19th December 2011

Monday

Dec192011

The Lion Awakes

Daily News, Culture & Current Affairs about China

Today's News Summary

China’s foreign policy not a matter of tough vs. soft

At a foreign policy seminar in Beijing yesterday, Assistant Foreign Minister Le Yucheng pointed out that the international community, especially certain Western countries, has been complaining about China being "increasingly assertive." At the same time within the country, public opinion has been labeling Chinese foreign policy as "too soft."

Trade, exchange rate frictions to challenge China's economic diplomacy next year: experts

BEIJING, Dec. 18 (Xinhua) -- China's economic diplomacy will face growing challenges in the form of trade and exchange rate disputes, as well as the task of protecting overseas investment interests, over the next few years, experts said on Sunday.

Beijing reaches annual 'blue sky days' target

BEIJING - As of Sunday, Beijing has enjoyed 274 days of "blue sky" in 2011, fulfilling its annual target ahead of schedule, an official with Beijing's Municipal Environmental Protection Bureau said Sunday.

US 'should play constructive role in region'

BEIJING - China does not intend, nor is it able, to squeeze the US out of the Asia-Pacific region, which is big enough for both to coexist and cooperate, a senior diplomat said during a review of the diplomatic year.

China hopes the US can play a constructive role and respect China' s core interests in the Asia-Pacific region, assistant Foreign Minister Le Yucheng said during the 2011 Review and Outlook diplomatic seminar held by the China Foreign Affairs University in Beijing on Sunday.

Foreign Head of Chinese Bank Sees Need for Efficiency

Richard Jackson, one of the few non-Chinese nationals to have served in top management in China's state-run banking industry, has an insider's view of the effects of China's policy on business.

China Property Prices Decline

BEIJING—Average property prices in Chinese cities saw a second consecutive monthly drop in November, according to government data released Sunday, in a further sign that Beijing's two-year tightening campaign to cool the red-hot property market is having an impact.

English, Once a Barrier, Opens a Door

By MARGARET HO

Hui Lin, 17, says that despite years of struggling, the experience of learning English has ultimately given her a chance to succeed.

The Battle Over Aviation Emissions

By JAMES KANTER

China and the United States were among two dozen countries calling on Europe to modify or scrap its plans to regulate airline emissions with just weeks to go before the system goes into force.

Graeme's (Ed) Novel just published on Kindle

(If you do not have a Kindle, you can download a free version from here)

Set in Zanzibar in 1910, it is the story of two people from different worlds falling in love. Susan immerses herself in Zanzibar. Asim falls in love with this woman from the nation that killed his wife. Susan is a spy. Asim is the chief advisor to the Sultan of Zanzibar. Germany and France are holding secret negotiations to form a Pan European alliance, which would isolate Britain and destroy her power. Susan and Asim are caught up in all this and their love is finally dashed on the cold, hard reality of international high politics.

People's Daily

China-ASEAN trade increased 36 times in past two decades

BEIJING, Dec. 16 (Xinhua) -- Trade volume between China and the Association of Southeast Asian Nations (ASEAN) in 2010 was 36 times what it was in 1991, the year in which formal relations between the two sides were established, according to new statistics.

Chinese vice premier urges expanding domestic demand, keeping property curbs

BEIJING, Dec. 15 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday called for expanding domestic demand to be given a higher priority amid a grim economic outlook and unwavering restrictions on the property market.

China should boost domestic demand to advance economic restructuring and put restructuring "in a more prominent position" while maintaining economic growth and price stability, Li said during a national symposium on development and reforms.

China aims to establish FTA with Japan and South Korea

China is actively pushing for a proposed free trade agreement (FTA) with Japan and South Korea and hopes the negotiations will start next year, officials said on Thursday.

"China, Japan and South Korea are all important countries in East Asia but with different international divisions of labor. A free trade zone among the three countries, if established as soon as possible, would benefit the economic development of all through developing trade and investment potential in East Asia," said Shen Danyang, the spokesman for China's Ministry of Commerce, at a regular briefing in Beijing on Thursday.

Shen added that a free trade zone would also help economic integration among the three countries.

Jiashao Cross-Sea Bridge under construction in E China

the Jiashao Cross-Sea Bridge under construction in Haining, east China's Zhejiang Province. The Jiashao Cross-Sea Bridge, the second cross-sea bridge in the Hangzhou Bay, is expected to be completed and open to traffic at the end of 2012.

China's oldest couple at 106 and 109

Jin Jifen, 106, and her husband Yang Shengzhong, 109, have a meal at home, Dec 6, 2011. The couple has been recognized as the oldest living couple in the country by the Gerontological Society of China. Living in a village in Southwest China's Guizhou province for more than 100 years, Yang used to be a carpenter and Jin a housewife. They have been married for almost 90 years and the family has five generations. "She has been nice to me my whole life and still cooks for me," said Yang.

3,000 candles for Nanjing victims

Nanjing residents, visitors from Japan and South Korea, and Chinese and Japanese monks, lit 3,000 red candles during an assembly praying for peace last night at the Memorial Hall of the Victims in the Nanjing Massacre in the capital City of Jiangsu Province.

Chinese investments benefit European companies

Chinese enterprises have 70,000 employees in Europe

The first China-E.U. Business Cooperation Forum, also known as the Antwerp Forum, was held in Antwerp, Belgium from Nov. 22 to Nov. 23.

The trade value between China and Europe reached 480 billion U.S. dollars in 2010 and is expected to hit 570 billion U.S. dollars in 2011, said Sun Yongfu, director of the European Affairs Department of the Ministry of Commerce of China, said during the forum. The European Union has beeen China's largest trade partner for seven consecutive years.

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

China Daily

Capital market for returning yuan

Pilot program to allow HK investors to buy mainland stocks using RMB

BEIJING / SHANGHAI - The mainland on Friday launched a pilot program that will allow overseas investors to use offshore yuan deposits to invest in the mainland's capital markets.

Calling it a landmark move, experts said the deregulation will increase the popularity of the currency and expedite its internationalization.

The initial quota of the program, known as the RMB Qualified Foreign Institutional Investor, is 20 billion yuan ($3.1 billion), according to the China Securities Regulatory Commission.

China sets goal for urban unemployment

BEIJING - China aims to keep the unemployment rate among registered city dwellers under 5 percent from 2011 to 2015, according to a statement released on Friday after an executive meeting of the State Council.

During those years, the government aims to create jobs for 45 million people in cities and 40 million unemployed laborers in the countryside.

"Employment pressures will continue to increase in the 12th Five-Year Plan (2011-2015) period," said the statement, citing decisions made at the meeting, which was presided over by Premier Wen Jiabao.

US envoy vows to extend common ground with Beijing

BEIJING - US special representative on Korean policy Glyn Davies said he is looking forward to upcoming meetings with senior Chinese diplomats and will extend common ground between the two sides.

US special representative on Korean policy Glyn Davies speaks to the media in Beijing on Tuesday. During his three-day stay in Beijing, Davies is scheduled to meet with Chinese diplomats, including Foreign Minister Yang Jiechi, to discuss issues related to the Democratic People's Republic of Korea.

Putting high-speed travel back on track

Experts call for reforms as ministry looks to restore confidence in rail network. Xin Dingding reports in Beijing.

China's bullet-train ambitions hit a number of snags in 2011 and ultimately slowed down. It was not what the Ministry of Railways had pictured.

Last December, when China became the first Asian nation to host a global high-speed rail summit, Liu Zhijun, the country's railways minister at the time, said China had 7,531 kilometers of railways running at 200 km/h and faster, including 4,322 km of newly laid track.

More than 10,000 km of high-speed railways were also being rolled out across the country, he said, with the majority set to open to public in 2013. By 2020, China's high-speed network would increase by 16,000 km, he said.

Planting roots in Shanghai

Three Gorges Dam project migrants were advised to 'relocate first, live steadily and then get rich'. And this is what they are doing. Qu Yingpu and Xu Xiaomin report.

Xu Jibo was full of apprehension in 2000 when he was moved from his ancestral home in Chongqing municipality to make way for the huge Three Gorges Dam project. He was 40 at the time.

Behind the brands

A survey confirms China's luxury goods buyers are young and keen on pampering themselves.

Lu Jing is 22 and works at a Shanghai-based advertising agency. She earns less than 6,000 yuan ($943) a month but is the proud owner of a 20,000 yuan Louis Vuitton (LV) bag. She says she lived on instant noodles and took buses instead of the subway to save 5-yuan a day in order to buy her dream bag. Lu's American colleague, Niki Anderson, who has been interning in Shanghai for the last four months, notes that almost every young woman in her office owns a brand name bag - but thinks brands like LV are old-fashioned. Anderson's observation reflects a point highlighted in the 2011 China Luxury Forecast, a survey mainly examining China's "post-1980 generation" luxury consumers, predicting future trends for China's prestige market.

See Kaixin's - 10 Status Symbols in contemporary China

Rural banks lend hand to farmers

Less-developed areas offer huge opportunities for small lenders, Wang Xiaotian reports from Hubei, Chongqing and Shandong.

When Hu Jizheng wanted to upgrade the facilities on his pig farm, he decided to do something unique.

Get a loan from a bank.

"In the past we used to borrow from relatives and friends," said the 48-year-old, who is raising more than 4,000 pigs on his farm in Hubei province.

A rural bank nearby, however, was offering money at an interest rate of 8.6 percent - less than he would pay elsewhere. So in April he borrowed 2 million yuan ($314,000) and expects the revamping of his equipment and purchase of a methane tank will bring his annual revenue to more than 15 million yuan.

"I never imagined a bank could lend me so much money at such a cheap rate."

He had earlier visited all traditional major lenders in the area. They all rejected him.

"To my surprise, unlike common banks, the working style of this rural bank is surprisingly good," Hu said. "Surely it's time for me to change my outlook and turn to rural banks for capital instead of private lenders."

Here comes the money: This farmer got the first loan from a village bank in Guangan, Sichuan province, after it opened last Dec 18. Rural banks have helped support small-business owners and farmers in underserved areas.

Kaixin OpEd - I still don't think the 'west' realises the economic potential that is unlocked in rural china.

Beijing blackout as air quality is unmasked

They say a picture speaks a thousand words. This is a photo of China's capital taken from the exact same spot over the last four days. The combination image, taken from Dec 2 to 5, captures staggering changes in the air quality in Beijing. The photos show the visibility in the area ranging from Central Business District in Chaoyang District to Communication University of China. A photographer consecutively took photos at this same place for two weeks from Nov 22 to Dec 5 to record the "fog" in this area. The recent frequent "fog" blanketing Beijing has spurred the public to call for a revamp of the air pollution regulations in China, in particular the decision to monitor levels of ultra-fine particles known as particulate matter 2.5 (PM2.5) which is deemed by some experts as the major cause of the choking smog.

Share your China stories!

The China Daily website is inviting foreign readers to share their China stories with our worldwide audience. Please send your story with your contact information to mychinastory@chinadaily.com.cn. Photos of the author or the story are also welcome.

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

XinHua News

Top political advisor urges deeper mainland-Taiwan exchanges

BEIJING, Dec. 16 (Xinhua) -- A senior official of the Communist Party of China (CPC) has called for more economic and cultural exchanges between the Chinese mainland and Taiwan and denounced "Taiwan independence" as a huge risk for the peace of the Taiwan Strait.

China vows to make South China Sea safe

HAIKOU, Dec. 15 (Xinhua) -- China expects friendly cooperation with the Association of Southeast Asian Nations (ASEAN) to make the South China Sea safe, a Foreign Ministry official said Thursday.

Assistant Foreign Minister Liu Zhenmin made the remarks during an international seminar on implementing the Declaration on Conduct of Parties in the South China Sea (DOC) and maintaining the navigational freedom and security of the sea.

China Int'l Environmental Protection Expo opens in Jiangsu

NANJING, Nov. 25 (Xinhua) -- The 2011 China International Environmental Protection Expo opened in east China's Jiangsu Province Friday, attracting more than 240 enterprises from home and abroad.

The most advanced environmental protection technology and products from around the world will be showcased at the expo held in the provincial capital of Nanjing.

China will invest a total of 3 trillion yuan (470 billion U.S.dollars) in its environmental protection industry during the country's 12th Five-Year Plan period (2011-2015).

Biz China Weekly

Global Times

Real names on Weibo points to progress

The Beijing municipal government on Friday issued new rules to demand Weibo users register their real names before being allowed to post. This is an opportunity to establish a high-quality public opinion environment for online expression. Microblog operators and administrators should carefully implement these new rules to make Weibo a more serious and powerful means for communication. Otherwise, the culture of open expression formed on Weibo will come to nothing.

After the release of the new rules, some expressed their support for the new regulations while some opposed them. There are worries concerning whether the freedom of expression on Weibo will be restrained or whether public opinion online will lose its vitality.

In China, online criticism seems to be rampant and unscrupulous, but most of it is expressed anonymously. Critics who are brave enough to identify themselves are few in number. People worry that they will be hounded if they express criticism. It is hard to say whether this perception outstrips the truth, but one certainty is that those who were exposed will have a more difficult time exacting revenge.

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

CHINA

CCTV 9

News and Current Affairs

Live phoner: Brain drain´s impact of China

For more analysis on international migrants, let’s talk to Raymond Zhou, a senior columnist from Chi...
Rich Chinese look to emigrate

Over the past three decades, China’s economic reforms have created a significant number of millionai...
Improving welfare of low income groups be priority of 2012

Despite the advances made by China over recent years, a large proportion of the population remain on...

Airbus delivers 2nd A380 to China

China’s second A380 is expected to arrive Sunday at Beijing’s International Airport....
Green energy convoy arrives in Lhasa

A convoy filled with liquefied natural gas has successfully arrived in Lhasa, the capital of Tibet a...
Lhasa attracts more foreigners to settle down

And, more on Tibet. With its unique culture, unbeatable scenery and the improving services, more and...

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

The Wall Street Journal

China Policy Banks Partying Like It’s 2009

In this year of tight monetary policy, China’s commercial banks have been kept on a tight leash, right? Not exactly. For some Chinese banks, it’s been like 2009 all over again.

China Launches New Trial Program for Yuan Investments

SHANGHAI—China has launched a trial program to allow yuan funds raised offshore to be invested in its domestic capital markets, in a widely anticipated and significant move to help internationalize the Chinese currency and further open the nation's tightly controlled capital account.

China's Xi Starts Diplomacy Test

Vice President, Expected to Assume Top Post Next Year, Visits Neighbors in Effort to Improve Tie

BEIJING—China Vice President Xi Jinping, the man expected to take over as China's top leader next year, will face one of the first serious tests of his diplomatic acumen next week when he visits Vietnam, which is now forging closer ties with the U.S. due to an increasingly tense territorial dispute with Beijing.

U.S. Pledges to Hold China to WTO Rules

GENEVA—While the U.S. "absolutely welcomes" China's development as an economic power over the last decade, Beijing needs to respect World Trade Organization rules like any other member, U.S. Trade Representative Ron Kirk said Friday.

Beijing Tightens Cyber Controls

China is launching its strongest official measure yet to quell electronic expressions of discontent, clamping down on its versions of Twitter that have increasingly fueled once-rare protests and threaten to undermine its leaders' firm hold on power.

300-Meter Banyan Tree Made of Steel and Light in … Taichung?

Even in an era of stadiums shaped like birds nests and skyscrapers that look like sails, Sou Fujimoto’s design for a 300-meter triangular steel structure inspired by the banyan tree manages to surprise.

Dubbed “The Taiwan Tower,” Mr. Sou’s building is slated to go up, not in Beijing or Dubai, but in Taichung, Taiwan’s third most populous city.

Bill Gates Discussing New Nuclear Reactor With China

BEIJING — Microsoft co-founder Bill Gates confirmed Wednesday he is in discussions with China to jointly develop a new and safer kind of nuclear reactor.

"The idea is to be very low cost, very safe and generate very little waste," said the billionaire during a talk at China's Ministry of Science and Technology.

Zhang Yimou’s ‘Flowers of War’ Sumptuous But Lacks Subtlety

Leading Chinese filmmaker Zhang Yimou is hoping to hit it big in China and globally with his new film, “The Flowers of the War” (金陵十三钗). The question is, can he do it?

Featuring Hollywood star Christian Bale, “The Flowers of the War” is China’s Academy Award entry for best foreign language film and tackles subject matter familiar within China: Japan’s brutal occupation of China’s southern city of Nanjing in 1937.

Amy Tan Q&A: China Then and Now, and How to Bridge the Gap

Novelist Amy Tan has spent most of her life examining the divide between China and America through novels that examine the emotional minefields of families and the clashes that come from cultural misunderstandings.

Photos: Liu Bolin, Vanishing Artist

See Kaixin's FEATURE on Liu Bolin with plenty of Photos

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

The New York Times

English, Once a Barrier, Opens a Door

By MARGARET HO

Hui Lin, 17, says that despite years of struggling, the experience of learning English has ultimately given her a chance to succeed.

The Battle Over Aviation Emissions

By JAMES KANTER

China and the United States were among two dozen countries calling on Europe to modify or scrap its plans to regulate airline emissions with just weeks to go before the system goes into force.

Daw Aung San Suu Kyi Meets With Chinese Ambassador

By EDWARD WONG

China is the biggest foreign supporter of the Burmese government, and the ambassador said Daw Aung San Suu Kyi had requested the meeting.

A River's Gifts
By SHENG KEYI

When I was younger I was ashamed to admit I came from a remote village, yet I lacked the courage to claim I was from a city, so I usually said simply that I came from an outlying township. Now I must tell the truth, that I was born in an isolated village.

Will China Stumble? Don't Bet on It

6 days ago ... I remain staunchly optimistic that China will continue to be the world's greatest machine for economic expansion.

China’s W.T.O. Anniversary Shows a World of Difference

By KEITH BRADSHER

As China celebrates its 10th anniversary since joining the World Trade Organization, the country has been reflecting on its success as a top trade partner.

Inflation Cooling Off in China

By BETTINA WASSENER

Consumer prices in November rose 4.2 percent from a year earlier, the Chinese statistics bureau reported Friday, continuing a steady easing of inflationary pressures.

U.S. and China Meet in Annual Military Review

By MICHAEL WINES

Top American and Chinese military officials began an annual review of major issues in Beijing on Wednesday pledging to seek greater cooperation and trust.

An Entrepreneur’s Rival in China: The State

By DAVID BARBOZA

Private companies have been the prime engine of China’s economic miracle, and economists warn that the Chinese government’s eagerness to control more of that wealth could stifle innovation.

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

Asia Times Online

US Congress fights China on all fronts
By Benjamin A Shobert

On Tuesday last week, the Congressional Executive Commission on China (CECC) held a hearing on Liu Xiaobo. While it was focused specifically on the one-year anniversary of Xiaobo's Nobel Peace Prize, it also sought to answer the larger question of what his treatment suggests about the potential for further reform of China's political process.

SINOGRAPH
China and the shadow
of German history
At this point in history for China there is room to argue that the nation is faring better than Europe or the United States. Mounting internal criticism of the "Peaceful Evolution" doctrine and resistance to political and economic reform ignore the fact that China's model is creating a growing misalignment of interests between China and the rest of the world. The shadow of the history of Germany 100 years ago holds a warning for China today. - Francesco Sisci

China's toxic soup

Kent Ewing

As a potentially deadly smog cloud with a toxicity that was off the charts hit Beijing last week, a haze of misinformation seen in low official readings had many city-dwellers turning to microblogs for accurate air-quality information. A cold front has cleared the fearsome fog, but the apathy of the leaders and the environmental consequences of rapid growth will likely see another soon descend. - Kent Ewing

China 'easing' outlook boosts Asian stocks
By Olivia Chung

HONG KONG - The prospect of China loosening its monetary policy helped to drive up Asia's markets on Monday as the country's leaders gathered for their annual Central Economic Work Conference, which will set the tone for next year's economic policy.

China tunnel and nuclear warhead follies
By Peter Lee

The recent hubbub over the size of China's nuclear warhead stockpile and its underground maze of missile hidey-holes, the notorious "Underground Great Wall of China" is, on one level, a battle between sensationalizing amateurs and incensed arms control professionals.

On another level, it highlights a continuing nuclear security stand-off between the United States and China.

INTERVIEW
Eagle and dragon lock claws in mid-flight

Benjamin A Shobert talks to Aaron L Friedberg, the author of A Contest for Supremacy: China, America, and the Struggle for Mastery in Asia

America's focus on the emerging challenge posed by China was first distracted by the "war on terror" and then the 2008 financial crisis, says author Aaron L Friedberg. In the meantime, Beijing advanced economically, developed asymmetric capabilities and grew assertive. China may not want to conquer Asia. However, it could extend a preponderant political influence over the region with dire consequences for the US.

THE ROVING EYE

An extreme traveler, Pepe's nose for news has taken him to all parts of the Pepe Escobar globe. He was in Afghanistan and interviewed the military leader of the anti-Taliban Northern Alliance, Ahmad Shah Masoud, a couple of weeks before his assassination

Graeme has been using ChinesePod since 2007

"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."

Caixin Online

Closer Look: Companies Backtrack on Real Estate: Mainland-listed companies are moving to minimize their exposure to the real estate market in a marked reversal from previous years

Yuan Expansion Hits Hurdles: Market analysts indicated the appreciation of the yuan will slow down amid the European debt crisis and decrease in exports, among other factors

China's Solar Sector Sees Sunrise with Sunset: Risks abound for Chinese solar manufacturers as world demand softens, but the big companies are still expanding

China Gets Fresh Chance to Float the Yuan: Today's crisis-environment opportunity to liberalize the economy through foreign exchange reform must not be missed

Hu Pledges to Address Trade Imbalances: Citing projections that retail sales are expected to grow by 15 percent annually, Hu indicated China's trade surplus would gradually level out on policies to increase domestic consumption

American Privilege Rots an Empire from Within: Well-paid corporate managers, lawyers and doctors are contributing to the demise of an entire economy

When Public Prurience Meets Media Mea Culpa: Driven to the edge by a rapist and reporters, a Shenzhen couple's story points to what's wrong, and right, with the media

Australia's China Challenge: Derived from the growth of the Chinese economy, the speed of Chinese investment into Australia is predicated on productivity drivers that now face major difficulties

New Mantra for Monetary Policy: Easy Does It

Yet the jury is out over whether the central bank's decision to cut bank-reserve ratios set the stage for more loosening in 2012.

Some called it a symbolic adjustment when China's central bank dug into its toolbox and gave the go-ahead for more lending and spending November 30 by lowering the nation's bank deposit reserve requirement a half-percentage point.

China Seeks Balance in Wobbling World Economy: Experts weigh in on what must be done to avoid the developed world’s economic malaise and domestic inflation

China Raises Electricity Prices: The NDRC, China's top economic planning body, said price increases for retail and on-grid electricity prices will not extend to the majority of household power consumption; 12.01.2011

With Higher Poverty Line, Antipoverty Funds Reconfigured: A new poverty threshold has raised the number of impoverished to 120 million people, and officials are now addressing how exactly they will fund and increase antipoverty subsidies in tandem

PBOC Cuts Bank Reserve Requirements

China's central bank announced the lowering of reserve requirements for commercial lenders for the first time in three years

(Beijing) -- China's central bank has cut bank reserve requirements for the first time in nearly three years, with many market analysts interpreting the move as a sign of monetary easing after three years of cautious tightening.

Former Central Banker: China Under No Obligation to Rescue Ailing Economies

Wu Xiaoling, former People's Bank of China official, said China should look to rebalancing the domestic economy as a means to aid the global economy

(Wuxi) – China is neither obligated nor capable of saving the world from another financial crisis, said Wu Xiaoling, former deputy governor of China's central bank and current vice chairperson of the Finance and Economics Committee of the National People's Congress.

ICBC's Jiang Likes Big Banks for Small Clients

The chairman of China's largest bank ICBC tells Caixin why the small business market is getting even more important

Small business shutdowns blamed on a lack of reliable credit brought Chinese Premier Wen Jiabao to the commercial city of Wenzhou recently, and later prompted a State Council call for more bank support

China Lifts Punitive Reserve Requirement on Rural Cooperative Banks