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BEIJING, Aug. 22 (Xinhua) -- Wuhan Iron and Steel Company Ltd., the listed subsidiary of China's third largest steel maker, said Sunday that its net profit rose 90.43 percent year on year to 963.53 million yuan (141.7 million U.S. dollars) during the first half of the year as strong economic growth boosted steel demand and prices.The company's first-half-year sales reached 34.36 billion yuan, up 50.72 percent from one year earlier, it said in a statement delivered to the Shanghai Stock Exchange.However, costs also climbed in the first six months compared with a year earlier because of increases in raw material prices, it said.Production costs for steel products gained 47.12 percent year on year to 31.18 billion yuan. Further, the company's steel output in the first half of the year gained 29.75 percent year on year to 8.04 million tonnes.China's producer price index, a major gauge of inflation at the wholesale level, rose 6 percent in the January-June period, according to statistics released by the National Bureau of Statistics.However, the company was likely to face a "difficult time" in the second half of 2010 and meeting its full-year profit target would become a "challenging task" as demand from auto, home appliance and real estate sectors experienced "drastic changes" since July, leading to more restrained sales and falling prices, it said.Company officials also worried that high prices of iron ore, coal and electricity would further push up production costs and squeeze profit margins.On Friday, the price of its shares fell 2.87 percent to 4.73 yuan on the Shanghai bourse.
BEIJING, June 17 (Xinhua) -- China and Pakistan pledged to strengthen defense ties Thursday at a meeting between Chinese Defense Minister Liang Guanglie and visiting Pakistani Chief of Army Staff Ashfaq Parvez Kayani."Cooperation between the Chinese and Pakistani armed forces is exemplary and has been fruitful," Liang, also a state councilor, said during the meeting at Diaoyutai Guest House Thursday morning.Liang said the two sides should make continuous efforts to conduct their cooperation programs well.He said China would join hands with Pakistan to bring military relations to a new high.Kayani said Pakistan values its defense and security cooperation with China, noting that the two countries have cooperated fruitfully in national defense industries in recent years.He added Pakistan would further strengthen exchange and cooperation with China.Kayani also met with Chinese State Councilor and Minister for Public Security Meng Jianzhu, top Chinese legislator Wu Bangguo, and Vice Chairman of China's Central Military Commission Guo Boxiong later Thursday.During the meeting with Meng Jianzhu, the two sides discussed bilateral cooperation in law enforcement and security.Hailing results achieved in the two fields, Meng pointed out Pakistan's active efforts in cooperating with China, including in anti-terrorism. He said he believed that the China-Pakistan cooperation in law enforcement and security would continue to develop with the joint efforts from both sides.Kayani echoed Meng saying the Pakistani government and its armed forces attached much importance to the strategic cooperation with China, and the government would further enhance it.During a meeting with Guo Boxiong, the senior officer of the People's Liberation Army of China stressed the importance of strategic communication between China and Pakistan.Guo said the all-weather friendship between the two countries has endured major international challenges. Facing the changing international and regional security situation, the two sides should strengthen strategic communication, deepen substantial cooperation and make positive contributions to regional peace and prosperity.Kayani said Pakistan valued and was proud of its traditional friendship with China.

XIAMEN, Fujian, June 19 (Xinhua) -- The Chinese mainland and Taiwan kicked off the largest-ever grassroots-forum in southeast China's city of Xiamen Saturday evening, as more than 10,000 Taiwanese are expected to participate during the next seven days.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), declared the opening of the weeklong Straits Forum before a huge audience at the International Convention and Exhibition Center of Xiamen.Now in its second year, the forum will feature 25 activities including leisure chats, galas, and religious worship, instead of formal dialogues and policy-setting negotiations that dominate other major mainland-Taiwan exchanges." hspace="0" src="/d/file/p/2010/06/4a9775d47b447dde7f8f012bc892feb9.jpg" border="0" />Jia Qinglin(8th R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), attends the opening ceremony of the second Strait Forum in Xiamen, southeast China's Fujian Province, on June 19, 2010Organizers said about 80 percent of the Taiwan participants this year would be non-officials and over 60 percent were from central or southern Taiwan."The forum is a landmark innovation of cross-Strait exchanges. It is a grand gathering of people from all sectors across the Taiwan Strait and a platform for grassroots civilians from both sides to communicate," said Wang Yi, head of the State Council's Taiwan Affairs Office.On the stage, Wang surprsingly used Minnan dialect -- the mother tongue of most residents in central and southern Taiwan -- to greet the audience.Wang urged people from the mainland and Taiwan to unite to push for peaceful development of cross-Strait relations.Taiwan's ruling party Kuomintang's vice chairwoman, Huang Ming-hui, sang "Girls of Alishan Mountain" -- a well-known Taiwanese folk song at the opening ahead of a gala show.
BEIJING, July 26 (Xinhua) -- China's centrally administered state-owned enterprises (SOEs) jointly donated over 1.42 billion yuan (212.53 million U.S. dollars) for charitable work during the first half of 2010, the state assets watchdog said Monday.The money came from 107 of the 125 central SOEs which are overseen by China's State Assets Supervision and Administration Commission (SASAC), according to a statement posted on the SASAC's website.Some 53.63 percent of the donated funds went to disaster-hit areas, including China's southwest provinces, which were hit by a once-in-a-century drought earlier this year, and Yushu Prefecture of Qinghai Province, where a devastating earthquake struck in April.China's largest coal producer, Shenhua Group, and two oil giants, PetroChina Co. and China National Offshore Oil Corp., ranked top three in the list of the most generous donors, with their donation accounting for 36.78 percent of the total.
XIAMEN, June 19 (Xinhua) -- Top Chinese political advisor Jia Qinglin called for increasing cooperation and exchanges between the Chinese mainland and Taiwan on Saturday as a means of advancing peaceful development of cross-Strait relations.In his meeting with Taiwanese guests who are in Xiamen to attend the second Straits Forum, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, expressed his hope that the Chinese mainland and Taiwan could continue to host and perfect such grassroots-level forums in the future."(Organizers) should welcome more Taiwanese to participate in the forum, especially those who had never been to the Chinese mainland," Jia said." hspace="0" src="/d/file/p/2010/06/eeb7e8c2214d07bd4bf3647a3374dba4.jpg" border="0" />Jia Qinglin(C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), attends the opening ceremony of the second Strait Forum in Xiamen, southeast China's Fujian Province, on June 19, 2010"People of all parties and all circles, as long as they support cooperation and exchanges across the Taiwan Strait, are welcome to exchange their views at the forum on an equal basis," he said.The Straits Forum, now in its second year, is expected to attract more than 10,000 Taiwanese participants this year. Among them, about 80 percent were non-officials, and over 60 percent were from the central or southern part of the island.Hailing the Straits Forum as a pioneering innovation, Jia said he believed the forum would make greater contributions to grassroots-level exchanges between the Chinese mainland and Taiwan, and contribute to the peaceful development of cross-Strait ties.Huang Ming-hui, vice chairwoman of Taiwan's ruling Kuomintang party, also said enhanced exchanges between the two sides across the Taiwan Strait would help reduce misunderstandings and continuous communications help reach consensus.
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