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BEIJING, April 19 (Xinhua) -- He Guoqiang, a senior anti-corruption official of China, has called for strengthened supervision of relief fund and materials in northwest China's quake zone, vowing harsh punishments for dereliction of duty and embezzlement."We should learn from experiences after the Wenchuan earthquake (on May 12, 2008) and strengthen the supervision of quake relief work in Yushu," he said Monday at a meeting on supervising the relief fund and materials after a 7.1-magnitude quake hit Yushu in Qinghai Province on Wednesday.He, head of the Central Commission for Discipline Inspection of the Communist Party of China, urged local Party and government organizations in the disaster-hit areas to fully supervise every aspect and stage of the relief work to uncover any behavior violating laws and disciplines.He vowed harsh punishment for anyone caught committing offenses, especially dereliction of duty and embezzlement of public funds.He also called for transparent and fair use of all funds and materials, and promised timely publication of the latest relief information.The 7.1-magnitude quake has claimed 1,944 lives, injured 12,135 and left 216 people missing in Yushu Tibetan Autonomous Prefecture.

HONG KONG, April 16 (Xinhua) -- A volunteer from Hong Kong who lost his life on Wednesday when rescuing others in the earthquake- hit Qinghai province of China, has been recommended for a gold medal for bravery at home, local authority said on Friday.Wong Fu-wing, a 46-year-old volunteer, escaped from the earthquake on Wednesday morning but returned to rescue the trapped orphans and teachers in the orphanage where he worked in Yushu county of Qinghai province. He was critically injured by falling debris in a powerful aftershock.Tsang Tak-sing, Secretary for Home Affairs Bureau of Hong Kong Special Administrative Region (HKSAR) government, said on Friday that Wong has been recommended for the Medal for Bravery of Hong Kong.The Medal for Bravery (Gold), created in 1997, is the first rank in the Order of the Medal for Bravery, awarded for acts of gallantry of the greatest possible heroism or of the most conspicuous courage in circumstances of extreme danger.Chief Secretary Hengry Tang Ying-yen said Thursday that Wong's selfless sacrifice deserved the highest respect and expressed condolences to his family.Wong's family members departed from Hong Kong to the disaster zone of Qinghai province on Thursday to collect his remains. An officer from Hong Kong's Beijing Office was heading to Qinghai on Friday to meet Wong's family and assist local authorities. The Immigration Department of Hong Kong has offered help to the deceased's family members in Hong Kong.The death toll climbed to 1,144 and another 417 people remained missing as of 5 p.m. Friday, after a devastating earthquake shook a Tibetan area in northwest China's Qinghai Province.The 7.1-magnitude earthquake, which shook the Yushu County in the Tibetan Autonomous Prefecture of Yushu at 7:49 a.m. Wednesday, has left 11,744 people injured, including 1,192 serious cases.

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.

GENEVA, May 31 (Xinhua) -- China will continue its economic opening-up policy and it stands ready to join hands with other countries to overcome the global economic difficulties, a senior Chinese official said here on Monday."We firmly believe that opening-up will generate unlimited vitality for trade as well as dynamism for economic growth. Under no circumstances will China change its opening-up policy," said Yi Xiaozhun, China's vice minister of commerce.Addressing a WTO session reviewing China's trade policies in the past two years, Yi said his country was still going through a period of rapid industrialization and urbanization, a process that "will unleash enormous demand for investment and consumption.""It is predicted that China's total imports will exceed 7 trillion U.S. dollars in the next five years," Yi told delegates from the world trade body's 153 members.According to the official, many uncertainties still exist in the global economy, with major developed countries still in slow recovery and the international money and bond markets haunted by potential crisis.In the meanwhile, China, which suffered severe impacts by both natural disasters and the global economic crisis, still faces a big challenge in creating jobs at home."China still has 150 million people living in poverty. We have to create jobs not only for 30 million unemployed people registered in cities, but also over 20 million people newly added to the working population every year," Yi said."Nevertheless, China is ready to join hands with other countries to overcome the difficulties," he added.The official reiterated that "China firmly supports multilateralism and always regards the multilateral trading system as the cornerstone of its trade policy."He also called for a successful conclusion of the long-stalled Doha Round trade negotiations, as it "is of great significance to realize rebound of the global economy and resist trade protectionism.""China stands ready to make joint efforts with other members to conclude the Doha Round with an outcome that is comprehensive and balanced, delivering its development mandate," he said.