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BEIJING, April 27 -- The yuan will remain stable against the U.S. dollar as China will take a cautious and stable position in its foreign exchange investment.     The Chinese currency gained against the US dollar in the past week and ended at 6.8273 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8311 by the end of the previous week.     China will continue its policy of diversifying its huge amount of foreign exchange reserves, the currency regulator said last Friday.     Hu Xiaolian, head of the State Administration of Foreign Exchange, told Xinhua news agency that it will stick to major currencies and high-quality assets in its foreign exchange investments.     China's overseas earnings hit 82.5 billion U.S. dollars in the past year, an 8-percent rise from a year earlier, according to data released by the administration last Friday.     Hu also noted the positive outlook of China's economy has lessened concerns over a depreciation in the yuan.

BEIJING, July 6 (Xinhua) -- Torrential rains and floods in southern and central China have left at least 21 people dead and two missing.     More than 700,000 people have been relocated as downpours have destroyed houses, flooded crops, cut power, damaged roads and caused rivers to overflow, according to the latest figures from the provinces of Hunan, Fujian, Jiangxi and Guangdong as well as the Guangxi Zhuang Autonomous Region.     In Guangxi, a child was killed and another five were injured Sunday in a landslide when they were playing in the house in Hengxian County, Nanning City, officials said Monday.     In Guangxi's Rongshui county, 62 schools were flooded, and about 300 students were trapped in a boarding school. Most of the students had been taken home by their parents as of Monday morning, while the school was preparing to send home the remaining 17, whose parents were mostly migrant workers.     In Guangxi 328,400 people were relocated because of the rainstorms, said the regional civil affairs department.     As of Monday night, more than 11,000 homes in Guangxi had been toppled and 158,780 hectares of crops were damaged. Direct economic losses from the rains stood at 1.7 billion yuan (250 million U.S. dollars), according to the department.     In the tourist city of Guilin, traffic on 38 highways had been cut off as the highways were damaged by rain.     In central China's Hunan Province, eight people died and 140,000 were forced out of their homes, according to the provincial flood control office.     In Fujian Province, five people died and two are missing.     In Jiangxi Province, three people who were previously reported as missing have been confirmed dead, bringing the province's death toll to five. About 230,000 people had to flee their homes.     The flood control headquarters in Jiangxi said Sunday night that crops on 200,000 hectares of farmland have been damaged and thousands of homes toppled. Direct economic losses were estimated at 3.13 billion yuan (458.9 million U.S. dollars).     In Guangdong Province, two construction workers were killed by a collapsed wall.     In Guizhou, 82 roads were broken by landslides triggered by rainstorms since the end of June, most of which reopened as of Monday. However, a provincial highway was still broken, officials said.     The government was repairing the road, but it was difficult because of the large number of landslides, said Guo Zhihuai, a Guizhou road bureau official.     China is among the countries most plagued by natural disasters, with 70 percent of its cities and 50 percent of its 1.3 billion people living in areas vulnerable to one or more kinds of natural disasters.     China has suffered major natural calamities, including torrential floods in the Yangtze River valley in 1998, severe droughts in Sichuan Province and Chongqing Municipality in 2006, winter storms in southern China early last year, and the massive May 12 earthquake last year.     The United Nations said natural disasters caused nearly 110 billion U.S. dollars of damage in China last year.

CHONGQING, June 6 (Xinhua) -- Rescuers set off a blast in the debris of a landslide Saturday in an effort to open up a shaft to reach the 27 trapped miners in southwest China's Chongqing Municipality.     Rescuers ignited explosives at 8:07 p.m. at a location calculated by experts to reach the shaft where the miners were believed to be buried.     More blasts are needed as about 1.5 million cubic meters of rock and dirt slumped 600 meters from a nearby mountain Friday afternoon, covering up the entrance to the mining pit.     Experts said ventilation, food and water could not be sent into the shaft and the air underground could only support the miners for about seven days.     Experts are still busy surveying and revising plans of future blasts.     So far, 72 people, including 21 local residents, the 27 trapped miners and 18 miners who worked on the ground, two telecom company workers and four passers-by, remained missing.     The accident happened at about 3 p.m. Friday at an iron ore mining area of Jiwei Mountain in Tiekuang Township, Wulong County, about 170 kilometers southeast of Chongqing's downtown.     Chinese vice-premier Zhang Dejiang inspected the site early Saturday morning, asking rescuers to try their best to save life while avoiding secondary disasters. Experts are called on to find out the causes of the landslide.

MOSCOW, May 10 (Xinhua) -- The construction of the China-Russia oil pipeline conforms with the strategic goals of China and Russia to diversify the former's energy imports and latter's energy exports, Chinese Ambassador to Russia Liu Guchang has said.     The move reflects the two countries' confidence and determination to tide over together the current global economic downturn, Liu said in a recent written interview with Xinhua on Sunday.     The signing of a package of oil cooperation deals between China and Russia as well as the start of the oil pipeline project marked a major breakthrough in their energy cooperation, represented a new height of China-Russia strategic partnership of cooperation and further substantiate this partnership, Liu said.     Trade of crude via the pipeline will help stabilize and enhance the growth in bilateral trade, the diplomat added.     Under the agreement reached between both countries, China and Russia will jointly build and operate the pipeline from Russia's Siberian city of Skovorodino to China's northeastern city of Daqing as its terminal via China's border city of Mohe.     The construction of the Russian part of the pipeline started on April 27, and the Chinese part will be launched in mid-May. The pipeline, with an annual capacity of 15 million tons of crude to China within 20 years, is expected to go into operation in October2010.     The two sides will study the feasibility of increasing its delivery capacity after the pipeline is put into production, Liu said. The project will ensure stable and secure oil supplies to China, open a stable and sound market for Russian oil, and boost the cooperation between enterprises of the two countries in oil exploration and refining, Liu said.     Such a cooperation mode may well serve as a good example for the two sides to further broaden and deepen their all-round, long-term and stable energy cooperation in natural gas, nuclear energy and electric power, Liu said

BEIJING, July 7 (Xinhua) -- Chinese banks have been active in transacting yuan cross-border settlement after the first deal was made Monday.     The Industrial and Commercial Bank of China (ICBC) said Tuesday it had dealt with yuan cross-border settlement totaling 17 million yuan (2.49 million U.S. dollars) in two days.     Many banks in Guangdong Province were active in dealing with yuan cross-border settlement. The Bank of China Guangdong branch transacted yuan cross-border settlement totaling 7.96 million yuan (1.17 million U.S. dollars) Tuesday.     "Guangdong Province has a large economic scale and is highly dependent on foreign trade. Yuan cross-border settlement could help enterprises avert exchange rate risks and reduce costs," said Cao Licong, deputy governor of the BOC Guangdong branch.     "The service is favored by enterprises and will be promising in the future," said Hu Ye, deputy governor of the ICBC Guangdong branch.     China launched its first yuan cross-border settlement Monday.     China's State Council, or Cabinet, announced in April a pilot program to allow exporters and importers in Shanghai, and southern Guangzhou, Shenzhen, Zhuhai and Dongguan cities to settle cross-border trade deals in Renminbi (RMB), or yuan.     China last week issued detailed regulations for the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using yuan to settle trade with Hong Kong and Macao and regional trade partners.