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WASHINGTON, April 27 (Xinhua) -- Chinese Commerce Minister Chen Deming has called for stronger economic ties between China and the United States.     "Economic links have always been an important basis for the China-U.S. relationship, and the growth in trade between the two countries has been robust since the establishment of normal diplomatic relations," Chen wrote in an article published in The Wall Street Journal on Monday.     Currently, China and the U.S. are each other's second-largest trading partner with the volume of the two-way trade in goods exceeding 300 billion U.S. dollars.     But the commercial ties between the two nations have been affected by the global financial crisis.     Chinese statistics show bilateral trade dropped 6.8 percent, and U.S. investment in China slumped 19.4 percent, on a year-on-year basis in the fourth quarter of last year and the first quarter of this year, Chen wrote.     He was scheduled to meet with his U.S. counterpart on Monday to discuss bilateral trade and investment measures.     "History tells us that the more serious a crisis becomes, the more committed we must be to openness and cooperation," Chen wrote. "Regrettably, however, trade measures by the U.S. against China are on the rise."     Recently, American industries have petitioned the U.S. government for antidumping investigations, and for investigations under the World Trade Organization's "special safeguard provision," which could restrict imports of Chinese products, he said.     "This will seriously test China-U.S. economic and trade relations," he added.     The Chinese commerce minister noted that the need to foster positive Sino-U.S. ties has never been greater.     He also called on both sides to step up cooperation in trade and investment issues, and explore and establish new possibilities for cooperation in such areas as agriculture, new and high technology, finance, energy and the environment.     "Dialogue and communication also need to be intensified concerning multilateral and regional trade and economic affairs," he said.     To that end, Chen put forth four proposals:     -- To seize the opportunity for cooperation, and work together to tackle the crisis;     -- To mutually open markets to expand trade and investment;     -- To strengthen bilateral dialogue and resolve differences properly;     -- To safeguard the environment for trade and advance the Doha Round.     Chen also said now it's no time for protectionism.     The U.S. and China, as the largest and the third-largest trading countries in the world respectively, should take the lead in following up the consensus reached at the G20 Summit in London and refrain from formulating any new trade protection policies before the end of 2010, he wrote.     "A positive, cooperative and comprehensive Sino-American relationship will surely bring new prosperity and development to both economies," he added.     In his article, he also expressed hope and confidence that bilateral trade would rise to a new high and exceed 500 billion U.S. dollars in the next five years, growing in a more balanced way.

SHANGHAI, June 3 (Xinhua) -- Standard Chartered Bank (China) Limited announced Wednesday that it plans to issue 3.5 billion yuan (512 million U.S.dollars) financial bonds in China, the first foreign bank to issue Renminbi bonds in the Chinese mainland.     The announcement was made in the wake of a circular released by the State Council in April on building Shanghai into an international financial center and shipping hub.     The municipal government of Shanghai convened a working meeting late last month on preparation for the financial center goal, promising to support foreign banks to issue yuan-denominated bonds.     "As China's financial market continues to liberalize, Standard Chartered is seeing a number of opportunities for our business," said Peter Sands, Group Chief Executive of Standard Chartered Bank, during his visit to Beijing this week.     The issuance is expected to help elevate the Renminbi's status as an international reserve currency, develop local capital markets, and contribute towards Shanghai's development as a global financial center, said Sands.     Standard Chartered Group reported 26 percent income growth in 2008, or 13.97 billion U.S. dollars despite the difficult global economic environment.     In China, the bank has grown by an average annual compounded growth rate of 80 percent over the past four years.     Standard Chartered Bank is China's oldest foreign bank enjoying150 years of history. It is among the first batch of locally-incorporated foreign banks and has one of the largest foreign bank networks operating in China.

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.

BEIJING, July 10 (Xinhua) -- China's Ministry of Finance (MOF) announced Friday that it will launch two more batches of electronic savings bonds of up to 50 billion yuan (7.32 billion U.S. dollars) since next week.     According to the ministry, one batch of the e-savings bonds of 40 billion yuan has a term of three years, with a fixed annual interest rate of 3.73 percent.     The other, the five-year e-savings bonds, is worth 10 billion yuan at a fixed annual interest rate of four percent.     The two bonds will be issued from July 15 to 31, with interests to be calculated from July 15 and paid annually, said the ministry in a statement on its website.     These bonds are open to only individual investors, the MOF said.     Compared with other types of bonds, the e-savings bond is seen as more convenient for investors. For example, the interest can bepaid through direct deposit into the investor's account.     This is the second time the ministry launches this kind of bond this year, with the first issuance of two batches of e-savings bonds in April.     The ministry also said it would issue two batches of book-entry treasury bonds next week with a face value of 12.48 billion yuan and 12.65 billion yuan each.     One with the face value of 12.48 billion yuan has a term of 91 days, and the issue price, set by competitive bidding, was 99.72 yuan for a face value of 100 yuan. In this sense, the annual yield will be 1.15 percent, the ministry said.     The other has a term of 273 days, and the issue price was set at 99.077 yuan for 100 yuan, with an annual yield of 1.25 percent.     The ministry said the book-entry T-bonds will be sold from July 13 to July 15. Trading of the bonds will begin July 17.

BEICHUAN, Sichuan, April 26 (Xinhua) -- Bride Deng Ling supported a sapling upright while her sweetheart Li Jun bowed to spade earth into the pit carefully, expecting happiness in their coming marriage life.     With tears running down her face, 38-year-old Deng made a wish: "We plant the sapling and hope it will bring fruit and happiness to us." Twenty new couples attend a group wedding at the Jina Qiang Ethnic Minority Village of Beichuan County, southwest China's Sichuan Province, April 26, 2009Deng and Li were among the 40 people who lost their spouses in the May 12 earthquake last year. They tied the knot at a group wedding on Sunday in the worst hit Beichuan County in China's southwestern Sichuan Province.     The wedding service, funded by the local government, was held in accordance with the folk customs of the Qiang ethnic group in Beichuan. The county lost two-thirds of its population in the quake. Bride Zhang Li and bridegroom Tang Jiyao drink at the Jina Qiang Ethnic Minority Village of Beichuan County, southwest China's Sichuan Province, April 26, 2009. Twenty new couples held group wedding here on SundayThe magnitude-8.0 quake hit southwest China, including most parts of Sichuan, and killed more than 69,000 people. It also left nearly 18,000 missing, more than 374,000 injured and millions homeless.     On Sunday, the 20 couples planted 20 trees at the wedding ceremony to appreciate the caring from others and expect happiness in their own life, according to the wedding organizer.     A gun salute was included in the ceremony to express the Qiang people's hospitality and their blessings to the new couples, said Chen Xingchun, Communist Party chief of Beichuan, the country's only Qiang autonomous county. Twenty new couples parade as they hold group wedding at the Jina Qiang Ethnic Minority Village of Beichuan County, southwest China's Sichuan Province, April 26, 2009. Twenty new couples held group wedding here on Sunday. Tang Jirao, another bridegroom, held fast to the hands of Zhang Li, his bride, in the 30-minute wedding ceremony.     "It's a bit cold today, and his hands are warm," Zhang explained with a shy smile.     Having lost his wife in the earthquake, Tang was introduced to Zhang Li, a primary school teacher, in October 2008.     At the first sight of Tang, Zhang found her liked the man. A new couple is surrounded by journalists at the Jina Qiang Ethnic Minority Village of Beichuan County, southwest China's Sichuan Province, April 26, 2009. Twenty new couples held group wedding here on Sunday"He gave me the feeling that he was reliable, though he spoke little," said Zhang.     Like many other who lost their family members, Tang was reluctant to think of the past.     "I was afraid to stay alone, and I kept myself busy so that I would be exhausted and fall asleep," said Tang, deputy head of Leigu Town. Bridegroom Tang Zhiguo (R) and his bride walk to attend wedding at the Jina Qiang Ethnic Minority Village of Beichuan County, southwest China's Sichuan Province, April 26, 2009. Twenty new couples held group wedding here on Sunday"I even thought that my life would be ending that way," said the 51-year-old man, "till I was introduced to Zhang Li by my family members."     According to the Qiang custom, new couples should sing love ballads at the wedding ceremony, and shelled corns and millets will be spread on the crowds, which is believed to bring fortune to the new couples.     Bridegroom Yang Changbin pulled his wife Zhou Xiaohong out of the crowd, and found her a seat.     "I was a cab driver, and now stay at home and take care of Zhou. She was hurt in the waist in the quake," said Yang.     "I will return to work as she turns better, and she will start a small business like a canteen."     Leaning her head on Yang's shoulder, Zhou said: "We plan to have a baby, so we can have a real home."     Yang's face beamed with broad smile. "Today is the most important day for me after the quake, also a happy start in the rest of my life."