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BEIJING, July 5 (Xinhua) -- The Bank of China (BOC), China's largest foreign exchange bank, will transact the first cross-border yuan trade settlement deal Monday, a source with the bank said Sunday night.     The BOC Shanghai branch would receive the first cross-border yuan trade settlement deal from the BOC (Hong Kong) Monday, the unidentified source said.     The payee would be Shanghai Electric International Economic and Trading Co., Ltd. under Shanghai Electric Group Co., Ltd. and the remitter would be the company's business partner in Hong Kong.     China last week issued detailed measures to regulate the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using Renminbi (RMB) to settle trade with Hong Kong and Macao and regional trade partners.     "The service has drawn much attention and many overseas enterprises had been asking us about it months ago. Why? Because cross-border yuan trade settlement could help enterprises avoid exchange rates risks, lock up financial costs and reckon enterprise anticipated profits," the source said.     "In comparison to convertible currency settlement, it could streamline links and reduce trade cost. It could help enterprises without foreign exchange revenues cut losses from converting foreign exchanges. It could reduce derivative fees in selecting RMB financial products," said the source.     The BOC Shanghai branch has reached tentative agreements with 11 overseas agent banks on yuan trade settlement deals. Now the agent banks in tentative agreements with the BOC mostly are large banks in Asia and they anticipate remarkable demand on yuan settlement, according to the sources.     "We are in talks with banks in the United States and Europe and get very positive feedbacks. Despite some obstacles in cross-border yuan settlement, the trend is good," the source said.

BEIJING, July 3 (Xinhua) -- A total of 150 disabled people were honored in Beijing Friday as national models for self-reliance.     They were the fourth batch of such honorees since China began in 1991 to honor disabled citizens for their unyielding spirits in the face of adversity.     "I'm very happy and proud of myself," said 32-year-old Ma Yunli, one of the medal receivers.     A native in Yanan in northwest China's Shaanxi Province, the mentally-challenged girl was winner of several medals of Paralympic Games.     "Through years' efforts, I can basically take care of myself and can even do some simple things for my family members," she said.  Chinese President Hu Jintao (R, front) shakes hands with representatives before a national meeting in Beijing, capital of China, July 3, 2009. The meeting is to award some handicapped people for their self-reliance and a number of people and units for their assistance to the handicapped population. Leaders of the Communist Party of China and the Chinese government, including Hu Jintao, Wen Jiabao, Li Changchun, Xi Jinping and Li Keqiang, met with representatives before the meeting.    "I achieved my success with the help of many kindhearted people," she said. "There are still many mentally-challenged people like me who need to be taken care of and aspire for help. I also want them to achieve success."     According to the China Disabled Persons' Federation (CDPF), the honored disabled this year aged from 19 to 72. Some of them are workers, farmers, students, and others come from various sectors including education, medical service, law, culture and science.     Among them, 97 suffer from limb disabilities, 32 are sight-disabled, 18 have hearing problems, two are mentally-impaired, one suffers from more than one kind of disability.     Also at Friday's conference, 200 institutions and 150 individuals were honored for the great help they had given to the disabled.     China has more than 83 million people with various kinds of disabilities, accounting for 6.34 percent of the total population.     Chinese leaders including Hu Jintao, Wen Jiabao, Li Changchun, Xi Jinping, and Li Keqiang met the delegates of the conference before it started.     Vice Premier Hui Liangyu said while addressing the meeting that the government should "speed up the establishment of social security and service systems for the disabled to create equal and better environment for them to participate in social affairs and for their all-round development."     Activities to help this group of people should be "more professional" and "standardized," said Hui, also director of the disabled working committee of the State Council, or Cabinet.     The CDPF's Chairwoman Zhang Haidi, a wheelchair-bound writer, presided over the conference.

BEIJING, June 14 (Xinhua) -- The China Ping An Insurance (Group), which had plans to buy a 22 billion yuan (3.2 billion U.S. dollars) stake in Shenzhen Development Bank (SDB), said Sunday that there are no changes in buying into the bank for the moment.     There are no changes in the bank, and the stake purchase aims to improve Ping An's financial service and asset structure, said Zhang Zixin, general manager of the China's second largest insurer via a telephone news conference.     Ping An and SDB will operate with their own plans. The management team of the bank will not change right now, according to the Frank Newman, president of SDB, and Richard Jackson, president of the Ping An Bank Co., Ltd.     The company said last Friday it would buy 520 million shares from the U.S.-based TPG's Asian arm Newbridge Capital for 11.45 billion yuan by the end of 2010. Newbridge Capital is currently the top shareholder in Shenzhen Development Bank.     The Ping An would acquire no more than a 30 percent stake in Shenzhen Development Bank after the two deals, and become the top shareholder instead.     The Ping An Group, together with Ping An Life Insurance, currently holds a 4.68 percent stake in Shenzhen Development Bank.

L'AQUILA, Italy, July 8 (Xinhua) -- Chinese State Councilor Dai Bingguo, who was to attend outreach session of the G8 Summit on behalf of Chinese President Hu Jintao, met here on Wednesday with Jacob Zuma, president of South Africa, calling for deepening cooperation between the two countries.     During the meeting, Dai conveyed President Hu's greetings and congratulations to Zuma on his victory in the general election, according to a press release issued by the Chinese delegation. Chinese State Councilor Dai Bingguo (L) meets with President of South Africa Jacob Zuma in L'Aquila, Italy, July 8, 2009. On behalf of Chinese President Hu Jintao, Dai Bingguo will attend a dialogue meeting of the Group of Eight and the Group of Five major developing countries in the central Italian city of L'Aquila.Dai said both China and South Africa are important developing countries, and deepening the bilateral strategic partnership is not only in the basic interest of both countries and both peoples, but also helpful to the substantial cooperation between China and Africa at large.     As the global financial crisis has crippled the world economy and exerted negative impact on the people's life, Dai called for further all-around cooperation between the two countries. Chinese State Councilor Dai Bingguo (2nd L) meets with President of South Africa Jacob Zuma (2nd R) in L'Aquila, Italy, July 8, 2009. On behalf of Chinese President Hu Jintao, Dai Bingguo will attend a dialogue meeting of the Group of Eight and the Group of Five major developing countries in the central Italian city of L'Aquila.According to Chinese diplomats, the state councilor offered a four-point proposal on boost bilateral ties: to conduct more political communication and exchange, to expand trade and deepen economic cooperation, to encourage more exchange of visits, and to enhance cooperation and coordination in international organizations as well as on multinational diplomatic occasions.     Zuma, on his part, said South Africa attaches importance to its ties with China, willing to coordinate more on international issues and deepen the friendly cooperation between the two countries.     Zuma also extended his thanks for China's aid to Africa, according to the press release.     On the international issues, Zuma said the international community should enhance cooperation to jointly address the global challenges like economic recession and climate change. 

BEIJING, July 17 (Xinhua) -- Many countries around the world said the July 5 riot in northwest China is an internal affair of the country, and the Chinese government is handling the incident properly.     A spokesman for the Belarusian Foreign Ministry, Andrei Popov, said Xinjiang is an inalienable part of China, and the unrest is a purely internal matter of China.     The riot in Urumqi, the capital of China's Xinjiang Uygur Autonomous Region, left 197 people dead and more than 1,680 injured.     Popov also expressed hope that China could soon restore stability in the region by adopting effective measures in accordance with the law.     He said Belarus expresses its deep sympathy to the people who suffered personal injuries or loss of property during the violence.     A spokesman for Pakistan's Foreign Ministry, Abdul Basit, said his country deplores any attempt to hinder China's progress.     "We deplore any such attempt" which tries to impede the progress which has been achieved by China in the context of social harmony, he said in a recent interview with Xinhua.     "We are committed not to allow any element in Pakistan to work against the interests of China because China's interests are Pakistan's interests. We cannot allow any activity that will damage China's interests," Basit said.     Pakistan's Foreign Ministry, in a statement issued shortly after the Urumqi riot, applauded the efforts of the Chinese leadership to promote the concept of harmony both at home, in Asia and the rest of the world.     Turkish Parliament Speaker Koksal Toptan said his country supports the principle of resolving the issue within the framework of the territorial integrity of China.     The Turkish Foreign Ministry said the country highly values its relations with China and does not intend to interfere in China's internal affairs.     Thailand's Foreign Ministry said on Thursday the July 5 riot is a domestic issue of China and it believs China is capable of stabilizing the situation and restoring peace and harmony in Xinjiang.     Combodia's Ministry of Foreign Affairs and International Cooperation said: "The Chinese government is taking appropriate measures to handle the issue."     The Foreign Ministry of Laos also issued a statement on the July 5 riot. It said Laos believes the measures the Chinese government has adopted to safeguard social stability are necessary and legitimate, and expressed hope the government could bring peace back to the region at an early date.  

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