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BEIJING, May 22 (Xinhua) -- Twenty-nine large and medium-sized Chinese steel producers reported 5.18 billion yuan (762.46 million U.S. dollars) in aggregate losses in the first four months, the China Iron and Steel Association (CISA) said here Friday. The 29 producers were among 72 surveyed by CISA, the association's vice chairman, Luo Bingsheng, said. The 72 companies reported 575.59 billion yuan in revenue, down 18.9 percent year on year, Luo said. They paid 15.42 billion yuan in taxes, down 85.07 percent year on year, Luo said. Losses were mainly caused by slumping domestic steel prices, Luo said. Many producers have cut costs, and the production cost of steel dropped 13.75 percent in the first quarter, Luo said.
ZHENGZHOU, June 20 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged economic restructuring to tap the growth potential as the nation copes with the impact of the global downturn. Li made the call during a four-day tour ending Saturday in central China's Henan Province. He said that with the concerted efforts nationwide, China's economy was turning for the better. He nevertheless warned of difficulties ahead citing the complicated world economy and called for confidence and more coping efforts. Visiting local companies, Li urged the remolding and upgrading of traditional industries and the development of new sectors including new energy, environmental protection, new and high-tech and modern services. Li's trip also highlighted the importance of agriculture and encouraged renovation and the development of modern agriculture. Chinese Vice Premier Li Keqiang (R), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks to local residents of Mazhuang village, Qiaobei town, Yuanyang county, central China's Henan Province, June 19, 2009. Li Keqiang made a four-day tour in Henan Province that ended Saturday.

BEIJING, July 13 (Xinhua) -- China's Ministry of Finance announced Monday that the country's fiscal revenue in June rose 19.6 percent year on year to 686.75 billion yuan (100.5 billion U.S. dollars). However, in the first half of this year, fiscal revenue fell 2.4 percent to 3.398 trillion yuan, said the ministry in a statement on its website. The growth rate last month was 14.8 percentage points higher than the growth rate in May. Fiscal revenue fell 9.9 percent in the first four months this year from a year earlier to 2.05 trillion yuan due to shrinking business profits hit by the global economic slowdown and active fiscal policies including tax cuts to buoy domestic economic growth. The ministry attributed the revenue rise in June to the stabilization of overall economic performance, growing business profits and the increase in the cigarette tax. The government announced on June 20 the tax on cigarette cartons costing 70 yuan or more would rise to 56 percent from 45 percent, and the tax on cigarette cartons costing less than 70 yuan would rise from 30 to 36 percent. Sales tax revenues rose 63.1 percent year on year in June, with business tax revenues edging up 6.4 percent, but the ministry did not specify the figures. In June, China's fiscal expenditure increased 21.5 percent to 640.56 billion yuan from a year earlier. From January to June, the figure stood at 2.89 trillion yuan, up 26.3 percent from the same period last year. The government unveiled a 4-trillion-yuan stimulus package in November last year to be spent over the next two years to shore up the world's third largest economy, with 1.18 trillion yuan from the central government. Fiscal revenue includes taxes as well as administrative fees and other government income, such as fines and income from state-owned assets.
BEIJING, July 16 (Xinhua) -- Chinese Vice President Xi Jinping attended Thursday the graduation ceremony of the Party School of the Communist Party of China (CPC) Central Committee and conferred certificates on graduates of the spring semester. Xi, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, is President of the school. Chinese Vice President Xi Jinping attends the graduation ceremony of the Party School of the Communist Party of China (CPC) Central Committee July 16, 2009. The ceremony marked the graduation of 744 Party officials from the Central Party School and more than 2,800 graduates from the school's branches The ceremony marked the graduation of 744 Party officials from the Central Party School and more than 2,800 graduates from the school's branches. Chinese Vice President Xi Jinping confers certificates on graduates of the spring semester of the Party School of the Communist Party of China (CPC) Central Committee July 16, 2009.The Party School of the CPC Central Committee is the highest institution for training high- and middle-ranking party officials and Maxist theoreticians. The School's history dates back to the school of Marxism and Communism set up in March 1933. The graduates said that during the study they had exchanged working experiences with each other and the education had strengthened their political belief. Politburo member and director of the CPC Central Committee Organization Department Li Yuanchao and several other high-ranking party officials also attended the graduation ceremony.
YEKATERINBURG, Russia, June 15 (Xinhua) -- Chinese President Hu Jintao met here Monday night with Indian Prime Minister Manmohan Singh. Hu said China has always striven, steadfastly and from a strategic and long-term perspective, to promote good neighborliness and friendly cooperation with India, an important neighbor of China and also a fast-growing emerging power. The Chinese side is ready to work with the Indian side to maintain the sound momentum for development of the bilateral strategic and cooperative partnership, make greater efforts to implement the "10 strategies" reached between the leaders of the two countries, enhance mutual political trust and reciprocal cooperation in various fields, take into consideration each other's concerns and core interests, and strengthen coordination and cooperation on major international and regional issues, said Hu. Chinese President Hu Jintao (L) meets with Indian Prime Minister Manmohan Singh in Yekaterinburg, Russia, on June 15, 2009 He noted that the two sides should focus on the following key areas in efforts to promote bilateral ties. The first is to strengthen high-level contacts. The Chinese side welcomes Indian President Pratibha Patil to visit China in the latter half of this year, and Chinese leaders are considering visiting India at a time convenient to both sides. The Chinese side agreed in principle to establish a hot line between the Chinese premier and the Indian prime minister. The second is to deepen bilateral economic and trade cooperation of mutual benefit. The two sides should continue to tap potentials, encourage two-way investments, expand cooperation in contracted projects, and strive to realize the target of 60 billion U.S. dollars in bilateral trade in the year 2010. The third is to work together to respond to the impact of the international financial crisis. The Chinese side will strengthen communication and coordination with the Indian side, maintain close cooperation within the frameworks of BRIC, the five developing nations and the Group of 20, safeguard the common interests of the developing countries, and strive to contribute to economic recovery and development of Asia and the world at large. The fourth is to strengthen bilateral defense cooperation which is an important component of overall bilateral cooperation. The two sides should make concerted efforts to strengthen cooperation in this regard. The fifth is to strengthen cultural exchanges. Both sides should make good planning and preparations for a series of activities, such as those marking the 60th anniversary of bilateral diplomatic ties and concerning The Chinese Festival in India and the Indian Festival in China. Both sides will continue to receive each other's delegations consisting of young people, officials, and people from news media and different localities, promote friendly exchanges in various fields and at various levels through visa facilitation and increasing direct air flights. On border issues, Hu expressed the hope that the two sides would continue to advance the negotiating process in the spirit of peace and friendship, equal consultations, mutual respect and mutual accommodation so that the border issues could be properly resolved at an early date. Both sides should do their utmost to ensure that the border issues do not undermine the overall situation of bilateral ties, he said. Before these issues are eventually resolved, both sides should make joint efforts for maintaining peace and tranquility along the border region, he said. With the efforts of both sides, Hu said, the Sino-Indian strategic and cooperative partnership will see sound development and the growth of bilateral relations will bring benefits to the two peoples. Singh said the two countries forged the strategic and cooperative partnership during his tenure as prime minister. Bilateral ties have been deepening, he said. India will give top priority to its relations with China and is committed to advancing bilateral cooperation in various fields on the basis of progress made in the past, he said. He expressed his appreciation for the increasingly important role China is playing in international affairs and China's important contributions to world peace and development. He said China is not a competitor and that there is enough room in the world for the two countries to achieve development. The two countries share the desire to promote their bilateral ties and there are also potentials for them to cooperate on global and regional issues, he added. Singh described economic cooperation as an important "pillar”of the overall bilateral relationship and said enhanced economic ties could give an impetus to the development of bilateral ties. On military-to-military exchanges, Singh said that steady growth in exchanges between the armed forces of the two countries is to enhancing mutual trust and mutual understanding. He also said that India and China share common interests on such issues as global trade and investment, climate change and the reform of the international financial order and should strengthen consultation and cooperation in addressing these issues. On border issues, he said the Indian government is seeking a solution that should be fair, reasonable and acceptable to both sides. Before the issues are finally resolved, efforts should be made to ensure peace and tranquility along the border region, he said. India recognizes the Tibet Autonomous Region as part of the territory of the People's Republic of China and will not allow anyone to carry out anti-China political activities in Indian territory, he said. He said a healthy and stable bilateral relationship serves the interests of the two countries and also conforms to the interests of the region and the world at large. Hu and Singh are here to attend the annual summit of the Shanghai Cooperation Organization (SCO) and the first meeting of BRIC, scheduled to be held in Russia's third largest city Wednesday. Indian is one of the four observers of the SCO, a regional organization now groups China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. The other three observers are Pakistan, Mongolia and Iran. BRIC is an acronym for the four key emerging economies -- Brazil, Russia, India and China. Chinese President Hu Jintao (3rd L) meets with Indian Prime Minister Manmohan Singh (3rd R) in Yekaterinburg, Russia, on June 15, 2009
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