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FUZHOU, Nov. 11 (Xinhua)-- Alibaba.com Ltd., operator of China' s largest online-commerce site for businesses, said its paying members in the third quarter exceeded 1 million for the first time, as shown in its unaudited financial figures for the quarter, released on Thursday.Alibaba boasts 56.7 million registered users, 8.2 million storefronts and over 1 million paying members, up by 25 percent, 35 percent and 30 percent respectively, year on year, according to the report."We specifically stepped up our efforts in enforcing a trusted and safe environment in our marketplace by eliminating paying members who committed fraud, as well as those who have a high probability to commit fraud. In this quarter, we terminated about 1,200 Gold Supplier members," said David Wei, chief executive officer of Alibaba.com., as posted on its website.Further, Alibaba's third quarter profit rose by 55 percent to 366.1 million yuan (55.3 million U.S. dollars) from 236 million yuan one year earlier, Alibaba said."Despite the uncertainty and mixed signals in the global economic environment, we are gratified to see our financial growth remained strong during this quarter," said David Wei.

BEIJING, Jan. 17 (Xinhua) -- The China Banking Regulatory Commission (CBRC) announced Monday that it will guide the nation's banks to a scientific pace of lending this year as it stressed bank loans should better serve the real economy.The CBRC said in a statement on its website that it will also expand and improve financial services in the country's rural areas and encourage banks to support borrowing activities from small-sized companies.The CBRC said it will carry out more studies in stepping up support for the country's affordable housing program, which aims to build 10 million affordable housing units for low and middle income residents this year.The commission also said it will continue to implement the differentiated home loan policy adopted last year, under which bank loans for third home purchases are suspended and down payments for all first-time home buyers are at least 30 percent of the purchase price, while second home buyers will have to pay an even higher amount of down payments, at 50 percent.Further, the CBRC said it would tighten controls over lending to local government's financing vehicles in order to ward off risks.Government data showed new yuan-denominated lending in China reached 7.95 trillion yuan (about 1.2 trillion U.S. Dollars) last year, overshooting the government's full-year target of 7.5 trillion yuan.

BEIJING, Dec. 29 (Xinhua) -- China's gross domestic product (GDP) is predicted to grow by around 9.5 percent in 2011, 0.5 percentage points lower compared to the growth rate expected for this year, said a report issued Wednesday by the Bank of China (BOC).The report by the BOC, China's third largest lender, was based on the bank's projections of weak overseas demand, tighter monetary policy, and the government's planned economic restructuring for 2011, the first year of China's 12th five-year plan.The Chinese government announced in early December that it will switch its monetary policy stance from relatively loose to prudent next year to tackle rising inflation and keep economic growth at a sustainable pace.The report also said government policies this year to curb soaring property prices in some major cities, and the country's efforts to improve energy efficiency had slowed the economy with the GDP dropping to 9.6 percent in the third quarter, down from the second quarter's 10.3 percent and 11.9 percent in the first quarter.The report also forecast inflation to rise 4 percent in 2011, compared to the 3.3-percent rise expected for 2010. It said that in the second half of the year, the producer price index (PPI) for China's industrial products had kept rising along with the consumer price index (CPI), adding more inflationary pressure for the future.The Chinese government set a 3-percent target for inflation this year, but looks unachieveable after the index rose 3.2 percent during the first 11 months. Pushed up mainly by rising food prices, the index soared 5.1 percent in November to a 28-month high.The report also predicted new lending next year would be 7 trillion yuan (1.06 trillion U.S. dollars), just slightly down from the 7.5 trillion yuan target set by the government for 2010.Growth rates of retail sales of consumer goods and industrial value-added output would see a slight drop from year 2010, while imports would likely grow by 18 percent, 3 percentage points higher than exports.As inflation triggers wider public concerns, expectations for more hikes in interest rates are strengthening. The report forecast the People's Bank of China, the central bank, would likely hike rates for up to three times next year, mostly during the first half of the year.The central bank on Sunday raised the benchmark one-year lending and deposit rates by 25 basis points for the second time in just over two months. It had also set higher commercial lenders' reserve requirement ratio six times this year in a move to tighten liquidity amid climbing inflation.

TAIPEI, Nov. 26 (Xinhua) -- On the eve of Taiwan's mayoral and city councilor elections, Sean Lien, son of Lien Chan, honorary chairman of Kuomintang (KMT) party, was reportedly shot in the face when he was campaigning for a KMT candidate in Taipei County Friday evening.He was being treated at a local hospital. Local media cited doctors as saying Sean Lien's brain was not injured and his injury would not endanger his life.A spokeswoman of the hospital where Sean Lien was treated said he was sober-minded when he was sent to the hospital. Doctors only found wounds in the man's left cheek and right temple."Though the injury is not life threatening, he needs further observation," said the spokeswoman.Policemen keep guard at a hospital where Sean Lien receives medical treatments, in Taipei, southeast China's Taiwan, Nov. 26, 2010. Sean Lien, son of Lien Chan, honorary chairman of Kuomintang (KMT) party, was reportedly shot in the face when he was campaigning for a KMT candidate in Taipei County Friday evening.According to local police, the shooting occurred at around 8:20 p.m., and a 29-year-old local resident died on the spot after being hit by a stray bullet.A suspect, who was found carrying a pistol and bullets, has been detained.Ting Yuan-chao, director of Lien Chan's office, hoped such violence would not happen again and the society would be peaceful.Mayoral and city councilor elections are scheduled to be held Saturday in Taiwan's five major cities including Taipei City, Taichung, Tainan, Kaohsiung and Taipei County.

BEIJING, Dec. 18 (Xinhua) -- China's official Xinhua News Agency on Saturday formally launched its financial information exchange, an information sharing platform in the financial and cultural sectors to promote development of the nation's capital market.Approved by the People's Bank of China, or the central bank, it is the world's first financial information exchange.It is funded by and registered with the China Finance Corporation (CFC), owned by Xinhua.Located in the Lize business district in the southwest of downtown Beijing, the exchange has the world's largest LCD panel groups at 7,593 inches, which show real-time information in the finance and cultural industries.Member users can also get the latest information on technology transfers and business consultations.The exchange would improve Xinhua's presence and influence in the global financial information sector and enhance China's soft power in the international capital markets, said Xinhua president Li Congjun at the inauguration ceremony."It aims to be a fair, just, professional and highly efficient intermediary service platform in the financial information and cultural sectors to promote information sharing among the cultural sector, industries and the capital markets," he said."The ultimate goal is to become the world's most influential financial information and cultural industry service center."