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BEIJING, June 17 (Xinhua) -- Chinese shares sank to a 15-month low on Tuesday in very low volume, amid weak investor confidence. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row. The Shenzhen Component Index fared worse, sinking 4.03 percent, or 395.77 points, to 9,429.50. The Hushen 300 Index, which reflects about 60 percent of the combined market value in Shanghai and Shenzhen, closed at 2,842.68 points, down 109.57 points, or 3.71 percent. Investors read information at a stock trading hall in Shanghai, China, June 10, 2008. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row Total turnover was just 67.5 billion yuan (9.65 billion U.S. dollars). Financial, oil and petrochemical, real estate, mining, transportation and broker stocks led the plunge. China Merchant Property, for example, dipped 7.36 percent to 16.12 yuan. A man looks at the electronic board showing the stock index at a securities exchange in Shanghai, east China, June 17, 2008. The Shanghai index slid through the 2,800-point mark, touching 2,799.33 points at midday, shortly after the National Bureau of Statistics said the growth rate of fixed-asset investment slowed in the first five months. Urban fixed-asset investment rose 25.6 percent year-on-year to 4.026 trillion yuan in the first five months of 2008. The growth rate was 0.3 percentage points below the same period last year and 0.1 percentage point less than the January-April period this year. Analysts said the market was also being undermined by surging world oil prices, weakening regional economies and the government's efforts to curb liquidity and tame inflation. The People's Bank of China, the central bank, earlier this month lifted the bank reserve ratio by a full percentage point to 17.5 percent.
BEIJING, Sept. 19 (Xinhua) -- Chinese President Hu Jintao on Friday urged all the members of the Communist Party of China(CPC) to put people's interests first and learn the bitter lessons from the latest security incidents. Addressing the opening ceremony of a seminar for the country's ministerial-level leaders in Beijing, Hu, also the General Secretary of the CPC Central Committee, said that the major accidents on work and food safety which occurred in some places of the country this year had incurred severe losses of people's lives and property. These accidents had indicated that some leaders lacked a sense of responsibility and had a loose governance, he said. These accidents also showed some of the leaders paid no attention to people's problems and complaints and were insensitiveto the problems which threats people's life security, said Hu. He urged all the leaders to fully understand the serious consequences of the accidents and learn the bitter lessons from the accidents. Those accidents reminded us once again that only by solving the problems emerged from the Party leaders ... and putting people's interests first, could the Party better lead the people towards the building of a well-off society, Hu said. The President also urged more efforts from the leaders to realize and safeguard the fundamental interests of the people. Leaders should strive hard to do practical and good things for the people and ensure that people benefits from the country's developing economy, he noted. More efforts should be made to mobilize people to be involved in the cause of the country's scientific development, and leaders should collect people's ideas and listen to their opinions in the process, he said.
BEIJING, Oct. 1 (Xinhua) -- China will give more efforts to strengthen quality supervision of dairy products in rural areas, said Chen Deming, the minister of commerce, on Wednesday. "The Ministry of Commerce (MOC) always gives food product supervision in vast rural areas a priority, although it is not an easy job to carry out as in urban areas," said Chen. Chen said the MOC has urged local authorities to take tangible measures to regulate and stabilize the dairy markets in such areas. The local governments were asked to launch strict supervision and inspection over dairy products in rural shops, enterprises and wholesale markets. Tainted milk products should be removed from shelves in time. "The MOC will continue to work together with local governmental organs to ensure a sound market order, and help farmers get more knowledge about dairy products," said Chen. Meanwhile, Chen noted the country should adopt concrete measures to lift consumer's confidence. "The government should enhance inspection over product quality, while enterprises should take on more social responsibility." China's food quality has been criticized recently, as 13,000 infants nationwide were hospitalized with kidney problems and at least three were killed after drinking baby formula tainted with melamine. The chemical, which was added illegally, makes the protein content of milk appear higher than it actually is. After the Sanlu formula's problem exposure, the General Administration of Quality Supervision, Inspection and Quarantine conducted a nationwide examination of baby milk powder to find 22 companies whose formulas were tainted.
BEIJING, Sept. 12 (Xinhua) -- A preliminary investigation confirmed the contaminated Sanlu baby milk powder as the cause of kidney stones in infants after a first-phase probe by experts, China's Ministry of Health said here on Friday. An investigation team jointly organized by departments including the health, public security, agriculture ministries and quality watchdog examined the urine and kidney stones of the infant patients and found the substance melamine therein. The investigation team, which is in Shijiazhuang, Hebei Province, where dairy producer Sanlu Group is based, is now coordinating with the local government to investigate the incident. "Those responsible for the contaminated milk will face severe punishment," said an official with the team. The team arrived in Hebei on Friday. After listening to the local government's report on its handling of the incident, they collected samples and documents from the Sanlu Group and the local quality testing agency. They also visited the affected babies in local hospitals and gave advice on the treatment. Sanlu, one of China's leading dairy producers, found during an internal company investigation in August its powdered milk products were contaminated with melamine, according to the team's investigation. Parents of the babies with kidney stones tell the reporter about their kids' drinking state at a military hospital in Lanzhou, capital of northwest China's Gansu Province, Sept. 11, 2008. So far this year, Gansu Provincial Health Department has seen 59 kidney stone cases in infants, and at least one baby died as a result of kidney stones. Most of them live in rural areas of the province. There were no such cases in 2006 or 2007The statement didn't say why the company didn't release the findings until news reports exposed dozens of babies became sick with kidney stones after consuming the Sanlu brand of baby milk powder for a prolonged period. Health experts said melamine is a chemical raw material. Ingestion can lead to stone formation in the urinary tract. A thermosetting plastic, melamine has an appearance similar to milk powder. It is widely used in manufacturing fabric, glue, housewares and flame retardants. "The substance gives the appearance of a high nitrogen level, which is an index to measure the protein content in food," a health expert told Xinhua. He declined to be named. One baby in the northwest Gansu province died from the stones. At least 59 cases had been reported in Gansu and other provinces. Sanlu had sealed off 2,176 tons of contaminated milk powder and recalled 8,210 tonnes from the market. There were still 700 tonnes in circulation. All the contaminated formula was produced before Aug. 6. Supermarkets in some provinces had started to pull the milk powder off shelves. The Health Ministry said on Friday it had launched a nationwide investigation into the contaminated milk formula. All local health agencies were to report cases of infants with kidney stones immediately. It also issued a treatment plan on its website (www.moh.gov.cn) to help hospitals deal with sick babies.
BEIJING, Aug. 20 (Xinhua) -- Chinese President Hu Jintao on Wednesday paid a morale-boosting visit to the country's Paralympic athletes, urging them to "strive to become strong and fight for the best." With 16 days to go until the opening ceremony in Beijing, Hu, accompanied by Vice President Xi Jinping, went to the training center for Paralympic athletes in a northeastern suburb of the capital in the morning. Chinese President Hu Jintao shakes hands with an athlete at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008.More than 300 Chinese athletes competing in the Sept. 6-17 Games were busy training at the center, the country's first national-level training facility for disabled athletes. The 547-member China delegation, the largest in history, will participate in all 20 events during the upcoming Paralympics. Hu watched the training of the athletes in track and field, football, swimming and wheelchair basketball. He cheered on Li Duan who had lost his sight 12 years ago in an accident, as he practiced long jump under the guidance of his coach. Li won two gold medals at the 2004 Athens Paralympics. Chinese President Hu Jintao cheers on swimmers at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008 "I heard you used to play basketball and switched to long jump after an accident. It must have not been easy for you." Hu said while holding the blind man's hands. "A soldier could be injured, but he remained a soldier. An armyman could fall down, but his will was unbeatable," Li, a soldier in service, responded in high spirit. He said he would fight for better performances at the Beijing Games. Hu also shook hands with other track and field athletes, and looked over the artificial limbs and racing wheelchairs they used. "I was here to cheer for you before the opening of the Games, and I was moved to see all of you striving to become stronger and training very hard." He wished them all good luck during the Games. Chinese President Hu Jintao holds a football after writing "striving to become strong and fighting for the best" on it at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008. Hu also watched football players afflicted with cerebral palsy in training. They were the first-such group from China to represent the country in the Paralympics. He wrote on a football "striving to become strong and fighting for the best," after the 12 athletes gave the president a football with their own signatures. He said he hoped they would not only fight in the upcoming competition, but also in their daily lives. At the swimming stadium, Hu said he believed the athletes would fully demonstrate their abilities and bring some glory for the country. Chinese swimmers had performed well in previous events. Chinese President Hu Jintao shakes hands with wheelchair basketball players at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008Hu opened a game for wheelchair basketball players, and applauded the frequent baskets by the athletes. He urged players to put participation before winning and enjoy the fun of the Games. Hu also visited a downtown community home for the disabled after he left the training center to find out about the community services provided for the ordinary handicapped population in the capital. Chinese President Hu Jintao shakes hands with a disabled man who is playing chess in Shichahai community home for the disabled in Beijing, China, Aug. 20, 2008. At the special home set in a courtyard, he chatted with the disabled who were painting, writing, surfing on the Internet, playing Chinese chess or receiving recovery exercises. He also joined some mentally-challenged people who were learning to make pizzas and dumplings, and another 20 handicapped making handicrafts such as bracelets and cloth paintings. "The country will take more measures and make more efforts to improve the living conditions to let all the handicapped have a happy life in their mother country," Hu pledged.