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BEIJING, Jan. 23 (Xinhua) -- The Bank of China (BOC) board has agreed to sell up to 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The proposal will be turned into the first temporary shareholders' meeting in 2010, which will be held on March 19, for approval.Excluding issuance costs, the proceeds from the issuance of the six-year convertible bonds will be used to replenish the bank's capital base and working capital and to lift its capital adequacy ratio, according to the BOC, the third largest lender by market value in China.The BOC has been implementing positive financial policies and relatively loose monetary policies since 2009.The BOC capital adequacy ratio stood at 11.63 percent and the core capital adequacy ratio at 9.37 percent by the end of September 2009.

BEIJING, March 4 (Xinhua) -- The 11th Panchen Lama has made debut in China's political arena as a political advisor at the ongoing annual session of the National Committee of Chinese People's Political Consultative Conference (CPPCC) in Beijing."This is the first time for me to attend the CPPCC meeting as a new member, so I will learn from other members," he told Xinhua while joining a panel discussion of the religious circle of the CPPCC National Committee Thursday.A day earlier, he attended the opening meeting of the Third Session of the 11th CPPCC National Committee, the country's top political advisory body.During the two-hour panel discussion from 9 a.m. to 11 a.m. Thursday, he took notes from time to time when other members spoke and sometimes exchanged a few words with others around him, but he did not take the floor.During the break of the panel discussion, many other members came to chat, take photos and shake hands with him, and he kept smiling in a amicable manner."I have shouldered the mission of safeguarding national unity and ethnic solidarity since I was enthroned (in 1995). Now, such a sense of responsibility is becoming even stronger," he told Xinhua.Tenpai Nyima, a CPPCC member from Tibet's Nyingchi Prefecture, said he felt very delighted to see the appearance of the 11th Panchen Lama, although he did not speak at the panel discussion."He is an outstanding leader of Tibetan Buddhism as well as our glory and pride," he said.The 11th Panchen Lama, Bainqen Erdini Qoigyijabu, one of the two most senior living Buddhas in Tibetan Buddhism, became a CPPCC member on Feb. 28. Earlier on Feb. 3, he was elected vice president of the Buddhist Association of China."Although he is young, he is mature and diligent, and he has increasingly profound Buddhist attainments and a growing popularity in Tibetan-inhabited regions," said Padma, a CPPCC member from northwestern Qinghai Province."I believe he can carry forward the fine tradition of the 10th Panchen Lama in loving the nation, the religion and the people, and in safeguarding the national unity and ethnic solidarity," he said.The 11th Panchen Lama, with the secular name Gyaincain Norbu, was born in February 1990 in Lhari County, in northern Tibet's Nagqu Prefecture.He was approved by the central government as the reincarnation of the 10th Panchen Lama in November 1995 after a lot-drawing ceremony among three candidates in the Jokhang Temple in Lhasa.Over the past years, he has given head-touching blesses to hundreds of thousands of believers, and ardently participated in public welfare activities.After the deadly riot broke out in the Tibet's regional capital of Lhasa on March 14, 2008, he strongly condemned the violence, saying that it ran counter to Buddhist tenets.He also presided over a prayer meeting in Beijing on May 21, 2008, in which he prayed for peace in Wenchuan in southwestern Sichuan Province and neighboring areas struck by an 8-magnitude on May 12.On March 28, 2009, he unexpectedly delivered a speech in English at the opening ceremony of the Second World Buddhist Forum in Wuxi City of eastern Jiangsu Province, winning applause and appreciation.In the speech, he used Buddhist sutras to give enlightenment to believers about how to deal with various threats facing modern society -- such as environmental degradation, wealth gap, financial crisis, terrorist attacks, and taught believers to do more deeds beneficial to others."He is very bright and becoming more and more knowledgeable. I believe he is capable of further promoting Buddhism," said Shingtsa Tenzinchodrak, a living Buddha from Tibet's Shannan Prefecture, also a deputy to the National People's Congress, the country's top legislature.To Kelsang Drokar, a villager from the Tarma Village in the suburbs of Lhasa, 11th Panchen Lama's new position as a CPPCC member made him and his fellow villagers very happy."We hope he can bring more blessings and benefits to our people of Tibetan ethnic group," he said.

ADDIS ABABA, Jan. 29 (Xinhua) - The Chinese government attaches great importance to cooperation with Africa in the Information and Communication Technologies (ICTs) sector, Chinese Envoy and Deputy Foreign Minister Zhai Jun said in a recent interview with Xinhua.The Chinese department in charge of information and communication will strengthen communication and cooperation with their African counterparts and establish consultation mechanisms, Zhai said.Meanwhile, the Chinese government will support capable enterprises to open business in Africa, in a bid to make contribution to African countries' economic development and promote modernization of communication in the continent, he said.The cooperation between China and Africa in the ICTs sector has played an active role in advancing Africa's overall communication level, promoting the continent's economic development, and bridging the "digital gap" between Africa and the rest of the world, the Chinese envoy said.Thanks to the efforts made in the past 10 years, communication facilities produced by Chinese enterprises have gained certain market share in Africa, and Chinese brands have won their renown in the African market, Zhai said.Products and services by Chinese communication facility enterprises such as ZTE and Huawei have covered 50 African countries, providing communication services for more than 300 million people, Zhai said.Meanwhile, more than 40 3G networks have been established in over 30 African countries with regional offices of Chinese communication facility enterprises scattering in 48 African countries while regional research and development centers and personnel training centers have also been established in the continent, he noted.Moreover, ICTs cooperation between the two sides have also helped generate employment, promote technology transfer and improve people's livelihood in Africa, said the minister.In Africa, Chinese enterprises pay special attention to employing local employees, who now account for over 60 percent of the total number of staff, Zhai said, adding that Chinese enterprises train more than 20,000 technical personnel for Africa every year.Chinese enterprises also do their best to make local procurement, Zhai said, noting that Huawei alone has made a 480- million-U.S. dollar procurement in African in 2008.At the same time, Chinese enterprises actively carry out social responsibilities in Africa by funding schools, hospitals and wildlife conservation, which are applauded extensively by African governments and people, according to him.Zhai arrived in the Ethiopian capital Addis Ababa Wednesday to attend as an observer the 14th African Union (AU) summit scheduled from Sunday to Tuesday.Under the theme "Information and Communication Technologies in Africa: Challenges and Prospects for Development," leaders from AU member states will assess the achievement made in Africa in the ICTs sector, while discussing opportunities, challenges and prospects of the sector's development.During the summit, participants are also expected to exchange views on issues including regional integration, climate change, Africa's stance on UN reforms and regional conflicts, among others.

BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao on Friday reiterated determination to curb the excessive growth of home prices in major cities and satisfy people's basic need for housing.He made the pledge while delivering a government work report to the Third Session of the 11th National People's Congress(NPC), China's top legislature, which is the latest demonstration of the government's determination to tame the runaway home prices.Driven by record bank lending and favorable tax breaks, China saw a sharp residential property price hike nationwide in the past year, triggering heated public complaints and fears of possible assets bubble.China's home prices in 70 large- and medium-sized cities, a housing price trend barometer, climbed 9.5 percent in January 2010 from a year earlier, the fastest growth in 19 months. Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010Wen promised an increased supply of low-cost housing and common residential houses, restraining of speculative purchase, tighter land use management and stricter control of bank credit.A total of 63.2 billion yuan (9.25 billion U.S.dollars) will be spent by the central government in low-income housing in 2010, an increase of 8.1 billion yuan, or 14.7 percent over last year, Wen said.The government will also build 3 million housing units for low-income families and renovate 2.8 million shanty units, he said.Wen's remarks indicate the government's regulation target in the real estate sector this year, which will emphasize on satisfying demand of mid- and low-income families while ensuring a healthy development of the market, said Gu Yunchang, vice president of China Real Estate Research Association."To curb the excessive growth of home prices is a must for the healthy development, or else the foaming market would bring destructive consequences to the industry," said Gu.China's central and local governments has begun to take moves to deflate the housing bubble since late last year, including reimposing a sales tax on homes sold within five years of their purchase and raising down payment requirement for families buying a second or more houses with bank loans.In another move to cool the property market, the People's Bank of China, the central bank, announced twice within a month to raise the deposit reserve requirement ratio earlier this year.During an online chat with the Chinese Internet users last week, Wen expressed his confidence in the government measures in response to complaints over soaring home prices."It is the government's responsibility to guide the property market. I am confident that the government will ensure the healthy development of the property market," he said.

SANYA, Hainan, March 21 (Xinhua) -- A senior Chinese official said here Sunday more efforts should be made to further integrate tourism and culture so as to achieve greater development of the industries.Liu Yunshan, a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks at the 2010 Boao International Tourism Forum in Sanya, a tourist resort in south China's Hainan Province.Global tourism was experiencing drastic adjustment along with the world economy's profound changes, while connections between tourism and culture had been increasing, he said.Integrated development of the two industries was an inevitable demand of the times when economic development came to a certain level, which offered huge potential for the tourism industry, said Liu.It was important to stick to opening-up and cooperation in promoting the tourism and culture industries, Liu said."The Chinese government has made the decision to build Hainan into an international tourism island, which demands more efforts to further expand opening-up and explore integration of tourism and culture, making Hainan a key platform for economic cooperation and cultural exchanges between China and foreign countries," Liu said.The two-day forum, under the theme of "transformation of tourism and cultural industries in the aftermath of the global economic crisis," attracted delegates from more than 50 countries and regions, as well as executives of world tourism organizations such as the United Nations World Tourism Organization and the World Travel and Tourism Council.

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