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BEIJING, July 5 (Xinhua) -- The Bank of China (BOC), China's largest foreign exchange bank, will transact the first cross-border yuan trade settlement deal Monday, a source with the bank said Sunday night.     The BOC Shanghai branch would receive the first cross-border yuan trade settlement deal from the BOC (Hong Kong) Monday, the unidentified source said.     The payee would be Shanghai Electric International Economic and Trading Co., Ltd. under Shanghai Electric Group Co., Ltd. and the remitter would be the company's business partner in Hong Kong.     China last week issued detailed measures to regulate the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using Renminbi (RMB) to settle trade with Hong Kong and Macao and regional trade partners.     "The service has drawn much attention and many overseas enterprises had been asking us about it months ago. Why? Because cross-border yuan trade settlement could help enterprises avoid exchange rates risks, lock up financial costs and reckon enterprise anticipated profits," the source said.     "In comparison to convertible currency settlement, it could streamline links and reduce trade cost. It could help enterprises without foreign exchange revenues cut losses from converting foreign exchanges. It could reduce derivative fees in selecting RMB financial products," said the source.     The BOC Shanghai branch has reached tentative agreements with 11 overseas agent banks on yuan trade settlement deals. Now the agent banks in tentative agreements with the BOC mostly are large banks in Asia and they anticipate remarkable demand on yuan settlement, according to the sources.     "We are in talks with banks in the United States and Europe and get very positive feedbacks. Despite some obstacles in cross-border yuan settlement, the trend is good," the source said.

CHONGQING, June 7 (Xinhua) -- Rescuers on Sunday recovered seven bodies from the debris of Friday's landslide site in southwest China, as the search continued to find the 65 people still missing.     The seven bodies, including five men and two women, were yet to be identified, according to the rescue headquarters.     A brief farewell ceremony was held for the deceased.     Rescuers carried out a second explosion at 11 a.m. Sunday to enable the drilling of holes to send food and air to 27 trapped miners who could still be alive after the massive landslide in Chongqing Municipality. Local militia and firemen stand on the alert prior to the second blasting in Wulong County of southwest China's Chongqing, June 7, 2009. The second blasting was carried out at around 1:00 p.m. Sunday to enable the drilling of a hole 40 meters deep to send food and air to 27 trapped miners who could still be alive after Friday's massive landslide.Three drilling machines were working and staff were setting up a fourth, said Ai Yang, spokesman for the Chongqing municipal government.     More than 400 experts, technicians and rescuers had joined the search and rescue operation at the headquarters, said Ai.     Eighty-five people whose homes were threatened by a barrier lake formed by the landslide would be relocated, said Ai. Those in the affected area downstream of the lake had already been evacuated.     The two entrances of the Jiwei Mountain mine were both buried under rocks when the landslide happened at around 3 p.m. Friday. It also buried an iron ore plant and 12 houses in Tiekuang Township, Wulong County, about 170 kilometers southeast of central Chongqing.     Eight people -- three of them seriously injured -- were rescued late Friday. But 21 residents, the 27 trapped miners and 18 miners who worked above ground, two telecommunications company workers and four passers-by, went missing.     With sniffer dogs and life detectors, hundreds of rescuers found no signs of life on the debris on Saturday, said a spokesman with the rescue headquarters.     The 27 miners are about 150 to 200 meters below ground. The air and a small amount of water in the mine could support them for five to seven days. Water is believed to exist in the shafts as Jiwei Mountain mainly comprised limestone, said the spokesman.     Early Sunday, rescuers completed a 28-km road to the site for large machinery such as excavators and bulldozers. Previously, there was only a simple village road.     "We will do our best and use every second to rescue them," said the spokesman, but the mountain was still quite unstable and the rescue operation was dangerous.     On the basis of aerial photos, experts estimated the volume of the landslide debris at about 12 million cubic meters, said Ai Yang.     "Under such circumstances, every step forward in rescue will need unimaginable caution, manpower and material resources," he said.     "The rock debris just covered the entrance, but there are water channels in the shaft. I believe my husband is still alive," said Chen Yuanmei, a woman at the site.     Chen said she was tending her garden in Hongbao Village, when she saw the rocks slide down, throwing up black dust clouds. The dust lingered around 10 minutes and covered her yard, which is 2 km from the mountain.     She felt something bad had happened and immediately called the mine authorities, but failed to reach them.     The Chongqing Land, Resources and Housing Administration has issued an emergency circular urging districts and counties to organize professional teams to launch a thorough inspection of geological disaster-prone areas.     Chinese Vice Premier Zhang Dejiang inspected the site early Saturday, asking rescuers to try their best while avoiding secondary disasters. Experts have been asked to investigate the cause of the landslide.     The Ministry of Civil Affairs has earmarked 6 million yuan (870,000 U.S. dollars) to the county for relief work.     The money would be mainly used as benefits for the victims' families and relocation of residents, said Ai.     A large helicopter would also join the rescue work to help carry in equipment and personnel early on Monday, he said. 

XI'AN, June 7 (Xinhua) -- Chinese Premier Wen Jiabao has urged the country's college students to find grassroots jobs in less developed regions as the economic downturn increases pressures in employment market.     Visiting Xi'an, capital of central Shaanxi Province, from Friday to Sunday, Wen said employment was one of the government's priorities for the sake of the country's economy and for the future of individuals.     "College students, laid-off workers and migrant workers waiting for jobs are my biggest concern," Wen told job hunters at an employment center.     He encouraged graduates from universities and colleges to find work in grassroots regions, and called on employers to create more jobs.     Since the second half of last year, the government has implemented a series of policies to create jobs. The State Council, or Cabinet, also decided to give living allowances to graduates who went to the central and western regions for internships.     Everyone should have a resolute belief that they should try their best no matter what their job was, Wen told students at Xi'an Jiaotong University. Chinese Premier Wen Jiabao (Central Left, front), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks with farmers in Fengdian Village, Doumen Town of Xi'an, capital of northwest China's Shaanxi Province, June 6, 2009. Wen paid a visit to Xi'an from June 5 to 7During a visit to a village in the city's outskirts, he said the government would promise the country's farmers higher incomes by raising the average procurement price of wheat by 0.1 yuan per 500g.     When the market price went up, sell the products to the market, when it went down, sell them to the government, Wen told farmers.     Wen also went to a main production base of BYD Company Ltd., a Hong Kong-listed indigenous auto maker specializing in electric-powered technologies.     Wen got into a new hybrid vehicle using gas and electricity and encouraged the company to achieve more independent technological breakthroughs.     He said the government's policy of development of western regions had proved successful over the past 10 years.     Governments at all levels should continue the policy and formulate more support measures to improve living standards for people in western regions, Wen said.

GUANGZHOU, May 30 (Xinhua) -- South China's Guangdong Province reported one suspected A/H1N1 flu case late Saturday.     The case involved a 23-year-old Chinese Venezuelan. The female college student left Venezuela Tuesday and flied to Guangzhou, Guangdong's capital, Wednesday via Paris, and her relative drove her home in Foshan City, the provincial health department said.     She took a rest at home after showing flu symptoms Thursday and was sent to Foshan No.1 People's Hospital Friday.     Early Saturday, the woman was tested positive for A/H1N1 flu by the Foshan Center of Disease Control and Prevention. The Provincial Center of Disease Control and Prevention reexamined Saturday noon and the result was also positive. The case needs further testing.     China Saturday reported three new influenza A/H1N1 cases, bringing to 24 the total number of confirmed cases on the Chinese mainland.     The one in the southeastern province of Fujian involved a local who studied in Canada. The other two in Beijing involved a Chinese American and a Chinese student who studied in the United States.     All the cases but one on the mainland were found shortly after they came from countries hard hit by the A/H1N1 flu epidemic. Seven were in Beijing, four in Shanghai, six in Guangdong, three in Fujian, and one each in Sichuan, Shandong, Zhejiang and Hunan.     Eight cases have been discharged from hospital by Saturday afternoon, according to the Ministry of Health (MOH).     China raised vigilance against influenza A/H1N1 Friday after a patient in southern Guangdong Province was declared the first case of local transmission on the mainland. Medical experts are investigating into and analyzing the local transmission.     The patient, a 24-year-old woman living in Guangdong's capital city of Guangzhou, was believed to be infected by a man from New York on Monday. Guangdong provincial department of health confirmed both as A/H1N1 flu cases Friday noon.     Her flu symptoms have eased, Yin Zhibiao, deputy president of the Guangzhou No. 8 People's Hospital, said Saturday. But as the mainland's first case of local transmission, she would likely stay longer in hospital, Yin added.

SHANGHAI, July 12 (Xinhua) -- China Eastern Airlines on late Sunday announced that it will merge Shanghai Airlines through a shares swap and the two will resume stock trading in Shanghai Monday.     Shanghai Airlines will exchange one of its A shares for 1.3 shares of China Eastern after the former's shareholders are given a 25 percent risk premium, the latter said in a statement filed to the Shanghai Stock Exchange.     Shanghai Airlines Chairman Zhou Chi said on June 30 that the transfer of shares will take about four to five months.     Liu Jiangbo, spokesman of the working team overseeing tie-up affairs, said Shanghai Airlines will become a wholly-owned subsidiary of China Eastern and retain its brand and independent operation.     Liu told Xinhua that the merger has entered a concrete stage after the announcement of the detailed merger plan.     This is a major step to promote the consolidation of regional airlines and to facilitate building Shanghai into an international air and shipping hub, he said.     The merger will give China Eastern, one of China's three state-owned airlines, about 50 percent market share in Shanghai.     China Eastern reported a net loss of 13.9 billion yuan in 2008 because of weak travel demand in the economic downturn and wrong-way bets on fuel prices.     China Eastern and Shanghai Airlines shares have been suspended from trading since June 8 while waiting for the merger talks. China Eastern last closed at 5.33 yuan and Shanghai Airlines closed at 5.92 yuan.     China Eastern is listed in Hong Kong and Shanghai and Shanghai Airlines is listed in Shanghai.