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BEIJING, July 27 (Xinhua) -- China's largest gold producer said on Tuesday its operating profits rose by three fold to 1.55 billion yuan (228.09 million U.S. dollars) in the first six months this year.China National Gold Group Corp. said in a statement that its first-half revenue grew by 98 percent from a year earlier to 27.67 billion yuan and expected its full-year revenue to reach 50 billion yuan.At the end of June, the gold producer had 1,250 tonnes of gold reserves, eight million tonnes of copper reserves and 1.6 million tonnes of molybdenum, according to the statement.In the first half of 2010, the company added a total of 24.7 tonnes of gold, 683,000 tonnes of copper and 445,000 tonnes of molybdenum to its reserves, said the statement.The company had improved its development strategies through conducting merge and acquisitions, integrating regional resources and exploring overseas, said Sun Zhaoxue, general manager of the gold producer.

BEIJING, June 27 (Xinhua) -- Heavy rainfalls have ended in South China's flood-battered Provinces and water levels of major rivers in Jiangxi and Hunan provinces are receding, according to the State Flood Control and Drought Relief Headquarters (SFDH) Sunday.However, flood prevention work must not slow down since risks remain, said the SFDH.Also, water levels in Jiangxi Province's Ganjiang River and Poyang Lake remain higher than normal warning levels and water in Hunan Province's Dongting Lake is still rising.Persistent heavy rains that have devastated parts of south China had, by Saturday, left 379 dead, and 141 missing, and resulted in economic losses estimated at 82.4 billion yuan, the SFDH said.The torrential rains and ensuing floods have affected 68.7 million people in 22 provincial-level regions along with 4.36 million hectares of farmland, said the headquarters.

MELBOURNE, Australia, June 19 (Xinhua) -- Visiting Chinese Vice President Xi Jinping met with John Brumby, Premier of Victoria state later Saturday.Xi Jinping, who is visiting Australia at the invitation of Prime Minister Kevin Rudd, said his visit aims to enhance mutual trust and friendship, promote extensive exchanges and cooperation and he is to meet Australian leaders and friends of different sectors during the visit.Xi said exchanges and cooperation at state and province level are important to bilateral relations. In recent years, friendly cooperation between Victoria state and China has achieved positive results, especially in trade and education sectors.(Xinhua/Liu Weibing) (ypf)" hspace="0" src="/d/file/p/2010/06/e99cfd599976853f5e524c867d176e88.jpg" border="0" />Chinese Vice President Xi Jinping (R) meets with Australia's Victorian Premier John Brumby in Melbourne, Australia, June 19, 2010. Xi arrived at Melbourne on Saturday afternoon, starting his official visit to Australia, the last leg of his four-nation visitsXi said the Chinese government and relevant provinces and cities in China attach great importance to further exchange and cooperation with the state of Victoria.He said joint efforts can be made in technological cooperation, especially the high technology sector, research and manufacturing of clean energy automobiles. The two sides can make the most of their high level of complementary properties of trade and investment relations and at the same time deepen cooperation in agriculture.People-to-people relations are also important, Xi said, adding that the two sides need to further encourage education and travel by having more university-level exchanges, training, visiting scholar programs, technological and educational cooperation.Xi said this year's Shanghai World Expo, the year of Australian culture in Beijing as well as next year's China year in Australia are providing opportunities for more people-to-people exchanges and links. He said with joint efforts, friendly cooperation between Victoria and China will provide genuine benefits to the peoples.Premier Brumby gave Vice President Xi a warm welcome for making Melbourne the first leg of his visit to Australia. Brumby said, given cooperation in extensive areas, relations between Australia and China enjoy a strong trend. The existing cooperation in energy, resources, mineral, culture, education and travel has been very fruitful.

BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.

LUOYANG, July 11 (Xinhua) -- Chinese President Hu Jintao has stressed economic restructuring, agricultural production and the role of grass-root party organizations during his visit to the city of Luoyang in central Henan province.Hu visited state-owned enterprises, research institutes and talked with local farmers during this trip from Friday through Sunday.At Citic Heavy Industries Co., Ltd., the largest manufacturer of mining machinery in China, Hu learned that the company had shifted focus from manufacturing to research and development. He said innovation is the lifeblood of a company.He also visited a tractor manufacturing plant and a bearing producing company, both enjoying rapid growth thanks to restructuring. Hu asked officials at the two companies to continue with their restructuring and their ongoing expansion through innovation.Hu also visited two research institutes. At China Aviation Lithium Battery Research and Development Center, Hu asked the center to seize the opportunity as the new energy industry is booming and the market demand for lithium batteries is expanding.At another research institute, Hu stressed the role of talent in scientific and technological research.Hu also urged the province to to do a good job in agricultural production this year, as Henan contributes the largest share of crops in China.Hu urged village-level party organizations to serve the interests of farmers while visiting a local village.Hu visited farmers at a corn field and asked about the yields and price of corn. Hu told farmers that supporting grain production is a long-term policy and the state will again boost such support in the future so farmers can earn more and increase their wealth by planting grain.Hu said China would continue to give priority to the development of rural areas, agriculture and farmers during the 12th five year plan, China's development blueprint for the next five years.Hu noted that China's grain yields have increased for 6 consecutive years, and this year the summer yield of grain is another good harvest, despite earlier bad weather.Hu said, however, that Henan, as China's bowl of grain, should take on the responsibility to safeguard the nation's food security and enhance its agricultural production capacity.While visiting a local village, Zhouli village of Mengjin county, Hu requested village-level party organizations to work for the interests of farmers.Hu added that the party organization plays a critical role in improving the standards of living for farmers.Zhouli village was relocated to its present site to make way for a water conservation project in the Yellow River in 1995. Since then, the per capita annual income of local farmers rose from 680 yuan (100 U.S.Dollar) to its current 4,950 yuan now, and farmers now have access to running water, cable TV as well as other public services.Hu said the government would continue providing favorable policies to farmers so they might lead better lives.At the end of his visit, Hu urged continuing efforts to transform the economic growth pattern, adjust the economic structure, increase the amount of indigenous innovation, continue to promote energy conservation, emission reduction and environmental protection as well as reform and opening up.

来源：资阳报