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BEIJING, Nov. 20 (Xinhua) -- Profits of China's state-owned enterprises (SOEs) administered by the central government more than doubled in October from a year ago after months of declines, a senior official said here on Friday.     The 132 central SOEs reaped a profit of 79.5 billion yuan (11.64 billion U.S. dollars) in October, up 151 percent year on year, said Huang Shuhe, deputy director of the State-owed Assets Supervision and Administration Commission (SASAC) at the 2009 Annual CEO Forum.     In October, revenues surged by 22 percent from a year ago to nearly 1.16 trillion yuan, Huang said.     Their profits during Jan-Oct was 633.8 billion yuan, while revenues amounted to 9.83 trillion yuan during the same period.     Huang also noted 24 central SOEs had entered the rank of Fortune 500 companies.     "China's companies still face difficulties and great challenges due to roaring raw material prices, huge environmental pressure and rampant protectionism triggered by the financial crisis," he said.     He said the companies should further enhance independent innovation, improve corporate governance and accelerate the pace of "go global" to compete with foreign brands.

JINAN, Dec. 6 (Xinhua) -- China's Yanzhou Coal Mining Co. Ltd. has got an official approval to take over Australian coal mining company Felix Resources, according to the company's bulletin on the Hong Kong Stock Exchange on Friday.     The deal involving 3.3 billion Australian dollars (3 billion U.S. dollars) in a contractual agreement reached by the two companies in August would be the largest of its kind between Chinese and Australian firms.     Yanzhou Coal said in the bulletin that the National Commission of Development and Reform has approved the company's bid to take over 100 percent of the stake in Felix.     The company said that after the takeover of Felix, it would obtain an approved coal reserve of 1.5 billion tons in Australia. Its annual coal output in Australia is expected to exceed 10 million tons, accounting for one third of the company's production in China.     Yanzhou Coal, headquartered in east China's Shandong Province, is listed on stock exchanges in Hong Kong, New York and Shanghai. It owns Austar Coal Mine in Australia, and mines in north China's Shanxi Province and Shandong Province, according to information on the company's website.

BEIJING, Nov. 18 (Xinhua) -- China disagrees to the suggestion of a "Group of Two" (G2), Chinese Premier Wen Jiabao said at a meeting with visiting U.S. President Barack Obama here on Wednesday.     China is still a developing country with a huge population and has a long way to go before it becomes modernized, Wen said, stressing "We must always keep sober-minded over it".Chinese Premier Wen Jiabao meets visiting U.S. President Barack Obama in Beijing on Nov. 18, 2009. China pursues the independent foreign policy of peace and will not align with any country or country blocks, Wen said.     Global issues should decided by all nations in the world, rather than one or two countries, he added.     "Meanwhile, we believe Sino-U.S. cooperation can play a unique role in advancing the establishment of the new international political and economic order, as well as promoting world peace, stability and prosperity," Wen said.     Wen noted that the bilateral trade volume between China and the United States has increased greatly since the two countries established diplomatic ties 30 years ago. Chinese Premier Wen Jiabao meets visiting U.S. President Barack Obama in Beijing on Nov. 18, 2009    "This is in the fundamental interests of both countries and their people," Wen said. "We do not pursue trade surplus and I hope the United States would lift its policy of restricting high-tech products exports to China and increase their proportion in the U.S. exports to China.     "Meanwhile, our two countries should strengthen mutual investment and cooperation in such fields as energy, environmental protection and high technology for a more balanced bilateral trade," Wen said.     The revival of world trade and investment is beneficial to the global effort to cope with the financial crisis and help accelerate the recovery of the world economy, he said.     "China and the United States should work together to fight against protectionism in trade and investment," Wen said.     Obama, who described U.S.-China relations as of global significance, said U.S.-China cooperation is crucial as far as major global issues such as economic recovery, climate change and regional and global peace are concerned.     He hoped the two countries would abandon distrust and misunderstanding, strengthen exchange and cooperation, so as to push U.S.-China relations forward.     The United States appreciates and supports the Chinese government's efforts in developing the economy and reducing poverty, said Obama, adding that the development of China is beneficial to the world.     The United States and China are important trade partners for each other, which has brought huge benefits to both countries, while trade protectionism does no good to either side, Obama said.     He said the United States appreciates China's efforts to adjustthe economic structure, expand domestic demand, protect intellectual property rights and reform the Renminbi exchange rateregime.     The United States would properly handle bilateral trade frictions so that they would not harm the interests of the two countries, Obama said.     The United States has noted China's concern over the export control to China and is willing to take measures and increase high-tech product exports to China, he added.     Before their formal meeting in the State Guesthouse Wednesday morning, Wen said Obama's fruitful visit, the first state visit to China since he took office in January, would be of far-reaching significance.     He expressed his "sincere hope" that Obama's China visit would lift the comprehensive and cooperative China-US relations to a new level.     "The history of Sino-US relations has made it clear that cooperation benefits both sides while confrontation results in harms, and mutual trust brings progress while suspicion causes setbacks," Wen said.     Cooperation is better than containment, dialogue is better than confrontation, and partnership is better than rival ship, he added.     Wen and Obama also exchanged views on global climate change, the Korean Peninsula situation, the Middle East issue and Doha round of world trade talks.     Obama arrived in Shanghai on Sunday night to kick off his four-day visit to China, where on Monday he met with municipal officials and college students and then flied to Beijing in the afternoon.     On Tuesday in Beijing, Chinese President Hu Jintao held talks with Obama, and they reached a wide range of agreements on furthering strategic mutual trust, maintaining exchanges at all levels and meeting global and regional challenges together.     A joint statement was issued after the talks.     Obama also met with China' top legislator Wu Bangguo during his stay in Beijing.

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PHNOM PENH, Dec. 21 (Xinhua) -- China will make joint efforts with Cambodia to achieve a win-win cooperation, Chinese Vice President Xi Jinping said Monday.     "Furthering relations with Cambodia has long been China's consistent policy," Xi told Cambodian Prime Minister Hun Sen during talks. Visiting Chinese Vice President Xi Jinping (R) and Cambodian Prime Minister Hun Sen (L) review the guard of honor during a welcoming ceremony in Phnom Penh, Cambodia, Dec. 21, 2009. Hailing the traditional friendship fostered by the leaders of the old generation of the two countries, Xi said China and Cambodia have maintained political trust and fruitful cooperation and support each other in international and regional affairs.     He called China-Cambodia relations "a good example of sincere cooperation between countries with different social systems." Visiting Chinese Vice President Xi Jinping (R2) and Cambodian Prime Minister Hun Sen (L2) hold talks in Phnom Penh, Cambodia, Dec. 21, 2009Xi put forward a four-point proposal to cement relations with Cambodia, including keeping high-level contacts, strengthening exchanges on country governance, deepening economic and trade cooperation and promoting coordination in international and regional affairs.     Xi said the free trade zone between China and the Association of Southeast Asian Nations (ASEAN) would be completed in 2010, and China and Cambodia should take the chance to push for stable and balanced growth in their bilateral trade.     Hun Sen said he was happy to meet with Chinese leaders for the first time in the new government building, which was constructed with China's assistance and has served as an embodiment of the friendliness between the two countries. Visiting Chinese Vice President Xi Jinping (L, front) shakes hands with Cambodian Prime Minister Hun Sen (R2) during a signing ceremony of the two country's mutually-beneficial cooperation documents in Phnom Penh, Cambodia, Dec. 21, 2009. He spoke highly of China's development and its contribution to neighboring countries' progress and expressed gratitude for China's long-term support for Cambodia's development.     Hun Sen said Cambodia would strengthen cooperation with China in the political, trade, cultural, tourism and security fields and pledged the country's adherence to the one-China policy.     After their talks, the two leaders attended a signing ceremony for a deal on China's preferential loan to Cambodia.     Xi also presented a wreath to the independence monument in Phnom Penh on Monday.

BEIJING, Dec. 1 -- Premier Wen Jiabao Monday rejected "unfair" calls from European countries for faster reform of China's currency policies, despite lobbying from EU financial chiefs at the weekend."Some countries demand the yuan's appreciation while practicing various trade protectionism against China. It's unfair and actually limits China's development," Wen told reporters in Nanjing, Jiangsu province.     European Commission President Jose Manuel Barroso and Swedish Prime Minister Fredrik Reinfeldt, whose country holds the rotating EU presidency, were also at the press conference. Chinese Premier Wen Jiabao delivers a speech at the closing ceremony of the fifth China-EU Business Summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009.    Wen's unusually direct response followed a one-and-a-half hour summit between China and the EU, which has 27 member-nations. The summit ended with five agreements mainly on energy and environmental cooperation.     But it also ended without a breakthrough on issues that have brought stalemate between the sides, such as trade disputes and arms embargoes.     Wen said China will keep the yuan basically stable and carry out currency reform at its own, gradual pace.     A stable yuan is not only good for the Chinese economy but the world, Wen said.     The meeting took place against the backdrop of concern about the rising euro and the possibility it might derail the recovery in Europe, which imports heavily from China.     The yuan began gaining against major currencies after a set of exchange rate reforms were introduced in July 2005. After rising nearly 20 percent against the US dollar, it hovered around 6.83 to the US dollar for about a year. In the past month or so, the euro has risen to a 15-month high.     Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker joined other European leaders in lobbying China's senior officials.     The Chinese officials explained that it was difficult to make a case for "immediate renminbi appreciation" in a country where 40 million people live on less than 1 U.S. dollar a day. Chinese Premier Wen Jiabao (C), European Commission President Jose Manuel Barroso (R) and Swedish Prime Minister Fredrik Reinfeldt (L), whose country currently holds the rotating EU presidency, meet with the press after the 12th China-EU summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009. The failure of the EU appeal was expected because Europe was only thinking about itself, claimed Wu Baiyi, a European studies expert at the Chinese Academy of Social Sciences.     Zhao Junjie, Wu's colleague, said that while China is not able to quickly change its currency policy, Beijing had made efforts in the past year to fill the EU trade gap.     "Actually, some of the goods bought by the dozen purchasing groups that China sent to the EU during the past year were bought only for the sake of the EU," he said. "But the EU still wants more."     Glenn Maguire, chief Asia-Pacific economist at Societe Generale SA in Hong Kong, told Bloomberg: "China will only adjust on its own terms and in its own time. It's decided that now is not the time to do that."     Despite lingering disputes, including trade protectionism and the EU's ban on the transfer of technology to China, Wen Monday raised expectations for improved relations with Beijing's largest trading partner.     "China and Europe walking together hand-in-hand will make the steps of humankind more steady, and that best illustrates the strategic significance of our ties," said Wen.     Barroso and other EU leaders Monday also applauded fresh Chinese commitments on countering climate change.     Stanley Crossick, founding chairman of the European Policy Centre, said Europe will need to commit to lifting its arms embargo against China.     "Beijing is right that listing China among a handful of embargoed pariah states is totally inconsistent with the treatment of a strategic partner," he said.     Crossick suggested that EU officials be trained in contemporary China and taught Mandarin.     Wen opened the door to better understanding Monday, announcing that 2011 will be the year for China-EU youth communication and the establishment of other youth and cultural exchange mechanisms.

BEIJING, Dec. 7 (Xinhua) -- The closing of China's Central Economic Work Conference on Monday, which coincided with the opening of the 15th United Nations Climate Change Conference in Copenhagen, left a message that China was determined to pursue a path of low-carbon development.     The three-day conference, responsible for setting the tone for economic development in 2010, agreed that China would step up efforts to boost low-carbon sectors, as part of the strategy of promoting the transformation of economic development pattern.     "This demonstrates a remarkable change in China's concept of development, and would greatly help upgrade economic growth pattern and adjust economic structure," said Jiang Xinmin, a researcher with the National Development and Reform Commission (NDRC).     The conference agreed to strictly control the issuing of loans to sectors featuring high energy consumption and high carbon emissions, increase credit support to low-carbon industries, strictly reduce exports of high energy-consuming products and rollout low-carbon economic development pilot plans.     Jiang said the government's policies would surely produce more breakthroughs in low-carbon technologies, thus providing new vigor for growth. "We can simply say that China has set foot on a low-carbon development road."     The Chinese government's major task this year had been to maintain growth through its stimulus programs amid the global economic downturn, said Wang Xiaoguang, a researcher with the China National School of Administration.     "As the economic recovery is gaining momentum, the country should shift its focus to the long-term development plan," Wang said.     The conference has put much emphasis on "green" development as 2010 will be the last year of the country's 11th five year plan (2006-2010), a guideline for economic and social development, which set hard targets for reducing energy intensity and emissions.     Under the plan, China would reduce energy consumption per unit of GDP by 20 percent and major pollutant emissions by 10 percent from the 2005 levels by 2010, and the country is still working for that goal.     China announced ambitious plans in late November to cut its energy intensity per unit of GDP by as much as 45 percent by 2020 compared to the levels in 2005.     "The country would be pressured to make more efforts to achieve these targets. It is a tough task we must fulfill. We need to change our growth pattern and find a way to sustainable development," Wang said.     The great importance the government attached to emissions cutting suggested the low-carbon concept has gradually merged into the country's development plans, said Wang.     However, it took more than government policies and enforcement to reach the goal, said Zhou Dadi, a researcher with the NDRC     "A low-carbon development pattern also needs concerted efforts by the public to change their life styles," Zhou said.

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ASHGABAT, Dec. 13 (Xinhua) -- Visiting Chinese President Hu Jintao and his Turkmen counterpart Gurbanguly Berdymukhamedov agreed here Sunday to continually advance bilateral cooperation in an all-round and sustainable way.     The Chinese president, who arrived here earlier in the day for a working visit, held talks with Berdymukhamedov in Ashgabat, capital of this Central Asia nation in the afternoon.     Hu said the Chinese and Turkmen economies are highly complementary to each other, and bilateral cooperation in all dimensions and various fields accords with the needs of economic development of both countries.     Hu outlined four areas that the two countries should focus on to advance practical cooperation. Chinese President Hu Jintao (L) shakes hands with Turkmen President Gurbanguly Berdymukhamedov in Ashgabat, capital of Turkmenistan, on Dec. 13, 2009.     Firstly, the two countries should start as soon as possible the mechanism of Sino-Turkmen cooperation committee so as to better guide and coordinate practical cooperation between the two countries.     Secondly, the two countries should continue to deepen cooperation in the energy sector. Hu said the China-Central Asia natural gas pipeline is a cooperative project that benefits the two countries and the whole region.     China is ready to work with Turkmenistan to secure smooth operation of the gas pipeline, and further advance bilateral cooperation in the oil and gas sector in line with the principle of equal consultation and mutual benefit, Hu said.     Thirdly, the two countries should also strengthen cooperation in non-energy fields. Hu said China is ready to expand cooperation with Turkmenistan in transport, telecommunications, building materials and infrastructure development. He proposed that the two countries should study and draft a plan of middle- and long-term cooperation in non-energy fields.     Fourthly, the two countries should earnestly implement the credit projects they agreed upon by accelerating the inauguration of relevant projects.     After the talks, Hu and Berdymukhamedov attended the signing ceremony of a number of cooperation documents in trade, investment, and telecommunications. Chinese President Hu Jintao meets with Turkmen President Gurbanguly Berdymukhamedov in Ashgabat, capital of Turkmenistan, on Dec. 13, 2009Hu said the activities of the "three evil forces" of terrorism, separatism and extremism in Central Asia have posed a serious threat to the stability of all countries in the region.     China is ready to strengthen communication with Turkmenistan and work together to crack down on the "three evil forces" and cross-border crimes so as to effectively maintain regional security and stability, he said.     Hu emphasized that cooperation in the fields of humanities and culture is an important part of bilateral relations. He said expanding cultural cooperation is conducive to reinforcing the foundation of bilateral friendship and expanding mutually beneficial cooperation in all fields.     China is ready to work with Turkmenistan to strengthen exchanges and cooperation in culture, sports, education, press, health and tourism. The two countries should actively carry out exchanges in the fields of humanities and culture, promote contact between their art groups, non-government organizations, media organizations and academic institutes and step up cooperation in education, he added.     Hu announced the decision to double the number of annual scholarships offered by the Chinese government to Turkmen students studying in China from the current 45 to 90. Hu also expressed China's readiness to provide assistance to Turkmenistan on Chinese language learning.     Hu said since the two countries established diplomatic links 17years ago, the two sides have maintained a high level of mutual trust and firmly supported each other on major issues concerning each other's core interests. He noted that the two countries have carried out vigorous cooperation in trade, energy and culture.     Hu said China has always placed importance on its relations with Turkmenistan, regarding it as a reliable friend and major partner. He said strengthening practical cooperation in all areas is in the common interests of both countries and peoples.     Hu said China is ready to work with Turkmenistan for the all-round, in-depth and rapid development of their bilateral ties.     Berdymukhamedov fully agreed with Hu's proposals for developing bilateral ties, saying Hu's visit is of special significance. He said Turkmenistan attaches great importance to China and its relations with China.     The long-term strategic partnership between the two countries is based on a high degree of mutual trust, mutual respect and friendship. Despite the changes in international situation, the Turkmen government and people will always firmly push forward cooperation with China, he said.     Berdymukhamedov spoke highly of the rapid growth of bilateral trade in recent years, saying China has become one of the biggest trade partners to Turkmenistan.     Despite the impacts of international financial crisis, trade between China and Turkmenistan increased 135.5 percent in 2008 and38.7 percent in the first 10 months of 2009.     Berdymukhamedov said Chinese companies have made investment in oil and gas, transportation and other sectors in Turkmenistan and won respect of Turkmen companies.     He said the China-Central Asia natural gas pipeline is an example of sincere cooperation under the strategic partnership of the two countries. He said the project is not only in the long-term interests of both countries and their peoples, but is also conducive to maintaining stability of the global energy market.     President Hu will fly to the border town of Turkmenabad Monday to attend a ceremony to inaugurate a natural gas pipeline linking China, Kazakstan, Uzbekistan and Turkmenistan.     Berdymukhamedov said that under the new circumstance the two countries share a broad prospect of cooperation in all areas. Turkmenistan is ready to strengthen political dialogue and carry out practical cooperation with China in the fields of chemical industry, building material industry, science, culture and education.     The president said China is an important force for promoting world peace, stability and development. He expressed satisfaction with the effective cooperation between the two countries in multilateral organizations, saying the two sides share broad common interest and hold similar stances on international affairs.     Before the talks, Hu presented Berdymukhamedov with a list of books donated to the National Library of Turkmenistan.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao said here Tuesday that China and the United States will start preparations as soon as possible for the second round of the China-U.S. Strategic and Economic Dialogue (S&ED) scheduled for next summer in Beijing.     China and the United States will continue implementing the agreements reached at the first round of the dialogue last July in Washington, Hu said in remarks to reporters after talks with visiting U.S. President Barack Obama.     The two leaders spoke positively during the talks of the importance of the strategic and economic dialogue mechanism in strengthening mutual trust and cooperation between the two nations, he said.     Both leaders believed that close high-level contacts and other dialogues and consultations at various levels are essential to the development of bilateral relations, said the Chinese president.     The two sides agreed to keep close communication through visits, phone calls, letters and meetings during multilateral events, Hu said.

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BEIJING, Nov. 15 (Xinhua) -- Early and heavy snow storms in north China have killed 32 people, destroyed nearly 300,000 hectares of winter crops, and caused nearly 7 billion yuan (about one billion US dollars) of direct economic losses as of 2 p.m. Sunday, according to the Ministry of Civil Affairs.     The death toll did not include those who died in snow-caused traffic accidents, the ministry said. Ten died in Hebei Province, 12 died in Henan Province, and others in provinces of Shanxi, Shandong and Shaanxi.     As of 2 p.m. Sunday, more than 9.6 million people were affectedly snow storms, and 166,000 people had been evacuated from their homes or stranded vehicles jammed on the roads.     More than 15,000 buildings collapsed, the ministry said.     Heavy snow storms began to fall on Monday in northern and central Chinese provinces, including Hebei, Shanxi, Henan, Shandong, Hubei and Shaanxi, and Ningxia Hui Autonomous Region.     Beijing also experienced heavy snow, but no deaths have been reported so far.

SINGAPORE, Nov. 12 (Xinhua) -- Chinese President Hu Jintao said here Thursday that China and Singapore should strive to create new opportunities for bilateral cooperation in an effort to achieve economic recovery at an early date.     Hu made the remarks during a speech at a reception held by Singapore business circles, which was also attended by Singapore's Deputy Prime Minister Wong Kan Seng. Chinese President Hu Jintao delivers a speech during a reception held by Singapore business circles in Singapore, Nov. 12, 2009.The Chinese president expressed full confidence in the prospect of China-Singapore trade and economic cooperation, calling for the two nations to work together to create an even brighter future for their mutually beneficial cooperation.     China and Singapore have maintained close high-level contacts and achieved fruitful cooperation in various fields since they established diplomatic ties in 1990, said Hu, who is on a state visit to Singapore.     Singapore has now become an important cooperative partner of China in the ASEAN region and bilateral trade and economic cooperation between the two nations have been growing steadily, the Chinese president said.     "China-Singapore cooperation has always been closely connected with the development strategy of both countries and progressed with times," Hu said.     The "flagship projects" in bilateral cooperation, including the Suzhou Industrial Park and Tianjin Eco-City projects, have seen remarkable achievements and smooth progress, Hu said.     He added that the implementation of a free trade arrangement between China and Singapore has helped raise the level of their economic cooperation.     The friendly and mutually beneficial cooperation between China and Singapore has not only brought about substantial benefits to their people, but also helped promote regional peace, stability and prosperity, he stressed.     China will staunchly adhere to the path of peaceful development and the opening-up strategy for mutual benefits and win-win situations. It will continue to develop friendly cooperation with countries around the world on the basis of the five principles of peaceful coexistence, the president said.     The country will also continue to work with nations globally to strive to build a harmonious world with lasting peace and common prosperity, he said.     The business circles of Singapore voiced their belief that a stable and prosperous China would bring benefits to the region and the world as a whole.     They also expressed the willingness to continue to play an active role in advancing mutually beneficial cooperation and bilateral ties between Singapore and China.     Trade between China and Singapore reached 52.4 billion U.S. dollars in 2008, up 10.5 percent year-on-year.     Up until now, Singapore has made investments worth more than 40 billion U.S. dollar in China. It has become one of the top overseas investment destinations for Chinese companies.