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BEIJING, Feb. 5 (Xinhua) -- Lending to China's small and medium-sized enterprises (SMEs) rose faster than loans to large enterprises last year, according to the People's Bank of China (PBOC), the central bank.Outstanding loans to small enterprises by banks and financial institutions jumped 29.3 percent year on year to 7.55 trillion yuan (1.15 trillion U.S. dollars) in 2010, while loans to medium-sized enterprises stood at 10.13 trillion yuan, up 17.8 percent, said the PBOC.Outstanding loans to large enterprises rose 13.3 percent to 13.42 trillion yuan, highlighting the government's efforts to optimize the loan structure, the PBOC said.About 99 percent of Chinese enterprises are SMEs which contribute 60 percent of the country's gross domestic product.Financing has long been difficult for Chinese SMEs as banks prefer to lend to big companies, particularly reputable state-owned enterprises.The government has moved to help SMEs get finance by differentiating the reserve requirement ratio for the Rural Credit Cooperative, the major lender to SMEs, and encouraging innovation in SME bond issuance.In July last year, the PBOC asked financial institutions to establish independent criteria for approving loans to SMEs and to improve efficiency in processing SME loan applications.The PBOC said SME loan growth would continue to accelerate this year.

SAN FRANCISCO, April 25 (Xinhua) -- Oracle Corp. on Monday announced that its co-president Safra Catz is taking the additional position as the software giant's chief financial officer (CFO), following the resignation of its current CFO Jeff Epstein.Epstein was named Oracle's CFO in September 2008, and had reported directly to Catz. Oracle didn't give details about Epstein's departure.Catz joined Oracle in April 1999 and has been its president since January 2004. She previously served as the company's CFO from November 2005 to September 2008."Safra already has the long-standing confidence of our employees, our Board and our shareholders," Oracle's chief executive officer Larry Ellison said in a statement, adding that " there is no more logical choice for CFO.""The CFO function has reported to Safra for a number of years and she's acted as Oracle's CFO in the past. She has the full support of the Board," noted Jeff Henley, chairman of Oracle's board of directors.

BEIJING, Feb. 17 (Xinhua) -- China's new rules for reviewing proposed mergers and acquisition (M&A) deals by foreign firms on grounds of national security would benefit both Chinese and foreign investors, a Ministry of Commerce (MOC) spokesman said Thursday.The rules will facilitate the growth of foreign-invested enterprises (FIEs) in China and improve the quality and structure of foreign direct investment (FDI) flowing into China, MOC spokesman Yao Jian said at a press conference.The move also marked an improving legal environment for the security of China's business sector along with its opening-up drive, given that M&A by FIEs will increasingly become a trend in the coming years, Yao said."The adoption of the rules in China will also increase policy transparency and improve law-based government administration," said Yao.Yao's words came after the State Council, China's Cabinet, announced last Saturday that it was establishing a panel to check whether M&A deals struck by foreign firms in the country endanger national security.The panel will review attempts by FIEs to buy or merge with domestic companies whose business pertains to national defence, agriculture, energy, resources, key infrastructure, transport systems, key technology sectors and important equipment manufacturing industries, according to a statement published on the central government's website www.gov.cn.The review will be conducted by a foreign investment security review board under the cabinet, members of which come from the National Development and Reform Commission (NDRC), the MOC and other agencies.The new regulations, which take effect in March, come at a time when China is expected to see more M&A deals struck by foreign firms.Currently, inward M&A accounts for about 3 percent of China's total FDI, a sharp contrast with the global average level of more than 70 percent, said Yao. "M&A by FIEs will become a major trend in China."China's taking in FDI through more M&A will promote industrial consolidation and restructuring, and it will also mean more efficient utilization of the existing resources, he said."As the share of M&A in the FDI will probably rise from the current 3 percent to 8 percent, 10 percent or even more, it is necessary to timely formulate China's own rules governing foreign takeovers in line with international standards," Yao said.In April 2010, the State Council said in a statement that foreign investment should be allowed to be more diversified and foreign investors encouraged to participate in the consolidation and restructuring of domestic firms via equity holdings or acquisitions.He Manqing, a researcher with the Chinese Academy of International Trade and Economic Cooperation of the MOC, said "It is right and proper to impose regulations and requirements on proposed M&A deals in the sectors of strategic importance and those involving national security.""The introduction of the regulations conforms to the new trend in China's receiving of FDI and indicates that China's regulations on FDI are becoming more mature," said He.The NDRC said Wednesday that national security scrutiny would only occur when foreign companies take a majority stake in a domestic M&A deal, meaning that a minority stake purchase will not trigger a review."The new rules draw references from similar rules in the United States, Germany and Canada," the NDRC said in a statement on its website.The NDRC also said that the new regulations were in line with World Trade Organization rules and did not imply that China had changed its policies on opening up and attracting FDI.China's FDI jumped 23.4 percent in January to 10.03 billion U.S. dollars, said Yao. The monthly growth rate was up from December's 15.6 percent.As the world's top investment destination, China received a total of 105.74 billion U.S dollars in FDI in 2010, up 17.4 percent year on year, the MOC said last month.

BEIJING, Feb. 13 (Xinhua) -- Snow fell again in Beijing Saturday night, three days after the city had its first snow this winter.Snow continued falling on Sunday morning but was forecasted to stop in the daytime.From 8:00 p.m. Saturday to 8:00 a.m. Sunday, precipitation in Beijing averaged 1.7 mm to 3.1 mm in downtown areas, local meteorologists said.Zhang Qiang, head of the municipal artificial weather intervention office, said the office began cloud seeding and was continuing efforts to increase snowfall from 7:25 p.m. Saturday in the nine districts and counties of Miyun, Mentougou, Yanqing, Haidian, Pinggu, Changping, Shijingshan, Fangshan and Huairou.By 8:20 a.m. Sunday, 657 silver iodide rods had been used to increase the snowfall.More than 3,583 people and 768 vehicles have been mobilized since Saturday to clear the snow on major roads of Beijing to ensure road transportation, according to the city transportation departments.Beijing had its first snow of the winter Wednesday and Thursday after 108 days of zero precipitation.Meteorologists said the snowfall in Beijing had helped ease the pressure of drought."Beijing is expected to have another cold front from Feb. 15 to Feb. 16, but it is not sure if there will be another snowfall then," said Liao Xiaonong, chief weatherman with the Beijing Meteorological Bureau.

SAN FRANCISCO, April 22 (Xinhua) - Amazon's web-services disruption issues have not been completely resolved Friday morning, as some websites still in slow recovery.Amazon said in an update early Friday that meaningful progress has been made and is expected to continue over the next few hours.Reddit, a social news website, said on its homepage that "we are slowly getting our capacity back," and users may be able to log in if lucky. Some sites appeared to have recovered, including location-based social networking site Foursquare and HootSuite, an online brand management and social websites monitoring service.Amazon has not released the number of companies which have been disrupted by the outage and when the web-services will fully recover.The outage highlights risks of relying on public cloud service. Security and reliability have been experts' concerns on public could web-hosting service. Many Internet startups have been relying on the service to bring their costs down.Elastic Compute Cloud (EC2) is a central part of Amazon's cloud computing platform Amazon Web Services. It allows users to rent virtual computers on which to run their own computer applications. The European Space Agency, PBS and Ericsson are all among its cloud service customers.According to Amazon's Service Health Dashboard, errors began at 1:41 a.m. PDT Thursday in its datacenter in northern Virginia, saying "instance connectivity, latency and error rates."