Broadcasting Time: 08:00 AM, GMT:+8:00, 2008-12-26

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China SOE's

Chinese Vice Premier Zhang Dejiang said state-owned enterprises should continue playing the leading role with more reform and technological innovations and make more contributions to growth as the country faces economic hardship.

Speaking at a conference on the supervision and administration of state-owned assets, Zhang urged the SOEs to further expand domestic and international markets, develop self-innovation capabilities to raise competitiveness and deepen reform to increase vigor.

He also said it is necessary to strengthen management and supervision of SOEs so that they would take responsibility for preserving and increasing the value of the state assets.

Chinese Navy

A fleet commanders said on Thursday that the Chinese Navy's three-ship fleet awaiting sail to waters off Somalia has finished its preparations for the overseas deployment.

The Guided Missile Destroyer Haikou together with another destroyer, the Wuhan, and supply ship Weishanhu from the South Sea Fleet will set sail from a port in China's southmost city of Sanya on Hainan island Friday. The fleet will join in the multi-national escort forces patrolling of the Gulf of Aden and waters off the coast of Somalia.

China Egypt Ties

Visiting Chinese Vice Premier Li Keqiang said on Thursday that China is willing to further the strategic cooperative ties with Egypt which was established in 1999.

During his meeting with Egyptian President Hosni Mubarak, Li said the tenth anniversary of the establishment of the ties in next year should be an opportunity to further such a relationship.

Li suggested the two countries to deepen cooperation in trade, investment, transport, communications, tourism and human resources as well as explore new areas.

Meanwhile, Mubarak expressed beliefs that with the joint efforts of leaders of the two countries, Egypt-China strategic cooperative relations will make new progress.

Sanlu update

A Chinese court has accepted a bankruptcy petition for Sanlu Group which was at the center of a tainted milk scandal and is facing huge debts.

spokesman for the city government of Hebei provincial capital Shijiazhuang, Wang Jianguo, said that the Intermediate People's Court of Shijiazhuang City has accepted the petition of clearing made by a creditor of Sanlu.

Sanlu Group now faced 1.1 billion yuan or 160 million U.S. dollars of net debts

China Announces Circular on Mainland Enterprises Investing in Taiwan

The Chinese government is encouraging qualified mainland enterprises to make investments in Taiwan.

The National Development and Reform Commission issued a circular on Thursday, saying that mainland enterprises should follow the principle of mutual benefit when investing in Taiwan.

The regulation also says investors should take into account the unique challenges posed by the region, abide by local laws, and protect local employees' legal rights and interests.

better social welfare 4 farmers

China will improve social welfare enjoyed by the country's economically-challenged population especially in the rural areas.

At a national work conference Minister of Civil Affairs Li Xueju urges central and provincial governments to offer more subsidies to improve the rural minimum living allowance system.

Currently 4.4 percent of China's rural population receive the monthly subsidy handed out by local governments, but not all economically-challenged farmers are covered.

China to Consider Extreme Climate Events before Launch Large Infrastructure Projects

China says it will take extreme climate events into consideration before launching large infrastructure projects.

The move aims at minimizing losses caused by natural meteorological disasters.

A new regulation released by the government says related departments will need to evaluate the probability of extreme climate events and propose protective measures before starting large construction projects. If not, these projects will not be approved by the government.

Russian President Medvedev signs anti-corruption laws

Russian President Dmitry Medvedev signed a package of anti-corruption laws and instructed law enforcement bodies to implement them efficiently.

Medvedev, who pledged to curb corruption as he was sworn in as Russian president in May, submitted the bill to the lower house of the parliament early October. The legislature approved the bill in its third and final reading last Friday.

The laws require politicians and state officials to make a public declaration of their income, property and assets and that of their spouse and children. Officials are also supposed to report all incidents involving actual or possible corrupt activity.