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BEIJING, April 12 (Xinhua) -- China Pacific Insurance, one of the country's largest insurers, announced Saturday that its net profit dropped 80.6 percent to 1.339 billion yuan (196 million U.S. dollars) in 2008.     The Shanghai-based insurer attributed the profit decrease to the sluggish stock market performance and the large amount of insurance indemnity after several natural disasters last year.     However, the premium income of the company rose 26.6 percent to94.02 billion yuan, said the firm in its 2008 annual report.     Its life insurance premium income increased 30.4 percent to 66.09 billion yuan last year, ranking the third in the domestic market. Its property insurance premium rose 18.7 percent to 27.88 billion yuan, making it the second largest among its peers.

BEIJING, April 14 (Xinhua) -- China's top political advisor Jia Qinglin on Tuesday called for increased efforts of democratic parties and the All-China Federation of Industry and Commerce to promote the development of a poverty-stricken city in southwest China.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the call at a working conference on supporting the construction of Bijie, a city in Guizhou Province.     Bijie was approved by the State Council, China's cabinet, in 1988 as a trial zone featuring ecological environment protection and construction, development and poverty-alleviation.     Jia said the significant economic and social achievement made in Bijie over the past 20 years exemplifies the enormous advantages of the political system of multi-party cooperation and the political consultation system under the leadership of the Communist Party of China (CPC).     Jia outlined three major tasks for Bijie's future development: development and poverty alleviation, ecological construction and population control must be firmly grasped.     He also called for efforts to explore new ways to develop the region.     Efforts should be made to pursue leap-forward development in both economy and society in the region, he said.     In the same meeting, Du Qinglin, head of the United Front Work Department of the CPC Central Committee, said the construction of Bijie trial zone had made significant phase achievements.     The region, where the poor once struggled to have adequate food and clothing, was on its way to becoming a place where the people can generally lead a well-off life, he said.     Over the past two decades, people from the democratic parties offered enormous support to develop the hilly hinterland region that is home to more than 20 ethnic minorities.     They helped to contribute to local education programs, training of migrant workers, building local medical institutions, constructing hydropower stations and helped tackle prevailing ecological problems including desertification.     The CPPCC is a patriotic united front organization of the Chinese people, serving as a key mechanism for multi-party cooperation and political consultation under the leadership of the CPC, and a major manifestation of socialist democracy.

BEIJING, Feb. 9 (Xinhua) -- Chinese equities continued gains on Monday from last week's trading and advanced to a four-month high since late September as signs of an economic recovery, a raft of stimulus plans and a rally in the U.S. stock market boosted confidence, said analysts.     The government rolled out plans to revive the textile industry and machinery manufacturing industry last week after auto and steel stimulus packages. Measures to support the shipping industry, the non-ferrous metal industry and others are yet to come.     These efforts helped buoyed market confidence, said analysts. The country's economy was resilient and posted signs of recovery, partially because of the economic stimulus plans as the Purchasing Managers' Index (PMI) of the manufacturing sector released on Feb.4 rose to 45.3 in January from 41.2 in December.     The Shanghai A-share index rose 43.47 points, or 1.99 percent, to close at 2,224.71, and the Shenzhen Component Index posted a bigger rise of 4.06 percent, or 315.79 points, to 8,087.69.     Combined turnover climbed to a nearly nine-month high at 235.5 billion yuan (34.5 billion U.S. dollars), up from the 189.6 billion yuan from the previous trading day.     Gains outnumber losses by 841 to 29 in Shanghai and 713 to 34 in Shenzhen.     Non-ferrous metal rose across the board boosted by rising metal prices. Shanghai copper surged by its daily limit of 5 percent, or1,400 yuan per tonne to 29,510 yuan per tonne. Shanghai aluminum rose 3.56 percent to 12,225 yuan per tonne. Their gains also lifted other base metals.     Aluminum Corporation of China, the country's largest aluminum producer, advanced by the daily limit of 10 percent to end at 9.56yuan. Yunnan copper, China's third largest smelter of the metal, rose by the daily limit of 10 percent to 13.07 yuan. Liaoning-based Huludao Zinc Industry also gained by the daily limit of 10 percent to 4.16 yuan.     China Cosco Holdings Co. surged by the daily limit of 10 percent to 10.74 yuan after the Baltic Dry Index, a gauge of commodity shipping costs, posted a strong rise of 53 percent over last week. China Shipping Container Lines Company moved up 6.49 percent to 3.34 yuan.

BEIJING, April 11 (Xinhua) -- China's foreign exchange reserves rose 16 percent year-on-year to 1.9537 trillion U.S. dollars by the end of March, said the People's Bank of China on Saturday.     It represents an increase of 7.7 billion dollars for the first quarter, but the increase was 146.2 billion dollars lower than the same period of last year.     Outstanding foreign currency loans stood at 235.2 billion U.S. dollars by the end of March, down 11.7 percent year on year.     In the first quarter, foreign currency loans dropped by 8.5 billion U.S. dollars. The decline was 57.3 billion U.S. dollars heavier over the same period of last year.     In March, foreign currency loans rose by 4.3 billion U.S. dollars. The increase was 6.4 billion U.S. dollars lower than the same period of last year.     Meanwhile, outstanding foreign currency deposits rose 28.9 percent, or 7.5 billion U.S. dollars, to 200.3 billion U.S. dollars in the first quarter. The increase was 13 billion U.S. dollars higher over the same period of last year.     In March alone, foreign currency deposits rose by 3.3 billion U.S. dollars. The increase was 1.8 billion U.S. dollars higher over the same month in 2008.     Analysts said the smaller growth of foreign exchange reserves in the first quarter was related with changes in the value of non-U.S.-dollar assets and money flows under the capital account.     In March alone, the foreign exchange reserves rose by 41.7 billion U.S. dollars. The increase was 6.7 billion U.S. dollars higher than the corresponding period of last year.     The country's foreign exchange reserves reduced to 1.914 trillion U.S. dollars at the end of January and 1.912 trillion U.S. dollars at the end of February.     "Changes of foreign exchange reserves in the first quarter were mainly driven by non-U.S.-dollar assets' volatile fluctuation," said Liu Yuhui, an economist with Chinese Academy of Social Sciences (CASS).     During the first quarter, especially the first two months, non-dollar foreign currencies dropped heavily against the U.S. dollar, leaving about 40 percent of the country's non-dollar assets depreciated.     Meanwhile, the country's trade surplus had reduced during the first quarter due to a weakening external demand.     Exports fell 17.5 percent in January, 25.7 percent in February and 17.1 percent in March. In February, trade surplus plummeted by34.3 billion U.S. dollars to 4.8 billion.     "The 7.7-billion-dollar increase in foreign exchange reserves for the first quarter showed the country's economy still depends heavily on external demand," said Mei Xinyu, an economist with the Ministry of Commerce (MOC).     Yuan Gangming, a researcher with the CASS, said the smaller increase in foreign exchange reserves might also be caused by capital flight.     Official statistics show during the first two months, the actually-utilized foreign direct investment dropped by 26.2 percent.     A large proportion of the country's foreign exchange reserves are invested in U.S. treasuries and notes. Last month, the U.S. Federal Reserve announced a plan to buy up to 300 billion U.S. dollars in long-term treasuries. That added to worries in the value stability of the country's foreign exchange reserves.     Mei said the slower growth in foreign exchange reserves could be conducive to the national economic security because less capital would be exposed to devaluation risks.     "The top priority should be to keep the value of foreign exchange reserves stable," said Yuan. He suggested relevant authorities should keep a close eye on flows of foreign reserves and prevent a similar capital flight that happened after the Asian financial crisis.

BEIJING, April 2 (Xinhua) -- Chinese Vice Premier Zhang Dejiang Thursday warned the need to find jobs for college graduates was "crucial".     "The employment situation of college graduates remains grave," he told a video conference held by the State Council, the Cabinet.     More than 6 million college students were leaving school in just three months and the employment rate was generally lower than previous years, Zhang said without elaborating.     China has 6.11 million college students due to graduate this year, and 1 million from last year are still looking for jobs, according to the Ministry of Human Resources and Social Security.     Graduates are having a hard time finding jobs this year as posts are being axed due to the economic slowdown.     Zhang urged government organs, government-sponsored institutions, and state-owned enterprises to hire as many people as last year, and small and medium-sized and private companies to employ college graduates.     The State Council unveiled in February a series of measures to boost employment of college graduates, calling on them to be more flexible.     The measures included encouraging graduates to work in rural areas, in grassroots urban communities, and in smaller enterprises, asking research institutions to recruit graduates, and stepping up support for graduates starting up their own businesses.     Zhang asked local government departments to work out detailed and feasible measures and make efforts to publicize the measures this month.     Government departments and higher learning institutions should provide comprehensive services to graduates by offering advice, giving aid to the poor, and maintaining a sound employment market, he said.

来源：资阳报