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BEIJING, Aug. 29 (Xinhua) -- China National Chemical Engineering Co., Ltd. (CNCEC), one of the country's leading engineering, procurement and construction firms, said its net profit for the first six months of 2010 grew by 58.61 percent.Net profits totaled 653 million yuan (96 million U.S. dollars) while earnings per share stood at 0.13 yuan, up 20.37 percent from one year earlier, the company said in a statement filed with the Shanghai Stock Exchange late Sunday.CNCEC said its revenues during the first half of this year were valued at 14.57 billion yuan, among which project construction contracts accounted for 13.03 billion yuan, up 15.97 percent from one year earlier.The Beijing-based company has also made progress in overseas markets where revenues increased by 63.53 percent to nearly three billion yuan, while domestic revenues grew by 8.54 percent to 11.5 billion yuan, according to the statement.CNCEC attributed its strong performance to collective material purchasing, improved outsourcing and investment management, continuously reduced project costs and an effective human resources incentive mechanism.

BEIJING, Oct. 13 (Xinhua) -- The value of yuan, China's currency Renminbi, hit new high against U.S. dollar Wednesday as the central parity rate of the yuan was set at 6.6693 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Wednesday's central parity rate beat the previous record of 6.6732 on Oct. 11.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Wednesday's central parity, the Chinese currency has strengthened against the U.S. dollar by about 2.32 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 9.294 Wednesday, lower from 9.2574 on Oct. 12, the previous trading day.The yuan's rate against 100 yen was 8.1477 Wednesday, compared with 8.124 on Tuesday.

BRUSSELS, Oct. 4 (Xinhua) -- Chinese Premier Wen Jiabao said on Monday that ASEM members should work together and take solid steps to advance Asia-Europe cooperation.In an address at the opening ceremony of the eighth Asia-Europe Meeting (ASEM) Summit in Brussels, Wen made a five-point proposal on advancing Asia-Europe cooperation from a strategic and long-term perspective."With the joining of Australia, New Zealand and Russia, ASEM partners have formed a close-knit community of interests, covering the entire Eurasian continent from east to west," Wen said.Chinese Premier Wen Jiabao attends the opening ceremony of the eighth Asia-Europe Meeting (ASEM) in Brussels, Belgium, Oct. 4, 2010. Wen Jiabao delivered a speech at the opening ceremony."We must seize the opportunities, keep up with the times, and take solid steps to advance Asia-Europe cooperation from a strategic and long-term perspective," he said.ASEM partners must work together to promote world economic growth, Wen pointed out."We should intensify macroeconomic policy coordination, manage with caution the timing and pace of an exit strategy from economic stimulus, and keep the exchange rates of major reserve currencies relatively stable," he said.Asian and European countries should strive to ensure steady recovery of the world economy, Wen said, adding that they also need to promote economic restructuring, gradually remove the systemic and structural risks, enhance fiscal sustainability and build internal drivers of economic growth.ASEM partners must work together to reform the international economic and financial systems, the premier noted.

PYONGYANG, Oct. 11 (Xinhua) -- Zhou Yongkang, a senior official of the Communist Party of China (CPC), concluded an official goodwill visit to the Democratic People's Republic of Korea (DPRK) on Monday, which indicated the latest developments of the China-DPRK friendship.During his three-day stay in the DPRK, Zhou, a member of the Standing Committee of the Politburo of the CPC Central Committee, met with DPRK top leader Kim Jong Il.Zhou also observed a grand military parade and attended other events to celebrate the 65th birthday of the ruling Workers' Party of Korea (WPK).Kim Jong Il (R), top leader of the Democratic People's Republic of Korea (DPRK), meets with Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the Political and Legislative Affairs Committee of the CPC Central Committee, in Pyongyang, capital of the DPRK, Oct. 11, 2010.CONVEYING CONGRATULATIONSUpon his arrival in Pyongyang on Saturday, Zhou conveyed warm congratulations on the 65th anniversary of the WPK, which falls on Sunday.Thanks to the careful nurturing of the two parties and the two peoples, the deeply rooted China-DPRK friendship had yielded many fruits, said Zhou, also secretary of the CPC Central Commission for Political and Legal Affairs.Meanwhile, Hu Jintao, general secretary of the CPC Central Committee, sent a congratulatory message to Kim, general secretary of the WPK, on the occasion.The CPC highly cherishes the traditional China-DPRK friendship, and makes it an unswerving policy to continuously strengthen and develop bilateral friendly and cooperative ties, said Hu in his message."We are willing to make joint efforts with the DPRK side to continuously promote China-DPRK relations to a new and higher level," Hu said.China and the DPRK have enjoyed a smooth development of bilateral relations in recent years and have a tradition of maintaining high-level contacts. Within this year, Kim has paid two unofficial visits to China, in May and August, respectively.Zhou's visit came shortly after a landmark conference of the WPK on Sept. 28, at which Kim, who has served as general secretary of the WPK since October 1997, was re-elected.Kim Jong Un, a son of Kim Jong Il, was appointed as one of the two vice-chairmen of the Central Military Commission, headed by Kim the senior.

BEIJING, Sept. 14 (Xinhua) -- China UnionPay and MasterCard Worldwide announced Tuesday that they have signed a Memorandum of Understanding for future business development.The agreement seeks to set up a cooperation mechanism for both sides and the two companies plan to form working groups to discuss and implement development plans for online payments and other business opportunities.China UnionPay is the bankcard association in China, operating unified interbank clearing and settlement systems throughout the country.