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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
BEIJING, June 19 (Xinhua) -- A senior Chinese leader has urged local governments to make a greater effort to promote economic development and support social stability during the economic downturn. Zhou Yongkang, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the call during a five-day tour of eastern Anhui Province that ended Friday. Zhou Yongkang (R), member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, talks to a worker at the Anqing Huanxin Group Co., LTD in Anqing, east China's Anhui Province, June 16, 2009Zhou directed local governments to faithfully implement the central authorities' policies and strive to maintain economic growth, improve people's living standards and safeguard social harmony. Improved living standards would provide the basis of a peaceful society, while social stability was a prerequisite for economic development, he said. He called on employers to shoulder their social responsibilities and create more jobs, and asked law enforcement personnel to offer better judicial support for creating social peace.

BEIJING, May 22 (Xinhua) -- Chinese President Hu Jintao urged Friday to build a powerful air force to meet the demands of the People's Liberation Army (PLA) for missions in the 21th century. Hu, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), made the remark when meeting delegates of the 11th CPC Congress of the PLA Air Force in Beijing. Hu asked the Air Force's officers to constantly improve the ability to win local wars as well as accomplish diversified military tasks. Chinese President Hu Jintao delivers a speech as he meets with the delegates to the 11th Congress of the Communist Party of China of the Chinese Liberation Army Air Force, in Beijing, capital of China, May 22, 2009. He urged the acceleration of modernizing the air force which is an important component of the country's armed forces. The president said the Air Force has done outstanding jobs in accomplishing various tasks given by the Party and the people, and made great contribution to national security and development. Hu also stressed that the Air Force should enhance the message of loyalty to the Party among all officers and soldiers as an essential part of their military training. The PLA Air Force was founded in 1949.
HONG KONG, May 18 (Xinhua) -- China will definitely be able to meet the target of achieving eight percent economic growth in 2009, a senior official of the country's top economic planning body said here Monday. "Judging from the indicators of the first four months, I do believe it is highly possible to achieve an eight percent growth for the full year. In fact, I believe the target will definitely be met," said Xulin, head of the Department of Fiscal and Financial Affairs of the National Development and Reform Commission. Speaking at a briefing in Hong Kong, Xu said the basic assessment was that there has been consolidation in the recovery momentum and that the minor slowdown in April, normal as it has been when considering the past experiences, did not necessarily signal a second bottom in the ongoing economic downturn. Economic planners have been monitoring the economy closely and are prepared to put in place additional measures in the coming months if it is necessary, Xu said. Post-earthquake reconstruction in Sichuan province was being carried out quicker than previously planned. Small and medium enterprises were receiving financing aid from guarantee programs, Xu told local as well as foreign reporters. The National Development and Reform Commission will approve 600 billion yuan (88 billion U.S. dollars) of corporate bonds this year as the IPO market remained cool, compared with 236 billion (35 billion U.S. dollars) for 2008, Xu said. The debt of the Chinese government was about 20 percent of gross domestic product, compared with over 190 percent for Japan, close to 100 percent for the United States and 60 percent on average for the European economies. The Chinese government has planned a budget deficit of 950 billion yuan (139 billion U.S. dollars) for 2009, which represented about 2.8 percent of gross domestic product. Xu said the ample resources could sustain heavy government investment to stimulate the economy for several years although "it was not necessary. "The Chinese government will spend more resources to develop public housing programs and a pension system and to push forward the health reform, so as to increase the contribution of domestic consumption to economic growth," Xu said. "I don't think export can still play the roles as they did in past few years in driving the Chinese economy," Xu said, adding that China, as a responsible player, would like to see a moderately stable yuan.
BEIJING, June 4 (Xinhua) -- A reception was held here on Thursday evening to celebrate the 35th anniversary of the establishment of diplomatic ties between China and Malaysia. Chinese Vice Premier Li Keqiang and Malaysian Prime Minister Najib Tun Razak addressed the reception, pledging to advance bilateral relationship to a new level. Li said the growth of China-Malaysia ties in the past 35 years had brought tangible benefits to the two peoples, and helped promote regional peace and development. The current sound bilateral relations profited from the traditional friendship, the broad common interests and the great importance attached by both leaders to promoting the ties, Li noted. Chinese Vice Premier Li Keqiang(R) cuts a cake together with his counterpart Najib Tun Razak during the evening reception to mark the 35th anniversary of the establishment of diplomatic relationship between China and Malaysia in Beijing, capital of China, on June 4, 2009.Under the new situation, the potentials for China-Malaysia cooperation were great, Li said, noting that China would work with Malaysia to jointly cope with the international financial crisis. The two governments signed a joint action plan on China-Malaysia strategic cooperation on Wednesday, which outlined the political, economic, cultural, and education cooperation in the coming years. Li hoped the two nations would fulfill the action plan and expand the bilateral strategic cooperation. Echoing Li, Najib said his government was ready to increase cooperation with China in an all-around way, in a bid to lift bilateral ties into a new historical level. Najib said his country was proud of becoming the first country among the members of the Association of Southeast Asian Nations (ASEAN) to forge diplomatic relations with China 35 years ago. Najib's late father, then Prime Minister Tun Abdul Razak, signed the communique on diplomatic ties with China at that time. At a press conference here Thursday evening, Najib said that he is very delighted with the outcome of his China visit, stressing that the cornerstone of bilateral relations and the emphasis of further cooperation will still be the economic and business ties. "My visit is not only to follow the footsteps, but more to run faster and further," said Najib, adding that he believed there is so much potential to raise the bilateral relations to the next phase. "We are excited about the prospect between Malaysia and China, " he said. Najib arrived here on Tuesday for a four-day official visit. China is the first country he visited outside the ASEAN since he took office in April.
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