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BEIJING, Nov. 20 (Xinhua) -- Profits of China's state-owned enterprises (SOEs) administered by the central government more than doubled in October from a year ago after months of declines, a senior official said here on Friday. The 132 central SOEs reaped a profit of 79.5 billion yuan (11.64 billion U.S. dollars) in October, up 151 percent year on year, said Huang Shuhe, deputy director of the State-owed Assets Supervision and Administration Commission (SASAC) at the 2009 Annual CEO Forum. In October, revenues surged by 22 percent from a year ago to nearly 1.16 trillion yuan, Huang said. Their profits during Jan-Oct was 633.8 billion yuan, while revenues amounted to 9.83 trillion yuan during the same period. Huang also noted 24 central SOEs had entered the rank of Fortune 500 companies. "China's companies still face difficulties and great challenges due to roaring raw material prices, huge environmental pressure and rampant protectionism triggered by the financial crisis," he said. He said the companies should further enhance independent innovation, improve corporate governance and accelerate the pace of "go global" to compete with foreign brands.
CAIRO, Nov. 6 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Friday, starting a two-day official visit to Egypt preceding a top-level review of action to build China-Africa cooperation. Egyptian Prime Minister Ahmed Nazef received Wen at the airport. During his visit, Wen is scheduled to meet with Egyptian President Hosni Mubarak and hold talks with Nazef. He will also meet with Arab League chief Amr Mussa, and deliver a speech at the Arab League headquarters in Cairo. This is Wen's second official visit to Egypt. The first was in 2006, which marked the 50th anniversary of establishing diplomaticties between China and Egypt. Visiting Chinese Premier Wen Jiabao is greeted during a welcoming ceremony in Cairo, capital of Egypt, Nov. 6, 2009After his official visit to Egypt, Wen will attend the opening ceremony of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian resort of Sharm el-Sheikh on Sunday. Wen will also hold bilateral meetings with leaders of FOCAC member countries at Sharm el-Sheikh. The FOCAC meeting, an important gathering after the Beijing Summit of the forum in November 2006, will review how the consensus of the Beijing Summit has been implemented. It is also expected to adopt a declaration and an action plan for 2010-2012 to chart the path for further China-Africa cooperation. Chinese Foreign Minister Yang Jiechi and Commerce Minister Chen Deming, as well as other senior officials, are accompanying Wen.
SHANGHAI, Nov. 15 (Xinhua) -- U.S. President Barack Obama arrived in China's economic hub Shanghai on Sunday night, starting a state visit to China. Air Force One touched down at the Shanghai Pudong International Airport in heavy rain at about 23:10. This is Obama's first state visit to China since he assumed the presidency in January. He is also the first U.S. president who paid a state visit to China within one year in office. This year marks the 30th anniversary of diplomatic ties between the People's Republic of China and the United States. U.S. Secretary of State Hillary Clinton, Permanent Representative to the United Nations Susan Rice and National Security Advisor James Jones also arrived in Shanghai Sunday night. U.S. President Barack Obama arrives in Shanghai on Nov. 15, 2009 to begin his first state visit to ChinaPresident Obama will meet with local officials on Monday and have a dialogue with Chinese youth, during which he is supposed to answer questions from netizens via Xinhuanet, a news website of the Xinhua News Agency on Monday. He will leave Shanghai Monday afternoon for Beijing, where he will hold talks with Chinese President Hu Jintao and meet with other Chinese leaders. Leaders of the two countries are expected to discuss bilateral ties and major international and regional issues of common concern, according to diplomatic sources. A girl presents a bouquet to U.S. President Barack Obama after he arrives at Shanghai Pudong International Airport on Nov. 15, 2009Presidents of the two countries have met several times since Obama took office. They agreed to forge positive, cooperative and comprehensive ties in the 21st century during their first meeting on the sidelines of the Group of 20 financial summit in London in April and pledged to further such relations in another meeting five months later in New York. Obama's visit to China will be of great significance for the development of Sino-U.S. ties in the new era, Chinese Foreign Minister Yang Jiechi said Saturday.
BEIJING, Nov. 21 (Xinhua) -- An earthquake measuring 4.3 on the Richter Scale hit a border area between northwest China's Ningxia Hui Autonomous Region and the northern Inner Mongolia Autonomous Region Saturday afternoon, according to the China Earthquake Networks Center. The epicenter was at 38.2 degrees north latitude and 106.6 degrees east longitude. Xinhua reporters in Yinchuan, capital of Ningxia, said tremor was felt in the downtown area. No casualties have been reported.
BEIJING, Jan. 7 (Xinhua) -- The annual per capita GDP in Beijing was expected to top 10,000 U.S. dollars in 2009 as the national capital expected an over 9.5 percent economic growth for the same year, said an official with the municipal economic planning agency Thursday. Beijing expected to rake in financial revenue totaling 202.7 billion yuan (about 29.8 billion U.S. dollars), up 10.3 percent year on year, said Zhang Gong, head of the Beijing Municipal Development and Reform Committee. The income of urban and rural residents were estimated to rise by 9 percent and 12 percent respectively in 2009 compared to 2008 figures, said Zhang. Government policies and investment had helped boost local industries amid the global downturn, Zhang said. The city's industrial added value was expected to grow by about 8 percent and the service sector by more than 10.5 percent in 2009, accounting for 73.5 percent of Beijing overall economic strength. Beijing also strengthened infrastructure construction in 2009 to raise its capability for sustained development, Zhang said. The length of highways and track traffic lines in operation reached 884 kilometers and 228 kilometers respectively currently. The city still has 276.7 kilometers of track traffic line under construction, he said. The annual per capita GDP in Beijing was more than 9,075 U.S. dollars in 2008 and the figure was 7,370 U.S. dollars in 2007.