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BEIJING, Aug. 29 (Xinhua) -- Shanghai Pudong Development (SPD) Bank said its first-half-year net profit rose 33.92 percent from one year earlier due largely to lending boom and increased commission fees.Net profits climbed to 9.08 billion yuan (1.34 billion U.S. dollars) in the first six months of this year, the Shanghai-based lender said in a statement filed with the Shanghai Stock Exchange late Sunday.Its growth in profits stemmed from rising operating revenues, a result of growing net interest earnings, increased fee incomes and the improved quality of assets, according to the statement.Earnings per share stood at 0.791 yuan, up 20.21 percent from one year earlier. Also, operating revenues grew 36.42 percent to 22.75 billion yuan in the first half of 2010, it said.Total assets for the commercial bank hit 1.781 trillion yuan by the end of June, up 9.77 percent from the end of 2009.
BEIJING, Oct. 15 (Xinhua) -- Foreign direct investment (FDI) in China in September rose 6.14 percent year on year to 8.384 billion U.S. dollars, bringing the country's FDI inflow for the first nine months back to pre-financial crisis level.The September figure brought the total amount for the first nine months of this year to 74.34 billion U.S. dollars, rising 16.6 percent year on year, spokesman with the Ministry of Commerce (MOC) Yao Jian said Friday at a press conference.The January-September FDI figure suggested China's FDI inflow had returned to pre-crisis level, Yao said.According to MOC statistics, China received 74.37 billion U.S. dollars of FDI in the first nine months of 2008.The September FDI increase quickened from the year-on-year growth of 1.38 percent in August.The stable increase in China's FDI inflow was mainly boosted by the country's strong economic momentum, said Lu Zhengwei, chief analyst at the Industrial Bank.Although China's economic growth had eased, it was still strong, Lu said.China's GDP increased 10.3 percent year on year in the second quarter of this year, decelerating from first quarter's 11.9 percent. The National Bureau of Statistics is scheduled to release economic data for the third quarter next week.China's manufacturing sector received 47.6 percent of FDI inflow in the first nine months, while services industry got 45 percent, Yao said.A total of 19,209 foreign-invested enterprises were approved for establishment during the period, up 17.5 percent from one year earlier.Yao expected China's FDI inflow to hit 420 billion U.S. dollars in the country's 11th Five-year Plan (2006-2010) period, which was 1.5 times as much as that in the 2001-2005 period. This would make China the world's second largest destination for FDI.During the first nine months, China's outbound investment, excluding the financial sector, totaled 36.27 billion U.S. dollars, up 10.4 percent, he said. Some 30.9 percent of the investment outflow was for acquisitions of companies.

TIANJIN, Oct. 6 (Xinhua) -- China's top climate change official said on Wednesday that the country's greenhouse gas emissions would peak earlier than expected if developed countries complied with international protocols."We will try to get past the peak of emissions as early as possible, but this also hinges on how much money the developed nations will offer and what technology they will transfer, as required by the international protocols," Xie Zhenhua, who is also vice minister of the National Development and Reform Commission, told reporters on the sidelines of the ongoing United Nations climate talks in northern China's Tianjin."The more money they provide, or the earlier the money arrives, the sooner we should be able to pass the emissions peak," Xie said.He noted some developed countries, even with a per capita GDP of more than 40,000 U.S. dollars per year, have yet to reach their emissions peak as their greenhouse gas emissions continue to rise."Under such circumstances, how can you ask China, with a per capita GDP just over 3,000 U.S. dollars, to foresee its peak?" he asked.After three rounds of talks this year, which are moving slowly towards a negotiated text for the Cancun meeting, more than 3,000 delegates from 194 nations gathered in Tianjin to speed the search for common ground prior to a major meeting in Mexico's Cancun at the end of the year.However, the gap remains wide between developed and developing nations as rich nations remain wary of green technology transfers and providing additional financing to poorer nations.
UNITED NATIONS, Oct. 7 (Xinhua) -- China on Thursday called on all states to make joint efforts to advance the international disarmament, arms control and non-proliferation process.Wang Qun, the Chinese ambassador for disarmament affairs, made the appeal in a speech delivered at the General Debate of the First Committee of the 65th Session of the UN General Assembly."We welcome the positive progress that has been made in the international arms control and disarmament field since the beginning of this year. To advance the international disarmament, arms control and non-proliferation process, joint and unremitting efforts are called for on the part of the entire international community," Wang said.He said that China welcomes the recent signing of a new bilateral nuclear disarmament treaty between the United States and the Russian Federation, and wishes to see the early ratification of the treaty."In the meantime, we hope that they, as countries with largest nuclear arsenals and special and primary responsibility for nuclear disarmament, will continue to make drastic and substantive reductions in their nuclear arsenals, so as to create the necessary conditions for the ultimate realization of complete and thorough nuclear disarmament," he said."When conditions are ripe, other nuclear-weapon states should also join the multilateral negotiations on nuclear disarmament," he added.On issues concerning nuclear non-proliferation, Wang urged the international community to work to safeguard the international nuclear non-proliferation regime and strengthen the safeguards function of the International Atomic Energy Agency."It is essential that all states strictly fulfill their non- proliferation obligations and strengthen their export control systems," he said. "Practices of utilizationism and double standards should be discarded."The ambassador stressed that China wishes to see peaceful solution to regional nuclear issues through dialogues and negotiations, and hopes that the six-party talks on the nuclear issue on the Korean Peninsula could be resumed and the dialogue between Iran and E3+3 -- the United States, Russia, Britain, China, France and Germany -- could be restarted at an early date.REVITALIZING DISARMAMENT TALKSWang highlighted the importance of revitalizing the work of the Conference on Disarmament (CD) so as to take forward multilateral disarmament negotiations."We are of the view that CD's position and role are irreplaceable," he said.In this regard, Wang stressed the three essential principles in advancing the work of CD -- enhance CD's authority and position; respect CD's rules of procedure, particularly its consensus rule; and treat the legitimate security concerns of each member state as equal and address them in an earnest manner."China, for its part, has all along been active and supportive of CD's work," he said."In the meantime, it is also imperative that CD reactivate its substantive work on such core issues as the prevention of an arms race in outer space, nuclear disarmament and security assurances for non-nuclear-weapon states," he added.SAFEGUARDING GLOBAL COMMON SPACEThe ambassador also called for the "active pursuit of a preventive diplomacy in safeguarding a global common space," including outer space and cyber space."Outer space is the common wealth of mankind, and the peaceful use and exploration of outer space is in the interest of the whole human-being," he said, urging the early conclusion of a new legal instrument on the prevention of weaponization in outer space.Cyber space constitutes a new dimension of multilateral arms control diplomacy, Wang said."States should exercise effective administration over cyber space and maintain its security, and avoid it from becoming a new battlefield and a tool of interfering in other countries' internal affairs," he said.China hopes that the international community will work on the basis of a first UN report on the issue of information security to "explore effective ways of combating cyber threats and preserving the sound international cyber order," Wang added.
BEIJING, Oct. 15 (Xinhua) -- Property prices in 70 major Chinese cities rose 9.1 percent year on year in September, the lowest growth rate so far this year, the National Bureau of Statistics (NBS) said Friday.The rate was down 0.2 percentage points from the 9.3-percent increase in August, but prices were up 0.5 percent month on month, a statement on the NBS website said.New home prices climbed 11.3 percent year on year in September, up 0.5 percent from August.Prices for second-hand homes were up 6.2 percent from a year earlier, a rise of 0.5 percent from August.Real estate investment continued to expand in the first three quarters, with the total standing at 3.4 trillion yuan (511.4 billion U.S. dollars), up 36.4 percent from the same period in 2009, the statement said.The property price growth rate peaked this year at 12.8 percent in April.
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