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SINGAPORE, June 29 (Xinhua) -- China's Yellow River Conservancy Commission (YRCC) received the Lee Kuan Yew Water Prize for its outstanding accomplishments in integrated river basin management on Tuesday evening.The Lee Kuan Yew Water Prize is the highlight of the Singapore International Water Week, which is held here from June 28 to July 2. With its success in transforming China's second-longest river, the YRCC outshone 49 other nominees to become the third recipient of the Lee Kuan Yew Water Prize.Accepting the award on behalf of the YRCC, Li Guoying, Commissioner of the YRCC said, "The YRCC is deeply honored to receive the Lee Kuan Yew Water Prize for our efforts in revitalizing the Yellow River. We recognize that more can be done to enhance the ecosystem along a river that plays a vital role in China's economic development and holds an important position in the hearts of its people. This endorsement reaffirms our long-term commitment to nurturing and improving the quality of life along the river through sustainable river management strategies."The YRCC was empowered by the Chinese central government in 1999 to manage and integrate water allocation in the entire Yellow River. YRCC's innovative policies and solutions have brought about widespread and sustainable social, economic and environmental benefits. In just 10 years, the remarkable transformation of China 's second longest river by YRCC has secured water supply for over 100 million people, restored extensive areas of wetlands and biodiversity and protected some 90 million people living in the flood-prone areas of the Yellow River from devastating floods.

BEIJING, July 15 (Xinhua) -- At least 135 people had been confirmed dead and 41 are missing, as some of the worst flooding in years continues in south China.By 4 p.m. Thursday, close to 35.5 million people in 10 southern provinces and Chongqing Municipality had been affected by continuous rainstorms and floods since July 1, the Civil Affairs Ministry said in a notice on its website.About 113,000 homes were destroyed and more than 1.2 million people had been relocated, it said.Direct economic losses were estimated at about 26 billion yuan (3.8 billion U.S. dollars), up from Wednesday's 22.2 billion yuan.In Jiangxi Province alone, at least eight people have died since July 8, and direct economic losses have amounted to more than 2.9 billion yuan.The ministry had dispatched work groups to Jiangxi to direct relief work.The Office of State Flood Control and Drought Relief Headquarters announced earlier Thursday that floods had killed 594 people in 26 provinces since the beginning of the year. Another 212 people were missing.Direct economic losses cause by the floods totaled 120.2 billion yuan, the office said, adding that 97.5 million people and 6.16 million hectares of farmland were affected.In Hubei Province, continuous downpours and rain-triggered floods since July 3 have left 32 people dead and two missing.Heavy rainfall has raised water levels in many rivers in the middle and lower reaches of Yangtze River, China's longest, and a new round of rainstorm is expected to pelt the river course soon, bringing possibility of serious floods.The river's Three Gorges Dam raised the speed of water discharge Thursday afternoon to save space for the upcoming gushing flooding waters.

BEIJING, June 23 (Xinhua) -- Chinese banks should set up an independent risk management system in line with its strategic expansion plan as part of efforts to ward off financial risks, China's banking regulator said Wednesday.The breakout of the global financial crisis highlighted the necessity of increasing management of differentiated sovereign risks, the China Banking Regulatory Commission said in a guideline published on its website.Just as Chinese banks were expanding throughout the world, the overseas risks they were facing were on the rise, the guideline noted.Sovereign risks refer to ones that banks are exposed to when overseas borrowers or debtors are unable to repay debt because of their countries' economic, political and social changes.Chinese lenders were required to differentiate risks according to the countries involved and make policies on the minimum potential loan loss provisions ranging from 0.5 percent to 50 percent, according to the guideline.The banks must meet the requirements under the guideline by June 1, 2011.

GENEVA, July 20 (Xinhua) -- Top Chinese legislator Wu Bangguo held separate talks here Tuesday with parliamentary leaders from South Africa, the Democratic People's Republic of Korea (DPRK) and Kazakhstan and the chief of the World Health Organization (WHO).During talks with Hon Max Vuyisile Sisulu, speaker of South Africa's National Assembly, Wu, chairman of the Standing Committee of the National People's Congress (NPC) of China, said that the peoples of China and South Africa share a deep, traditional friendship.Wu said the two countries have seen their ties develop in a rapid and all-round way since the establishment of diplomatic relations.The two nations have carried out frequent high-level exchanges, with their mutual political trust gradually building up, Wu said.Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress (NPC), meets with Max Sisulu, speaker of the National Assembly of South Africa, in Geneva, Switzerland, July 20, 2010.Wu added that the two countries have also shared understanding and support on issues concerning each other's core interests and maintained close coordination and cooperation on significant international affairs.Noting that economic and trade cooperation continues to expand and that people-to-people exchanges are also gaining momentum, Wu stressed that all those efforts have brought visible and practical benefits to the two countries and their people.China attaches great importance to promoting its relationship with South Africa, and at a time when the international situation is undergoing deep and complex changes, relations between the two big developing countries have transcended the bilateral category and gained increasing global and strategic significance, Wu said.Expressing hope that the two sides can join hands in enhancing their strategic partnership, Wu emphasized that the NPC is ready to consolidate friendly cooperation with South Africa's National Assembly and deepen their coordination and cooperation in international and regional parliamentary organizations.The two legislatures should also work together with their counterparts in other developing countries to call for more attention on development and express their resolve to realize the UN Millennium Development Goals (MDGs), Wu said.For his part, Sisulu said that China is an very important nation on the international stage and an important cooperation partner of South Africa.South Africa's government, parliament and political parties are committed to promoting ties with China, and are hoping for more friendly exchanges and cooperation with China in more areas, he stressed.Sisulu said that a closer relationship with China will benefit South Africa's economic development and enable his country to better cooperate with China in handling global challenges and defending the interests of developing countries.

BELGRADE, July 14 (Xinhua) -- Top Chinese legislator Wu Bangguo on Wednesday met with Serbian President Boris Tadic, vowing to add new impetus to the traditional friendship between China and Serbia."I am here to help realize the consensus between the two heads of states, pushing forward our strategic partnership and traditional friendship," said Wu, chairman of the Standing Committee of the National People's Congress (NPC), who arrived here on Wednesday afternoon for a three-day visit.Wu is the first NPC Standing Committee chairman to visit Serbia over the past decade. China and Serbia have kept long-time friendship, and shared mutual support and respect. Last August President Tadic visited China and reached agreement with Chinese President Hu Jintao on establishing the strategic partnership, which opened a new page for the relationship.Wu Bangguo (L), chairman of the Standing Committee of China'a National People's Congress(NPC), shakes hands with Serbian President Boris Tadic, in Belgrade, capital of Serbia, July 14, 2010.Wu said Sino-Serbian relations are time-tested and have endured many changes in the international situation. He attributed this to the mutual support between the two countries on issues concerning the core interests of one another."This precious legacy should be cherished by both peoples, and will serve as a fundamental guarantee of the further development of Sino-Serbian ties," Wu said.