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LJUBLJANA, Aug. 26 (Xinhua) -- Chinese Vice Premier Hui Liangyu arrived in Slovenia on Wednesday evening on a two-day official visit to boost economic cooperation between the two countries. Hui, who was accompanied by a strong business delegation, will on Thursday hold talks with Slovenian Prime Minister Borut Pahor, President Danilo Tuerk, Parliament Speaker Pavel Gantar and Foreign Minister Samuel Zbogar. These talks are expected to focus on the boosting of economic cooperation as well as the world economic crisis. Officials from both countries will sign five documents expectedto strengthen the cooperation in areas of agriculture, small and medium enterprises (SMEs), health care and education. On Thursday afternoon Hui and Pahor will attend and address a plenary session of the Chinese-Slovenian business forum. According to the Slovenian Chamber of Commerce and Industry, the business forum will be attended by representatives of 60 Chinese companies from the fields of construction, engineering, telecommunications, electronics, trade, as well as textile, chemical, food and banking industries. Slovenia is the first leg of Hui's three-nation visit, which will also take him to Lithuania and Latvia. Hui will also attend the third World Climate Conference, which is scheduled to be held in Geneva, Switzerland from Aug. 31 to Sept. 4.
BEIJING, June 29 -- Chinese listed banks, which have lent record high amounts in the first half, are likely to report lower profit growth in the period due to narrowing interest spreads and higher provisioning requirements, industry analysts said. "We are expecting a 7 to 8 percent year-on-year profit fall among the 14 listed banks in the first half-year," said Wang Liwen, banking analyst with Shanghai-based Guotai Junan Securities Co, citing stretched interest spreads as the major reason. In 2008, the net interest rate spread for banks ranged from 2.45 percentage points to 3.62 percentage points, with the average figure hovering around 3 percentage points. This year, as the government cut interest rates several times to spur economic growth amid the global financial crisis, the net interest rate spread is expected to be lower, at around 2.36 percentage points. Clients walk into the Suzhou branch of Bank of Ningbo in Suzhou, east China's Jiangsu Province, March 27, 2009.The bank, the first listed lender to file a mid-term report, said its first-half profits would drop nearly 5 percent from a year earlier "A drop of 0.7 percentage points in the average net interest rate spread could mean some 7-billion-yuan decrease in the interest yield for each trillion yuan of new loans," said Wang. Chinese banks extended a record 7.37 trillion yuan of new loans in the first half, triple the amount offered in the same period a year earlier and 47 percent more than the government's full-year target, after lending restrictions were eased in November to stem an economic slowdown. However, most securities firms' reports said the country's 14 listed banks might post an average profit decrease ranging from 6 percent to 10 percent year-on-year in the first six months. According to Wind Info, a financial data provider, the 14 listed banks reported a net profit of 232.7 billion yuan in the first half of 2008, an increase of 73 percent year-on-year. But this year, the net profit could probably stand at 210 billion yuan, down 10 percent on a yearly basis. Bank of Ningbo, for instance, on July 14 announced no more than a 5-percent decease in net profit in its pre-released semi-annual report to the Shenzhen bourse. It is the first Chinese listed bank to report a profit fall in the first half. Wang Yifeng, an analyst at TX Investment Consulting, said the improved provision coverage ratio requirement might also cripple profits at listed banks. To prevent potential risks arising from the lending spree, China Banking Regulatory Commission raised the minimum provision coverage ratio requirement to 150 percent from 130 percent earlier this year. "The increase will mainly eat into the profits of several large State-controlled banks as they are still not up to the new requirements," said Wang. But as the squeezed spreads bottom out in the second half, most analysts said listed banks would still post positive growth for the whole year. "Thanks to the widened interest rate spreads and lower loan cost in the following months, we are expecting a 10-percent growth in profits overall this year," said Liu Yinghua, an analyst with Shenzhen-based Ping An Securities.
BEIJING, July 21 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday called for efforts to intensify energy conservation, emission reduction and environmental protection to ensure clean, safe and sustainable development. Li made the comment at a meeting in Beijing on Tuesday, urging efforts on development of green industry and sustainable economy. He said environmental protection should be strengthened as the environmental problems in China are still severe, such as the water, air and soil pollution. Li said China's economy is still at a critical moment as it begins to recover steadily. It is also a crucial time for its economic structure adjustment, he added. He said the government should maintain sustainable and stable macroeconomic policies
BUDAPEST, Oct. 16 (Xinhua) -- Visiting Chinese Vice President Xi Jinping met here Friday with Hungarian President Solyom Laszlo, and put forward a four-point proposal to help further bilateral relations. The Chinese vice-president proposed to maintain high-level contacts aimed at cementing friendship, to enhance economic cooperation and investment aimed at balancing trade, to improve personnel exchanges aimed at furthering understanding, and to join hands in promoting a healthy development of China-European Union relations. Hungarian President Solyom Laszlo (R) meets with visiting Chinese Vice President Xi Jinping in Budapest, capital of Hungary, Oct. 16, 2009 "No matter what changes have taken place in the international arena or in the two countries, China-Hungary relations will develop steadily," Xi said during his talks with Solyom Laszlo. The Chinese vice-president recalled that China and Hungary had deepened political trust, increased trade and mutual investment, and enhanced cultural exchanges in recent years, with a highlight being Chinese President Hu Jintao's visit to Hungary in 2004. Hungarian President Solyom Laszlo (4th R) holds talks with visiting Chinese Vice President Xi Jinping (2nd L) in Budapest, capital of Hungary, Oct. 16, 2009"Experience shows that, as long as the two countries maintain mutual respect, equality and mutual benefit and non-interference in each other's internal affairs, cooperation in all areas will be cemented," Xi added. The Hungarian president said his country would promote cooperation with China on trade, culture, education and environmental protection. Hungary would also play a positive role in improving China-EU relations, he added.
BEIJING, July 24 (Xinhua) -- Chinese President Hu Jintao said Friday that the role of the United Nations should be bolstered in handling the global economic downturn, achieving sustainable development, and safeguarding world peace and security. As a permanent member of the UN Security Council and the largest developing nation, China has always observed the principles of the UN Charter, supported the UN's efforts to improve security, development and human rights and its reform to increase efficiency, Hu said to visiting UN Secretary-General Ban Ki-Moon Hu. "China will continue to join in the UN undertakings and carry out its duties with responsive and constructive attitude, and will work with the international community to build a harmonious world," Hu said. Chinese President Hu Jintao (R) meets with UN Secretary-General Ban Ki-Moon in Beijing, China, July 24, 2009. Ban Ki-Moon praised China's achievement in economic and social progress, as well as its contribution to overcoming world economic recession, food crisis and climate change. Also on Friday afternoon, Ban presented at a seminar of senior Chinese officials who have taken part in UN workshops on advanced leadership, a capacity building program established in 2005. Ban asked the officials, who came from various ministries, banks and state-owned companies, to put their knowledge learned in the workshops into practice. He stressed the importance of tackling the international financial crisis and climate change with joint efforts from the international community, and suggested China establish a low-carbon economy. Li Yuanchao, head of the Organization Department of the Communist Party of China Central Committee, lauded the UN workshops, and asked the world community to support the Chinese government's strive for harmony, pledging to enhance cooperation with the United Nations Development Program. Chinese Foreign Minister Yang Jiechi also met with Ban on Friday. Ban arrived in Beijing Thursday evening to have a four-day China trip with climate change atop his agenda. Ban will travel on Saturday to northwestern city of Xi'an, an ancient Chinese capital, to continue his China tour.