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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.

BEIJING, July 16 (Xinhua) -- Chinese Vice President Xi Jinping attended Thursday the graduation ceremony of the Party School of the Communist Party of China (CPC) Central Committee and conferred certificates on graduates of the spring semester. Xi, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, is President of the school. Chinese Vice President Xi Jinping attends the graduation ceremony of the Party School of the Communist Party of China (CPC) Central Committee July 16, 2009. The ceremony marked the graduation of 744 Party officials from the Central Party School and more than 2,800 graduates from the school's branches    The ceremony marked the graduation of 744 Party officials from the Central Party School and more than 2,800 graduates from the school's branches. Chinese Vice President Xi Jinping confers certificates on graduates of the spring semester of the Party School of the Communist Party of China (CPC) Central Committee July 16, 2009.The Party School of the CPC Central Committee is the highest institution for training high- and middle-ranking party officials and Maxist theoreticians. The School's history dates back to the school of Marxism and Communism set up in March 1933.     The graduates said that during the study they had exchanged working experiences with each other and the education had strengthened their political belief.     Politburo member and director of the CPC Central Committee Organization Department Li Yuanchao and several other high-ranking party officials also attended the graduation ceremony.

PRAGUE, May 20 (Xinhua) -- Chinese Premier Wen Jiabao called for closer relations between China and the Czech Republic at meetings with Czech leaders on Wednesday.     The Chinese government attaches great importance to its relationship with the Czech Republic and would like to push the ties to a new stage, Wen said in talks with Czech President Vaclav Klaus. Chinese Premier Wen Jiabao (L) meets with Czech President Vaclav Klaus in Prague, capital of Czech Republic, May 20, 2009Wen said the Czech Republic, together with other Central and Eastern European countries, is among the earliest nations that established diplomatic relations with China, and their bilateral relations have enjoyed a sound foundation.     This year marks the 60th anniversary of the establishment of diplomatic relations between China and the Czech Republic.     Wen said that in the past 60 years, friendship and cooperation have always been the main tone of bilateral ties despite profound changes in both countries and in the world at large.     He said that in recent years, China and the Czech Republic have maintained high-level contacts, with bilateral economic and trade cooperation deepened and social and cultural exchanges expanded.     Wen said China attaches great importance to its relations with the Czech Republic and is willing to take the 60th anniversary as an opportunity to enhance mutual political trust, expand trade and mutual investment, strengthen cooperation in science and environmental protection, promote non-governmental exchanges, and better coordinate in international affairs. Chinese Premier Wen Jiabao (2nd R) poses together with European Commission President Jose Manuel Barroso (1st R), Czech President Vaclav Klaus (2nd L), whose country holds the rotating EU presidency, and EU foreign policy chief Javier Solana at the 11th China-EU Summit in Prague, Czech Republic, May 20, 2009Klaus, who has visited China three times, said he was very impressed every time he visited China. The Czech Republic considers China an important partner and is willing to strengthen cooperation and exchanges with China in various fields, Klaus said.     He expressed hopes that more Czech companies would invest in China.     Wen met Klaus after attending the 11th China-EU summit held here earlier Wednesday. The Czech Republic holds the rotating EU presidency.     Wen praised the efforts made by Klaus for the success of the summit and spoke highly of his contribution to bilateral relations. Chinese Premier Wen Jiabao (L, front) meets with Czech Prime Minister Jan Fischer (R, front) in Prague, capital of Czech Republic, May 20, 2009Also on Wednesday, the Chinese premier met Czech Prime Minister Jan Fisher.     Wen said it is particularly important for China and the Czech Republic to work together amid the global financial crisis.     The Chinese government is willing to expand trade with the Czech Republic and increase mutual investment and take concrete actions to promote trade balance, said the premier.     China welcomes the efforts by Czech enterprises to further explore the Chinese market, Wen said, adding that the two sides can also try to jointly explore third-party markets.     Both sides should create a sound environment for investment and cooperation between enterprises, Wen said.     Fisher said the Czech Republic considers the 60th anniversary as a new milestone and would enhance political dialogue with China and reinforce cooperation in such sectors as trade, investment, tourism and culture.     He also called for joint efforts with China to tackle the international financial crisis and push bilateral ties to a new high. Chinese Premier Wen Jiabao (L) shakes hands with European Commission President Jose Manuel Barroso (R) as Czech President Vaclav Klaus, whose country holds the rotating EU presidency, looks on at the 11th China-EU Summit in Prague, Czech Republic, May 20, 2009

BEIJING, July 14 (Xinhua) -- China's armed forces are raising the qualification and training levels of non-commissioned officers (NCOs) to build a professional corps with the ability to operate increasingly sophisticated weapon systems.     A reform plan unveiled by the Central Military Commission (CMC), China's top military authority, outlines the reforms which will affect the People's Liberation Army (PLA) and People's Armed Police Force (PAPF) by the end of this year.     The number of non-commissioned officers (NCO) in the PLA and PAPF would rise to almost 900,000 while the total number of personnel would remain unchanged, Yang Yangshen, an officer with the PLA's Headquarters of the General Staff, told Xinhua on Tuesday.     He said the rise would be small, but would not give the current number of NCOs.     New NCO posts would be offered to increase the strength of increasingly technology-intensive forces.     The NCOs would be given more responsibility for equipment that needed better proficiency and information skills in addition to assisting commissioned officers with basic training.     According to the plan, the PLA and PAPF would recruit more graduates with three-year college diplomas, who could better understand the operation of modern military weapons systems, rather than promote enlisted personnel.     The PLA and PAPF enlisted personnel are mainly high school graduates who finished 12 years of education.     The modernization of the PLA's weapon systems called for better qualified non-commissioned officers, said Yang.     Currently, the NCOs of the PLA and PAPF are ranked in six categories, starting from the lowest NCO level 1 up to NCO level 6.     According to the plan, the new ranks, from lowest to highest, will be corporal, sergeant, sergeant first class, master sergeant class four, master sergeant class three, master sergeant class two and master sergeant class one.     The reform also introduces a training system by which the new NCOs need to acquire technical qualifications, such as weapons repair and equipment maintenance.     All NCOs who want to be promoted will need to pass upgraded training courses and exams, according to the reform plan.     The plan mandates that the maximum service time for junior grade NCOs (corporal, sergeant) is six years and intermediate grade (sergeant first class, master sergeant class four) is eight years. The senior grade NCOs (master sergeant class three, master sergeant class two, master sergeant class one) could serve for more than 14 years.     It would also increase the basic salaries for intermediate grade NCOs and subsidies for all NCOs.     The PLA and PAPF introduced volunteer recruitment in 1978, which was the original model of the NCO system established in 1998when the revised conscription law reduced the compulsory service period of the enlisted soldiers from three to two years.

BEIJING, May 15 (Xinhua) -- China has called for the EU to recognize its market economy status soon, said Yao Jian, spokesman for China's Ministry of Commerce (MOC) here Friday.     China's Commerce Minister Chen Deming will attend the 11th China-EU Summit in Prague in the Czech Republic next week, Yao said.     The summit will address China's desire to be recognized as full market economy by the EU soon, the limitation on high-tech exports to China from the EU and bilateral economic cooperation, Yao said.     China need not be recognized by any country in terms of market economy as a concept, but market economy status is a technicality that will help China receive fair treatment in anti-dumping investigations, Yao said.