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BEIJING, March 11 (Xinhua) -- The Bank of China (BOC) plans to issue new Hong Kong-listed H shares, about 20 percent of its current H shares, as soon as possible, said BOC Board Chairman Xiao Gang Thursday.But the BOC had to wait for approvals from shareholders and securities regulators on the mainland and in Hong Kong, Xiao said.The BOC, China's third largest bank by market value, in January declared it would sell no more than 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The BOC currently had no acquisition plans in China or overseas, Xiao said.The biggest credit risks lied in the local governments' financing units and the BOC was tightening loans to these units, he said.

BEIJING, Feb. 21 (Xinhua) -- China's tourism revenue rose 26.9 percent to 64.62 billion yuan (9.46 billion U.S. dollars) during the Spring Festival, the National Tourism Administration (NTA) said Sunday.China received 125 million tourists during the holiday period from Feb. 13 to 19, up 14.8 percent from the same period last year, a statement on the NTA website said.Of the tourism revenue, 4.6 billion yuan came from airlines while 2.83 billion yuan from railways. The tourists spent 26.51 billion yuan in China's 39 key tourism cities and 30.68 billion yuan in other areas.Among the tourists, 29.92 million stayed overnight and 95.13 million stayed for less than one day.

BEIJING, March 20 (Xinhua) -- The appreciation of renminbi, or China's currency yuan, will not help tackle the global economic imbalance, economists said here Saturday.The idea that yuan's appreciation would cure global economic imbalance was not going to happen, Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, said at the China Development Forum 2010.To solve trade imbalance, countries such as the United States and China should seek measures to encourage domestic consumption, improve social well-being and reform pension system, instead of sticking to the exchange rate issue, Gurria said.The exchange rate adjustment, especially between the United States and China, would not help cut the U.S. trade deficit, while one way to tackle the problem is to loose restrictions on high-technology exports to China, Nobel Prize-winning economist Joseph Stiglitz said.Since China overtook Germany to become the world's largest exporter, the country is facing increasing criticism for devaluating the yuan to earn artificial price advantages. Some U.S. senators have recently ratcheted up pressure on yuan appreciation and urged the government to label China as currency manipulator."If the U.S. government names China as a currency manipulator, quite unfortunately, it will hurt the bilateral relations at least in short and medium term," said Li Daokui, director of the Center for China in the World Economy of Tsinghua University."The two countries should be cooperative to solve the problem, while naming China as a currency manipulator will be no help," Li said."After all, it will not be in the interests of the United States, China and the whole world if the two countries' disputes escalate into a trade war," he said.

UNITED NATIONS, March 24 (Xinhua) -- China on Wednesday voiced its support for the international efforts to promote the Middle East peace process, saying it will continue to play a constructive role in working with the international community for durable, comprehensive and fair solution in the Middle East.The statement came as Li Baodong, the Chinese permanent representative to the United Nations, was speaking to reporters here after the UN Security Council met on the current situation in the Middle East.Li said that China is deeply concerned about the long-stalled peace process in the Middle East. "We believe that it's very important to restart the peace process," he said. Li Baodong, Chinese permanent representative to the United Nations, speaks to reporters after the UN Security Council met on the current situation in the Middle East at the UN headquarters in New York, the United States, March 24, 2010. China on Wednesday voiced its support for the international efforts to promote the Middle East peace process, saying it will continue to play a constructive role in working with the international community for durable, comprehensive and fair solution in the Middle East"In that regard, we support the efforts made by (UN) Secretary- general Ban Ki-moon for Quartet and other parties to bring back the peace process on track."It is of paramount importance now to all parties concerned is to refrain themselves from taking proactive actions, he said."In China, we will be playing very important and constructive role along with the international community and strive for durable, comprehensive and fair solution in the Middle East," he said.

BEIJING, March 10 (Xinhua) - A senior Chinese lawmaker said on Wednesday that legislation requiring public officials to declare their personal assets is under consideration and seen as a move to prevent corruption and improve government transparency."We are researching the issue, since the legislation requires mature consideration of all conditions," said Li Fei, deputy director of the Legislative Affairs Committee of the National People' s Congress (NPC) Standing Committee.Li noted that the legislation should be assisted by the establishment of the personal credit system, which details individuals' financial information even if assets are not declared.Premier Wen Jiabao said on March 5 that high priority should be given to fighting corruption and encouraging integrity among public officials.Leading cadres at all levels, especially high-ranking ones, must resolutely implement the central leadership's regulations on reporting their personal financial situations and property, including incomes, housing and investments, as well as the jobs held by their spouses and children, Wen said.