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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.

CHENGDU, June 15 (Xinhua) -- President Hu Jintao on Saturday ordered that the title of "heroic quake-relief force" be given to a helicopter regiment that showed loyalty and courage in rescue work following last month's major quake in southwest China. The command by Hu, also Chairman of the Central Military Commission of the People's Republic of China, was announced at an award meeting here on Sunday.     The regiment of army aviation under the Chengdu Military Command did an excellent job in quake-relief missions and showed great loyalty, courage and dedication, the command said. Photo taken on May 16, 2008 shows that a Mi-171 transport helicopter is ready to transport people from quake-hit Maoxian County, southwest China's Sichuan Province, to a safe place. A Mi-171 transport helicopter engaging in quake relief work near the Yingxiu Township, Wenchuan County in southwest China's Sichuan Province crashed on Saturday afternoon, according to military sources    All Chinese military members should learn from the regiment, which put people's lives first, it said.     The regiment has dispatched 1,848 helicopter flights for rescue and transport missions since the quake on May 12 and evacuated 1,126 injured people from the region.     More than 619 tons of food, water and medicines have been delivered and 2,171 people stranded by the quake were transferred by the regiment.     One of the regiment's helicopters crashed in a deep forest ravine in Sichuan Province during a rescue mission on May 31, leaving all five crew and 13 passengers dead.     The honor awarded to the regiment was the top honor of all the regiment members and all military members who participated in quake-relief missions, Xu Caihou, Vice Chairman of the Central Military Commission, said at the meeting.

CHENGDU, June 15 (Xinhua) -- President Hu Jintao on Saturday ordered that the title of "heroic quake-relief force" be given to a helicopter regiment that showed loyalty and courage in rescue work following last month's major quake in southwest China. The command by Hu, also Chairman of the Central Military Commission of the People's Republic of China, was announced at an award meeting here on Sunday.     The regiment of army aviation under the Chengdu Military Command did an excellent job in quake-relief missions and showed great loyalty, courage and dedication, the command said. Photo taken on May 16, 2008 shows that a Mi-171 transport helicopter is ready to transport people from quake-hit Maoxian County, southwest China's Sichuan Province, to a safe place. A Mi-171 transport helicopter engaging in quake relief work near the Yingxiu Township, Wenchuan County in southwest China's Sichuan Province crashed on Saturday afternoon, according to military sources    All Chinese military members should learn from the regiment, which put people's lives first, it said.     The regiment has dispatched 1,848 helicopter flights for rescue and transport missions since the quake on May 12 and evacuated 1,126 injured people from the region.     More than 619 tons of food, water and medicines have been delivered and 2,171 people stranded by the quake were transferred by the regiment.     One of the regiment's helicopters crashed in a deep forest ravine in Sichuan Province during a rescue mission on May 31, leaving all five crew and 13 passengers dead.     The honor awarded to the regiment was the top honor of all the regiment members and all military members who participated in quake-relief missions, Xu Caihou, Vice Chairman of the Central Military Commission, said at the meeting.

ROME, June 4 (Xinhua) -- Food security in China is guaranteed despite the recent major earthquake and heavy snowfalls earlier this year, China's Agriculture Minister Sun Zhengcai said in an interview with Xinhua.     "The earthquake will not change the nation-wide situation of agricultural production this year since local output of the affected area is quite small compared to that of the whole country," Sun said, who was attending a world summit here on soaring food prices, hosted by the United Nations Food and Agriculture Organization (FAO).     An 8.0-magnitude earthquake hit southwestern China in May, with its epicenter in Wenchuan County, a mountainous area of Sichuan province, with the death toll currently at over 70,000 people and causing massive economic loss.     Sun acknowledged local agricultural production was in no way immune from damage. A farmer harvests wheat in the Hailing District of Taizhou, east China's Jiangsu Province, June 3, 2008. The harvest season for nearly 19,000 hectares of wheat in Taizhou started on June 3.    "The damage was mainly to planted crops and livestock," he said, adding an urgent harvesting and planting effort has helped minimize the impact and which had no national implications.     The devastating earthquake struck following severe snow and ice storms that swept southern China early this year, giving rise to concerns about food shortages in the world's most populous country.     However, Sun said food security remains guaranteed because of sufficient stockpiles and a big harvest ahead.     "This year, China's agriculture has prevailed over disasters of snow and ice storms and the extremely severe earthquake, and our summer grains and oilseeds are set to harvest good crops," he said.     Since 2004, food production in China has increased for four consecutive years and the total grain output exceeded 500 million tons last year.     Sun said China's grain reserves are currently abundant and there is enough supply of major farm products to offset the effects of the two natural disasters.     If there are no more major disasters, China is expected to have a big summer harvest this year, with grain output set to rise for the fifth consecutive year. Even in southern China, oilseeds, which had been feared to drop due to the snowfalls, would reverse the declining trend in the previous three years.     Sun said as a huge, developing country with 1.3 billion people, China has always paid great attention to food and agricultural development.     The Chinese government will continue to adhere to the food security policy of basic self-sufficiency, complemented by imports and exports to readjust surplus and shortfalls, he said.

BEIJING, Sept. 22 (Xinhua) -- China's chief quality supervisor Li Changjiang stepped down Monday afternoon with the approval of the State Council after tainted dairy products sickened tens of thousands of infants and killed three.     Wang Yong, former deputy secretary-general of the State Council, replaced him as the director of the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ).     Li was the highest ranking official brought down so far by the dairy product contamination scandal.     Across the country, about 13,000 babies remain in hospital after falling ill from melamine-tainted milk powder, and nearly 40,000 others were also sickened but had been cured, according to the Ministry of Health on Sunday.     Wu Xianguo, the Communist Party chief of Shijiazhuang City, the epicenter of the national dairy industry tremor in northern Hebei Province, was also sacked on Monday.     Before Wu, Mayor Ji Chuntang and Vice Mayor Zhang Fawang as well as three other responsible city officials were sacked after locally-based Sanlu Group became the first dairy producer under the spotlight in the scandal.     The latest government personnel reshuffle, together with the resignation of Shanxi governor Meng Xuenong following a deadly landslide triggered by the collapse of an illegal mining dump, sent a strong signal of the central government's resolution to hold relevant officials accountable for severe production and quality incidents, said professor Wang Wei of the National School of Administration.     "Such a system is especially crucial to the building of a service-oriented government as the public, impressed with the Olympic efficiency of the governments at various levels, expect officials to retain quick-response and effective," Wang said.     Under the Civil Servants Law effective as of 2005 and the State Council Regulations on the Punishment of Civil Servants of Administrative Organs enacted last April, heads of administrative organs who fail to fulfill their duties and cause avoidable severe accidents will face removal and severer punishment.     A State Council decision released on Monday defined the Sanlu milk powder issue as a "sever food safety incident".     Wu, who doubled as member of the Standing Committee of the Hebei Provincial Committee of the Communist Party of China, was removed for delaying the reporting of the issue to higher authorities and incompetence in the disposition.     Li resigned taking the blame for supervision default.     Professor Wang found Li's resignation "no wonder". "With tightened and more efficient supervision, pathogenic dairy products would find no way to get out of the production lines," he said.     A combined result from purposeful cover-up of the producer and supervision default, the contamination scandal didn't emerge until Autumn.     Wang Yuanping from Taishun City of Zhejiang reportedly lodged a complaint to Sanlu in May, suspecting that his 13-year-old daughter developed kidney stone after drinking its milk powder.