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BEIJING, Feb. 9 (Xinhua) -- Following several reports of melamine-tainted milk products resurfacing, Chinese Vice Premier Li Keqiang on Tuesday vowed a new nationwide campaign in 2010 to ensure food safety."Food is essential, and safety should be a top priority for food. Food safety is closely related to people's life and health and economic development and social harmony," Li said at the first plenary meeting of the recently-established food safety commission under the State Council.According to Li, this year's campaign will focus on the prominent issues of food additives, edible farm products, food production processing, food circulation and import and export, livestock slaughter, the catering industry and health supplements industry, among others."We should understand the foundation for the country's food safety is still weak and the situation is grave," Li said. "We should fully realize that it is a pressing issue to ensure food safety." Chinese Vice Premier Li Keqiang(C) attends the first plenary session of the food safety commission in Beijing, capital of China, Feb. 9, 2010Media reports said melamine-tainted dairy products have resurfaced in several Chinese provinces, proof that the toxic milk powder recalled in 2008 was not destroyed and has been used.Melamine is an industrial compound which can give a false positive on protein tests and cause kidney stones. Melamine-contaminated milk products killed at least six children in 2008 and sickened 300,000.Li stressed responsibility of food producers and vendors while calling on various government departments to strengthen supervision and guidance of these companies.He urged improvement in food safety standards and the food system production check-ups, risk evaluation, accident prevention and emergency response.Li vowed to "thoroughly" investigate the latest milk scandal, destroy all tainted products and severely punish those responsible.Two managers from a dairy company and a milk powder dealer in northwestern Shaanxi Province were arrested on charges of manufacturing and selling food that does not meet hygiene standards, local police said earlier this month.Li urged the strengthening of law enforcement by increasing the frequency of inspection and expanding the supervision to clear up potential troubles and ensure people spend a happy and peaceful Lunar New Year, which falls on Feb. 14 this year.
BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.
SHANGHAI, Jan. 22 (Xinhua) -- China's top political advisor Jia Qinglin Thursday called on Shanghai World Expo organizers to be determined to stage a successful, brilliant and memorable event.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks at a ceremony hosted here to mark the 100-day countdown for the six-month-long mega event. Jia Qinglin (front), chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, delivers a speech as he attends a mobilization meeting of the World Expo 2010 in Shanghai, east China, Jan. 21, 2010. Shanghai Expo entered its 100-day countdown on Jan. 21. The ceremony was attended by more than 6,000 people including members from the Expo organizing committee, volunteers, security staff, participating enterprises and sponsors.Jia said, the Expo would witness the remarkable improvement of China's economic strength, scientific and technological strength and international status.The expo would boost economic and cultural exchanges between China and the world, and be conducive to the recovery of world economy, said Jia. Jia Qinglin (C), chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, attends a mobilization meeting of the World Expo 2010 in Shanghai, east China, Jan. 21, 2010. Shanghai Expo entered its 100-day countdown on Jan. 21.Jia called for stepped-up efforts to ensure prompt completion of all venues, seamless security work and quality services.In a separate meeting, Chinese Vice Premier Wang Qishan called for vigilance in the preparations for the Expo. "Organizers should detect problems and deal with them in a timely manner."Wang is also head of Shanghai World Expo Organizing Committee.The 2010 Shanghai World Expo is scheduled for May 1 to Oct. 31. To date, 192 countries and 50 international organizations have confirmed their participation in the global feast that presents latest advances of architecture and engineering worldwide.
STOCKHOLM, March 22 (Xinhua) -- China has made huge contributions in realizing the United Nations Millennium Development Goals (MDG) in access to safe drinking water, said Joakim Harlin, Senior Water Resources Advisor at the United Nations Development Program based in Stockholm on Monday."According to a joint monitoring report issued by the World Health Organization and the United Nations Children's Fund last week, 89 percent of the population of 1.3 billion has access to drinking-water from improved sources, up from 67 percent in 1990, This is a huge contribution to MDG," Harlin said in an interview with Xinhua after a seminar on MDG to mark the World Water Day.Johan Kuylenstierna, Chief Technical Advisor for UN-Water, also commented on China's efforts in addressing the mounting water problems from access to safe drinking water to prevention of water pollution."China is an interesting country because you are facing so many problems, but you are also seriously addressing many of them," Kuylenstierna told Xinhua, adding that when a problem is clearly identified, you take action on trying to mitigate it and address it."China can learn a lot from other countries, but I think we can learn a lot from China too in dealing with various environmental problems," Kuylenstierna said.He also said statistics from 2009 showed that China is the biggest country in investing in renewable energy just in one year, and it has passed the United States."Water quality problem is a major global issue, access to clean water for achieving the MDG. If the water is not clean, it is not useful. This is a global problem. We release about two million tons of waste everyday into our waters," said he.2.2 million children die every year from drinking bad water. Five or six million people in total that is because of the poor quality of water. People die every year from diseases that could actually prevented, according to the UN's statistics.
BEIJING, Feb. 26 (Xinhua) -- China and Zambia on Friday reaffirmed their commitments to increase the vitality of their decades-old relationship.Top Chinese legislator Wu Bangguo and Premier Wen Jiabao met respectively with Zambian President Rupiah Banda, who was on his first state visit to Beijing since becoming president in 2008. Chinese Premier Wen Jiabao (R) shakes hands with visiting Zambian President Rupiah Banda in Beijing, capital of China, Feb. 26, 2010Zambia was the first southern African nation to forge diplomatic relations with China, Wen said. The two countries' diplomatic ties were established in October 1964.