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BEIJING, March 30 (Xinhua) -- Aluminum Corporation of China Ltd. (Chalco), reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008, due to product price fluctuations on the international market, the company's annual report revealed Monday.     "The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement.     The shock from the financial crisis, rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement.     Chalco's business turnover reached 76.73 billion yuan, down 9.94 percent from last year, largely because of a decline in product prices, said a statement submitted to the Shanghai Stock Exchange.     The price of alumina, a major type of aluminum product, which at one point reached 4,500 yuan per tonne in the domestic market in 2008, dropped to 1,900 yuan per tonne as demand shrank drastically because of the financial crisis, said the statement.     Board chairman Luo Jianchuan said the company should actively cope with the problem, which would persist in 2009. Measures should be taken to cut cost, control investment, and maintain stable production.     Though estimated to suffer losses in the first quarter this year, Chalco was confident it would "get over the difficulties and have a bright prospect," said Luo.     Share prices of Chalco on Shanghai Stock Exchange plunged more than 4 percent to 10.46 yuan Monday morning.     Aluminum Corporation of China (Chinalco), Chalco's parent company, had obtained support from four Chinese banks, including the Bank of China (BOC), to finance its bid for the world's third largest miner Rio Tinto.     They have signed agreements to provide 21 billion U.S. dollars worth of syndicated loans to support the bid.

CARTAGENA, Colombia, Feb. 15 (Xinhua) -- Visiting Chinese Vice President Xi Jinping Sunday held talks with Colombian President Alvaro Uribe in the northern Colombian port city of Cartagena.     Xi first transferred the sincere regards of Chinese President Hu Jintao and Premier Wen Jiabao to Uribe, and expressed his thanks to Uribe for specially coming here to meet the Chinese delegation. Visiting Chinese Vice President Xi Jinping meets with Colombian President Alvaro Uribe in Cartagena, a port city of Colombia, on Feb. 15, 2009Xi said the two peoples have enjoyed long friendship, which is deep-rooted in their hearts, despite the long distance between the two countries.     He mentioned Uribe's visit to the Chinese embassy last May to mourn the victims in the devastating quake in Sichuan province in southwestern China, and the Colombian government's statement to express its condolences to the victims.     He also said that after Colombia was struck by severe floods not long ago, the Chinese government provided aid to the South American country. Visiting Chinese Vice President Xi Jinping meets with Colombian President Alvaro Uribe in Cartagena, a port city of Colombia, on Feb. 15, 2009These moves reflected the deep friendship between the two peoples, said Xi, who arrived in Colombia Saturday for a three-day visit.     He said bilateral relations have made great headway in recent years under the care of the two countries' leaders.     In November, President Hu reached consensus with Uribe on deepening bilateral sincere and friendly political ties, strengthening mutually beneficial, win-win and practical cooperation, increasing civil exchanges, and boosting multilateral coordination and cooperation, Xi said.     The consensus is the principle and direction for the development of bilateral ties in the following period of time, he added.     Xi said next year will mark the 30th anniversary of the establishment of bilateral diplomatic relations, and bilateral ties will enter a mature period that enjoys full-scale development.     He said both sides should seize this opportunity to fully implement the consensus reached by the two countries' leaders and focus on the work in the following four fields:     -- to increase mutual trust in political affairs, deepen their sincere friendship, and care each other's concerns;     -- to make use of the advantage of mutual complementarity, expand bilateral trade, and promote trade balance;     -- to broaden cooperation fields, actively explore new fields and ways for mutually beneficial cooperation, and meet the new demands of common development;     -- to encourage investment and cooperation in various forms and promote the level of bilateral practical cooperation, with the Chinese government encouraging and supporting Chinese companies to carry out trade, economic and investment activities in Colombia.     For his part, Uribe asked Xi to convey the Colombian people's greetings to President Hu and the Chinese people.     Colombia attaches great importance to its relations with China and has always cherished friendly feelings for China, he said, adding that the Colombian government and people have very much looked forward to Xi's visit and are satisfied with the growth of bilateral relations in recent years.     Uribe recalled last year's signing of the bilateral investment protection agreement which he and President Hu had witnessed, saying it is a notable sign of the development of cooperation between Colombia and China.     Uribe expressed gratitude to the Chinese government for its assistance to Colombia and voiced appreciation for China's accession into the Inter-American Development Bank, which he believes will help strengthen Colombia-China relations.     Chinese enterprises are warmly welcomed to invest in and trade with Colombia, which has rich natural resources and a steadily-growing economy, he said.     Noting that Colombia is impressed by the efforts China made to cope with the global financial crisis and stimulate economic growth, Uribe expressed his belief that China is an engine of the world economy and its development and growth pace are key to a quick recovery of the world economy from the financial crisis.     Colombia stands ready to broaden its cooperation with China and push their relationship to new heights, he said.     Colombia is the third leg of Xi's six-nation tour. He has already visited Mexico and Jamaica and will also visit Venezuela, Brazil and Malta.

BEIJING, Feb. 24 (Xinhua) -- Chinese President Hu Jintao has called for greater awareness of both hardships and opportunities presented by the global financial crisis in order to offset the impacts of the crisis.     In a speech to the Communist Party of China (CPC) Central Committee Political Bureau on Tuesday, Hu said China must be prepared for the most difficult and complicated situations in the world economy and meanwhile make good use of or create development opportunities amid the transformation of international and domestic conditions.     The world economic situation was austere and complicated; the global financial crisis had yet to level out; and China's economic growth was under pressure of a slow-down, he said.     He said no fundamental changes had occurred in the country's basic economic development situation, its advantageous conditions for economic development, its accelerating trend of industrialization and urbanization, and the external environment of peace, development and cooperation.     "The strong Party leadership, the advantages of the socialist system, and the united efforts of our people of all ethnic groups are the strength for us to overcome the difficulties and withstand the impacts of the global financial crisis," he said.     The government should maintain the policy of giving top priority to increasing domestic demand while stabilizing external demand, he said.     He called for more powerful and efficient measures to increase domestic demand, consumer demand in particular.     He urged continuing to make the reform and opening-up a powerful driving force for economic growth, actively pushing forward reform in key areas and links.     Hu urged all Party committees and governments to deepen the implementation of the "scientific view of development" and "carry out the decisions and arrangements of the central authorities in a creative way".     Hu, General Secretary of the CPC Central Committee, presided over Tuesday's panel study of the Politburo, at which two scholars explained world economic situation and ways to boost economic growth.     The lecturers were Zhao Jinping, of the State Council's Development Research Center, and Bi Jiyao, of the Macro-economic Research Institute under the National Development and Reform and Commission.

PORT LOUIS, Feb. 16 (Xinhua) -- Chinese President Hu Jintao arrived Monday in Port Louis, the capital of Mauritius, for a state visit aimed at enhancing bilateral friendship and cooperation.     He was greeted at the airport by Mauritian Prime Minister Navinchandra Ramgoolam. Chinese President Hu Jintao (L Front) shakes hands with Mauritian Prime Minister Navinchandra Ramgoolam greeting him upon his arrival in Port Louis for a state visit Feb. 16, 2009. "The China-Mauritius relationship has become a model of solidarity and cooperation between two developing countries," Hu said in a statement released upon his arrival.     The two countries have carried out fruitful cooperation in such fields as economy, trade, culture, education and tourism since they forged diplomatic ties in 1972, Hu said. Chinese President Hu Jintao (L Front), accompanied by Mauritian Prime Minister Navinchandra Ramgoolam (R Front), inpsects the honor guard upon his arrival in Port Louis for a state visit Feb. 16, 2009His visit will enhance mutual understanding and trust, deepen the traditional friendship and promote mutually beneficial cooperation between China and Mauritius, said the Chinese president.     It will also help take China-Mauritius relations to a new high, Hu added. Chinese President Hu Jintao (R Front), accompanied by Mauritian Prime Minister Navinchandra Ramgoolam (L), inpsects the honor guard upon his arrival in Port Louis for a state visit Feb. 16, 2009. During the visit, the last leg of his five-nation "journey of friendship and cooperation," Hu is expected to meet with Mauritian President Anerood Jugnauth and hold talks with Ramgoolam.     The two countries will sign a number of cooperation documents during Hu's two-day visit.     Hu flew into Port Louis from Dar es Salaam, after paying a state visit to Tanzania. He earlier visited Saudi Arabia, Mali and Senegal.

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