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BEIJING, Sept. 28 (Xinhua) -- Chinese banks have extended more loans to small firms to ease their financial predicaments as the government tightens monetary supply, a banking regulator said Wednesday.Outstanding loans to small firms grew 26.6 percent year-on-year to hit 9.85 trillion yuan (1.55 trillion U.S. dollars) at the end of July, said Xiao Yuanqi, an official in charge of financial services for small enterprises at the China Banking Regulatory Commission.The growth was 10 percentage points higher than that of the banks' total outstanding loans, Xiao told Xinhua.More than 100 commercial banks have set up special operations to ease small firms' difficulties getting access to bank credit, he noted.The figures came at a time when China is trying to balance the missions of countering inflation and sustaining the growth of small enterprises.The People's Bank of China, or the central bank, has raised the benchmark interest rate three times this year and increased the reserve requirement ratio six times.The measures bit into small, cash-strapped companies, which are already disadvantaged in seeking bank support due to insufficient collateral.Only 15 percent of China's small enterprises could get loans from banks and half of them had to resort to private lenders, according to a report by the National School of Development with Peking University in July.With tighter liquidity and stricter regulatory requirements on capital-adequacy ratios and loan-deposit ratios, banks are more reluctant to lend to small firms, said Ai Min, a retail banking general manager with China Minsheng Banking Corp., Ltd.Besides, the expanding size of lending to small firms may lead to higher risks, said Ai.He suggested banks improve the risk evaluation and collateral system for loans to small firms.

SAN FRANCISCO, Aug. 9 (Xinhua) -- Nokia is planning to stop selling its low-end phones and smartphones in the United States, instead focusing on products using Microsoft's Windows Phone platform, U.S. media reported on Tuesday.The Finnish handset maker will end sales of its low-end Series 40 phones and smartphones based on the Symbian mobile operating system in the United States and Canada, as it needs to put all of its efforts into the Windows Phone products which are due out later this year, Chris Weber, head of Nokia's U.S. subsidiary, told technology news site All Things Digital."When we launch Windows Phones we will essentially be out of the Symbian business, the S40 business, etc.," Weber said.Staff members speak to trade visitors at the Nokia booth at the CommunicAsia expo in Singapore June 21, 2011.In February, Nokia and Microsoft announced plans to form a broad strategic partnership, under which Nokia agrees to adopt Windows Phone as its principal smartphone strategy.North America is a priority for Nokia, Weber noted, in part because it is a key market for Microsoft and also because Nokia sees it as a key to winning in the smartphone battle globally."We'll develop for North America and make the phones globally available and applicable," Weber said.In another development, technology blog Engadget and other U.S. media on Tuesday reported that Nokia will not bring N9, its first smartphone running the Linux-based mobile operating system MeeGo, to the U.S. market."After the very positive reception to the launch of the Nokia N9, the product is now being rolled out in countries around the world. At this time we will not be making it available in the U.S., " Nokia said in a statement.
MOSCOW, Aug. 26 (Xinhua) -- Russia will carry out two unmanned test launches of Soyuz carrier rockets in the coming fall before delivering crews to the International Space Station (ISS), local media reported on Friday.Citing a source, RIA Novosti news agency said that one of the Soyuz rockets was scheduled to send a new Progress M-13M space freighter to the ISS.On Wednesday, a Progress M-12M cargo ship failed to reach the orbit after the engine of a Soyuz-U carrier rocket turned off during the ascend. Soon after the accident, Russia announced it will temporarily ground all Soyuz rockets.Due to the accident, Russian space authorities have put off Thursday's launch of a Soyuz-2 carrier rocket from the Plesetsk Space Center in northern Russia and a launch of a manned space ship from Baikonur space center in Kazakhstan.After the retirement of the U.S. shuttle fleet, Russia's Soyuz spacecrafts have become the only way for astronauts to reach the ISS until at least the middle of the decade.
XICHANG, Sichuan, July 27 (Xinhua)-- China successfully launched an orbiter into space at 5:44 a.m. Beijing Time Wednesday, as a part of its indigenous satellite navigation and positioning network known as Beidou, or Compass system, sources with the launch center said.The orbiter,launched from the Xichang Satellite Launch Center in southwestern Sichuan Province, was boosted by a Long March-3A carrier rocket into a geostationary orbit.China started to build up its own satellite navigation system to break its dependence on the U.S. Global Positioning System (GPS) in 2000.A Long March-3A carrier rocket lifts off at the Xichang Satellite Launch Center in southwest China's Sichuan Province, July 27, 2011. China successfully launched into space a ninth orbiter for its independent satellite navigation and positioning network known as Beidou, or Compass System here early WednesdayBetween October 2000 and May 2003, the country set up a regional satellite navigation system after launching three Beidou geostationary satellites.The system was known as Beidou-1 and is said to have played an important role in the rescue efforts following the devastating earthquake in May 2008 in Wenchuan as it provided the only channel connecting the quake-hit area and the outside.The Beidou-1 system can not meet growing demand, so a better functional Beidou-2 regional and global navigation system will be set up, Qi Faren, former chief designer for Shenzhou spaceships said in an interview with Xinhua early this year.From April 2007 to April this year, China launched another eight orbiters to form its Beidou-2 system, which will eventually consist of 35 satellites.The network will provide satellite navigation, time and short message services for Asia-Pacific regions by 2012 and global services by 2020.
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