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BRUSSELS, April 22 (Xinhua) -- The number of civilian deaths in Afghanistan went down by 39 percent in the first three months of 2009 compared to the same period a year before, NATO said on Wednesday. NATO spokesman James Appathurai said 81 percent of the civilian deaths were caused by the Talilban-led insurgents and 19 percent by international troops in the first three months of 2009. He did not give the overall number of civilian deaths in this period. A total of 1,240 civilians were killed in 2008 in Afghanistan and the Taliban and other militant groups were responsible for 80 percent of them, according to NATO counts. But the UN mission in Afghanistan said more than 2,100 civilians were killed last year. "It is important to note that despite the increase in (the numbers of) international forces, efforts to reduce the numbers of civilian casualties are having an effect," said Appathurai. He said NATO and the Afghan security forces will establish about three dozen joint coordination centers throughout the country by mid-summer to coordinate military support and security support for the presidential and provincial elections in August. Four battalions of extra troops will be deployed by mid-summer to help secure the elections. The extra troops will stay long enough in case a presidential run-off is needed in early October, he said.
BEIJING, June 29 (Xinhua) -- China raised gasoline and diesel prices by 600 yuan (about 87.8 U.S. dollars) per tonne, starting zero o'clock Tuesday. The increase raised the price for gasoline by about 0.45 yuan per liter, or 8.6 percent, and the price of diesel by about 0.51 yuan per liter, or 9.6 percent, said the National Development and Reform Commission (NDRC) in a statement on its Web site. It was the third oil price adjustment this year. On May 31, the NDRC raised the pump prices of gasoline and diesel by 400 yuan per tonne, or 7 percent and 8 percent, respectively. The adjustment was in response to "recent international oil price fluctuation" under the country's new fuel pricing mechanism, as international crude prices kept rising, said the statement. According to the new mechanism, China's domestic prices are to be "indirectly linked" to global crude prices "in a controlled manner." Under the pricing mechanism, China would consider changing benchmark retail prices of oil products when the international crude price rises or falls by a daily average of 4 percent over 22working days in a row. Oil prices settled at 69.16 dollars a barrel on the New York Mercantile Exchange Friday, registering a 4.2 percent rise from the price of 66.31 dollars a barrel when the last adjustment took place on May 31.
BEIJING, June 16 (Xinhua) -- For the first time in more than one year, China reduced its holding of U.S. Treasury bonds, and experts told Xinhua Tuesday that move reflected concern over the safety of U.S.-dollar-linked assets. Data from the U.S. Treasury showed China pared its stake in Treasury bonds by 4.4 billion U.S. dollars, to 763.5 billion U.S. dollars, as of the end of April compared with March. Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University, told Xinhua that the move might reflect activity by China's institutional investors. "It was a rather small amount compared with the holdings of more than 700 billion U.S. dollars." "It is unclear whether the reduction will continue because the amount is so small. But the cut signals caution of governments or institutions toward U.S. Treasury bonds," Zhang Bin, researcher with the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, a government think tank, told Xinhua. He added that the weakening U.S. dollar posed a threat to the holdings of U.S. Treasury bonds. The U.S. government began to increase currency supply through purchases of Treasury bonds and other bonds in March, which raised concern among investors about the creditworthiness of U.S. Treasury bonds. The move also dented investor confidence in the U.S. dollar and dollar-linked assets. China, the biggest holder of U.S. Treasury bonds, is highly exposed. In March, Premier Wen Jiabao called on the United States "to guarantee the safety of China's assets." China is not the only nation that trimmed holdings of U.S. Treasury bonds in April: Japan, Russian and Brazil did likewise, to reduce their reliance on the U.S. dollar. However, Tan said that U.S. Treasury bonds were still a good investment choice. Hu Xiaolian, head of the State Administration of Foreign Exchange, said in March that U.S. Treasury bonds played a very important role in China's investment of its foreign exchange reserves. China would continue to buy the bonds while keeping an eye on fluctuations. Zhang said it would take months to see if China would lower its stake. Even so, any reduction would not be large, or international financial markets would be shaken, he said. Wang Yuanlong, researcher with the Bank of China, said the root of the problem was the years of trade surpluses, which created the huge amount of foreign exchange reserves in China. It left China's assets tethered to the U.S. dollar, he said. He said making the Renminbi a global currency would cut China's demand for the U.S. dollar and reduce its proportion in the trade surplus.
HONG KONG, July 4 (Xinhua) -- The Bank of China (Hong Kong) Limited (BOCHK), the sole Renminbi (RMB) clearing bank in Hong Kong, announced here Saturday that it will launch RMB clearing services for trade settlement starting from Monday. BOCHK said it had singed a clearing agreement with the People's Bank of China in relation to RMB business, and will invite banks and other financial institutions participating in trade settlement to sign a new clearing and settlement agreement. On Wednesday, the People's Bank of China and other departments on the mainland jointly announced the "Administrative Rules on Pilot Program of Renminbi Settlement of Cross-Border Trade Transactions", allowing RMB settlement of cross-border trade transactions for the first time. "The initiation of the Pilot Program is of particular significance. It will increase the source channels and the usage of RMB funds," said He Guangbei, vice chairman and chief executive of BOCHK. Under the Pilot Program, enterprises will also have greater flexibility in selecting the settlement currency of cross-border trade transactions as well as increasing their capability to hedge exchange risk, minimize costs, and boost the efficiency and profitability of cross-border trade transactions, he said. BOCHK, as a participating bank of RMB business, will take the lead in launching a wide spectrum of RMB trade settlement and finance services for its corporate customers to conduct RMB- denominated trade transactions such as remittances, collections and L/C services between Hong Kong and Shanghai, Shenzhen, Guangzhou, Dongguan and Zhuhai, said the vice chairman.
EDINBURGH, May 9 (Xinhua) -- Chinese Vice Premier Wang Qishan said Friday during a visit to Scotland that China hopes to strengthen cooperation with Scotland, especially in the areas of education, culture, tourism and finance. Wang, who is on an official visit to Britain, spoke during a meeting with Alex Salmond, Scotland's first minister. Both sides praised the friendship between China and Scotland and expressed a readiness to strengthen their cooperation as part of an effort to promote the all-round strategic partnership between China and Britain. During the meeting, the two also exchanged views on how to tackle the global financial crisis. "Currently we should further strengthen confidence in the market and recover the functions of the financial market as soon as possible," Wang said. After the outbreak of the Asian financial crisis, China adopted a series of measures that pulled it through the trouble and helped to maintain the stability of the financial market, Wang said. Salmond spoke highly of the economic stimulus packages arranged by the Chinese government to tackle the current financial crisis. Wang arrived at Edinburgh on Friday after a visit to the Europe Union