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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, June 29 (Xinhua) -- Chinese State Councilor Liu Yandong met here Monday with Henry Kissinger, the former U.S. secretary of state. Liu highlighted the robust growth of the China-U.S. ties since the two forged diplomatic relations 30 years ago, noting that the bilateral relations scored a good beginning and maintains positive momentum since the Obama administration took office. China is committed to work with the United States to further promote the bilateral dialogue and cooperation at various levels and in national development, education, science and technology and culture, Liu said. Chinese State Councilor Liu Yandong (R) meets with Henry Kissinger, former U.S. secretary of state, in Beijing, June 29, 2009. Echoing on Liu's views, Kissinger defined relations between the United States and China as one of the most important bilateral relations in the world, saying that the two nations play vital roles in promoting world prosperity and safeguarding the international peace and stability. Kissinger was here at the invitation of the Chinese People's Institute of Foreign Affairs.
UNITED NATIONS, May 15 (Xinhua) -- China voiced its willingness to further strengthen cooperation with the United Nations on Friday and support the world body to play a bigger role in addressing the global issues. Chinese Vice Foreign Minister He Yafei made the statement while meeting with UN Secretary-General Ban Ki-moon at the United Nations Headquarters in New York. UN Secretary-General Ban Ki- moon (R) shakes hands with Chinese Vice Foreign Minister He Yafei during their meeting at the UN headquarters in New York, the U.S., May 15, 2009. He also spoke highly of the efforts by the secretary-general to promote all the works of the United Nations. China backs the efforts to promote the reform of the UN Security Council in order to further improve the UN's ability to deal with all kinds of global threats and challenges in order to enable the United Nations to carry out its obligations under the UN Charter more effectively, He said. Comprehensive and patient consultations should be made on the reform of the United Nations, and an extensive consensus on the issue should be reached on the basis of taking the interests and concerns of all parties concerned into consideration, he said. Against a backdrop of the international financial crisis, the United Nations should increase its attention to and investment into the field of development and try its best to mitigate the negative impact of such a crisis on the development countries, He said. Meanwhile, Ban said that he appreciates China's important role in maintaining the peace and promoting common development in the world. The world today is facing all kinds of complicated and grave challenges, such as the financial crisis and the climate change, these challenges should be jointly tackled by all countries, Ban said. The United Nations hopes to see China's bigger role in the world in the future, the secretary-general said.
VIENNA, June 17 (Xinhua) -- The Head of the Chinese delegation and Permanent Representative of China to the United Nations Office in Vienna, Tang Guoqiang, stressed on Wednesday on behalf of the Chinese government that the nuclear issues of Korea and Iran should be solved in a peaceful way through diplomatic talks. In a speech at the board meeting of the International Atomic Energy Agency (IAEA) on Wednesday, Tang pointed out with regard to the Korean nuclear issue that the Chinese government "firmly opposes" another nuclear test by the Democratic People's Republic of Korea (DPRK), and requires the DPRK to "stick to the denuclearization commitments, stop relevant actions that may further deteriorate the situation, and return to the six-party talks." However, Tang also pointed out that "the sovereignty, territorial integrity, reasonable security concerns and development benefits of the DPRK, a sovereign state, and a member state of the U.N., should receive due respect. The DPRK should have the right to peaceful use of nuclear energy after it returns to the treaty on Non-Proliferation of Nuclear Weapons (NPT)." He also stressed that political and diplomatic means is the"only right way"to solve the relevant issues on the Korean Peninsular including the nuclear issue. Therefore, he called on relevant parties to "focus on long-term benefits and maintain calm and restraint so as to avoid any action that could lead to further tension." A peaceful solution to the Korean nuclear issue "accords with the common benefit of all the parties,"Tang said. He pointed out when discussing the Iranian nuclear issue that there is currently new opportunity to promote a solution through negotiations, so relevant parties should "seize the opportunity and step up diplomatic efforts, so as to resume talks as soon as possible and seek a comprehensive and long-term solution to the Iranian nuclear issue." Iran, as a party to the NPT, enjoys the right to the peaceful use of nuclear energy, but should also fulfill corresponding international obligations he said. China is concerned that Iran has not suspended uranium enrichment as requested by the U.N. Security Council and hopes Iran will take measures to "comprehensively fulfill the relevant resolutions of the IAEA and the Security Council," Tang said. He also stressed that China adheres to "the international nuclear non-proliferation system, and the Korean and Iranian nuclear issues must be solved through negotiations. China will "work with all the parties" and make further efforts to solve relevant issues by diplomatic means "based on the overall situation of maintaining the nuclear non-proliferation system as well as regional peace and stability," Tang said.
ZHENGZHOU, June 20 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged economic restructuring to tap the growth potential as the nation copes with the impact of the global downturn. Li made the call during a four-day tour ending Saturday in central China's Henan Province. He said that with the concerted efforts nationwide, China's economy was turning for the better. He nevertheless warned of difficulties ahead citing the complicated world economy and called for confidence and more coping efforts. Visiting local companies, Li urged the remolding and upgrading of traditional industries and the development of new sectors including new energy, environmental protection, new and high-tech and modern services. Li's trip also highlighted the importance of agriculture and encouraged renovation and the development of modern agriculture. Chinese Vice Premier Li Keqiang (R), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks to local residents of Mazhuang village, Qiaobei town, Yuanyang county, central China's Henan Province, June 19, 2009. Li Keqiang made a four-day tour in Henan Province that ended Saturday.