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BEIJING, July 20 (Xinhua) -- Chinese President Hu Jintao called on diplomats to play a bigger role in serving the country's reform and national interests as China is seeking a stable and rapid development amid global economic downturn.     "China is at a crucial moment in dealing with the financial crisis and maintaining rapid economic development ... diplomacy must better serve the overall situation of reform, development and stability," said Hu while addressing a national meeting attended by diplomatic envoys, which ended Monday in Beijing. Chinese President Hu Jintao (L Front) meets with the participants of a meeting for Chinese diplomats prior to the meeting in Beijing, capital of China, July 17, 2009. The 11th meeting for Chinese diplomats was held in Beijing on July 17-20.The nine members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including top legislator Wu Bangguo and Premier Wen Jiabao, attended the meeting.     "Under the new situation, diplomacy must rely on, serve and promote the development. It should focus on the task of ensuring growth, people's life and stability," He said.     Hu urged Chinese envoys to join the global efforts for promoting economic growth, safeguard national sovereignty and security, firmly follow the one-China policy and maintain stability.     China will stick to the independent foreign policy of peace, pursue the path of peaceful development and develop friendly cooperation with all the countries in line with the Five Principles of Peaceful Co-existence, Hu said.     Chinese Premier Wen Jiabao also addressed the meeting, saying "the recovery of the global economy will be a slow process with twists and turns, there must be a long-term preparedness to effectively deal with (the global downturn)".     The global financial crisis has plunged the world into deep recession, and it's difficult to say the global downturn has reached the bottom, Wen said.

URUMQI, Aug. 13 (Xinhua) -- A delegation of foreign diplomats in China on Thursday visited Shihezi city in northwest China' s Xinjiang Uygur Autonomous Region, voicing their appreciation to the development model of the city.     Shihezi city, some 150 km northwest of Urumqi, is a young city which was established in the 1950s in the gobi of Xinjiang. With the development of some 60 years, the city has become one of the most developed cities in the autonomous region.     In the early phase of the city' s development, Shihezi focused on reclaiming land in the desert for agriculture. Meanwhile, the city began to establish its industry system and high-tech in recent years in order to reach a comprehensive development. Bangladeshi Ambassador to China Munshi Faiz Ahmad takes photoes for peaches at a modern agricultural garden in Shihezi, northwest China's Xinjiang Uygur Autonomous Region, Aug. 13, 2009.Mohamed Abd El Aziz, general manager of Xinjiang Alzeeh Textile Co. Ltd, a Saudi-invested private company, said that the local government has launched a series of preferable measures to attract investments.     After visiting the workshop of the textile company, which has an investment of 50 million U.S. dollars and covers an area of 200,000 square meters, Kuwaiti ambassador Faisal Rashed J. Al-Ghais said he has the plan to introduce Kuwaiti companies to invest here to boost bilateral cooperation of the two sides.     At present, textile products of the company are exported to European and Asian markets.     Besides industry development, the city has also paid much attention to the development of agricultural technology, particularly the irrigation system in the water-shortage area. Diplomats visit a workshop of a textile company in Shihezi, northwest China's Xinjiang Uygur Autonomous Region, Aug. 13, 2009The diplomats also visited Xinjiang Tianye Group Co. Ltd, a leading company of water-saving technology and recycle economy based in Shihezi.     Syrian ambassador Khalaf Al-Jarad said there is no waste and pollution by introducing the technology of the company, which realizes the aim of fully making use of resources.     Kuwaiti ambassador Faisal Rashed J. Al-Ghais said it' s a good method to develop this kind of technology in the area and set a good example for other countries and regions in water-shortage areas to develop agriculture and recycle economy.     Togolese ambassador to China Nolama Ta Ama, also head of the diplomatic delegation, voiced his appreciation to the achievements of the reclamation projects in Shihezi.     "We appreciate your efforts of reclamation to build such a beautiful and livable city in the desert," said Ama, adding that the people here live harmoniously with each other and with the nature.     The foreign diplomats, who will leave for Beijing on Friday, also visited a museum on Xinjiang' s reclamation and Shihezi University in the city.

BEIJING, Aug. 29 (Xinhua) -- Industrial enterprises in 22 Chinese provinces, regions and municipalities generated 1.11 trillion yuan (163 billion U.S. dollars) of profit in the first seven months, down 17.3 percent from the same period last year, according to the latest official figures.     The decline is 3.8 percentage points lower than that in the first six months, the National Bureau of Statistics (NBS) said in a statement Friday.     The revenues gathered by the industrial companies' core businesses reached 21.4 trillion yuan in the first seven months, up 0.9 percent from last year. The growth rate is 0.5 percentage points higher than that in the first six months.     Of the 39 industrial sectors, 14 achieved a rebound in profit growth, nine recorded a slow-down in profit declines and four turned slumping profit to rebounding profit.     The 22 regions refer to China's provinces, regions and municipalities minus Beijing, Inner Mongolia Autonomous Region, Hunan, Guangdong, Anhui, Hainan, Chongqing, Yunnan and Tibet Autonomous Region.     The NBS used to publicize national industrial profit every two months, but began to issue the information monthly to improve monitoring frequency on economy this year. Only 22 provinces, regions or municipalities now provide monthly industrial profit data.

BEIJING, June 29 -- Chinese listed banks, which have lent record high amounts in the first half, are likely to report lower profit growth in the period due to narrowing interest spreads and higher provisioning requirements, industry analysts said.     "We are expecting a 7 to 8 percent year-on-year profit fall among the 14 listed banks in the first half-year," said Wang Liwen, banking analyst with Shanghai-based Guotai Junan Securities Co, citing stretched interest spreads as the major reason.     In 2008, the net interest rate spread for banks ranged from 2.45 percentage points to 3.62 percentage points, with the average figure hovering around 3 percentage points. This year, as the government cut interest rates several times to spur economic growth amid the global financial crisis, the net interest rate spread is expected to be lower, at around 2.36 percentage points. Clients walk into the Suzhou branch of Bank of Ningbo in Suzhou, east China's Jiangsu Province, March 27, 2009.The bank, the first listed lender to file a mid-term report, said its first-half profits would drop nearly 5 percent from a year earlier    "A drop of 0.7 percentage points in the average net interest rate spread could mean some 7-billion-yuan decrease in the interest yield for each trillion yuan of new loans," said Wang.     Chinese banks extended a record 7.37 trillion yuan of new loans in the first half, triple the amount offered in the same period a year earlier and 47 percent more than the government's full-year target, after lending restrictions were eased in November to stem an economic slowdown.     However, most securities firms' reports said the country's 14 listed banks might post an average profit decrease ranging from 6 percent to 10 percent year-on-year in the first six months.     According to Wind Info, a financial data provider, the 14 listed banks reported a net profit of 232.7 billion yuan in the first half of 2008, an increase of 73 percent year-on-year. But this year, the net profit could probably stand at 210 billion yuan, down 10 percent on a yearly basis.     Bank of Ningbo, for instance, on July 14 announced no more than a 5-percent decease in net profit in its pre-released semi-annual report to the Shenzhen bourse. It is the first Chinese listed bank to report a profit fall in the first half.     Wang Yifeng, an analyst at TX Investment Consulting, said the improved provision coverage ratio requirement might also cripple profits at listed banks.     To prevent potential risks arising from the lending spree, China Banking Regulatory Commission raised the minimum provision coverage ratio requirement to 150 percent from 130 percent earlier this year.     "The increase will mainly eat into the profits of several large State-controlled banks as they are still not up to the new requirements," said Wang.     But as the squeezed spreads bottom out in the second half, most analysts said listed banks would still post positive growth for the whole year.     "Thanks to the widened interest rate spreads and lower loan cost in the following months, we are expecting a 10-percent growth in profits overall this year," said Liu Yinghua, an analyst with Shenzhen-based Ping An Securities.

BEIJING, Oct. 14 (Xinhua) -- China on Wednesday proposed closer cooperation among members of a regional security group to tackle the world economic recession.     "Confronted with the global financial crisis and aiming at a steady economic growth, member states of Shanghai Cooperation Organization (SCO) should work together and seek mutual benefit," Chinese Vice Premier Li Keqiang told a SCO business forum in Beijing.     The SCO was founded in 2001 to enhance security cooperation among its six member states, namely, China, Russia, Uzbekistan, Tajikistan, Kyrgyzstan and Kazakhstan. Mongolia, India, Iran and Pakistan are observers to the regional group. Chinese Vice Premier Li Keqiang attends a business forum of Shanghai Cooperation Organization (SCO) in Beijing, capital of China, Oct. 14, 2009    "Despite the world financial crisis, the trade volume between China and some SCO member states has been growing over the past year," Li said.     "The crisis didn't shake up the foundation for SCO states' cooperation. Instead, it offered more opportunities for them to work together," Li said, citing the fact that SCO members are complementary in economies and have an increasingly-connected market.     Although the total population and territories of SCO member states amounted to a quarter and one fifth of the world's total, their overall economic scale and trade volume made up only the world's 11 percent or 10 percent respectively, Li said.     "Thus, there is a huge potential for SCO member states to expand economic and technology cooperation," Li said.     He called for SCO member states to carry out the joint actions to deal with the global slump and accelerate the process of trade and investment liberalization.     He proposed promoting the projects that involved and benefited multiple parties, building infrastructure networks of transportation, communications and energy.     It was necessary to step up cooperation in modern agriculture, emerging industries, high-tech and social welfare so as to benefit the people, Li said.     He vowed that China will unswervingly pursue the path of peaceful development, take a more active part in SCO affairs, fully participate in regional economic and regional cooperation in a bid to work for the welfare of 1.5 billion people within the SCO member states.     The business forum was an important event under the framework of the eighth SCO prime ministers' meeting, which took place on Wednesday.