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BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.     The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported.     The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.    CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales.     To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan.     PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."

BEIJING, Aug. 4 (Xinhua) -- Chinese President Hu Jintao said here on Monday that the Chinese government and people would honor their commitment of hosting a high-level Olympic Games with distinguishing features in Beijing.     "It is also our hope that through the Games, we can show the world the sincere aspiration of the Chinese people to share the benefits of development and to join with the rest of the world in building a bright future," Hu said in a speech delivered at the opening ceremony of the 120th session of the International Olympic Committee (IOC), held in the National Center for the Performing Arts in central Beijing. Chinese President Hu Jintao addresses the opening ceremony of the 120th International Olympic Committee (IOC) session at the National Center for the Performing Arts in Beijing, China, Aug. 4, 2008. The 120th IOC session was opened here on MondayWith just four days before the opening of the 29th summer Olympics, the Chinese president expressed his "heartfelt gratitude" to IOC President Jacques Rogge and all IOC members, for their "important guidance and warm support in many ways" for Beijing during the city's bid and preparation for the Games.     Calling the Olympic Games "the largest international sports and cultural event in the world" and "a grand celebration of friendship and peace for mankind," Hu said China hoped the Beijing Games would further promote the development of the Olympic Movement, further spread the Olympic spirit, and further enhance the cooperation in sports and other fields between China and other countries and regions. Chinese top leaders Hu Jintao, Xi Jinping and Zhou Yongkang pose for a group photo with members of the International Olympic Committee (IOC) prior to the opening ceremony of the 120th IOC session in Beijing, China, Aug. 4, 2008. The 120th IOC session was opened at the National Center for the Performing Arts in Beijing on Monday.The president pointed out that the Chinese people are keen on sports, while the Chinese government has attached great importance to the development of sports and has made great efforts to improve the whole nation's physical quality and health level.     "In the last three decades of reform and opening-up, China has made not only rapid economic development and social progress, but also great achievements in sport," he noted.     Sport has played a vital role in promoting China's social and economic development, and served as a major bridge for China's exchange and cooperation with the outside world, he added.     Hu praised the modern Olympic Movement for its "outstanding contributions to the progress of world sport, the strengthening of friendship among athletes and people of the world, and the promotion of world peace and development."     The Chinese government and people would like to make contribution to the progress of the Olympic Movement and to the building of a harmonious world of perpetual peace and common prosperity, said the president.     The Beijing Olympic Games are slated to open on Friday evening in the National Stadium, dubbed the Bird's Nest, in north Beijing.

HAIKOU, Oct. 3 (Xinhua) -- Higos, the 17th tropical storm of the year, landed in China's southernmost Hainan Province Friday evening, local observatory said.     Higos landed at 10:15 p.m. in Longlou Town, Wenchang City, 19.6 degrees north latitude and 111.0 degrees east longitude. The wind speed at the eye of the storm was 18 meters per second, according to the Hainan Provincial Meteorological Observatory.     It was forecast to weaken and move northwest towards the coastal areas of western Guangdong Province. Delayed trucks are parked at the Xiuying port in Haikou, capital of south China's Hainan Province Oct. 3, 2008, due to the suspension of ferry service.In total, 24,115 fishing boats in the province had returned to port and coastal fisheries staff had gone home. All recreational sporting activities on the air or sea were also suspended on Friday, said Lin Mingzhong, Hainan Provincial Office for Flood, Wind and Drought Control deputy director.     He predicted Higos would have minor impact on the island as the rainfall was expected to be around 100 mm. It was likely to affect some small reservoirs as their current water level was high.     Higos was formed on Tuesday in the Pacific Ocean, coming on the heels of tropical storms Jangmi and Hagupit, which combined had killed about 20 people in China. A rescue ship waits at a port in Haikou, capital of south China's Hainan Province Oct. 3, 2008. Higos, the 17th tropical storm this year, will drop heavy rain on parts of south China's Guangdong and Hainan provinces over the next two days, the country's National Meteorological Observatory said on Thursday.

FUZHOU, July 28 (Xinhua) -- Typhoon Fung Wong, the eighth tropical storm to hit China's coast this year, made landfall in the southeastern Fujian Province on Monday, according to the provincial observatory.     The eye of the powerful typhoon landed at Donghan Town of Fuqing City at 10 p.m. with winds of up to 119 km per hour. Vehicles splash through a flooded street in Fuzhou City, capital of southeast China's Fujian Province, July 28, 2008. Typhoon Fung Wong, which was lashing Taiwan on Monday morning, continued to strengthen as it headed toward the southeastern coast of mainland China, according to the observatory of Fujian Province. Though in the eye, Donghan Town saw no rainstorm or strong wind. "Heavy rains and winds are expected after the eye leaves the town," an official with the flood control office of Fuqing City said.     Before the typhoon landed, Fuqing had seen torrential rain with 205 millimeters falling from midnight to 8 p.m. on Monday.     In Puxia County, the power was cut off as 15 electricity transmission lines and 498 transformer stations were damaged. But no casualties were reported.     The typhoon is also likely to bring more heavy rains and strong winds in coastal areas of the province early on Tuesday. The rainfall could exceed 200 millimeters, the meteorologists forecast.     Offshore, winds could increase to force 12, while in the coastal cities, force 7 to 9 winds were expected, according to the latest forecast of the provincial meteorological station.     Torrential rains were forecast to hit the cities of Ningde, Putian and Quanzhou as well as the provincial capital Fuzhou. Boats bump on waves along the coast of Changle, Fuzhou City, capital of southeast China's Fujian Province, July 27, 2008Typhoon Fung Wong lashed Taiwan on Monday morning, affecting the whole island with wind and rain, just a week after tropical storm Kalmaegi killed 19 people and left six others missing on the island.     Fung Wong will be the strongest tropical storm so far this year, and will strike along China's eastern and southern regions with heavy rain and strong winds, according to observatories in Fujian, Guangdong, Zhejiang and Jiangxi provinces.     The authority of the eastern Zhejiang Province has issued an alert on geological hazards in Wenzhou, Lishui and Taizhou cities from Monday midnight till Tuesday.     Under the typhoon's influence, heavy rain will continue till Wednesday in the province.     Zhejiang has evacuated 338,573 people and called back 27,656 fishing boats by late Monday, according to the provincial flood control and drought relief headquarters.