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China's cross-bank bankcard transactions grow strongly in 2009

BEIJING, Jan. 25 (Xinhua) -- China UnionPay (CUP) said Monday the country saw stable growth in cross-bank bankcard transactions last year despite some adverse impacts of the economic downturn, making bankcards the most primary means of payment except cash.

According to the data released by CUP, onshore cross-bank transactions rose 21.7 percent to 6.94 billion and the transaction value stood at 7.7 trillion yuan (1.13 trillion U.S. dollars), up 66.8 percent year on year.

Data showed 15.7 million merchants, 24.1 Omega Replica Watches million point-of-sale (POS) terminals, 200,000 automated teller machines (ATM) started to accept UnionPay cards last year, up 33 percent, 30 percent and 18 percent year on year, respectively.

The UnionPay cards also made great inroads outside China, as another 32 countries and regions accepted the cards in 2009, bringing the total number to 83.

Offshore transactions by UnionPay cards saw a year-on-year increase of 62 percent last year.

China's central SOEs report 14.6 pct growth in 2009 profits

BEIJING, Jan. 20 (Xinhua) -- China's centrally-administered state- owned enterprises (SOEs) under the supervision of the state assets watchdog posted a 14.6 percent rise in profits from a year earlier in 2009, the watchdog said Wednesday.

The SOEs reaped 797.72 billion yuan (116.8 billion U.S. dollars) in profits in 2009, the State-owned Assets Supervision and Administration Commission (SASAC) said in a statement on its web site.

The business revenue totalled 12.6 trillion yuan last Fendi Replica Handbags year, up 6 percent year on year, according to the statement.

Profits of these SOEs stood at 710.96 billion yuan in the first 11 months of last year, up 3.4 percent year on year. The first 10 months saw a drop of six percent in profits which was 633.78 billion yuan.

"The central SOEs have overcome great difficulties and maintained stable operation this year on stimulus packages though the economic crisis dampened external demand," SASAC's director Li Rongrong said on Jan. 7 at a conference attended by senior executives of the central SOEs.

He stressed that focusing on pillar business would be the SOEs' top priority for 2010, and required the SOEs to make more efforts on technological innovation and workforce building.

SASAC's deputy director, Huang Shuhe said on the same day that the centrally-administered SOEs should be vigilant of investment risks and maintain stable operation while resist the temptation of short-term profits.

"Enterprises should be particularly prudent of investing in the risky stock, futures and property markets," he said.

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BEIJING, January 18, 2010 (AFP) - After bringing in NBA bad boy Bonzi Wells last season, Shanxi Zhongyu of the China Basketball Association are seeking to land former disgruntled New York Knick Stephon Marbury, the team said Monday."Marbury will come next week. We want to sign him and we want him to play for us," club general manager Zhang Beihai told AFP by phone."When he arrives we will sit down and talk.

Right now it is not clear if he wants to sign. After we talk we will make a decision."If he signs, the former NBA All-Star will be joining a team sitting near the bottom of the table with a three-win, nine-loss record and faint hopes of making the post-season playoffs.Former Houston Rocket forward Maurice Taylor and high-scoring American Lee Benson are currently the two foreign players on the Shanxi team and one will be cut if the 32-year-old Marbury is signed, Zhang said.Once going by the nickname "Starbury," the New York-born point guard averaged 18.3 points and 7.6 Replica Bertolucci Watches assists a game in a 13-year NBA career that was tarnished by his unpopularity with fans and an image of selfishness.During the 2007-2008 NBA season, Marbury refused to play for the Knicks after being benched by coach Isiah Thomas in a public spat that lasted for much of the season. His unhappiness lasted into the following year before his $42-million contract was bought out in early 2009 and he was signed by the Boston Celtics, the last NBA team he played for.During the 2008-2009 CBA season, in an effort to boost sagging ticket sales, Shanxi brought in Wells, whose 10-year NBA career was dogged by troublesome on-court behaviour and various run-ins with coaches.Wells only played about six weeks in Shanxi before he left the team amid reports that the club Replica Ebel Watches had stopped paying him -- despite his spectacular play -- after the team's playoff hopes dimmed.

Chinese speed skater Ye carries Winter Olympics flame in Canada

Bulgari Watches VANCOUVER, Jan. 25 (Xinhua) -- Chinese legendary speed skater Ye Qiaobo on Monday ran in the torch relay of the 2010 Vancouver Winter Games in Canadian western province of British Columbia.

Ye, who won China's first-ever Olympic Winter Games medal in 1992, took up the flame in Osoyoos, located in the south central interior of British Columbia, some 400 kilometres east of Vancouver.

The town has been included in the torch relay routes mostly because of its prosperous Indian aboriginal community.

No stranger to the Olympic Torch Relay, Ye has been selected as a torchbearer three times. However, being torchbearer once again, she just couldn't help showing emotional feelings, saying "so exciting" while running to next torchbearer and passing the flame on. Mulberry Replica

"I just cannot believe it. It's like a dream. So exciting!" said Ye afterwards.

In total, Ye has won 23 medals at the world championships as well as her three Olympic medals. She said that it's her dream to let ordinary people come together to share the Olympic spirit.

Ye is one of the 15 international torchbearers who have been selected to take part in the relay across Canada. Another international torchbearer from China is Yang Yang, who carried the torch in Summerside, Canadian eastern province of Prince Edward Island on Nov. 22 last year. Yang is China's first ever Olympic Winter Games gold medallist from the 2002 Games.

The torch began its journey across Canada on Oct. 30, 2009, in Victoria, capital city of Canada's western province of British Columbia. It will travel 45,000 kilometres across Canada before it reaches Vancouver's BC Place to light the Olympic cauldron for the opening ceremony on Feb. 12.

Chinese shares tumble 3 pct on higher reserve ratio

BEIJING, Jan. 13 (Xinhua) -- Chinese equities fell the most in seven weeks on Wednesday after China's central bank asked lenders to set aside more reserves as the record bank credit last year ignited fears of inflation and asset bubbles.

The benchmark Shanghai Composite Index went down 3.09 percent, or 101.31points, to close at 3,172.66 points.

The Shenzhen Component Index lost 2.73 percent, or 364.69 points, to close at 13,016.56 points.

Combined turnover expanded to 322.79 billion yuan (47.69 billion U.S. dollars) from 294.3 billion yuan on the previous trading day.