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BEIJING, Aug. 22 (Xinhua) -- Wuhan Iron and Steel Company Ltd., the listed subsidiary of China's third largest steel maker, said Sunday that its net profit rose 90.43 percent year on year to 963.53 million yuan (141.7 million U.S. dollars) during the first half of the year as strong economic growth boosted steel demand and prices.The company's first-half-year sales reached 34.36 billion yuan, up 50.72 percent from one year earlier, it said in a statement delivered to the Shanghai Stock Exchange.However, costs also climbed in the first six months compared with a year earlier because of increases in raw material prices, it said.Production costs for steel products gained 47.12 percent year on year to 31.18 billion yuan. Further, the company's steel output in the first half of the year gained 29.75 percent year on year to 8.04 million tonnes.China's producer price index, a major gauge of inflation at the wholesale level, rose 6 percent in the January-June period, according to statistics released by the National Bureau of Statistics.However, the company was likely to face a "difficult time" in the second half of 2010 and meeting its full-year profit target would become a "challenging task" as demand from auto, home appliance and real estate sectors experienced "drastic changes" since July, leading to more restrained sales and falling prices, it said.Company officials also worried that high prices of iron ore, coal and electricity would further push up production costs and squeeze profit margins.On Friday, the price of its shares fell 2.87 percent to 4.73 yuan on the Shanghai bourse.

BERN, SWITZERLAND, July 17 (Xinhua) -- Parliamentary leaders of China and Switzerland on Saturday exchanged views on bilateral ties, parliamentary exchanges and mutual concerns and agreed on closer exchanges between legislative bodies of the two nations for better Sino-Swiss ties.Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC), expressed satisfaction over the significant progress in Sino-Swiss relationship during the recent years at a meeting with Pascale Bruderer, president of the National Council of Swiss Federal Assembly, and Erika Forster- Vannini, president of the Council of States of Swiss Federal Assembly.The development of Sino-Swiss relationship has brought substantial interests to both people and China looks forward to working together with Switzerland to further develop the comprehensive friendship and mutual-beneficial cooperation, Wu said. Switzerland is China's main trade partner in Europe and a major source of foreign investment and technology and China is Switzerland's second largest trade partner in Asia.Wu Bangguo (C), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with Pascale Bruderer (R), president of the National Council of the Swiss Federal Assembly, and Erika Forster-Vannini (L), president of the Council of States of the Swiss Federal Assembly, in Bern on July 17, 2010.Wu appealed that both sides should properly deal with sensitive issues between the two nations to maintain the momentum of the Sino-Swiss relationship. He suggested that China and Switzerland should take more actions to continuously deepen mutual political trust, expand economic cooperation and people-to-people exchanges.The friendly exchange and cooperation between legislative bodies of China and Switzerland will help promote an all-round development of the bilateral ties and are in interest of both people, Wu said.The NPC will work together with the National Council of Swiss Federal Assembly and the Council of States of Swiss Federal Assembly to conduct various exchanges between the two nations' legislative bodies, he added.Bruderer and Vannini said Wu's visit will further promote the Sino-Swiss ties and offer an opportunity for more exchanges between the two nations' legislative bodies. They agreed to conduct closer parliamentary exchanges with China.A further development of Swiss-Chinese ties is interest of Swiss government, legislative bodies and people. The legislative bodies of Swiss will positively push forward the substantial cooperation with China in all areas, they said.

BEIJING, Aug. 24 (Xinhua) -- China and South Africa announced a "comprehensive strategic partnership" on Tuesday during South African President Jacob Zuma's first state visit to China.Chinese President Hu Jintao and Zuma signed the Beijing Declaration after their one-hour talk in the Great Hall of the People Tuesday afternoon, during which the two presidents praised the growth of bilateral ties and agreed to lift relations to new heights."In this new spirit of China-South Africa relations, we will work together to advance the bilateral comprehensive strategic partnership," Hu told Zuma.Hu made specific proposals that the two countries maintain close contacts between leaders, utilize cooperative mechanism to further implement bilateral cooperation documents and strengthen exchanges between ruling parties and legislatures.In the economic area, Hu hoped both sides would promote trade and investment growth, energy cooperation and optimize financial services.China and South Africa need to work together in culture, education, media, health and tourism, Hu said, bolstering more academic and research cooperation.On the multilateral front, the countries need to improve consultation and coordination to further South-to-South cooperation and tackle global challenges.

BEIJING, Aug. 3 (Xinhua) -- China kicked off a five-day military exercise in two provinces on Tuesday in which 12,000 military personnel and seven types of military aircraft are taking part.The military exercise, code-named "Vanguard-2010", was carried out simultaneously in seven cities across the provinces of Henan and Shandong at 8:21 a.m. Tuesday and featured simulated emergency evacuations and planning for combat.The drill, consisting of two phases from Tuesday to Saturday, will feature emergency evacuations, war planning, reconnaissance, early warning activities, ground-to-air attacks and evacuations of command posts during its first phase ending Thursday.Its second phase consists of testing Chinese air defense troops' ability in fighting air units in a "complicated electromagnetic environment."At 8:21 a.m. on Tuesday, air defense forces from the People's Liberation Army (PLA) and paramilitary forces in the seven cities including Qingdao, Jinan, Zhengzhou and Kaifeng began evacuation plans and successfully moved to designated areas, screens at the drill's commanding headquarter showed.By about 10:10, an air defense brigade from the PLA Jinan Military Command led by its commander, Zhao Geng, had already traveled 100 km and begun to formulate war plans.

HARARE, June 18 (Xinhua) -- The National Art Gallery of Zimbabwe said on Friday Zimbabwe's stone sculpture on exhibition at the 2010 Shanghai World Expo has particularly proved popular among Chinese visitors.Assistant curator Thomas Pasirai who recently went to Shanghai as an expert to help set up Zimbabwe's exhibition in the African pavilion, told Xinhua in an interview that the Chinese were fascinated by Zimbabwe's stone works."The Zimbabwean pavilion is fantastic and the Chinese are very excited about our pavilion to the extent that we have got some Chinese who are being photographed with some of the life-size stone works while others get excited to the extent of kissing the works," Pasirai said.He said Zimbabwe was in a unique position in that it was one of the few countries that produce stone sculpture different from other African countries."Other African countries do wood work and other materials but with us it is that stone sculpture which is particularly exciting the Chinese," he said.The National Art Gallery shipped about 80 pieces of stone carvings that are on display at the Shanghai Expo. These were sourced from various artists and different studios in the country, Pasirai said.Other products being marketed include basketry, wooden drums and stools.Organizations such as the National Parks and Wildlife Management Authority and the Zimbabwe Tourism Authority are also exhibiting."By the end of this month we will be having exhibitions like trophies and stuffed animals," he said.Pasirai said Zimbabwe's pavilion was exceptionally designed according to the Great Zimbabwe, the amazing ancient ruins from which Zimbabwe derive its name. The ruins, in scripted in 1986 as the UNESCO World Heritage site, is among Zimbabwe's great tourist attractions.The other side of the pavilion shows the mighty Victoria Falls while the other shows pictures of flora and fauna and the different projects being undertaken in Zimbabwe to improve the lives of communities, Pasirai said.He said Zimbabwe was highlighting these projects in keeping with the theme of the Expo, which is "Better City, Better Life" from where Zimbabwe has adapted its theme "Transforming our Communities for A better Life"."We are doing this to enable the Chinese to understand us more. We want them to understand that Zimbabwe is a beautiful nation where they can enjoy the flora and fauna."Zimbabwe is sharing exhibition space with other African countries in the African pavilion where it is neighbors with Zambia and Uganda.There is also a selling bazaar where exhibitors from different African countries are selling their wares.Pasirai commended China for the excellent way it had created the Expo, noting that China's design culture was very advanced.China's promotion of the green environment and the general hygiene on the streets also caught Pasirai's eye who hoped Zimbabweans will emulate some of the hygienic standards in the Asian country."The Chinese do have a culture of management of waste from an individual perspective and I hope our people will learn from them, "he said.Zimbabwe will send about 60 small and medium enterprises to exhibit at the Expo which started in May and ends in October this year. The entrepreneurs will go in batches of 10 per month.More than 200 countries and up to 80 million visitors are expected to descend on Shanghai for the six-month exposition, and Zimbabwe will get a chance on August 11- a national day set for it- to showcase its economic, tourism and business potential to the world.Each participating country will have a day set aside for it to market itself to the outside world.Apart from marketing various products, Zimbabwe has said it will take the Expo as an image building opportunity after years of negative publicity from the Western media.