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TANGSHAN, Hebei, July 18 (Xinhua) -- Chinese Vice President Xi Jinping on Sunday called for greater efforts to fuel the country's transformation of its economic growth pattern.Xi made the call during an inspection to Tangshan, a city ravaged by a 7.8-magnitude earthquake that killed more than 240,000 people in 1976, just days ahead of its 34th anniversary.The Vice President placed flowers before a memorial wall for the earthquake, and expressed his condolences for the quake victims.Chinese Vice President Xi Jinping (L, front), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with an worker at an ore wharf in Caofeidian port, Tangshan City of north China's Hebei Province, July 18, 2010. Xi Jinping paid an inspection to Tangshan from July 17 to July 18.When visiting a local dock and a train factory, Xi said the drive to transform China's economic growth pattern should rely on newly developed and high technologies, and called for greater efforts to develop a circular economy in order to attain "energy-saving, environment-friendly and innovation-driven development."He also urged members of the Communist Party of China to solve more practical problems for the public, and said the current official selection and appointment system should be further improved.
HONG KONG, Aug. 22 (Xinhua) -- China Construction Bank (CCB), the country's second largest bank, said Sunday its net profit in the first half of this year jumped 27 percent to reach 70.78 billion yuan (10.4 billion U.S. dollars) from a year earlier and its non-performing loan (NPL) ratio dropped to 1.22 percent.In a filing to the Hong Kong stock exchange, CCB said its profit before tax amounted to 92.19 billion yuan, up 27.2 percent year on year.RAPID GROWTH IN H1Key contributors to the rapid year-on-year growth of net profit were increased credit supply, service and product innovation, and decreased impairment losses, according to the statement.Regarding credit supply, the bank said its average balance of interest-bearing assets rose by 18.26 percent in the first half, prompting net interest income to surge by 15.33 billion yuan, or 15 percent.On service and product innovation, CCB said net fee and commission income rose by 10.22 billion yuan, or 43.63 percent year on year, as a result of sustained rapid expansion of fee-based business.The Beijing-based lender also said its impairment losses fell by 2.995 billion yuan, or 23.36 percent, due to price rally in foreign currency debt securities with the improving market.CCB President Zhang Jianguo said in the statement that there were signs of recovery in developed economies and robust growth of emerging economies against the backdrop of a gradually warming-up global economy in the first half.China has sustained rapid economic growth, thanks to the government's ongoing stimulation of domestic demand, he said. Foreign trade has gradually improved, while investment and consumption spending have continued to expand at a fast pace, and China's overall financial market performed steadily in the first half.Amid the European sovereign debt crisis and the Chinese government's macro-control policies in the property sector, domestic capital and property markets have undergone noticeable adjustments and are experiencing increasing uncertainties about the future market direction, he said.According to the statement, CCB's net interest income was 117.8 billion yuan, an increase of 15.33 billion, or 14.96 percent year on year.But compared to the same period of 2009, CCB's net interest spread for the first half of this year had dropped by two basis points to 2.32 percent, largely because the yield of interest- bearing assets decreased more than the cost of interest-bearing liabilities, it said.In the first half, CCB's interest income surged by 11.22 billion yuan, or 6.66 percent year on year to 179.65 billion yuan. While the interest expense was 61.85 billion yuan, a year-on-year decrease of 4.12 billion yuan, or 6.24 percent.The bank said its credit asset quality had steadily improved, with non-performing loans standing at 65.17 billion yuan by the end of June this year, a decrease of nearly 7 billion yuan over the end of 2009.

UNITED NATIONS, June 29 (Xinhua) -- A veteran Chinese diplomat and an expert of international law, Xue Hanqin, was elected judge of the International Court of Justice here Tuesday.Xue, a member of the International Law Commission, was elected by the UN General Assembly and the Security Council in separate voting.Xue won all 15 votes in the Security Council on Tuesday morning, Claude Heller, the Mexican UN ambassador who holds the rotating Security Council presidency for June, announced after the 15- nation Council cast the secret ballots.Heller, at the open Council meeting, also read a letter from the president of the General Assembly, Ali Treki, who said that Xue won a majority of votes in the 192-nation UN body.Xue "was elected member of the International Court of Justice," Heller said.The election was conducted under the relevant Security Council resolution to fill the vacancy after Judge Shi Jiuyong, a Chinese, resigned on May 28.She is the only female among the 15 judges of the International Court of Justice, and the third Chinese to serve on the Court.Xue told reporters here that she thanked all those who voted for her and said that she will carry out her duty under the UN Charter and the Statute of the Court.
BEIJING, Aug. 6 (Xinhua) - China's Ministry of Agriculture Friday urged local authorities in flood-hit regions to step up efforts to resume agricultural production and create favorable conditions for the autumn harvest following this summer's severe floods.Local departments were ordered to accelerate water drainage, restore damaged infrastructures, strengthen field management, and plant mung bean, potatoes and buckwheat, which have short growth periods, to make up for losses, according to an official from the ministry.The official also required departments to clear away and carry out bio-safety disposal of dead livestock, while increasing epidemic control measures.As of July 21, more than 7 million hectares of farmland in China had been destroyed by torrential rains and floods, according to data from the State Flood Control and Drought Relief Headquarters.
BEIJING, July 16 (Xinhua) -- Chinese Premier Wen Jiabao and German Chancellor Angela Merkel started talks here Friday, focusing on economic and political issues.Wen hosted a red-carpet welcome ceremony for Merkel, who is on her fourth China tour since taking office, before the meeting at the Great Hall of the People. Chinese Premier Wen Jiabao (R) hosts a red-carpet welcome ceremony for visiting German Chancellor Angela Merkel in Beijing, China, July 16, 2010.
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