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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.

HANGZHOU, July 4 (Xinhua) -- A new regular direct passenger sea route between the Chinese mainland and Taiwan was officially opened Saturday after a ship safely returned from Taiwan.The passenger ship, Coscostar, returned to the Damaiyu Port, Taizhou City of eastern Zhejiang Province Saturday, making it the second port on the mainland that has served the regular direct sea route with Taiwan, said He Jinliang, deputy head of the city's Taiwan affairs office.On June 26, the ship, carrying more than 500 passengers, traveled about 302 km to the Keelung Port of Taiwan, He said.With a tonnage of 26,800, the ship, owned by the China Ocean Shipping Companies Group, could carry about 600 passengers, 256 containers and 150 automobiles.The COSCO Star Passenger Ro-Ro Ship is berthed inside the Dabaiyu Port, prior to its maiden voyage to Keelung of Taiwan, at Taizhou City, east China's Zhejiang Province, June 26, 2010.The ship is scheduled to shuttle once a week. It will depart from Damaiyu in Yuhuan County on Saturday night and return the following Friday. The single trip would take eight to nine hours, traveling at various speed.Wang Yihao, deputy head of Yuhuan County, said the standard ticket costs 600 yuan (88.6 U.S.dollars) and the deluxe class ticket costs 1,000 yuan."The prices are nearly half that of airline tickets. With this new route, cross-Strait travel will be much easier, more comfortable and will attract more mainland tourists to Taiwan," Wang said.In August 2009, the first regular direct sea route was launched to link eastern Fujian Province's Xiamen Port and Taiwan's Taichung Port and Keelung Port.

HONG KONG, Aug. 25 (Xinhua) -- A chartered plane, carrying the bodies of the eight victims, victims' relatives and survivors in the hostage crisis in Philippine capital Manila, arrived at the Hong Kong International Airport on Wednesday evening.Following the arrival, an around-90-minute condolence ceremony was held at the airport, with a senior Hong Kong official and the victims' relatives laying wreaths on the coffins.In a speech after the ceremony, Chief Secretary for Administration of the Hong Kong government Henry Tang urged the Philippine government to provide a detailed account of the causes of death and injury.COMING HOMEThe chartered plane of Cathay Pacific flight number CX 2903, which carried the coffins bearing the bodies of the victims, victims' relatives, several survivors and their kins, arrived in Hong Kong at 7:50 p.m. local time (1150 GMT).The chartered flight took off around 6:19 p.m. local time in Manila after a brief farewell ceremony.The eight slain Hong Kongers and the survivors were among the 21 Hong Kong tourists who were caught in a 11-hour hostage crisis in Manila on Monday. It ended on Monday night with eight hostages killed and seven others injured, one of whom still in critical condition.Upon arrival, Henry Tang, along with President of Hong Kong's Legislative Council Jasper Tsang, Governor of the Non-official Members of Hong Kong's Executive Council Leung Chun-ying, Commissioner of the Ministry of Foreign Affairs Lu Xinhua, and deputy director of the Liaison Office of the Central People's Government in Hong Kong Li Gang, stepped onto the plane to receive them home.After that, a solemn and heart-stricken ceremony was staged at the airport, which was live broadcast by the city's main TV stations.Pulled by trailers, coffins of the eight dead Hong Kongers, batch by batch separated by family, passed and stopped before a crowd of officials and families amid mournful music.Tang and tearful family members of the eight victims laid wreaths on the coffins of the eight victims, before the bodies were sent to Kwai Chung Public Mortuary.Some of the injured were sent to local hospitals, where Hong Kong's Chief Executive Donald Tsang later visited them.

TORONTO, Canada, June 27 (Xinhua) -- Chinese President Hu Jintao laid out on Sunday a three-point proposal for promoting a strong, sustainable and balanced global economic growth, calling for joint efforts of the international community for global economic recovery.While addressing the fourth G20 summit in Toronto, Hu said in his speech titled "Work in Unity for the Future" that the world economy is gradually recovering with the help of the concerted efforts of G20 members and the entire international community.However, he warned that the recovery was unfirmly established, unbalanced, and still facing "quite many uncertainties," such as the expanding sovereign debt crisis, drastic exchange rates fluctuations of major currencies and persistent volatility in the international financial markets.Seeking to address these problems and materialize a strong and balanced growth worldwide, Hu laid out a three-point proposal."First, we need to turn the G20 from an effective mechanism to counter the international financial crisis to a premier platform for advancing international economic cooperation," said the Chinese president."The complex world economic situation makes it necessary for the G20 to play a guiding role. We need to take a longer-term perspective and shift the focus of the G20 from coordinating stimulus measures to coordinating growth, from addressing short-term contingencies to promoting long-term governance and from passive response to proactive planning," he said.

VIENNA, July 25 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi said here on Sunday mutual trust, support and enhanced cooperation are needed in the development of Sino-EU relations.Yang made the remark during talks with his Austrian counterpart Michael Spindelegger, during which they exchanged views on Sino- European relations.Yang said China and the European Union, while the biggest developing country and the biggest bloc of developed countries respectively, are also two major economies in the world. The two sides have neither fundamental conflict of interests, nor unresolved historical issues. Both sides believe in multilateralism and cultural diversity. Both support free trade. The two sides share broad common interests in tackling global climate change, driving world economy towards an early revival, and improving global management.China and Europe are major players in promoting world peace and development, Yang noted.Chinese Foreign Minister Yang Jiechi holds talks with his Austrian counterpart Michael Spindelegger in Vienna, capital of Austria, on July 25, 2010.Yang pointed out China and Europe are currently each in their own vital phase of development. With the international situation going through profound changes and ever-growing global challenges of various sorts, China and Europe need mutual trust, support and strengthened cooperation, Yang added.He said China attaches great importance to the development of comprehensive strategic partnership with EU and is willing to make joint efforts with EU in three aspects in order to improve the partnership.Firstly, keep up high-level visits and communications, strengthening mutual political trust.Secondly, strengthen parliamentary, party and people-to-people communications, consolidating public opinion and social foundations in the development of Sino-Eu relations.Thirdly, comprehensively push forward pragmatic cooperation, especially in areas of trade, high and new technology, green economy, standing together against trade protectionism, so as to achieve mutually beneficial and win-win situation.Yang also noted that the 13th meeting between Chinese and EU leaders, planned by both sides, and due to be held in October, is an important opportunity to define future Sino-EU relations. China would like to strengthen communication with EU, so the meeting could achieve positive results.Spindelegger said Austria was willing to play an active part in enhancing the development of Sino-EU relations.