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Farmers from Taiwan looking to establish a business on the mainland can now benefit from a range of preferential policies, an official with the State Administration for Industry and Commerce said Wednesday.Pan Haimin said those who want to set up in one of the cross-Straits agricultural cooperation experimental zones or business incubator parks for farmers, can now apply direct to the appropriate county or city administration for industry and commerce.Speaking at a press conference held by the Taiwan Affairs Office of the State Council, he said compared to the general policy on registering Taiwan companies, the system for farmers is extremely simple."Local administrations will approve qualified applicants without them having to get approval from overseas fund administrations on the mainland," Pan said."Also, the new policies have no minimum registered capital requirements," he said.Other Taiwan-based companies seeking to open on the mainland must first get approval from the overseas fund administrations and there are requirements for minimum registered capital, he said.According to the policies, which will go into effect on Saturday, farmers can engage in planting, aquatic breeding, animal and poultry farming, agricultural product processing, export and import of agricultural products, and exchanges and promotion of agricultural technology.Currently, 11 provinces have established cross-Straits agricultural cooperation experimental zones and four provinces and municipalities have set up business incubator parks for Taiwan farmers.Pan said the local administrations of commerce and industry will offer free consultations on the new policies and people can also log on to the website of the state administration www.saic.gov.cn for more information.Also at yesterday's press conference, Fan Liqing, spokeswoman for the Taiwan Affairs Office of the State Council, urged the Japanese government to deal with the release of German Mark bonds held by Taiwan residents more quickly and with greater effort.Fan said the Japanese government is responsible for paying back the bonds that were issued in the 1920s.In 1923, many Taiwan residents were forced by the then Japanese colonial government on the island to buy the bonds, which promised to pay back the principal sums with interest in 50 years' time, Fan said.She said representatives of the Chinese Foreign Ministry met recently with officials from the Japanese Ministry of Foreign Affairs and insisted Japan pay back the bonds.Xinhua

A pedestrian walks past a branch of China Construction Bank in Shanghai June 3, 2007. [newsphoto]China's central bank is considering establishing a deposit insurance system in a bid to promote financial stability, news reports said on Monday. The People's Bank of China (PBoC) aims to push forward legislation on deposit insurance, the Xinhua News Agency reported, citing information from a central bank meeting. PBoC has carried out research looking into this matter, according to the report. Deposit insurance is a measure introduced by policy makers to protect deposits, in full or in part, in the event of banks being unable to pay deposits. The insurance can maintain public confidence in the financial system and prevent bank runs, thus helping promote financial stability. The United States was the first country to establish an official deposit insurance scheme, during the Great Depression in 1934. Currently, nearly 100 countries have such an arrangement in place. The lack of deposit insurance in China is related to the fact that most of the banks in the country are State-owned, which offer confidence to depositors, analysts said.

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Viruses wreaked havoc on at least 1 million personal computers during the weeklong National Day holiday, according to Jiangmin Co, a leading Chinese antivirus company.The company's monitoring system detected that more than 118,000 computers crashed on October 6 alone."Viruses have been extremely active during the long vacation because more people chose to stay at home and surf the Internet, shopping online or playing online games," He Gongdao, an antivirus expert at Jiangmin, said on Monday."More than 24,000 types of viruses were detected during the week," he said.He said computer users should be more aware of viruses that could be passed on through movable disks.Another antivirus company, Kingsoft, alerted the online community to a new virus it dubbed the "ultimate killer to antivirus software".The virus, a kind of Trojan, is capable of hijacking all kinds of antivirus software when it successfully attacks a computer."It will also automatically search the keywords, including 'antivirus, Kingsoft and Kaspersky', and coercively close the programs, Li Tiejun, an antivirus software engineer of Kingsoft, said."The virus has been supported and spread by a group of people who have developed a systematic and standardized business operation to make profit," Li said. Virus controllers could detect the IP addresses of each computer, he added.The new virus, which affected about 40,000 computers a day, will remain a critical threat to many computer users even after the holiday, Li said.According to the latest survey conducted by the Ministry of Public Security, China has encountered a rising Internet security problem over the past three years, mainly triggered by a growing number of profit-driven computer virus writers, hackers and illegal traders.Some 65.7 percent of 15,000 companies polled had suffered Internet security problems from May last year to May this year, 11.7 percentage points higher than before.

The central bank raised the reserve requirement ratio for banks by 0.5 percentage point yesterday to mop up excess liquidity resulting from a soaring trade surplus and increased money supply. After the increase, which will take effect on April 16, the ratio will be 10.5 percent for big bankers and 11 percent for smaller lenders. It is the third time this year the People's Bank of China has raised the ratio after similar rises in January and February. The bank reserve requirement refers to deposits banks are required to set aside as a reserve, which reduces their lending ability. "The move is directly aimed at mopping up excess liquidity," Zhao Xijun, finance professor at Renmin University of China, told China Daily, adding the ultimate objective is to maintain stable growth of the economy. In recent months, the trade surplus has expanded rapidly and money supply remained at a high. In the first two months, China's trade surplus amounted to .61 billion, a stunning jump of 230 percent over the same period last year. In February, M1, or cash in circulation and deposits, increased 21 percent year on year, a record high for the past 37 months, indicating increased liquidity pressure. Meanwhile, banks have accumulated 11.1 trillion yuan (.44 trillion) of idle funds that can be used for lending. In January and February, domestic banks extended new loans of 982 billion yuan (7 billion), about 260 billion (.6 billion) more than a year ago. As a result, urban fixed-asset investment has picked up to 23.4 percent year on year in the January-February period from about 20 percent in the fourth quarter of last year, reversing the trend of a slight slowdown since last July. On another front, the consumer price index rose to 2.7 percent, close to the warning line of 3 percent, in February. "The central bank has been closely monitoring the growth trends of the economy and is taking preemptive measures to keep it on the right track," said Zhao. Such a strategy is different from past years, when it seemed to have resorted to rather drastic measures to seek instant regulatory effect, said Zhao. The central bank raised interest rates three times in the past year; the most recent of which came into effect on March 18. Tang Min, chief economist with the Asian Development Bank in China, said yesterday that the adjustment in the reserve requirement ratio may be followed by another hike in the interest rate.

Businesses in the Taihu Lake area will have to pay heavy fees to discharge pollution into the lake and nearby waterways this year, officials from the Jiangsu environmental protection bureau said Thursday.The new regulation, approved by the State Environmental Protection Administration and the Ministry of Finance last month, is the first of its kind in the country. It will be implemented initially in Suzhou, Wuxi, Changzhou, Zhenjiang and Nanjing, all in Jiangsu Province.The move is part of a long-awaited campaign to limit the amount of pollution pumped into the region's waterways.Taihu Lake, which provides drinking water for about 30 million people in the provinces of Jiangsu and Zhejiang as well as Shanghai Municipality, has been heavily polluted by industrial waste, pesticides and fertilizer since the 1980s.The situation deteriorated in May last year when the lake suffered from a massive blue-green algae outbreak that threatened the water supply to more than 1 million residents of Wuxi.The government closed down some 2,800 small chemical factories after the bloom appeared.The water quality in the Taihu Lake area is expected to improve as the new rule takes effect, prodding companies to clean up their operations to avoid fines, an official surnamed Gao, with the publicity and education department of the provincial environmental protection bureau, said.The new regulation includes charges of 4,500 yuan (0) per ton for increasing chemical oxygen demand, a measure of the amount of oxygen used in a chemical reaction caused by chemical waste in water, or double what it costs to treat polluted water.Seven industries, including chemicals, textiles, iron and steel-making, and paper mills, which are believed to pose the biggest threat to water safety, will be subject to the fines.Companies discharging more than their quota of pollution will face fines of up to 1 million yuan. However, those that do not use up their quotas are welcome to trade the difference with other companies.

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BEIJING - China's quality control watchdog has rejected a Hong Kong media report which alleged the mainland had exported hairy crabs containing carcinogens to Taiwan, confirming that the mainland had not exported any hairy crabs to Taiwan so far this year."The mainland's quarantine authorities have not approved the exports as the two sides are still in talks about quarantine standards," said a spokesman with the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ ).Hairy crabs, mainly bred in East China's Jiangsu Province, have become a popular autumn delicacy in the mainland and have sold well in Taiwan, Hong Kong, Singapore, Japan and the United States.But in August the Taiwan authorities published new standards requiring the crabs to contain no detectable drug residues, despite an agreement met with the mainland in July."The new standards are too picky and have no scientific grounds, nor do they comply with the WTO rules," said the GAQSIQ spokesman."We have noticed that a group in Taiwan is trying to discredit mainland food products. Such politically driven acts will harm normal trade across the Taiwan Strait," said Li Weiyi, spokesman for the Taiwan Affairs Office of the State Council earlier this week.Official figures show more than 99 percent of the Chinese foods exported to the United States, the European Union and Japan were up to standard in the first half of the year.China's number one hairy crab exporter, Wuzhong District of Suzhou City, Jiangsu Province, sold 1,800 tons of hairy crabs abroad over the last two years.

The country's campaign to improve product quality and food safety has yielded very good results, Vice-Premier Wu Yi said in Weifang, Shandong Province, October 26, 2007. [Newsphoto]Weifang - The country's campaign to improve product quality and food safety has yielded very good results, Vice-Premier Wu Yi said on Friday.Despite that she urged: "We have to win this special war against poor product quality and supervision, enabling our people to eat without fear."Wu said the government has raised its investment in agriculture, especially in pesticide supervision and fertilizers management and to prevent fake products from entering the sector.Besides, authorities will strengthen supervision and inspection on vegetables and other food products in major cities, bringing all wholesale markets within the authorities' monitoring system.Officials are already monitoring all wholesale markets for agricultural products in 676 medium- and large-sized cities, Minister of Agriculture Sun Zhengcai said.Latest data suggest 94 percent vegetables and 95 percent aquatic products in cities have pesticide residue below the danger level.Also, more than 97.4 per cent of the pigs are slaughtered in registered abattoirs. The authorities closed down 602 illegal and 4,051 slaughterhouses in the first half of this year alone.Concerns over Chinese products safety prompted the government to formed a cabinet-level panel on food safety and quality control under the vice-premier in August.Eight categories of products are under the panel's scanner, including pork, drugs, agricultural products, processed food, toys and electric wires. The "special war" is aimed at improving product quality in four months.At a meeting in Weifang, Shandong Province, Wu lauded the province's advanced practice in product quality and food security management."Shandong's experience in standardized plantation of vegetables, aquatic products and some other agricultural products has been proved effective and worth promoting nationwide," Wu said.It brings irrigation and the condition of cultivable areas, particularly where chemicals are used, under a quality control system, which will be overseen by local officials, Shandong Governor Jiang Daming said.The province has taken the lead in the country to set up internationally recognized systems of quality standards, quality testing, attestation and supervision, securing a high standard of food quality from every link of production, processing and transportation.And more than 400,000 people in the province have attended into food safety education training sessions since August.

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Visiting Chinese Premier Wen Jiabao (L) is greeted by Japanese Prime Minister Shinzo Abe upon his arrival at Abe's official residence in Tokyo April 11, 2007. Wen arrived in Japan on Wednesday. [Reuters]TOKYO: Premier Wen Jiabao and his Japanese counterpart Shinzo Abe Wednesday agreed on concrete steps to build mutually beneficial strategic ties. Wen's three-day trip, the first by a Chinese premier in nearly seven years, comes six months after Abe went to Beijing to mend ties chilled by his predecessor Junichiro Koizumi, who repeatedly visited Yasukuni Shrine that honors Japan's war criminals of World War II. Yesterday, the two leaders declared their firm intention to move forward on rebuilding relations, signed agreements on energy and the environment and issued a joint statement that spelt out issues for cooperation. An environmental accord called for the two to work on a successor to the Kyoto Protocol on climate change by 2013. The other agreement committed the two nations to cooperate on developing energy resources and building nuclear power plants in China. In the joint statement, the two vowed to seek ways to jointly develop gas deposits in disputed waters, pursue the denuclearization of the Korean Peninsula, and strengthen defense cooperation. During their talks, Wen said that the history issue is crucial for bilateral relations as it affects the national feeling of the Chinese people. It could be an obstacle to improved ties if not handled well, he added. He urged the Japanese leaders to face up to history and "open up good, forward-looking relations toward a beautiful future". Wen also reiterated China's position on the Taiwan question, hoping the Japanese side can realize the acute sensitivity of the issue and deal with it properly. Abe reiterated Japan's commitment to the principles enunciated in the three joint documents directing bilateral relations. On disputed waters in the East China Sea, the two sides agreed to speed up the negotiation process to seek a solution that is acceptable to both. The two sides pledged to make the area "a sea of peace, cooperation and friendship". Wen arrived in Tokyo just hours after the two countries signed an accord lifting Beijing's four-year ban on Japanese rice imports. China banned imports in 2003, claiming Japanese rice did not meet the requirements of its revised quarantine system. Wen is scheduled to address Japan's parliament today. He will also meet Emperor Akihito and co-chair an inaugural meeting with Abe on a high-level economic dialogue that will involve officials at the ministerial level and above. He will even join in a game of baseball - a popular sport in Japan - tomorrow with college students in western Japan before returning. Meanwhile, Abe accepted an invitation to visit China again this year. Though no timetable has been set, it is widely believed that he will visit in the autumn to attend the celebrations marking the 35th anniversary of the normalization of bilateral relations. His trip is seen as setting the stage for President Hu Jintao's first visit to Japan next year.

BEIJING - The National Grid of China said power could be restored partially within the day in the worst-hit region in central China's Hunan Province, ending the eight-day blackout caused by snow.Local residents buy candies for the upcoming Spring Festival in Chenzhou, Central China's Hunan Province, February 1, 2008. Power supply in Chenzhou City has been cut off during the past eight days, leaving thousands of households in dark and coldness. [Xinhua] "Many power facilities in Hunan were damaged due to repeated extreme weather changes," said Yin Jijun, deputy director of the international liaison department of the National Grid. "As the weather deteriorated again, the regional power grid, in particular the southern grid in the province, is facing acute challenges."A new round of snow started to hit central, south and east China regions on Friday, adding to the woes caused by previous snowfalls.Hunan is one of the hardest-hit areas for the past three weeks. Power supply in Chenzhou City has been cut off during the past eight days, leaving thousands of households in dark and coldness. Hengyang and Yongzhou cities also experienced blackouts in some areas.To address the situation, Yin said the National Grid is working all out to ensure security of the main power network in southern Hunan, especially in Chenzhou."We will strive to partially restore electricity supply in Chenzhou on Saturday," Yin said.