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SAN FRANCISCO, Nov. 9 (Xinhua) -- Cisco Systems Inc., the world 's biggest networking equipment maker, on Wednesday reported that its profit fell about 7.9 percent in the most recent quarter.In the company's fiscal 2012 first quarter ending on Oct. 29, Cisco posted its net income of nearly 1.78 billion U.S. dollars, compared with 1.93 billion dollars in the same period a year earlier.Excluding some items, earnings per share in the quarter were 43 cents, better than the 39 cents estimated by analysts, according to Bloomberg.Cisco's sales in the quarter reached 11.26 billion dollars, an increase of 4.7 percent year-on-year and also topped analysts' projection of about 11 billion dollars."We delivered a solid quarter," John Chambers, Cisco's chief executive officer, said in a statement."We've completed the majority of our restructuring and have organized Cisco to successfully execute against our strategy of providing intelligent networks, architectures and integrated products that solve customers' business problems," he added.

SHANGHAI, Jan. 11 (Xinhua) -- China has allowed the Bank of East Asia (BEA) to issue yuan-denominated bonds in Hong Kong for a second time, about three years after it became the first foreign-invested bank to make a yuan bond issuance, the bank said Wednesday.BEA China Ltd, a wholly-owned subsidiary of the BEA, was given the approval by the National Development and Reform Commission of China to issue yuan bonds in Hong Kong, it said.Details on the amounts and timing of the offerings weren't available. In 2009, in a major landmark, the BEA issued its first yuan bonds in Hong Kong in an aggregate principal amount of 4 billion yuan (630 million U.S. dollars).The BEA was among the first foreign-invested banks to be given the green light to issue yuan-denominated bonds in Hong Kong, a move analysts say will bolster the international influence of the Chinese currency, also known as renminbi.Sun Minjie, deputy head of BEA China, said the second bond issuance will give the bank stable access to capital, improve its debt portfolio, and support its development on the Chinese mainland.

BEIJING, Oct. 10 (Xinhuanet) -- China's small businesses turned to be the first to ring the alarm as the country is walking a fine line between fighting inflation and maintaining growth.Some entrepreneurs have disappeared and others have jumped off buildings almost every week since April in Wenzhou City, an entrepreneurial capital in eastern China's Zhejiang province, Xinhua reported.The sudden disappearance of the business owners has revealed a surprisingly gloomy picture for the small and medium-sized enterprises (SMEs) in China.RUNAWAY BOSSESAccording to a Xinhua investigation, at least 80 cash-strapped businesspeople in Wenzhou have skipped town or declared bankruptcy to invalidate more than 10 billion yuan (1.6 billion U.S. dollars) in debt.Just last month, two local entrepreneurs in Wenzhou killed themselves by jumping off the buildings and another broke his leg in a similar suicide attempt.The tragedies in Wenzhou are extreme cases of private SMEs struggling to survive a liquidity crunch amid the country's macro control policies set to curb inflation and cool down the over-heated property market.In Wenzhou, one-fifth of the 360,000 small and mid-sized businesses have stopped operating due to cash shortages, according to the city's council for small and medium-sized enterprises.Of the 855 companies surveyed by the Wenzhou Economic and Information Commission, more than 76 percent said they are almost out of money and are struggling to continue production.But many cash-strapped firms are unable to borrow money from banks, and some have turned to China's underground lending market to pool money from individuals and firms.The steep rates of the informal loans pushed some businesses to the brink of collapse.

BEIJING, Oct. 10 (Xinhuanet) -- China's small businesses turned to be the first to ring the alarm as the country is walking a fine line between fighting inflation and maintaining growth.Some entrepreneurs have disappeared and others have jumped off buildings almost every week since April in Wenzhou City, an entrepreneurial capital in eastern China's Zhejiang province, Xinhua reported.The sudden disappearance of the business owners has revealed a surprisingly gloomy picture for the small and medium-sized enterprises (SMEs) in China.RUNAWAY BOSSESAccording to a Xinhua investigation, at least 80 cash-strapped businesspeople in Wenzhou have skipped town or declared bankruptcy to invalidate more than 10 billion yuan (1.6 billion U.S. dollars) in debt.Just last month, two local entrepreneurs in Wenzhou killed themselves by jumping off the buildings and another broke his leg in a similar suicide attempt.The tragedies in Wenzhou are extreme cases of private SMEs struggling to survive a liquidity crunch amid the country's macro control policies set to curb inflation and cool down the over-heated property market.In Wenzhou, one-fifth of the 360,000 small and mid-sized businesses have stopped operating due to cash shortages, according to the city's council for small and medium-sized enterprises.Of the 855 companies surveyed by the Wenzhou Economic and Information Commission, more than 76 percent said they are almost out of money and are struggling to continue production.But many cash-strapped firms are unable to borrow money from banks, and some have turned to China's underground lending market to pool money from individuals and firms.The steep rates of the informal loans pushed some businesses to the brink of collapse.

TAIPEI, Dec. 10 (Xinhua) -- A televised debate among three candidates for Taiwan's next deputy leader was staged Saturday, highlighting cross-Strait political and economic issues, for next month's Taiwan leader election.The three candidates touched upon topics such as stances on the reunification of Taiwan and the Chinese mainland and the "Taiwan independence," last year's signing of the cross-Strait Economic Cooperation Framework Agreement (ECFA), among other cross-Strait issues, during the second face-to-face debate before the Jan. 14, 2012 election.Wu Den-yih, who is incumbent Taiwanese leader Ma Ying-jeou's running mate and currently chief of Taiwan's executive authority, said the signing of the ECFA aims to "help people do business and enhance Taiwan's competitiveness." Ma is seeking a second term.The ECFA did not speed up Taiwan's inclination toward the mainland market, but ensured the island's utmost interests instead, Wu said, adding that if Ma, who is also chairman of Taiwan's ruling Kuomintang (KMT) party, did not win during the upcoming election, cross-Strait peace and stability would not be maintained.However, Wu's main rival Su Jia-chyuan, the running mate of Tsai Ing-wen who campaigned for Taiwan's next leader representing major opposition Democratic Progressive Party (DPP), claimed that Taiwan is a "sovereign state" and its fate would be decided by Taiwanese themselves, no matter it would become independent or unified with the mainland, or maintain the status quo.Taiwan's future would be guaranteed only if the so-called "Taiwan consensus," put forward by Tsai, was realized, Su said during the debate.Another debater, Lin Ruey-shiung, 72, the running mate of People First Party (PFP) candidate James Soong, called for the signing of a cross-Strait peace accord, and said that the Chinese nation was fundamentally one family, with reunification benefiting both and secession hurting both.Lin said, as a member of the Chinese nation, Taiwan must be reunified with the mainland in the future, without wars, and it is the aspiration of all Taiwanese that people of both sides could freely visit each other.The three candidates also debated on anti-corruption, financial deficit and social equity.Saturday's debate among the candidates for deputy leader was the second of a three-part series. A debate of the Taiwan leader hopefuls was staged last Saturday, and they will spar again on Dec. 17.