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SHIJIAZHUANG, May 12 (Xinhua) -- The brand of Sanlu Group, the dairy company embroiled in China's tainted-milk scandal, was sold at an auction Tuesday for 7.3 million yuan (1.07 million U.S. dollars), court officials said.     An unidentified individual entrepreneur from south China won the bid at an auction in the Shijiazhuang Intermediate People's Court in northern Hebei Province. No further information about the bidder was released.     The auction started at 7 million yuan and drew three bids from only two bidders.     The "Sanlu" brand was worth 14.9 billion yuan in 2006, according to the China Brand Asset Evaluation Center.     Sanlu Group, which was based in Shijiazhuang, had been China's leading seller of milk powder for 15 years until the melamine adulteration scandal broke last September. The group's revenue hit 10 billion yuan in 2007.     The company's tainted baby milk powder was found to have caused the deaths of at least six children and sickened more than 300,000others.     Beijing-based dairy producer Sanyuan bought the core assets of Sanlu, which went bankrupt in February, for 616.5 million yuan at an auction on March 4.     Also Tuesday, Sanlu sold 51-percent stakes in three dairy companies for 22.8 million yuan. The purchasers' identities were not immediately known.     But it failed to sell 51 percent stakes in another two dairy firms and withdrew 12 patent techniques from auction.     The bankruptcy trustee is to announce plans to dispose of Sanlu's last remaining assets, which include a 51-percent stake in a third dairy firm in Hebei's Baoding City

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, June 24 (Xinhua) -- China's State Council reached a decision at an executive meeting on Wednesday to promote a new type rural social pension pilot projects.     The meeting, presided over by Premier Wen Jiabao, said building a new rural social pension system was key to reducing rural poverty and narrowing the gaps between urban and rural areas. It was also key to maintaining social stability and promoting domestic consumption.     According to the meeting, the new-type rural social pension pilot programs will be carried out in 10 percent of counties this year. Rural residents above the age of 16 are all eligible to join the program.     The meeting also ordered local governments to strengthen supervision of pension funds.

BEIJING, July 4 (Xinhua) -- China did not lose its advantages in foreign trade despite global downturn and could retain foreign trade level above the global average once global economy recovered, a senior Chinese official said Saturday.     Yi Xiaozhun, vice commerce minister, was speaking at the Global Think Tank Summit that ended Saturday in Beijing.     Though China's foreign trade would not rise sharply as it did in the past few years, the country did not lose its foreign trade advantages thanks to policies to stimulate domestic demands, Yi said.     He said China had been diversifying foreign trade and reported increased trade with countries in Africa, Middle East, middle Asia and Latin America.     Yi also called for halt on protectionism, saying that protectionism had been picking up and about 40 percent of anti-dumping cases and 70 percent of anti-subsidy cases targeted China.     He called for pushing forward the Doha round negotiation, which he believed was key in fighting against protectionism.

ZAGREB, June 19 (Xinhua) -- Chinese President Hu Jintao arrived in the Croatian capital of Zagreb Friday for a state visit to strengthen the comprehensive cooperative partnership between the two nations.     This is the first visit to Croatia by a Chinese head of state since the two countries established diplomatic ties 17 years ago.     In Zagreb, President Hu is expected to meet Croatian leaders to discuss how to enhance bilateral cooperation and exchange views on major regional and global issues of common concern.     The two countries are expected to sign a host of cooperation deals involving various sectors during the visit.     "I believe that President Hu's visit to Croatia will have great impact on consolidating traditional friendship between China and Croatia and deepening all-round and mutually beneficial cooperation between the two countries," said Chinese Vice Foreign Minister Li Hui last week. Chinese President Hu Jintao (2nd R, front) is welcomed upon his arrival while Croatian President Stjepan Mesic (1st R, front) looks on at Zagreb, capital of Croatia, June 19, 2009. Hu arrived in Zagreb Friday for a state visit to strengthen the comprehensive cooperative partnership between the two nationsThe China-Croatia ties have developed steadily since the two countries established diplomatic relations 17 year ago. Their bilateral relations have entered a new era since the two countries forged a comprehensive cooperative partnership in 2005.     In recent years, China and Croatia have had more high-level exchanges, strengthened their political mutual trust, expanded their fruitful cooperation to all fields, and maintained close cooperation and mutual support on issues concerning each other's basic interests.     Croatia is the last leg of President Hu's three-nation tour, which has already taken him to Russia and Slovakia.     Hu had earlier attended a summit of the Shanghai Cooperation Organization and a summit of BRIC countries (Brazil, Russia, India and China) in Yekaterinburg, Russia.