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BEIJING, Sept. 15 (Xinhua) - China is still likely to meet its full-year inflation target this year despite the August inflation rate quickening to a 22-month high of 3.5 percent year on year, officials from the country' s top economic planer said Wednesday.In August, the consumer price index (CPI) rose mainly by increased prices of food products like pork and eggs, as the coming Mid-Autumn festival in China had boosted the consumption of food items, according to the National Development and Reform Commission (NDRC).Further, the price rise of vegetables due to seasonal reasons contributed to the August CPI increase, said the NDRC authorities.The upcoming autumn harvest, which accounts for about 70 percent of China's annual grain output, is expected to stabilize food prices, which have a one-third weighting in the calculation of the CPI, said the NDRC.The NDRC also revealed that China would place central pork reserves on the market, which means pork prices cannot rise higher.Further, the industrial consumer prices are remaining stable with a slight decline, and this is not conducive to inflation, according to the NDRC.These elements are assisting in the drop of the CPI through the rest of the year, and is helpful for China to attain its full year inflation target, it added.China has targeted a 3 percent rise in consumer prices this year.
BEIJING, Oct. 29 (Xinhua) -- China Merchants Bank said Friday its profit rose 57.4 percent to 20.59 billion yuan (3.07 billion U.S. dollars) in the first three quarters from one year earlier.The jump in net profit was mainly due to higher interest income, the bank said in its business report filed with the Shanghai Stock Exchange.Also, total assets of the mid-sized lender had expanded to 2.36 trillion yuan by the end of September, up 14.10 percent from the end of 2009.Additionally, the bank's non-performing loan ratio was 0.64 percent, down 0.18 percentage points from the beginning of this year.Shares of the bank were down 2.41 percent at 14.57 yuan in Shanghai and down 1.13 percent at 21.95 HK dollars in Hong Kong Friday.
MANILA, Sept. 17 (Xinhua) -- The Philippine government will provide the Chinese government a copy of the final report on the Aug. 23 hostage-taking incident before it divulges the findings to the public, the presidential palace said on Friday night.Secretary Ricky Carandang of the Presidential Communications Development and Strategic Planning Office made the statement after President Aquino met with the Incident Investigation and Review Committee (IIRC) led by Justice Secretary Leila de Lima, following the submission of the final report on the incident that killed eight Hong Kong nationals."We have to communicate this to Beijing first before we make it public," Carandang said, adding that the presidential palace only "wants to be careful" in handling the sensitive matter.He said that the high-level Philippine delegation will still go to Beijing and Hong Kong to formally present the report to their leaders but this will have to be done after the President's working visit to the United States.The President and his delegation to the United States will depart on Monday night and will return on Sept. 28.
BEIJING, Oct. 15 (Xinhua) - Members from friendship associations of China and Japan on Friday voiced their hope for people-to-people exchanges to help improve strained China-Japan relations after recent disputes.The proposal was launched at a conference held in the Great Hall of the People to mark the 60th anniversary of the establishment of the Japan-China Friendship Association (JCFA), a friendly group established on Oct. 1, 1950 with the view to promoting mutual understanding and cooperation between the two peoples and promote bilateral exchanges and trade."Friendly groups should take the 60th anniversary as a new starting point to deepen friendly exchanges between the two countries, especially between the youth, and contribute to the China-Japan strategic relationship of reciprocity," said President of the China-Japan Friendship Association (CJFA) Song Jian. He also spoke highly of the contribution made by the JCFA for the development of China-Japan relations.People-to-people exchanges have always played an important role in the history of bilateral relations. It not only helped the two countries normalize ties but also improve the bilateral relations when they were strained by some issues such as the visits paid by former Japanese Prime Minister Koizumi Junichiro to the Yasukuni Shrine.Regarding the recent friction between the two countries caused by a ship collision, people-to-people exchanges were expected to play a role again.Two Japanese Coast Guard patrol ships and a Chinese trawler collided on Sept. 7 in the waters off the Diaoyu Islands. Japan's subsequent illegal detention of the Chinese trawler and crew members resulted in strong protests from the Chinese government and public. China then halted bilateral exchanges at and above provincial and ministerial levels. The crew and the boat were released after the Chinese side took some countermeasures."China and Japan are neighboring countries separated by only a thin strip of water. People of the two countries boast a 2000-year history of friendly exchanges. The good-neighboring relationship between China and Japan is not only in the fundamental interests of the two peoples, but also conducive to the peace, stability and prosperity of the region and the world at large," Song said.He added that the history of the 20th century proved that it is in the fundamental interests of the two peoples to maintain peaceful coexistence, friendship lasting for generations, reciprocal cooperation and common development."It is a long-term and hard task to promote the development of the China-Japan friendship, and it needs the efforts from both sides," Song said.For his part, JCFA's vice chairman Shoichi Ide also pledged to make efforts to deepen mutual understanding between the two countries.Japan and China are facing a new situation to further deepen the bilateral strategic relations. The JCFA will take the 60th anniversary as an opportunity to actively carry out exchange activities and promote friendship between the two countries, he said.At the gathering, 30 people from the JCFA who have made remarkable contributions for the China-Japan friendship were awarded.Officials from the Chinese People's Association for Friendship with Foreign Countries, Chinese governmental departments and the two friendly associations also attended the conference.