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BEIJING, May 3 -- Ma Weihua, president and chief executive officer of China Merchants Bank (CMB), said he wanted to see Chinese banks elevate their level of globalization in the context of expedited overseas expansion of Chinese companies during his bank's recent road show in the United States. He said CMB would pursue this process ambitiously but cautiously.The bank is soon to relocate its night-shift foreign exchange trading team to its New York branch, which was established in 2008, and will move on to security trading as well in the future, according to Ma during a group interview. The branch is also working on consolidating its dollar settlement business."What I'm concerned about right now is to first have my New York branch familiarized with the US market, customers and rules as soon as possible so I can expand the business steadily," Ma told the audience at a recent speech at New York University's Leonard N. Stern School of Business. "We won't consider faster expansion until we have secured our position here."Because of policy restrictions, CMB and other Chinese banks are only able to provide very limited services overseas for now. Retail banking, which CMB is best at, is still being constrained in its New York branch, its first branch in the West. But the bank is eyeing up other opportunities.The branch is attaching increasing importance to the loan business for Chinese companies during their overseas merger and acquisition activities. It just completed a big deal for a Chinese State-owned conglomerate but declined to reveal its name."The most fundamental motive to globalize our bank is to support Chinese companies' overseas growth and to provide the same quality service for foreign companies as well when they come to China," Ma said.According to Ma, over the past five years, Chinese companies' overseas direct investment saw an annual increase of 60 percent and their non-financial overseas investment grew by 68.5 percent year-on-year.In comparison, overseas assets only make up less than 4 percent of Chinese banks' total assets, while in large banks in Europe and the US, the proportion is about 40 percent, he said.

BEIJING，April 4 (Xinhua) -- Frequent cold fronts in the coming 10 days would bring rainfalls to drought-hit Guangxi Zhuang Autonomous Region and Guizhou Province, China Meteorological Administration (CMA) said Sunday.Light to moderate rains or showers are forecast in Guangxi, western Guangdong, southwestern Hubei, most parts of Guizhou, northwestern Yunnan and the northeastern part of the Western Sichuan Plateau on April 5, according to the CMA.But apart from its northwestern region, Yunnan province, worst hit by the current drought, would see virtually no precipitation in the next 10 days, the CMA said.The cold fronts would also cause temperature drops of 4 to 6 degrees Celsius in Inner Mongolia, northeast China, eastern part of northwest China and north China in the next three days.From April 7 to 9, northern part of China would expect windy and sandy weather. Northern and eastern parts of Northeast China would see moderate to heavy snow during the three days.

BEIJING, June 2 (Xinhua) -- China's disaster relief authorities Wednesday launched an emergency response plan to help victims of the rainstorms and flooding in south China's Guangxi Zhuang Autonomous Region, which has left at least 30 dead.The China National Committee for Disaster Reduction and the Ministry of Civil Affairs initiated a level IV emergency response plan and dispatched a working team to help guide relief work in the flood-hit zone.Heavy rains began pounding many places in Guangxi Monday and triggered landslides early Wednesday. The disaster has left 30 dead and 18 missing, according to latest official figures.Villagers carry their belongings in the flood at Shanglang Village of Gupeng Township in Xincheng County in south China's Guangxi Zhuang Autonomous Region, June 2, 2010.More than 80,000 local people had been evacuated from their homes as of 7 p.m. Wednesday, said a notice on the ministry website.More than 2.1 million people in Guangxi were affected by the disaster and more than 4,200 homes had been damaged, the notice said.The ministry had allocated a batch of relief materials, including 2,000 tents, the notice said.Guangxi's regional civil affairs department also initiated a level-IV emergency response plan Wednesday noon, allocating 1,200 tents and 1,000 cotton quilts to help settle victims.Under a level IV plan, the lowest of the four responses, the committee and the ministry should send a working team within 24 hours to the disaster zone and allocate relief materials within 48 hours.According to the ministry's working regulation on emergency response issued last year, emergency response plans should be initiated to help with relief work in natural disasters across the country. The level depends on damages and losses as well as the number of affected people.

SHANGHAI, April 28 (Xinhua) -- After nearly eight years of preparation and six rounds of trial operation, Shanghai is ready for the 184-day World Exposition which opens May 1.Some 189 countries and 57 international organizations have confirmed their participation in the largest-ever expo which is expected to attract more than 70 million visitors from all over the world.During the expo trial, more than one million people savored the charms of the marvelous pavilions at the World Expo site.Yang Xiong, executive vice mayor of Shanghai, said Wednesday, through the expo trial, the organizers gained experience, found problems and made adjustments."We examined facilities, improved systems, trained staff and improved services thanks to the trial rounds," he said.