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BEIJING, March 11 (Xinhua) -- The Bank of China (BOC) plans to issue new Hong Kong-listed H shares, about 20 percent of its current H shares, as soon as possible, said BOC Board Chairman Xiao Gang Thursday.But the BOC had to wait for approvals from shareholders and securities regulators on the mainland and in Hong Kong, Xiao said.The BOC, China's third largest bank by market value, in January declared it would sell no more than 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The BOC currently had no acquisition plans in China or overseas, Xiao said.The biggest credit risks lied in the local governments' financing units and the BOC was tightening loans to these units, he said.

BEIJING, Jan. 13 (Xinhua) -- Chinese Vice President Xi Jinping Wednesday stressed the need for able Party officials at county and village levels for countryside development.     Xi, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when meeting with the relatives of Shen Hao, former secretary of a village committee of the CPC, whom Xi described as setting up an ideal example for village officials.     During his six years as the Secretary of the Xiaogang Village Committee of the CPC in east China's Anhui Province, Shen led impoverished villagers to build roads, improve housing facilities and help increase villagers' annual income from 2,300 yuan (337 U.S. dollars) to 6,600 yuan per capita.     On Nov. 6, 2009, he died of heart attack at the age of 45.     He was posthumously honored with the title of "national outstanding CPC member" and "the people's civil servant."     Xi said Shen had left a great legacy as a modern CPC village cadre with his "loyalty and love, innovation and hard work."     He urged Party officials at county and village levels to learn from Shen and contribute to the building of the socialist new countryside

BEIJING, Jan. 29 (Xinhua) -- Chinese State Councilor Ma Kai urged here Friday that public complaints and petitions should be handled properly to promote social stability and harmony.Ma Kai, also secretary-general of the State Council, or cabinet, made the remarks at a national conference attended by heads of relevant government departments dealing with such petitions.Ma stressed that the government should make more efforts to prevent the occurrence of disputes and complaints right from the start.He also called for better investigation and sound settlement of petition cases.He urged setting up a risk assessment system in the decision making procedure in major social issues.Better implementing existing policies and the accountability system for relevant official departments are also needed, Ma said.

BEIJING, Jan. 23 (Xinhua) -- The Bank of China (BOC) board has agreed to sell up to 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The proposal will be turned into the first temporary shareholders' meeting in 2010, which will be held on March 19, for approval.Excluding issuance costs, the proceeds from the issuance of the six-year convertible bonds will be used to replenish the bank's capital base and working capital and to lift its capital adequacy ratio, according to the BOC, the third largest lender by market value in China.The BOC has been implementing positive financial policies and relatively loose monetary policies since 2009.The BOC capital adequacy ratio stood at 11.63 percent and the core capital adequacy ratio at 9.37 percent by the end of September 2009.

BEIJING, Jan. 24 (Xinhua) -- China's central bank asked the nation's lenders to increase loans for rural development as farmers and rural business still had limited access to financing.Banks should issue more microloans to farmers to foster rural industries and urbanization, Liu Shiyu, deputy governor of the People's Bank of China, said at a meeting on rural financing service on Sunday."More efforts should be made to encourage financial institutions to offer rural financing services and participate in rural financial market," he said.Rural credit cooperatives should speed up corporate restructuring and play a leading role in rural financial market, Liu said.He also urged efforts to establish more village banks, microcredit companies and new types of financial institutions.Poor access to fund, as one of the reasons, has long kept China's rural development left behind the urban modernization.The situation has not been significantly improved despite repeated calls by government, as banks are relunctant to lend for lack of collaterals.By the end of September 2009, rural loans increased 29.1 percent year on year to 8.8 trillion yuan (1.29 trillion U.S. dollars), 8.3 percentage points higher than a year earlier