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BEIJING, Aug 5(Xinhunet) -- China's machinery industry has rebounded during the first half of this year, but the momentum is likely to slow as the country's economy cools.The machinery industry has grown by 37 percent during the first six months of 2010, with a total output value of 6.59 trillion yuan, according to the China Machinery Industry Federation, a quasi-governmental institution that oversees growth of China's machinery sector.The machinery industry, which has benefited from the government's 4 trillion yuan investment spending spree, enjoyed expansion in large-scale construction projects over the last year. The construction machinery sector reported 54 percent growth during the first half of this year, according to the federation.The strong growth of the industry is based on preliminary statements by several listed machinery companies submitted to the stock exchange.Shanghai-listed Zoomlion Heavy Industry Science and Technology Development Co, which is also planning to launch a listing in Hong Kong, predicted its profit would grow by 50 percent to 100 percent over the first half this year.Sany Heavy Industry Co is also expected to record 85 percent growth this year, according to Ping An Securities. The maker has already reported a growth rate of 170 percent in profit during the first quarter of this year.However, not all machinery industry sectors are reporting the same momentum as domestic demand has decreased this year. New orders in power generation equipment, transmission and substation equipment as well as heavy machinery, have rolled back this year."It is unlikely to see significant growth in the output of power equipment this year and it will probably stand around 117 million kW since the base figure is already huge," according to Cai Weici, vice-president of the federation, adding that China's output of power equipment already makes up half of the world's total."There is also less demand for heavy machinery used in steel production because the industry is eliminating outdated productivity, thus reducing market demand," Cai said.Fixed-assets investment in the machinery industry which has maintained a growth rate of over 40 percent since 2004 slowed down by 27 percent to 79.8 billion yuan, signaling less reserved strength for further growth.In term of exports, the machinery industry will be exposed to several uncertain factors including a more flexible yuan exchange rate as well as rising labor and raw material costs.The federation forecasts the industry's growth rate will be 20 percent in 2010.

BEIJING, July 25 (Xinhua) -- Chinese Vice President Xi Jinping Sunday called on overseas Chinese youths participating in a "root-seeking tour" to carry on the traditions of their ancestors, feed their mind with spiritual nutrition from the Chinese history and culture, and become communicators between cultures.Xi told more than 6,000 overseas Chinese youths from 51 countries and regions including Hong Kong, Macao and Taiwan, that they should become active promoters of cultural exchanges.Xi enouraged the youths to actively participate in various forms of cultural exchange activities, let more people know about the rich Chinese culture, and become "civilian ambassadors" between China and the places they live in.Chinese Vice President Xi Jinping delivers a speech at the opening ceremony of the "2010 Chinese Root-Seeking Tour" summer camp in Beijing, July 25, 2010.Xi made the call in a keynote speech at the opening ceremony of the "2010 Chinese Root-Seeking Tour" summer camp held at the Great Hall of the People.Xi said that overseas Chinese coming back to China to seek their roots show that they have a strong "sense of closeness" toward their ancestral home, and understand that their blood is Chinese and they are willing to carry on the Chinese culture that has lasted thousands of years."The Chinese culture is the only one of the world's ancient civilizations that continuously lasted 5,000 years. The unique cultural traditions are the common wealth of all the Chinese at home and abroad," he said.Xi stressed that China would always adhere to the road of "development, peace and cooperation" and make greater contributions to the progress of mankind's civilization.Since 1999, six sessions of the "Chinese Root-Seeking Tour" summer camp have been held by the State Council Overseas Chinese Affairs Office and the Chinese Overseas Exchange Association. During the following three days, camp members will visit historical sites and scenic spots in Beijing and have a get-together with their local peers. 

BEIJING, July 19 (Xinhuanet) -- Expo 2010 Shanghai is proving to be a boon for successful Chinese entrepreneurs eager to tap into the global market.The 184-day event, which is predicted to attract an estimated 4 million foreign visitors along with global media coverage, is considered to be a golden opportunity for Chinese companies to raise their brands to an international level and explore business opportunities.According to survey released last year by the information office of Shanghai Municipal Government, more than a quarter of the respondents were hoping to visit Shanghai during the Expo to seek future business.The online survey polled 503 foreigners in 44 countries and regions across the world, 30 percent of whom were senior corporate executives.Of the Expo's 58 partners and official sponsors, 47 are Chinese companies, 25 are from Shanghai, 15 are from Beijing and seven from other parts of the country. They contributed a total of more than 7 billion yuan ( billion) in sponsorship fees to the event, averaging more than 100 million each.While the sums are large, the contributors represent only a small portion of the number Chinese firms that want a slice of the Expo pie. Those who are not qualified to partner an official sponsor have sought other means of gaining brand exposure."The Expo is a once-in-a-century opportunity for us to promote our brand on an international scale," said Zhang Yingguang, a public relations manager for Tsingdao Beer, the Chinese industry leader based in Qingdao, Shandong province.The company launched a flurry of billboard advertisements on the city's busiest streets, as well as in metro stations and commercial areas. The ads targeted foreigners by trying to teach them Chinese phrases about drinking.It also made a presence in the Zero Carbon Pavilion at the Expo, where it contributed lamps made out of beer bottles and launched a gourmet TV show with a local TV station.