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YUSHU, Qinghai, April 19 (Xinhua) -- Chinese President Hu Jintao visited quake-hit Yushu in northwest China's Qinghai Province Sunday, vowing to help victims rebuild their homes as most of them now settle in tents with basic needs met.The 7.1-magnitude quake, which struck the Tibetan Autonomous Prefecture of Yushu Wednesday morning, had left at least 1,706 dead, 256 missing and 12,128 injured, as of 10 a.m. Sunday.THERE WILL BE NEW HOMESIn a morale-raising visit to quake-hit Yushu, Hu assured locals of new homes and schools and steadfast relief work."There will be new schools! There will be new homes!" Hu wrote in chalk on a blackboard in a makeshift classroom in a tent of orphaned students.The president led the students in reading aloud the words he wrote on the blackboard. Chinese President Hu Jintao(C)speaks to soldiers of the Chinese People's Liberation Army and policemen carrying out relief work at Zhaxike Village of Gyegu Town in quake-hit Yushu County,northwest China's Qinghai Province, April 18, 2010.The Yushu School for Orphans visited by Hu was the first one to resume classes. A total of 60 primary and middle school students and more than 10 teachers sang the national anthem before classes began at 3:30 p.m. Saturday.The president also talked to an injured Tibetan man in a medical tent."The Party and the government care about all the victims of the quake. Doctors will give you meticulous treatment...The party and the government will help with a new home...You should have confidence and recover," Hu said as he held the injured man's hands.The Tibetan man replied, "Thank you, General Secretary. Tashi Delek!" (Tashi Delek means good luck in Tibetan)Hu's plane landed at Yushu's Batang Airport Sunday morning after an over-three-hour flight from Beijing.The president, who returned to China Saturday from a shortened visit to Latin America, headed for worst-hit Gyegu Town in Yushu immediately after landing.CONCERTED RELIEF EFFORTS CONTINUEChinese rescuers have saved a 68-year-old man who was trapped under earthquake rubble for 100 hours.The old man was rescued at about 11 a.m. Sunday in Gyegu Town, Yushu, and his condition appeared stable, rescuers said. The man was later taken to hospital.Rescuers had saved 17,000 trapped people and a total of 6,870 people had been pulled out from under the rubble of collapsed buildings, among whom 6,110 survived, Miao Chonggang, deputy head of the China Earthquake Administration's quake relief and emergency response department, told a press conference.Miao said currently more than 15,000 rescuers, including over 11,000 from the People's Liberation Army and armed police, 2,800 firefighters and special police forces, and 1,500 earthquake and mine accident rescuers, are still searching for quake survivors in Yushu.

BEIJING, April 22 (Xinhua) -- The Chinese government announced a string of emergency measures Wednesday to provide convenient financial services for people in the quake-hit Qinghai Province and to support reconstruction.The People's Bank of China, the central bank, would lower the deposit reserve ratio for financial institutions in the quake area by 1 percentage point from Wednesday to help increase lending, said a statement posted on the website of the central bank.It would also reduce its rediscount rate for local Rural Credit Cooperatives by 1 percentage point to ease their financial burden.The rediscount rate is the interest rate charged to banks and deposit institutions when they borrow money from the central bank.The return of loans extended before the earthquake was not imperative until June 30, 2011. Residents and companies would be exempted from bad credit records if they could return their loans before the deadline, the central bank said.The statement urged local banks to resume business as soon as possible to meet rising demand for financial services.They should set up temporary outlets in tents, extend office hours and take measures to ensure adequate cash supplies so that residents could deposit and withdraw money conveniently.The measures were jointly introduced by the People's Bank of China, the China Banking Regulatory Commission, the China Insurance Regulatory Commission and the China Securities Regulatory Commission.The 7.1-magnitude quake struck the Tibetan Autonomous Prefecture of Yushu on April 14, leaving 2,183 people dead, 84 missing, and 12,135 injured as of Wednesday.

BEIJING, April 5  --The People's Bank of China says the country will be more open to foreign capital this year even though the prospect of a strong economic recovery is still unclear.Although the impending withdrawals of various countries' economic stimulus packages may also complicate the efforts to end the global economic crisis, the Chinese government has decided to increase the penetration of foreign capital into the country's financial industry in an appropriate way.An editorial in the "Global Times" quotes some western officials who said if China opened its market to western financial institutions the way it opened its market to five-star hotels, the potential risks would be huge for the country itself and the world at large.The editorial warns the doors to free trade should not swing open too quickly and that market openness should be managed at the right pace, as China has done during the past three decades. But it also notes that the stakes are higher in the country's financial industry. It argues that if China is fully open to foreign capital, the capital operation pattern common in developed economies such as the United States and several European nations will not suit its existing financial system on such short notice. As a result, chaos would erupt sooner or later in the financial sector.The editorial concludes that China should gradually liberalize its financial industry, because a sudden torrent of foreign capital would be undesirable. It calls for a prudent approach to financial liberalization that would yield a productive outcome as evidenced over the past three decades of gradual financial reform whereby more market competition has been encouraged and distressed loans have been effectively curbed. Such a policy has shielded China from being hit as severely by the current financial crisis and enabled it to rebound quicker than other advanced nations.

BEIJING, April 30 (Xinhua) -- Overseas Chinese hailed the opening ceremony of the 2010 Shanghai World Expo Friday, saying it was a "perfect example of integration of Chinese characteristics and world diversity.""As an overseas Chinese, I feel so proud to see such a great event being hosted by China, and I feel the same excitement as was in Beijing Olympic games," said He Xiaohui, a Chinese community leader in Washington.She said the performance stage used blue as its main color, a color that represents peace and harmony, which echoes the theme of the expo."The Shanghai Expo could be a good opportunity. On the one hand, it will make the world better understand the world. Meanwhile, and more importantly, it will make the world better understand China."In Germany, Fu Chunping, chairman of the federation of Chinese associations, said he was deeply impressed by (Jean-Pierre Lafan, president of Internatinal Exposition Bureau)'s long sentences of Chinese in his address, which "showed the world's recognition of the Chinese culture."Fu said Chinese people in Germany were proud of the homeland and wished the Shanghai Expo a full success.In Italy, ethnic Chinese got together and watched the televised opening ceremony, describing it as a showcase of China's development.Though a work day, many local Chinese gathered in the Wenzhou Bar in downtown Rome to watch the live broadcast from China's CCTV channel 4.As an organizer of local Chinese, Xiaomin Chen told Xinhua that many Chinese came to the bar earlier for the celebation. "Some even cancelled their appointments and other social activities to watch the opening ceremony, because it is the most important thing for them today, they won't miss the chance.""Now they watch TV, some of them have already arranged their trip to China to visit the World Expo in Shanghai. They usually leave for Shanghai in August because many Italians will go abroad for vacation," he said.Zhengxi Chen, another organizer, told Xinhua the Shanghai Expo was an opportunity both for China and the world, especially at a time when the world was suffering from the impact of the financial crisis.For local Chinese in Italy, the World Expo in Shanghai was also a historical chance to learn new knowlege and creative ideas, he said.In South Korea, Chinese students there used their cellphones, MSN and emails to share the excitement of the opening ceremony.Zhang Leisheng, a student at Yonsei University, said he was very exicted after watching the gala live through the Internet with his Chinese compatriots."The spectacular ceremony made me feel very proud to be a Chinese," he said.Over 100 years ago, when China took part in London's World Expo, it was just playing a supporting role and now it had become a host of World Expo, said Pu Bo, a student at Sungkyunkwan University, adding that he was very pleased with a stronger China.The Shanghai World Expo opened Friday night with artistic performances, fireworks and high technologies that epitomized 159 years of Expo history.Thousands of people watched the gala live at the futuristic, UFO-shaped Shanghai Expo Cultural Center, a centerpiece facility at the Expo Park, while thousands more enjoyed fireworks, lights and fountains on the waterfront promenade, the Bund.It is the first time the 159-year-old World Expo has been held in a developing country.

TASHKENT, May 3 (Xinhua) -- Regional financial cooperation in East Asia has made active progress over the past year, Chinese Finance Minister Xie Xuren said after meeting with his counterparts from countries in the region.In particular, achievements were made in establishing the regional multilateral financial assistance mechanism and in promoting an Asian bond market, Xie told Xinhua on Sunday after attending the finance ministers' meeting of the Association of Southeast Asian Nations, plus China, Japan and South Korea (ASEAN+3) here.Xie said all parties concerned reached further consensus on basic parameters of a regional economic surveillance unit at the meeting.Uzbek President Islam Karimov(L) shakes hands with Chinese Finance Minister Xie Xuren in Tashkent, capital of Uzbekstan, May 3, 2010. The unit is responsible for monitoring the countries' economic and financial situations and providing advices for the regional foreign currency reserve pool, known as Chiang Mai Initiative Multilateralization (CMIM) that formally came into effect on March 24, 2010.The ASEAN+3 meeting also announced the setting up of a regional credit guarantee and investment fund with an initial grant of 700 million U.S. dollars, in an effort to promote the issuance of bond in domestic currencies within the region, Xie said.The finance ministers also agreed to create a working group to discuss future strategic fields for regional financial cooperation.