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BEIJING, June 23 (Xinhua) -- Chinese banks should set up an independent risk management system in line with its strategic expansion plan as part of efforts to ward off financial risks, China's banking regulator said Wednesday.The breakout of the global financial crisis highlighted the necessity of increasing management of differentiated sovereign risks, the China Banking Regulatory Commission said in a guideline published on its website.Just as Chinese banks were expanding throughout the world, the overseas risks they were facing were on the rise, the guideline noted.Sovereign risks refer to ones that banks are exposed to when overseas borrowers or debtors are unable to repay debt because of their countries' economic, political and social changes.Chinese lenders were required to differentiate risks according to the countries involved and make policies on the minimum potential loan loss provisions ranging from 0.5 percent to 50 percent, according to the guideline.The banks must meet the requirements under the guideline by June 1, 2011.
TAIYUAN, July 1 (Xinhua) -- Eight of nine miners trapped underground Wednesday at a flooded coal mine in north China's Shanxi Province were confirmed alive, while another remains uncontactable, said local mine safety authorities.As of 11:30 p.m. Wednesday, eight miners trapped 1,380 meters below ground had contacted the rescuers and they would be rescued soon.The accident happened around 5 p.m. at Shengping Coal Mine in Jixian County when 23 miners were performing repair work underground. Fourteen miners managed to escape.The Shengping Coal Mine, owned by the Shanxi Coal Transportation and Sales Group Co., Ltd., has an annual capacity of 900,000 tonnes of coal.

MELBOURNE, Australia, June 19 (Xinhua) -- Visiting Chinese Vice President Xi Jinping met with John Brumby, Premier of Victoria state later Saturday.Xi Jinping, who is visiting Australia at the invitation of Prime Minister Kevin Rudd, said his visit aims to enhance mutual trust and friendship, promote extensive exchanges and cooperation and he is to meet Australian leaders and friends of different sectors during the visit.Xi said exchanges and cooperation at state and province level are important to bilateral relations. In recent years, friendly cooperation between Victoria state and China has achieved positive results, especially in trade and education sectors.(Xinhua/Liu Weibing) (ypf)" hspace="0" src="/d/file/p/2010/06/e99cfd599976853f5e524c867d176e88.jpg" border="0" />Chinese Vice President Xi Jinping (R) meets with Australia's Victorian Premier John Brumby in Melbourne, Australia, June 19, 2010. Xi arrived at Melbourne on Saturday afternoon, starting his official visit to Australia, the last leg of his four-nation visitsXi said the Chinese government and relevant provinces and cities in China attach great importance to further exchange and cooperation with the state of Victoria.He said joint efforts can be made in technological cooperation, especially the high technology sector, research and manufacturing of clean energy automobiles. The two sides can make the most of their high level of complementary properties of trade and investment relations and at the same time deepen cooperation in agriculture.People-to-people relations are also important, Xi said, adding that the two sides need to further encourage education and travel by having more university-level exchanges, training, visiting scholar programs, technological and educational cooperation.Xi said this year's Shanghai World Expo, the year of Australian culture in Beijing as well as next year's China year in Australia are providing opportunities for more people-to-people exchanges and links. He said with joint efforts, friendly cooperation between Victoria and China will provide genuine benefits to the peoples.Premier Brumby gave Vice President Xi a warm welcome for making Melbourne the first leg of his visit to Australia. Brumby said, given cooperation in extensive areas, relations between Australia and China enjoy a strong trend. The existing cooperation in energy, resources, mineral, culture, education and travel has been very fruitful.
XINING, July 21 (Xinhua) -- A senior Chinese official has called for more social and economic development in the nation's Tibetan-inhabited regions to improve people's livelihoods.Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during his visit to northwest China's Qinghai Province on Monday and Tuesday.Zhou visited workers fighting floods on the Golmud River and he urged local governments to work hard to ensure the safety of the Qinghai-Tibet railway.While visiting quake-devastated Yushu County, Zhou urged the local government to speed up the rebuilding of quake survivors' homes.Zhou encouraged the local Tibetan people to be optimistic about the future and to put the disaster behind them.Zhou also visited a PetroChina refinery in the province and called on the company's staff to overcome the difficulties of life on the plateau and to make greater contributions to the nation's energy industry.While visiting local communities in Golmud City, Zhou asked the local police to better serve residents and called on local Muslims to maintain national unity and social stability.
来源:资阳报