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BEIJING, May 23 (Xinhua) -- China unveiled Saturday credit rating standards for the sovereignty entity of a central government, the first sovereign credit rating standards in China, aiming broader participation in global credit rating.     The standards were announced by Dagong Global Credit Rating Co., Ltd, one of the first domestic rating agencies in China.     The sovereign credit rating standards would be able to evaluate the willingness and ability of a central government to repay its commercial financial debts as stipulated in contracts, said the company.     The rating results could reflect the relative possibility of a central government to default as a debtor, and the rating is based on the country's overall credit value, according to Dagong.     Elements of credit risks will include the country's political environment, economic power, fiscal status, foreign debt and liquidity, said the company, adding that it judges the credit of a sovereign entity on the basis of a comprehensive evaluation of its fiscal strength and foreign reserves.     Compared with other rating agencies, Dagong pays more attention to the different economic stage of each country, and examines the features of its credit risks in a holistic and systematic view, according to Dagong.     Jiang Yong, director of the Center for Economic Security Studies under the China Institutes of Contemporary International Relations, said the financial crisis exposed a risk of the international society relying solely on the credit rating institutions of a single country, which is the largest risk of the world economy.     Luo Ping, head of the training center under China Banking Regulatory Commission, said the launch of the sovereign credit rating standards would help improve the transparency of credit rating information, and would strengthen China's position in the international financial arena.

XI'AN, June 7 (Xinhua) -- Chinese Premier Wen Jiabao has urged the country's college students to find grassroots jobs in less developed regions as the economic downturn increases pressures in employment market.     Visiting Xi'an, capital of central Shaanxi Province, from Friday to Sunday, Wen said employment was one of the government's priorities for the sake of the country's economy and for the future of individuals.     "College students, laid-off workers and migrant workers waiting for jobs are my biggest concern," Wen told job hunters at an employment center.     He encouraged graduates from universities and colleges to find work in grassroots regions, and called on employers to create more jobs.     Since the second half of last year, the government has implemented a series of policies to create jobs. The State Council, or Cabinet, also decided to give living allowances to graduates who went to the central and western regions for internships.     Everyone should have a resolute belief that they should try their best no matter what their job was, Wen told students at Xi'an Jiaotong University. Chinese Premier Wen Jiabao (Central Left, front), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks with farmers in Fengdian Village, Doumen Town of Xi'an, capital of northwest China's Shaanxi Province, June 6, 2009. Wen paid a visit to Xi'an from June 5 to 7During a visit to a village in the city's outskirts, he said the government would promise the country's farmers higher incomes by raising the average procurement price of wheat by 0.1 yuan per 500g.     When the market price went up, sell the products to the market, when it went down, sell them to the government, Wen told farmers.     Wen also went to a main production base of BYD Company Ltd., a Hong Kong-listed indigenous auto maker specializing in electric-powered technologies.     Wen got into a new hybrid vehicle using gas and electricity and encouraged the company to achieve more independent technological breakthroughs.     He said the government's policy of development of western regions had proved successful over the past 10 years.     Governments at all levels should continue the policy and formulate more support measures to improve living standards for people in western regions, Wen said.

ASHGABAT, June 23 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said here late Tuesday that China and Turkmenistan have enjoyed healthy and steady development in bilateral relations since the two countries established diplomatic ties in 1992.     Li made the remarks in a written speech at the Ashgabat airport after arriving in the Central Asian country for a three-day official visit. Chinese Vice Premier Li Keqiang (L) is greeted by Turkmenistan's Deputy Prime Minister Tachberdy Tagiyev upon his arrival at the airport of Ashgabat, Turkmenistan, June 23, 2009.The friendship and cooperation between China and Turkmenistan had witnessed healthy and steady development in the past 17 years, adding that bilateral cooperation in different areas had been increasingly enhanced and yielded meaningful results, he said.     Li noted that China and Turkmenistan have supported each other on critical issues, worked closely in multi-lateral areas and made positive contributions to regional peace, stability and common development. Chinese Vice Premier Li Keqiang (R) is greeted upon his arrival at the airport of Ashgabat, Turkmenistan, June 23, 2009. Turkmenistan is the first leg of Li's three-nation tour that will also take him to Finland and Uzbekistan.     During his stay in Turkmenistan, Li will hold talks with Turkmenistan's President Gurbanguly Berdymukhamedov, which will focus on bilateral relations and cooperation in economy, energy and other areas between the two countries. Chinese Vice Premier Li Keqiang (L) is greeted by Turkmenistan's Deputy Prime Minister Tachberdy Tagiyev (R) upon his arrival at the airport of Ashgabat, Turkmenistan, June 23, 2009.

BEIJING, May 22 (Xinhua) -- Chinese President Hu Jintao urged Friday to build a powerful air force to meet the demands of the People's Liberation Army (PLA) for missions in the 21th century.     Hu, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), made the remark when meeting delegates of the 11th CPC Congress of the PLA Air Force in Beijing.     Hu asked the Air Force's officers to constantly improve the ability to win local wars as well as accomplish diversified military tasks. Chinese President Hu Jintao delivers a speech as he meets with the delegates to the 11th Congress of the Communist Party of China of the Chinese Liberation Army Air Force, in Beijing, capital of China, May 22, 2009. He urged the acceleration of modernizing the air force which is an important component of the country's armed forces.     The president said the Air Force has done outstanding jobs in accomplishing various tasks given by the Party and the people, and made great contribution to national security and development.     Hu also stressed that the Air Force should enhance the message of loyalty to the Party among all officers and soldiers as an essential part of their military training.     The PLA Air Force was founded in 1949.

SHANGHAI, June 3 (Xinhua) -- Standard Chartered Bank (China) Limited announced Wednesday that it plans to issue 3.5 billion yuan (512 million U.S.dollars) financial bonds in China, the first foreign bank to issue Renminbi bonds in the Chinese mainland.     The announcement was made in the wake of a circular released by the State Council in April on building Shanghai into an international financial center and shipping hub.     The municipal government of Shanghai convened a working meeting late last month on preparation for the financial center goal, promising to support foreign banks to issue yuan-denominated bonds.     "As China's financial market continues to liberalize, Standard Chartered is seeing a number of opportunities for our business," said Peter Sands, Group Chief Executive of Standard Chartered Bank, during his visit to Beijing this week.     The issuance is expected to help elevate the Renminbi's status as an international reserve currency, develop local capital markets, and contribute towards Shanghai's development as a global financial center, said Sands.     Standard Chartered Group reported 26 percent income growth in 2008, or 13.97 billion U.S. dollars despite the difficult global economic environment.     In China, the bank has grown by an average annual compounded growth rate of 80 percent over the past four years.     Standard Chartered Bank is China's oldest foreign bank enjoying150 years of history. It is among the first batch of locally-incorporated foreign banks and has one of the largest foreign bank networks operating in China.