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HEFEI, Sept. 4 (Xinhua) -- China's top 500 enterprises reported smaller revenue gaps with their U.S. counterparts, while outperforming their worldwide competitors in profitability amid the nation's rapid economic recovery, an industrial ranking report showed Saturday.China's top 500 enterprises chalked up 4.05 trillion U.S. dollars in operating revenues last year, equivalent to about 18 percent of the operating revenue total created by the world's top 500 companies in the same year, and the ratio was 2.62 percentage points lower than the figure recorded for the year earlier, according to a report released Saturday in Hefei, capital of east China's Anhui Province, by the China Enterprise Confederation (CEC) and China Enterprise Directors Association.The average profit margin of China's top 500 enterprises was 5.44 percent in 2009, compared with 4.16 percent for the world's top 500 companies.Further, the net profits of the Chinese heavyweights grew by more than 20 percent last year, faster than the 17 percent for the world's top 500. It was the second consecutive year that Chinese enterprises outshone theirforeign counterparts in annual profits.Miao Rong, researcher with CEC, said despite the progress, China's top 500 enterprises obviously suffered from the impact of the global financial crisis as they reported slower growth in new employment and business revenues.However, unlike the world's top 500 companies, most of which are service and high tech giants, a lion's share of China's top 500 businesses are traditional industrial enterprises in the fields of energy development, telecommunications and power generation, Miao noted."It is a tough job, in the short-term, to make Chinese corporations catch up with their foreign counterparts in terms of 'soft power' , such as the capability of resource integration, management expertise, brand building and intellectual property protection," he added.Sinopec, Asia's leading refinery, topped the top 500 revenue list for the fifth consecutive year with 1.39 trillion yuan (about 204.41 billion U.S. dollars) in 2009. It was followed by the State Grid and PetroChina.Also, private businesses were growing rapidly as five companies reported operating revenues exceeding 100 billion yuan. Huawei Technology Co Ltd, a telecommunication equipment producer, recently leaped into the world's top 500 enterprises club.

BEIJING, Oct. 25 (Xinhua) -- Senior Chinese leader Zhou Yongkang Monday called on the country's law enforcement and judicial agencies to safeguard social justice and improve their credibility.Zhou, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of CPC Central Commission for Political and Legal Affairs, made the remarks at the commission's group study.Law enforcement agencies should serve the people, said Zhou, who called for special efforts to enhance the public security, rights protection and social justice.He asked the law enforcement organs to take necessary measures to ensure the security of the Shanghai Expo which closes at the end of this month, and the 16th Asian Games, which are scheduled to start in Guangzhou on Nov. 12.

HANGZHOU, Sept. 24 (Xinhua) -- He Hongwei, a college graduate living in central eastern China's Zhejiang Province, five years ago fussed over landing a decent job amid red-hot competition in the world' s most crowded job market.He then began selling novelty toys on the Internet. Five years on, he has grown into a billionaire and today is busy seeking employees to work in his own factory."I never thought I would make my fortune on the Internet, starting from scratch," the 35-year-old He said.Several years ago, e-shopping was only a "shelter" for many young Chinese who turned to the Internet marketplace to make their living after failing to find decent jobs offline. Most of them earned only paper-thin profits, as e-commerce in China then was still in its infancy.He's story, however, reflected a trend that e-business in China was no longer merely a way of survival, but has become an incubator for the newly-rich who had not expected they could make their fortunes online.According to a report released by Alibaba.com earlier this month, China's largest Nasdaq-listed e-commerce company, some 77 million Chinese individuals and businesses have opened E-shops as of the end of this June.Further, the number of e-shoppers has reached 142 million, or one-third of the nation's total online population.Retail sales at e-shops more than tripled between 2007 and 2009, much faster than the 18 percent growth of retail sales in general during the same period. In the first half of this year, retail sales of e-businesses more than doubled to 211.8 billion yuan (31.6 billion U.S. dollars).Booming sales helped entrepreneurs with e-business start-ups live decent lives, as more than 1 million e-shops at Taobao.com, China's largest online marketplace, earn profits of at least 2,000 yuan a month.As their businesses grow larger, more shops reported profits of over 10 million yuan a year. Sheng Zhenzhong, senior analyst with the research center of Taobao.com, declined to disclose how many such shops were listed on Taobao, but said the number is steadily rising.INTEGRITYAs an old Chinese saying goes, free traders are not bad, which means businessmen should cheat to stay competitive.The old tenet used to work in the early 1980s' when the market economy was initially practiced in China and many businessmen profited from selling shoddy goods.But that could hardly be the case in today's online market, as integrity has become the most important traits for the Internet's commercial success in China.Shi Hongwei is a wholesaler of stockings at Taobao.com. He sells more than 2,000 pairs of socks everyday. For Shi, a young e-shop owner, this is quite a big deal. But, what he cares about most is the rating feedback from his customers.

SHANGHAI, Oct. 18 (Xinhua) -- China will continue to promote gradual exchange rate reforms, even while the yuan is expected to stabilize at a reasonable level, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE) Monday in Shanghai.Yi, also deputy governor of the People's Bank of China (PBOC), or the central bank, made the remarks at a seminar held by the International Monetary Fund (IMF) to discuss the theme "Macro-Prudential Policies -- an Asian Perspective"."The flexibility of the yuan has increased since China launched exchange rate reforms in June. We will further boost those reforms, but the process will be gradual," Yi said."Judging from the markets, the yuan can remain stable at a reasonable and balanced level," he said.China will also continue to expand domestic demand and boost construction in rural medical services, education and infrastructure, he said.Five years ago, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent.Since then, the yuan has strengthened further, albeit slowly, and has risen more than 21 percent against the greenback.On June 19 this year, the Chinese central bank announced that it would further reform the yuan's exchange rate mechanism to improve its flexibility.