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China's State-owned Sinochem Corporation, one of the world's top 500 companies, had profits of more than eight billion yuan (US.1 billion) in 2007, up 95 percent over the previous year, the firm said on its web site.The Beijing-headquartered company didn't elaborate on these figures. Preliminary estimates showed that revenue topped 200 billion yuan, up 19 percent. Total assets exceeded 100 billion yuan. Sinochem, which began as a trading company in 1998, is involved in a range of businesses including agriculture, energy, chemicals, finance and real estate.Sinochem International, one of its subsidiaries, said last month that it would buy part of the business of Monsanto Company, a US-based agricultural company.Under the terms of the agreement, Sinochem will purchase the assets related to Monsanto's pesticide business and certain other assets in China's Taiwan Province and countries including the Philippines, Thailand, Vietnam, India, Pakistan and Bangladesh.

BEIJING, March 10 (Xinhua) -- The National Development and Reform Commission (NDRC), China's top economic planning agency, said on Monday the country's combined edible vegetable oil consumption stood at 23 million tons in 2007, 2 million tons more than a year earlier.     The country's total market supply last year reached 23.8 million tons, according to a statement on the NDRC website.     The NDRC said the current demand and supply of edible vegetable oil on the domestic market were balanced and could meet citizens' needs.     However, the NDRC and the State Grain Administration (SGA) called on their local branches to endeavor to maintain stable market supply as international soybean and edible oil prices had risen sharply recently.     The NDRC and the SGA ordered their local branches to accentuate the importance that the import of soybeans and edible vegetable oil would not be disrupted.     Two-thirds of edible oil materials in China, the largest global consumer, relies on imports. According to General Administration of Customs statistics, imports of edible oil and soybean reached 8.38 million tons and 30.82 million tons, respectively, last year, up 1.69 million tons and 2.58 million tons year on year.     The NDRC also asked local governments to track the inventory and price of edible oil price in real time and make efforts to maintain a sound market order.

China is moving in the direction of raising its caps on foreign ownership in banks but has no timetable for doing so, Liu Mingkang, head of the China Banking Regulatory Commission, said on Thursday. "It takes time, but it's the orientation -- we are moving forward," Liu told reporters after meeting with U.S. lawmakers on Capitol Hill. Asked whether he knew when the caps, currently set at 25 percent, would be lifted, Liu replied: "There is no timetable." U.S. Treasury Secretary Henry Paulson has been pushing hard in an effort to get China to raise the caps and improve the access U.S. firms have to China's financial sector. China's central bank governor, Zhou Xiaochuan, also said China needed to further assess the economic situation before deciding on more monetary tightening measures. "We already have some tightening policies, so we are not hurrying to make any further -- it takes time to look at the feedback," Zhou said. Liu and Zhou were part of a top-level Chinese delegation in Washington for two days of talks with Bush administration officials hosted by Paulson, as well as meetings with legislators upset over the huge U.S. trade deficit with China.

BEIJING - Chinese share prices rebounded by 1.88 percent on Tuesday with the Shanghai Composite Index, which covers both A and B shares, closing at 5,285.45 points at the end of morning session.The Shenzhen Component Index on the smaller bourse ended at 17,213.70  points, up 0.87 percent.The rise came after a fund has been approved to open for additional subscriptions late this week, which is believed to be a new signal from the government to back up the stock market.On November 4, China's Securities Regulatory Commission (CSRC) issued a notice ordering fund firms not to expand the promised scale of their funds within six months.Heavy weights drove up the share prices. Sinopec went up by 6.58 percent while the new market heavy weight PetroChina by 2.88 percent. China Shenhua rose by 2.36 percent.Steel shares also jumped, with Baosteel, the nation's biggest steel producer, rising 4.10 percent to 15.75 yuan, and with Anyang steel up by 9.39 percent to 10.25 yuan.On Monday, the benchmark Shanghai Composite Index dropped 2.4 percent, or 127.81 points, to close at 5,187.73 points, after falling to as low as 5,032.58 points in intra-day trading.Last week, the Shanghai Composite Index fell 8 percent to 5,315.54, the biggest weekly loss during the past nine years.

Chinese Premier Wen Jiabao shares a light moment with children orphaned due to the death of their parents from AIDS in Shangcai County, Central China's Henan Province Novermber 30, a day before the 20th World AIDS Day which fell on Saturday. [Xinhua] ZHENGZHOU -- Chinese Premier Wen Jiabao paid his second visit to China's worst AIDS-hit villages in Henan Province, a day before the 20th World AIDS Day. It was Wen's fifth face-to-face talks with AIDS patients or their family members since 2003."What's your name?""Zhang Shuwan.""Do you remember how your parents were dying?""No, I don't."This was a dialog between the visiting Premier and Zhang Shuwan, a 10-year-old girl, whose parents died of AIDS seven years ago, at the Chinese Red Ribbon Home, an orphanage at the Wangying Village of Lugang Township in Shangcai County on Friday morning.Wen was accompanied by Henan's Communist Party chief Xu Guangchun and Governor Li Chengyu.Upon learning that all the orphans are studying hard and with good results, Wen said with smile: "I have come to see, because I have kept you in my mind.""You are very unfortunate for losing your parents at a young age, but you are very lucky, as well, since there are lots of people in the country who have taken care of you and showed concern for you," said the premier, advising the children to walk out of the shadow of losing parents.He expressed his hopes that these children will study even harder to make themselves useful for the people, the nation and the society, in the future. He asked them to be happy and take an optimistic attitude toward life.Afterwards, the premier sang a song together with the children. He also visited their dormitory, played table tennis, and had lunch with them.Wen first visited Shangcai County in 2005 on the eve of Spring Festival, China's traditional Lunar New Year.The county in Henan is well known for high AIDS incidence caused by illegal blood deals in 1990s. Among 38 worst AIDS-hit villages in Henan, 22 are located in Shangcai.Premier Wen Jiabao chats with children at the Red Ribbon Home, an orphanage in Shangcai County, Henan Province November 30, 2007. [Xinhua]The premier's second stop was Wenlou village, home to 373 HIV carriers, one tenth of the village population. And 360 of them have developed AIDS."I came here two years ago," Wen told some AIDS patients and medical staff, while visiting the village's clinic.Kong Chunyi, one of the patients and a worker of the village's mushroom factory, said he has been quite fine with the help of the government's special policies for this group of people.The Chinese government provides AIDS patients, who have been covered by social security umbrella, with free medicine; provides free consultation to all those who are voluntary to consult on the disease; provides free schooling to AIDS-caused orphans; and provides free consultation, medical check, and medical treatment to pregnant women from areas which have been made exemplary for comprehensive control over AIDS, so as to reduce the spreading of HIV between mother and infant; and make all AIDS patients accessible to financial assistance from the government.During his visit, the premier showed his concern for the problem of drugfastness among some patients. He asked Health Minister Chen Zhu, who was with him, to study the issue.In talks with some medical staff working with the clinic, Wen thanked them for their devotion.The premier also encouraged the patients to be confident and optimistic to face the illness.Wenlou Village is a vegetable production base, but its products do not sell well due to prejudice by some outsiders. Wen called for greater awareness about the disease among the public so as to eliminate prejudice against AIDS patients."You can tell them that the premier has eaten Wenlou's vegetable today," he told the villagers.According to the villagers, with the help of the government, great changes have taken place at the village. The village is gradually out of the shadow of AIDS. About a dozen of children in the village go to college every year."I believe that Wenlou will become better and better day by day," said the premier.In Shangcai County, there are some "simulation families" formed by volunteer "parents" and AIDS-caused orphans.On Friday afternoon, the premier visited one of them with father Hu Shaoling, mother Zhang Ping, and four orphans.In his talks with the "family", Wen questioned the "family members" carefully. "It is not a matter of money, but a matter of passion," he said, upon learning that the "mother" only gets a pay of 500 yuan (about 67 U.S. dollars) per month.The premier told the kids, "Your 'dad' and 'mum' are caring and kind people. You must study hard. Don't forget them and treat them with filial respect when you grow up."At another "simulation family", with five orphans, Wen wrote an inscription, "Study hard for a beautiful future."Later the day, Wen presided over a workshop attended by experts and local officials. In his speech, the premier urged local people to prepare for a protracted war against AIDS.On the same day, Chinese President Hu Jintao visited doctors and communities in north Beijing, talking and shaking hands with HIV carriers to encourage the people "not to be daunted by HIV."An official report released on Thursday said that China officially reported 223,501 HIV contracted cases, including 62,838 AIDS patients, by October this year while about 700,000 people are estimated to be living with HIV/AIDS.