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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.
KUNMING, Aug. 22 (Xinhua) -- Chinese local officials were ordered to carry out pre-emptive evacuations to avoid heavy casualties in geological disasters after a series of mudslides left nearly 2,000 people dead or missing in less than two weeks.In a work conference held in southwest China's Yunnan Province, Minister of Land and Resources Xu Shaoshi ordered local officials not to hesitate in forcing residents in disasters-threatened zones to move."As long as there is a sign of geological disasters looming, officials should take it seriously and carry out the evacuations," Xu said. "It is better to hear the people's blames than their cries."Xu also ordered local offcials to strengthen monitoring efforts by using advanced technologies and mobilizing the public.China has been suffering from a string of rain-triggered disasters recently as the country battles its worst floods in more than a decade.Yunnan is the latest to be hit by massive mudslides.As of Sunday, 29 people were killed and 63 remained missing after mudslides hit the remote, mountainous town of Gongshan in the province on Wednesday.In the northwestern province of Gansu, at least 1,435 people were killed and another 330 are reported missing after an avalanche of mud and rocks hit the center town of Zhouqu County at mid-night Aug. 7.Rain-triggered mudslides also killed more than 18 people in Wenchuan and Qingchuan counties in southwest China's Sichuan - which was devastated by a massive earthquake in 2008.

OTTAWA, June 25 (Xinhua) -- Visiting Chinese President Hu Jintao said on Friday that inter-parliamentary exchanges are an integral part of China-Canada relations and of great significance for enhancing mutual understanding and public endorsement of bilateral links.Hu made the remarks when meeting Noel Kinsella, speaker of the Canadian Senate, and Peter Milliken, speaker of the House of Commons.Over the years, said Hu, the National People's Congress (NPC), China's legislature, has maintained a sound relationship of cooperation and friendly exchanges with both chambers of the Canadian parliament.Chinese President Hu Jintao (C) meets with Canadian Senate Speaker Noel A. Kinsella (L) and Speaker of the House of Commons Peter Milliken in Ottawa June 25, 2010.Exchanges between the legislatures of the two countries have become increasingly vigorous with a mature mechanism and have seen many significant achievements. Such activities have played an important role in advancing bilateral relations, Hu added.The Chinese president expressed the hope that the two sides will continue to make good use of the important platform to further advance exchanges on legislation and regulation so as to promote the friendship between the two peoples and the relationship between the two countries.Over the past four decades, China-Canada relations have always moved forward despite changes in the international situation, and the two countries have conducted frequent contacts at various levels and achieved remarkable results in bilateral cooperation, Hu noted.
BRASILIA, Aug. 11 (Xinhua) -- Brazil's Foreign Ministry issued a statement late Tuesday, expressing the government's regret over the tragedy caused by mudslides in northwest China's Gansu province."The Brazilian government learned with deep regret of the avalanches" that killed at least 1,117 people, with 627 missing in China's Gansu province, the statement said.Brazil also expressed its solidarity with the Chinese government and people, offering condolences to the families of the victims.The devastating landslide, which occurred Saturday in Zhouqu City, Gansu province, also destroyed numerous houses and buildings.So far, a total of 567 survivors have received treatment while 64 seriously injured have been hospitalized, according to the provincial civil affairs bureau.
BEIJING, July 13 (Xinhua) -- China Tuesday pledged to continue to promote the development of military relations with Singapore.Chinese Defense Minister Liang Guanglie made the remarks when meeting with Chiang Chie Foo, visiting Permanent Secretary of the Singaporean Defense Ministry.Recent years had witnessed a rapid development of China-Singapore relations, with political mutual trust, a reciprocal and mutually beneficial economic relationship and fruitful cooperation, Liang said.Bilateral military ties had undergone a healthy development, with sound exchanges and cooperation mechanisms, frequent high-level visits and good cooperation in personnel training, joint military training and escort missions, Liang said.China was willing to work with Singapore to continuously boost relations between the two countries and armed forces, so as to play an active role in jointly safeguarding regional security and stability, he said.Chiang said Singapore attached great importance to the development of its relations with China.The two armed forces were expected to maintain exchanges and cooperation and to strengthen understanding and mutual trust, he said.Ma Xiaotian, deputy chief of general staff of the Chinese People's Liberation Army, and Chiang co-chaired the third China-Singapore defense policy dialogue before the meeting.Both sides exchanged views in-depth on regional security, relations of the two countries and armed forces as well as other issues of common concern and reached consensus on further strengthening military ties.They agreed to continue to enhance China-Singapore military cooperation and promote the development of friendly and cooperative military relations.The two nations held the first defense policy dialogue in January 2008 in China and the second in March 2009 in Singapore.
来源:资阳报