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BEIJING, May 13 -- The proportion of China's GDP that goes toward wages has been shrinking for 22 consecutive years, a senior trade union official said on Wednesday.Zhang Jianguo, chief of the collective contracts department with the All-China Federation of Trade Unions (ACFTU), also warned that low pay, long working hours and poor working conditions for millions of workers are triggering conflicts and mass incidents, which pose a grave challenge to social stability.The proportion of the country's GDP that makes up wages and salaries peaked at 56.5 percent in 1983 and dropped to 36.7 percent in 2005, Zhang said."The proportion has not changed too much since then. In contrast, the proportion of returns on capital in GDP had risen by 20 percent during the period from 1978 to 2005," Zhang said in an interview posted on the ACFTU's website.The annual average wages of workers in urban areas had increased from 12,422 yuan (,819) in 2002 to 29,229 yuan in 2008, statistics from the National Bureau of Statistics showed.However, the gap between the rich and poor has been widening in the country and is also growing between urban and rural areas, different provinces and cities, as well as in different industries, he said.About one-quarter of respondents in the latest ACFTU survey said their incomes have not increased in the past five years, while 75.2 percent of them said that current income distribution is not fair. Similarly, 61 percent of those polled said the wages of laborers were low.China developed a capital-labor negotiation system for determining wages in 1994 and it was thought to be the most effective way of increasing workers' salaries.However, "since many cadres of trade unions fail to adequately protect workers' rights, it is very difficult to promote more collective contracts to benefit more workers", Zhang said.By 2009, there were more than 1.2 million collective contracts nationwide, covering more than 2.1 million enterprises and 161 million employees.

BEIJING, May 4 (Xinhua) -- Chinese equities dropped to a seven-month low Tuesday, after the central bank said Sunday it would raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year.The benchmark Shanghai Composite Index lost 1.23 percent to close at 2,835.28 points.The Shenzhen Component Index fell 1.81 percent to 10,960.77 points.Total turnover shrank to 141.55 billion yuan (20.7 billion U.S. dollars) from 191.91 billion yuan on the previous trading day.Losers outnumbered gainers by 533 to 347 in Shanghai and 488 to 429 in Shenzhen.

MANILA, June 4 (Xinhua) -- Philippine President Gloria Macapagal Arroyo lauded bilateral friendship at a ceremony held here Friday to mark the 35th anniversary of the establishment of Chinese-Philippine diplomatic relations.Arroyo said "When I became President, I made June 9 every year Filipino-Chinese Friendship Day. In the past, I set aside June 9 to attend activities to my Filipino-Chinese Friendship Day in Manila. But this year, many of you will be with me in Shanghai to celebrate this occasion."She said, "Our geographical ties, our trade relationship, our family relationship dates back centuries before our diplomatic relations and even before our two republics were established." "We are family, China and the Philippines are family." "We are family, more than neighbors.""During my visits to China over the last nine years, I had the privilege of visiting many cities all over China, and was greeted with the highest-ranking officials, including President Hu Jintao, Premier Wen Jiabao, and former President Jiang Zemin," she said.Philippine President Gloria Macapagal Arroyo receives a gift at the soiree celebrating the 35th anniversary of diplomatic ties between the Philippines and China, in Manila, capital of the Philippines, June 4, 2010. China is now our third largest trading partner. China is also one of the fast growing sources of tourists for the Philippines. The Filipino businessmen have almost invested 3 billions U.S. dollars in China. Likewise, Chinese investments in the Philippines have also grown in the past decades.She also said "I may not be President next month, next year, and the years to come, but as congresswoman...Let me assure you that I remain committed as ever to promoting and further strengthening a solid partnership between our two countries."Chinese ambassador to the Philippines Liu Jianchao said, "More than 35 years ago, our two countries were still overshadowed by zero-sum Cold-War mentality. Today, exchanges and mutual understanding at all levels have reached breath and depth never seen before.He added that 35 years ago, China-Philippines trade volume was lingering around 72 million U.S. dollars. The figure spiked to a record-high at 30 billion U.S. dollars in 2007 and registered a quarter-on-quarter increase of more than 50 percent during the first three months of this year.The numerous exchange visits of artists, writers, journalists, teachers, performers and sportsmen between our two countries have fostered deeper understanding of our ways of life as well as friendship between the Chinese and Filipino peoples. Only through friendship and mutual respect, through understanding and acceptance of common and contrasting characteristics, can nations truly live in an atmosphere of amity and harmony.Alfons A. Uy, president of Federation of Filipino-Chinese Chambers of Commerce, said Chinese-Filipino partnership flourished and grew stronger with the signing of the Joint Communique establishing diplomatic relations between China and the Philippines in 1975."We will also continue to lead the Chinese-Filipino community in undertaking projects that would promote national growth and development," he said.The ceremony was jointly organized by the Federations of Filipino-Chinese Chambers of Commerce and Industry and other Chinese organs to mark the 112th Philippine Independence Day, the 35th anniversary of the Establishment of Diplomatic Relations between China and the Philippines and the 9th Filipino-Chinese Friendship Day.

BEIJING, May 19 (Xinhua) -- China's centrally-administered state-owned enterprises (SOEs) raked in a combined profit of 325.99 billion yuan (47.7 billion U.S. dollars) in the first four months of the year, the industry authorities announced here Wednesday.The profit figure in the January-April period represents 81.7 percent growth year on year, the State-Owned Assets Supervision and Administration Commission (SASAC) said in a statement on its website.Centrally controlled SOE's combined operating revenue hit 4.89 trillion yuan in the period, up 50.4 percent year on year, the statement said.While the statement did not specify the reasons for the profit and revenue increases, experts from the SASAC research center attributed the surge to last year's low comparison basis when Chinese firms were hit hard by the global economic downturn.There are currently 126 centrally-administered SOEs under the SASAC.