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SAN FRANCISCO, April 20 (Xinhua) -- Apple Inc. on Wednesday reported record second fiscal quarter results that blow out analysts'expectations, citing strong demands for its products.For its fiscal 2011 second quarter ended on March 26, Apple posted net income of 5.99 billion U.S dollars or 6.4 dollars per share, compared with 3.07 billion, or 3.33 dollars per share a year ago. Its revenue reached 24.67 billion dollars, compare with 13.5 billion in the same period a year earlier.Analysts polled by Thomson Reuters gave an average estimate of 5.35 dollars earning per share on revenue of 23.3 billion."With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," said Steve Jobs, Apple's CEO. "We will continue to innovate on all fronts throughout the remainder of the year."As the most valuable business for the company, Apple sold 18.65 million iPhones in the second quarter, representing 113 percent unit growth over the year-ago quarter. In February, Apple announced that iPhone4 would come on Verizon network, enabling it to attract some 90 million Verizon subscribers to adopt the popular smartphone.The company sold 3.76 million Macs during the quarter, a 28 percent increase over the year-ago quarter, and 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter.The company also sold 4.69 million iPads during the quarter, which is below analysts' projection. Analysts said Apple could have sold more tablets without supply constraints.Wall Street analysts estimated sales of iPad to reach about 6 million in the fiscal second quarter, alongside about 16 million iPhones and 3-4 million Macs.Apple also reported a gross margin of 41.4 percent compared to 41.7 percent in the year-ago quarter. Analyst said the decline of Apple's gross margins can be attributed to two reasons. One reason is the introduction of iPad in 2010 as it is a lower gross margin product than the iPhone. The other is the decline of iPhone margins over years.Supply chain related issues have been analysts' concern in the past quarter as Apple indicated in the Q1 earnings conference call that it could have sold more iPhones and faced some supply related issues. Meanwhile, the Japanese earthquake created more supply related issues for the company as its Japanese suppliers Mitsubishi Gas Chemical and Toshiba are both temporarily shut down to assess damage from the natural disaster.For the third fiscal quarter, Apple CFO Peter Oppenheimer gave an estimated revenue of about 23 billion and profit of 5.03 dollars per share.

BEIJING, Feb. 9 (Xinhua) -- China's Ministry of Agriculture on Wednesday urged more measures be taken to minimize the impact of a drought due to the possibility that the winter drought may continue into spring.The country's winter wheat producing regions have suffered severe drought since October last year, and the possibility of spring drought is surfacing, Minister of Agriculture Han Changfu said in a statement posted on the ministry's website.Spring drought following the winter one will be a significant threat to summer grain production, he said.As of Wednesday, the drought had affected about 115.95 million mu (7.73 million hectares) of winter wheat in the country's eight key producing provinces, which account for 42.4 percent of the total winter wheat growing areas in the regions, the statement said.China's main wheat growing regions include the provinces of Shandong, Henan, Hubei, Anhui, Shanxi, Shaanxi, Gansu and Jiangsu.Han urged agricultural authorities to be "fully aware of the extreme significance" of a summer harvest this year and strengthen their efforts to assure a successful harvest.Summer grain and oil production is crucial to easing inflation pressures and stabilizing grain output for the entire year, he said. "To have a summer harvest, the current pressing job is to protect winter wheat from drought," he said.There are currently positive factors for a summer harvest, including an adequacy of water for spring irrigation, according to Han.He ordered local agricultural officials to work to stabilize spring planting areas and ensure that the areas for grain planting will be equal to that of last year.Local agricultural officials were also asked to strengthen supervision over market supplies of agricultural materials to keep prices stable.Also on Wednesday, the State Council, or the nation's cabinet, pledged to boost grain production by raising minimum purchase prices of grain, subsidizing the purchase of anti-drought technologies and adding funding for farm irrigation.

BEIJING, Feb. 14 (Xinhua) -- Chinese President Hu Jintao met with delegates from the national Party building society here Monday.Vice president Xi Jinping and He Guoqiang, secretary of the Central Commission for Discipline Inspection (CCDI) of the Communist Party of China (CPC), were also present at the occasion in the Great Hall of the People.The delegates were here to attend the fifth national congress of the national Party building society which was established in 1992.Addressing the meeting Monday, Li Yuanchao, head of the Organization Department of the CPC Central Committee, called on all the party building research staff to keep focusing on their study and be innovative in thinking about party building theory so as to strengthen party building in a more scientific way.The society revised its constitution and re-elected members of its council at Monday's meeting.

BEIJING, Jan. 25 (Xinhua) -- The central parity rate of yuan, the Chinese currency, Tuesday gained 2 points to 6.5881 against the U.S. dollar, according to the China Foreign Exchange Trading System.China's central bank announced in June 2010 it would further reform the exchange rate formation mechanism to improve its flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

SHANGHAI, Feb. 19 (Xinhua) -- Shanghai and several other Chinese cities have moved to restrict home purchases in a bid to deflate bubbles in the real estate market.The rules, which were revealed by Shanghai's Housing Guarantee and Administration Bureau on Saturday, prohibits new home purchases from locally-registered families who have owned two or more homes and non-local registered families who have owned at least one home.Additionally, non-Shanghai registered families who have no documents certifying they have paid for social security or income tax in the city for one year are banned from buying property.Sales of commercial homes fell 42.4 percent year on year in Shanghai in 2010 as earlier measures to curb the speculative demand in the real estate market took effect.Despite the fall in sales volume, the average price of new commercial homes rose by 7.6 percent to 20,995 yuan (3,200 U.S. dollars) per square meter last year.On the same day, authorities in the eastern city of Nanjing and the northeastern city of Harbin rolled out similar purchase restrictions.On Wednesday, the Beijing municipal government unveiled even tougher measures to prohibit home purchases from non-local registered families who have no proof of social security or income tax payments in the Chinese capital for five straight years.The purchase limits came after the State Council, China's Cabinet, ordered late last month that cities where home prices are skyrocketing must implement strict measures to restrict home purchases over a period of time.The State Council also said that local governments will be responsible for the stable and healthy growth of property markets and are required to publicize, before the end of March, the annual "controlled" price targets for new homes.China has implemented a series of measures since last year, which includes higher down payment and lending rates, and bans on mortgage loans for third homes, to rein in the rapid rise in housing prices.Soaring prices have become a major concern for urban Chinese residents as more homes turn unaffordable. In fact, home prices in some major cities such as Beijing have more than doubled over the past two years.