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BEIJING, Sept. 17 (Xinhua) -- An executive meeting of the State Council (cabinet), presided over by Premier Wen Jiabao, on Wednesday decided to launch national comprehensive tests of dairy products and reform the dairy industry. According to the meeting, the incident involving the tainted Sanlu milk powder reflected chaotic industry conditions, as well as loopholes in the supervision and management of the industry. It is necessary to learn lessons, properly deal with the incident, improve the inspection and supervision system and strengthen the management of the dairy industry, the meeting said. The meeting also reached six other decisions and ordered governments at all levels to implement them. These decisions include: Saleswomen check the returned Sanlu brand milk powders in a supermarket in Yinchuan, capital of northwest China's Ningxia Hui Autonomous Region Sept. 17, 2008.providing the best and free medical care to those sickened by melamine-contaminated milk powder, -- confiscating and destroying all sub-standard products, -- strictly supervising the production of dairy companies with on-site inspectors, -- revising regulations on the supervision and management of the industry, -- subsidizing dairy farmers and encouraging more production by those enterprises with higher-quality products and, -- finding the cause of the incident and punishing those responsible. The Sanlu Group, a leading Chinese dairy producer based in the northern Hebei Province, admitted last week that it had found some of its baby milk powder products were contaminated with melamine, a chemical raw material. It issued an immediate recall of milk formula made before Aug. 6. Three infants have died so far. There are at least 6,244 infant victims of the contaminated milk powder, of whom 158, or 2.5 percent, have acute kidney failure, the Ministry of Health said on Wednesday.
BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday. Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent. "Currently the impact on domestic financial institutions is still limited," he said. The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars). The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year. However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars. "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report. Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner." Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis. China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18. The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001. Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market. However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence. Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt. From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics. In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation. Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation. Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas. Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.

BEIJING, April 19 (Xinhua) -- The All-China Journalists Association (ACJA) on Saturday asked U.S.-based. news network CNN and its commentator Jack Cafferty to apologize for his remarks regarding China. In an interview with Chinese media including Xinhua News Agency, a senior official with the ACJA strongly condemned Cafferty for his "insulting" words in a TV show on April 9 and asked him and CNN to make a formal apology to all Chinese as soon as possible. Cafferty said in the TV show that Chinese products were "junk" and China was "basically the same bunch of goons and thugs they've been for the last 50 years" when the Olympic torch relay was going on in San Francisco. Since the Lhasa violence on March 14, some foreign media including CNN had made a number of biased reports about the incident, the official said. CNN had violated the principle of objective reporting, and "this is not what responsible media should do," he said. "And Cafferty also disregarded a journalist's professional ethics to attack a country with insulting words," the official said. Despite having an effective mechanism to deal with false reporting, CNN issued a statement on its website six days after Cafferty's remarks, which not only pleaded for him, but also spearheaded its attack on the Chinese government, he said. CNN issued a statement on Tuesday saying, "It was not Mr. Cafferty's nor CNN's intent to cause offence to the Chinese people, and CNN would apologize to anyone who has interpreted the comments in this way." But, the statement said that Cafferty was offering his "strongly held" opinion of the Chinese government, not China's people. "We hope CNN and Cafferty to realize that they have harmed the feelings of Chinese and apologize with a rational and responsible attitude," the official said. With the Olympic Games drawing near, the ACJA welcomed all foreign media to cover the event in an objective and balanced way, he said.
HARBIN, July 24 (Xinhua) -- A senior Chinese official has called for carrying on ideological emancipation, persisting in the reform and opening-up policy, pushing forward scientific development and making new breakthroughs in promoting social harmony, to promote rapid and sound economic and social development. Li Changchun, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during an inspection tour in Heilongjiang Province from July 20-23, in the company of the provincial CPC chief Ji Bingxuan and governor Li Zhanshu. Li Changchun (L1), a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, talks to staff at Donghu community during an inspection tour in Heilongjiang Province July 22, 2008He urged the northeastern province to seize the opportunity for industrial revival. Li visited villages, communities, factories and cultural organizations in the cities of Mohe, Heihe, Daqing and Harbin. In Mohe, the country's northeasternmost town, the official paid a visit to the Beiji (Polar) Village, where he learned that local villagers now have cable TV. He also visited Daqing, China's largest oil production base and Harbin, the provincial capital. Local governments should build more public cultural facilities, he said. He urged the province to deepen its cultural restructuring, support multi-talented professionals and develop cultural products with brand names that were recognized at home and abroad. In Daqing, Li also visited the memorial to Iron Man Wang Jinxi, an oil worker who devoted his life to the development of the petroleum industry. Daqing, a city built on the vast oil field, is known for the "Daqing Red Flag", a model set for all industries in the country by late leader Mao Zedong.
BEIJING, Aug. 30 (Xinhua) -- The country's top 500 giants are narrowing gap with foreign counterparts, but they still lag behind, the China Enterprise Confederation announced in its release of the 2008 Top 500 Chinese enterprises list on Saturday. According to the report, the total revenue of the top 500 Chinese enterprises reached 2.99 trillion U.S. dollars (1 dollar=7.3046 yuan, calculated under the exchange rate in 2007), profits 188.4 billion U.S. dollars and assets 8.17 trillion U.S. dollars.Revenues were equivalent to 12.67 percent of the global top 500, profits equaled 11.85 percent and assets 7.79 percent, compared with 10.7 percent, 6.5 percent and 7.8 percent respectively last year. Analysts said the growing proportion of revenue and profits indicated that Chinese companies had become more competitive and profitable. Confederation deputy president Li Jianming said the country's growing economy had benefited these enterprises in spite of price hikes for oil and other materials. He also said private enterprises had grown more robust and capable of taking in advanced technology and management from world giants. They accounted for about a fifth of the country's top 500 enterprises. In addition, their rising investment in research and development and their emphasis on exploring the domestic market increased competition. The growth rate of net profits of the country's top 500 was 19 times faster than that of the world's top500. However, another confederation deputy president Wang Jiming said Chinese enterprises still fell behind in innovation, investment in research and development, and the ability to operate internationally. It would take a long time to catch up. Only 39 enterprises reported overseas sales income of more than 30 percent of the total revenue. Research and development spending accounted for only 1.32 percent of their total revenue, compared with the international average of 3 percent to 5 percent. Poor supply chain management also lagged behind. Logistics coststill accounted for much of the total output, twice that of the world average. Haier and Huawei were among the few enterprises that paid adequate attention to supply chain management. Sinopec Corp, Asia's top oil refiner, retained top spot for the fourth straight year on the Top 500 Chinese Enterprises list with its business revenue exceeding 1.2 trillion yuan, (175.2 billion U.S. dollars), the China Enterprise Confederation (CEC) said on Saturday. The oil giant was followed by the State Grid and PetroChina Company. The top 500 companies paid taxes of 1.74 trillion yuan, accounting for 35.2 percent of the national tax revenue. Baosteel Group Co. and China FAW Corporation and Hongfujin Precision Industry (Shenzhen) Co. held the top three positions in manufacturing sector. The State Grid Corp. of China, the Industrial and Commercial Bank of China and China Mobile ranked the top three in the service sector.
来源:资阳报