News & Reports News Year 2010 July , 2010 10th of July 2010

10th of July 2010

China's forex reserves reaches 2.45 trillion USD   2010-07-11 11:51:25
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BEIJING, July 11 (Xinhua) -- China's foreign exchange reserves reaches 2.4543 trillion U.S. dollars by the end of June, up 15.1 percent year on year, the People's Bank of China, the central bank announced on Sunday.  

In record, 54 Chinese firms hit Global 500   2010-07-10 15:42:53
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BEIJING, July 10 (Xinhaunet) -- A record 54 Chinese companies are listed on the Fortune Global 500 this year, and three of them nudged into the top 10, a sign of China's growing economic power.
China Petroleum and Chemical Corp, also known as Sinopec, State Grid Corp of China and China National Petroleum Corp earned spots in the top 10.
-`Last year, only Sinopec was ranked that high.
The overall number of Chinese firms on the list increased to 54 from last year's 43, among which are eight from Taiwan -- making China the third largest country for Fortune 500 companies, following only the United States and Japan.
"The new ranking is a good demonstration of China's rapid economic growth," said Sun Lijian, a finance professor at Fudan University. "The global economic gravity has increasingly slanted toward emerging markets, China in particular."
However, the Chinese firms were mostly state-owned enterprises, and a few even reported a negative profit.
The deciding factor of Fortune Global 500 is revenue.
"Chinese companies need to enhance their competitiveness. The scale is one thing, and it should be combined with the ability to make money," Sun said.
The Chinese firms newly listed in the Global 500 include China Datang Group, Huawei Technologies Co Ltd and China Guodian Corp.
Chinese aircraft manufacturer Aviation Industry Corporation of China, or AVIC, which made the list last year for the first time at 426th, leaped to No. 330 this time.
Four Shanghai-based firms appear on the list: Shanghai Automotive Industry Corp, Baosteel Group, China United Network Communications Ltd and the Bank of Communications.
Globally, Wal-Mart Stores returned to the top perch, up from No. 3 in 2009.
It was followed by last year's champion Royal Dutch Shell, while last year's No. 2 Exxon Mobil fell to third.
(Source: Shanghai Daily)

Pavilion Day of Iran draws crowds

06-12-2010 09:10 BJTSpecial Report: Shanghai World Expo 2010 |
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Friday marks the National Pavilion Day of Iran at the 2010 Shanghai World Expo. The country of Iran is internationally known as the home to one of the world's oldest major civilizations, with great achievements in fields like music and art.
Now, join us on a visit to the Iran Pavilion in Shanghai to discover the splendor of the country and its hospitable people.
The Iran Pavilion is located within Zone A of Expo Park. The pavilion fully embodies traditional Islamic architecture and reveals its glorious ancient art and colorful contemporary lives.
With a focus on "Blending of Diverse Cultures in the City," the Iran Pavilion guides visitors through a journey transcending the restraints of time and space from Iran's past to the present day and on to the future. The pavilion emphasizes the harmonious development between Iranian urban and rural areas, in accordance with the main theme of the 2010 Shanghai World Expo, "Better City, Better Life."
Iran holds an important position in international cultural exchanges, mostly because it is admired for its Persian literature, philosophy, mathematics, art, and music.
Welcoming guests from near and far at the Iran Pavilion is a folk music group with a repertoire that combines both traditional and modern elements. As an artist introduces, one of the musical instruments they play is called Ney, which is made from suede. Ney is an old Persian word for reed from the Arundodonax plant. A highly skilled ney player can span more than three octaves.
Apart from its fine music tradition, Iran is also famous for its handmade carpet. One glance at the Carpet Museum inside the Iran Pavilion might give you a deeper understanding of the art of knitting. There's a popular saying that goes, "for an Iranian family, furniture is optional, but carpet is a necessity."
The materials used in braiding carpets are one-hundred percent natural. All the pigments are extracted from plants or minerals, to ensure a long-lasting dyeing effect.
Friday marks the National Pavilion Day of Iran at the 2010 Shanghai World Expo.