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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, May 12 (Xinhua) -- The China-Arab Cooperation Forum has become an important platform to enhance collective dialogue and cooperation between China and the Arab world, said Chinese Foreign Minister Yang Jiechi here on Wednesday.Yang made the remarks in a meeting with his counterparts from Arab countries attending the fourth Ministerial Meeting of the China-Arab Cooperation Forum, scheduled on Thursday and Friday in north China's port city of Tianjin.Yang hailed the steady growth of China-Arab friendly cooperative ties based on the Five Principals of Peaceful Co-existence and features mutual trust, benefits and support.He said the two sides had set up more than ten cooperative mechanisms covering politics, economy, trade, culture and education since the China-Arab Cooperation Forum was launched six years ago.The upcoming ministerial meeting is an important one to push forward further development of the forum mechanism, he said."China is ready to join hands with the Arab side to boost new progress of our cooperation, in a bid to benefit the two peoples," said Yang.Participants attending the meeting include Somali Minister of Foreign Affairs Ali Jama Ahmed Jengeli, Jordanian Minister of Foreign Affairs Nasser Judeh, Lebanon Minister of Foreign Affairs Ali Shami, Mauritanian Minister of Foreign Affairs and Cooperation Naha Mint Mouknass, Libyan Secretary for Foreign Liaison and International Cooperation Mousa Kousa, Minister of Foreign Affairs Sheikh Abdullah Bin Zayed Al Nahyan of the United Arab Emirates and Secretary-General Amr Mahmoud Moussa of the League of Arab States.They told Yang the Arab countries highly values their relations with China, eyeing the up-coming meeting as a new start to further boost Arab-China cooperation in various areas.Foreign ministers and officials from China and 22 Arab states will attend the two-day meeting in Tianjin.

TOKYO, June 1 (Xinhua) -- Visiting Chinese Premier Wen Jiabao on Tuesday reiterated China's pledge to take an "impartial" stand on the sinking of a South Korean warship."The sinking of the warship Cheonan is an unfortunate incident," Wen said during an interview with Japanese public broadcaster NHK. "We have offered condolences to the victims on many occasions."What China has in mind in approaching the incident, in which 46 South Korean sailors died after their warship sank in March, is maintaining peace and stability on the Korean Peninsula, he said.China attaches importance to the joint investigation conducted by South Korea and other countries and the reactions of various parties, and will take its position on the basis of truth and facts, he added.China appealed for calm on the part of the concerned parties so as to avoid a further escalation of tension and even conflict, he said.The Chinese premier said China understands the current difficult situation President Lee Myung-bak and the South Korean government are facing.China will seek information from various sources and seriously study it before making clear its stand in "a fair and objective manner," he said."We will adopt an impartial position," he said. China also maintains that any approach on it must serve the fundamental interest of maintaining peace and stability on the Korean Peninsula, he added.Wen said Japan is an important country in Northeast Asia and a close neighbor of China and South Korea. China is ready to cooperate with Japan on such issues as safeguarding security in Northeast Asia, he added.Japan is the second leg of Wen's four-nation Asian tour, which has already taken him to South Korea. He will also visit Mongolia and Myanmar.

BEIJING, May 30 (Xinhua) -- A senior Communist Party of China (CPC) official has urged greater effort to promote the ideological education of the nation's college students."Continuous efforts should be made to boost college students' ideological thought to nurture qualified successors for the construction of socialism with Chinese characteristics," said Li Changchun, member of the Standing Committee of the Political Bureau of the CPC Central Committee.Li made the remarks at a two-day meeting on the ideological education of college students, held in Beijing on Saturday and Sunday.Li Changchun (L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with a participant before a meeting on the ideological education of college students in Beijing, China, May 29, 2010. Li said although college students' ideological education has achieved good results in recent years, it is still not meeting the needs of the nation, the Party and the expectations of the people and the needs of achieving the healthy development of the students.He urged universities to create a sound environment for students' healthy growth and to keep ideological education close to reality, life and the students.

BEIJING, May 28 (Xinhua) -- As a bilateral agreement, the Japan-U.S. Treaty of Mutual Cooperation and Security should not harm the interests of China and other third parities, said Foreign Ministry spokesman Ma Zhaoxu here Friday.Ma made the remarks in response to a question about Japan's latest claim over the Diaoyu Islands in a news report.According to the report, Japan said on Thursday the Diaoyu Islands were a part of Japan and the U.S. would be obligated according to the treaty to engage in military conflicts between China and Japan over the island should they occur.Ma said China has indisputable sovereignty over the Diaoyu Island and adjacent islets, which have been an inalienable part of China's territory since ancient times.