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BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.     The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported.     The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.    CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales.     To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan.     PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."

BEIJING, May 25 (Xinhua) -- All the barrier lakes (or quake lakes) formed after the massive May 12 earthquake in southwest China's Sichuan Province are "under control" but the situation is still grim, said Vice Minister of Water Resources E Jingping on Sunday.    Heavy rains forecast for the area over the next three days are a major threat, as the additional water build-up in the lakes could cause the landslide barriers that formed them to burst, flooding nearby areas, E told a news conference. Liu Ning, chief engineer of China's Water Resources Ministry, briefs the media on the emergency control of the Tangjiashan imprisoned lake in Beichuan County, southwest China's Sichuan Province, after a news conference in Beijing, capital of China, May 25, 2008.The 8.0-magnitude earthquake, aftershocks and landslides created 35 such lakes, with 34 in Sichuan, posing a new danger to more than 700,000 of the people who survived the deadly quake, thevice minister said.     E admitted that these lakes posed a challenge for the government's efforts to prevent secondary disasters in the quake regions.     The biggest concern is the Tangjiashan lake, the largest of the34 quake lakes in Sichuan, whose water level rose by nearly 2 meters Saturday to 723 meters, only 29 meters below the lowest part of the barrier.     About 1,600 armed police officers and People's Liberation Army soldiers were hiking on Sunday toward the Tangjiashan lake, hoping to blast away its landslide barrier before it bursts and causes a flood.     Earlier attempts to send military helicopters on the same mission were hampered by adverse weather and low visibility at the lake.     The ministry has drawn up evacuation plans for communities downstream of the 19 quake lakes at high risk of bursting, E said. He did not provide an estimate of the people who might have to move.     The massive earthquake also left 69 reservoirs in danger of collapse in Sichuan. Another 310 reservoirs were in "highly dangerous" situations and more than 1,400 posed a moderate risk, according to E.     Steps have been taken to tackle the problem, E said, such as completely draining the 69 collapse-prone reservoirs, lowering water levels at 826 others and putting all the damaged reservoirs under 24-hour observation.     The ministry wants to fix the reservoirs in the "highly dangerous" and more risky categories before July, when the rainy season is expected to start in the quake regions, he said.     Priority has been given to the Zipingpu dam, which is only 17 kilometers from the quake epicenter of Wenchuan County and would threaten 11 million lives on the downstream Chengdu Plain if it collapsed, E said. However, he said, the dam was structurally stable and safe despite some minor damage.     Meanwhile, 803 hydropower stations were damaged in the quake nationwide, including 481 in Sichuan.

NANNING, Aug. 23 (Xinhua) -- Downpours brought by Typhoon Nuri swept south China's Guangdong and Guangxi from Friday to Saturday, but no casualties have been reported. From 8 a.m. Friday to 2 p.m. Saturday, rainstorms accompanied by winds of up to 68 km per hour, hit the southeastern areas of Guangxi Zhuang Autonomous Region, with the biggest precipitation of 350 mm in Beiliu County, according to the regional meteorological station. A float bridge is damaged by the gale at Dayawan sea area in Shenzhen, south China's Guangdong Province, Aug. 22, 2008    Heavy rain was forecast to continue in the region on Sunday and Monday.     Typhoon Nuri was downgraded to a strong tropical storm on Friday afternoon after it landed in the coastal areas along Sai Kung of Hong Kong. The storm made another landfall in southern Guangdong late on Friday, packing winds of up to 90 km per hour. Heavy clouds are seen over the skyline in Zhuhai, south China's Guangdong Province, Aug. 22, 2008.In a farming yard in Guangzhou, Guangdong's capital, 186 tourists, including 55 foreigners, were evacuated to safe areas by police after the wooden house where they stayed were damaged by strong winds with power cut off.

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BEIJING, May. 13 -- China's trade surplus decreased slightly last month from a year ago amid declines in international trade growth triggered by the global economic slowdown.     Monthly surplus reached 16.68 billion last month, down 1.14 percent year-on-year but up 24.5 percent from 13.4 billion U.S. dollars in March, the General Administration of Customs said yesterday.     Exports in April rose 21.8 percent year-on-year to 118.71 billion U.S. dollars, while imports rose 26.3 percent to 102.03 billion U.S. dollars. China's trade surplus decreased slightly last month from a year ago amid declines in international trade growth triggered by the global economic slowdown.(    The sharp decline in April's export growth after a 30.6 percent rise in March should be seen as a return to the medium-term trend rather than a sudden weakening in China's exports, said Sun Mingchun with Lehman Brothers.     He said year-on-year growth of exports in March 2008 was abnormally strong given exports in March 2007 were extremely weak because exporters had frontloaded their shipments last February.     China's trade surplus has been narrowing since the government took measures to curb exports of resource-intensive and heavily polluting products and started to encourage imports from last year.     The World Trade Organization has predicted global trade growth will decline to 4.5 percent, 1 percentage point lower than last year. It could be the slowest rise since 2002.     "The global economy is facing more uncertainties this year given the possible shrinkage in US demand and inflationary pressures. Both these factors are expected to aggravate the global economic slowdown, further affecting trade," said Liang Yanfen, a researcher with the Chinese Academy of International Trade and Economic Cooperation.     "Slowing external demand may take more time to impact export growth, but the weakening trend is becoming more evident both in and outside the US. Higher commodity prices and currency appreciation would check the continued rise in trade surplus," said Ken Peng, a Citi analyst.     Export growth stayed robust at 21.8 percent but is under pressure as even Asian demand has started to slow, suggesting that a weakening in the final product markets is affecting upstream producers while imports continue to be supported by a stronger currency, high commodity prices and government controls over trade in food and resources out of inflation concerns, he said.     The country's trade surplus in the first four months narrowed to 57.99 billion U.S. dollars, 5.31 billion U.S. dollars lower than a year ago.     Exports in these four months amounted to 424.6 billion U.S. dollars, up 21.5 percent, or 6 percentage points less than a year earlier. Imports were 366.6 billion U.S. dollars, up 27.9 percent, or 8.8 percentage points more than a year earlier.     Realized foreign investment reached 35.02 billion U.S. dollars during the four months, up 59.32 percent year-on-year, the Ministry of Commerce said.

BEIJING, July 9 (Xinhua) -- The parties involved in the Korean Peninsula nuclear talks held intense bilateral meetings here to pave the way for the discussions between chief negotiators, which are scheduled for Thursday afternoon. Kim Sook, chief negotiator of the Republic of Korea (ROK) delegation, met with his U.S. counterpart Christopher Hill and Chinese chief delegate Wu Dawei on Wednesday.    After the bilateral meetings, Kim told reporters that he felt neither "optimistic" nor "pessimistic" about the six-party talks, and each party needed to cool down and detail the relevant issues. Wu Dawei (R), China's top negotiator on Korean Peninsular nuclear issue, meets with his South Korean counterpart Kim Sook in Beijing, capital of China, July 9, 2008. The heads meeting of a new round of six-party talks on Korean Peninsular nuclear issue will be held here on July 10.     Hill, after meeting with the ROK side, said they touched upon issues including the verification process for the Democratic People's Republic of Korea (DPRK) denuclearization, fuel aid to the country, food shipments and other issues.     Hill said he is scheduled to have a breakfast meeting on Thursday with Russian chief delegate Alexei Borodavkin, after which there will be a trilateral meeting of China, the United States and Russia, with the aim of fully preparing for the six-party talks in the afternoon.     Hill met with the DPRK delegation soon after he arrived in Beijing on Tuesday afternoon, saying that denuclearization verification, including documents, site visits and interviews, would be a focal point in the upcoming meeting.     Under an agreement reached in October, the DPRK agreed to abandon all nuclear weapons and programs and declare all its nuclear programs and facilities by the end of 2007, in exchange for diplomatic and economic incentives.     The DPRK submitted its nuclear declaration to China on June 26 and demolished the cooling tower at the Yongbyon nuclear reactor on June 27, though it missed the deadline.

BEIJING, Oct. 8 (Xinhua) -- China's central bank on Wednesday announced cuts in both the interest rate and reserve-requirement ratio in the latest effort to boost the domestic economy amid worries over the deepening global financial crisis.     The deposit and lending rates would be lowered by 0.27 percentage points from Thursday and the reserve-requirement ratio would be down by 0.5 percentage points from Oct. 15, the People's Bank of China (PBOC) said.     "This was mainly out of concerns over an economic slowdown," said Ba Shusong, deputy chief of the Finance Research Institute under the Development Research Center of the State Council.     "The rate cut was expected as the world was faced with a cycle of interest rate cuts," he told Xinhua.     OUT OF SLOWDOWN CONCERNS     The loosening in monetary policy, the second such move in less than a month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The PBOC cut the benchmark one-year lending rate by 0.27 percentage points on Sept. 16, the first rate cut in six years. It also lowered the reserve requirement at medium- and small-sized lenders by 1 percentage point as of Sept. 25.     Tang Min, China Development Research Foundation deputy secretary, echoed Ba's viewpoint.     Tang said the government made the move mainly out of concerns over domestic problems. "The deepening U.S.-originated credit crisis has impacted the psychology of Chinese and also the real economy," he told Xinhua.     Investors, gripped by lingering fears of global economic downturn, dumped equities to drive the stock market down 66 percent from its peak last October.     China's gross domestic product (GDP) expanded 10.1 percent in the second quarter of the year, marking a deceleration for four consecutive quarters.     Its exports, a major driver behind the economy, reported slowing growth this year as the credit crisis reduced overseas demand for its goods. This has led to the closures of tens of thousands of local exporters and also job losses.     Local businesses bore the brunt of higher borrowing costs and were even finding it difficult to get credit after last year's tightening measures aimed at curbing inflation and averting economic overheating.     The easing in inflation has given room for the authorities to loosen monetary policy. The consumer price index rose 4.9 percent in August, off from the 12-year-high of 8.7 percent in February.     "Inflation is no longer a threat with the declining commodities prices," Tang said.     The monetary policy has been starting to loosen and the trend would not change in the short term, said Zhuang Jian, an Asian Development Bank (ADB) economist. "The whole world doesn't have strong confidence in the economic outlook."     TAX CUT TO BOOST DEMAND     In another move to boost domestic demand, the State Council, China's Cabinet, said it would scrap the 5 percent individual income tax on savings interest earnings starting on Thursday.     China began levying a 20 percent individual income tax on interest earnings in 1999 to narrow the income gap and encourage consumption and investment. The tax rate was slashed to 5 percent on Aug. 15, 2007.     The income tax cut was a must as it would help alleviate the erosion on personal income by high prices, especially given the cut in the deposit rate, Li Yang, head of the Finance Research Institute under the Chinese Academy of Social Sciences.     The tax cut, together with lower borrowing costs, would boost domestic demand, an increasingly more important driver of economy in the global credit crisis, Zuo Xiaolei, China Galaxy Securities chief economist, said.     GLOBAL COORDINATED RESPONSE     The move was also a timely response to the rate cuts by other major central banks and part of a coordinated effort to stem the global crisis, Tang said.     Six other major central banks, including the U.S. Federal Reserve, slashed interest rates on the same day to cope with the current financial crisis.     The U.S. Federal Reserve lowered its target for the federal funds rate by 0.5 percentage points to 1.5 percent. The Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank cut by the same margin to 3.75 percent.     Central banks of Canada, Sweden and Switzerland took similar actions. The Bank of Japan said it strongly supported these policy actions.     Australia's central bank on Tuesday slashed the interest rate by 1 percentage point, the largest cut since 1992.

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BEIJING, Aug. 11 (Xinhua) -- Chinese President Hu Jintao on Monday met separately with several foreign leaders in the Great Hall of the People in central Beijing.    The foreign leaders, including Cambodian King Norodom Sihamoni, President of Cyprus Demetris Christofias, Slovak President Ivan Gashparovic and Latvian President Valdis Zatlers, had come to the Chinese capital to attend the opening ceremony of the Beijing Olympic Games on Aug. 8 and other activities relating to the Games.Chinese President Hu Jintao (R) shakes hands with King of Cambodia Norodom Sihamoni during their meeting in Beijing, China, Aug. 11, 2008. Norodom Sihamoni attended the opening ceremony of the Beijing Olympic Games on Aug. 8.Hu extended a warm welcome to the guests, and said the Beijing Olympics, with the theme of "One World, One Dream," is an international sports gala that belongs to people of all countries in the world.    The foreign leaders spoke highly of the Games' opening ceremony and China's preparations for the Games, and expressed the belief that the Beijing Olympics will be a great success.    Hu also had a broad exchange of views with the leaders on bilateral relations and other major regional and international issues of common concern.    In his meeting with King Sihamoni, Hu said that China and Cambodia are not only good neighbors that coexist in peace and harmony, but also good friends with mutual trust, good brothers sharing happiness and woe, and good partners working together for a win-win end.    "The friendly relationship between China and Cambodia is exemplary for countries of different social systems which want to treat each other equally and carry out sincere cooperation," Hu said.    The Chinese government and people are ready to work with their Cambodian counterparts to enhance friendly exchanges, expand mutually-beneficial cooperation, and promote common development, said Hu, adding that China highly appreciates the Cambodian Royal Family's "outstanding contribution" to the development of Sino-Cambodian relations.    King Sihamoni responded that the Cambodia-China friendship was forged and developed through the efforts of several generations of leaders of both countries.    He said the Cambodian Royal Family, government and people appreciate the long-time support and assistance from China and are dedicated to the development of good-neighborly friendship and cooperation with China.Chinese President Hu Jintao (R) shakes hands with President of Cyprus Demetris Christofias during their meeting in Beijing, China, Aug. 11, 2008. Demetris Christofias attended the opening ceremony of the Beijing Olympic Games on Aug. 8. While meeting President Christofias, Hu pointed out that China and Cyprus enjoy all-weather friendship and partnership.    "China is willing to work with Cyprus to enhance high-level exchanges, expand cooperation in diverse fields and cement coordination within the frameworks of the United Nations and Asia Europe Meeting and in multilateral affairs," he said.    President Hu stressed China's persistent stand that the independence, sovereignty and territorial integrity of Cyprus should be duly respected, and the Cyprus issue should be settled in a fair and reasonable manner on the basis of relevant UN resolutions.    Christofias thanked the Chinese side for the support of Cyprus unity, and hoped the two countries enhance cooperation in trade and economic sectors.    Cyprus will continue with its efforts to promote Europe-China relations, he added.Chinese President Hu Jintao (R) meets with his Slovakian counterpart Ivan Gashparovic in Beijing, China, Aug. 11, 2008. Gashparovic was here to attend the opening ceremony of the Beijing Olympic Games on Aug. 8 and other events. Meeting with his Slovak counterpart, Hu said that bilateral ties have been going along quite well in recent years and the two countries have enhanced high-level exchanges, built mutual political trust, maintained practical and fruitful cooperation in diverse fields, and cemented coordination in international affairs.    Slovakia is considered as a trustworthy friend and partner of China, Hu said. "Next year will mark the 60th anniversary of the establishment of China-Slovakia diplomatic relations. We're willing to work with Slovakia to promote bilateral friendly cooperation to a new height."    President Gashparovic said his country thinks highly of China's influence in international affairs, and hopes to deepen cooperation with China to further promote bilateral relations.Chinese President Hu Jintao (R) shakes hands with President of Latvia Valdis Zatlers during their meeting in Beijing, China, Aug. 11, 2008. Valdis Zatlers attended the opening ceremony of the Beijing Olympic Games on Aug. 8. In his discussions with the Latvian president, Hu said that China's relations with Latvia have forged ahead smoothly since the two countries clinched diplomatic ties 17 years ago.    China values such relations and is ready to work with Latvia in promoting all-round development of bilateral ties by maintaining exchanges at all levels, enhancing contacts between the governments, legislatures and political parties, expanding channels for trade and economic cooperation, broadening exchanges and cooperation in diverse fields including science and technology, culture and education, and maintaining good coordination in international affairs, Hu said.    President Zatlers echoed Hu's views on bilateral ties, saying his country is ready to work with China to expand cooperation in economic and trade fields and boost exchanges in education and cultural sectors.    During the Monday meetings, Hu also thanked the foreign leaders for their countries' assistance to China after the devastating May 12 earthquake that rocked Sichuan Province and neighboring regions.

HAIKOU, Oct. 3 (Xinhua) -- Higos, the 17th tropical storm of the year, landed in China's southernmost Hainan Province Friday evening, local observatory said.     Higos landed at 10:15 p.m. in Longlou Town, Wenchang City, 19.6 degrees north latitude and 111.0 degrees east longitude. The wind speed at the eye of the storm was 18 meters per second, according to the Hainan Provincial Meteorological Observatory.     It was forecast to weaken and move northwest towards the coastal areas of western Guangdong Province. Delayed trucks are parked at the Xiuying port in Haikou, capital of south China's Hainan Province Oct. 3, 2008, due to the suspension of ferry service.In total, 24,115 fishing boats in the province had returned to port and coastal fisheries staff had gone home. All recreational sporting activities on the air or sea were also suspended on Friday, said Lin Mingzhong, Hainan Provincial Office for Flood, Wind and Drought Control deputy director.     He predicted Higos would have minor impact on the island as the rainfall was expected to be around 100 mm. It was likely to affect some small reservoirs as their current water level was high.     Higos was formed on Tuesday in the Pacific Ocean, coming on the heels of tropical storms Jangmi and Hagupit, which combined had killed about 20 people in China. A rescue ship waits at a port in Haikou, capital of south China's Hainan Province Oct. 3, 2008. Higos, the 17th tropical storm this year, will drop heavy rain on parts of south China's Guangdong and Hainan provinces over the next two days, the country's National Meteorological Observatory said on Thursday.

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BEIJING, July 4 (Xinhua) -- China's State Council published on Friday guidelines on post-quake reconstruction, emphasizing house repair and building work.     The State Council, China's Cabinet, stressed priority for repairing and building houses for people whose homes were destroyed during the May 12 tremor.     "Check for repairable buildings and fix them as soon as possible; scientifically choose sites, economically use land and set down reasonable quake-resistant levels for building new houses," the guidelines said.     Areas suitable for living must be marked off based on scientific standards and evaluations on geology and natural resources. Meanwhile, the government will see to the reasonable distribution regarding population, industry and productivity, according to the guidelines. A local man builds house at ruins at Yuzixi Village, Yingxiu Township, Wenchuan County in Southwest China's Sichuan Province, June 9, 2008. Residents in quake-hit Yingxiu Township are now reconstructing their hometown    The reconstruction of buildings should take local advice into account, and be based on governmental subsidies, social support and local resources.     All the measures were aimed to let quake-hit people live in "safe and comfortable houses as soon as possible", said the guidelines.     Resources should be optimized to upgrade quake resistance standards and improve the quality of construction, the guidelines said.     Priority should be given to the reconstruction of public facilities, including schools and hospitals, and these buildings should be the "safest, most solid and trustworthy".     The guidelines required high schools and vocational schools be located in county seats, middle school in townships while primary school sites be relatively concentrated.     The guidelines also underscored the importance of protecting the ethnic and cultural relics affected by the major quake.     Earthquake sites and memorial halls would be erected, and the reconstruction of government buildings should be "frugal" and "practical."     The restoration of infrastructure should be adjusted to local conditions and planning, the guidelines added.

KUNMING, April 8 (Xinhua) -- China Eastern Airlines (CEA) will offer compensation of up to 400 yuan (57 U.S. dollars) to passengers affected in flights where pilots deliberately turned their aircraft around.     Passengers whose flights were canceled will get 400 yuan compensation. Those delayed within two hours of departure and without accommodation would get 100 yuan. Those delayed within eight hours of departure would get 200 yuan, said an official with the Yunnan branch of the carrier on Tuesday.     The compensation was set according to a guideline notice released by the general Administration of Civil Aviation, the official said.     From March 31 to April 1, 21 flights returned to their departure points in Yunnan Province, in southwestern China, leaving more than 1,000 passengers stranded at Kunming Airport, the capital of Yunnan.     "The time and energy we have wasted could never be compensated by 400 yuan," said Yu Xiaoyan, a tourist from the northern Inner Mongolia Autonomous Region.     Yu planned to take the MU5793 flight at 9:50 a.m. on March 31 from Kunming to Xishuangbanna. The plane never came after waiting for seven hours at the airport.     She was offered a ticket change at 4 p.m. on April 1 and received 400 yuan compensation.     CEA finally admitted on Monday that some pilots on the 21 flights deliberately turned their aircraft around while in flight.     It originally said the incidents were due to poor weather. However flights with other airlines flying the same routes landed on schedule during the same period.     The airline has suspended the pilots. Further probing is underway, said an announcement on the company's website.