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BEIJING, July 10 (Xinhua) -- China's Ministry of Finance (MOF) announced Friday that it will launch two more batches of electronic savings bonds of up to 50 billion yuan (7.32 billion U.S. dollars) since next week.     According to the ministry, one batch of the e-savings bonds of 40 billion yuan has a term of three years, with a fixed annual interest rate of 3.73 percent.     The other, the five-year e-savings bonds, is worth 10 billion yuan at a fixed annual interest rate of four percent.     The two bonds will be issued from July 15 to 31, with interests to be calculated from July 15 and paid annually, said the ministry in a statement on its website.     These bonds are open to only individual investors, the MOF said.     Compared with other types of bonds, the e-savings bond is seen as more convenient for investors. For example, the interest can bepaid through direct deposit into the investor's account.     This is the second time the ministry launches this kind of bond this year, with the first issuance of two batches of e-savings bonds in April.     The ministry also said it would issue two batches of book-entry treasury bonds next week with a face value of 12.48 billion yuan and 12.65 billion yuan each.     One with the face value of 12.48 billion yuan has a term of 91 days, and the issue price, set by competitive bidding, was 99.72 yuan for a face value of 100 yuan. In this sense, the annual yield will be 1.15 percent, the ministry said.     The other has a term of 273 days, and the issue price was set at 99.077 yuan for 100 yuan, with an annual yield of 1.25 percent.     The ministry said the book-entry T-bonds will be sold from July 13 to July 15. Trading of the bonds will begin July 17.

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.

YEKATERINBURG, Russia, June 16 (Xinhua) -- Chinese President Hu Jintao Tuesday presented a four-point proposal for dealing with the ongoing global financial crisis at the first summit meeting of BRIC countries which groups Brazil, Russia, India and China.     First, BRIC countries should commit themselves to bringing about an early recovery of the world economy, Hu said. "We should work hard to overcome the difficulties and try to take the lead in recovering from the global financial crisis," he said, adding "This is not only for our own need, but also contributes to world economic recovery." Chinese President Hu Jintao (2nd R) poses for a group photo together with Brazilian President Luiz Inacio Lula da Silva (1st L), Russian President Dmitry Medvedev (2nd L), and Indian Prime Minister Manmohan Singh during the first formal meeting of BRIC (Brazil, Russia, India and China) leaders in Yekaterinburg, Russia, on June 16, 2009    BRIC countries should solve the long-existing structural problems in their economic development and change their development pattern in an effort to improve the quality and level of their economic development , while striving to resume world economic growth.     He also urged BRIC countries to continue to open their markets, make use of their mutually complementary strength and expand economic and trade cooperation.     "We should also firmly oppose protectionism, jointly safeguard the normal and orderly flow of commodities, services and personnel worldwide, and help ensure that the Doha round of global trade talks would achieve a comprehensive and balanced outcome as soon as possible," he added. The first summit meeting of BRIC (Brazil, Russia, India and China) leaders is held in Yekaterinburg, Russia, on June 16, 2009.Second, BRIC countries should commit themselves to pushing forward the reform of international financial system, Hu said.     To establish a new international financial order that is fair, equitable, inclusive and well-managed, and provide guarantee for the sustainable development of the global economy in terms of system and mechanism conforms with the trend of the historical development and is in the fundamental interest of all parties, he said.     BRIC countries should improve the international financial supervision mechanism and ensure the effective participation of the developing countries in world financial supervision organizations such as the Financial Stability Board, Hu said.     Third, BRIC countries should commit themselves to implementing the UN Millennium Development Goals (MDGs), the president said.     The international community should not overlook development issues and cut the input for development while dealing with global financial crisis, he said.     Instead, it should pay close attention to the impact that the crisis has left on developing countries, especially the least developed ones, he added. Chinese President Hu Jintao attends the first summit meeting of BRIC (Brazil, Russia, India and China) leaders in Yekaterinburg, Russia, on June 16, 2009The BRIC countries should call on all parties to continue to implement the MDGs and urge the developed economies to fulfil their commitment to assistance, he added.     Fourth, BRIC countries should commit themselves to ensuring the security of food, energy resource, and public health, he added.     He said while tackling the ongoing global financial crisis, efforts should be made to properly handle some outstanding problems that hinder development, such as climate change, food, energy, resource and public health security. A long-term approach and overall plan should be adopted to take all factors into consideration as these issues bear on the wellbeing of all peoples in the world and their overall interests, he added.     He also urged BRIC countries to increase investment in agriculture, develop advanced agricultural technique and curb market speculation. He also called for greater food assistance and closer agricultural and food cooperation.     "We should also accelerate our efforts in developing clean and renewable energy, and establish advanced research and promotion systems in a bid to diversity our energy supply," Hu said.     He urged the four countries to strengthen information exchanges and communication, share the experience on epidemics preventions and control, and work together to develop and share vaccines, and cooperate in pandemic control and prevention.

BEIJING, June 13 (Xinhua) -- The Chinese mainland confirmed 22 new A/H1N1 flu cases Saturday, bringing the total to 165, with no reports of deaths. Four new cases each were confirmed in Guangdong and Fujian provinces, three each were confirmed in Shanghai and provinces of Sichuan and Hubei, and two each in Zhejiang and Hainan provinces, the Ministry of Health said in the latest report. A worker tests a temperature monitor in the Xingang dock in Haikou, capital of south China's Hainan Province, June 13, 2009. Hainan confirmed its first A/H1N1 flu case, a female college student, on Friday night    The other case was reported in Beijing, the ministry said.     According to local health authorities, 38 confirmed A/H1N1 flu cases have been reported in Beijing, 37 in Guangdong, 25 in Fujian,17 in Shanghai, 15 in Sichuan, nine in Hubei, six in Zhejiang, four in Tianjin, three each in Shandong and Hainan, two in Hunan, and one each in Shanxi, Henan, Jiangxi, Guizhou, Jiangsu and Liaoning.

DALIAN, May 25 (Xinhua) -- China started the trading of polyvinyl chloride (PVC) futures contracts at 9 a.m. at DALIAN Commodity Exchange Monday, with September contract V909 opening 275 yuan higher at 6575 yuan per ton.     After steel futures and rice futures, this is the third new futures trading launched in China this year.     PVC is a kind of synthetic resin widely used in construction, plumbing, electric wires and packaging. China is the world's largest PVC manufacturer, with an annual output of 8.82 million tonnes last year. A trading staff looks at the price of futures contracts at the hall of the Dalian Commodity Exchange in Dalian, a coastal city in northeast China's Liaoning Province, May 25, 2009. China started the trading of polyvinyl chloride (PVC) futures contracts at 9 a.m. at Dalian Commodity Exchange Monday, with September contract V909 opening 275 yuan higher at 6575 yuan per ton. China is the world's largest PVC manufacturer, with an annual output of 8.82 million tonnes last year

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