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BEIJING, Oct. 4 (Xinhua) -- The ongoing global financial turbulence will have a limited impact on China's banks and financial system in the short run, according to officials and experts.     "We feel China's financial system and its banks are, to the chaos developed in the U.S. and other parts of the world, relatively shielded from those problems," said senior economist Louis Kuijs at the World Bank Beijing Office.     He told Xinhua one reason was that Chinese banks were less involved in the highly sophisticated financial transactions and products.     "They were lucky not to be so-called developed, because this (financial crisis) is very much a developed market crisis." Farmers harvest rice in 850 farm in Northeast China's Heilongjiang Province on Sept. 26, 2008.    A few Chinese lenders were subject to losses from investing in foreign assets involved in the Wall Street crisis, but the scope and scale were small and the banks had been prepared for possible risks, Liu Fushou, deputy director of the Banking Supervision Department I of the China Banking Regulatory Commission, told China Central Television (CCTV).     Chinese banks had only invested 3.7 percent of their total wealth in overseas assets that were prone to international tumult, CCTV reported. The ratio of provisions to possible losses had exceeded 110 percent at large, state owned listed lenders, 120 percent at joint stock commercial banks and 200 percent at foreign banks.     Kuijs noted most of the banks resided in China where capital control made it more difficult to move money in and out. Besides, the country's large foreign reserves prevented the financial system from a lack of liquidity, which was troubling the strained international markets.     "At times like this, one cannot rule out anything," he said. "But still we believe the economic development and economic fundamentals in China are such that it's not easy to foresee a significant direct impact on the financial system."     However, he expected an impact on China's banks coming via the country's real economy, as exports, investment and plans of companies would be affected by the troubled world economy and in turn increase pressure on bad loans.     Wang Xiaoguang, a Beijing-based macro-economist, said the growing risks on global markets would render a negative effect on China in the short term but provided an opportunity for the country to fuel its growth more on domestic demand than on external needs.     He urged while China, the world's fastest expanding economy, should be more cautious of fully opening up its capital account, the government should continue its market reforms on the domestic financial industry without being intimidated.     Chinese banks had strengthened the management of their investments in overseas liquid assets and taken a more prudent strategy in foreign currency-denominated investment products since the U.S.-born financial crisis broke out, CCTV reported.

BEIJING, Aug. 16 (Xinhua) -- For a second day, the Olympic host city reported Grade I -- or excellent -- air quality on Saturday, the eighth day of the Olympics. In most of the day, the city basked in sunshine.    Figures released by the China Environmental Monitoring Center (CEMC) revealed that Beijing's Air Pollution Index (API) showed a reading of 23 on Saturday, which fell into Grade I, whose API reading ranges between 1 and 50. On Friday, CEMC's figures showed an API reading of 17.    China uses the API system to report the country's air quality. An API reading between 51 and 100, or Grade II, means the air quality is fairly good. An API reading between 101 and 150, or Grade III, entails the air quality is slightly polluted.Also on Saturday, deputy director of the Beijing Municipal Bureau of Environmental Protection Du Shaozhong said the city reported seven days with Grade I air quality in the first half month in August, which was the highest since 1998.    In the other eight days, Beijing's air quality was in Grade II, which was within the standards to host the Olympics.    "Beijing often reports more days with Grade I air quality during the autumn and winter in comparison with the summer. But this August, the number of days with excellent air quality is unusually high," he said.    Since 1998, the highest monthly number of days with excellent air quality in the summer was five, in July of 2006, he said. Last August only two days reported excellent air quality.    Du forecast that Beijing's air quality would be excellent or fairly good during the Olympics and Paralympics. "Should weather conditions be favorable, Beijing's air quality would be excellent. Should weather be unfavorable, the air quality would be in Grade II," he saidWang Zifang, a Beijing-based expert on weather forecasting, said Beijing's air quality would be excellent until Monday.    "During Aug. 19-21, the wind is forecast to change direction and may bring pollutants from cities to the southeast of Beijing, such as Tianjin and Langfang," Wang said.    Du attributed good air quality to efforts made by Beijing to curb air pollution over the last nine years, especially this year.    Beijing municipal government said it had poured more than 140 billion yuan (20.5 billion U.S. dollars) since 1998 into more than 200 projects dedicated to improving the city's air quality.    In the run-up to the Beijing Games, the host city implemented some drastic measures to reduce pollution.    In one of these measures, Beijing has imposed an odd-even restriction system based on licence plate numbers that would keep vehicles off the road on alternate days from July 20 to Sept. 20.

NANNING, Aug. 23 (Xinhua) -- Downpours brought by Typhoon Nuri swept south China's Guangdong and Guangxi from Friday to Saturday, but no casualties have been reported. From 8 a.m. Friday to 2 p.m. Saturday, rainstorms accompanied by winds of up to 68 km per hour, hit the southeastern areas of Guangxi Zhuang Autonomous Region, with the biggest precipitation of 350 mm in Beiliu County, according to the regional meteorological station. A float bridge is damaged by the gale at Dayawan sea area in Shenzhen, south China's Guangdong Province, Aug. 22, 2008    Heavy rain was forecast to continue in the region on Sunday and Monday.     Typhoon Nuri was downgraded to a strong tropical storm on Friday afternoon after it landed in the coastal areas along Sai Kung of Hong Kong. The storm made another landfall in southern Guangdong late on Friday, packing winds of up to 90 km per hour. Heavy clouds are seen over the skyline in Zhuhai, south China's Guangdong Province, Aug. 22, 2008.In a farming yard in Guangzhou, Guangdong's capital, 186 tourists, including 55 foreigners, were evacuated to safe areas by police after the wooden house where they stayed were damaged by strong winds with power cut off.

BEIJING, July 7 -- Chinese state-owned banks, including Industrial & Commercial Bank of China, intend to boost the contribution of the credit card business to their profits as they tap the rising demand to use plastic to pay for purchases.     ICBC, the country's biggest lender, expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million now, Li Weiping, president of the Beijing-based bank's card center, told Shanghai Daily on Saturday in Shanghai. Industrial & Commercial Bank of China Ltd expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million nowThe country's biggest bank, which had earlier planned to boost card number to between 35 million and 38 million, expects to achieve the target, going by the pace of its card issuance in the first half, Li said. The credit card business accounts for about 10 percent of the bank's intermediary business, or fee-based income, and is one of the main contributors.     Chinese banks are shifting from its traditional deposit-lending business as they expand their profit avenues.     ''We expect the contribution (of credit cards to profit) to grow by 2 to 3 percentage points annually,'' Li said.     ICBC is among the country's "big four" state-owned banks to speed up the credit card business while their smaller joint stock rivals have already an edge in the market.     China Merchants Bank, the sixth biggest lender on the Chinese mainland, has one-third share of the credit card market. Other state-owned banks, including Agricultural Bank of China, said they are seeking growth as they pursue prudent risk control.     China Construction Bank expects to break even on its credit card business next year, said Wu Huitao, deputy general manager of the bank's credit card center. CCB targets card numbers at 20 million at the end of this year, from 16 million now, Wu said.     Credit cards will be the most important consumer credit product after mortgages, with profit forecast to reach US.6 billion by 2013, accounting for 22 percent of total consumer credit profits, said New York-based McKinsey & Co.

BEIJING, Sept. 1 (Xinhua) -- Along with more than 3,000 teachers and students, Premier Wen Jiabao attended the opening of a temporary middle school in southwest China's quake zone as the new semester started on Monday.     Beichuan Middle School was among the hardest-hit schools in the May 12 earthquake. Wen visited students and teachers at the school three times prior to the Monday event. Chinese Premier Wen Jiabao (R front) attends the opening of the temporary site of Beichuan Middle School located in the courtyard of the Changhong training center in Mianyang, China's quake-hit Sichuan Province, Sept. 1, 2008. A new semester started on Monday. Following the flag raising and national anthem, Wen said: "Students and teachers, it's been exactly 110 days since the May 12 earthquake. Beichuan survives, and the Beichuan Middle School survives. We stand on our own feet, tough and unafraid.     "The quake brought considerable misfortunes, and it brought experience and strength, too. Now we know one thing, and it's that as long as we choose to confront adversity with courage, we will surely overcome any disaster.     "As we hold this ceremony, we can never forget the students and teachers who died in the disaster ... I hope all of you at the school will win respect and pride with hard work and tough spirits. I believe you can do it." The temporary Beichuan Middle School is located in the courtyard of the Changhong training center in Sichuan's Mianyang City. Chinese Premier Wen Jiabao (4th L) attends the opening of the temporary site of Beichuan Middle School located in the courtyard of the Changhong training center in Mianyang, China's quake-hit Sichuan Province, Sept. 1, 2008    Upon departure, Wen told teacher Li Jun to give his best regards to those of Li's students who took this year's college entrance exams in tents. Among the 69 students in Li's class, more than 50 went to college.     The May 12 earthquake killed more than 69,000 people with nearly 18,000 still missing. Chinese Premier Wen Jiabao (L front) attends the opening of the temporary site of Beichuan Middle School located in the courtyard of the Changhong training center in Mianyang, China's quake-hit Sichuan Province, Sept. 1, 2008Meanwhile, a 6.1-magnitude tremor on Saturday forced the suspension of classes at some primary and middle schools in Sichuan and neighboring Yunnan Province. At least 40 people were killed.     The municipal government of hard-hit Panzhihua City, Sichuan announced on Monday that schools and kindergartens would not open for another week