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HONG KONG, Sept. 28 (Xinhua) -- The launch of Renminbi sovereign bonds in Hong Kong on Monday shows China's efforts to boost the international use of the yuan step by step, officials and analysts said.     The bond issue, worth only 6 billion yuan (878.5 million U.S. dollars), marked a key milestone in the internationalization of the RMB.     Hong Kong was chosen for, and will benefit from, the milestone bond sale thanks to its unique position as the international financial center providing desired cushion against the potential risks when the program was launched, analysts said.          BOOSTING INTERNATIONAL USE OF RMB     The bond issue in Hong Kong came earlier than expected, said Hu Yifan, an economist with CITIC Securities.     "The need for the RMB to go international and convertible has been growing along with the increasing importance and openness of the Chinese mainland economy and the risks arising from over- reliance on the United States dollar as the reserve currency," said Tse Kwok-leung, head of economic research of Bank of China ( Hong Kong) Limited.     China has been launching pilot RMB programs over the years, but the pace has obviously quickened since the onset of the global financial crisis. Pilot RMB programs launched in Hong Kong over the past 12 months also included yuan-denominated cross-border trade settlement and trade financing, yuan bonds issued by policy banks, commercial lenders and the branches of foreign banks, and currency swaps.     The sovereign bond issue would help "boost the international use of the RMB in a steady and orderly manner," the Chinese Ministry of Finance quoted Acting Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Henry Tang as saying.     The sovereign bond sale in Hong Kong serves the purpose of water testing to "see how it is received by international investors." Hong Kong has a unique strength in that it provides the desired cushion against potential risks when the pilot programs were launched, given that the mainland capital market was yet to open up, Tse said.          BOOSTING NASCENT BOND MARKET IN HONG KONG     The bond issue ahead of the Chinese National Day showed the central government's support for Hong Kong, Vice Minister of Finance Li Yong said.     It will help Hong Kong build on its strength as an international financial center by boosting the nascent bond market in Hong Kong, Tse Kwok-leung said.     "It calls for a banking system, a stock market and a bond market, all developed, to make a developed international financial center," Tse explained.     Hong Kong has been aspiring to be the leading international financial center in the Asian time zone.     Government statistics showed that the total assets of Hong Kong's banking system and the size of its stock market were both about six times its gross domestic product, compared with a bond market equivalent to 43 percent of its gross domestic product.     Bonds issued in Hong Kong in 2008 totaled 424.4 billion HK dollars (54.4 billion U.S. dollars), with 67 percent issued by the Hong Kong Foreign Exchange Fund, which was established to defend the Hong Kong dollar peg to the U.S. dollar.     The other 33 percent were accounted for by development banks from outside Hong Kong and corporate bonds issued by local players. There were no sovereign bonds.     Tse said the bond issue will also help improve the liquidity of, and diversify, the local bond market. It will also improve the operation of the RMB bond market in Hong Kong by helping find the benchmark interest rate in the local market.     Tse said the demand for sovereign bonds issued by an economy as strong as the Chinese mainland was huge, given the impact of the global financial crisis on the corporate bond market.     Vice Minister of Finance Li Yong also said he believed the bonds will be well received.     "I believe the RMB sovereign bonds will prove popular with investors looking for safe and prudent investments. I definitely think it will be successful," Li said.

NAIROBI, Aug. 26 (Xinhua) -- A visiting Chinese Tibetologist delegation on Wednesday gave Kenyan lawmakers an insight into Tibet and its issues.     Shes-rab-nyi-ma, vice president of China's Central University for Nationalities and head of the Chinese delegation, introduced the basic facts of Tibet, the origin of the "Tibetan issue," the efforts the Chinese government has taken to develop the local economy and to protect the indigenous language and culture, and the system of regional autonomy for ethnic minorities in China.     Legislator Ahmed Shakeel Shabeer said many Kenyan lawmakers didn't know much about Tibet before and most of them had been influenced by western media on the Tibetan issue due to their British-style education. The Chinese Tibetologist delegation holds a discussion with Kenyan lawmakers in Nairobi, capital of Kenya, Aug. 26, 2009The visit and introduction of the Chinese delegation have helped Kenyan legislators know more about Tibet, and in a more comprehensive way, Shabeer said.     He hoped the two nations could continue to increase exchanges in areas such as education to further promote bilateral ties.

BEIJING, Sept. 1 (Xinhua) -- Chinese Premier Wen Jiabao said here Tuesday China would not change the orientation of its stimulating economic policy as the country is at a critical stage in the recovery of the economy. Wen said, when meeting with World Bank President Robert Zoellick, that China's government would continue to pursue proactive fiscal and moderately easy monetary policies.     "We will not change the orientation of our policy," Wen said.     Wen said China would fully implement and continue to enhance and perfect policy in response to the international financial crisis to achieve the goals of economic and social development. Chinese Premier Wen Jiabao (R) meets with World Bank President Robert Zoellick in Beijing on Sept. 1, 2009.    China's economy grew 7.1 percent in the first half of this year and 7.9 percent in the second quarter, reversing a declining trend in the previous seven quarters.     World Bank President Zoellick said earlier China's economic recovery might be better than expected.     In the first seven months of this year, China has seen a robust growth of domestic demand as consumption surged 15.2 percent year on year and investment 32.9 percent. The Ministry of Commerce predicts China's exports will slow their decline or even grow on a monthly basis.     "The macro-economic policy and measures that China adopted in response to the international financial crisis have been proved inconformity with reality, prompt, forceful and effective," Wen said.     Wen said the world economy was now showing signs of stabilizing, but an all-round recovery would be a slow, difficult and complicated process. It would require long-term, concerted efforts by every country in the world in strengthening dialogue, coordinating policy and deepening cooperation.     Wen said imbalances in the global economy were rooted in disparity in development. He urged the international community to pay special attention to difficulties faced by developing countries, especially the least developed ones. He said the gap should be lessened by increasing aid, writing off debts, opening markets and transferring technology.     Wen said China was ready to strengthen cooperation with the World Bank and make new contributions to achieving the UN Millennium Goals and sustainable development of the world.     This is the third time Zoellick has visited China since becoming World Bank President. Following his arrival Monday afternoon, Zoellick exchanged views on the major topics of his agenda in Beijing, the international financial crisis and climate change, with Chinese officials. Besides Beijing, Zoellick will visit Anhui province in east China.     Zoellick said the World Bank was willing to develop cooperation with China in areas such as international development aid, reform of international financial organizations and climate change.

LANZHOU, Sept. 21 (Xinhua) -- Chinese President Hu Jintao has written a congratulatory letter to mark the 100th anniversary of the founding of Lanzhou University in northwest China's Gansu Province.     The university has been sticking to its motto of making constant efforts to become stronger and fostering its own features, and has developed glorious patriotic and academic traditions, Hu said in the letter.     After the founding of New China and particularly the country's reform and opening up, Lanzhou University has shared the fate of the nation and kept pace with the times, and made important contribution to the economic and social development in the western regions, the president said.     He expected the university to contribute more to supporting the national program of developing the western regions, building an innovation-oriented country and a moderately prosperous society in all aspects, and stepping up the socialist modernization drive.     A grand gathering was held Saturday to commemorate the centenary of the university. State Councilor Liu Yandong read President Hu's congratulatory letter at the conference, noting that talented people and education are the foundation of building a strong and modern country.     She hoped that the university plays a better role in cultivating innovation-oriented talents, and bolstering advanced thinking and science and technological achievements.

BEIJING, July 31 (Xinhua) -- In an unexceptional courtyard on the street behind Jingshan Hill in central Beijing, two Chinese pines stand side by side.     This was the residence of Zhuo Lin, widow of China's late leader Deng Xiaoping. On Wednesday, she passed away, aged 93. Deng was also 93 when he died 12 years ago.     To complete the last trip with her beloved husband, Zhuo chose to have her ashes scattered at sea as her husband's were. File photo shows Zhuo Lin (R) poses with her husband Deng Xiaoping in the Taihang Mountains, after they married in Yan'an. Zhuo Lin, a former consultant of the Central Military Commission General Office and widow of China's late leader Deng Xiaoping, died of illness at 12:30 p.m. July 29 after medical treatment failed in Beijing, at the age of 93    TOGETHER THROUGH LIFE     Born in southwestern Yunnan Province, she joined the Communist Party of China in 1938 and was a former consultant of the Central Military Commission General Office.     She met Deng in the revolutionary shrine Yan'an in 1939 and had accompanied him throughout his extraordinary life, from the Anti-Japanese War from late 1930s to the 1940s to his dark days of repression in the "Cultural Revolution" from 1966 to 1976. File photo shows Zhuo Lin (2nd R) reads a story for her grandson while her husband Deng Xiaoping (L) reads newspaper at their home in Beijing, after Deng retired. Zhuo Lin, a former consultant of the Central Military Commission General Office and widow of China's late leader Deng Xiaoping, died of illness at 12:30 p.m. July 29 after medical treatment failed in Beijing, at the age of 93.Deng Xianqun, Deng's younger sister, recalled how Deng and Zhuo used to have a tacit understanding between each other.     "My big brother didn't love talking, but my sister-in-law was just the opposite," she said.     According to their children, Zhuo had taken care of all the details of Deng's life, including what to wear and how many sleeping pills he should take.     In 1966, when the political storms swept Deng from power as Chinese vice premier, Zhuo was bewildered, wondering what had happened exactly and what the future would hold.     But she chose to trust him and be with him.     "I've been with him for so long that I'm certain he's an upright man," she told their daughter, Deng Nan.     In 1969, Deng was exiled to eastern Jiangxi Province to work on farms.     Deng Lin, their eldest daughter, said Zhuo often spoke of the days in Jiangxi when they dug the land, pulled weeds and spread manure.     "Mother mostly did easy work, like cooking, as she was not very healthy," Deng Lin said.

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