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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

BALI, Indonesia, May 3 (Xinhua) -- Details of a sizeable foreign currency reserve pool among the Association of Southeast Asian Nations, China, Japan and South Korea (ASEAN+3) were finalized here on Sunday, two years after the initiative was first introduced to combat emergent financial problems.     Finance ministers of the ASEAN+3 nations reached the agreement on all main components of regional reserve pool, known as Chiang Mai Initiative Multilateralization (CMIM), and it will be implemented before the end of this year.     The agreement on the CMIM includes "the individual country's contribution, borrowing accessibility, and the surveillance mechanism," said a statement issued after the finance ministers' meeting.     The total size of the CMIM is 120 billion U.S. dollars with the contribution portion between ASEAN and the Plus Three countries at20 percent versus 80 percent.     China and Japan will each contribute 38.4 billion U.S. dollars to the pool, while South Korea will contribute 19.2 billion dollars.     Among China's portion, Hong Kong Special Administrative Region will contribute 4.2 billion U.S. dollars. "We welcome Hong Kong, China, to participate in the CMIM," said the statement.     The CMIM is set up to "address short-term liquidity difficulties in the region and to supplement the existing international financial arrangements," the statement said.     The ministers agreed to establish an independent regional surveillance unit to monitor and analyze regional economies and support CMIM decision-making. As a start, there would be an advisory panel of experts to work closely with the Asian Development Bank (ADB) and the ASEAN Secretariat.     In the statement, the ministers also endorsed the establishment of the Credit Guarantee and Investment Mechanism (CGIM) as a trust fund of the ADB with an initial capital of 500 million U.S. dollars. It could be increased once the demand is fully met.     "It's a welcoming step in coping with the crisis, and an important step to the financial architecture of the region and it will infuse confidence to the market," said ADB Managing Director General Rajat Nag after the meeting, referring to the finalization of the CMIM.     Asked whether the CMIM is meant to replace the role International Monetary Fund plays in the region, he said the mechanism is only "good complement" to what IMF does.     "Gladly, we don't have the situation like in the U.S. or Europe but it's better to be prepared. Once there is a need, we are able to present our concerns and there is facility there," said Philippine Finance Secretary Margarito B. Teves." It is a helpful matter for the market."     "It's done, there would be no blocking stone toward the final implementation of reserve pool," said Thai finance minister Korn Chatikavanij.

BEIJING, July 3 (Xinhua) -- Chinese Premier Wen Jiabao on Friday called for continued vigilance against the global pandemic of the A/H1N1 influenza and urged positive and scientific measures to cope with it.     Wen made the comment at the executive meeting of the State Council, China's Cabinet.     He underscored the importance of preventing and controlling the disease in public places such as schools and hospitals and called for intensified efforts in treating patients with serious symptoms so as to reduce the likelihood of fatalities. So far, there have been no deaths from the flu in China.     Inspection and quarantine measures should be strengthened and reserves of flu-prevention and control materials must be secured, he said.     Flu medicine and vaccines should be made and stored as scheduled and the role of traditional Chinese medicine in treating the disease should not be neglected, he added.     He also asked local authorities to make prevention and control plans based on local conditions and formulate management measures on flu patients' medical expenses.     The Premier has also championed the importance of health education and public opinion guidance in fighting against the disease.

BEIJING, June 28 (Xinhua) -- Chinese President Hu Jintao has called for more confidence in the country's stable economic growth and gaining more strength to better people's livelihood.     He made the calls during an inspection tour in northeastern China's Heilongjiang Province from June 26 to 28, one of the country's old industrial bases and important granaries.     Hu encouraged people in Heilongjiang to seize the opportunity as China moved to revitalize its old industrial bases, to overcome the difficulties and maintain a steady economic growth and ensure people's livelihood. Chinese President Hu Jintao (C) talks with residents at Dongsheng Village in Wuliming Town of Zhaodong City, northeast China's Heilongjiang Province. President Hu Jintao made an inspection tour in Heilongjiang Province on June 26-28, 2009.     During his three-day inspection tour, Hu visited Harbin Measuring and Cutting Tool Group and Harbin Aircraft Industry Group, two of the province's major industrial enterprises, and pointed out that independent innovations are key to high competitiveness and further development.     "Crisis creates opportunities, and we shall put more efforts in technological upgrading, and build up technology reserves for the future," he said.     Hu also visited rural areas and inspected crop growth. He encouraged farmers to increase grain production and boost agricultural modernization, so as to ensure the country's grain security.     More supportive policies for farmers are on the way, he said, hoping that farmers could increase their incomes with improved policies and technologies.     Hu also visited an oil field, a military camp, a school for intellectually challenged children, a human resources market, and a residential community which houses people who formerly lived in shanties.

BEIJING, June 3 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday raised a four-point proposal to boost collaboration with Malaysia so as to jointly tackle the global financial crisis.     China and Malaysia should insist on the Five Principles of Peaceful Co-existence, take each other's concern into consideration and achieve common development, Wen said to visiting Malaysian Prime Minister Najib Tun Razak during their meeting at the Great Hall of the People.     Wen raised a four-point proposal for further cooperation between the two countries, which included promoting trade diversification, enhancing mutual investment, deepening financial cooperation and safeguarding financial stability, and strengthening coordination on regional affairs. Visiting Malaysian Prime Minister Najib Tun Razak (front, L) receives a special gift, a photo of his late father and China's late Premier Zhou Enlai when the two established diplomatic ties between China and Malaysia in 1974, from Chinese Premier Wen Jiabao (front, R), in Beijing, capital of China, June 3, 2009.     Malaysia has become China's largest trade partner among members of the Association of Southeast Asian Nations (ASEAN). Trade between the two countries reached 39.06 billion U.S. dollars in 2008, up 10.3 percent year on year.     This year marks the 35th anniversary of the establishment of diplomatic relations between China and Malaysia. Wen said that China is ready to work with Malaysia to take this opportunity to promote their relations.     Malaysia was the first ASEAN member country to forge diplomatic relations with China 35 years ago under then Prime Minister Tun Abdul Razak, Najib's late father.     Najib said it is his honor of choose China as the first non-ASEAN destination since he took office in April. "This shows that Malaysia attaches great importance to the development of Malaysia-China relations."     Najib noted that his visit is aimed at further accelerating the development of the bilateral ties and strengthening cooperation.     Najib said he agree with Wen's proposal on advancing Malaysia-China relations, saying Malaysia, on the basis of reciprocity and mutual benefit, is ready to enhance cooperation with China in the fields of economy, finance, resources, energy and infrastructure construction.     After the meeting, the two leaders witnessed the signing of bilateral agreements on cooperation.     Najib received a special gift from the Chinese side: a photo of his late father and Chinese Premier Zhou Enlai when the two established diplomatic ties between China and Malaysia in 1974.     Najib received an honorary doctorate in international relations from the Beijing Foreign Studies University at the opening ceremony of an international seminar on the dialogue between Chinese and Malaysian civilizations here Wednesday.