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BEIJING, Jan. 30 (Xinhua) -- China Unicom, the country's second largest telecom operator, said Saturday its net profit might have dropped by more than 50 percent in 2009, as the one-time gain from the sale of a mobile business laid a higher comparison basis for 2008.China Unicom, in October 2008, sold its Code Division Multiple Access (CDMA) business and related assets to China Telecom, the largest fixed line service provider of the country, which substantially increased the profits of the company in 2008.The company said in a statement filed to the Shanghai Stock Exchange that its profit was also affected by the high costs for its new Wideband-CDMA operations.
BEIJING, March 22 (Xinhua) -- Senior Chinese leader Zhou Yongkang has urged law enforcement departments at all levels to ensure their work practices are just and incorrupt to better solve social conflicts and uphold justice."Currently, our country is experiencing a period when social conflicts are prominent and more and more cases have emerged in the judicial field," Zhou told a plenary meeting for the Political and Legislative Affairs Committee of the CPC Central Committee here Monday."More people are expecting to protect their own rights through judicial channels and they also have a higher requirement for just law enforcement," said Zhou, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee."However, many people's ideas, abilities and working styles in the judiciary who enforced the law still left much to be desired," he said, adding that many proposals raised during the just-concluded annual parliamentary and political advisory sessions were about law enforcement.Zhou urged related departments at all levels to "carefully" study these advices and proposals and investigate and correct mistakes.

BEIJING, Feb. 21 (Xinhua) -- Some 64.15 million people travelled on China's roads on Saturday, the 22nd day of the Spring Festival traffic rush, the Ministry of Transport (MOT) said Sunday.This figure is a 7.8 percent increase compared to the corresponding day last year, as millions of people began to return to work as the one-week holiday neared its end, the MOT said in a statement on its website.The Spring Festival, or Chinese Lunar New Year, fell on Feb. 14 this year. It is the most important Chinese traditional festival for family reunions. Millions of Chinese journey across China during the 40-day rush period beginning Jan. 30. Passengers queue up for tickets at the Nanchang Railway Station in Nanchang, capital of east China's Jiangxi Province, Feb. 21, 2010. Traval peak occurred throughout China as the Spring Festival holidays endedMore than 29.6 million passengers travelled by train during the Spring Festival week from Feb. 13 to Feb. 19, up 11.9 percent from a year earlier, China's Ministry of Railways (MOR) said Sunday.China's railways also carried 68.64 million tonnes of freight during the period, an increase of 29.7 percent compared to the corresponding week last year, the MOR said. Passengers enter the Taiyuan Railway Station in Taiyuan, capital of north China's Shanxi Province, Feb. 21, 2010. Traval peak occurred throughout China as the Spring Festival holidays ended.
BEIJING, March 20 (Xinhua) -- The appreciation of renminbi, or China's currency yuan, will not help tackle the global economic imbalance, economists said here Saturday.The idea that yuan's appreciation would cure global economic imbalance was not going to happen, Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, said at the China Development Forum 2010.To solve trade imbalance, countries such as the United States and China should seek measures to encourage domestic consumption, improve social well-being and reform pension system, instead of sticking to the exchange rate issue, Gurria said.The exchange rate adjustment, especially between the United States and China, would not help cut the U.S. trade deficit, while one way to tackle the problem is to loose restrictions on high-technology exports to China, Nobel Prize-winning economist Joseph Stiglitz said.Since China overtook Germany to become the world's largest exporter, the country is facing increasing criticism for devaluating the yuan to earn artificial price advantages. Some U.S. senators have recently ratcheted up pressure on yuan appreciation and urged the government to label China as currency manipulator."If the U.S. government names China as a currency manipulator, quite unfortunately, it will hurt the bilateral relations at least in short and medium term," said Li Daokui, director of the Center for China in the World Economy of Tsinghua University."The two countries should be cooperative to solve the problem, while naming China as a currency manipulator will be no help," Li said."After all, it will not be in the interests of the United States, China and the whole world if the two countries' disputes escalate into a trade war," he said.
BEIJING, Jan. 21 (Xinhua) -- China's yuan-denominated individual home mortgage lending rose 1.4 trillion yuan (204.98 billion U.S. dollars) in 2009, up 47.9 percent from the previous year, said a report issued by the People's Bank of China, the central bank, on Wednesday.The growth rate was 37.4 percentage points higher than the previous year, said the report on China's investment flow in 2009.Meanwhile, the yuan-denominated property development lending gained 576.4 billion yuan in 2009, up 30.7 percent year on year, and the growth rate was 20.4 percentage points more than the previous year, the report said.The total mid-term and long-term loans in foreign and domestic currency expanded 7.1 trillion yuan in 2009, up 43.5 percent from the previous year, and the growth rate was 23.4 percentage points more than the previous year.The short-term loans in foreign and domestic currency expanded 2.3 trillion yuan, up 758.5 billion yuan from the same period last year.Industrial mid-term and long-term loans in foreign and domestic currency added 1 trillion yuan among China's major financial institutions, up 26 percent from the previous year.Infrastructure mid-term and long-term loans in foreign and domestic currency expanded 2.5 trillion yuan, up 43 percent from the same period last year, according to the report.The central bank said on Jan. 15 that China's new yuan-denominated lending in 2009 hit a record 9.59 trillion yuan (1.4 trillion U.S. dollars), almost double that of the previous year.
来源:资阳报