Monthly Archives: July 2011

Cover of July 2011

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Table of Contents of July 2011

1. Cover story

CPC 90

2. Economy outlook

The 25th Session of China-EU Trade & Economic Joint Committee held in Beijing

3. Financial strategy

Baidu announces second quarter 2011 results

4. Legal spotlight

China’s responses to the WTO Panel Report regarding measures related to the exportation of various raw materials

5. Point of interest

River of wisdom

6. Portrait

Xi Guohua was named the new CEO of China Mobile

7. Remark from editor

Is railway the safe way?

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CPC 90

Following is the full text of the keynote speech made by Hu Jintao, general secretary of the Central Committee of the Communist Party of China (CPC), at a grand gathering marking the 90th founding anniversary of the CPC at the Great Hall of the People on July 1, 2011.

Comrades and Friends,

Today, together with the entire Party and the people of all ethnic groups in China, we are holding this grand meeting here to commemorate the 90th anniversary of the founding of the Communist Party of China (CPC) and also to review the great course of China’s development and progress and look ahead at the bright future of development and prosperity for the country. Continue reading

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25th Session of China-EU Trade & Economic Joint Committee held in Beijing

The The 25th Session of China-EU Trade & Economic Joint Committee was held on July 14, in Beijing. Chinese Minister of Commerce Chen Deming and EU Trade Commissioner Karel De Gucht co-chaired the Session.

At the Session, the two sides conducted extensive, in-depth and sincere communication over China-EU trade and economic relations, and exchanged views and reached important consensus on China-EU development cooperation, updating negotiation on 1985 China-EEC Trade and Economic Cooperation Agreement, promoting bilateral investment and high-tech trade, accelerating negotiation on China-EU Geographical Indications Protection Agreement, initiating negotiation on China-EU investment agreement as soon as possible, promoting trade of agricultural products and trade in services, strengthening cooperation on Standards and Conformity assessment, and advancing WTO Doha round negotiations. After the Session, Chen and De Gucht met with the reporters together. Continue reading

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Baidu announces second quarter 2011 results

Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, announced on July 25, 2011 its unaudited financial results for the second quarter ended June 30, 2011.

Second Quarter 2011 Highlights

Total revenues in the second quarter of 2011 were RMB3.415 billion ($528.4 million), a 78.4% increase from the corresponding period in 2010.

Operating profit in the second quarter of 2011 was RMB1.858 billion ($287.5 million), a 91.2% increase from the corresponding period in 2010.

Net income in the second quarter of 2011 was RMB1.633 billion ($252.6 million), a 95.0% increase from the corresponding period in 2010. Diluted earnings per ADS for the second quarter of 2011 were RMB4.67($0.72); diluted earnings per ADS excluding share-based compensation expenses (non-GAAP) for the second quarter of 2011 were RMB4.77($0.74). Continue reading

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China’s responses to the WTO Panel Report regarding measures related to the exportation of various raw materials

On July 5, WTO distributed its Panel Report to WTO members concerning the written complaints by the United States, the European Union and Mexico regarding “China— Measures Related to the Exportation of Various Raw Materials”.

This dispute concerns four types of export restraint that China imposes on the export of a number of raw materials.  The raw materials subject to the export restraints are various forms of bauxite, coke, fluorspar, magnesium, manganese, silicon carbide, silicon metal, yellow phosphorus and zinc. China is a leading producer of each of the raw materials which are used to produce everyday items as well as technology products.  Continue reading

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River of wisdom

Accompanied by foreign representatives and Cabinet officials, Taiwanese Premier Wu Den-yih on July 5 viewed an exhibition of “River of Wisdom,” a 3-dimensional animated version of the famed Song Dynasty painting “Along the River during the Qingming Festival” inTaipei, where he stressed the importance of culture and arts to a country.

“A nation marked by peace, prosperity and a thriving culture is what the people long for in any time and place,” Premier Wu remarked. “And the animated version of this painting is a testament to this.” The premier then called on all nations to work together to create a world where human rights are respected and freedom, democracy and culture flourish. Continue reading

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