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BEIJING, March 3 -- The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said on Sunday. A China Development Bank office in Shanghai. The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said March 2, 2008.      The CDB cannot turn into a commercial bank immediately since it does not accept individual deposits now, but it will start doing so in the future, said Liu Kegu, vice governor of the bank.     The CDB is one of the three policy lenders in the country.     The CDB at the end of last year received the first 5 billion U.S. dollars of the planned 20-billion-dollar re-capitalization from Central Huijin, an investment arm incorporated into China Investment Corp (CIC).     Liu said the capital injection will not affect the CDB's credit rating since it has the best asset quality among domestic banks. It has a non-performing loan ratio below 1 percent - much lower than that of major commercial banks.     The CDB will retain its long-term credit business and the right to issue financial bonds in the interbank market.     The lender has generated controversy in the banking industry by increasingly becoming involved in commercial business in recent years.     Earlier reports said that the CDB is planning to expand into financial leasing to diversify its business. It is reported to be on the verge of acquiring Shenzhen Financial Leasing Co Ltd for 7 billion yuan, by taking a 90 percent stake.

WUHAN: The China Enterprise Confederation (CEC) has released its latest list of the country's top 500 companies.State-owned China Petrochemical Corporation, also called Sinopec, was the largest company by revenue, with 1.06 trillion yuan (9.5 billion) in 2006. It was the only company to top 1 trillion yuan.Foreign trade dealer Zhucheng Waimao Co Ltd ranked 500. The Shandong province-based company recorded 7.216 billion yuan.Companies in the list witnessed a 23.7 percent increase in revenue and 25.9 percent hike in profits from the previous year, largely because of continued growth from mergers and acquisitions.However, the money-earning performance of the 500 still falls far behind that of the world's top 500 as compiled by Forbes.China's top performers recorded a modest 4.72 percent on profit margin, lower than the average 7.32 percent of the world's top 500, the CEC report said.The return on equity of the top 500 was 10.1 percent, much lower than the 16.1 percent of the world's top 500."The top 500 China is still mainly ranked in size instead of performance," Li Wei, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council said."That is a gap between China and developed countries."A total of 22 Chinese companies were among the world's top 500 in 2007. Sinopec, the largest company in China, ranked 17th."China's top firms have still focused their business on traditional industries, mainly manufacturing," Yang Du, professor at Renmin University of China, said.As many as 280 companies, accounting for 56 percent of the top 500 are from manufacturing industries, and less than 30 percent are from service-related industries.China's top 500 have been continually expanding, with 131 of them, merging and acquiring some 408 other businesses last year."But these merger and acquisition (M&A) activities are mainly limited within the same industries and few of the M&A deals are cross-industries," Yang said.Among the top 500, 96 are headquartered in Beijing and 40 are from East China's Jiangsu Province.

BEIJING -- China has expressed concern about Washington's decision to shoot down a damaged satellite, urging the US Government to fulfill its international obligation.Responding to a question on the US plan to shoot down a damaged satellite, Chinese Foreign Ministry spokesman Liu Jianchao said on Sunday that the Chinese government is highly concerned about development of the situation and has urged the US side to fulfill its international obligation and avoid causing damages to the security in the outer space and other countries."Relevant departments of China are closely watching the situation and working out preventive measures," Liu said.According to news reports, the US Defense Department is planning to shoot down a damaged spy satellite that is expected to hit the Earth in early March. The satellite, which contains toxic fuel, has been out of control shortly after its launch in 2006.

BEIJING -- Beijing has seen a 30 percent decrease in residents' complaints about airborne debris around construction sites in the first 11 months of this year compared with a year earlier, the municipal environment authorities said Sunday.The city fined 7,467 construction sites in 2007 for failing to control dust, involving a total of about 10 million yuan (US.3 million), according to the municipal environmental watchdog. The city also  fined more than 4,000 illegal outdoor barbeques and rubbish incineration facilities.The city reached its goal of 245 "blue sky" days for 2007 on Sunday, when a cold front helped the city hit an annual air quality improvement target just two days before the year ends.Statistics also show that although the number of "blue-sky" days did not increase dramatically, Beijing recorded only three heavily-polluted days this year, sharply down from last year's 13.The Chinese capital launched a drive, "Defending the Blue Sky," in 1998, when it only had 100 days of fairly good air quality. The Olympic host city aims to make 70 percent of the days in 2008 meet the standard.

WASHINGTON: A team of researchers found there is not much difference between the sexes when it comes to talking, when you actually count the words. The researchers placed microphones on 396 college students in the United States and Mexico for periods ranging from two to 10 days, sampled their conversations and calculated how many words they used in the course of a day. The score: Women, 16,215; Men, 15,669. The difference: 546 words: "Not statistically significant," say the researchers in Friday's edition of the journal Science. "What's a 500-word difference, compared with the 45,000-word difference between the most and the least talkative persons" in the study, Matthias R. Mehl, an assistant psychology professor at the University of Arizona, who led the research, said. He said the least talkative person in the study - a male - used just over 500 words a day, while another male topped that by more than 45,000. Co-author James W. Pennebaker, chairman of the psychology department at the University of Texas, said the researchers collected the recordings as part of a larger project to understand how people are affected when they talk about emotional experiences. They were surprised when a magazine article asserted that women use an average of 20,000 words per day compared with 7,000 for men. If there had been that big a difference, he thought, they should have noticed it. "Although many people believe the stereotypes of females as talkative and males as reticent, there is no large-scale study that systematically has recorded the natural conversations of large groups of people for extended periods of time," Pennebaker said. Indeed, Mehl said, one study they found, done in workplaces, showed men talking more. Still, the idea that women use nearly three times as many words a day as men has taken on the status of an "urban legend", he said. Agencies

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