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BEIJING, July 7 -- Chinese state-owned banks, including Industrial & Commercial Bank of China, intend to boost the contribution of the credit card business to their profits as they tap the rising demand to use plastic to pay for purchases.     ICBC, the country's biggest lender, expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million now, Li Weiping, president of the Beijing-based bank's card center, told Shanghai Daily on Saturday in Shanghai. Industrial & Commercial Bank of China Ltd expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million nowThe country's biggest bank, which had earlier planned to boost card number to between 35 million and 38 million, expects to achieve the target, going by the pace of its card issuance in the first half, Li said. The credit card business accounts for about 10 percent of the bank's intermediary business, or fee-based income, and is one of the main contributors.     Chinese banks are shifting from its traditional deposit-lending business as they expand their profit avenues.     ''We expect the contribution (of credit cards to profit) to grow by 2 to 3 percentage points annually,'' Li said.     ICBC is among the country's "big four" state-owned banks to speed up the credit card business while their smaller joint stock rivals have already an edge in the market.     China Merchants Bank, the sixth biggest lender on the Chinese mainland, has one-third share of the credit card market. Other state-owned banks, including Agricultural Bank of China, said they are seeking growth as they pursue prudent risk control.     China Construction Bank expects to break even on its credit card business next year, said Wu Huitao, deputy general manager of the bank's credit card center. CCB targets card numbers at 20 million at the end of this year, from 16 million now, Wu said.     Credit cards will be the most important consumer credit product after mortgages, with profit forecast to reach US.6 billion by 2013, accounting for 22 percent of total consumer credit profits, said New York-based McKinsey & Co.

BEIJING, Aug. 21 (Xinhua) -- China values its friendly ties with Cuba and is willing to work with Cuba to push bilateral relationship to a new height, Chinese Vice Premier Li Keqiang said on Thursday.   Li made the remarks when meeting with Jose Ramon Fernandez Alvarez, vice president of the Cuban Council of Ministers, here on Thursday.     Li said Sino-Cuban relations were at a new stage of development, as the two countries had maintained frequent high-level contact and increased economic cooperation and consultation in international affairs. Chinese Vice Premier Li Keqiang (R) meets with Jose Ramon Fernandez Alvarez, vice president of the Cuban Council of Ministers and also president of the Cuban Olympic Committee, in Beijing, China, Aug. 21, 2008.    Li also congratulated the Cuban guest on the good performance of Cuban athletes at the Olympic Games.     Fernandez, also president of the Cuban Olympic Committee, said Cuba would make new efforts to strengthen relations with China and believed the Games would be a total success.     Li also met on Thursday with Tony Hayward, BP Group chief executive officer. Chinese Vice Premier Li Keqiang (R) meets with Tony Hayward, BP Group chief executive officer, in Beijing, China, Aug. 21, 2008. He said energy was an important resource for economic development and high oil prices had become a cause of concern for many countries.     He said that nations should strengthen dialogue and cooperation to safeguard global energy security.     China would take the scientific development outlook and adopt measures to save resources and reduce emissions, , the vice-premier said, adding China will improve the efficiency of energy consumption to pursue sustainable development.     He hoped BP would expand cooperation with its Chinese partners to achieve a win-win deal.     Hayward said his company would continue to strengthen cooperation with China.

BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.     The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported.     The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.    CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales.     To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan.     PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."

BEIJING, Aug. 27 (Xinhua) -- The Chinese government will stick to an economic policy that focuses on curbing inflation for the rest of the year, a senior official on Wednesday told China's top legislature, as slowing output and rising prices loom over the post-Games economy.     Economic planners would exert themselves to increase supplies of necessities, closely track key prices and make price controls more effective, National Development and Reform Commission deputy chief Zhu Zhixin told the fourth session of the Standing Committee of the 11th National People's Congress.     "A lot of factors can drive prices up," said Zhu. "There is a strong demand for primary products, with prices hovering high on international markets, while more expensive land and labor at home will add to costs."     His statements came after China's main inflation indicator showed a deceleration in July and as the world wondered where the already slowing economy would head after the glitz of the Games.     The consumer price index was up 6.3 percent last month over July last year, lower than the 7.1 percent in June and 7.7 percent in May, as tighter monetary policies adopted last year seemed to bite.     Meanwhile, the country's economic output in the first half was 10.4 percent higher, compared with 10.6 percent in the first quarter and 12.2 percent in the first half last year.     Zhu said the output slowdown was "a moderate correction from a high level".     "The national economy is heading in the direction expected by the macro-control policy."     Zhu cited the pressures on some industries and enterprises as one of the major conflicts in the economy, saying it would take time for the latest supportive policies to show an effect and for companies to adjust.     He told the top legislature the government would continue to seek a balance between fighting inflation and maintaining growth.     Tasks for the rest of the year included improving the contribution of domestic consumption to economic growth, boosting agricultural output and increasing aid to small enterprises, he said.     The government had been focusing on preventing the economy from overheating before changing the goal to "keeping steady, rapid growth" in July.     Many analysts foresaw a loosening of the tight monetary policy to provide liquidity for enterprises, especially exporters, that were squeezed by weakening demand, credit controls and rising costs.     Earlier this month, administrators raised the export tax rebate rates for some textiles and garments, while the central bank allowed more credit to small and medium-sized enterprises.     "The fiscal and monetary policies are likely to be eased, if the current trend is a guide," said CITIC Securities analyst Zhu Jianfang. "The central bank is not expected to come up with any big tightening moves after the Olympics."

BEIJING, April 29 (Xinhua) -- Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, on Tuesday urged Taiwan to work together with the mainland based on four principles: "Building mutual trust, laying aside disputes, seeking consensus and shelving differences, and creating a win-win situation."    He called for substantial efforts for the welfare of Chinese compatriots on both sides, to seek peace across the Taiwan Strait and create a new situation for the peaceful development of cross-strait relations.     Hu made these remarks in a meeting with Lien Chan, honorary chairman of the Kuomintang Party (KMT), his wife and his delegation, at the Diaoyutai State Guesthouse in central Beijing. Hu Jintao (R), general secretary of the Central Committee of the Communist Party of China, meets with Lien Chan, honorary chairman of the Chinese Nationalist Party, or Kuomintang (KMT), in Beijing, April 29, 2008.    Positive changes have taken place in Taiwan and the cross-strait relationship has witnessed sound development, said Hu. He thanked Lien for bringing to the mainland the works of a well-known Taiwan sculptor as a gift to the Beijing Olympics.     Hu recalled his first meeting with Lien three years ago, which was the first official summit between the CPC and the KMT in the past 6 decades.     At that first summit, the two parties publicized common aspirations for the peaceful development of cross-strait relations, which laid the political foundation for cooperation, he noted.     He called for resuming cross-strait talks on the basis of the "1992 Consensus" as early as possible, to resolve problems in a practical manner, make substantial efforts for the welfare of Chinese compatriots on both sides and seek peace across the strait.     "The Chinese nationality will realize a bright future in its great rejuvenation, a common glory for the compatriots of the two banks," He said. The compatriots share the same fate and belong to the same big family of the Chinese nationality, Hu said.     He expressed the hope that compatriots on both banks will further join hands to create a new environment for the peaceful development of cross-strait relations, realize the great rejuvenation of the Chinese nationality, and promote the lofty cause of peace and development of mankind.     In his remarks, Lien agreed with Hu. He said the principles adopted at the KMT-CPC summit in 2005 were "of epoch-making importance" and have since been the guidelines for the peaceful development of cross-strait relations.     The welfare of the compatriots on both banks must be built upon the peaceful development of cross-strait relations, Lien said. He called for joint efforts to increase exchanges and cooperation in the fields of economics, culture, education and social security.     Also present were senior mainland officials including Wang Qishan, Ling Jihua, Chen Yunlin and Chen Shiju.

来源：资阳报