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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.

CHENGDU, June 3 (Xinhua) -- Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. (Tengzhong), a private Chinese firm who has struck a preliminary deal with General Motors Corp. (GM) for the premium SUV brand Hummer, said Wednesday it has no plan to manufacture Hummer in a Chinese plant. "Rather than setting up a plant in China, Tengzhong will use the current facilities including their employees in the United States," said Zhao Xiaolu, spokesman for the ongoing transaction for Tengzhong, a leading manufacturer of road, construction and energy industry equipment based in southwest China's Sichuan Province,     Zhao works for the Brunswick Group, which is handling the public relations matters for the Tengzhong deal. Tengzhong's managers were not available for comment on the transaction, which was disclosed Tuesday, a day after GM filed Chapter 11 bankruptcy. File photo taken on March 11, 2009 shows Hummer CEO James Taylor (R) presenting a Hummer model to a local official in Deyang, southwest China's Sichuan Province. U.S. automaker General Motors Corp., a day after filing Chapter 11 bankruptcy, has a tentative deal to sell its Hummer brand to Chinese-based Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd., the automaker said on June 2.     According to an overall restructuring plan, the U.S. based automaker GM will shed off its none-core assets including Hummer, Saturn, Saab and Pontiac.     The preliminary deal allows Tengzhong to keep the management and operational team along with the Hummer brand, and secure more than 3,000 jobs in the United States. The Chinese buyer will also assume existing dealer agreements relating to Hummer's dealership network.     Tengzhong CEO Yang Yi said in a statement Tuesday that the company will "allow Hummer to innovate under the leadership and continuity of its current management team".     James Taylor, Hummer chief executive officer, went to Chengdu City and Deyang City, Tengzhong's current base and new base under construction, to discuss project cooperation with local officials in March.     "This transaction, if successful," said Taylor in a statement Tuesday," will allow us to embark on a more aggressive global expansion, ensuring a successful future with our new partners."     According to Zhao, Tengzhong will use internal fund and bank loan to make the transaction, which will be a "strategic move for the company to expand into the premium off-road vehicle segment". Formed in 2005 through a series of mergers, Tengzhong currently has more than 4,800 employees.     "It is probably more attractive for Chinese enterprise like Tengzhong to learn from the foreign brand's past successful experience in research, design, marketing and service," said Guo Guoqing, a professor with the School of Business, Renmin University of China.     Xu Zhaohui, head of the Sichuan Provincial Department of Commerce, said the officials will "strive to serve the transaction", which is expected to close in the third quarter of this year and is subjected to customary closing conditions and regulatory approvals.     In recent years, there have been several headline purchases of foreign auto brands by Chinese enterprises. A Hummer is on sale at a dealer in Flint, Michigan, the United States, May 30, 2009. General Motors Corp (GM) announced on June 2 that it has entered into a memorandum of understanding (MoU) with a buyer for HUMMER, its premium off-road brand, a day after it filed for bankruptcy protectionIn 2004, Shanghai Automotive Industry Corporation Group (SAIC)purchased 48.9 percent equity of Ssangyong Motor, the fourth largest automaker in the Republic of Korea (ROK). In 2005, Nanjing Automotive bought collapsed British brand MG. And this March, China's largest independent carmaker Geely Automobile acquired Drivetrain Systems International, the world's second largest auto transmission supplier.     "Acquisition of overseas brands by Chinese enterprises could help these brands go over operational dead end, and expand in the vast Chinese market," said Guo.     All the world's main auto markets are in decline except form China. In the first quarter, almost 2.68 million vehicles were sold in China, which marked a 3.88 percent increase year on year.     However, not all foreign auto brands revived under Chinese management. In February, a Seoul court granted Ssangyong Motor bankruptcy protection. SAIC was deprived of management control despite its 51 percent ownership.     "Declining asset prices amid the financial crisis do not always mean a good bargain for the buyer," said Zhang Zhiyong, the chief adviser on auto market with Mingyuan Consultancy in Beijing, "a Chinese automaker should choose a foreign brand with conforming strategy and similar culture for possible acquisition."     The fuel-hungry brawny Hummer also pose new challenges for Tengzhong to control cost and boost competitiveness after takeover. Statistics from local vehicle management section showed that Hummer vehicles are only owned by about 10 people in Sichuan's capital Chengdu currently.     "We will be investing in the Hummer brand and its research and development capabilities," said Yang Yi in a Tuesday statement, " which will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles."  (Xinhua reporters Yan Sanjun, Guo Xin, Cheng Xie and Chen Kai also contributed to this story)

BEIJING, July 14 (Xinhua) -- China's armed forces are raising the qualification and training levels of non-commissioned officers (NCOs) to build a professional corps with the ability to operate increasingly sophisticated weapon systems.     A reform plan unveiled by the Central Military Commission (CMC), China's top military authority, outlines the reforms which will affect the People's Liberation Army (PLA) and People's Armed Police Force (PAPF) by the end of this year.     The number of non-commissioned officers (NCO) in the PLA and PAPF would rise to almost 900,000 while the total number of personnel would remain unchanged, Yang Yangshen, an officer with the PLA's Headquarters of the General Staff, told Xinhua on Tuesday.     He said the rise would be small, but would not give the current number of NCOs.     New NCO posts would be offered to increase the strength of increasingly technology-intensive forces.     The NCOs would be given more responsibility for equipment that needed better proficiency and information skills in addition to assisting commissioned officers with basic training.     According to the plan, the PLA and PAPF would recruit more graduates with three-year college diplomas, who could better understand the operation of modern military weapons systems, rather than promote enlisted personnel.     The PLA and PAPF enlisted personnel are mainly high school graduates who finished 12 years of education.     The modernization of the PLA's weapon systems called for better qualified non-commissioned officers, said Yang.     Currently, the NCOs of the PLA and PAPF are ranked in six categories, starting from the lowest NCO level 1 up to NCO level 6.     According to the plan, the new ranks, from lowest to highest, will be corporal, sergeant, sergeant first class, master sergeant class four, master sergeant class three, master sergeant class two and master sergeant class one.     The reform also introduces a training system by which the new NCOs need to acquire technical qualifications, such as weapons repair and equipment maintenance.     All NCOs who want to be promoted will need to pass upgraded training courses and exams, according to the reform plan.     The plan mandates that the maximum service time for junior grade NCOs (corporal, sergeant) is six years and intermediate grade (sergeant first class, master sergeant class four) is eight years. The senior grade NCOs (master sergeant class three, master sergeant class two, master sergeant class one) could serve for more than 14 years.     It would also increase the basic salaries for intermediate grade NCOs and subsidies for all NCOs.     The PLA and PAPF introduced volunteer recruitment in 1978, which was the original model of the NCO system established in 1998when the revised conscription law reduced the compulsory service period of the enlisted soldiers from three to two years.

MOSCOW, June 4 (Xinhua) -- Russia and China have agreed to establish a cross-border nature reserve to protect Siberian tigers and other endangered animals, local media reported on Thursday.     An agreement on the creation of the nature reserve was signed by Russian Minister of Natural Resources Yury Trutnev and his Chinese counterpart Zhou Shengxian, news reports said, citing the Russian Ministry of Natural Resources.     The Siberian tiger, also known as the Amur tiger, is the largest subspecies of the family with a length of more that three meters and a weight of up to 300 kg. There are only about 500 of them left in the wild.

BEIJING, July 17 (Xinhua) -- Many countries around the world said the July 5 riot in northwest China is an internal affair of the country, and the Chinese government is handling the incident properly.     A spokesman for the Belarusian Foreign Ministry, Andrei Popov, said Xinjiang is an inalienable part of China, and the unrest is a purely internal matter of China.     The riot in Urumqi, the capital of China's Xinjiang Uygur Autonomous Region, left 197 people dead and more than 1,680 injured.     Popov also expressed hope that China could soon restore stability in the region by adopting effective measures in accordance with the law.     He said Belarus expresses its deep sympathy to the people who suffered personal injuries or loss of property during the violence.     A spokesman for Pakistan's Foreign Ministry, Abdul Basit, said his country deplores any attempt to hinder China's progress.     "We deplore any such attempt" which tries to impede the progress which has been achieved by China in the context of social harmony, he said in a recent interview with Xinhua.     "We are committed not to allow any element in Pakistan to work against the interests of China because China's interests are Pakistan's interests. We cannot allow any activity that will damage China's interests," Basit said.     Pakistan's Foreign Ministry, in a statement issued shortly after the Urumqi riot, applauded the efforts of the Chinese leadership to promote the concept of harmony both at home, in Asia and the rest of the world.     Turkish Parliament Speaker Koksal Toptan said his country supports the principle of resolving the issue within the framework of the territorial integrity of China.     The Turkish Foreign Ministry said the country highly values its relations with China and does not intend to interfere in China's internal affairs.     Thailand's Foreign Ministry said on Thursday the July 5 riot is a domestic issue of China and it believs China is capable of stabilizing the situation and restoring peace and harmony in Xinjiang.     Combodia's Ministry of Foreign Affairs and International Cooperation said: "The Chinese government is taking appropriate measures to handle the issue."     The Foreign Ministry of Laos also issued a statement on the July 5 riot. It said Laos believes the measures the Chinese government has adopted to safeguard social stability are necessary and legitimate, and expressed hope the government could bring peace back to the region at an early date.  

来源：资阳报