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ALGIERS, Nov. 5 (Xinhua) -- China and Algeria voiced commitment here Wednesday to step up bilateral strategic and cooperative relations and called for intensified cooperation in fields such as infrastructure, energy and resource exploration.     In his meeting with Algerian Prime Minister Ahmed Ouyahia, visiting Chinese top legislator Wu Bangguo called Algeria as "an important cooperation partner," noting that China highly values its strategic and cooperative relations with Algeria.     China and Algeria are both developing countries and share common aspiration to develop their economies to improve the welfare of their peoples, said Wu, Chairman of the Standing Committee of China's National People's Congress (NPC).     He noted that China will join hands with the Algerian side to cement the bilateral cooperation in long-term and strategic perspectives.     He proposed the two nations should work closer in fields such as infrastructure construction, energy, resource exploration and establish an economic and trade cooperation zone.     "We should encourage our enterprises to work together on some big and important projects to improve the quality and level of the China-Algeria cooperation," Wu added.     "The Chinese government will encourage Chinese enterprises to establish business and invest in Algeria, adopt open policy on technology transfer to Algeria and launch various training programs for Algerian personnel in an effort to contribute to Algeria's economic structure adjustment and employment enlargement," the Chinese top legislator said.     Agreeing with Wu's proposal, Ouyahia said that the Algerian government has a sincere will to learn from China and boost bilateral cooperation and mutual investment to help the country's economic transformation and realize sustainable development. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, meets with Algerian Prime Minister Ahmed Ouyahia in Algiers, capital of Algeria, on Nov. 5, 2008The Algerian government would create bigger space and better conditions for Chinese companies to start their business in Algeria, the prime minister promised.     Wu also met with Abdelkader Bensalah, President of Algerian Council of the Nation, on Wednesday.     Wu said his visit has realized the purpose of promoting the inter-parliamentary cooperation with Algerian parliament and boosting the bilateral strategic and cooperative relations.     "We have become brothers on political issues, good partners in trade, and good friends with close coordination on world affairs," Wu recognized.     He also reaffirmed the NPC's willingness to share its experience with the Algerian Council of the Nation on issues concerning legislation and national development in an aim to boost substantial cooperation and promote friendship between the two peoples. Wu Bangguo (L Front), chairman of the Standing Committee of China's National People's Congress, meets with the President of Algerian Council of the Nation Abdelkader Bensalah (R Front) in Algiers, capital of Algeria, on Nov. 5, 2008Bensalah highlighted that the achievement China scored in its national economic and social development is a living proof to the world of the success of the country's opening-up policy.     The Algerian Council of the Nation hopes to step up its friendly exchange and cooperation with the NPC, Bensalah said.     Algeria is the first leg of Wu's five-nation Africa tour which will also take him to Gabon, Ethiopia, Madagascar and Seychelles.

BEIJING, Oct. 18 (Xinhua) -- China Banking Regulatory Commission (CBRC) chairman Liu Mingkang has urged the banking sector to closely watch the impact of the turbulent international financial environment against the domestic financial market and improve capabilities of risk management.     Speaking at a recent CBRC meeting focusing on the economic and financial situation in the third quarter, he demanded the country's banking sector learn lessons from the U.S. financial crisis and take measures to raise competitiveness.     He outlined several major missions for the country's banking sector:     -- implementing macro-economic control policies and making all-out efforts in pushing reform and renovation of the financial system in rural areas.     -- continuing to focus on credit risk control and precautions.     -- strengthening risk control on overseas investment and actively facing the challenges of turbulence in the international market.     -- improving internal management.     -- summing up lessons and experience from the global financial crisis and adjusting operating concepts and methods.     Liu added the CBRC would enhance its supervision and management on risk and safeguard a stable and healthy development of the country's banking sector

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, Oct. 17 -- The government is ready to introduce a series of measures to cushion the impact of slower growth in foreign trade and industrial output caused by the global credit crisis, the vice-minister of the National Development and Reform Commission, said Thursday.     Speaking at a press conference held by the State Council Information Office in Beijing, Du Ying said that as the global economy has slowed, foreign trade volume, value-added output and the profit growth of industrial firms based in China's coastal areas have shown a downward trend in the second half of the year.     "The State Council is greatly concerned by the trend and is ready to introduce a series of measures," he said.     But the full impact of the global financial crisis has yet to be seen, he said.    "We must have a full picture of the difficulties and challenges," he said. The government has already taken several measures to combat the impact, including lowering the deposit reserve ratio, helping small- and medium-sized factories to upgrade their technologies, and introducing more favorable credit policies, Du said.     He said he is confident China can weather the storm.     "As in the past, China can overcome the challenges and difficulties and enter a new stage of development. I'm fully confident of that," Du said.     With the global financial crisis continuing to escalate, China - the world's fourth largest economy - has seen its major economic indexes slide.     The National Bureau of Statistics is due to release figures on Monday for the economic situation over the past three quarters.     Some analysts have forecast that GDP growth might drop further in the third quarter, from 10.1 percent in the second quarter and 11.9 percent for the whole of last year.     Yang Xiong, vice-mayor of Shanghai, said the city's industrial output growth fell to 6 percent last month from an average of 11.5 percent per month in the first three quarters.     The financial hub remains in good shape, however, partly due to investments in preparation for the 2010 World Expo, he said.     Zhao Kezhi, deputy governor of Jiangsu, said the province's trade figures were down 4 percent year-on-year in the first nine months.     Chen Min'er, vice-governor of Zhejiang, said the province had witnessed "individual" cases of company failures, but denied media reports of widespread factory closures.     Authorities will respond by trying to cut the tax burden on local firms, make more credit available and ensure a sufficient supply of land and power for manufacturers, Chen said, adding that now was a good time to weed out obsolete, polluting plants.     On Wednesday, Zhou Xiaochuan, governor of the central bank, called for increased domestic consumption to counter the economic slowdown.     "Due to the impact of various factors, we may need to increase domestic demand," he told Hong Kong-based Phoenix TV.

BEIJING, Oct. 20 (Xinhua) -- China's top economic planning agency on Monday said it would raise the minimum purchasing price for wheat by as much as 15.3 percent starting next year.     The move by the National Development and Reform Commission (NDRC) aims to boost rural income and grain output. The country, with a population of more than 1.3 billion, relies mainly on domestic production for food.     By hiking grain purchasing prices the NDRC hopes to motivate farmers to increase agricultural production.     The government's minimum purchasing price for white wheat next year will be 0.87 yuan (12.7 U.S. cents) per 500 grams, 13 percent higher than prices in 2008. In addition, prices for red and mixed wheat will be 0.83 yuan per 500 grams, up 15.3 percent.     The agency also pledged to further increase subsidies for agricultural production materials, machinery and crop seeds.     It will also increase commercial reserves of fertilizer to help ensure market supply and price stability.     The NDRC would like to expand China's grain production capacity by 50 million tons.     On Oct. 11, China's Ministry of Agriculture predicted an increase in grain output for the fifth consecutive year.     According to estimates from the State Grain Information Center, this year's grain output should reach 511.5 million tons, up 10 million tons from 2007.     The central government allocated 102.86 billion yuan (15.1 billion U.S. dollars) in agriculture subsidies this year, doubling the money from 2007.     The NDRC also plans to raise the minimum purchasing price for rice next year, although it did not give further details.