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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 18 (Xinhua) -- Chinese Premier Wen Jiabao said China's economic performance is consistent with the government's macro-economic controls while on a three-day visit to Xi'an, capital of northwest China's Shaanxi Province, that ended Sunday.Wen visited Shaanxi Automobile Group Co. Ltd. The 42-year-old company is one of China's top five truck producers.Wen inspected an assembly line that produces a heavy truck every six minutes. He also talked with workers and fitted wheels to a tractor truck under the workers' direction."We must maintain the continuity and stability of macro-economic policies to ensure favorable external conditions for enterprises. But a company's growth ultimately relies on its inner drive. Companies should improve quality, develop new products and expand their market," he said.Wen also visited Shaanxi Huasheng (Group) Corp. Fruit Co. Ltd., a high-tech agriculture company in the apple industry. The company has production bases in more than 20 counties."The global economy is recovering, but at a slow pace. There are many uncertainties. We should expand domestic demand while stabilizing overseas demand," he said."Only through sound and relatively fast economic growth can we ensure employment and facilitate the restructuring of the economic development mode," he said.Wen also visited the Sixth Research Institute of the China Aerospace Science and Technology Corporation and the Northwest Institute for Non-ferrous Metals Research."The world is experiencing a technological revolution and one of its key fields is materials technology. We must always remember that high technologies cannot be bought. We have to rely on ourselves," he said.Wen visited Zhujiang New Town, a residential community providing affordable housing for low-income groups. There, he entered the home of 72-year-old He Jing, a retired teacher.

BEIJING, Aug. 11 (Xinhua) -- There have been no reports of an epidemic outbreak or public health incident in the northwestern Zhouqu County that was hit by a massive mudslide Sunday, a health official said Wednesday.Zhang Guoxin, vice director of the emergency office of the Health Ministry, made the remarks at a press conference in Beijing.Emergency medical rescue work was coming to an end and now epidemic prevention was the priority for health authorities, Zhang said.At least 702 people were killed and 1,042 others are missing after Sunday's mudslide.A total of 422 injured have been treated as of 10 a.m. Wednesday. All those who were seriously hurt have been sent to hospitals in the cities of Lanzhou and Tianshui, Zhang said.A survivor who was rescued 60 hours after the mudslide has been transferred to the Gansu Provincial People's Hospital and was currently in stable condition."All the injured have been properly treated," Zhang said.Forty-seven civilian and military medical teams with 779 members are working in Zhouqu, nine of whom are extremely well qualified and rank among the best in the country.A total area of 310,000 square meters has been sterilized by the teams.Health authorities have prepared 50,000 pamphlets on health risks for local residents.Zhang said health authorities were attempting to rebuild hospitals and clinics in Zhouqu as quickly as possible.
BEIJING, July 6 (Xinhua) -- Pakistani President Asif Ali Zardari arrived in Beijing Tuesday evening, starting a five-day working visit to China.During Zardari's stay here, Chinese President Hu Jintao will hold talks with him. Premier Wen Jiabao and top political advisor Jia Qinglin will also meet with him.The leaders will exchange views on enhancing bilateral friendship and promoting reciprocal cooperation, and discuss international and regional issues of common concern, according to the Chinese Foreign Ministry.Zardari will leave Beijing for Shanghai later this week, and visit the Pakistani National Pavilion at the Shanghai World Expo.This is Zardari's fifth visit to China since he became president of Pakistan.
ATHENS, June 15 (Xinhua) -- Visiting Chinese Vice Premier Zhang Dejiang and his Greek counterpart Theodoros Pangalos on Tuesday agreed to enhance bilateral cooperation in various areas including economy, education, culture and international affairs.Zhang said that China is willing to cooperate with Greece to push forward their comprehensive strategic relations.China is ready to cooperate with Greece to expand bilateral trade and investment, and strengthen mutual understanding and friendship between the two countries, he said. Greek Deputy Primer Minister Theodoros Pangalos (L) meets with Chinese Vice Premier Zhang Dejiang in Athens, Greece, on June 15, 2010. Zhang is in Greece for an official visit. China is also willing to expand its import of Greek products and hopes that Greece could provide convenience and support for Chinese enterprises that made investments or started businesses there, said Zhang.He also urged the two sides to boost maritime cooperation.Pangalos hailed China-Greece relations as "excellent," saying Greece will continue to strengthen its strategic relations with China, and carry out effective cooperation in regional and international issues.Pangalos said Greece also hoped that the two governments could strengthen cooperation in maritime affairs, trade and economy and investment so as to achieve common development.The two nations signed a total of 14 cooperation agreements on Tuesday in the presence of the two vice premiers.
来源:资阳报