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BEIJING, May 3 -- Ma Weihua, president and chief executive officer of China Merchants Bank (CMB), said he wanted to see Chinese banks elevate their level of globalization in the context of expedited overseas expansion of Chinese companies during his bank's recent road show in the United States. He said CMB would pursue this process ambitiously but cautiously.The bank is soon to relocate its night-shift foreign exchange trading team to its New York branch, which was established in 2008, and will move on to security trading as well in the future, according to Ma during a group interview. The branch is also working on consolidating its dollar settlement business."What I'm concerned about right now is to first have my New York branch familiarized with the US market, customers and rules as soon as possible so I can expand the business steadily," Ma told the audience at a recent speech at New York University's Leonard N. Stern School of Business. "We won't consider faster expansion until we have secured our position here."Because of policy restrictions, CMB and other Chinese banks are only able to provide very limited services overseas for now. Retail banking, which CMB is best at, is still being constrained in its New York branch, its first branch in the West. But the bank is eyeing up other opportunities.The branch is attaching increasing importance to the loan business for Chinese companies during their overseas merger and acquisition activities. It just completed a big deal for a Chinese State-owned conglomerate but declined to reveal its name."The most fundamental motive to globalize our bank is to support Chinese companies' overseas growth and to provide the same quality service for foreign companies as well when they come to China," Ma said.According to Ma, over the past five years, Chinese companies' overseas direct investment saw an annual increase of 60 percent and their non-financial overseas investment grew by 68.5 percent year-on-year.In comparison, overseas assets only make up less than 4 percent of Chinese banks' total assets, while in large banks in Europe and the US, the proportion is about 40 percent, he said.

SHANGHAI, May 6 (Xinhua) -- More than 33 million Shanghai World Expo tickets have been sold, according to the latest statistics from the Bureau of Shanghai World Expo Coordination.A total of 33.11 million tickets, including 23.96 million individual tickets and 9.15 million group tickets, had been sold as of Thursday, the statistics showed.As of 5:30 p.m. Thursday, a total of 902,300 people had visited the Shanghai World Expo Park.On Thursday, 105,600 people visited the Expo as of 5:30 p.m. but this was a sharp drop compared with more than 200,000 people on May 1, the opening day.A spokesman from the Bureau of Shanghai World Expo Coordination said even though the Expo lasts for 184 days, ticket holders should consider coming earlier as that would mean avoiding the huge crowds expected before the end of the event.

YANGON, June 3 (Xinhua) -- Chinese Premier Wen Jiabao left Yangon for Beijing on Thursday after concluding a two-day visit to Myanmar, the last leg of his four-nation Asian tour.MEETING MYANMAR COUNTERPARTDuring talks with his Myanmar counterpart U Thein Sein in the capital city of Naypyitaw, Wen and Thein Sein agreed to further promote relations and cooperation between the two countries.Noting that this year marks the 60th anniversary of the establishment of China-Myanmar diplomatic ties, Wen told his host that he came to Myanmar with Chinese people's profound feelings of friendship for the Myanmar people and their strong aspiration for closer bilateral ties.Visiting Chinese Premier Wen Jiabao (Center L) attends a signing ceremony for 15 documents on cooperation in natural gas, hydropower and other fields, with his Myanmar counterpart U Thein Sein (Center R) in Naypyitaw, Myanmar, on June 3, 2010.During the past 60 years, China and Myanmar have both upheld and followed the Five Principles of Peaceful Coexistence, achieving far-reaching progress in bilateral ties and also creating an exemplar of cooperation between nations with different social institutions, said Wen, the first Chinese premier to visit Myanmar in 16 years.Wen added that China respects the path of development the Myanmar government and people have selected in line with their country's conditions, and appreciates the valuable support Myanmar has long offered on issues concerning China's core interests.Wen stressed that China is ready to join hands with Myanmar to deepen their friendship and expand cooperation, thus remain good neighbors, good friends and good partners for ever.With their land bordering each other and their economies mutually complementary, China and Myanmar have enjoyed a grand prospect of mutually beneficial cooperation, said Wen, while recalling that thanks to their joint efforts, the two countries not only effectively withstood the impact of the global financial crisis but also brought their bilateral trade volume to a new high.In the next phase, Wen said, both sides should make proper planning of key areas and projects for cooperation, speed up the interconnection of the two countries' infrastructure, and complete the agreed major cooperation projects in energy, transportation and other areas in a timely manner and with good quality.The Chinese premier emphasized that China is willing to continue providing assistance to the best of China's ability for Myanmar's economic and social development.For his part, Thein Sein said that Myanmar and China share common borders and the two peoples have long been friendly to each other.Since diplomatic relations were established 60 years ago, the two countries have respected each other, treated each other on an equal footing and in friendly terms on the basis of the Five Principles of Peaceful Coexistence, he said.He also noted that recent years have witnessed frequent exchanges of high-level visits and significant achievements in trade and other areas of bilateral cooperation.Myanmar appreciates the understanding and support from China and adheres to the one-China policy, the prime minister said.Thein Sein said that Myanmar highly appreciates China's development, places high values on its cooperation with China from a strategic perspective and promptly implements the key cooperation projects the two sides have agreed on.He added that Myanmar will avail itself of the opportunity of the 60th anniversary of bilateral diplomatic ties to join hands with China to promote their bilateral relations of good-neighborly cooperation to a new high.The two leaders also agreed to make concerted efforts to maintain peace and stability along the common borders between the two countries and turn the borders into a bridge for friendly cooperation between the two countries.Following their talks, the two leaders attended a signing ceremony for 15 documents on cooperation in natural gas, hydropower and other fields.

BEIJING, April 18 (Xinhua) -- China encourages foreign experts to help upgrade its technological innovation and the quality of economic growth, Chinese Vice Premier Zhang Dejiang said here Sunday."China welcomes foreign experts to offer suggestions on the country's industry development and technological innovation and to help Chinese enterprises solve technological difficulties," Zhang said when meeting a group of Chinese and U.S. engineering experts.More than 270 experts from both countries attended the Eighth Sino-American Technology and Engineering Conference on April 11-18, at which they conducted academic exchanges in fields of advanced manufacturing, information technology, biomedicine and environmental protection.Stressing that China was at a crucial stage of transforming the economic growth pattern, Zhang said China will continue to boost international cooperation and attract foreign expertise in science and technology.

CHIFENG, Inner Mongolia, April 10 (Xinhua) -- As a massive drought is plaguing most parts of southwest China, the dry spell is also spreading to many areas of the country's north.More than 250,000 people are short of drinking water in the sparsely populated Chifeng City of north China's Inner Mongolia Autonomous Region.More than 272,800 cattle also lack drinking water, an official with the municipal water conservancy bureau told Xinhua Saturday.The nine major reservoirs in the city of 90,000 square kiloters in territory just hold 91.75 million cubic meters of water, down 73.7 percent from the same time last year.Adding to the woe, 62 percent of the city's mid- and small-sized reservoirs have dried up, the official said.Major rivers also see a decrease of 77.4 percent in water volume.Even though Chifeng city has suffered from successive years of drought since 1999, this year's has been the gravest in the past decade, the official said.The government has mobilized more than 626,300 people in the drought relief work, with more than 30.33 million yuan (about 4.46 million U.S. dollars) of special-use fund, the official said.