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BEIJING, Oct. 23 (Xinhua) -- One of China's top banking regulators has called upon the nation's commercial lenders to improve their balance sheets and reduce excessive reliance on lending for profits.Wang Zhaoxing, deputy chairman of the China Banking Regulatory Commission(CBRC), said banks should not seek excessive profits from a rapid increase in loans and a widening gap between lending and deposit rates, which is unsustainable.Chinese banks went on a lending spree in 2009 in response to the urging of the government as part of the 4-trillion-yuan (601 billion U.S. dollars) stimulus package to ward off the effects of the global financial crisis.Also, nearly 9.6 trillion yuan in new loans last year fuelled fears of banks distributing bad loans.Many banks continue to depend upon issuing credit to government-backed projects to secure profits, Wang said at an industry meeting Thursday. However, those projects often lack adequate risk management.Further, Wang urged lenders to improve balance sheets and the quality of assets, as well as the ability to manage risk aversion.Chinese banking and financial institutions reported net profits of 668.4 billion yuan last year, of which a lion's share came from the gap between deposit and lending rates, investment proceeds and fees, according to the report on China's banking industry issued by the CBRC in July.The report noted that the average capital adequacy ratio stood at 11.4 percent at the end of last year, above the international safety line, while the non-performing loan (NPL) ratio fell to 1.58 percent, down 0.84 percentage points from the level at the beginning of 2009.Despite the improved data, CBRC chairman Liu Mingkang has repeated warnings that an NPL rebound could bring with it risks from lending to local government financing platforms and the property sector which has accumulated asset bubbles.At the meeting, Wang said the CBRC would enhance oversight to assure unscrupulous and unhealthy financial institutions are phased out of the market.Also, China will gradually move towards a market-driven interest rate mechanism, which would ultimately squeeze bank profits.

GUANGZHOU, Nov. 4 (Xinhua) -- China's first inter-city subway, linking two southern China cities hosting the 2010 Asian Games, started operations Wednesday.The 21-kilometer Guangfo Line connects Guangzhou City with Foshan City, both in the manufacturing hub of the Pearl River Delta region in Guangdong Province.Riders on the subway will find that the travel time between the two cities has been reduced from 90 minutes to 30 minutes, said sources with the subway company Guangzhou Metro.The line has 14 stations and a ride from end to end costs only six yuan (less than one U.S. dollar).Local authorities have been pushing for the increased integration of cities in the Pearl River Delta and consider the operation of the Guangfo Line a big step in that direction.The subway was purposely opened one week prior to the start of the 2010 Asian Games. The competitions will be held in Guangzhou, Foshan, Dongguan, and Shanwei.

ISTANBUL, Oct. 8 (Xinhua) -- Chinese Premier Wen Jiabao met with Turkish President Abdullah Gul here Friday on bilateral relations.Wen said China and Turkey have witnessed frequent high-level bilateral exchanges, steady growth of economic, trade and investment cooperation, and good cooperation in regional and international affairs since the establishment of diplomatic ties between the two countries.The establishment of a strategic relationship of cooperation, which the two sides agreed upon Friday, is in the fundamental interests of the two countries and the peoples and is beneficial to world peace and development, he said. Chinese Premier Wen Jiabao (R) meets with Turkish President Abdullah Gul in Istanbul, Turkey, Oct. 8, 2010.Wen said China is willing to work together with Turkey on the implementation of the important consensus and agreeements that the two sides have reached to turn a new chapter in bilateral relations.Gul said Wen's successful visit to Turkey is sure to bring bilateral relations to a new level.He reiterated Turkey's adherence to the one-China policy.The Turkish president said that he saw great potential in the bilateral economic and trade cooperation and that Chinese enterprises are welcome to be involved in Turkish economic development.Gul said mutual understanding between the two peoples is very important and he hoped that the two countries will celebrate the 40th anniversary of the establishment of diplomatic ties next year with further expansion of bilateral cultural exchanges and tourism cooperation.Wen arrived in Turkey Thursday on a three-day official visit at the invitation of Prime Minister Recep Tayyip Erdogan.

BEIJING, Oct. 15 (Xinhua) -- Northeast China's Jilin province, one of the country's major grain production centers, is poised to see a bumper harvest this year despite low temperatures and devastating floods and as concerns about food security increase on the eve of World Food Day on Oct. 16.Grain production is expected to hit a record 29.5 million tonnes in Jilin this year, surpassing the previous high of 28.4 million tonnes in 2008, said Wang Shouchen, vice governor of the province.Meanwhile, Heilongjiang province, the country's largest grain production center in northeast China, may also produce a record output this year, surpassing last year's 43.53 million tonnes.China's annual grain production has grown for six consecutive years, with total output hitting 530.8 million tonnes, up 100.1 million tonnes from 2003, but experts say more frequent natural disasters, decreasing arable land, rapid urbanization and industrialization are posing great challenges to the country's food security.Zheng Fengtian, a professor of agriculture and rural development works with the Beijing-based Renmin University of China, told Xinhua one of greatest future challenges for China's food security will be the Chinese farmer's unwillingness to produce grains because of low yields. Instead, most farmers will prefer being migrant workers in big cities. < Their interest in growing grains might becomes further dampened as prices of agricultural equipment and other materials continue rising. In contrast, migrant workers are receiving increasingly higher pay in the cities, Zheng said.Government figures show about 47 percent of Chinese people, or 622 million people, now live in cities and towns; almost 200 million are immigrants, or people from other parts of the country.At a forum on the urban-rural divide last month, Zuo Xuejin, Executive Vice President of the Shanghai Academy of Social Sciences, said that another 400 million people from rural China are likely to migrate to cities in the next 20 years, which means there will be fewer farmers in the fields.With China's rapid industrialization and urbanization, a decline in available farming land is inevitable, and poses a large threat for China's food security, Zheng Fengtian said.A survey by the Ministry of Land and Resources shows that farm lands have shrunk by 123 million mu (8.2 million hectares) between 1997 and 2009.The Chinese government announced in 2003 that it would put in place a strict system to protect arable land, and guaranteed that a minimum 1.8-billion mu of arable land would be available. But official figures reveal arable land totaled only 1.635 billion mu last year, down by 191 million mu from 2008.Zheng Fengtian said to ensure food security, the government should show more determination in protecting farm land. But more importantly, it should also increase profit yields for grain growers, and by facilitating technological advances, also help to raise the grain yield per unit of arable land.World Food Day, initiated in 1981 by the Food and Agriculture Organization of the United Nations (FAO), is celebrated every year on Oct. 16. The theme this year is United against Hunger.In part due to soaring food prices and the financial crisis in 2009, one billion people around the world are suffering from hunger, which FAO Director-General Jacques Diouf said was a "tragic achievement in these modern days," according to a statement on the FAO website.While some people are starving, the quantity of food that gets wasted stands in stark contrast. Zheng Tianfeng estimated that about 85 million tonnes of grain were wasted in China during consumption and storage. Also, at least 10 percent of food is wasted daily at family dinner tables.A survey by food authorities in 2006 also showed 8-10 percent of the grain was lost in storage, which means that Chinese farmers can lose up to 20 million tonnes of grain each year.In order to help farmers better store their produce, some "grain banks" had been set up in the past. Farmers could deposit their produce in the "banks" and withdraw them when needed.Wu Mancang, a 34-year-old farmer from Taicang city in eastern Jiangsu province, said he used to store grain at his home, but the grain would become spoiled. With the grain "banks", that problem has been resolved. A total of 8 such "banks" with 23 service centers are currently operational in Taicang, covering 60 percent of the farmers in the region."Global warming, and more frequent natural disasters, will also be a challenge for food security," Zheng said, as summer grain output fell 0.3 percent after a prolonged drought in southwestern China in the first half of the year.China's National Development and Reform Commission, the nation' s top economic regulator, said Tuesday it would increase the state minimum purchase price of wheat in major wheat-growing areas in 2011.The minimum purchase price for white wheat will increase by 5 yuan (0.73 U.S. dollars) from the 2010 level to 95 yuan per 50 kilograms, while the price for red wheat will increase by 7 yuan to 93 yuan. The move aims to protect farmer incomes and promote grain production.

BEIJING, Oct. 10 (Xinhua) -- China's week-long National Day holiday took in 280 million yuan (42 million U.S. dollars) in film box office receipts, up 12 percent over last year, said sources in the cinema industry.Half of all ticket sales were for "Detective Dee and the Mystery of the Phantom Flame," a film that debuted on Sept. 29, starring renowned Hong Kong actor Andy Lau and actress Carina Lau, along with mainland actress Li Bingbing.Director John Woo's new film, "Reign of Assassins," had sales of 30 million yuan during the golden week, which critics say was "ordinary" in box office performance but a "good film." Woo is known internationally for his 2000 film "Mission: Impossible II."The Leonardo DiCaprio film "Inception" continues its climb and took in 50 million between Oct. 1 and 7, making it the fourth foreign film ever to take in more than 400 million yuan in the Chinese mainland's box office. The other three were "Avatar," "2012" and "Transformers."Liu Hui, deputy general manager of Beijing-based UME Huaxing Cinema, is very pleased that "theatres are always packed with audiences during the golden week."