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BEIJING, June 23 (Xinhua) -- Chinese banks should set up an independent risk management system in line with its strategic expansion plan as part of efforts to ward off financial risks, China's banking regulator said Wednesday.The breakout of the global financial crisis highlighted the necessity of increasing management of differentiated sovereign risks, the China Banking Regulatory Commission said in a guideline published on its website.Just as Chinese banks were expanding throughout the world, the overseas risks they were facing were on the rise, the guideline noted.Sovereign risks refer to ones that banks are exposed to when overseas borrowers or debtors are unable to repay debt because of their countries' economic, political and social changes.Chinese lenders were required to differentiate risks according to the countries involved and make policies on the minimum potential loan loss provisions ranging from 0.5 percent to 50 percent, according to the guideline.The banks must meet the requirements under the guideline by June 1, 2011.

BEIJING, June 14 (Xinhua) -- China's State Flood Control and Drought Relief Headquarters (SFDH) has sent four working teams Monday to help flood control in provinces and regions pounded by heavy rains that triggered floods and mud slides.The flood control authority held a meeting Monday night with the Ministry of Water Resources agreeing to dispatch one more working team to central Hunan Province to help consolidate river banks along the upper reaches of the Xiangjiang River and ensure the safety of reservoirs.Three other teams were separately sent Monday afternoon to Xinjiang Uygur Autonomous Region, Guangxi Zhuang Autonomous Region and the eastern province of Fujian.From 8 a.m. to 6 p.m. Monday, torrential rains pelted Guangxi, provinces of Guangdong, Fujian, Hunan and Jiangxi. Some regions even saw rainstorms, according to the SFDH.At least 24 people are missing after flash floods and landslides triggered by heavy rains engulfed two vehicles in Fujian Province Monday, according to a local official.The authority asked the Guangxi team to help with floods control and mud slides prevention work there. It ordered the team sent to Fujian to help with rescue work.The team for Xinjiang will help investigate the collapse of a reservoir dam in Xinjiang on Monday morning after heavy rains on the previous night.The local government had evacuated more than 200 families living downstream the reservoir. No casualties are reported so far.

BEIJING, July 6 (Xinhua) -- Pakistani President Asif Ali Zardari arrived in Beijing Tuesday evening, starting a five-day working visit to China.During Zardari's stay here, Chinese President Hu Jintao will hold talks with him. Premier Wen Jiabao and top political advisor Jia Qinglin will also meet with him.The leaders will exchange views on enhancing bilateral friendship and promoting reciprocal cooperation, and discuss international and regional issues of common concern, according to the Chinese Foreign Ministry.Zardari will leave Beijing for Shanghai later this week, and visit the Pakistani National Pavilion at the Shanghai World Expo.This is Zardari's fifth visit to China since he became president of Pakistan.

BEIJING, July 1 (Xinhua) -- Chinese Vice President Xi Jinping on Thursday urged members and officials of the Communist Party of China (CPC) to emulate the achievements of an official who died on duty after six years of dedicated work as a village Party secretary.Xi made the statement in Beijing while meeting with attendants to a ceremony to mark the release of a movie about the Party secretary's life in the village, and that of a book based on his diaries.The official, Shen Hao, had been a provincial government official in Anhui in central China, but was later assigned as a village Party secretary in 2004.Shen's devotion to his job brought about significant changes in the village and twice his term was extended at the request of the people in the village, though the work eventually cost him his life. He fell ill through constant overwork and died on November 6, 2009.Xi hailed Shen as a role model for CPC members and officials and urged them to maintain close ties with the people.