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HEFEI, Sept. 4 (Xinhua) -- China's top 500 enterprises reported smaller revenue gaps with their U.S. counterparts, while outperforming their worldwide competitors in profitability amid the nation's rapid economic recovery, an industrial ranking report showed Saturday.China's top 500 enterprises chalked up 4.05 trillion U.S. dollars in operating revenues last year, equivalent to about 18 percent of the operating revenue total created by the world's top 500 companies in the same year, and the ratio was 2.62 percentage points lower than the figure recorded for the year earlier, according to a report released Saturday in Hefei, capital of east China's Anhui Province, by the China Enterprise Confederation (CEC) and China Enterprise Directors Association.The average profit margin of China's top 500 enterprises was 5.44 percent in 2009, compared with 4.16 percent for the world's top 500 companies.Further, the net profits of the Chinese heavyweights grew by more than 20 percent last year, faster than the 17 percent for the world's top 500. It was the second consecutive year that Chinese enterprises outshone theirforeign counterparts in annual profits.Miao Rong, researcher with CEC, said despite the progress, China's top 500 enterprises obviously suffered from the impact of the global financial crisis as they reported slower growth in new employment and business revenues.However, unlike the world's top 500 companies, most of which are service and high tech giants, a lion's share of China's top 500 businesses are traditional industrial enterprises in the fields of energy development, telecommunications and power generation, Miao noted."It is a tough job, in the short-term, to make Chinese corporations catch up with their foreign counterparts in terms of 'soft power' , such as the capability of resource integration, management expertise, brand building and intellectual property protection," he added.Sinopec, Asia's leading refinery, topped the top 500 revenue list for the fifth consecutive year with 1.39 trillion yuan (about 204.41 billion U.S. dollars) in 2009. It was followed by the State Grid and PetroChina.Also, private businesses were growing rapidly as five companies reported operating revenues exceeding 100 billion yuan. Huawei Technology Co Ltd, a telecommunication equipment producer, recently leaped into the world's top 500 enterprises club.

LISBON, Nov. 8 (Xinhua) -- Chinese President Hu Jintao's two-day visit to Portugal is believed to help turn a new page in bilateral relations.Portuguese President Anibal Cavaco Silva, who extended a sincere welcome to his Chinese counterpart, said the visit was of great importance and would push forward bilateral cooperation and friendship.Hu wound up his visit to Portugal on Sunday.Apart from Silva,

BEIJING, Aug. 28 (Xinhua) -- Chinese legislators on Saturday passed the People's Mediation Law on the final day of the bimonthly meeting of the Standing Committee of the National People's Congress (NPC), the top legislature.The law establishes the people's mediation committee as the legal organization to resolve everyday disputes, and sets down the procedure for formation of such an organization within community committees.The law stipulates that governments at county levels and above shall provide financial support for mediation work and shall honor and reward outstanding mediation committees and mediators.The law encourages people to settle disputes at the neighborhood-level, outside of courts and arbitration.To achieve that goal, the law streamlines the relation between mediation and other kinds of dispute resolution methods. It provides that courts at the grassroots level, as well as police offices, should inform parties involved in disputes about the possibility of solving such disputes through mediation.The law also spells out that agreements reached in the mediation procedure are legally binding and can be enforced by courts upon one party's request.Nonetheless, the law stipulates that mediation should be carried out in accordance with the parties' real intent. If one of the parties in dispute has explicitly refused to resolve the problem through mediation, the mediation should not be undertaken.In China, people traditionally regard going to court as a very serious action, so resolving disputes through mediation has become popular.China has more than 4.9 million mediators working in more than 800,000 mediation committees, according to the Ministry of Justice.These organizations handled more than 7.67 million disputes last year, with a 97.2-percent resolution rate, while only 1 percent went on to litigation.

BEIJING, Sept. 21 (Xinhua) -- China's top political advisor, Jia Qinglin, Tuesday called for greater efforts to develop the economies of ethnic minority areas.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remark at the closing ceremony of a seminar on ethnic minorities work for provincial- and ministerial-level officials in Beijing Tuesday.Ethnic minority issues are important and the Communist Party of China (CPC) must properly handle them while governing the country, said Jia, who is also a Standing Committee member of the Political Bureau of the CPC Central Committee.He said officials must unswervingly implement CPC Central Committee policies concerning ethnic minority issues.He urged officials to improve the livelihood of ethnic minority groups and promote unity among China's different ethnic groups.In properly handling ethnic minority issues, the key is to strengthen the Party's leadership and enhance the abilities of officials at all levels, he said.Vice Premier Hui Liangyu also attended the closing ceremony.

PARIS, Nov. 4 (Xinhua) -- Chinese President Hu Jintao and his French counterpart Nicolas Sarkozy on Thursday vowed to boost the comprehensive strategic partnership between their countries. In talks with Sarkozy, Hu said the China-France relationship has been characterized by its strategic and global nature and its ability to move with the times since diplomatic ties were forged 46 years ago.Political dialogue has increasingly deepened and political mutual trust strengthened, said Hu.Bilateral trade is expected to exceed 40 billion U.S. dollars this year, and mutual investment has continuously increased, he said.The two countries have carried out extensive exchanges and cooperation in education, science and technology, and culture, and have kept close communication and coordination on major international issues, he added.Sarkozy said it was a great honor to receive Hu in his second state visit to France.Sarkozy congratulated China on the successful holding of the World Expo in Shanghai, saying the expo was another major international event hosted by China after the 2008 Beijing Olympics.