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BEIJING, May 15 -- China is planning to raise the proportion of profits it collects from major State-owned enterprises (SOEs) in a move to balance income distribution, but analysts said the move should be bolder and the collected profits used to improve public well-being.The Ministry of Finance said on Tuesday that it might raise the ratio of profits of SOEs to be submitted to the State coffers.According to existing rules, monopoly enterprises under the administration of the central government in sectors like tobacco, oil, petrochemicals, power, telecommunications and coal mining should submit 10 percent of their post-tax profits, while the ratio for those in the iron and steel, transportation, electronics and trade sectors should be 5 percent.Financial corporations and companies in sectors like railways, transportation, education, culture, science and technology and agriculture are not included in the profit submission framework.The Ministry of Finance did not reveal by how much the ratio would be raised."It should be raised properly, and even if it were raised by 10 percentage points, it doesn't matter too much for those central enterprises, given their high profit level," said Zhang Wenkui, researcher with the State Council's Development Research Center.Central enterprises have been criticized by the public for having taken advantage of their monopoly or market predominance to make excessive profits. Some of them have further fueled public anger as they bid to purchase land at high prices, which is believed to have pushed up home prices.The central government collected profits of 14 billion yuan ( billion), 44.4 billion yuan and 98.9 billion yuan respectively in 2007, 2008 and last year from SOEs. In 2009 alone, however, the enterprises made profits totaling 965.6 billion yuan.
BEIJING, June 3 (Xinhua) -- Chinese Premier Wen Jiabao's four-nation Asia tour, which took him to South Korea, Japan, Mongolia and Myanmar and a tripartite summit of China, South Korea and Japan, was fruitful and widely applauded, Chinese Foreign Minister Yang Jiechi said Thursday.The week-long tour was conducted against the backdrop that China needs to strengthen mutual trust and further deepen cooperation with the four countries while certain complex and sensitive issues in the region needed to be properly handled, Yang told reporters.The premier made the visits with confidence and hope for peace, friendship and cooperation, he said.POLITICAL MUTUAL TRUST PROMOTEDChinese Premier Wen Jiabao speaks during the third trilateral summit in South Korea's southern resort island of Jeju on May 29, 2010. Chinese Premier Wen Jiabao, South Korean President Lee Myung-bak and Japanese Prime Minister Yukio Hatoyama met in the trilateral summit with the aim of mapping out future cooperation in East Asia. During his visits, Premier Wen repeatedly emphasized the importance of mutual trust in relations and cooperation between nations, and expounded China's position on its peaceful development, its friendly policies toward neighboring countries, and its notion of building a harmonious world.Wen also stressed that China would never seek hegemony and that China's development poses no threat to any other countries, Yang said.Leaders of the four nations said they attached great importance to China's role. They believed that China's development is critical for peace and prosperity of the region and the world at large. They expressed their willingness to keep high-level exchanges with China and to strengthen communication and coordination on major issues.Wen and South Korean leaders agreed that both China and South Korea are important countries in East Asia and have broad common interests, and that the two countries should continue to push forward the bilateral strategic cooperative partnership.In Japan, Wen pointed out that China sees Japan as a strategic partner, not a competitor or a rival. He said the two neighbors should view each other as partners so as to have peaceful coexistence, long-lasting friendship and common development.In Mongolia, Wen stressed that the development of good-neighborly partnership of mutual trust between China and Mongolia serves the fundamental interests of the two peoples and contributes to peace, stability and common development in the region. The Mongolian side reiterated its firm adherence to the one-China policy and strong support to China on the questions of Taiwan and Tibet.In Myanmar, Wen said China respects the Myanmar government and people for their choice of a development path in line with this country's conditions, and wishes Myanmar stability, unity and development. He said China would like to join hands with Myanmar to push forward the development of a good-neighborly cooperative relationship.

BOAO, Hainan, April 11 (Xinhua) -- Competitions between China and India do not necessarily mean confrontation between the two neighboring Asian nations, Indian minister of state for environment and forests Jairam Ramesh said here Sunday."These two giants must cooperate, as the Chinese leaders say, in a harmonious manner," Ramesh said at the Boao Forum for Asia (BFA) annual conference which concluded Sunday in south China's island province of Hainan.Ramesh said both sides have to move forward and compromise.For example, he said cooperation between India and China in the United Nations climate change conference last December in Copenhagen could become a "trigger for deepening cooperation" between the two nations in all fields.At a panel discussion, Ramesh was asked whether the competition between the two nations was as fierce as what was described in The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us, a book written by American journalist Rogyn Meredith.
PRETORIA, March 30 (Xinhua) -- Top Chinese political advisor Jia Qinglin on Tuesday discussed with South African President Jacob Zuma on seeking stronger bilateral relations and coordinating the two countries' stances on climate change.Jia first extended the warm greetings and good wishes of Chinese President Hu Jintao to Zuma, who in return conveyed his greetings to Hu. Hu and Zuma have met several times on the sidelines of the international summits since Zuma took presidency last May.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, was making the visit at the invitation of the National Council of Provinces of South Africa. Jia held talks with Mninwa Mahlangu, chairman of the National Council of Provinces of South Africa, at Cape Town Monday.Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), shakes hands with South African President Jacob Zuma during their meeting in Pretoria, South Africa, on March 30, 2010Zuma said Jia's visit was of great significance to boost bilateral relationship and called on both sides to take the opportunity of the visit to expand substantial cooperation and bring bilateral strategic partnership to a new high.On bilateral relations, Jia reviewed the growth of China- Africa relationship since the two countries established diplomatic ties in 1998, highlighting frequent visits, stronger political trust, enhanced economic cooperation and more solid public foundation.
NINGBO, Zhejiang, May 16 (Xinhua) -- Internet of Things (IOT) -- which refers to digital networks of physical objects -- has huge potentials but many challenges lie ahead, said scientists, entrepreneurs and government officials on Sunday.IOT has become a catchword for those at the Information and Communication Technology and Urban Development Forum held in east China's coastal Ningbo this weekend on the sidelines of the Shanghai Expo; from ministers to mayors, scientists to entrepreneurs, keynote speakers to audiences.China should accelerate the development of the IOT industry so as to create a new platform for economic growth, said Li Yizhong, Minister of Industry and Information Technology in his opening speech to the forum.The first theme forum of the Shanghai World Expo is closed in Ningbo, a coastal city of east China's Zhejiang Province, May 16, 2010. The two-day forum focusing on information and communication technologies (ICT) and urban development attracted over 600 participants including renowned scholars and entrepreneurs.Minister Li's words were echoed by Zhao Hongzhu, communist party chief of Zhejiang Province, who called for more efforts to develop such key concepts as IOT, which, in his words, "present a brilliant future for urban life."In what's called Internet of Things, networks of real-world objects are linked to the Internet and interact through web services. As more objects are embedded with sensors, giving them the ability to communicate, and networked together, the possibilities are enormous, potentially resulting in new business models, improved business processes and reduced costs and risks, according to a March 2010 report by McKinsey & Co..
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