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BOAO, Hainan, April 19 (Xinhua) -- Chinese officials and entrepreneurs said Sunday that China should have bigger say in setting commodity prices, as oil and iron ore prices saw roller-coaster-like fluctuations in the past two years.     The drastic price changes are not reflecting real demand, but are propped up by financial speculators, said the senior executives of China's top energy enterprises at the Boao Forum for Asia (BFA) annual conference 2009, which concluded Sunday in the island resort of Boao in south China's Hainan Province.     They said commodity prices should be pulled back to normal track to reflect real demand, otherwise the inflation woe will come back and make business expansion unsustainable.     PRICE AND REAL DEMAND     "Although we are the biggest commodity buyer in the world, our role in the price setting is limited," said Zhang Xiaoqiang, vice minister of the National Development and Reform Commission (NDRC), China's economic planning agency.     China's steel makers have fallen into a prolonged bargain with the world's major iron ore producers, demanding a sharper price cut than the 20 percent-off deal plan offered by the Rio Tinto of Australia, as the world's No.1 iron ore importer has less demand amid the economic slowdown.     Iron ore prices increased five fold in the five years before 2008.     Xu Lejiang, boss of the Baosteel Group Corporation, China's largest steel maker, said at the forum that nothing is more important than the normalization of iron ore pricing, without elaborating how much more price cut he wants.     The continuously rising iron ore prices partly reflected demand, but that's not the whole picture, said Xu.     The prices tumbled by more than two thirds from a peak of 187 U.S. dollars per tonne last year. Speculative trading on iron ore shipping index helped fan the volatility, since shipping costs comprise a large share of the iron ore prices.     The Baltic Dry Index (BDI), a main gauge of international shipping activities, has plummeted from a peak of 11,000 points to above 600 points, which is certainly what people are reluctant to see, Xu said.     His view was echoed by Fu Chengyu, chief executive officer of the China National Offshore Oil Corporation (CNOOC), the largest offshore oil producer in China. He said the prices are bound to fall after irrational rise.     He said the loose monetary policy in the United States should be blamed for the skyrocketing oil prices last year.     "If no measures were taken, the world would see another round of inflation after we weather through the crisis," he said.     He noted the pre-emptive measures should be put into place to avoid that, otherwise the next headache for the G20 leaders will be how to fight inflation.     "We should prepare for tomorrow," Fu said.     Zhang Xiaoqiang said international collaboration is essential to enhance the oversight of the financial speculation.     ACTION BEFORE CRISIS     The volatile external conditions forced many Chinese energy enterprises to seek their own way to offset the negative impacts of price fluctuations.     Cost saving has always been important to CNOOC, said Fu. "We have cut the cost to 19.78 U.S. dollars per barrel, and that has allowed us to get through with ease when prices fall."     "We step up investment with the current cheap prices, and that will help us flourish after the crisis," Fu said.     To offset the negative impacts of price changes, many Chinese enterprises have been engaged in hedge trading and other derivative products investment, but many failed with mounting losses.     "CNOOC has lost nothing, since we use hedge trading to preserve value, rather than make money," he said.     "Hedge trading is not speculation," said Fu who has 30 years of experience in the oil industry.     Fu called on Asian countries to negotiate with the world's major crude oil suppliers, as Asian nations have to pay 1 to 2 U. S. dollars more per barrel than other buyers.     Zhang Xiaoqiang noted China will continue to liberalize domestic prices of energy products and resources, saying the recent reform of refined oil prices is a good start.     "We should beef up our commodity reserve to ensure plenty supply in order to offset the negative impacts of big price changes," Zhang said.     As the Chinese government has announced plans to build the second batch of national oil reserve bases, enterprises can try to have their commercial energy reserves in the future.

BEIJING, Feb. 28 (Xinhua) -- China's top legislature approved the Food Safety Law on Saturday, providing a legal basis for the government to strengthen food safety control "from the production line to the dining table."     The law, which goes into effect on June 1, 2009, will enhance monitoring and supervision, toughen safety standards, recall substandard products and severely punish offenders. The National People's Congress (NPC) Standing Committee gave the green light to the intensively-debated draft law at the last day of a four-day legislative session, following a spate of food scandals which triggered vehement calls for overhauling China's current monitoring system. Wu Bangguo (C), chairman of the Standing Committee of the National People's Congress (NPC), presides over the concluding meeting of the 7th meeting of the 11th NPC Standing Committee in Beijing, on Feb. 28, 2009. The NPC Standing Committee, China's top legislature, concluded its four-day session on Saturday, after approving the food safety law, an amendment to the criminal law and the revised insurance law.    Winning 158 out of 165 votes, the law said the State Council, or Cabinet, would set up a state-level food safety commission to oversee the entire food monitoring system, whose lack of efficiency has long been blamed for repeated scandals.     The departments of health, agriculture, quality supervision, industry and commerce administration will shoulder different responsibilities.     These would include risk evaluation, the making and implementation of safety standards, and the monitoring of about 500,000 food companies across China, as well as circulation sector.     The law draft had been revised several times since it was submitted to the NPC Standing Committee for the first reading in December 2007.     It had been expected to be voted by lawmakers last October, but the voting was postponed for further revision following the tainted dairy products scandal last September, in which at least six babies died and 290,000 others were poisoned.     "It actually took us five years to draft this law since the State Council first made legislative recommendations in July 2004.It has undergone intensive consideration, because it is so vital to every person," Xin Chunying, deputy director of the NPC Standing Committee's Legislative Affairs Commission, said at a press briefing after the law was adopted.     She said although China had certain food quality control systems in place for many years, lots of loopholes emerged in past years, mainly due to varied standards, lack of sense of social responsibility among some business people, too lenient punishment on violators and weakness in testing and monitoring work.     China has a food hygiene law, which took effect in 1995, to regulate issues of food safety, but many lawmakers said it was too outdated to meet the need of practice.     For example, the law is far from being adequate in addressing the problem of pesticide residue in foodstuff.     According to the new law, China will set up compulsory standards on food safety, covering a wide range from the use of additives to safety and nutrition labels.     The law stipulates a ban on all chemicals and materials other than authorized additives in food production, saying that "only those items proved to be safe and necessary in food production are allowed to be listed as food additives."     Health authorities are responsible for assessing and approving food additives and regulating their usage.     Food producers must only use food additives and their usage previously approved by authorities, on penalty of closure or revocation of production licenses in serious cases, according to the law.     In the tainted dairy products scandal, melamine, often used in the manufacture of plastics, was added to substandard or diluted milk to make protein levels appear higher than they actually were.     "Melamine had never been allowed to be used as food additive in China. Now the law makes an even clearer and stricter ban on it," Xin said.     She said the compulsory system to recall substandard food, as written in the law, would also be effective in curbing food-related health risks.     Producers of edible farm products are required to abide by food safety standards when using pesticide, fertilizer, growth regulators, veterinary drugs, feedstuff and feed additives. They must also keep farming or breeding records.     Offenders can face maximum fines which would be 10 times the value of sold products, compared with five times at present.     If businesses are found producing or selling a substandard foodstuff, consumers can ask for financial compensation which is 10 times the price of the product. That's in addition to compensation for the harm the product causes to the consumer.     For those whose food production licenses are revoked due to illegal conducts, they will be banned from doing food business in the following five years.     "This is a big step to increase penalties on law violators," Xin said.     Another highlight of the law is that celebrities can share responsibility for advertising for food products that are found to be unsafe.     The law says all organizations and individuals who recommend substandard food products in ads will face joint liability for damages incurred.     This has been a hot topic in China where film stars, singers and celebrities are often paid to appear in ads of food products.     "The provisions were added out of concern over fake advertisements, which contained misleading information. Many of the advertisements featured celebrities," said Liu Xirong, vice chairman of the NPC Law Committee.     Several Chinese celebrities had advertised for products of the Sanlu Group, a company at the epicenter of the tainted dairy product scandal. They were vehemently criticized after thousands of babies were poisoned by the Sanlu formula.     Many people posted online demands for them to apologize to and compensate families of the sickened babies. But others argued that it was unfair to blame the celebrities as Sanlu had legal documents to prove its products safe.     On tonic food, a booming industry with an estimated annual output value of 100 billion yuan (14.62 billion U.S. dollars) in China, the law prohibits any claims related to prevention or cure of illness on the product's label and instruction leaflets.

BEIJING, March 3 (Xinhua) -- A Taipei court has rejected here Tuesday former Taiwan leader Chen Shui-bian's appeal against his detention and ordered that he be held in custody for a further two months, starting on March 26.     According to the island's law, a defendant whose maximum, basic, potential sentence is below ten years should not be held for more than three months during trial. If necessary, courts can prolong the detention for no more than two months every time. The detaining period can be prolonged for at most three times.     However, Chen Shui-bian was accused of many corruption charges and his most severe basic sentence could be life, which made the court consider prolonging his detention more than three times.     Chen was first detained on Dec. 30, 2008.     According to the resolution made Tuesday by the Taipei court, the charges against Chen were very severe, and he had repeatedly disturbed the judicial procedure to protect himself and delay the litigation.     "Under the current circumstances, it will be very hard to hold more trials if Chen Shui-bian is not detained," the court said in the resolution.     It added that since Chen was likely to destroy or change evidence and collude with witnesses, it wouldn't be effective enough to confine his living compared to detention. "Thus Chen's appeal for repealing the detention was rejected," it said.     Chen and his wife are accused of taking bribes worth 100 million New Taiwan dollars (29 million U.S. dollars) and 6 million U.S. dollars in a corporate land procurement, and the couple are also allegedly involved in deceivingly pocketing over 104 million New Taiwan dollars of special funds. Chen and his collaborators are also accused of laundering the illegal income.

BEIJING, Feb. 23 (Xinhua) -- The recent visits by Chinese leaders to 15 countries and the European Union (EU) have proved extremely fruitful, promoting China's traditional friendship with them and boosting people's confidence regarding the future amid the ongoing global financial crisis. Chinese President Hu Jintao, Premier Wen Jiabao and Vice President Xi Jinping paid visits to several countries in Asia, Africa, Europe and Latin America during the first month of the Chinese lunar year, which lasts from Jan. 26 to Feb. 24. Visiting Chinese President Hu Jintao addresses a welcoming rally attended by people from various sectors in Dar es Salaam, Tanzania, Feb. 16, 2009    Their tours were warmly welcomed and highly praised by governments and media of the countries visited by the Chinese leaders.     Meanwhile, China and the United States carried out their maiden communication after U.S. President Barack Obama took office on Jan. 20, 2009. The talks were constructive and expected to boost bilateral ties and help tackle global challenges.     Chinese President Hu carried out state visits to Saudi Arabia, Mali, Senegal, Tanzania and Mauritius from Feb. 10 to 17. Visiting Chinese President Hu Jintao (L) talks with Saudi Arabian King Abdullah bin Abdul-Aziz during their meeting in Riyadh, Saudi Arabia, Feb. 10, 2009During the visits, Hu comprehensively expressed China's views and stances on ways to deal with the financial crisis, emphasizing that the international community should take note of, and make all efforts to reduce, the crisis' impact on developing countries, especially those lowest on the development ladder.     He also said China would like to strengthen cooperation and take coordinated action with developing countries and the entire world community to meet current challenges.     The president reached a broad consensus with African leaders on the means to further boost bilateral cooperation, steadfastly implement measures to aid Africa made at the Beijing Summit of the Forum on China-Africa Cooperation in November 2006 and deepen the new China-Africa strategic partnership.     Hu made a six-fold proposal to develop China-Africa ties under the current situation, saying the Chinese have always cherished their traditional friendship with Africa and regard Africans as all-weather, trustworthy and dependable friends, and would like to be the African people's brothers and partners for ever.     The leaders of Mali, Senegal, Tanzania and Mauritius said Africa-China ties are a prime example of friendly cooperation among nations, adding that Africa is willing to promote cooperation with China and boost bilateral ties.

GUANGZHOU, Feb. 6 (Xinhua) -- Millions of migrant workers from rural areas in China are expected to enjoy their golden years with pensions, like the urbanites do, as the country's top social security authority has planned to help them systematically gain access to the service.     A document released Thursday by the Ministry of Human Resources and Social Security to solicit public opinions said migrant workers could move their pension accounts from one place to another when they move, a practice that is currently banned for lack of proper regulations.     "With the new rule, I can get pensions like urban elders when I am old," said Liu Xinguo, a migrant worker who comes from central Hunan Province. He is now working in a property management company in Guangzhou, capital of Guangdong Province.     The proposed rule stipulates migrant workers who have joined pension plans can continue their pension accounts as long as they get pension premium payment certificates in their previous working places.     Currently, Liu himself puts 100 yuan per month into his pension account while his company contributes 180 yuan on his behalf.     "If I withdraw my pension account, I will no longer get the company's input in my pension account," said Liu, who has been working in Guangzhou for more than a decade.     In fact, many migrant workers who have had pension accounts, have chosen to withdraw their accounts before they leave the place where they work and plans to work in other places. They only get the fund they have paid and cannot get the company's part in the accounts.     Tang Yun, who comes from Jiangxi Province and is now in Dongguan City, Guangdong, is an example.     Four months ago, Tang joined the pension plan in Dongguan. But now he plans to go to Shenzhen to find a new job. He had to withdraw his pension account and only got some 600 yuan in cash from the account.     "I had no choice but to withdraw as the pension account could not go to Shenzhen," said Tang, who has been working in Guangdong for 8 years.     However, with the new regulation, migrant workers will no longer face the same problem again.     "It is a breakthrough in the pension system for migrant workers," said Cui Chuanyi, a rural economy researcher of the Development Research Center under the State Council, or cabinet.     The new method removes the fundamental hurdles for migrant workers to join pension plans and protects their rights and interests, said the researcher.     According to figures with the Ministry of Human Resources and Social Security, China has some 230 million migrant workers. By the end of last year, only 24 million joined pension programs.     In addition to the transfer ban, high pension premiums present a challenge to the small number of migrant workers who do carry pension plans.     According to the country's current regulations, the pension premium for urban workers include the employer's payment of 20 percent of an employee's salary and the employee's payment of 8 percent of his or her salary.     The new rule says employers will pay 12 percent of employees' salaries and the employee will pay 4 to 8 percent of their salaries to meet the pension premiums.     "The new rule will reduce the burden of companies and migrant workers in pension premium payment," said Cui Chuanyi. "That will encourage more companies to support the establishment of pension plans for migrant workers."     The new regulations will also make it is easier for migrant workers to accumulate the 15 years of pension premium maturity required for receiving pensions, as the pension premium terms will be added when they move from place to place. In the past, the maturity was reset each time they withdrew.     Chen Xinmin, a professor at South China Normal University, said from the point of view of narrowing the rural-urban gap, the adjustment of the pension system for migrant workers would have a far-reaching impact.     "Given the fact that migrant workers have become a major part of China's industrial workforce, the new rule means a significant step forward to eliminating urban-rural differentiations and improving farmers' welfare," said the scholar.     The upcoming revision of the pension system for migrant workers will also accelerate the urbanization process in China, said Chen.     An official with the Ministry of Human Resources and Social Security said Thursday the country was also planning to set up a national social security information consultation system starting with migrant workers. The system will use the identity card number of a citizen as his or her life-long social security card number.