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Beijing, Feb. 8 -- China's banks will outpace their peers in India and Indonesia, the best performers in Asia's banking industry over the past decade, to deliver the highest returns over the next five to 10 years, analysis firm CLSA Ltd said.The top eight performers among Asian banks over the past decade were all from India, with gains of 400 percent to 3,000 percent, CLSA said in a research report released today.Indonesian banks ranked second over a three-to-five-year period, as no data was available for 10 years, the report said.Shenzhen Development Bank Co, China's first commercial bank to launch an IPO and get listed on Shenzhen Stock Exchange (in 1987), is expected to show a more than eight-fold increase in net profit for 2009, boosted by lower provisions for bad loans and higher net interest and fee income, the Wall Street Journal saidThe two countries recorded the highest credit growth, as India's loans increased 622 percent over the past 10 years, followed by 508 percent growth in Indonesia, Daniel Tabbush and Suangsuda Sinsadok, analysts at CLSA, said in the report.That shows "positive" implications for China's banks given the nation's 326 percent increase in loan growth over that period, they wrote in their analysis."Where China stock price data is only recent, we can at least assume that the fact that those banks are returning the third-highest loan growth over the past five and 10 years can in fact mean strong total returns over the long term," the analysts wrote.China's loan growth of 79 percent was the highest over the past three years, according to the report by CLSA, which is "overweight" on the nation's bank stocks as well as those in India and Indonesia.
BEIJING, March 1 (Xinhua) -- China's central government has allocated 28.6 billion yuan (4.2 billion U.S. dollars) to support farmers, the Ministry of Finance said in a statement Monday.The bulk of the funding -- 18.6 billion yuan -- would be used to subsidize farmers in growing improved varieties of crops such as rice, corn, and cotton.The other 10 billion yuan would subsidize purchases of farm machinery such as sowers and reapers, said the statement issued to Xinhua.The funding aimed to improve motivation in agricultural production, and stabilize the country's grain production, according to the statement.Farmers across the country would be eligible for the subsidies.The funding was on top of 86.7 billion yuan of subsidy funding to grain-growing farmers nationwide in February.The financial support for agriculture came as severe drought continued in the nation's west and south.The National Meteorological Center (NMC) issued a drought alert on Sunday warning the severe drought would continue over the next three days.The State Flood Control and Drought Relief Headquarters said Saturday the drought, which started at the beginning of February, had affected 69.6 million mu (4.64 million hectares) of arable land and left 12.7 million people and 8.4 million heads of livestock short of drinking water.

BEIJING, Feb. 9 (Xinhua) -- Chinese Premier Wen Jiabao Tuesday invited more talented foreigners to work in China, saying the country will improve services for them. Wen made the remarks at a meeting with more than 20 representatives of foreign experts, who have helped in China's social progress.Wen said China pays equal attention to attracting both investment and talented personnel, while utilizing science and technology to achieve sustainable development. Chinese Premier Wen Jiabao (L) shakes hands with a foreign expert at a meeting with more than 20 representatives of foreign experts, who have helped in China's social progress, in Beijing, capital of China, Feb. 9, 2010This calls for an active flow of talented foreigners to China to help with the nation's modernization drive, the premier said.He urged related organs to improve policy and service level for all the foreign experts coming to work in China. Chinese Premier Wen Jiabao (R) meets with more than 20 representatives of foreign experts, who have helped in China's social progress, in Beijing, capital of China, Feb. 9, 2010Isabel Crook, a 95-year-old Canadian expert in English teaching, gave her views on the key role that can be played by strong, vibrant rural communities.She suggested the government reevaluate the current practice of closing primary schools in small villages and concentrating them in larger villages.Other representatives of talented foreigners working in China, including Daniel Jospeh Dudek, a U.S. expert in environmental protection area, and Jean Dorey, a French expert in the education sector, offered suggestions to the Chinese government for tackling environmental challenges and boosting cooperation in the education sector.Wen listened attentively to their remarks and exchanged views.Wen also extended festival greetings to all foreign experts and international friends working in China, as well as to their families. He expressed gratitude for their contributions to China's development.
BEIJING, March 11 (Xinhua) -- Senior Chinese leaders joined lawmakers Thursday in discussions on the work report of the National People's Congress (NPC) Standing Committee.In the deliberation with lawmakers from northwest China's Qinghai Province, Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, said he totally agrees with the report.Li Changchun called on Qinghai authorities to further carry out the Scientific Outlook on Development and explore a new path of scientific and leapfrog development for underdeveloped regions.Li Changchun also told the deputies to step up efforts to promote core socialist values and ethnic unity.Vice Premier Li Keqiang joined the the discussion with lawmakers from Ningxia Hui Autonomous Region, in which he underscored the transformation of economic growth pattern.Li Keqiang said the region should improve economic restructuring, reforms and innovation, as the current drive to transform the economic growth pattern offers a new historic opportunity for western regions.Li Keqiang also said he entirely endorses the work report of the NPC Standing Committee.In his discussion with deputies from Jilin Province, He Guoqiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, said the province should take advantage of national policies to boost its own development.When speaking of fighting corruption, He, also head of the Central Commission for Discipline Inspection of the CPC, urged more efforts to address the loudest complaints of the people, expand participation of the public, and strengthening the collection and analysis of online information.
BEIJING, Feb. 2 (Xinhua) -- Li Changchun, a senior leader of the Communist Party of China (CPC), on Tuesday urged to provide the country's blind people with easier access to braille publications, textbooks and library services.Li, a Standing Committee member of the Political Bureau of the CPC Central Committee, made the comment when inspecting the China Braille Publishing House in Beijing.Li Changchun (C), member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China(CPC), looks at a braille book during his visit to the China Braille Publishing House in Beijing, capital of China, Feb. 2, 2010He said the CPC Central Committee attached great importance to the well-being of China's handicapped population, including the blind people.He called for stepped-up efforts to provide the blind with better cultural products and services to satisfy their growing need.
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