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HANGZHOU, Sept. 24 (Xinhua) -- He Hongwei, a college graduate living in central eastern China's Zhejiang Province, five years ago fussed over landing a decent job amid red-hot competition in the world' s most crowded job market.He then began selling novelty toys on the Internet. Five years on, he has grown into a billionaire and today is busy seeking employees to work in his own factory."I never thought I would make my fortune on the Internet, starting from scratch," the 35-year-old He said.Several years ago, e-shopping was only a "shelter" for many young Chinese who turned to the Internet marketplace to make their living after failing to find decent jobs offline. Most of them earned only paper-thin profits, as e-commerce in China then was still in its infancy.He's story, however, reflected a trend that e-business in China was no longer merely a way of survival, but has become an incubator for the newly-rich who had not expected they could make their fortunes online.According to a report released by Alibaba.com earlier this month, China's largest Nasdaq-listed e-commerce company, some 77 million Chinese individuals and businesses have opened E-shops as of the end of this June.Further, the number of e-shoppers has reached 142 million, or one-third of the nation's total online population.Retail sales at e-shops more than tripled between 2007 and 2009, much faster than the 18 percent growth of retail sales in general during the same period. In the first half of this year, retail sales of e-businesses more than doubled to 211.8 billion yuan (31.6 billion U.S. dollars).Booming sales helped entrepreneurs with e-business start-ups live decent lives, as more than 1 million e-shops at Taobao.com, China's largest online marketplace, earn profits of at least 2,000 yuan a month.As their businesses grow larger, more shops reported profits of over 10 million yuan a year. Sheng Zhenzhong, senior analyst with the research center of Taobao.com, declined to disclose how many such shops were listed on Taobao, but said the number is steadily rising.INTEGRITYAs an old Chinese saying goes, free traders are not bad, which means businessmen should cheat to stay competitive.The old tenet used to work in the early 1980s' when the market economy was initially practiced in China and many businessmen profited from selling shoddy goods.But that could hardly be the case in today's online market, as integrity has become the most important traits for the Internet's commercial success in China.Shi Hongwei is a wholesaler of stockings at Taobao.com. He sells more than 2,000 pairs of socks everyday. For Shi, a young e-shop owner, this is quite a big deal. But, what he cares about most is the rating feedback from his customers.

BEIJING, Oct. 28 (Xinhua) -- Access to debt finance, leading technology and lower cost gave Chinese mining and metals investors an advantage in the global mergers and acquisitions (M&A) market, accounting giant Ernst & Young said Thursday."Competition for mining and metals assets around the world has steadily increased during 2010, with the sector's total deal value as of Sept. 30 growing 87 percent over the same period last year," said Ernst & Young global mining and metals leader Mike Elliott.The firm's statistics show the total value of the world's deals in mining and metals for the year to Sept. 30 reached 78.9 billion U.S. dollars, with the number of deals growing 10 percent year-on-year to 827.For China, the value of mining and metals deals at Sept. 30 has surged 53 percent to 8.9 billion U.S. dollars. Of the 102 transactions, 49 were outbound deals, 40 domestic and 13 inbound."China's outbound M&A investment continues to be driven by the country's need to secure reliable sources of raw materials to support its rapid economic growth and urbanization plans," Ernst & Young China mining and metals leader Peter Markey said."Debt finance in particular has a strong appeal to vendors, given the lack of bank finance available to miners. Bidders able to provide not just equity but also direct or indirect access to debt are very appealing," he said.Similarly, bringing innovative Chinese technology to the deal table, together with access to equipment and supplies which lower operating costs, had proved a winning formula for some successful Chinese acquirers this year, Markey said.

BRUSSELS, Oct. 4 (Xinhua) -- China expected France to take new steps in pushing the European Union (EU) for positive policies toward China, Chinese Premier Wen Jiabao said on Monday.The relations between China and France were of important influence to China's links with the EU, said Wen during a meeting with French President Nicolas Sarkozy on the sidelines of an Asia-Europe Meeting (ASEM) summit in Brussels.China attached great importance to developing ties with France and appreciated France's willingness to enhance cooperation with China, said Wen. Chinese Premier Wen Jiabao (L) meets with French President Nicolas Sarkozy in Brussels, Belgium, Oct. 4, 2010. He hoped the two countries could expand cooperation in such areas as trade, investment, high-tech and energy on the basis of mutual respect and equality.Wen also expected the two sides to conduct close coordination within multilateral mechanisms like the UN and the Group of 20 for building a comprehensive strategic partnership.Sarkozy said China made important contributions to combating the global financial crisis and played a positive role in international affairs. He pledged that France would work with China to jointly advance France-China and EU-China ties.Premier Wen made a five-point proposal on advancing Asia-Europe cooperation when addressing the opening of the ASEM summit.Wen arrived in Brussels for the summit after concluding his visit in Greece earlier in the day. He is also to attend the a China-EU summit in Brussels and then continue his four-nation visit which also will take him to Italy and Turkey.

ATHENS, Oct. 2 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Saturday, kicking off his three-day official visit to Greece.The Greece visit, the first stop of Wen's four-nation Europe tour, is the first by a Chinese premier in 24 years.During his stay, Premier Wen is due to meet Greek President Karolos Papoulias and Parliament Speaker Philippos Petsalnikos and hold talks with Greek Prime Minister George Papandreou before witnessing the signing of a series of deals. Wen will also deliver a speech in the Greek parliament on China-Greece and China-EU relations."Coping with the financial crisis will be an important topic for talks between Wen and Greek leaders. We have a positive attitude about the measures taken by the European Union and the International Monetary Fund," Chinese Vice Foreign Minister Fu Ying said earlier on Wen's Greece visit. Greece's sovereign debt crisis triggered fears of a domino effect across the eurozone earlier this year."We have noticed that the Greek government has adopted measures which have been effective. We hope Greece will recover soon from the difficulties," Fu said.Chinese Ambassador to Greece Luo Linquan said: "Once again, the premier will send a clear signal to the world that China will give a vote of confidence in the economic prospects of Greece and that China is taking practical action to assist Greece and the European Union in overcoming the crisis."The four-nation visit, lasting till Oct. 9, will also take Wen to Belgium, Italy and Turkey. Wen will also attend the 8th Asia-Europe Meeting (ASEM) and the 13th China-European Union (EU) summit in Brussels from Oct. 4 to 6.

BEIJING, Nov. 5 (Xinhua) -- China's Vice Premier, Li Keqiang, said Friday that the population count, the first in 10 years, should be "authentic, accurate and complete", to provide a basis for economic and social development.In a visit to local communities in Beijing, Li said all-out efforts should be enlisted to conduct the census with quality and efficiency.Li noted that some progress has been made, but new problems also emerged as some migrant residents have not been found in their homes.Chinese Vice Premier Li Keqiang (4th R) talks with a resident in the Dongcheng District of Beijing, capital of China, Nov. 5, 2010. Along with census takers, Li visited Beijing residents on Friday to inspect China's ongoing sixth population census.He also said the census has entered a critical phase, and hoped the 6 million census takers could overcome difficulties and carefully carry out the counting."Only by getting a clear picture of the population could we better plan and provide people with equal public services in education, health-care, housing and pension," Li said.On Monday China began the once-in-a-decade population count, with 6 million census takers going door-to-door during the next 10 days to document demographic changes in the world's most populous country.Statistics from this census will be calculated in December and the main results will be released by the end of April 2011.