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BEIJING, April 22 (Xinhua) -- The Chinese government announced a string of emergency measures Wednesday to provide convenient financial services for people in the quake-hit Qinghai Province and to support reconstruction.The People's Bank of China, the central bank, would lower the deposit reserve ratio for financial institutions in the quake area by 1 percentage point from Wednesday to help increase lending, said a statement posted on the website of the central bank.It would also reduce its rediscount rate for local Rural Credit Cooperatives by 1 percentage point to ease their financial burden.The rediscount rate is the interest rate charged to banks and deposit institutions when they borrow money from the central bank.The return of loans extended before the earthquake was not imperative until June 30, 2011. Residents and companies would be exempted from bad credit records if they could return their loans before the deadline, the central bank said.The statement urged local banks to resume business as soon as possible to meet rising demand for financial services.They should set up temporary outlets in tents, extend office hours and take measures to ensure adequate cash supplies so that residents could deposit and withdraw money conveniently.The measures were jointly introduced by the People's Bank of China, the China Banking Regulatory Commission, the China Insurance Regulatory Commission and the China Securities Regulatory Commission.The 7.1-magnitude quake struck the Tibetan Autonomous Prefecture of Yushu on April 14, leaving 2,183 people dead, 84 missing, and 12,135 injured as of Wednesday.

BEIJING, May 6 (Xinhua) -- Beijing police have refuted a rumor that a school attack occurred Thursday morning at a primary school in the city.An Internet post said an attack was carried out at Xiwang Primary School at around 9 a.m. in Sibozi of Beijing's Changping District and the police evacuated all the students on campus."There is no such school in Sibozi. And we never received a report of a school attack," said a spokesman with the Beijing Municipal Public Security Bureau Thursday afternoon.The police have launched an investigation into the source of the rumor, said the spokesman.The rumor came after a series of recent school attacks in China's Fujian, Guangdong, Jiangsu and Shandong provinces.

YUSHU, Qinghai, April 15 (Xinhua) -- Chinese Premier Wen Jiabao on Thursday called for unremitting efforts to save people's lives in a visit to the quake-hit area in northwest China's Qinghai Province."The top priority is to save people. We will never give up even if there is only a slim hope," Wen told a meeting at the quake-relief headquarters in Yushu.Wen arrived in Yushu prefecture Thursday afternoon after a three-hour flight and rushed to the worst-affected areas.He visited the ruins triggered by the quake and a local hospital to inspect the rescue work, expressing his sympathy to families of the victims.Chinese Premier Wen Jiabao (R) visits a Tibetan woman in Yushu, northwest China's Qinghai Province, April 15, 2010. Wen arrived here on Thursday to inspect the disaster relief work and visit quake-affected local people.Wen stressed that efforts should also be exerted to strengthen medical care, ensure the basic livelihood of local people, rebuild infrastructure, guard against aftershocks and release information openly.The 7.1-magnitude quake, which struck the Tibetan Autonomous Prefecture of Yushu in southern Qinghai Province early Wednesday has left 760 dead, 243 missing and more than 10,000 injured as of 5 p.m. Thursday.

BEIJING ,May 6 -- China Mobile on Wednesday launched an online platform that enables its subscribers to read and download digital publications through cell phones and e-book readers, as part of its effort to profit from the country's emerging mobile reading market.The world's biggest cellphone carrier in terms of subscribers kicked off an e-book store similar to Apple's iBook store, which gives users wireless access to a series of online publications such as e-books, comics and magazines."Reading habits have fundamentally changed," said Gao Nianshu, general manager of China Mobile's data department. He said the company hopes the new platform will attract over 200 million users in the near future. Primary school students in Yangzhou, Jiangsu province, read e-books. China Mobile hopes its newly launched platform will attract over 200 million users in the near future.According to figures from China's Ministry of Industry and Information Technology, cellphone users in the country reached 780 million at the end of March. Of that group, mobile readers surpassed 155 million, the ministry said.Interest in e-book readers made by firms such as Hanwang Technology, Amazon and Founder since last year also significantly boosted demand for mobile reading.Gao said China Mobile's new e-book platform, which currently covers about 40 percent of the best selling books in the country, has attracted over 15 million users during four months of testing in eight areas.He said the company's online e-book store will also support the iPad, the tablet computer launched by Apple Inc last month."Mobile reading has become a popular service with mobile Internet users in China," said Zhang Yanan, analyst from research firm Analysys International, in a research note.But he said that although about 45 percent of Chinese mobile Internet users read books at least once a day by mobile phone, few of them are willing to pay for online content.According to China Mobile, the subscription fee for its online e-book store is up to five yuan per month, 40 percent of which will be shared with copyright owners.Zhong Tianhua, head of China Mobile's subsidiary in Zhejiang province, who oversees the company's online e-book store business, said the company's strategy is to attract as many users as possible in the first three years with the lowest pricing possible.Companies including Nokia, Motorola, Hanwang, Founder, Datang and Huawei Technologies have released products that support China Mobile's new service. But many e-book makers have also established their own online e-book stores, putting them in competition with China Mobile.It was reported earlier this week that China Mobile plans to team up with Foxconn Electronics of Taiwan province to produce its own e-book readers.

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.