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BEIJING, Aug. 30 (Xinhua) -- The country's top 500 giants are narrowing gap with foreign counterparts, but they still lag behind, the China Enterprise Confederation announced in its release of the 2008 Top 500 Chinese enterprises list on Saturday.     According to the report, the total revenue of the top 500 Chinese enterprises reached 2.99 trillion U.S. dollars (1 dollar=7.3046 yuan, calculated under the exchange rate in 2007), profits 188.4 billion U.S. dollars and assets 8.17 trillion U.S. dollars.Revenues were equivalent to 12.67 percent of the global top 500, profits equaled 11.85 percent and assets 7.79 percent, compared with 10.7 percent, 6.5 percent and 7.8 percent respectively last year.     Analysts said the growing proportion of revenue and profits indicated that Chinese companies had become more competitive and profitable.     Confederation deputy president Li Jianming said the country's growing economy had benefited these enterprises in spite of price hikes for oil and other materials.     He also said private enterprises had grown more robust and capable of taking in advanced technology and management from world giants. They accounted for about a fifth of the country's top 500 enterprises.     In addition, their rising investment in research and development and their emphasis on exploring the domestic market increased competition. The growth rate of net profits of the country's top 500 was 19 times faster than that of the world's top500.     However, another confederation deputy president Wang Jiming said Chinese enterprises still fell behind in innovation, investment in research and development, and the ability to operate internationally. It would take a long time to catch up.     Only 39 enterprises reported overseas sales income of more than 30 percent of the total revenue. Research and development spending accounted for only 1.32 percent of their total revenue, compared with the international average of 3 percent to 5 percent.     Poor supply chain management also lagged behind. Logistics coststill accounted for much of the total output, twice that of the world average. Haier and Huawei were among the few enterprises that paid adequate attention to supply chain management.     Sinopec Corp, Asia's top oil refiner, retained top spot for the fourth straight year on the Top 500 Chinese Enterprises list with its business revenue exceeding 1.2 trillion yuan, (175.2 billion U.S. dollars), the China Enterprise Confederation (CEC) said on Saturday.     The oil giant was followed by the State Grid and PetroChina Company.     The top 500 companies paid taxes of 1.74 trillion yuan, accounting for 35.2 percent of the national tax revenue.     Baosteel Group Co. and China FAW Corporation and Hongfujin Precision Industry (Shenzhen) Co. held the top three positions in manufacturing sector.     The State Grid Corp. of China, the Industrial and Commercial Bank of China and China Mobile ranked the top three in the service sector.

BEIJING, Sept. 19 (Xinhua) -- Chinese President Hu Jintao on Friday urged all the members of the Communist Party of China(CPC) to put people's interests first and learn the bitter lessons from the latest security incidents.     Addressing the opening ceremony of a seminar for the country's ministerial-level leaders in Beijing, Hu, also the General Secretary of the CPC Central Committee, said that the major accidents on work and food safety which occurred in some places of the country this year had incurred severe losses of people's lives and property.     These accidents had indicated that some leaders lacked a sense of responsibility and had a loose governance, he said.     These accidents also showed some of the leaders paid no attention to people's problems and complaints and were insensitiveto the problems which threats people's life security, said Hu.     He urged all the leaders to fully understand the serious consequences of the accidents and learn the bitter lessons from the accidents.     Those accidents reminded us once again that only by solving the problems emerged from the Party leaders ... and putting people's interests first, could the Party better lead the people towards the building of a well-off society, Hu said.     The President also urged more efforts from the leaders to realize and safeguard the fundamental interests of the people.     Leaders should strive hard to do practical and good things for the people and ensure that people benefits from the country's developing economy, he noted.     More efforts should be made to mobilize people to be involved in the cause of the country's scientific development, and leaders should collect people's ideas and listen to their opinions in the process, he said.

DUSHANBE, July 26 (Xinhua) -- Tajik President Emomali Rakhmon and Prime Minister Akil Akilov on Saturday pledged to develop all-round cooperation with China while meeting separately with Chinese Foreign Minister Yang Jiechi.     In his meeting with Rakhmon, Yang expressed his gratitude for Tajikistan's aid and support for China's earthquake relief. Tajik President Emomali Rakhmon (R) meets with Chinese Foreign Minister Yang Jiechi in Dushanbe, capital of Tajikistan, July 26, 2008. Yang attended the foreign ministers' meeting of the Shanghai Cooperation Organization (SCO) in Dushanbe on Friday. Noting that Sino-Tajik relations have been developing rapidly and soundly in recent years, Yang said the political mutual trust is deepening and the two countries have supported each other on such major issues as national sovereignty, territorial integrity and security. Pragmatic bilateral cooperation in all fields has yielded fruitful results, he added.     During Rakhmon's visit to China last year, China and Tajikistan signed a treaty on good-neighborly friendship and cooperation, which would guide the future development of bilateral ties, the Chinese foreign minister said.     China would like to work with Tajikistan to enhance cooperation and communication and contribute to maintaining regional stability and boosting common development, he said.     Rakhmon said Tajikistan highly evaluates relations with China and appreciates China's support to his country's economic and social development.     Tajikistan would continue to develop cooperation with China in all fields so as to elevate bilateral relations to a new high, he said. Tajik Prime Minister Akil Akilov (L Front) meets with Chinese Foreign Minister Yang Jiechi in Dushanbe, capital of Tajikistan, July 26, 2008Both sides also exchanged views on regional situations and the development of the Shanghai Cooperation Organization (SCO).     While meeting with Akilov, Yang discussed with him ways to further strengthen bilateral cooperation. Yang said both sides should try to ensure the smooth implementation of major joint projects and explore other ways of cooperation that are compatible with market principles and conducive to economic growth of both countries. He also expressed the hope that Tajikistan will further improve its investment environment and create more favorable conditions for cooperation.     Akilov said Tajikistan expects to expand cooperation with China in such areas as power generation, transportation, mining and human resources and develop stronger economic links between the two countries' border regions. Akilov pledged his government's efforts to support and facilitate Chinese investment in the central Asian nation.

BEIJING, Oct. 10 (Xinhua) -- China's central bank on Friday said it will continue international cooperation to tackle the global financial crisis and maintain market stability.     The pledge came two days after the People's Bank of China (PBOC) announced an interest rate cut in a co-ordinated global move to revive solvency in the international financial system.     The PBOC on Wednesday cut the benchmark lending and deposit rates by 0.27 percentage points and the reserve requirement ratio by 0.5 percentage points amid growing fears of a slowing economy and falling equities market.     "The PBOC will continue close contacts and cooperation with counterparts and international financial organizations to jointly maintain stability of global financial market," PBOC spokesman Li Chao told Xinhua.     The PBOC would closely watch the developments and effects of the crisis and take timely and flexibly measures according to changes in the domestic and international situations to guard against financial risks, Li said.     The global economic slowdown reduced demand for Chinese exports and inevitably affected China's economy, he said.     The central bank was fully confident and capable of dealing with the crisis and maintaining stable and relatively fast economic growth.     "China has a huge domestic market and the liquidity is abundant," he said. "As long as we take strong measures to boost domestic demand, the economy has big potential for sustainable growth."     A PBOC statement on the third-quarter meeting of its monetary policy committee said it would take flexible and prudent macro-economic control measures to boost economic growth.     The PBOC was not optimistic in its global economic outlook as intensifying fluctuations in the financial markets had affected the real economy.     It said it would boost coordination between monetary policies and fiscal, industry, export and financial regulation policies to help transform economic growth mode and boost domestic demand to balance international payments.

BEIJING, July 18 (Xinhua) -- Vice Premier Li Keqiang has urged officials and workers at the section of the Three Gorges in southwest China to ensure safety and quality for the project as the flood season draws near.     The member of the Standing Committee of the Communist Party of China Central Committee Political Bureau made the remark at a meeting here on Thursday by the Office of the State Council Three Gorges Project Construction Committee.     The Three Gorges Dam started discharging water earlier this month to lower the water level in the reservoir after excessive rainfall upstream. The discharge would continue as more heavy rain was expected on the upper reaches of the Yangtze River. Flood is discharged from the Three Gorges Reservoir through the dam in Yinchang, central China's Hubei Province, July 5, 2008.    "The project is now entering the key post-construction phase. Meanwhile, the flood season is coming and our safety task is very arduous," said Li after hearing reports on the project by teams of experts, the Ministry of Land and Resources and other organizations, among them.     Li stressed the evacuation and relocation of people living in the dam section was a long-term mission. Related organizations should see to their basic life requirements and employment by fulfilling policies on supporting migrants and training them for professional skills.     The world's largest dam, 2,309 meters long and 185 meters high, is expected to help minimize damage caused by floods that might occur only once every 1,000 years.     In addition, Li urged to build an ecological protection area around the dam to prevent water pollution, soil loss and mud-sand silting. He said the section of the Three Gorges Dam should be built as an ecological barrier for the Yangtze.     The 22.5 billion U.S. dollar project was launched in 1993. Its 26 turbo-generators is designed to produce 85 billion kwh of electricity annually after their installation is completed at yearend.     According to the office, more than 1.24 million people had been relocated and the project was going smoothly in terms of the local economic society development, environment construction and geologic disaster prevention.