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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 24 (Xinhua) -- China's State Council, the Cabinet, said Wednesday the country would step up efforts to encourage investment from the private sector.The government would encourage private investment in sectors currently mainly state controlled such as infrastructure for transport, telecommunications and energy, public utility, scientistic and technological programs for national defense, and the building of affordable housing, according to a statement released after the Cabinet's executive meeting Wednesday chaired by Premier Wen Jiabao.The State Council called for private firms, which played an important role in creating jobs, to strengthen independent innovation and roll out more new products, according to the statement.The government would also help some private enterprises set up technology research centers.Private companies were welcome to participate in the reform of state firms by purchasing a stake in them, it said.The government said it would create a good environment for private investment by setting up a sound administrative service system and amend unfavorable laws and regulations.In an effort to combat the global financial downturn, the government agreed at the Central Economic Work Conference last December to promote private enterprises so to create jobs, to increase market access for private investment and protect the legitimate rights and interests of private investors.

LONDON, Feb. 15 (Xinhua) -- British Prime Minister Gordon Brown said "Gong Xi Fa Cai", or "Wishing you prosperity" in Chinese, on Monday during a reception held at 10 Downing Street to mark the start of the Chinese Lunar New Year.In a message to mark the occasion, Brown said the government would continue to promote values shared with the thriving Chinese community such as the belief in "hard work, enterprise, community spirit and strong families."British Prime Minister Gordon Brown (1st L) expresses warm new year wishes to attendees during a reception at No. 10 Downing Street, the residence of the Prime Minister, in London, capital of the U.K., Feb. 15, 2010. Brown hosted a reception for overseas Chinese in Britain here on Monday to celebrate the Chinese Lunar New Year that falls on Feb. 14 this yearBrown said: "We are doing all we can to ensure economic stability and job security and I am proud that many Chinese entrepreneurs continue to create employment and contribute to the nation's GDP."Almost 100 guests including television presenter Gok Wan visited Number 10 to celebrate the beginning of the Year of the Tiger. British Prime Minister Gordon Brown expresses warm new year wishes to attendees during a reception at No. 10 Downing Street, the residence of the Prime Minister, in London, capital of the U.K., Feb. 15, 2010.
BEIJING, Feb. 16 (Xinhua) -- Foreign-funded enterprises in China exported 494.4 billion U.S. dollars worth of machinery, electrical and electronic products in 2009.A document posted on the website of the General Administration of Customs (GAC) said the figure made up 69.3 percent of the country's total exports of such products in the past year.Exports of machinery, electrical and electronic products by privately-owned enterprises totalled 106.6 billion U.S. dollars in 2009, down 8.7 percent from a year earlier, according to the document.State-owned enterprises only exported 92.1 billion U.S. dollars worth of machinery, electrical and electronic products, accounting for 12.9 percent of the country's total machinery, electrical and electronic products last year.The GAC document also said the majority of the country's exports of machinery, electrical and electronic products fell into the category of processing and assembling trade.China's exports of machinery, electrical and electronic products in the category of processing and assembling trade totalled 466.4 billion U.S. dollars last year, making up 65.4 percent of the country's total exports of such products.The country exported 713.1 billion U.S. dollars worth of machinery, electrical and electronic products last year, down 13.4 percent year-on-year. The exports contributed 59.3 percent to China's total exports in 2009.The European Union (EU), the United States of America and Hong Kong were the three major destinations for the China mainland's exports of machinery, electrical and electronic products last year.China exported 1.2 trillion U.S. dollars worth of products last year, down 16 percent from 2008, replacing Germany as the world's largest exporter.
BEIJING, Feb. 28 (Xinhua) -- Some foreign diplomats and journalists based in Beijing Sunday were invited to watch Road of Rejuvenation, a music-and-dance epic highlighting China's twists and turns in the past 170 years.The gala at the National Center for the Performing Arts (NCPA) was presented by more than 1,000 performers, featuring China's modern and contemporary history with chorus, dances, and stage screens.Iwona Rogacka-Hu, an officer with the Embassy of the Republic of Poland, said every step of the country's progress was presented clearly in the epic gala and she was moved by the themes of the mother and motherland.Peter A. Fischer, a Swiss correspondent with Zurich Times (NZZ) Beijing Office, said he saw many battles and difficult times in China's modern history through the show."I hope these will never come again, and China will grow more prosperous and open further up," Fischer said.The gala was produced to mark the 60th anniversary of the founding of the People's Republic of China in October 2009. It debuted in Beijing on Sept. 20 last year.Zhang Jigang, director of the show, said so far 40 performances had been staged at the NCPA, and there are 40 more to go."The tickets for the upcoming shows have been sold out," said Wang Zhengming, vice president of the NCPA.Zhang said the gala had been filmed and would be available in cinemas soon.
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