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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
WASHINGTON, April 22 (Xinhua) -- U.S. Treasury Secretary Timothy Geithner said on Tuesday that the prosperity of the American economy needs the rest of the world to recover. "The rest of the world needs the U.S. economy and financial system to recover in order for it to revive," said Geithner in remarks to the Economic Club of Washington. "We remain at the center of global economic activity with financial and trade ties to every region of the globe." "Just as importantly, we need the rest of the world to recover if we are to prosper again here at home," the Treasury chief said. "Before the crisis, U.S. exports were among our economy's fastest-growing sectors, accounting for more than 6 million American jobs, or about 5 percent of total private sector employment in the U.S. Now, they are one of its fastest-shrinking," he stated. He called for global cooperation to cope with the current crisis, which he said was "the most severe crisis in generations." "As a consequence, the community of nations must work together -- and that work has already begun -- to revive economies around the world and to lay the groundwork for a new, more stable and more sustainable pattern of growth in the future," he said.

SHANGHAI, July 12 (Xinhua) -- China Eastern Airlines on late Sunday announced that it will merge Shanghai Airlines through a shares swap and the two will resume stock trading in Shanghai Monday. Shanghai Airlines will exchange one of its A shares for 1.3 shares of China Eastern after the former's shareholders are given a 25 percent risk premium, the latter said in a statement filed to the Shanghai Stock Exchange. Shanghai Airlines Chairman Zhou Chi said on June 30 that the transfer of shares will take about four to five months. Liu Jiangbo, spokesman of the working team overseeing tie-up affairs, said Shanghai Airlines will become a wholly-owned subsidiary of China Eastern and retain its brand and independent operation. Liu told Xinhua that the merger has entered a concrete stage after the announcement of the detailed merger plan. This is a major step to promote the consolidation of regional airlines and to facilitate building Shanghai into an international air and shipping hub, he said. The merger will give China Eastern, one of China's three state-owned airlines, about 50 percent market share in Shanghai. China Eastern reported a net loss of 13.9 billion yuan in 2008 because of weak travel demand in the economic downturn and wrong-way bets on fuel prices. China Eastern and Shanghai Airlines shares have been suspended from trading since June 8 while waiting for the merger talks. China Eastern last closed at 5.33 yuan and Shanghai Airlines closed at 5.92 yuan. China Eastern is listed in Hong Kong and Shanghai and Shanghai Airlines is listed in Shanghai.
URUMQI, July 9 (Xinhua) -- The Chinese government and the Communist Party of China (CPC) will severely punish the outlaws in the Xinjiang riot, and restore normal social order in the region as soon as possible, senior Chinese leader Zhou Yongkang said here Thursday. Authorities would take stability as their top priority at hand, and crack down hard on violence, in accordance with laws to protect the lives and property of people of all ethnic groups, and safeguard ethnic unity, said Zhou, a member of the Standing Committee of the Political Bureau of the CPC Central Committee. Zhou Yongkang (C), member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, visits Aygul, an injured woman of minority group, at a military hospital in Urumchi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 9, 2009. Zhou started an inspection tour in Xinjiang on Thursday.At least 156 people were killed and more than 1,000 injured in the riot on Sunday in Urumqi, capital city of the Xinjiang Uygur Autonomous Region. When visiting civilians injured in the riot Thursday afternoon at a military hospital, Zhou Yongkang promised that violent outlaws in the deadly riot would receive severe punishment in accordance with China's laws, and that the normal order would be restored. Zhou Yongkang (R, front), member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, shakes hands with a policeman on duty in Urumchi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 9, 2009. Zhou started an inspection tour in Xinjiang on Thursday.He urged medical workers to provide better treatment to the injured, and save the lives of those in serious conditions "at all cost". Zhou also called on troops and police officers on duty in Urumqi to enforce the laws justly, and "crush any attempt by hostile forces from home and abroad".
VIENNA, May 16 (Xinhua) -- Chinese top legislator Wu Bangguo and Austrian Acting Chancellor Josef Proll met here on Saturday, with both sides agreeing to expand bilateral trade and economic cooperation in the fight against the ongoing world financial crisis. Wu, chairman of the Standing Committee of China's National People's Congress (NPC), said China's development has provided even greater room for expanding economic and technological cooperation with Austria. Wu Bangguo (L Front), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Austrian Acting Chancellor Josef Proll (R Front) in Vienna, capital of Austria, May 16, 2009Proll said the financial crisis had incurred a serious impact on Austria's economy. In the process of addressing the consequences of the financial crisis, the Austrian government places great importance on strengthening economic and technological relations with China. China witnessed an economic growth of 6.1 percent in the first quarter of this year, while Austria's economy contracted 2.8 percent in the same period. Noting that the two economies are highly complementary, Wu said China has a huge market and Austria has advanced technologies in many fields. He said China is ready to expand cooperation with Austria in such areas as energy efficiency, environment protection, water conservancy, eco-agriculture, auto parts and clean energy, so as to foster new growth spots of both economies. Proll said Austria will actively transfer advanced technology to China in a bid to expand cooperative areas and carry out large-scale projects. He said that the two countries should turn their economic complementarity into real fruits of cooperation, so as to help the Austrian economy to rally and bring benefits to the people of both countries. Wu said both sides should encourage their companies to seek new cooperative opportunities brought about by the governments' economic stimulus measures. Wu noted that the Chinese government's policy package to counter the impact of the financial crisis has achieved initial results. China is now focusing on restructuring the economy and changing the pattern of growth in a bid to attain sustainable growth. He said the governments of both countries should create favorable conditions for and facilitate the flow of travelers and cooperation between companies of the two countries. Proll said that he agreed with Wu. Wu also met on Saturday with Barbara Prammer, president of the Austrian National Council, or the lower chamber of the parliament. Wu Bangguo (L front), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Austrian National Council President Barbara Prammer (R front) in Vienna, capital of Austria, May 15, 2009During his meeting with Prammer, Wu said Austria is an important cooperative partner of China in Europe. Prammer said Wu's visit reflects the closeness of relations between the two countries. Reviewing the regular contact between the governments, parliaments, political parties and local governments of the two countries, Wu said greater political trust, rapidly growing trade and increasing cultural exchanges helped enhance popular mandate to the expansion of bilateral relations. Prammer said as bilateral links and cooperation in various fields grow smoothly, more and more Austrian people are now willing to learn about China. She said the social basis and popular mandate for expanding Austria-China relations are growing, which will cast a bright future for bilateral cooperation. Wu expressed appreciation that the new government and newly-elected parliament of Austria have given priority to developing relations with China. In order to lift bilateral links to a new level, Wu suggested that the two sides should maintain the current momentum of high-level contact and further deepen political trust. Wu said the parliaments of the two countries should strengthen friendly relations by carrying out exchanges at all levels and in all forms. He welcomes more and more Austrian parliamentarians to visit China. The top Chinese lawmaker suggested that the two countries should further expand trade, investment and economic cooperation by utilizing their specific advantages. Under the circumstances of the spreading world financial crisis, it is of greater significance to strengthen such cooperation, he said. China welcomes Austrian companies to explore business opportunities in the country and participate in the 2010 Shanghai World Expo, said Wu. He also suggested that the two sides should enhance cooperation in such areas as culture, tourism, local governance and education. He said the two countries should also have even closer cooperation on international affairs. They should join hands to oppose any forms of trade protectionism and push for the establishment of a fair, just, inclusive and orderly financial system in the world. Wu said both countries can make contribution to maintaining stability of the international financial market and promoting recovery of the world economy. In response, Prammer said Austria places its relations with China on an important position in its foreign policy. She said Austria is ready to expand the flow of people traveling between the two countries so as to enhance mutual understanding and trust. She also expressed the willingness to further deepen bilateral links in such areas as local contact and cultural exchanges. She said the parliament of Austria will have closer cooperation with the NPC to promote the development of Austria-China relations. Wu is in Vienna for an official goodwill visit. He is the first NPC chairman to visit the country in 15 years.
来源:资阳报