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BEIJING, Oct. 29 (Xinhua) -- China Merchants Bank said Friday its profit rose 57.4 percent to 20.59 billion yuan (3.07 billion U.S. dollars) in the first three quarters from one year earlier.The jump in net profit was mainly due to higher interest income, the bank said in its business report filed with the Shanghai Stock Exchange.Also, total assets of the mid-sized lender had expanded to 2.36 trillion yuan by the end of September, up 14.10 percent from the end of 2009.Additionally, the bank's non-performing loan ratio was 0.64 percent, down 0.18 percentage points from the beginning of this year.Shares of the bank were down 2.41 percent at 14.57 yuan in Shanghai and down 1.13 percent at 21.95 HK dollars in Hong Kong Friday.

FUZHOU, Sept. 10 (Xinhua) -- Meranti, the 10th typhoon to hit China this year, made landfall at Shishi City in the southeastern Chinese province of Fujian at 3:30 a.m. Friday, according to provincial flood control authorities.A total of 145,300 people in Fujian have been evacuated to avoid rain- and wind-triggered accidents.About 33,200 fishing boats returned to port before 8:00 p.m. Thursday to take refuge from the typhoon.Meranti will bring up to 100 mm of rainfall to Fujian's Quanzhou, Putian, Fuzhou and Ningde cities Friday, according to meteorological authorities' forecast.

FUZHOU, Oct. 23 (Xinhua) -- Senior Communist Party of China (CPC) leader Zhou Yongkang, while on an inspection tour, has urged officials in the coastal province of Fujian in southeast China to pursue leapfrog economic development.Fujian should make full use of the opportunity for development and put in place the next five-year development plan based upon its real conditions to significantly improve the people's standards of living, said Zhou, member of the Standing Committee of the Political Bureau of the CPC Central Committee.He further said the province should increase its economic and cultural exchanges with Taiwan.Zhou also told officials to divert more government spending and public services to impoverished areas and low-income residents to boost the development of the old revolutionary base areas, as well as the western and northern areas in Fujian.

SHANGHAI, Oct. 7 (Xinhua) -- The Shanghai municipal government issued new rules Thursday limiting families to one new apartment purchase, as the nation tries to curb property speculation and soaring prices."One family in Shanghai, whether local or immigrant, can only buy one new home, including a second-hand one, for the time being," said a circular released by the municipal government.The new rule came into effect Thursday. The Chinese capital, Beijing, introduced the same measure on April 30.Shanghai authorities also ordered banks to suspend loans for third-home buyers and non-local buyers who could not prove they had paid personal income taxes or made social security contributions in the city for at least one year, the circular said.Local authorities would also start preparing for the introduction of a property tax, it said, without providing further details.A land-appreciation tax of 5 percent on the selling price would also be imposed on property developers if they sold residential buildings at an average price that was more than twice the average price of the previous year in the same area.Shanghai's new rules follow a series of measures announced by the Chinese central government in late September to check soaring property prices.The measures included the suspension of bank loans for third-home purchases in the near future and an adjustment in down payments for all home buyers.All home buyers will have to pay a down payment of at least 30 percent of the purchase price, according to the new rules.Previously, according to rules issued on April 17, only first-time buyers purchasing an apartment covering more than 90-square-meters had to pay a 30 percent down payment.On the same day, sources within several departments of the central government told Xinhua that property tax pilot programs will be stepped up and then extended across the entire country.

BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.

来源：资阳报