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TAIPEI, May 31 (Xinhua) -- A Chinese mainland business delegation arrived in Taiwan Sunday to kick off a buying spree to expand trade ties and offset the effects of the global economic downturn.     The group, organized by the Mainland Association for Cross-Strait Economic and Trade Exchanges, comprised about 80 representatives of 35 companies, including IT and home appliance giants Lenovo, Haier, Changhong and ZTE.     The shopping list could include home appliances, machinery, textiles and foodstuffs manufactured on the island, said Li Shuilin, director of the association and delegation head.     The mainland businesses would hold talks with Taiwan firms in Taipei and Kaohsiung to learn more about their products and market potential in the mainland, Li said.     They would probably make some purchasing orders, although no exact plans had been announced, he added.     The delegation, the first of its kind, was warmly received on the island amid the mainland's repeated calls for collaboration across the Taiwan Strait to cope with the international economic downturn.     This marked a substantial step by the mainland to help boost investment in Taiwan and the purchase of Taiwan products, proposed by Chinese Premier Wen Jiabao in April, Li said.     The mainland announced last week that seven to nine procurement delegations to Taiwan would be organized from May to September to help develop the island economy during the global downturn.     The China Video Industry Association would organize a visit of leading mainland television producers on Monday to hammer out a planned 2.2-billion-U.S.-dollar contract for TV parts produced in Taiwan.     Also in June, tea merchants and fruit organizations would visit central and south Taiwan. In September, representatives of trading cooperatives from 11 provinces and cities, six industry associations and 13 agricultural products producers will visit the island.     Mainland telecommunications companies, including China Telecom, China Mobile and China Unicom, also plan purchasing visits the island.

MILAN, Italy, May 19 (Xinhua) -- China's top legislator Wu Bangguo said here on Tuesday that China and Italy should explore new areas of cooperation as they face major opportunities in addressing the grim challenges of the international financial crisis.     Wu is the first chairman of the Standing Committee of the National People's Congress (NPC) who has visited Italy since 1997.He arrived in Milan on Monday evening for an official goodwill visit. Wu met with Roberto Formiconi, president of Lombard Region of Italy on Tuesday.     During the meeting, Wu said as one of the most economically vigorous regions in Italy, the Lombard Region is leading the country in carrying out cooperation with China. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with Roberto Formiconi, president of Lombard Region of Italy, in Milan May 19, 2009    Wu said the international financial crisis has posed grim challenges to world economy. But at the same time, it has brought about major opportunities for expanding cooperation between China and Italy.     Wu expressed the hope that the two sides could explore new areas of cooperation in face of the challenges and step up cooperation in such fields as scientific research, clean energy and environment protection.     Formiconi said the local government and people of the Lombard Region cherish friendly feelings toward the Chinese people. He expressed appreciation of China's active response to the financial crisis, saying that China's development is encouraging and provides fresh air to the world.     Formiconi said the Lombard Region is ready to strengthen cooperation with China in such fields as economy, technology, energy efficiency, environment protection, education and tourism. He welcomes more and more Chinese companies to invest in the region.     On the 2010 Shanghai World Expo, Wu said the event is a new bright spot in China-Italy cooperation. Noting that the Shanghai World Expo is yet another global event in China after the 2008 Beijing Olympic Games, Wu said the Chinese government and the local government of Shanghai have received assistance from Italy and other members of the international community in preparing for the event.     Wu expressed the belief that the Shanghai World Expo will leave a wonderful record on the history of the event.     Milan has won the bid to host the 2015 World Expo. It has signed a memorandum of cooperation with Shanghai on staging the World Expo.     Wu hopes that the two sides could utilize this platform to expand exchanges and cooperation so as to add new vigor to China-Italy relations.     Formiconi expressed the willingness to actively participate in the Shanghai World Expo, which he regards as an important area of cooperation between the two sides. He hopes to learn the experience of Shanghai in hosting the World Expo.

MOSCOW, May 29 (Xinhua) -- Russian President Dmitry Medvedev said on Friday that he is looking forward to meeting with Chinese President Hu Jintao next month during the Chinese leader's trip to Russia.     Medvedev, who met with Chinese State Councilor Dai Bingguo on Friday, said he and Hu will exchange views on major international and regional issues of common concern during their June meeting. Russian President Dmitry Medvedev (L, front) shakes hands with Chinese State Councilor Dai Bingguo (R) while meeting with security representatives of the BRIC countries (Brazil, Russia, India and China) in Moscow, Russia, May 29, 2009In addition to meeting with Medvedev, Hu also is scheduled to participate in summits of the Shanghai Cooperation Organization and the BRIC countries (Brazil, Russia, India and China) in Yekaterinburg.     Meanwhile, Medvedev said Russia-China relations enjoy sound momentum and that Russia is satisfied with the current state of bilateral ties between the two countries.     Dai, for his part, said Hu's state visit to Russia and attendance at the summits will be of great significance.     China, Dai said, is willing to work with Russia to take their strategic partnership to a higher level.

BEIJING, July 5 (Xinhua) -- The Bank of China (BOC), China's largest foreign exchange bank, will transact the first cross-border yuan trade settlement deal Monday, a source with the bank said Sunday night.     The BOC Shanghai branch would receive the first cross-border yuan trade settlement deal from the BOC (Hong Kong) Monday, the unidentified source said.     The payee would be Shanghai Electric International Economic and Trading Co., Ltd. under Shanghai Electric Group Co., Ltd. and the remitter would be the company's business partner in Hong Kong.     China last week issued detailed measures to regulate the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using Renminbi (RMB) to settle trade with Hong Kong and Macao and regional trade partners.     "The service has drawn much attention and many overseas enterprises had been asking us about it months ago. Why? Because cross-border yuan trade settlement could help enterprises avoid exchange rates risks, lock up financial costs and reckon enterprise anticipated profits," the source said.     "In comparison to convertible currency settlement, it could streamline links and reduce trade cost. It could help enterprises without foreign exchange revenues cut losses from converting foreign exchanges. It could reduce derivative fees in selecting RMB financial products," said the source.     The BOC Shanghai branch has reached tentative agreements with 11 overseas agent banks on yuan trade settlement deals. Now the agent banks in tentative agreements with the BOC mostly are large banks in Asia and they anticipate remarkable demand on yuan settlement, according to the sources.     "We are in talks with banks in the United States and Europe and get very positive feedbacks. Despite some obstacles in cross-border yuan settlement, the trend is good," the source said.

BEIJING, May 22 (Xinhua) -- The Chinese mainland will send a sports delegation to participate in the 2009 World Games to be held in Kaohsiung, a southern coastal city of Taiwan.     Liu Peng, chairman of the Chinese Olympic Committee (COC), said athletes from nine associations of the COC will compete in the games.     He made the promise during his meeting with Kaohsiung City Mayor Chen Chu in Beijing Friday.     The mainland will also send an observation delegation to the games, Liu said, adding that sports is a medium and bridge which connects people on both sides of the Taiwan Straits.     Chen Chu said her delegation hoped to learn from the successful experience of the Beijing Olympic Games.     She led a promotion team for the 2009 World Games to the mainland on Thursday. The games will be held from July 16 to 26.