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HANGZHOU, Sept. 24 (Xinhua) -- He Hongwei, a college graduate living in central eastern China's Zhejiang Province, five years ago fussed over landing a decent job amid red-hot competition in the world' s most crowded job market.He then began selling novelty toys on the Internet. Five years on, he has grown into a billionaire and today is busy seeking employees to work in his own factory."I never thought I would make my fortune on the Internet, starting from scratch," the 35-year-old He said.Several years ago, e-shopping was only a "shelter" for many young Chinese who turned to the Internet marketplace to make their living after failing to find decent jobs offline. Most of them earned only paper-thin profits, as e-commerce in China then was still in its infancy.He's story, however, reflected a trend that e-business in China was no longer merely a way of survival, but has become an incubator for the newly-rich who had not expected they could make their fortunes online.According to a report released by Alibaba.com earlier this month, China's largest Nasdaq-listed e-commerce company, some 77 million Chinese individuals and businesses have opened E-shops as of the end of this June.Further, the number of e-shoppers has reached 142 million, or one-third of the nation's total online population.Retail sales at e-shops more than tripled between 2007 and 2009, much faster than the 18 percent growth of retail sales in general during the same period. In the first half of this year, retail sales of e-businesses more than doubled to 211.8 billion yuan (31.6 billion U.S. dollars).Booming sales helped entrepreneurs with e-business start-ups live decent lives, as more than 1 million e-shops at Taobao.com, China's largest online marketplace, earn profits of at least 2,000 yuan a month.As their businesses grow larger, more shops reported profits of over 10 million yuan a year. Sheng Zhenzhong, senior analyst with the research center of Taobao.com, declined to disclose how many such shops were listed on Taobao, but said the number is steadily rising.INTEGRITYAs an old Chinese saying goes, free traders are not bad, which means businessmen should cheat to stay competitive.The old tenet used to work in the early 1980s' when the market economy was initially practiced in China and many businessmen profited from selling shoddy goods.But that could hardly be the case in today's online market, as integrity has become the most important traits for the Internet's commercial success in China.Shi Hongwei is a wholesaler of stockings at Taobao.com. He sells more than 2,000 pairs of socks everyday. For Shi, a young e-shop owner, this is quite a big deal. But, what he cares about most is the rating feedback from his customers.

BEIJING, Sept. 27 (Xinhua) -- Top Chinese legislator Wu Bangguo met here Monday with President of the National Assembly of Mali Dioncounda Traore and the two sides pledged to enhance parliamentary exchanges.Wu, chairman of China's National People's Congress Standing Committee, welcomed his counterpart at the Great Hall of People in Beijing.Wu said Mali was one of the first countries in Sub-Saharan Africa to establish diplomatic ties with China and bilateral relations between the two countries have endured various tests over the years.The sustainable development of bilateral ties has its basis in political mutual respect and mutual economic benefit, Wu said.He said Chinese President Hu Jintao's successful visit to Mali last year pushed bilateral relations to a new high.This year marks the 50th anniversary of the establishment of diplomatic ties between the two countries.Expressing hope to work with Mali to deepen friendship and expand cooperation, Wu said China's National People's Congress attaches great importance to exchanges with the Malian National Assembly.Traore said Mali and China have traditional friendship and Mali admires China's national solidarity, social harmony and rapid economic growth.Mali will further develop bilateral ties between the two countries and their parliaments, Traore said.He reiterated Mali's strict observance of the one-China policy. He also said Mail supports China on issues concerning China's core interests.

BEIJING, Oct. 15 (Xinhua) -- Foreign direct investment (FDI) in China in September rose 6.14 percent year on year to 8.384 billion U.S. dollars, bringing the country's FDI inflow for the first nine months back to pre-financial crisis level.The September figure brought the total amount for the first nine months of this year to 74.34 billion U.S. dollars, rising 16.6 percent year on year, spokesman with the Ministry of Commerce (MOC) Yao Jian said Friday at a press conference.The January-September FDI figure suggested China's FDI inflow had returned to pre-crisis level, Yao said.According to MOC statistics, China received 74.37 billion U.S. dollars of FDI in the first nine months of 2008.The September FDI increase quickened from the year-on-year growth of 1.38 percent in August.The stable increase in China's FDI inflow was mainly boosted by the country's strong economic momentum, said Lu Zhengwei, chief analyst at the Industrial Bank.Although China's economic growth had eased, it was still strong, Lu said.China's GDP increased 10.3 percent year on year in the second quarter of this year, decelerating from first quarter's 11.9 percent. The National Bureau of Statistics is scheduled to release economic data for the third quarter next week.China's manufacturing sector received 47.6 percent of FDI inflow in the first nine months, while services industry got 45 percent, Yao said.A total of 19,209 foreign-invested enterprises were approved for establishment during the period, up 17.5 percent from one year earlier.Yao expected China's FDI inflow to hit 420 billion U.S. dollars in the country's 11th Five-year Plan (2006-2010) period, which was 1.5 times as much as that in the 2001-2005 period. This would make China the world's second largest destination for FDI.During the first nine months, China's outbound investment, excluding the financial sector, totaled 36.27 billion U.S. dollars, up 10.4 percent, he said. Some 30.9 percent of the investment outflow was for acquisitions of companies.

PYONGYANG, Sept. 29 (Xinhua) -- The Chinese embassy in Pyongyang held a reception on Wednesday to celebrate the 61st anniversary of the founding of the People's Republic of China.Speaking at the reception, Chinese ambassador Liu Hongcai congratulated the successful conference of the ruling Workers' Party of Korea (WPK) and the re-election of Kim Jong Il as party general secretary.He said China will steadily boost the friendly and cooperative relationship between China and the Democratic People's Republic of Korea (DPRK) to a higher level.Yang Hyong Sop, vice-president of DPRK's Presidium of the Supreme People's Assembly, said in his speech that the Chinese people successfully built a Socialist state with Chinese characteristics and achieved many successes in the construction of a harmonious society under the leadership of the Communist Party of China.To steadily consolidate and develop the DPRK-China friendly and cooperative relationship is the consistent stand of the WPK and the DPRK government, he said.Yang also expressed the belief that the traditional friendship and bilateral cooperation would grow stronger in the spirit of agreements reached between top leaders of the two countries.

BEIJING, Sept. 27 (Xinhua) -- Top Chinese legislator Wu Bangguo and Premier Wen Jiabao met with visiting Russian President Dmitry Medvedev Monday, with all three vowing to step up bilateral cooperation.Defining Russia as China's "most important strategic partner," Wu told Medvedev China always regards relations with Russia a priority.He said this year is important for China-Russia ties, citing frequent meetings between state leaders and vigorous trade growth.Medvedev told Wu he had an in-depth exchange of views with Chinese leaders on a wide range of topics and signed a series of important agreements during his "successful" China visit.Wu Bangguo (R), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with Russian President Dmitry Medvedev at the Great Hall of the People in Beijing, capital of China, Sept. 27, 2010.He stressed the importance of Russia-China relations to international relations.Chinese President Hu Jintao and Medvedev attended a ceremony marking the completion of the China-Russia crude oil pipeline after their talks Monday.Calling parliamentary exchanges a key component for the China-Russia strategic partnership of cooperation, Wu proposed enhancing exchange between legislatures and cementing cooperation on large projects.Medvedev agreed with Wu's suggestion, adding that his country highly values its strategic partnership of cooperation with China.Russia is ready to make joint efforts with China to strengthen high-level contacts and substantial cooperation in various areas, he added.

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