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BEIJING, July 4 (Xinhua) -- China did not lose its advantages in foreign trade despite global downturn and could retain foreign trade level above the global average once global economy recovered, a senior Chinese official said Saturday.     Yi Xiaozhun, vice commerce minister, was speaking at the Global Think Tank Summit that ended Saturday in Beijing.     Though China's foreign trade would not rise sharply as it did in the past few years, the country did not lose its foreign trade advantages thanks to policies to stimulate domestic demands, Yi said.     He said China had been diversifying foreign trade and reported increased trade with countries in Africa, Middle East, middle Asia and Latin America.     Yi also called for halt on protectionism, saying that protectionism had been picking up and about 40 percent of anti-dumping cases and 70 percent of anti-subsidy cases targeted China.     He called for pushing forward the Doha round negotiation, which he believed was key in fighting against protectionism.

CHONGQING, June 6 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao have ordered the local authorities to spare no efforts to save those people buried in a fatal landslide in the southwest city of Chongqing.     Caution must be taken to avoid life losses during the rescue work, the two leaders said.     Chinese vice-premier Zhang Dejiang arrived at the landslide site in Wulong county at 5 a.m. Saturday to oversee the rescue efforts.     At least 80 people are feared buried in the landslide at an iron ore mining area. Firemen search for survivors at the site where a landslide occured earlier in the Jiwei Mountain area, in Tiekuang Township, about 170 kilometers southeast of the downtown area, southwest China's Chongqing Municipality, June 5, 2009. At least 80 people were feared buried in the landslide at an iron ore mining area in Chongqing Municipality on Friday, according to the local government    Rescuers had pulled out seven injured people, including four seriously hurt, from the debris as of 8:30 p.m. Friday, according to the publicity department of Wulong County.     The injured were taken to hospital.     The landslide happened at about 3 p.m. in the Jiwei Mountain area, in Tiekuang Township, about 170 kilometers southeast of the downtown area.     Millions of cubic meters of rock filled a valley and buried an iron ore plant and six houses.     The trapped included quarry workers, residents and possibly passers-by.     The landslide also cut off power and communications in many parts of the town.     More than 500 rescuers are searching for the missing.     Investigation into the cause of the landslide has begun. A team of fire fighters await orders before rescue near the site of landslide at an iron ore mining area in southwest China's Chongqing Municipality, southwest China, June 5, 2009.At least 80 people are feared buried in the landslide in Chongqing on Friday, according to the local government. Rescuers had pulled out seven injured people, including four seriously hurt, from the debris as of 8:30 p.m., according to the publicity department of Wulong County, the site of the accident

BEIJING, July 10 (Xinhua) -- China's Ministry of Finance (MOF) announced Friday that it will launch two more batches of electronic savings bonds of up to 50 billion yuan (7.32 billion U.S. dollars) since next week.     According to the ministry, one batch of the e-savings bonds of 40 billion yuan has a term of three years, with a fixed annual interest rate of 3.73 percent.     The other, the five-year e-savings bonds, is worth 10 billion yuan at a fixed annual interest rate of four percent.     The two bonds will be issued from July 15 to 31, with interests to be calculated from July 15 and paid annually, said the ministry in a statement on its website.     These bonds are open to only individual investors, the MOF said.     Compared with other types of bonds, the e-savings bond is seen as more convenient for investors. For example, the interest can bepaid through direct deposit into the investor's account.     This is the second time the ministry launches this kind of bond this year, with the first issuance of two batches of e-savings bonds in April.     The ministry also said it would issue two batches of book-entry treasury bonds next week with a face value of 12.48 billion yuan and 12.65 billion yuan each.     One with the face value of 12.48 billion yuan has a term of 91 days, and the issue price, set by competitive bidding, was 99.72 yuan for a face value of 100 yuan. In this sense, the annual yield will be 1.15 percent, the ministry said.     The other has a term of 273 days, and the issue price was set at 99.077 yuan for 100 yuan, with an annual yield of 1.25 percent.     The ministry said the book-entry T-bonds will be sold from July 13 to July 15. Trading of the bonds will begin July 17.

MOSCOW, May 14 (Xinhua) -- Wu Bangguo, China's top legislator, met with Russian Duma Chairman Boris Gryzlov on Thursday. Both leaders stressed the importance of parliamentary cooperation and the unique role it serves bilateral relations.     Wu, chairman of the Standing Committee of China's National People's Congress(NPC), hailed the bilateral parliamentary cooperation at various levels in recent years. Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.He noted that such cooperation should continue to serve the interests of bilateral ties. In particular, such cooperation should first serve the strategic mutual trust and the interests of the common concerns of China and Russia.     The NPC and the Russian Parliament should provide firm support to each other on major issues involving state sovereignty, territorial integrity, and national security, he said.     The two should also reinforce strategic cooperation in international and regional parliamentary organizations, safeguard common benefits, and create a conducive environment for the development of the two countries, Wu said. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.Wu also stressed the need for joint efforts to counter the current financial crisis. He called on the parliamentary bodies to approve bilateral cooperation deals on oil and natural gas on time.     He also urged the implementation of already-signed cooperation agreements, and for support to help Chinese and Russian enterprises find new opportunities for cooperation within each other's economic stimulus plans.     The NPC and the State Duma, the lower house of the Russian Parliament, should also be actively engaged in activities commemorating the 60th anniversary of the establishment of diplomatic ties and to broadly share the idea of friendship between the two nations, Wu said.     Gryzlov said parliamentary cooperation between Russia and China has served a significant and unique role in the fast development of bilateral ties.     Especially since the two parliaments established a regular exchange mechanism, more and more Duma legislators have been involved in promoting friendship between the two countries, he said.     The State Duma hopes to further strengthen its ties with the NPC, and to promote bilateral cooperation in areas such as politics, economy, culture, environment, anti-terrorism and anti-drug smuggling, Gryzlov said.     Wu is in Moscow for an official visit to Russia. Since arriving in Moscow on Wednesday, the legislator has met with Russian President Dmitri Medvedev and Sergei Mironov, chairman of the upper chamber of the Russian Parliament, known as the Federation Council.

BEIJING, May 23 (Xinhua) -- China unveiled Saturday credit rating standards for the sovereignty entity of a central government, the first sovereign credit rating standards in China, aiming broader participation in global credit rating.     The standards were announced by Dagong Global Credit Rating Co., Ltd, one of the first domestic rating agencies in China.     The sovereign credit rating standards would be able to evaluate the willingness and ability of a central government to repay its commercial financial debts as stipulated in contracts, said the company.     The rating results could reflect the relative possibility of a central government to default as a debtor, and the rating is based on the country's overall credit value, according to Dagong.     Elements of credit risks will include the country's political environment, economic power, fiscal status, foreign debt and liquidity, said the company, adding that it judges the credit of a sovereign entity on the basis of a comprehensive evaluation of its fiscal strength and foreign reserves.     Compared with other rating agencies, Dagong pays more attention to the different economic stage of each country, and examines the features of its credit risks in a holistic and systematic view, according to Dagong.     Jiang Yong, director of the Center for Economic Security Studies under the China Institutes of Contemporary International Relations, said the financial crisis exposed a risk of the international society relying solely on the credit rating institutions of a single country, which is the largest risk of the world economy.     Luo Ping, head of the training center under China Banking Regulatory Commission, said the launch of the sovereign credit rating standards would help improve the transparency of credit rating information, and would strengthen China's position in the international financial arena.

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