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DAVOS - Once Chinese entrepreneurs change their focus from the domestic market to abroad, their business mode will beat US competitors and take a larger share of foreign markets, Chinese CEO Kai-Fu Lee said during the World Economic Forum here.

Currently, individual applicants living somewhere other than the place of residence indicated in their hukou, or residence permit, often found it necessary to return to their hometown to get a passport or travel document, because a person in another province requires proof of address, employment, study and kinship, Qu Yunhai, deputy director of the State Immigration Administration, said during a news conference in Beijing.

Currently, the currency's international use covers all the functions of store of value, unit of account and medium of exchange. However, the share of the renminbi in global usage is still limited. For instance, the renminbi is one of the IMF's SDR basket currencies. But the renminbi share that central banks hold is only about 2 percent while the dollar accounts for 64 percent. In global payments, the renminbi ranked No 5 or 6, but its world share was 1.9 percent, much lower than 39.1 percent of the dollar.

Credit risk refers to the possibility of a loss resulting from the borrower's failure to repay a loan or meet contractual obligations. It also refers to the risk that a lender may not receive the owed principal and interest, thereby resulting in strained cash flows and increased costs.

DA NANG - The APEC 2017 logo exhibits spirit of cooperation, the essence of Vietnamese culture and innovation and creativity, Designer Trinh Minh Trung, co-author of the APEC 2017 logo told Xinhua here on Thursday. Many eye-catching panels and billboards featuring stylized yellow lotus flowers in a dark yellow background have been erected in Vietnam's central Da Nang city, the host city of the APEC Leaders' Week slated for Nov. 6-11. Trung, also director of Mark and B Vietnam Company in Hanoi, told Xinhua that they chose lotus because it is Vietnam's national flower. The lotus is stylized as star facets of diamond, symbolizing glorious beauty and eternity. The dark yellow background also has its own meaning. "Normally, the main color of the APEC 2017 logo is blue, but we want to make a difference for the APEC Leaders' Week. Dark yellow is the color of the earth, the soil. It symbolizes the warmness, the growth and prosperity of all member economies," he said. While the 21 sun rays symbolize 21 APEC member economies, the three colors - blue, red and yellow - represent APEC's three pillars of cooperation, namely, investment and trade liberalization, business facilitation as well as technical economic cooperation. The circular motion of rotating turbine represents APEC's dynamism.