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WUHAN: The China Enterprise Confederation (CEC) has released its latest list of the country's top 500 companies.State-owned China Petrochemical Corporation, also called Sinopec, was the largest company by revenue, with 1.06 trillion yuan (9.5 billion) in 2006. It was the only company to top 1 trillion yuan.Foreign trade dealer Zhucheng Waimao Co Ltd ranked 500. The Shandong province-based company recorded 7.216 billion yuan.Companies in the list witnessed a 23.7 percent increase in revenue and 25.9 percent hike in profits from the previous year, largely because of continued growth from mergers and acquisitions.However, the money-earning performance of the 500 still falls far behind that of the world's top 500 as compiled by Forbes.China's top performers recorded a modest 4.72 percent on profit margin, lower than the average 7.32 percent of the world's top 500, the CEC report said.The return on equity of the top 500 was 10.1 percent, much lower than the 16.1 percent of the world's top 500."The top 500 China is still mainly ranked in size instead of performance," Li Wei, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council said."That is a gap between China and developed countries."A total of 22 Chinese companies were among the world's top 500 in 2007. Sinopec, the largest company in China, ranked 17th."China's top firms have still focused their business on traditional industries, mainly manufacturing," Yang Du, professor at Renmin University of China, said.As many as 280 companies, accounting for 56 percent of the top 500 are from manufacturing industries, and less than 30 percent are from service-related industries.China's top 500 have been continually expanding, with 131 of them, merging and acquiring some 408 other businesses last year."But these merger and acquisition (M&A) activities are mainly limited within the same industries and few of the M&A deals are cross-industries," Yang said.Among the top 500, 96 are headquartered in Beijing and 40 are from East China's Jiangsu Province.

Chinese officials said water quality was improving in the country's third-largest lake, choked by a polluted slick of algae, but experts warned that tap water in the area was still not safe, state media reported on Saturday. Taihu Lake, in the southern province of Jiangsu, has been struck by a foul-smelling canopy of algae that left tap water undrinkable for more than 2.3 million residents of nearby Wuxi and prompted a run on bottled water at local supermarkets. Residents said the government was telling them it was safe to drink boiled water, but complained that it still had an unappealing green film on top. Environment experts said it was unlikely to be fit to drink. "Although quality of the water supply has improved significantly on Friday and now it is safe for washing hands or clothes, it still takes some time to become drinkable," the Zhang Xiaojian, an environment specialist at Tsinghua University in Beijing said. Algae blooms can develop in water that is rich in nutrients, often because of run-off from heavy fertiliser use, industrial waste and untreated sewage. Officials have invoked emergency measures, diverting the Yangtze river and seeding clouds to provoke rainfall, to try to flush out the algae. Heavy rainfall is also expected in the area in the next few days. Residents of Wuxi said the algae, which they said smelt like rotten meat, was driving a roaring trade at McDonald's and KFC fast-food outlets in the city. "Here they fry food," said a company manager named Zhao as he queued at KFC. "I can't eat dumplings or noodles because they would be cooked in water and it's too expensive to use bottled water."

Six Uygurs have been sentenced to death or life imprisonment for secessionist activities in the Xinjiang Uygur Autonomous Region, the Xinhua News Agency reported Sunday.They were convicted of engaging in "separatist activities", "training at a terrorist camp" and "illegally making explosives" by the intermediate people's court of Kashgar last Thursday.The six people were believed to be members of the East Turkestan Islamic Movement, which the UN listed as a terrorist organization.Two were sentenced to death, two received death sentences with two years' reprieve and the other two were jailed for life.The court heard that the six had engaged in a series of secessionist activities from August 2005 until this January, when they were arrested.Together, they planned, led and organized a terrorist camp and led two missions aimed at securing explosives.They made 67 grenades and two bombs that could be used for suicide attacks with the 16 kg of explosives they had acquired, Xinhua reported.

XI'AN -- Lawmakers in Northwest China's Shaanxi Province enacted a law on Saturday that is intended to improve protection of the Qinling Mountains, a habitat of endangered giant pandas.The law, which will take effect on March 1, is aimed at preserving biodiversity, preventing soil erosion (which averages 84 million tons a year) and promoting harmony between man and nature in the mountain range, which is a divide between China's north and south.It requires all future development projects in the Qinling Mountains to be assessed for their possible impact on the ecology and bans real estate projects and polluting industries in nature reserves, where the ecology is more vulnerable.The law also bans mining and resource exploration in nature reserves and forest parks.Local governments must ensure immediate demolition of existing projects that are potentially harmful to the ecology, it says.The Qinling range, which largely spans Shaanxi Province, covers more than 50,000 square kilometers.The range is home to approximately 300 Qinling pandas, a sub-species of giant pandas on the verge of extinction, and many other rare animals under state protection, such as golden monkeys, the red ibis and antelopes.

XI'AN -- A fire burnt up trees and shrubs on a mountain that shrouds one of the most famed imperial mausoleums in the ancient city of Xi'an in northwest China's Shaanxi Province, but no damage was caused to the cultural relics, local museum officials said on Sunday.The fire broke out around 2:00 p.m. Saturday on the western part of a mountain that encased the tombs of a powerful Chinese empress Wu Zetian and her husband Gaozong in the Tang Dynasty (618-907). The Qianling Mausoleum, as the tombs are called, reportedly houses the most precious possessions of the two rulers, including paintings, ceramics, calligraphy works and jewelry articles.The fire was fanned up by sandstorms which struck the area on Saturday, said Fan Yingfeng, curator of the Qianling Museum.More than 100 local villagers and 15 fire-fighters managed to put out the fire around 3:10 p.m. on Saturday. About 30 trees and a few shrubs were lost to the blaze.Initial investigation showed the fire was caused by a deserted cigarette end in the dry grasses."Although the fire didn't cause any major damage, it reflected an urgent need to educate residents in neighboring villages to guard against fire risks," Fan said.He said lessons should be learnt from the destruction of a 600-year-old Namdaemun gate in Seoul, one of the most treasured landmarks in the Republic of Korea. The two-tiered gate was set ablaze by a man upset over a land dispute.

来源：资阳报