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WASHINGTON, April 25 (Xinhua) -- World Bank member countries reached an agreement on Sunday to shift more power to emerging and developing nations, under which China's votes increased to 4.42 percent from 2.77 percent, making it the third largest voting power holder in the Washington-based international institution.In total, the World Bank approved a 3.13-percentage-point increase in the voting power of the Developing and Transition Countries (DTCs), making it 47.19 percent now and representing a total increase of 4.59 percentage points for the DTCs since 2008."This increase fulfills the Development Committee commitment in Istanbul in October 2009 to generate a significant increase of at least 3 percentage points in DTC voting power," said the World Bank in a statement.Chinese Finance Minister Xie Xuren (C, Front) and other participants pose for a group photo prior to the IMF-World Bank Development Committee meeting in Washington April 25, 2010.After a first phase of reforms agreed in 2008, developing countries have an around-44-percent share in the World Bank.At the Pittsburgh G20 summit in September 2009 and the Istanbul Development Committee meeting in October 2009, the bank's shareholders agreed to raise the voting rights to at least 47 percent for developing and transition countries."We were just pleased that we are getting close to reflecting China's increasing share in world economy, and that is reflected in edited voting share," World Bank President Robert Zoellick told Xinhua after the Development Committee meeting."Today was a good day for multilateralism," said Zoellick. " This shift of shares is agreed by our shareholders. They try to recognize the change in the world economy and include the contribution to the development in the methods, which can encourage developing countries in transition."

BEIJING, April 28 (Xinhua) -- Industrial enterprises in China's 24 regions reported combined profits of 690.8 billion yuan (101.2 billion U.S. dollars) in the first quarter, more than double the figure of the same period last year, the National Bureau of Statistics (NBS) said in a statement Wednesday.The NBS did not provide reasons for the 102.6-percent profit surge. The figure was down 21.1 percentage points for the first two months of the year, the statement said.Analysts attributed the growth to a low comparison base during the first quarter of 2009 when the country's economic growth was dragged down by the global economic downturn. The economic recovery, backed by government stimulus measures, also helped lift profits.The People's Bank of China, the central bank, said in a statement last week that industrial production in the first quarter had accelerated and profits of enterprises continued to expand on growing domestic demand.Altogether 38 of the 39 major industrial sectors saw year-on-year growth in profits, with profits of the steel industry up 3,380 percent and those of the power sector up 1,540 percent, the statement said.

BEIJING, April 1 (Xinhua) -- Chinese Premier Wen Jiabao has pledged to further reform of income distribution to narrow the gap between rich and poor and secure social stability.In an article published Thursday in Qiushi, or "Seeking Truth," the official magazine of the Communist Party of China (CPC) Central Committee, Wen said greater efforts were needed to build a rational income distribution structure."If the income gap continues to widen, it will pose a major threat to our economic development and social stability," Wen wrote. "We are poised and capable of gradually resolving this problem with a sound momentum of economic and social development and greater sustainability in various fields."Complaints have been growing about how the income growth of many Chinese was lagging behind the rise in state fiscal revenue. Low incomes have been blamed for dragging down consumer spending."We will not only make the 'pie' of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system," Wen wrote.

SHANGHAI, April 30 (Xinhua) -- President Hu Jintao said Friday China attaches great importance to its relations with the Democratic People's Republic of Korea (DPRK), adding cementing friendly ties between the two countries has been a consistent policy of China.China is willing to join hands with the DPRK to promote the good neighborly relations to new heights, Hu said when meeting with Kim Yong Nam, president of the Presidium of the Supreme People's Assembly of the DPRK.Hu said China would maintain and strengthen friendly exchanges with the DPRK at all levels. He urged the two sides to provide mutual support on major international and regional issues, and enhance communication and coordination on important issues. Chinese President Hu Jintao (R) meets with Kim Yong Nam, president of the Presidium of the Supreme People's Assembly of the Democratic People's Republic of Korea, in Shanghai, east China, on April 30, 2010. China and the DPRK celebrated the 60th anniversary of their diplomatic ties by holding the Year of Friendship in 2009. Kim Yong Nam said the Year of Friendship had yielded substantial results.Kim Yong Nam said the DPRK was willing to expand and deepen cooperation with China and promote bilateral friendly cooperative relations.