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HONG KONG, July 4 (Xinhua) -- The Bank of China (Hong Kong) Limited (BOCHK), the sole Renminbi (RMB) clearing bank in Hong Kong, announced here Saturday that it will launch RMB clearing services for trade settlement starting from Monday.     BOCHK said it had singed a clearing agreement with the People's Bank of China in relation to RMB business, and will invite banks and other financial institutions participating in trade settlement to sign a new clearing and settlement agreement.     On Wednesday, the People's Bank of China and other departments on the mainland jointly announced the "Administrative Rules on Pilot Program of Renminbi Settlement of Cross-Border Trade Transactions", allowing RMB settlement of cross-border trade transactions for the first time.     "The initiation of the Pilot Program is of particular significance. It will increase the source channels and the usage of RMB funds," said He Guangbei, vice chairman and chief executive of BOCHK.     Under the Pilot Program, enterprises will also have greater flexibility in selecting the settlement currency of cross-border trade transactions as well as increasing their capability to hedge exchange risk, minimize costs, and boost the efficiency and profitability of cross-border trade transactions, he said.     BOCHK, as a participating bank of RMB business, will take the lead in launching a wide spectrum of RMB trade settlement and finance services for its corporate customers to conduct RMB- denominated trade transactions such as remittances, collections and L/C services between Hong Kong and Shanghai, Shenzhen, Guangzhou, Dongguan and Zhuhai, said the vice chairman.

BEIJING, July 1 (Xinhua) -- The Purchasing Managers' Index (PMI) of China's manufacturing sector stood at 53.2 percent in June, the China Federation of Logistics and Purchasing (CFLP) said Wednesday.     The figure was up 0.1 percentage points from May, when the index fell 0.4 percentage points from the previous month.     A reading of above 50 suggests expansion, while below 50 indicates contraction.     The PMI includes a package of indices that measure economic performance. The survey, conducted by the National Bureau of Statistics, covers purchasing and supply managers at more than 700 firms across China.     The output index was 57.1 percent, up 0.2 percentage points from a month ago. The new order index fell to 55.5 percent from 56.2 percent in May and 56.6 percent in April.     The purchasing price index climbed 4.7 percentage points to 57.8 percent, the seventh monthly increase since December.

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BEIJING, May 26 (Xinhua) -- China's central government has allocated 270 billion yuan (about 39.7 billion U.S. dollars) for infrastructure investment so far this year, a National Development and Reform Commission (NDRC) official told legislators Tuesday.     That amount is part of a planned total of 367.6 billion yuan in the 2009 central budget.     Adding another 30 billion yuan from last year's budget meant that the country had already allocated 300 billion yuan to infrastructure investment since the fourth quarter of last year, NDRC vice director Mu Hong told legislators.     The NDRC is China's top economic planning body.     Mu made his comments during a session on major public investment projects held by the Standing Committee of the National People's Congress, the top legislature.     The money is also part of the 4-trillion-yuan, two-year stimulus plan announced late last year as the economic downturn deepened.

SHANGHAI, July 12 (Xinhua) -- China Eastern Airlines on late Sunday announced that it will merge Shanghai Airlines through a shares swap and the two will resume stock trading in Shanghai Monday.     Shanghai Airlines will exchange one of its A shares for 1.3 shares of China Eastern after the former's shareholders are given a 25 percent risk premium, the latter said in a statement filed to the Shanghai Stock Exchange.     Shanghai Airlines Chairman Zhou Chi said on June 30 that the transfer of shares will take about four to five months.     Liu Jiangbo, spokesman of the working team overseeing tie-up affairs, said Shanghai Airlines will become a wholly-owned subsidiary of China Eastern and retain its brand and independent operation.     Liu told Xinhua that the merger has entered a concrete stage after the announcement of the detailed merger plan.     This is a major step to promote the consolidation of regional airlines and to facilitate building Shanghai into an international air and shipping hub, he said.     The merger will give China Eastern, one of China's three state-owned airlines, about 50 percent market share in Shanghai.     China Eastern reported a net loss of 13.9 billion yuan in 2008 because of weak travel demand in the economic downturn and wrong-way bets on fuel prices.     China Eastern and Shanghai Airlines shares have been suspended from trading since June 8 while waiting for the merger talks. China Eastern last closed at 5.33 yuan and Shanghai Airlines closed at 5.92 yuan.     China Eastern is listed in Hong Kong and Shanghai and Shanghai Airlines is listed in Shanghai.

BEIJING, May 12 (Xinhua) -- A senior Chinese official has called on discipline chiefs of the Communist Party of China (CPC) at all levels to take the initiative of being self-regulatory and clean-handed.     He Guoqiang, secretary of the CPC Central Commission for Discipline Inspection, made the remark when meeting the Party's discipline chiefs at county level in Beijing on Tuesday.     He, also a member of the Standing Committee of the CPC Central Committee Political Bureau, attached great importance to county-level discipline organs comprising the Party's discipline and inspection system.     The official called on the chiefs to conduct a determined and uncompromising fight against all corrupted officials and behaviors to defend the people's interests.     He urged Party committees and governments at all levels to improve the financial conditions, equipment and facilities of the county-level discipline organs for a better anti-corruption performance with the discipline inspectors.     More than 2,000 secretaries of discipline organs at county level throughout the country have been gathered in Beijing to attend a focused training course, the first of its kind in the history of the CPC's discipline work.     The training course, held in Party School of the CPC Central Committee, National School of Administration and training center of Supervision Ministry, has been aimed at improving their abilities to fight against corruption as well as maintain social stability.

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BEIJING, April 21 (Xinhua) -- China and Albania issued a joint statement here Tuesday in which they said they would boost their traditional friendship and bilateral cooperation in all fields.     The statement was issued after official talks between Chinese Premier Wen Jiabao and his Albanian counterpart Sali Berisha in the Great Hall of the People during the afternoon.     The two countries vowed to increase mutual investment, encourage more business contacts and promote a balanced development of trade ties, the statement said.     China would support its competitive companies to invest in Albania and participate in the country's infrastructure construction, energy and mine exploitation, it said. Albania said it appreciated China's aid for its economic development. Chinese Premier Wen Jiabao (R) shakes hands with Albanian Prime Minister Sali Berisha during a welcoming ceremony in honor of Berisha at the Great Hall of the People in Beijing, capital of China, April 21, 2009    The two countries pledged to strengthen dialogue at various levels and increase exchanges and cooperation between governments, parliaments and political parties, according to the statement.     They would expand cooperation in tourism, agriculture, public health, technology, culture and education, and encourage more exchanges among their local governments and non-governmental groups.     According to the statement, Albania reiterated its adherence to the one-China policy. It acknowledged there is only one China in the world and the government of the People's Republic of China (PRC) is the sole legal government representing the whole China and Taiwan is an inalienable part of China. Chinese Premier Wen Jiabao (2nd L) holds talks with Albanian Prime Minister Sali Berisha (2nd R) at the Great Hall of the People in Beijing, capital of China, April 21, 2009. Albania opposes Taiwan joining international organizations that are only open to sovereign nations and is against "Taiwan independence" secessionist activities in any form, the statement said. Albania also promised not to establish official ties and not to have official contact with the Taiwan authority. China highly appreciated the stance of the country, the statement said.     In face of the global financial crisis, the two countries called on the international community to enhance financial supervision cooperation, fight trade protectionism and reduce the damage of the crisis to developing countries.     China respected the Albanian people's choice of a development path in line with their domestic situation and understood their efforts to join the European integration process, the statement said.     The two countries agreed to abide by the principles of the UN Charter, and support the UN's leading role in safeguarding international security, promoting common development and peacefully solving international disputes.     Both sides proposed to strengthen the function and authority of the UN and UN Security Council and agreed to increase cooperation in the United Nations and other international organizations, the statement said.     The international community should work together to combat terrorism, and the two nations agreed to respect each other's security concerns.     Albania spoke highly of China's achievements since the founding of the PRC 60 years ago and appreciated China's contributions to world peace and development.     Both sides applauded their remarkable cooperation in various areas, and agreed to hold activities to celebrate the 60th anniversary of bilateral ties, the statement said.

SALZBURG, Austria, May 17 (Xinhua) -- Top Chinese legislator Wu Bangguo said here Sunday that exchanges between local regions of China and Austria constitute an important part of bilateral relations.     Wu made the remarks when meeting with Simon Illmer, president of the parliament of the Salzburg Province of Austria.     Wu, who is the first chairman of the Standing Committee of China's National People's Congress (NPC) to visit Austria since 1994, arrived in Salzburg from Vienna on Sunday morning, continuing his official goodwill visit to the country.     Wu said Salzburg has attracted more and more Chinese tourists with its many cultural relics and beautiful natural scenes. He said China treasures its friendly cooperation with Salzburg, hoping that both sides should create a new mode for and further substantiate their cooperation.     Noting China is an important trade partner of Salzburg, Illmer said he believed Wu's visit will promote cooperation in such fields as investment, environmental protection and tourism. Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Simon Illmer, president of the parliament of Salzburg Province of Austria, in Salzburg May 17, 2009    More than 50 Salzburg companies have invested in China, notably among them is Porsche AG. Salzburg has set up a Chinese Affair Office while forging friendly relations with Hainan Province, Shanghai City and Heilongjiang Province in China.     Wu said Salzburg plays an important and unique role in China-Austria relations.     Before flying to Salzburg, Wu met with Harald Reisenberger, president of the Austrian Federal Council, in Vienna on Saturday. During the meeting, Wu said that both sides should treasure the current momentum of sound development in bilateral links.     Reisenberger said the strong growth of the Chinese economy has brought vigor and confidence to the international community including Austria. He expressed the wish to further enhance friendly relations with China by deepening mutually beneficial cooperation and exchanges in such areas as trade, investment, high and new technology, culture, arts, science and education.     Reisenberger said members of parliament from all parts of Austria wish to strengthen cooperation with China's National People's Congress (NPC) to enhance people-to-people friendship, promote exchanges between local authorities and contribute to the development of trade and economic cooperation between the two countries.     Wu said parliamentary exchanges form an important part of China-Austria relations. He said the NPC and Austrian parliament have maintained close exchange and cooperation, helped enhance the friendly relations between both sides. He hopes that the two sides should carry on this tradition by pushing forward exchanges between political parties, local governments and peoples of the two countries. The two sides should promote practical cooperation in all fields so as to add new impetus to bilateral relations.     Wu also reiterated China's principled stance on Tibet-related issues, stressing that this is the political basis to advance China-Austria relations. He hopes that Austria continues to support China on issues concerning China's sovereignty and territorial integrity.     Reisenberger reaffirmed that Austria will firmly adhere to the one-China policy.     During his stay in Vienna, Wu also visited the Vienna high-tech zone.

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SHIJIAZHUANG, July 6 (Xinhua) -- Chinese top political advisor Jia Qinglin Monday encouraged private companies to go "green" by developing new energy and energy-saving technologies.     In a one-day inspection tour to Langfang city of central China's Hebei Province, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), visited the XinAo Group, a local private company specialized in research and development of renewable energy and new energy. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009. When talking with the staff of the company, Jia said new energy and energy-saving industries would not only serve as an effective stimulus for the country's economic recovery, but were also of great potential and importance to future development.     "Developing a green economy has been widely recognized by the world. Private companies can play an important role in the development of new energy and the environment-friendly and energy-saving industries," Jia said. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009. He noted that China's private companies were faced with both challenges and opportunities amid the current global financial crisis, and urged them to boost research, development and trade of energy-saving products and technologies.     "In this way, the private business can create new market demand and more job opportunities," he said. Jia Qinglin (2nd R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009. He also urged local governments and relevant trade organizations to fully recognize the important role private business played in the national economy, and give favorable policies to help them prosper.     The private companies, on the other hand, should make use of the opportunities at hand, and increase their exports and improve their competitiveness in the international market, he said. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009.

L'AQUILA, July 9 (Xinhua) -- U.S. President Barack Obama said on Thursday that he was looking forward to visiting China later this year.     Obama made the remarks when meeting with Chinese State Councilor Dai Bingguo, who was here to attend the leaders' meeting of the Group of Eight (G8) and five leading emerging economies (G5) on behalf of Chinese President Hu Jintao.     During the meeting, Obama said the U.S. side attached importance to the U.S.-China relations, and he hoped that the upcoming U.S.-China Strategic and Economic Dialogue could generate fruitful results, according to a press release issued by the Chinese delegation.     It is important for the United States and China to enhance cooperation on major international issues, Obama said, adding that it benefits both countries and both people.     The two also exchanged views on bilateral relations and other major international and regional issues, said the press release.     Dai conveyed Hu's greetings to Obama while Obama asked Dai to pass on his greetings and good wishes to Hu.     Hu cut short his stay in Italy and skipped the G8 meeting due to the situation in China's Xinjiang Uygur Autonomous Region. He returned to Beijing Wednesday.