by 3 percent annually in average between 2002 and 2008, its deficit soared from 500 billion U.S. dollars to 900 billion U.S. dollars, Su said.Tan Yaling, a financial researcher with Peking University, said as nations have different roles in international trade and differ in resources, what they produce, consume and want can be very different."It is unfair that the United States, on the one hand, consumes cheap Chinese goods, while on the other hand, it blames the low prices for causing their domestic job losses," she said.The Obama administration's continuous calls for a stronger yuan is actually aimed at diverting attentions from its domestic woes, experts said.To grapple with high unemployment rate and uncertain recovery prospects, Obama has to do something on job promotion to secure victory in the mid-term election in November this year, said Chen Zhiwu, a financial professor with Yale University.To curb soaring unemployment and boost growth, Obama has announced a special task force on a mission of doubling the U.S. exports in five years, as he said the U.S. can not "stand on the sidelines," as other countries are busy negotiating trade deals.Cheng Enfu, a deputy to the National People' s Congress (NPC), China' s top legislature, said the consistent pressure from the United States is simply because of its pursuit of national interests."Over-fast appreciation of yuan does no good to the global economic recovery which is still fragile and uncertain," he said.Zhu Yuchen, also an NPC deputy, said as China plays a leading role in global economic recovery, any drastic policy change will not only impair China's economy, but also the global recovery, which is not a responsible way.President Obama's remarks also came a month ahead of a semiannual Treasury Department report that could label China as a currency manipulator.Premier Wen Jiabao said in the government work report delivered to the NPC on March 5 that China will keep the yuan "basically stable" at an "appropriate and balanced" level.HEFTY SURPLUS, BUT SLIM PROFITSAlthough China has accumulated massive trade surplus over the past decades, that does not indicate the same profits, as more than half of China's exporters are foreign invested, lawmakers said.Figures released by the Ministry of Commerce showed 55.2 percent of China's foreign trade was completed by foreign-invested businesses last year. And 56 percent of the exports were done by foreign companies in China.Cheng Enfu said China only pockets paper-thin profits from the very end of the manufacturing chain, or processing and assembling work. However, the United States earn handsome profits from designing and distribution.According to a study by researchers of the University of California, of the 299 U.S. dollars retail value of a 30-gigabyte video iPod in the United States, 163 U.S. dollars is captured by American companies and workers, and 132 U.S. dollars go to parts makers in other Asian countries, while the final assembly, done in China, cost only about 4 U.S. dollars a unit."Even though Chinese workers contribute only about 1 percent of the value of the iPod, the export of a finished iPod to the United States directly contributes about 150 U.S. dollars to our bilateral trade deficit with the Chinese," Hal R. Varian, a professor of the University of California at Berkeley, wrote on the New York Times on June 28, 2007.Cheng Enfu noted it needs to upgrade exports product mix to fundamentally reverse China's disadvantages. That is, to export more profitable self-innovative products, rather than labor-intensive processing goods.

YAOUNDE, March 24 (Xinhua) -- China's top political advisor Jia Qinglin on Wednesday discussed with Cameroonian President Paul Biya the ways to lift the two country's bilateral relationship to a new height in Yaounde, capital of Cameroon."As developing countries, it is in the fundamental interests of China and Cameroon to seek bilateral friendly cooperation," Jia told Biya in their hour-long talks at the Presidential Palace Wednesday noon.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, was making a three-day official visit to the central African nation. Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), receives a medal from Cameroonian President Paul Biya after their meeting in Yaounde, Cameroon, March 24, 2010Jia and Biya reviewed the progress of bilateral relationship since the two countries established diplomatic ties in 1971, particularly the significant improvement after the China-African Cooperation Summit in 2006.To further China-Cameroon relationship, Jia proposed the joint efforts in cementing political foundation, widening economic cooperation, deepening people-to-people exchange and increase coordination on international issues.Biya echoed Jia's proposal, saying his country would like to work more closely with China in those fields.Jia thanked Biya and his government for their efforts to free the Chinese sailors kidnapped in Cameroon early March.On broader China-Africa relationship, Jia said China was committed to implementing the new eight measures introduced by Chinese Premier Wen Jiabao last November in Egypt, which also include debt cancellation, agriculture production, infrastructure, education."China would like to listen to the suggestions of Cameroon and other African countries on carrying out those measures in a bid to generate more benefits for African people at an early time," Jia said.Biya said Africa-China cooperation was characterized by equity, mutual benefit and common development, which had brought substantial benefits to African nations.The president said his country would support China's policy and initiative on Africa.After their meeting, Jia and Biya witnessed the signing of a number of cooperative deals between the two countries.Earlier Wednesday, Jia visited a multifunctional stadium in downtown Yaounde which was financed by China.At the landmark stadium, the largest of its kind in central Africa, Jia watched local people play table tennis and stage the performance of Chinese kungfu.Jia, who arrived in the capital of Cameroon on Tuesday afternoon, held talks with President of National Assembly of Cameroon Cavaye Djibril and delivered a key-note speech on China- Africa relationship.Jia will leave for Namibia on Thursday to continue his 10-day African tour.

BEIJING, March 11 (Xinhua) -- China's export is witnessing a steady recovery as shown by February figures, but uncertainties in the external market could still hamper the revival, political advisors said here Thursday.China's exports grew for the third straight month in February, up 45.7 percent year on year to 94.52 billion U.S. dollars, the General Administration of Customs announced Wednesday.The dramatic increase was a result of a lower comparison basis last year, said Ju Yalian, a member of the National Committee of Chinese People's Political Consultative Conference (CPPCC) and also a senior foreign trade official in the eastern Zhejiang Province, one of the country's key export regions."But compared with figures in the corresponding period in 2008, when China's foreign trade was yet to be hit by the global financial crisis, we could still see a remarkable increase," she said on the sidelines of the ongoing annual session of the CPPCC National Committee, the top political advisory body.China's exports rose 8.2 percent in February from two years ago while imports were up 9.8 percent.The increase indicated the country's continued economic recovery, and a trend of recovery in foreign trade, she said.However, Ju warned that the recovery in export could bring pressure of yuan appreciation and possible trade disputes.Liang Yaowen, head of the Department of Foreign Trade and Economic Cooperation of Guangdong, China's southern export powerhouse, also said that the condition is not "so optimistic", noting that China's foreign trade in February dropped 11.5 percent month on month.Commerce Minister Chen Deming said Saturday China's exports may need two or three years to return to the pre-crisis level, as "global recovery is still haunted by uncertainties.""Now it is still too early to say exports will see full-year growth this year," he said on the sidelines of the annual session of the National People's Congress (NPC), the country's top legislature.

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