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CHICAGO, April 21 (Xinhua) -- The Chicago-based Boeing Company reported on Wednesday that its first-quarter net earnings were 519 million U.S. dollars, down 15 percent from 610 million dollars in the same quarter last year, citing the health care legislation charge.The aerospace and defense giant said in its first quarterly financial report that total revenues for the first three months were 15.22 billion dollars, down from 16.50 billion dollars in the prior year quarter while the earnings per share was down to 70 cents from 86 cents one year ago.Boeing indicated that the results for the quarter reflect solid performance across core businesses and a previously disclosed 20 cents charge per share on health care legislation, while the year- ago quarter results were reduced by 31 cents per share on a charge due to poor market conditions in commercial airplanes."With clear progress on the 787 and 747-8, solid financial performance and marked improvement in our customer outlook, we continue to draw on the positive momentum we saw at the end of 2009," said Jim McNerney, Boeing chairman, president and chief executive officer.Boeing's earnings guidance for 2010 is pegged at 3.50 dollars to 3.80 dollars per share, reduced from 3.70 to 4.00 per share due to the charge on health care legislation. At the same time, the company continues to expect that 2011 revenue will be higher than 2010, primarily driven by projected 787 and 747-8 deliveries."Our outlook remains attractive, and we are focused on executing well and delivering on our commitments to customers," said McNerney.The report also indicated that the 787 program continued flight testing during the quarter, as an additional two airplanes joined the two airplanes already in the flight test program.The Dreamliner completed key flight test milestones such as flutter, stall and ground-effect tests. On March 28, the static test unit successfully completed the ultimate load test with a fully pressurized cabin.The 787's first delivery is expected in the fourth quarter of 2010. Total firm orders for the 787 at quarter-end were 866 airplanes from 57 customers.

BEIJING, April 7 (Xinhua) -- The Chinese government encourages Chinese businesses to set up economic and trade cooperation zones in member states of the Association of Southeast Asian Nations (ASEAN) to deepen cooperation, a senior commerce official said Wednesday.Vice Minister of Commerce Gao Hucheng, speaking at a preparatory meeting for the seventh China-ASEAN Expo, said China and ASEAN members have strengthened economic and trade cooperation since the China-ASEAN Free Trade Area (CAFTA) came into effect on Jan. 1 this year.Customs data showed that bilateral trade totalled 39.12 billion U.S. dollars in the first two months of 2009, up 66 percent from a year ago.Chinese exports to ASEAN states rose 52.9 percent to 18.69 billion U.S. dollars while imports from ASEAN jumped 80.2 percent to 20.43 billion U.S. dollars.Gao called upon "eligible" Chinese enterprises to "go overseas" to ASEAN countries to set up economic and trade zones with infrastructure and industrial chains.He also said the two sides should implement the agreement on trade and expand trade, calling for an increase in the trade of high value-added products, including mechanical and electrical products and other hi-tech products.The two sides' enterprises should further expand cooperation and deepening ties in the agricultural, manufacturing, infrastructure, resources, and processing sectors, he said.The CAFTA, covering a population of about 1.9 billion, is the world's third largest trade agreement in terms of trade volume, after the European Union and the North American Free Trade Area.The ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.Under the CAFTA, the average tariff on goods from ASEAN countries entering China has been cut to 0.1 percent from 9.8 percent, while the six original ASEAN members - Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand - slashed the average tariff on Chinese goods entering ASEAN states from 12.8 percent to 0.6 percent.The seventh China-ASEAN Expo will be held in Nanning, capital of Guangxi Zhuang Autonomous Region, from Oct. 20 to 24 this year.

BEIJING, April 9 (Xinhua) -- Visiting U.S. Under Secretary of State Robert D. Hormats said here Friday he is very optimistic the United States and China could address problems in a constructive way.He made the remarks when delivering a speech at the China Institute of Contemporary International Relations. Hormats, who once served as a senior economics advisor to Dr. Henry Kissinger, has visited China many times.He hailed the U.S.-China relationship that has witnessed "remarkable development" since the two countries forged diplomatic ties.But that does not mean there are no differences or competition between the United States and China, he added.Still, when looking back, the differences the two countries have been resolved in a constructive way, he said.The two countries' leaders understand they need to get along, he said.Hormats has made the visit to China amid calls in the United States for China to let its currency, the yuan, appreciate in value against the dollar.He said the United States commends China for its efforts to undertake rebalancing in China, and "we think China had made great progress.""We do not regard the competition with China as a zero-sum game," Hormats said, adding that strong growth in China helps the United States.The U.S.-China relationship is extremely important, and the two countries have a great opportunity now to do things in their common interests, he said.At the upcoming Nuclear Security Summit in Washington, Chinese President Hu Jintao and U.S. President Barack Obama will meet while the second China-U.S. Strategic and Economic Dialogue will take place in May.Hormats also said the two countries need to enhance collaboration within the global architecture, and expand cooperation in areas such as clean energy, innovation and economic rebalancing.Hormats will also attend the annual meeting of the Boao Forum for Asia (BFA) in China's southernmost Hainan Province.

WASHINGTON, April 12 (Xinhua) -- Chinese President Hu Jintao and his U.S. counterpart, Barack Obama, met here Monday to discuss bilateral relations, the Iranian nuclear issue and other matters of common concern.The two presidents exchanged views on bilateral relations and major global and regional issues of common interests, and reached important agreement, Ma Zhaoxu, spokesman of the Chinese delegation, said.Both sides believed that a good China-U.S. relationship serves the common interests of the two countries and contributes to world peace, stability and prosperity, Ma said.Chinese President Hu Jintao (L) meets with U.S. President Barack Obama in Washington April 12, 2010. President Hu Jintao arrived in Washington on Monday to attend the Nuclear Security Summit slated for April 12-13.During the meeting, Hu said China and the United States should properly solve their economic and trade rifts through consultations on an equal footing and jointly uphold the larger interests of China-U.S. economic cooperation and trade.He also said the sound and stable development of China-U.S. economic and trade ties is good for China, for the United States and for the world economic development.On the Iranian nuclear issue, Hu said China hopes various parties will continue to step up diplomatic efforts and actively seek effective ways to resolve it through dialogue and negotiations.China and the United States have the same overall goal on the Iranian nuclear issue, he said.

BEIJING, April 6 (Xinhua) -- China on Tuesday again called for more diplomatic efforts to resolve the Iran nuclear issue."We hope all the parties to further enhance diplomatic efforts on the Iran nuclear issue," Foreign Ministry spokeswoman Jiang Yu told a regular press conference.Jiang said China had maintained close contact with all the relevant parties and hoped all the parties would take more pragmatic and positive measures to properly solve the issue.China has always committed itself to safeguarding the international nuclear non-proliferation regime, the spokesman said.The United States and its western allies have long accused Iran of secretly developing nuclear weapons under the guise of a civilian program, and currently they are discussing a United Nations resolution to impose sanctions.Iran has denied the accusation and stressed its nuclear program was solely for peaceful purposes.

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