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BEIJING, Aug. 22 (Xinhua) -- Wuhan Iron and Steel Company Ltd., the listed subsidiary of China's third largest steel maker, said Sunday that its net profit rose 90.43 percent year on year to 963.53 million yuan (141.7 million U.S. dollars) during the first half of the year as strong economic growth boosted steel demand and prices.The company's first-half-year sales reached 34.36 billion yuan, up 50.72 percent from one year earlier, it said in a statement delivered to the Shanghai Stock Exchange.However, costs also climbed in the first six months compared with a year earlier because of increases in raw material prices, it said.Production costs for steel products gained 47.12 percent year on year to 31.18 billion yuan. Further, the company's steel output in the first half of the year gained 29.75 percent year on year to 8.04 million tonnes.China's producer price index, a major gauge of inflation at the wholesale level, rose 6 percent in the January-June period, according to statistics released by the National Bureau of Statistics.However, the company was likely to face a "difficult time" in the second half of 2010 and meeting its full-year profit target would become a "challenging task" as demand from auto, home appliance and real estate sectors experienced "drastic changes" since July, leading to more restrained sales and falling prices, it said.Company officials also worried that high prices of iron ore, coal and electricity would further push up production costs and squeeze profit margins.On Friday, the price of its shares fell 2.87 percent to 4.73 yuan on the Shanghai bourse.

GUANGZHOU, Aug. 4 (Xinhua) -- Tap water supply was resumed Wednesday in a south China town after a manganese contamination had led to drinking water shortage for 13,000 people since Monday.Local authorities in Lufeng City, Guangdong Provinceon Wednesday installed three temporary pipes to be connected to another local tap water plant that was not affected by manganese, amid efforts to ease drinking water shortage for residents.The city government said the manganese level in the contaminated tap water provided by a local supplier in Da'an town was 1.2 mg per liter since Monday, 12 times the maximum amount allowed in drinking water.The cause of the contamination was still under investigation and environment specialists from Lufeng City were in town to conduct further analysis, said Huang Xianjia, a city government spokesman.According to the safety standards for drinking water, jointly issued by the Ministry of Health and the Standardization Administration in 2007, the maximum manganese level allowed is 0.1 mg in every liter of drinking water.Huang said the contamination was "not serious." "Tap water still appears clear with no odor. It's safe for washing and bathing."But a resident surnamed Wang showed reporters two pails of water he stored on Monday. Dark sediment was seen clearly on the bottom of the pails."It takes time for the mineral to settle and become visible," said Wang.Wang and his neighbors have joined a rush for spring water in mountains near their homes. "Many families have bought new pails. Some carry water on motorbikes while others use shoulder poles," he said.

TORONTO, Canada, June 27 (Xinhua) -- Chinese President Hu Jintao and other leaders of the Group of Twenty (G20) members gathered in Toronto on Sunday for the group's fourth summit, which will focus on ways to secure the world economic recovery and address the economic challenges and risks.At the summit, the leaders will exchange views on ways to consolidate the recovery from the global economic and financial crisis and implement commitments from previous G20 summits while laying the foundation for sustainable and balanced growth.They will discuss a wide range of issues, including the world economic situation, the European debt crisis, "the Framework for Strong, Sustainable and Balanced Growth," the reform of the international financial institutions, the global trade and the strengthening of financial regulations, said a senior Chinese official.At the Pittsburgh summit, leaders of G20 members agreed to take action to address imbalances in the global economy by launching the Framework for Strong, Sustainable and Balanced Growth. The framework committed G20 members to evaluating their national policies to ensure they are collectively consistent with more sustainable and balanced trajectories of growth.President Hu is expected to deliver a speech at the summit to explain China's propositions on the world's major economic and financial issues, such as financial reforms and balanced economic growth, said Chinese officials.The Chinese president has participated in all the previous G20 summits -- the Washington summit in November 2008, the London summit in April 2009 and the Pittsburgh summit last September.The Toronto summit is being held at a time when the world economy is recovering but economic challenges and risks remain, posing threats to healthy growth."The global economy continues to recover faster than anticipated, although at an uneven pace across countries and regions. However, the recent volatility in financial markets reminds us that significant challenges remain and underscores the importance of international cooperation," said G20 finance ministers and central bank governors in a communique when they met in Busan, the Republic of Korea, early this month to prepare for the Toronto summit.At the previous three summits, leaders of G20 members coordinated a global response to the financial and economic crisis, implemented stimulus measures to revive the world economy, and agreed on actions to strengthen financial regulation and the reform of international financial institutions. They also agreed to promote trade and resist protectionism.

BEIJING, Aug. 7 (Xinhua) -- Prosecutors will have to obtain approval from a higher-level prosecutorate before they order arrest warrants for suspects accused of defamation, officials with China's Supreme People's Procuratorate (SPP) announced Saturday.The move came only days after police of Suichang County in Zhejiang Province canceled a warrant for Qiu Ziming, a reporter from the Economic Observer News, who was accused of defamation by a publicly-listed company.The quality of handling criminal cases is the "lifeline" of the work in investigating, supervising and examining police applications to arrest persons implicated in a crime, according to a statement issued by the SPP."To issue low-quality or even incorrect arrest warrants not only violates people's legitimate rights, but also severely undermines the credibility of prosecuting authorities and tarnishes the image of the Communist Party of China and the government," it says.China's Criminal Procedural Law delegated different responsibilities to the three branches of the justice system -- the courts, the prosecutors and the police. Before formally issuing an arrest warrant, prosecutors are required to examine police applications and investigations.In Qiu's case, the reporter had been wanted by the police of Suichang after Zhejiang Kan Specialty Material Co., Ltd. (Kan) accused him of defaming the company by reporting fabricated stories.However, police of Lishui City, which administers Suichang, ordered the county's public security bureau to cancel the warrant for Qiu after a review found the warrant failed to meet statutory requirements.

BEIJING, July 15 (Xinhua) -- China issued an orange alert on Thursday for wave surges, the second highest level warning, forecasting that Typhoon Conson may reach land Friday on the southeast coast of China' s Hainan province.The National Marine Environment Forecast Center warned of a 6-metre wave surge in the middle and the north of the South China Sea from Thursday night through Friday.Meanwhile, warnings were also issued for a possible 5-metre wave surge off the east shore of Hainan province and a 3-metre wave surge off the west shore of Guangdong province and the southern coast of Hainan.The Center also issued a yellow-level alert for a storm surge which might affect Guangdong and Hainan province.The center suggested local governments gear up for a disaster response.Conson is currently wreaking havoc in the Philippines, killing at least 26 people and injuring 14 others as of Thursday.