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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.

XI'AN, July 17 (Xinhua) - German Chancellor Angela Merkel continued Saturday her visit in Xi'an, capital of China' s northwestern Shaanxi Province.During the visit, Merkel and Chinese Premier Wen Jiabao held talks with heads of prestigious German and Chinese firms, and visited China-German joint venture Siemens Signaling Company Ltd.Merkel also held a meeting with the acting Governor of the Shaanxi Province Zhao Zhengyong.Zhao said the Sino-German cooperation taking place in Shaanxi had enjoyed great achievements during recent years, as there had been about 60 Sino-German joint ventures operating in the province.Merkel said more and more German businessman were looking forward to getting involved in China's "West Development" campaign, and she believed the bilateral cooperation will be pushed forward in the future.The acting governor gave Merkel a horse sculpture as a birthday gift, for Merkel's 56th birthday falls on this Saturday.Merkel was born in the year of the horse, according to the Chinese traditional calendar.During her stay in Xi'an, Angela Merkel also visited a cultural theme park, and the renowned Terra-cotta Warriors and Horses in the mausoleum of Qinshihuang, the first emperor of an united China.Merkel will leave Xi'an on Sunday Morning and wrap up her four-day official visit to China.

BEIJING, July 26 (Xinhua) -- The All-China Federation of Trade Unions (ACFTU) said Monday it would work to help 1 million job-seekers find jobs this year, as well as provide vocational training for an additional 1 million people.Also, the ACFTU will provide training and job opportunities for 200,000 housekeeping workers this year, said Li Shouzhen, spokesperson with the ACFTU, at a meeting of the national union's executive committee.The ACFTU has launched a five-year campaign of vocational training to help improve the skills of workers, Li said.The ACFTU has been working to protect migrant workers' rights and recovered 2.5 billion yuan (366.03 million U.S. dollars) of defaulted salaries for migrant workers in the first half of the year, Li said.The national union, founded on May 1, 1925, had a membership of 169.94 million, with migrant workers accounting for 24.1 percent of the total, in 2007.ACFTU chairman Wang Zhaoguo said at the meeting that trade unions at various levels should work to protect employee rights to ensure stability.The meeting stressed the importance of the collective wage negotiation system and seeks to implement its use in wage discussions between businesses with trade unions by 2012.

CANBERRA, June 17 (Xinhua) -- Prime Minister Michael Somare on Thursday met with Liu Jieyi, vice minister of the International Department of the Communist Party of China (CPC) Central Committee.Liu, who was leading a CPC friendship delegation, said the relationship between China and Papua New Guinea exemplifies China's friendly cooperation with Pacific nations.China appreciates Papua New Guinea's adherence to the one-China policy, and would like to make joint efforts with the country to deepen their exchanges and cooperation in all fields, Liu said.He said China also would like to fully unleash the potential of economic and trade cooperation, and push for sound and stable development of bilateral ties between the two countries.The CPC would like to strengthen communications with Papua New Guinea's ruling National Alliance in order to learn from each other and enhance political mutual trust, Liu said.Somare said his country regards China as an important development partner, and he is satisfied with development of their bilateral ties.

YICHUN, Aug. 26 (Xinhua) -- Two days after the deadliest commercial plane crash in China in nearly six years killed 42 people in a remote northeastern city, doubts and speculations continue to swirl and no progress has been reported in the government investigation.A brief press conference was held Thursday afternoon -- the first in more than 40 hours after a Brazil-made ERJ-190 turbine jet run by Henan Airlines crashed at Lindu Airport of Yichun, Heilongjiang Province.But officials and an airline executive who addressed the conference did not say what caused the accident or whether their data analysis of the two black boxes found on Wednesday had achieved any results."The black boxes have been sent to Beijing and our specialists are still working on the data," said Lu Xue'er, an official in charge of aviation safety at the General Administration of Civil Aviation (CAAC).A representative from Henan Airlines offered an apology and condolences to the victims and their families."We're grieved over the tragedy," said Liu Hang, Chairman of the Supervisory Board the airline. "Our condolences for the dead and apologies to all the victims, their families and the whole society."He said his company had opened 24-hour hotlines at its headquarters in Zhengzhou, central Henan Province, Harbin and Yichun to help victims' f

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