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CHICAGO, April 21 (Xinhua) -- The Chicago-based Boeing Company reported on Wednesday that its first-quarter net earnings were 519 million U.S. dollars, down 15 percent from 610 million dollars in the same quarter last year, citing the health care legislation charge.The aerospace and defense giant said in its first quarterly financial report that total revenues for the first three months were 15.22 billion dollars, down from 16.50 billion dollars in the prior year quarter while the earnings per share was down to 70 cents from 86 cents one year ago.Boeing indicated that the results for the quarter reflect solid performance across core businesses and a previously disclosed 20 cents charge per share on health care legislation, while the year- ago quarter results were reduced by 31 cents per share on a charge due to poor market conditions in commercial airplanes."With clear progress on the 787 and 747-8, solid financial performance and marked improvement in our customer outlook, we continue to draw on the positive momentum we saw at the end of 2009," said Jim McNerney, Boeing chairman, president and chief executive officer.Boeing's earnings guidance for 2010 is pegged at 3.50 dollars to 3.80 dollars per share, reduced from 3.70 to 4.00 per share due to the charge on health care legislation. At the same time, the company continues to expect that 2011 revenue will be higher than 2010, primarily driven by projected 787 and 747-8 deliveries."Our outlook remains attractive, and we are focused on executing well and delivering on our commitments to customers," said McNerney.The report also indicated that the 787 program continued flight testing during the quarter, as an additional two airplanes joined the two airplanes already in the flight test program.The Dreamliner completed key flight test milestones such as flutter, stall and ground-effect tests. On March 28, the static test unit successfully completed the ultimate load test with a fully pressurized cabin.The 787's first delivery is expected in the fourth quarter of 2010. Total firm orders for the 787 at quarter-end were 866 airplanes from 57 customers.

BEIJING, March 25 (Xinhua) -- Chinese Premier Wen Jiabao has warned that meeting this year's grain output goal of 500 billion kilograms would be "a test for sure" as severe drought in the southwest is likely to continue.In addition to the persistent drought in the southwestern regions, a long and cold winter in north China would lead to a decline in wheat output, said the premier during a three-day trip to the drought-plagued Yunnan Province from March 19 to 21. A local farmer looks at dying crop in the field in Shihuitang village of Shiping County, southwest China's Yunnan Province, March 24, 2010. The sustaining severe drought ravaged this region since last October and made no harvest of cropsOn his trip, Wen went to drought-hit villages, farmlands and reservoirs to learn about the impact that the drought had on local life and farm production.The drought has resulted in a direct economic loss of 23.66 billion yuan and left more than 18 million locals short of drinking water as of Tuesday, according to latest figures from the Ministry of Civil Affairs.Despite all those adverse conditions, Wen said China "should strive for a good harvest this year".The premier said priority should be given to the preparations for spring farming, urging local governments to make utmost efforts to combat the drought, prevent plant diseases, and ensure a good supply of fertilizer, pesticide and seeds.He also called for local governments' efforts to encourage farmers to expand the area of spring farming.The Chinese government set a goal in February, targeting grain output to exceed 500 billion kg this year.The country's grain output reached 530.8 billion kg in 2009, representing the sixth straight year of increase in output and exceeding 500 billion kg for the third consecutive year.

STOCKHOLM, March 30 (Xinhua) -- Chinese Vice President Xi Jinping on Tuesday met with Swedish King Carl XVI Gustaf, complimenting the Swedish royal family for their contributions to promoting relations between Sweden and China.At the beginning of the meeting, Xi conveyed Chinese President Hu Jintao's compliments and best regards to the Swedish king, for which the Swedish king expressed his gratitude.Xi said that 60 years ago Sweden led many Western countries in taking the initiative to establish diplomatic ties with the new China, a move which the Chinese government and people always highly appreciate.Chinese Vice President Xi Jinping (R) meets with Swedish King Carl XVI Gustaf in Stockholm, Sweden, March 30, 2010.Thanks to concerted efforts by both sides in more than half a century, the Sino-Swedish relationship has reached a mature phase featured with frequent exchange of high-level visits, steady increase in mutual political trust, close trade and economic ties, mutually beneficial cooperation in science and technology, education, culture and environment protection, and active interactions at the local government level and between the two peoples, Xi said.The Chinese government attaches great importance to develop friendly and cooperative ties with Sweden and highly values the active role Sweden plays in EU and international affairs, the Chinese vice president said.He said that the Swedish royal family has devoted themselves to promoting Swedish-Chinese exchange and friendship and made great contributions to the development of relations between the two countries.

WASHINGTON, April 21 (Xinhua) -- Powered by strong domestic demand, China's economy is expected to grow by 10 percent in 2010, said the International Monetary Fund (IMF) on Wednesday."In China, GDP growth exceeded the government's 8 percent target in 2009 and is expected to be close to 10 percent in both 2010 and 2011. What has been so far mainly a publicly driven growth path, built on infrastructure investment, is expected to turn toward stronger private consumption and investment," said the IMF in its latest World Economic Outlook report."Boosting domestic consumption will be a priority in China, through improved access to finance for small enterprises and households and stronger corporate governance and social safety nets to reduce precautionary saving," said the IMF.According to the report, in which the IMF said Asia's GDP is projected to grow by 7 percent in both 2010 and 2011, the strength in final domestic demand in China is expected to have positive spillovers for other Asian economies, particularly exporters of commodities and capital goods.In the report, the IMF said "the global recovery has evolved better than expected, with activity recovering at varying speeds, tepidly in many advanced economies but solidly in most emerging and developing economies."The world economy, which declined by 0.6 percent in 2009, will recover gradually in 2010 and 2011, growing by 4.2 percent and 4.3 percent respectively, said the IMF.

BEIJING, May 10 (Xinhua) -- Tao Dayong, a well-known Chinese economist and also honorary vice chairman of the ninth Central Committee of China Democratic League (CDL), has died of illness at the age of 93.President Hu Jintao, Premier Wen Jiabao and other senior leaders, including Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, expressed their condolences.Tao, a native of Shanghai, graduated in 1940 from the Department of Economics of the Nanjing-based Central University.He joined the China Democratic League in 1947 and became chief editor of the Economic Weekly, a magazine published by the Hong Kong-based Chinese language newspaper Wen Wei Po in 1949.Tao was a member of the sixth, seventh, and eighth National People's Congress Standing Committee and a member of the Standing Committee of the Sixth National Committee of the Chinese People's Political Consultative Conference.