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BEIJING, Jan. 1 (Xinhua) -- China Dairy Industry Association (CDIA) on Thursday told Xinhua more information on setting up a medical compensation fund for victim babies in the tainted milk powder scandal.     "The scandal caused great harm to infants and the society, so firms involved in the scandal feel very regretful for this. To be responsible for their wrongdoing and rebuild the dairy industry's reputation, these companies offer to shoulder social responsibilities," said the association.     Sanlu, the dairy producer at the center of the tainted milk powder scandal, and other 21 firms blamed in the scandal had decided to set up a compensation fund for the victim infants.     "The money from these companies for this fund has been in place now. The fund will cover the charge on acute disease medical treatment and the one-time cash payment for victims," said the Beijing-based association.     But no specific amount of the fund or compensation for each victim baby was revealed.     "The fund is big enough to cover all the medical care charge for the victim infants and the compensation work is now underway," according to the association.     "After the acute disease medical treatment, if those infants develop related diseases before they are 18 years old, they can also get full reimbursement for their medical expenses from the fund," the CDIA added.     The fund will be entrusted to China Life Insurance Co., Ltd., the country's leading life insurer, to manage. To make it easier for the victim families to get compensation, they can get the medical charge reimbursement through China Life's outlets nationwide.     China's tainted dairy scandal was exposed in September after babies who had milk powder produced by the northern Hebei Province-based Sanlu Group developed kidney stones.     Other leading dairy firms were also involved. The contamination killed six babies and more than 290,000 infants suffered from urinary problems such as kidney stones.

BEIJING, Nov. 29 (Xinhua) -- Chinese President Hu Jintao warned on Saturday that the global financial turmoil will make it harder for China to maintain the pace of its economic development in the near future.     China is under growing tension from its large population, limited resources and environment problems, and needs faster reform of its economic growth pattern to achieve sustainable development, said Hu when addressing members of the Political Bureau of the Communist Party of China (CPC) Central Committee.     The nation should maintain a stable and relatively fast economic growth, accelerate structural readjustment for sustainable development, and stick to reform and opening up, said Hu, also general secretary of the CPC Central Committee.     Efforts should be made to solve problems that concern the people's fundamental interests, in order to achieve healthy and rapid economic and social development and improve people's living, the CPC chief said.     Hu also underlined the importance of efficient resource utilization and environmental protection in China's industrialization and modernization strategy, and asked for the overall development in both rural and urban areas.     The nation should not only seek fast and sound economic growth, but also promote the comprehensive development of society and its people, said Hu.     He also noted that with the spread of the global financial crisis, China is losing its competitive edge in the world market as international demand is reduced.     International competition is fiercer than ever and protectionism has started to increase in investment and trade, said Hu.     In October, China's export growth slowed to 19.2 percent from 21.5 percent in September.

BEIJING, Nov. 28 (Xinhua) -- The Political Bureau of the Communist Party of China (CPC) Central Committee convened a meeting here on Friday, analyzing and studying the economic work of next year and setting out major tasks.     The meeting said that this year has been eventful and the country has risen to many daunting challenges, including the global financial crisis and domestic natural disasters. The economy has maintained a stable and relatively fast growth and society has been stable, which are hard-won achievements, it said.     The meeting, chaired by CPC Central Committee General Secretary Hu Jintao, warned that the worsening global financial crisis would have more impact on China's economic development, urging the country to take more precautionary measures to meet the challenges.     The meeting said that next year, which marks the 60th anniversary of the founding of New China, the nation should boost domestic demand for a stable and relatively fast economic growth, accelerate the transformation of development patterns and structure adjustment for sustainable development, deepen the reform and opening-up drive and solve problems that concern the people's interests for a healthy and rapid economic and social development.     Maintaining a stable and relatively fast economic development should be the foremost task for next year's economic work, it said, urging a better combination of ensuring growth, boosting domestic demand and adjusting structure.     An "active" fiscal policy and "moderately loose" monetary policy should be continued, and measures including tax reduction and increasing central government investment should be taken to safeguard the people's livelihood, stimulate domestic demand and transform development patterns, it said.     Consumption, rural consumption in particular, should be actively boosted and a set of major projects on livelihood, infrastructure and environment protection should be launched.     The position of agriculture as the foundation of the economy should be strengthened and agriculture production be boosted, it said.     The stable growth of foreign trade should also be maintained.     Structural adjustment should be accelerated, including developing the high-tech industry, small and medium-sized enterprises, the service sector and coordinating regional development.     More progress should be made on energy saving and emissions reduction and pollution treatment be stepped up, the meeting urged.     Rural reform and financial reform should be deepened, and people's livelihood should be improved and more jobs be created, it said.     The meeting also agreed in principle suggestions on judicial reform by the CPC Central Political and Legal Affairs Commission.     The reform should meet the judiciary needs of the people and aim at promoting social harmony, beef up measures to tighten the restraint on and supervision over the use of power, and remove barriers that hamper justice, it said.

NEW YORK, Jan. 5 (Xinhua) -- The New York Stock Exchange (NYSE)on Monday kicked off its trading session with a special ceremony marking the 30th anniversary of the establishment of diplomatic relations between China and the United States.     In a symbolic move, Stephen A. Orlins, president of the U.S. National Committee on U.S.-China Relations (NCUSCR), rang the market's Opening Bell. He was accompanied by Dr. Henry Kissinger, a key trailblazer and eyewitness for the normalization of U.S.- China relations.     The two countries formally established their diplomatic ties on Jan. 1, 1979.     Zhang Yesui, China's UN permanent representative, said the bilateral relations of China and United States is of great importance, not only to the two peoples, but also to the world peace and security, and the global economic development.     Dr. Kissinger, who visited China in 1971, said he is optimistic about the future of the bilateral relations of China and United States. "It is now a pillar of the international order. And peace and prosperity of the world depend closely on the Sino-U.S. relations," he said.     Talking on areas of further co-operation between the two countries, Dr. Kissinger said first of all China and United States should develop a common solution on how to overcome the current international financial and economic crisis, and develop a program of collaboration to tackle the issue.     And "on the key problems that exist in the world -- proliferation, energy, climate change, environment -- China and United States can be a key to a solution of these problems," he said, "So the strategic dialogues between China and United States should not only continue, but be reinforced and strengthened."     NCUSCR President Orlins called the NYSE celebrating ceremony "a real testimony, not only to the historical events, but also to how far we have come."     "When we established diplomatic relations exactly 30 years ago on January 1st, we could not have imagined that we would have Chinese companies listed on the NYSE, whose market capital is in excess of 800 billion U.S. dollars," Orlins said, "It is just remarkable."     Currently, there are 41 companies from Chinese mainland listed with NYSE, the premier U.S. listing venue for non-U.S. companies.     Duncan L. Niederauer, CEO of NYSE Euronext, told Xinhua that he has taken the relations with China as one of his most important initiatives during his years as chief executive. He also suggestedthe Chinese companies to "stay the course" and stick to the good business when dealing with the global financial crisis and economic downturn.     "There is always years like this in global markets where it is a very very tough ride. I think there are a lot of terrific companies in China. They either already listed or are in the queueto be listed, and we're gonna continue to support them through the ups and downs," Niederauer said, "I believe their fortunes will improve overtime and we just need a long-term outlook of it."     NYSE was the first foreign exchange to receive approval to open a representative office in China. After the opening of its Beijing office on Dec. 11, 2007, NYSE has signed memorandums of understanding with China's Dalian Commodity Exchange and Zhengzhou Commodity Exchange in co-operations in the futures and options markets.     Among the guests to the Monday ceremony were Peng Keyu, Chinese consul-general in New York, and Jan Berris, vice president of the NCUSCR. 

Envoys from the six nations to the Korean Peninsular nuclear talks gather to hold talks in the Diaoyutai State Guesthouse in Beijing, on Dec. 8, 2008. A new round of the six-party talks is begun here Monday afternoon for a fresh round of talks on the denuclearization of the Democratic People's Republic of Korea (DPRK).     BEIJING, Dec. 8 (Xinhua) -- Envoys from the six nations gathered in Beijing on Monday for a fresh round of talks on removing nuclear programs from the Democratic People's Republic of Korea (DPRK).     "I propose the talks focus on three issues," Chinese Vice Foreign Minister Wu Dawei said in his opening address late Monday afternoon.     "First, verification; secondly, implementation of the remaining second phase action plan; and thirdly the establishment of a peace and security mechanism in northeast Asia."     The talks, also involving the United States, Republic of Korea(ROK) Russia and Japan, got under way in Diaoyutai State Guesthouse in western Beijing.     "Since our last meeting in July, all parties have kept in close communication and consultation and registered some progress, which China deeply appreciated," Wu said.     Last week, chief U.S. envoy Christopher Hill and his DPRK counterpart, Kim Kye Gwan, met in Singapore. The talks were reported to be substantive, but the two parties failed to reach a deal on sampling of atomic materials.     "We should participate in the meeting with a flexible and pragmatic attitude. We need joint efforts to narrow differences and lay a solid foundation for promoting talks into next phase," Wu said.     The Chinese host also called on the six nations to continue to adhere to the principles of "word for word, action for action" and” phased implementation."     Monday's talk lasted about one hour, with the issue of verification topping the agenda.     "We discussed fuel oil, the issues of disablement schedule and verification," Hill told reporters at China World Hotel Monday night.     "On fuel oil and disablement, there were no really contentious issues," said Hill.     The difficulty lies in how to verify DPRK's nuclear program.     "The Chinese have some ideas on how to approach the issue. What China is trying to do now is to put together a draft and circulate something tomorrow(Tuesday)," Hill said.     "It has to do with the verification. The key element will be what we did in Pyongyang. As you know we want to see some further definitions of this."     Sunday night, the U.S. envoy said the objective of this round of talks was to produce a verification protocol and a clear road map of what parties need to do to complete the verification.     Under an agreement reached at the six-party talks in February 2007, the DPRK agreed to abandon all nuclear weapons and programs. It promised to declare all its nuclear programs and facilities by the end of 2007. In return, DPRK would get diplomatic and economic incentives.     The six parties agreed to a disarmament schedule in October 2007. The DPRK said it has slowed down that process because of sluggish economic compensation.     On Saturday, DPRK vowed to ignore Japan at the talks, citing Tokyo's refusal to send aid to the country as part of the agreement.     Before Monday's talks began, the Chinese delegation held a series of preliminary bilateral meetings with the other five parties.     Despite recent tensions, the DPRK and ROK delegations also held a rare bilateral meeting before the talks opened.     Launched in 2003, the six-party talks was a vice-minister level mechanism aimed at denuclearizing the Korean Peninsula. Chinese top nuclear negotiator and Vice Foreign Minister Wu Dawei (1st R, front) addresses a fresh round of talks on the denuclearization of the Democratic People's Republic of Korea (DPRK) in the Diaoyutai State Guesthouse in Beijing, on Dec. 8, 2008. (Xinhua/Wang Jianhua)

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