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SHANGHAI, June 3 (Xinhua) -- Standard Chartered Bank (China) Limited announced Wednesday that it plans to issue 3.5 billion yuan (512 million U.S.dollars) financial bonds in China, the first foreign bank to issue Renminbi bonds in the Chinese mainland. The announcement was made in the wake of a circular released by the State Council in April on building Shanghai into an international financial center and shipping hub. The municipal government of Shanghai convened a working meeting late last month on preparation for the financial center goal, promising to support foreign banks to issue yuan-denominated bonds. "As China's financial market continues to liberalize, Standard Chartered is seeing a number of opportunities for our business," said Peter Sands, Group Chief Executive of Standard Chartered Bank, during his visit to Beijing this week. The issuance is expected to help elevate the Renminbi's status as an international reserve currency, develop local capital markets, and contribute towards Shanghai's development as a global financial center, said Sands. Standard Chartered Group reported 26 percent income growth in 2008, or 13.97 billion U.S. dollars despite the difficult global economic environment. In China, the bank has grown by an average annual compounded growth rate of 80 percent over the past four years. Standard Chartered Bank is China's oldest foreign bank enjoying150 years of history. It is among the first batch of locally-incorporated foreign banks and has one of the largest foreign bank networks operating in China.
BEIJING, April 22 (Xinhua) -- China and Pakistan Wednesday praised the ties between their parliaments and both agreed to raise inter-parliamentary cooperation to a higher level. In his meeting with visiting Speaker of Pakistan's National Assembly Fahmida Mirza, Chinese top legislator Wu Bangguo noted that China always conducted its ties with Pakistan taking a strategic, long-term perspective and was committed to pushing forward bilateral relations. Wu, chairman of the Standing Committee of the National People's Congress (NPC), the top legislature, highlighted the growth of bilateral relations and expressed appreciation for Pakistan's support for China on issues relating to Taiwan and Tibet. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Speaker of Pakistan's National Assembly Fahmida Mirza, in Beijing, capital of China, April 22, 2009 China will firmly back Pakistan's efforts for national stability and development, Wu added. Wu said the NPC and Pakistan's National Assembly had forged friendly legislative ties. "I hope to see the two parliaments continue to cement cooperation at various levels and through various channels in a bid to expand mutual understanding and friendship between the two peoples," Wu said. Mirza said relations with China were always at the top of the agenda in Pakistan's foreign policies. Pakistan hoped to expand cooperation with China in fields such as transportation, energy and free trade, Mirza said. She also urged both countries to develop exchanges among female members of their legislatures. She also reiterated firm support for China's principle and position on issues relating to Taiwan and Tibet. Mirza's visit to China from April 21 to 27, her first, was made at the invitation of Wu. She will also visit the western city of Xi'an and the economic powerhouse of Shanghai.

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.
BEIJING, April 24 (Xinhua) -- Senior Chinese official Jia Qinglin called on Friday Chinese anti-independence organizations to continue their unique role and make new contributions to the promotion of national peaceful reunification. Jia made the comments in a meeting attended by representatives of overseas Chinese anti-independence organizations here. Jia, head of the China Council for the Promotion of Peaceful National Reunification, said that anti-independence organizations had played an important role in creating favorable conditions for the peaceful development of relations between the two sides of the Taiwan Straits. Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference and director of the China Council for the Promotion of Peaceful National Reunification (CCPPR), meets with directors of CCPPR's overseas branches in Beijing, capital of China, April 24, 2009 Jia, who is also chairman of the National Committee of the Chinese People's Political Consultative Conference, noted that last year, anti-independence organizations actively promoted exchanges and communications between the Chinese mainland and Taiwan and had firmly opposed separatist activities supporting "Taiwan independence" and "Tibet independence." They had also united overseas Chinese and compatriots from Hong Kong and Macao and especially those from Taiwan, he said. In promoting the peaceful development of cross-Straits relations, the global alliance of anti-independence organizations shouldered important responsibilities and would continue to play their unique and important role, according to Jia, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee. He urged anti-independence organizations to oppose separatist activities in any form. He warned anti-independence groups to be vigilant against and firmly oppose separatist attempts by the ** Lama and his followers, and asked anti-independence organizations to boycott the infiltration of "Tibet-independence" forces. He also extended a message to those who had proposed "Taiwan independence" or had participated in or followed "Taiwan independence" forces, saying they were most welcome to return to the track of promoting the peaceful development of cross-Straits relations.
BEIJING, June 27 (Xinhua) -- China always opposes trade protectionism and will not take protectionist actions against overseas companies or foreign goods, Minister of Commerce Chen Deming said here Friday. He made the remarks when he met the Minister of Knowledge Economy of the Republic of Korea (ROK), Lee Youn Ho. Chen said that media reports were incorrect when they equated China's latest circular to boost domestic demand and step up supervision on construction projects with protectionism. Chen said in China's government procurement, the term "domestic products" also include products produced by legally established foreign-funded companies in China. "China applied to join the World Trade Organization's agreement on government procurement a couple of years ago, which allowed member countries to bid on each other's government tenders." Chen said. "We hope China might join the agreement soon so as to further open up the government procurement market," he said. "China would like to maintain stable development in economic and trade cooperation with the ROK," Chen said. Lee said that China's trade policies were fair and transparent, and his country would like to work with China to oppose trade protectionism.
来源:资阳报