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SHANGHAI, Jan. 11 (Xinhua) -- China has allowed the Bank of East Asia (BEA) to issue yuan-denominated bonds in Hong Kong for a second time, about three years after it became the first foreign-invested bank to make a yuan bond issuance, the bank said Wednesday.BEA China Ltd, a wholly-owned subsidiary of the BEA, was given the approval by the National Development and Reform Commission of China to issue yuan bonds in Hong Kong, it said.Details on the amounts and timing of the offerings weren't available. In 2009, in a major landmark, the BEA issued its first yuan bonds in Hong Kong in an aggregate principal amount of 4 billion yuan (630 million U.S. dollars).The BEA was among the first foreign-invested banks to be given the green light to issue yuan-denominated bonds in Hong Kong, a move analysts say will bolster the international influence of the Chinese currency, also known as renminbi.Sun Minjie, deputy head of BEA China, said the second bond issuance will give the bank stable access to capital, improve its debt portfolio, and support its development on the Chinese mainland.
BEIJING, Jan. 21 (Xinhua) -- A locomotive producer in central China's Hunan province on Friday rolled out a low-cost magnetically levitated (maglev) train that is more environmental-friendly than conventional ones.The three-carriage train is designed to run at a maximum speed of 100 km per hour and carry 600 passengers, said Xu Zongxiang, general manager of Zhuzhou Electric Locomotive Co. Ltd. of China South Locomotive and Rolling Stock Corporation (CSR). Xu said the new train was much quieter than conventional ones. While a conventional train moves forward by using friction between its wheels and the railway tracks, the maglev train replaces wheels by electromagnets and levitates on the guideway. According to Xu, his company's has minimized the risk of the new maglev train derailing or overturning. "It's ideal for mass transportation, as it is quiet and environmental-friendly. Its manufacturing cost is about 75 percent of a conventional light-rail train," said Xu. The maglev train has a minimum turning radius of 50 meters and can easily run in residential communities or on hilly slopes. "It's an ideal public transport option for Chinese cities and major tourist destinations," said Xu. Railway transport specialist Liu Youmei, also an academician with Chinese Academy of Engineering, said the new train is green, economical and safe. "It can be used for public transport in populous areas and at scenic spots with fragile environments." Liu said China is one of a few countries that have applied maglev technology. Beijing is building a maglev route, the Daitai line (S1), which starts at its IT center in Haidian district, passes through Shijingshan district, and ends in Mentougou district on its western outskirts. The line will be operational next year.The eastern metropolitan of Shanghai runs the world's first commercial maglev system on a 30-km stretch between the downtown business district and Pudong airport. The German-made maglev went into operation on Dec. 31, 2002.
BEIJING, Oct. 7 (Xinhua) -- Chinese scientists are developing new methods like spraying or dropping hepatitis vaccines into people's noses to replace traditional injections, according to a leading expert on immunology.Such researches were sponsored by a key national science project, according to Wen Yumei, an academician of the Chinese Academy of Engineering, also the chairwoman of the 14th International Symposium on Viral Hepatitis and Liver Disease, which is scheduled to be held in Shanghai next July.At a press conference held here Friday for the symposium, experts believed that broad-coverage inoculations is an effective way in facilitating the country's goal in controlling Hepatitis B.China's Ministry of Health has also credited its national immunization program for having protected about 80 million people from being infected with the Hepatitis B virus (HBV) in the 19 years after 1992.Recent report showed that about 93 million Chinese are HBV carriers, accounting for more than a quarter of the world's total.
MOSCOW, Oct. 3 (Xinhua) -- A Soyuz-2.1B rocket carried a Glonass-M navigation satellite into orbit early Monday after a two-day delay caused by high winds, a Russian Space Forces spokesman said."The launch of the booster rocket is as scheduled. The satellite Glonass-M was put into the orbit under control at 03:55 Moscow time (2355 GMT on Sunday)," said Colonel Alexei Zolotukhin.Zolotukhin told reporters that the rocket was launched at 0:15 Moscow time (2015 GMT, Sunday) from the Plesetsk Space Center in northern Russia.The Russian Space Forces said the launch was initially scheduled for Saturday but was postponed due to high winds.Glonass is the Russian equivalent of the U.S. Global Positioning System (GPS), which is designed for both military and civilian use. The system requires 24 operational and 2-3 reserve satellites in orbit to ensure global coverage.In December 2010, a malfunction of the booster resulted in a loss of three Glonass satellites.
HONOLULU, United States, Nov. 10 (Xinhua) -- Chinese President Hu Jintao arrived in Honolulu, Hawaii, on Thursday for the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC), slated for Saturday and Sunday.At the annual meeting, leaders of the 21-member group will exchange views on economic growth in the Asia-Pacific region, strengthening regional economic integration and expanding trade.They will also consider the promotion of green growth and fostering job creation in green industries, energy security, and expanding regulatory cooperation and advancing regulatory convergence.Chinese President Hu Jintao (C) arrives in Honolulu, Hawaii, U.S., Nov. 10, 2011. Chinese President Hu Jintao arrived in Honolulu, Hawaii, on Thursday for the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC), slated for Saturday and Sunday.President Hu is expected to speak at the meeting and express his views on the world economic situation and the regional economic situation, Wu Hailong, assistant foreign minister of China, said at a press briefing earlier this week.In his speech, Wu said, the Chinese leader will call for "improving global economic governance, shifting the growth method, promoting economic globalization and regional economic integration."Hu will also explain "China's stand on the issues of free and open trade and investment, green growth, the adjustment of economic structure and regulatory cooperation," Wu said.In Hawaii, Hu will join other APEC leaders in dialogue with the APEC Business Advisory Council (ABAC).APEC leaders are expected to discuss with ABAC representatives, among other things, regional economic integration, reform of the international monetary system, and food security.The Chinese leader is scheduled to deliver a speech at the APEC CEO summit Saturday.On the sidelines of the APEC Economic Leaders Meeting, President Hu will meet U.S. President Barack Obama and other leaders of APEC members."China hopes the meeting will further promote the free and open trade and investment in the Asia-Pacific region, push forward economic and technology cooperation, support multilateral trade systems, oppose trade protectionism, so as to inject vitality into world economic recovery and growth," Assistant Commerce Minister Yu Jianhua said at a press briefing earlier this week.APEC is the premier economic forum in the Asia-Pacific region.Since APEC's birth in 1989 it has grown to encompass 21 members spanning four continents, and represents the most economically dynamic region in the world, accounting for approximately 40 percent of the world's population, around 50 percent of world GDP and about 44 percent of world trade.APEC's 21 member economies are Australia, Brunei, Canada, Chile, China, China's Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam.