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GUANGZHOU, June 16 (Xinhua) -- South China's Guangdong Province was facing the threat of serious flooding as two swollen rivers converged in the Pearl River Delta on Monday, resulting in a flood equivalent to a worst in 50 years.     The runoff in Xijiang River was 46,800 cubic meters per second and in Beijiang River 15,200 cubic meters per second before they met each other in Foshan City, according to the Guangdong provincial headquarters of flood control and drought relief, which said this was far higher than normal.     The danger of serious flooding is made worse by the pull from the moon, which is rising to its most powerful point in the month on Wednesday, posing a threat for river embankments across the delta, experts said.     More rains were forecast in the upstream areas of Xijiang and Beijiang Rivers in next two days. Local people row boats in flooded Daoshui Town of Wuzhou City, southwest China's Guangxi Zhuang Autonomous Region, June 16, 2008. As of Monday evening, flood has affected 92 counties, cities and regions in Guangxi. Some 7.54 million people were plagued by the flood with direct economic loss standing at about 4.6 billion RMB yuan (660 million U.S. dollars).     The Guangdong provincial flood control headquarters on Monday ordered local governments to reinforce river embankments in nine cities, including Guangzhou and to prepare to evacuate people in danger. Two buffaloes swim in the Pearl River in Sanshui City, south China's Guangdong Province, June 16, 2008. The first flood peak of the Pearl River passed the Makou hydrometric station in Sanshui on Monday. The water level at the station reached 8.26 meters, 0.76 meters higher than the alert levelThe Pearl River Delta is a major manufacturing base of the country, while Guangdong posted a gross domestic product (GDP) of more than 2.59 trillion yuan (375 billion U.S. dollars) in 2006, ranking the first on the Chinese mainland.     Recent rainstorms and floods have affected 5.76 million people in 17 cities in Guangdong, including 20 deaths and eight missing persons.     Continuous downpours had cut seven national highways and 68 provincial ones in Guangdong, causing an economic loss of 600 million yuan. Seven provincial highways remained paralyzed on Monday while the others have been repaired.     At least 57 people have been killed and 1.27 million people relocated as rainstorms and floods ravaged nine provinces and region in south China and affected 17.87 million people, authorities said on Sunday. Photo taken on June 16, 2008 shows the cracks on the side slope of State Highway No. 321 in Congjiang County, southwest China's Guizhou Province. Immediate survey and preliminary proposal were carried out by the highway administration bureau of Kaili City and local government as soon as cracks were discovered on the side slope after recent heavy rainfallGuangxi Zhuang Autonomous Region bordering Guangdong on Monday also ordered two cities along the Xijiang River to reinforce embankments as heavy rains continued.     More than 70,000 people were relocated on Monday in Guangxi, bringing the total number of relocated people to 916,000. More than 7.5 million people have been affected as of 6 p.m. Monday, the regional civil affairs department said.     Storms hit 12 towns in southern parts of Guizhou Province on Sunday and Monday, leaving more than 400 houses inundated and crops damaged.     Hunan Province to the north of Guangdong on Monday claimed victory in fighting the first flood in the province this year with the flood crest passing the provincial capital of Changsha safely, despite two monitoring stations recorded highest water level in the history.     One people died and another was missing in Hunan's flood, which also toppled down houses and cut off roads.

BEIJING, May 19 (Xinhua) -- Millions of people in China and overseas observed three minutes of silence at 2:28 p.m. on Monday as they mourned the many killed in a deadly earthquake in Sichuan Province a week ago.     President Hu Jintao, top legislator Wu Bangguo, Premier Wen Jiabao, and other top leaders including Jia Qinglin, Li Changchun, Xi Jinping, He Guoqiang and Zhou Yongkang also stood in silence in the central government compound of Zhongnanhai in Beijing.     The leaders, dressed in dark suits and wearing white paper flowers on their chests, bowed their heads in solemn silence below a national flag flying at half staff. Former President Jiang Zemin also stood in silence, separately. Senior Chinese leaders including Hu Jintao, Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, He Guoqiang and Zhou Yongkang mourn during a silent tribute to the dead in the earthquake hitting southwest China's Sichuan Province, in Beijing, capital of China, May 19, 2008The remembrance was part of a highly unusual three-day national period of mourning for those who died in the 8.0-magnitude earthquake.     The quake is known to have killed at least 32,000 people, but officials have said that the final toll could exceed 50,000.     Across the country, sirens and horns wailed; people fell silent. China Central Television darkened its screen. In the headquarters of the Beijing Organizing Committee for the Olympic Games, more than 200 employees gathered in front of their office building, facing southwest, towards Sichuan, in a silent tribute.     In Tian'anmen square, thousands of people shouted "Go, Go, China!" "Brave and strong, China!" and "Brave and Strong, Wenchuan!” "Hang on, Sichuan!"     Wenchuan County was the epicenter of quake on May 12.     Financial markets suspended trading for three minutes. Some traders said people had asked about buying stocks of Sichuan-based companies to show support.     PRAYERS FOR SALVATION     Across the country, people honored the quake dead in various ways; some flew black kites and some held chrysanthemums. Children stood holding lit white candles, and villagers in China's remote northwest burnt incense sticks and paper money to see off the dead.     In front of the Potala Palace in Lhasa, capital of Tibet, residents mourned in the rain, and Lamaists prostrated themselves while saying prayers for the deceased.     "I saw the calamity of the earthquake in TV, and I pray for the people who died and hope those living are strong and hold on," said Ama Cering, a ethnic Tibetan woman.     Senior Chinese leaders including Hu Jintao, Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, He Guoqiang and Zhou Yongkang mourn during a silent tribute to the dead in the earthquake hitting southwest China's Sichuan Province, in Beijing, capital of China, May 19, 2008. Former President Jiang Zemin also stood in silence, separately, while Li Keqiang, another senior Chinese leader, observed the period of silence in Beichuan County of Sichuan on May 19.    MOMENT OF SILENCE IN BATTERED SICHUAN     In battered Sichuan, green-uniformed soldiers and rescuers in orange suits paused briefly for the mourning, joined by rescue forces from Japan, Russia, the Republic of Korea and Singapore.     "When the siren sounded, I felt a sudden shudder. I feel deeply sorry for those dead brothers," said Pu Taihua, a rescuer in Beichuan, tears mixing with sweat on his face.     Although rescuers are being challenged by the rugged terrain and aftershocks in Sichuan, more than 100,000 soldiers and rescuers are still battling to search for buried survivors.     The quake victims, who are clinging to hope that their relatives have somehow survived, also took time to join the mourning.     In Beichuan County, one of the worst-hit areas in Sichuan, surviving students, wearing white T-shirts, stood with their heads deeply bowed. Some of them had been orphaned by the earthquake.     In Anxian County, also hit hard, more than 1,800 homeless residents gathered on open ground for the remembrance. Peng Hao, a boy who lost his father, wrapped himself in his dad's blanket and wailed plaintively with his mother.     In the Tianpeng Middle School in Pengzhou City, Sichuan, thousands of people gathered on the playground. An eerie silence was broken by cries from the crowd after a baby, Dong Chengyuan, began to wail in the arms of his grandmother.     The baby, whose grandfather died in the quake, wore a black armband that read "mourning" in Chinese.     Baby Dong's mother, Chen Jiao, said the family had cried all their tears. "When I found my dad, he was crushed by two beams, one on his neck and another on his feet. His body was almost disfigured," said Chen.     After the memorial, residents wandered around the playground, reluctant to leave.     WOUNDS WILL HEAL     From herdsmen and hearing-impaired children to elderly survivors of the deadly 1976 Tangshan earthquake, from bus drivers in Beijing to barter traders along the China-Russia border in Manzhouli, grieving Chinese are rallying against the disaster.     "My best friend died in the earthquake, but wounds will heal, homes will be rebuilt and everything will be all right," said Zhang Xiaomei, a student in the Yinghua Middle School in Deyang City.     On Monday, a downtown square in Chengdu was crammed with thousands of people who shouted "Go, Sichuan!" "Go China!" amid tears.     "The people in Sichuan are not alone. The whole China of is supporting them," said Ma Guoxi, a student in Ningxia University.     Mark Hancock, an Australian teacher in Qinghai, joined hundreds of Chinese mourners in a downtown square in Xining, capital of Qinghai Province.     "It's been a terrible catastrophe for China, for the Chinese people," he said, struggling to hold back tears. "It's a time for China to demonstrate its enormous strength to overcome the tragedy, and people all over the world are with them and supporting them," he added.     "The earthquake took away people's lives, but it will not frighten the brave Chinese people into retreat. We will get over the hardships and a stronger China will have a better future," said He Bin, a police officer of the Anhui Provincial Public Security Department. President Hu Jintao, standing atop the rubble amid aftershocks on Sunday, said through loudspeakers to the soldiers in the quake-hit Shifang City: "I truly believe that the heroic Chinese people will not yield to any difficulty!"

BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday.     Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent.     "Currently the impact on domestic financial institutions is still limited," he said.     The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars).     The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year.     However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars.     "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report.     Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner."     Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis.     China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18.     The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001.     Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market.     However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence.     Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt.     From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics.     In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation.     Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation.     Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas.     Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.

BEIJING, Aug. 18 (Xinhua) -- Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC), met on Monday with some foreign leaders here to watch the Beijing Olympic Games.     In his meeting with Ranko Krivokapic, the Republic of Montenegro parliament speaker, Wu said China advocated all nations, big or small, rich or poor, as equal members of the international community. Wu Bangguo (1st R), chairman of the Standing Committee of the National People's Congress (NPC), meets with Ranko Krivokapic (1st L), the Republic of Montenegro parliament speaker, in Beijing, China, Aug. 18, 2008. Ranko Krivokapic is here to watch the Beijing Olympic GamesChina valued its ties with Montenegro and would develop a long-term, stable and all-round relationship, as well as sound legislative cooperation with the Balkan country, he said.     Krivokapic said the Montenegro parliament would enhance its cooperation with the NPC and adhere to the one-China policy. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress (NPC), meets with Abdelaziz Ziari, speaker of the Algerian parliament, in Beijing, China, Aug. 18, 2008. Abdelaziz Ziari is here to watch the Beijing Olympic Games. When meeting with Abdelaziz (Abdul-Aziz) Ziari, speaker of the Algerian parliament, Wu said the Olympics was going on smoothly, and China would honor its commitment to hold an unique and high-standard Games with distinctive features.     He pledged to take the opportunity of the 50th anniversary of China-Algeria ties in the coming year to push forward the cooperation of mutual benefit.     Ziari said the well-organized Olympic Games impressed him and demonstrated what China had achieved in its reform and opening-up drive. The Algerian parliament would further exchanges with the NPC. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress (NPC), meets with Kono Yohei, speaker of the House of Representatives of Japan's Diet, in Beijing, China, Aug. 18, 2008. Kono Yohei is here to watch the Beijing Olympic Games.When meeting with Kono Yohei, speaker of the House of Representatives of Japan's Diet, Wu said Sino-Japanese relations were at a new start in history and had great potential for further development.     He recalled the Japanese trip by Chinese leader Hu Jintao in May which outlined the future development of the bilateral ties.     He said the NPC would promote cooperation with the Japanese house of representatives through the regular exchange mechanism to push forward the strategic and reciprocal relations between the two countries.     Wu expressed gratitude for Japan's support to the Beijing Games.     Kono said the Japanese house would play a positive role in upgrading the relationship between the two countries.

GUANGZHOU, July 20 (Xinhua) -- Chinese Premier Wen Jiabao has said unswerving confidence and arduous work are needed to achieve the goals of a steady and relatively fast economic development and control of soaring consumer prices in the country.     Wen visited Guangdong Province - the country's reform and opening-up forerunner, on Saturday and Sunday, for research on current domestic economic situation. Chinese Premier Wen Jiabao (2nd L) looks at a specimen of a shoe during his visit in a company in Dongguan, south China’s Guangdong Province, July 19, 2008. Wen Jiabao paid an inspection tour to Guangdong on Saturday to investigate and research the province's economic situation.The premier visited steel, shoes, digital machinery and high-tech enterprises in Guangzhou, Dongguan and Shenzhen to know their production, sales and products development.     More efforts should be made in the research and development and improvement of technological levels to create home-made brands and increase competitiveness, he said.     Just as with the whole nation, Guangdong has a good social and economic situation, but also faces many new difficulties and problems, Wen said. Some exports-oriented small and medium-sized enterprises in the Pearl River Delta area have felt the increasing impact of the world's economic growth slowdown and shrinking foreign demands, he noted.     The fundamental way to deal with the challenges is to deepen reform and opening up and promote development in a scientific way, said the premier.     During the visit, Wen talked with staff and managers of enterprises and urged them to attach importance to innovation.     The key to the development of a country, a nationality and an enterprise is innovation, Wen said. Only continuous innovations can enable the Chinese nation stand up in the world and enterprises become leaders of their industries, he said.     Guangdong has made great achievements in economic and social development in the past 30 years, realized a historic jump and contributed a lot to the country's reform and opening up and modernization construction, Wen said. The province should continue to take the lead in the country's reform and opening up, he added.