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BEIJING, June 11 (Xinhua) -- Chinese President Hu Jintao and U.S. President Barack Obama sent messages respectively to the United States' National Symphony Orchestra (NSO) Thursday, wishing its performance in China a success. "I am pleased to extend my warm welcome to all the visiting artists from the United States," Hu said in the message. He recalled the NSO's first visit to China in 1999, saying it "left a beautiful impression to the Chinese audience." Hu hailed the Symphony's second visit to China at the 30th anniversary of the establishment of China-U.S. diplomatic relations. He said music can help to "refine sentiment of humankind and promote communication between people's hearts of different countries." "I believe that music from across the Pacific Ocean will enhance the mutual understanding between our two peoples and certainly write a new chapter in the long run of friendship between us," Hu said. He also wished the performances of the NSO a great success. In his message, Obama extended a heartfelt welcome to all those attending this performance of the NSO as it tours the People's Republic of China for the second time. "Music has been called a universal language, " said Obama. "It has the potential to build inter-cultural bridges, forge new relationships among peoples and nations, strengthen our understanding of history and tradition, and enrich our lives and our communities." "I believe that rich cultural and artistic exchanges like this one will help bring our peoples and our nations closer together," Obama stressed. The NSO, founded in 1931, is an American symphony orchestra that regularly participates in events of national and international importance, including performances for ceremonial state affairs, presidential inaugurations and official holiday celebrations. The orchestra came to China at the invitation of the Ministry of Culture. It plans to give a series of concerts in Beijing, Xi'an and Shanghai and perform the renowned works of Mendelssohn, Tchaikovsky and Wagner for the Chinese audience.
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.
SINGAPORE, May 15 (Xinhua) -- China Aviation Oil said on Friday that its net profit in the first quarter of this year fell by 54.6 percent on-year to 4.1 million U.S. dollars. The company said in a statement that revenue fell by 34.8 percent to 655.6 million U.S. dollars in the first quarter of 2009 over the same period last year. The company said the drop was mainly due to lower jet fuel prices in the first quarter of this year, adding that it will continue to take a cautious approach to its trading activities during the global downturn.
BEIJING, April 21 (Xinhua) -- China and Albania issued a joint statement here Tuesday in which they said they would boost their traditional friendship and bilateral cooperation in all fields. The statement was issued after official talks between Chinese Premier Wen Jiabao and his Albanian counterpart Sali Berisha in the Great Hall of the People during the afternoon. The two countries vowed to increase mutual investment, encourage more business contacts and promote a balanced development of trade ties, the statement said. China would support its competitive companies to invest in Albania and participate in the country's infrastructure construction, energy and mine exploitation, it said. Albania said it appreciated China's aid for its economic development. Chinese Premier Wen Jiabao (R) shakes hands with Albanian Prime Minister Sali Berisha during a welcoming ceremony in honor of Berisha at the Great Hall of the People in Beijing, capital of China, April 21, 2009 The two countries pledged to strengthen dialogue at various levels and increase exchanges and cooperation between governments, parliaments and political parties, according to the statement. They would expand cooperation in tourism, agriculture, public health, technology, culture and education, and encourage more exchanges among their local governments and non-governmental groups. According to the statement, Albania reiterated its adherence to the one-China policy. It acknowledged there is only one China in the world and the government of the People's Republic of China (PRC) is the sole legal government representing the whole China and Taiwan is an inalienable part of China. Chinese Premier Wen Jiabao (2nd L) holds talks with Albanian Prime Minister Sali Berisha (2nd R) at the Great Hall of the People in Beijing, capital of China, April 21, 2009. Albania opposes Taiwan joining international organizations that are only open to sovereign nations and is against "Taiwan independence" secessionist activities in any form, the statement said. Albania also promised not to establish official ties and not to have official contact with the Taiwan authority. China highly appreciated the stance of the country, the statement said. In face of the global financial crisis, the two countries called on the international community to enhance financial supervision cooperation, fight trade protectionism and reduce the damage of the crisis to developing countries. China respected the Albanian people's choice of a development path in line with their domestic situation and understood their efforts to join the European integration process, the statement said. The two countries agreed to abide by the principles of the UN Charter, and support the UN's leading role in safeguarding international security, promoting common development and peacefully solving international disputes. Both sides proposed to strengthen the function and authority of the UN and UN Security Council and agreed to increase cooperation in the United Nations and other international organizations, the statement said. The international community should work together to combat terrorism, and the two nations agreed to respect each other's security concerns. Albania spoke highly of China's achievements since the founding of the PRC 60 years ago and appreciated China's contributions to world peace and development. Both sides applauded their remarkable cooperation in various areas, and agreed to hold activities to celebrate the 60th anniversary of bilateral ties, the statement said.