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China will allocate 10.6 billion yuan ($1.55 billion) to beef up development of small and medium-sized enterprises (SME) this year, says a government work report delivered by Premier Wen Jiabao at the parliament's annual session Friday.

Laiwu Steel Group, China's seventh biggest steel maker by output, announced Thursday its net profit in 2009 plunged 63 percent year-on-year to 96.9 million yuan ($14.1 million).

Qingdao Port, China's second largest foreign trade port, saw its foreign trade cargo throughput up 21 percent year-on-year in the first two months this year, the port's chairman said Thursday.

FAW Car Co, a unit of one of China's three largest auto makers, First Automotive Works, said Thursday its net profit rose 49.8 percent to 1.6 billion yuan ($234 million) in 2009 from a year earlier, fueled by strong sales.

The Chinese government made hefty investment, 44 percent of the total public investment from the central budget, to improve people's livelihood last year, Premier Wen Jiabao said at the parliament's annual session Friday.

China budgets 1.05 trillion yuan ($154.4 billion) of fiscal deficit this year to support economic growth as government revenue will fall significantly short of expenditures. China to 'strictly control' new projects 
China plans 'proper, sufficient' supply of money
China to build low-carbon industrial system 
Wen promises continuous increase in rural incomes

China plans to keep the urban registered unemployment rate no higher than 4.6 percent and create over 9 million new jobs in urban areas this year, according to a government work report delivered by Premier Wen Jiabao in Beijing Friday.

China targets a rise of consumer price of around three percent this year, says a government work report delivered by Premier Wen Jiabao at the parliament's annual session Friday.

China expects its economy to grow around 8 percent in 2010 from a year earlier, says a report delivered by Premier Wen Jiabao at the annual parliament session Friday. China to continue macro-economic policies
Consumer price expected to grow 3% in 2010
China to reform income distribution system
Wen vows to curb excessive growth of home prices

China's official purchasing managers' index for non-manufacturing sectors plunged to a one-year low at 46.4 in February from 55.1 a month earlier, the China Federation of Logistics and Purchasing (CFLP) said on Wednesday.