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HONG KONG, Aug. 22 (Xinhua) -- China Construction Bank (CCB), the country's second largest bank, said Sunday its net profit in the first half of this year jumped 27 percent to reach 70.78 billion yuan (10.4 billion U.S. dollars) from a year earlier and its non-performing loan (NPL) ratio dropped to 1.22 percent.In a filing to the Hong Kong stock exchange, CCB said its profit before tax amounted to 92.19 billion yuan, up 27.2 percent year on year.RAPID GROWTH IN H1Key contributors to the rapid year-on-year growth of net profit were increased credit supply, service and product innovation, and decreased impairment losses, according to the statement.Regarding credit supply, the bank said its average balance of interest-bearing assets rose by 18.26 percent in the first half, prompting net interest income to surge by 15.33 billion yuan, or 15 percent.On service and product innovation, CCB said net fee and commission income rose by 10.22 billion yuan, or 43.63 percent year on year, as a result of sustained rapid expansion of fee-based business.The Beijing-based lender also said its impairment losses fell by 2.995 billion yuan, or 23.36 percent, due to price rally in foreign currency debt securities with the improving market.CCB President Zhang Jianguo said in the statement that there were signs of recovery in developed economies and robust growth of emerging economies against the backdrop of a gradually warming-up global economy in the first half.China has sustained rapid economic growth, thanks to the government's ongoing stimulation of domestic demand, he said. Foreign trade has gradually improved, while investment and consumption spending have continued to expand at a fast pace, and China's overall financial market performed steadily in the first half.Amid the European sovereign debt crisis and the Chinese government's macro-control policies in the property sector, domestic capital and property markets have undergone noticeable adjustments and are experiencing increasing uncertainties about the future market direction, he said.According to the statement, CCB's net interest income was 117.8 billion yuan, an increase of 15.33 billion, or 14.96 percent year on year.But compared to the same period of 2009, CCB's net interest spread for the first half of this year had dropped by two basis points to 2.32 percent, largely because the yield of interest- bearing assets decreased more than the cost of interest-bearing liabilities, it said.In the first half, CCB's interest income surged by 11.22 billion yuan, or 6.66 percent year on year to 179.65 billion yuan. While the interest expense was 61.85 billion yuan, a year-on-year decrease of 4.12 billion yuan, or 6.24 percent.The bank said its credit asset quality had steadily improved, with non-performing loans standing at 65.17 billion yuan by the end of June this year, a decrease of nearly 7 billion yuan over the end of 2009.
SHANGHAI, June 16 (Xinhua) -- Yu Zhengsheng, Party chief of Shanghai, the host city of the 2010 World Expo, met Wednesday with Vicente Gonzalez Loscertales, secretary-general of the International Exhibition Bureau (BIE).Yu extended gratitude to Loscertales for his assistance and support given to Shanghai in hosting the World Expo. He said the Expo operation is getting better and better as the organizer has been committed to resolving various problems found in the operation and strengthening communication with all participating countries and organizations.Loscertales said after almost six weeks, the organizer has made lots of achievements in improving the work and increasing the efficiency of the Expo operation.Running from May 1 to Oct. 31, the Expo, with the theme "Better City, Better Life," has drawn participation by an unprecedented 189 countries and 57 international organizations.The number of daily visitors to the Expo Park reached a new high Tuesday as 546,700 people entered the Park, breaking the earlier record of 524,900 set on June 5.

ZURICH, Switzerland, July 18 (Xinhua) -- Top Chinese legislator Wu Bangguo and Doris Leuthard, president of the Swiss Confederation, held talks on Sunday and agreed to expand their bilateral cooperation.Wu, chairman of the Standing Committee of China's National People's Congress (NPC), delivered Chinese President Hu Jintao's regards to Leuthard. He said China will work together with Switzerland to push forward the Sino-Swiss ties.The Chinese and Swiss economies are highly complementary and have large potential in economic cooperation, said Wu. China expects to make joint efforts with Switzerland to strengthen cooperation in such areas as financial service, environmental protection, green economy and low-carbon technology while deepening cooperation in traditional fields, he said.Leuthard highly commended the progress in Sino-Swiss relations in recent years.She said Switzerland, which is one of the earliest western countries to establish diplomatic ties with China, gives great attention to a friendly cooperation with China and is willing to deepen the bilateral ties. Switzerland regards China as an important partner and looks forward to carrying out cooperation in environmental protection, energy-saving and sustainable economic development, she added.She reaffirmed the Swiss government's stance on one-China policy.During the talks, the two leaders also exchanged views on global issues such as financial crisis and climate changes.Wu is here on an official goodwill visit to Switzerland. He is set to leave for Geneva to attend the third World Conference of Speakers of Parliament later on the day.
BEIJING, Aug. 14 (Xinhua) -- Chinese Vice Premier Hui Liangyu Saturday cautioned against more rain-triggered disasters such as flood and mudslide during the rain season, and demanded for strengthened preventive measures.Currently most parts of the nation is experiencing the flood season when geological disasters becomes rampant, especially in the mountainous areas in the western region, Hui told a national meeting on geological disaster prevention on Saturday.He said authorities should keep a clear mind on the grim situations and step up efforts to prevent and fight the disaster with scientific methods.Massive mudslides hit northwestern China's Zhouqu County in Gansu Province on Aug. 8, with death toll rising to 1,239 as of 4 p.m. Saturday, and 505 are still missing.On early Saturday, at least 38 people were missing after rain-triggered floods and landslides ravaged Wenchuan County in southwest China's Sichuan Province, the epicenter of an 8.0 magnitude earthquake which left about 87,000 people dead or missing more than two years ago.Hui has called for all-out rescue efforts in Wenchuan County's mudslide. He asked local authorities to promptly evacuate residents, and speedily restore transport and telecommunication facilities in the area.The Vice Premier asked the local water, meteorological, and land authorities to closely monitor the situation and issue prompt forecasts and warnings on the floods and rain.Monitoring geological risks should be immediately launched in the towns, villages, and areas along roads and railway tracks, Hui said.Dangerous zones should be marked and people should be prevented from entering such risky areas.Hui said more work was needed to be done to ensure residents have food to eat and water to drink. Shelters and medical access should also be priorities for those affected.Further, the Vice Premier asked local officials to intensify hygiene work in order to prevent epidemics.
BEIJING, July 5 (Xinhua) -- Donations to the Yushu quake zone in northwest China's Qinghai Province have exceeded 8.7 billion yuan (about 1.28 billion U.S. dollars) as of Monday noon, with about 7.9 billion yuan in cash and the remaining in relief materials, according to the Ministry of Civil Affairs.In a statement, the ministry said it had received 2.417 billion yuan and the Qinghai provincial government received over 2 billion yuan in donations, while the Red Cross Society of China and the China Charity Federation had each raised about 2 billion yuan.Nearly 2,700 people died after the 7.1-magnitude earthquake hit Qinghai's Yushu prefecture on April 14.
来源:资阳报