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BEIJING, Aug. 30 (Xinhua) -- The country's top 500 giants are narrowing gap with foreign counterparts, but they still lag behind, the China Enterprise Confederation announced in its release of the 2008 Top 500 Chinese enterprises list on Saturday.     According to the report, the total revenue of the top 500 Chinese enterprises reached 2.99 trillion U.S. dollars (1 dollar=7.3046 yuan, calculated under the exchange rate in 2007), profits 188.4 billion U.S. dollars and assets 8.17 trillion U.S. dollars.Revenues were equivalent to 12.67 percent of the global top 500, profits equaled 11.85 percent and assets 7.79 percent, compared with 10.7 percent, 6.5 percent and 7.8 percent respectively last year.     Analysts said the growing proportion of revenue and profits indicated that Chinese companies had become more competitive and profitable.     Confederation deputy president Li Jianming said the country's growing economy had benefited these enterprises in spite of price hikes for oil and other materials.     He also said private enterprises had grown more robust and capable of taking in advanced technology and management from world giants. They accounted for about a fifth of the country's top 500 enterprises.     In addition, their rising investment in research and development and their emphasis on exploring the domestic market increased competition. The growth rate of net profits of the country's top 500 was 19 times faster than that of the world's top500.     However, another confederation deputy president Wang Jiming said Chinese enterprises still fell behind in innovation, investment in research and development, and the ability to operate internationally. It would take a long time to catch up.     Only 39 enterprises reported overseas sales income of more than 30 percent of the total revenue. Research and development spending accounted for only 1.32 percent of their total revenue, compared with the international average of 3 percent to 5 percent.     Poor supply chain management also lagged behind. Logistics coststill accounted for much of the total output, twice that of the world average. Haier and Huawei were among the few enterprises that paid adequate attention to supply chain management.     Sinopec Corp, Asia's top oil refiner, retained top spot for the fourth straight year on the Top 500 Chinese Enterprises list with its business revenue exceeding 1.2 trillion yuan, (175.2 billion U.S. dollars), the China Enterprise Confederation (CEC) said on Saturday.     The oil giant was followed by the State Grid and PetroChina Company.     The top 500 companies paid taxes of 1.74 trillion yuan, accounting for 35.2 percent of the national tax revenue.     Baosteel Group Co. and China FAW Corporation and Hongfujin Precision Industry (Shenzhen) Co. held the top three positions in manufacturing sector.     The State Grid Corp. of China, the Industrial and Commercial Bank of China and China Mobile ranked the top three in the service sector.

NEW DELHI, Sept. 9 (Xinhua) -- China-India relationship stands at a new starting point, the two should view and approach relations from a strategic and long-term perspective and keep moving forward their partnership to benefit the two countries and peoples, visiting Chinese Foreign Minister Yang Jiechi said here Tuesday.     He made the remarks in his speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies. Chinese Foreign Minister Yang Jiechi delivers a speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies in New Delhi, India, Sept. 9, 2008Yang said China and India are the two biggest developing countries in the world. He quoted Chinese President Hu Jintao as saying that China-India friendship not only serves the interest of both countries but also benefits Asia and the world at large.     He said there is no conflict of fundamental interests between China and India. "What we have are broad common interests. We are partners, not rivals. There is a lot that we can do together to further our friendship and cooperation. We should view and approach our relations from a strategic and long-term perspective and keep moving forward our partnership in the new century to the benefit of our two countries and peoples."     To this end, he proposed that efforts are needed to be step up in the five areas between the two countries: increase exchanges and enhance strategic mutual trust, boost economic cooperation and trade for win-win progress, expand people-to-people and cultural exchanges, strengthen cooperation in multilateral for a to uphold common interests, address each other's concerns and properly handle differences.     "Today, our relations stand at a new starting point. Without friendly relations and mutually beneficial cooperation between China and India, there would be no development and prosperity of our respective countries, no harmony and rejuvenation of Asia, and no peace and progress of the world," he said.     Yang arrived in India last Sunday. He attended the inauguration ceremony of China's consulate-general in Kolkata, the capital of West Bengal, met and reached agreement with the West Bengal's Governor and Chief Minister on ways to deepen friendly and multi-faceted cooperation between China and West Bengal.     He called upon Indian Prime Minister Manmohan Singh and held talks with Indian External Affairs Minister Pranab Mukherjee in Delhi Monday. The two sides had an in-depth exchange of views and reached broad agreement on ways to further implement the common understanding reached by leaders of both countries and deepen the China-India strategic and cooperative partnership as well as issues of mutual interest.

UNITED NATIONS, Sept. 25 (Xinhua) -- Chinese Premier Wen Jiabao Thursday urged the international community, especially developed nations, to speed up intensive efforts to realize the Millennium Development Goals (MDGs).     CHINA'S CONTRIBUTION     Wen made the calls in his address to the UN high-level event on the MDGs. He told the meeting China has honored its commitments to the MDGs by dramatically reducing the number of Chinese living in poverty and by providing assistance to least developed countries.     China, the most populous country in the world, has accelerated development mainly through its own efforts and through reform and opening-up since 1978, and has "brought down the number of people in absolute poverty from 250 million to 15 million in less than 30 years," he said.     The nation's free compulsory education, medical care for 800 million farmers, and governance at various levels have all witnessed substantial progress, the Chinese premier said. Chinese Premier Wen Jiabao delivers a speech at the United Nations high-level meeting on the Millennium Development Goals (MDGs) in New York, the United States, Sept. 25, 2008    The vision set out in the UN Millennium Declaration is being gradually turned into reality in China, he added.     "Statistics released by the World Bank last year showed that over the past 25 years, China accounted for 67 percent of the achievements in global poverty reduction," Wen said.     Though not rich, China has honored its commitments to the Millennium Declaration and done what it can to help some least developed countries, he noted.     By the end of June 2008, China had written off 24.7 billion RMB(3.63 billion U.S. dollars) in debts owed by 49 heavily indebted poor countries and least developed countries in Asia and Africa. It has also provided 206.5 billion RMB (30.37 billion dollars) in various forms of assistance to such countries, of which 90.8 billion RMB (13.35 billion dollars) is free aid, Wen said.     China also provided zero-tariff treatment to the goods of 42 least developed countries. It has also trained 15,000 African medical professionals, sent medical teams and provided free medicines to Africa, he added. Chinese Premier Wen Jiabao (front) applauds as he delivers a speech at the United Nations high-level meeting on the Millennium Development Goals (MDGs) in New York, the United States, Sept. 25, 2008JOINT EFFORTS     In his speech, the Chinese premier called for joint efforts from the governments of all countries to realize the goals set out in the Millennium Declaration.     "Counting from today, we have only seven years to go before the end of 2015 to reach the goals" of halving the proportion of people living on less than a dollar a day, and "no more than 12 years before the end of 2020" to significantly improve the lives of at least 100 million slum dwellers, Wen said.     "I hope that we, leaders present today, will join hands to shoulder greater responsibilities as statesmen and pay closer attention to and show more compassion for the poor regions and people in the world," he urged.     Wen emphasized the importance for governments to give top priority to development. The first and foremost development goal should be economic, with educational, cultural and social development also high on the agenda, he added.     He urged respect for the right of all countries to choose their own development paths suited to their national conditions, and called for efforts to resolve regional conflicts and ethnic strife through peaceful means.     On international assistance in eliminating poverty, Wen said developed countries in particular should assume the responsibility of helping underdeveloped countries.     "Assistance should be provided selflessly, with no strings attached. It is particularly important to increase assistance for least developed countries and regions," he said.     Wen proposed that donor countries double their donations to the World Food Programme in the next five years and that the international community do more to cancel or reduce debts owed by least developed countries and provide zero-tariff treatment to their exports.     Efforts should also be made to improve the working mechanisms for the development goals in the Millennium Declaration and coordinate the functions of international organizations to jointly overcome the difficulties facing developing countries, he proposed. Chinese Premier Wen Jiabao (front) applauds as he delivers a speech at the United Nations high-level meeting on the Millennium Development Goals (MDGs) in New York, the United States, Sept. 25, 2008MORE ASSISTANCE FROM CHINA     China will speed up efforts and provide more assistance to needy countries to facilitate the attainment of the MDGs, pledged Wen.     China will contribute 30 million U.S. dollars to the UN Food and Agriculture Organization to establish a trust fund to help developing countries enhance agricultural productivity.     It will also "cancel the outstanding interest-free loans extended to least developed countries that mature before the end of 2008." Ninety-five percent of products from these countries will also enjoy zero-tariff treatment in the Chinese market, the premier said.     China will also increase agricultural technology support and provide more agricultural training opportunities for developing countries, he said.     Over the next five years, developing countries will get 10,000 more scholarships from China, along with some training programs provided exclusively for African teachers. China will also fully staff and equip the hospitals it builds for African countries and help train their medical staff.     Also in the next five years, China will develop 100 small-scale clean energy projects for developing countries, including small hydropower, solar power and bio-gas projects, the premier said.     Wen arrived in New York Tuesday morning for a three-day visit. He attended the annual high-level debate of the UN General Assembly Wednesday as well as Thursday's UN MDGs summit meeting, and held talks with UN Secretary-General Ban Ki-moon and leaders of some countries.

FUZHOU, July 28 (Xinhua) -- Typhoon Fung Wong, the eighth tropical storm to hit China's coast this year, made landfall in the southeastern Fujian Province on Monday, according to the provincial observatory.     The eye of the powerful typhoon landed at Donghan Town of Fuqing City at 10 p.m. with winds of up to 119 km per hour. Vehicles splash through a flooded street in Fuzhou City, capital of southeast China's Fujian Province, July 28, 2008. Typhoon Fung Wong, which was lashing Taiwan on Monday morning, continued to strengthen as it headed toward the southeastern coast of mainland China, according to the observatory of Fujian Province. Though in the eye, Donghan Town saw no rainstorm or strong wind. "Heavy rains and winds are expected after the eye leaves the town," an official with the flood control office of Fuqing City said.     Before the typhoon landed, Fuqing had seen torrential rain with 205 millimeters falling from midnight to 8 p.m. on Monday.     In Puxia County, the power was cut off as 15 electricity transmission lines and 498 transformer stations were damaged. But no casualties were reported.     The typhoon is also likely to bring more heavy rains and strong winds in coastal areas of the province early on Tuesday. The rainfall could exceed 200 millimeters, the meteorologists forecast.     Offshore, winds could increase to force 12, while in the coastal cities, force 7 to 9 winds were expected, according to the latest forecast of the provincial meteorological station.     Torrential rains were forecast to hit the cities of Ningde, Putian and Quanzhou as well as the provincial capital Fuzhou. Boats bump on waves along the coast of Changle, Fuzhou City, capital of southeast China's Fujian Province, July 27, 2008Typhoon Fung Wong lashed Taiwan on Monday morning, affecting the whole island with wind and rain, just a week after tropical storm Kalmaegi killed 19 people and left six others missing on the island.     Fung Wong will be the strongest tropical storm so far this year, and will strike along China's eastern and southern regions with heavy rain and strong winds, according to observatories in Fujian, Guangdong, Zhejiang and Jiangxi provinces.     The authority of the eastern Zhejiang Province has issued an alert on geological hazards in Wenzhou, Lishui and Taizhou cities from Monday midnight till Tuesday.     Under the typhoon's influence, heavy rain will continue till Wednesday in the province.     Zhejiang has evacuated 338,573 people and called back 27,656 fishing boats by late Monday, according to the provincial flood control and drought relief headquarters.