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BEIJING, Oct. 12 (Xinhua) -- China's quality watchdog said here on Sunday that the latest tests on Chinese milk powder found no traces of melamine. It was the fourth round of tests for the industrial chemical since the breaking of the tainted baby formula scandal that left at least three infants dead and sickened more than 50,000 others, according to the General Administration of Quality Supervision, Inspection and Quarantine. The tests covered 39 batches of baby formula from 10 brands in six provinces and 133 batches of other milk powder from 45 brands in 18 provinces, the agency said. So far, 499 batches of baby formula from 53 brands and 709 batches of other milk powder from 142 brands produced after Sept. 14 have been tested and none contained melamine, it added. Melamine, often used in the manufacturing of plastics, was added to sub-standard or diluted milk to make the protein levels appear higher.
BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications. The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said. The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October. In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years." The regulation went into effect on Thursday. In the draft version released in August, companies were allowed to pay dividends either in cash or stock. The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency. "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule. Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said. A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress. In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market. Such action was banned in the draft version released in late September to solicit public opinion. Share buy-back through bidding at stock exchanges also no longer needs regulatory approval. The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.
BEIJING, July 11 (Xinhua) -- Negotiators in the six-party talks on the Korean peninsula nuclear issue reached a "principled consensus" here on Friday on verifying the declaration of the Democratic People's Republic of Korea (DPRK), a Chinese official said Friday. The top negotiators discussed the specific principles of setting up a verification and inspection mechanism, as well as economic and energy aid to the DPRK, the Chinese delegation's spokesman Qin Gang told reporters. The Chinese delegation's spokesman Qin Gang answers questions during a press conference held by Chinese delegation of the six-party talks in Beijing, capital of China, July 11, 2008. Qin Gang said that the top negotiators reached a "principled consensus" on Friday on verifying the declaration of the Democratic People's Republic of Korea (DPRK), which is setting up a verification and inspection mechanism, as well as economic and energy aid to the DPRK. The six parties achieved some progress on the verification mechanism, reaching a principled consensus," Qin said, without elaborating. "The specific consensus will be announced very soon." Despite different interests, concerns and stances, the parties were striving for issuing a joint document at the end of this round of discussion, Qin said. He said the top negotiators' meeting, which started Thursday afternoon, went smoothly with "sound atmosphere" and "high efficiency." The Chinese delegation's spokesman Qin Gang answers questions during a press conference held by Chinese delegation of the six-party talks in Beijing, capital of China, July 11, 2008. The heads of delegations meeting would continue Saturday morning, Qin said. "We have made some progress so far...hope we could see a document contain consensus of all parties and measures of next phase when the meeting conclude." The parties were trying to finish the meeting on Saturday as scheduled, Qin said. "Each delegation is working toward that goal, not only to end tomorrow but to end with results." On Friday's meeting, negotiators also exchanged views on establishing the peace and security mechanism in northeast Asia. Besides, the working groups of denuclearization and economic and energy aid held a meeting respectively, mapping out the measures to implement the consensus reached by heads of delegations, Qin said. The current meeting, held after a nine-month stalemate, came after the DPRK handed over the long-awaited nuclear declaration list late June and then blew up a cooling tower in its main nuclear reactor at Yongbyon. The six-party talks, launched in 2003, included China, the United States, DPRK, Republic of Korea, Russia and Japan.
BEIJING, Aug. 5 (Xinhua) -- As a 6.1-magnitude aftershock hit southwest China's Sichuan Province, the country's quake relief headquarters held its 24th meeting on reconstruction here on Tuesday, reiterating its dual focuses: livelihoods and the environment. At the meeting presided over by Premier Wen Jiabao, the headquarters urged giving priority to the basic needs of the survivors of the May 12 earthquake in Sichuan Province. It also promised to improve the local environment step by step, ensuring "fast and sound" reconstruction. Chinese Premier Wen Jiabao (back R) speaks at the 24th meeting of the general headquarters of quake relief under the State Council in Beijing, capital of China, on August 5, 2008.It vowed to spend three years ensuring several goals: that every family has a house; every household has an income; every person has insurance, and that the infrastructure, economy and environment all improve. A special team on reconstruction planning was set up jointly by the national Development and Reform Commission and the governments of the quake-hit Sichuan, Gansu and Shaanxi provinces. Since May 23, the team has been continuously touring the quake zone and collecting opinions from local officials for a final scheme. The plan involves 19.87 million people in 51 counties. The earthquake measuring 6.1 on the Richter Scale occurred in Qingchuan County at 5:49 p.m. on Tuesday, leaving one dead and 23 others injured. On Friday afternoon, an aftershock of the same magnitude hit Pingwu and Beichuan counties in Sichuan, injuring 231 people.
SANAA, June 25 (Xinhua) -- Chinese Vice President Xi Jinping said here Wednesday that China and Yemen share a big potential and many favorable conditions for expanding the scale of investment and cooperation. Xi made the remarks in a speech at the opening ceremony of the China-Yemen Bilateral Investment Seminar, which attracted some 300 Chinese and Yemeni officials and entrepreneurs, including Yemeni Prime Minister Ali Muhammad al-Mujawar. Xi said it is the natural requisite of economic development for the two countries to deepen mutually beneficial cooperation and create common prosperity. Noting that Yemen has geographical advantages and rich reserves of natural resources, he expressed the hope that companies of the two countries could proceed from traditional friendship to mutual understanding and cooperation. Xi said the companies of the two countries should stick to mutually beneficial and win-win practices so as to promote common development. Chinese Vice President Xi Jinping (R) meets with Yemeni Vice President Abdal-Rab Mansur Al-Hadii (L) in Sanaa, capital of Yemen, June 24, 2008. Xi started a two-day visit to Yemen on Tuesday The Chinese leader encouraged entrepreneurs of the two countries to boost exchanges by actively improving the environment, expanding investment channels and optimizing investment structure. He expressed the belief that under the support of the two governments and the joint efforts of Chinese and Yemeni entrepreneurs, the friendly cooperation between China and Yemen will witness even greater growth. The seminar was jointly sponsored by the China Council for the Promotion of International Trade and the General Investment Authority of Yemen. Yemeni Prime Minister al-Mujawar said at the seminar that China is an important, cooperative partner of Yemen. The two countries' relations enjoy a good momentum and there is a broad prospect of trade and economic cooperation. He said Yemen welcomes investment from the Chinese companies in the country, especially in areas like energy, mining, fishing and infrastructure. The Yemeni government will create a favorable investment environment for these activities, he said. Xi arrived here Tuesday for an official visit to Yemen. He will conclude the visit and fly back home Wednesday.