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BEIJING, Sept. 14 (Xinhua) -- China on Monday paid tribute to 100 heroes and models who made outstanding contributions to the founding of New China and 100 others who have inspired the nation in the past six decades. Top Chinese leaders including President Hu Jintao met with representatives of the heroes and models and relatives of the deceased ones who were here to attend a symposium honoring them. Top Communist Party of China (CPC) and state leaders Hu Jintao (C, 1st row), Wu Bangguo (4th R, 1st row), Wen Jiabao (4th L, 1st row), Jia Qinglin (3rd R, 1st row), Li Changchun (3rd L, 1st row), Xi Jinping (2nd R, 1st row), Li Keqiang (2nd L, 1st row), He Guoqiang (1st R, 1st row) and Zhou Yongkang (1st L, 1st row) pose for a group photo with the representatives attending a symposium in Beijing, capital of China, Sept. 14, 2009. The symposium honoring 100 heroes and models who made outstanding contributions to the founding of New China and 100 others who have inspired the nation in the past 60 years was held in Beijing on MondayTop legislator Wu Bangguo, Premier Wen Jiabao, top political advisor Jia Qinglin, and other senior leaders including Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang also met with the delegates. Hu, also general secretary of the Communist Party of China (CPC) Central Committee, greeted the delegates at the Great Hall of the People. He congratulated the representatives on the honor, offered his condolences to the deceased heroes' relatives, and paid homage to all those who have made great contribution to the birth and growth of New China. Li Changchun, member of the Standing Committee of the CPC Central Committee Political Bureau, attended the symposium and delivered a speech. Li Changchun (C), a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, addresses a symposium in Beijing, capital of China, Sept. 14, 2009. "The fact that the top leaders met with the delegates and some of their relatives highlights the nation and the Party's care for the heroes," said Li. The move of selecting the heroes and models was an important part of the activities to celebrate the 60th anniversary of the founding of the People's Republic of China (PRC), he said. Li said the process itself was also a patriotic lesson for officials and the general public. The activity, launched in May, attracted about 100 million people to cast votes, sources with the organizer of the activity said. And the 200 heroes were finally picked out from 300 candidates. "The heroes, despite their differences in historical time and post, share many things in common, such as loyalty to the country, love for the people and selfless devotion," Li said. These were spiritual treasures formed in the great history of Chinese revolution, construction and reform led by the Party, he said. Li called on the whole nation to learn from these heroes and pass down their moving stories and lofty spirit to generations to come. "Their noble spirit should be a lasting inspiration for the people to make new achievements," said Liu Yunshan, head of the Publicity Department of the CPC Central Committee, who presided over the symposium. Delegates like Li Yazhong, a descendent of Li Dazhao (1888-1927), one of the main founders of the CPC, and Zhang Yunquan, an official with the Bureau for Letters and Calls in eastern Jiangsu Province, gave speeches at the symposium.
UNITED NATIONS, Sept. 23 (Xinhua) -- Chinese President Hu Jintao on Wednesday pledged to further assist the development of other developing countries when addressing the UN General Assembly during its the general debate. "As a responsible and major developing country, China has always made common development an important aspect of its foreign policy," Hu said in his speech. "We have made great efforts to provide support and assistance to other developing countries, and fulfilled our commitment under the UN Millennium Declaration," he said. To further assist other developing countries, the Chinese president said, China will increase support for those hit hard by the global financial crisis, earnestly implement relevant capital increase and financing plans, intensify trade and investment cooperation and help raise their capacity for risk-resistance and sustainable development. "China will continue to implement the measures announced at the UN High-level Event on Millennium Development Goals (MDGs) to assist other developing countries in speeding up development and facilitate the attainment of the MDGs," he added. Chinese President Hu Jintao addresses the 64th United Nations General Assembly at the UN headquarters in New York, Sept. 23, 2009. The 64th session of the UN General Assembly kicked off its general debate on WednesdayOn China's assistance to Africa, Hu said, China will follow through on the measures announced at the Beijing Summit of the Forum on China-Africa Cooperation, increase assistance to Africa, expand trade and investment, provide human resources and technological support for African countries in such areas as agriculture, health, education and disaster preparedness. Hu also promised China's efforts to promote regional monetary and financial cooperation, maintain financial and economic stability and push forward financial cooperation and trade in the region. He said China has so far provided assistance to more than 120 countries, canceled debts for 49 heavily-indebted poor countries and least developed countries, and extended zero-tariff treatment to commodities from over 40 least developed countries. Hu noted that, since the outbreak of the global financial crisis, China has kept its currency's exchange rate basically stable, which helps maintain healthy international trade. China has taken an active part in the trade finance program of the International Finance Corporation and provided financing support to the International Monetary Fund, which will be mainly used to help developing countries, Hu said. "We have established the China-ASEAN Investment Fund, provided credit support to the members of the Shanghai Cooperation Organization, and actively contributed to the building of an East Asian foreign currency reserve pool," he added.

support to the Chinese government's measures to maintain social order and stability. In an interview with Xinhua on Friday, Bernard Boussougou Moungonga, a researcher with a Gabonese humanities institute, said he backed the Chinese government's measures to maintain stability in Xinjiang. Moungonga condemned the separatist forces operating outside China for attempting to split China, adding that all these schemes are doomed to fail. It is imperative for leaders of any country to brush aside intervention by external forces and guarantee the safety of their citizens' life and property, he said. Moungonga, who has visited Xinjiang as a visiting scholar, said he was deeply impressed by the fact that all ethnic groups in Xinjiang live in harmony and their culture and traditions are fully respected. Syrian Ambassador to China Khalaf Al-Jarad said Friday that his country supports the Chinese government in taking necessary measures to safeguard security, stability and public order in Xinjiang. In a written interview with Xinhua, Al-Jarad said the Syrian government fully supports China's sovereignty and territorial integrity, and is against any interference in the country's internal affairs by finding whatever excuse. He said he had been very much impressed by Xinjiang's prosperity when he visited China in 2003 in his capacity as editor-in-chief of a Syrian newspaper. He said that the 56 ethnic groups in China share equal rights and jointly shoulder responsibilities to develop the country. "People of different ethnic groups in Xinjiang who believe in faith lead normal religious lives, live together in peace and harmony like brothers and sisters, and are content with their lives. This is typical of the Chinese society at large," Al-Jarad said. The ambassador said he believed the July 5 riot was aimed at disrupting stability, undermining the harmony and close links among the various ethnic groups, and undercutting social development. He said it was necessary for the Chinese government to take actions to protect Xinjiang's stability, restore law and order, and prevent extremists and outside forces from disrupting Xinjiang's peace and stability. Al-Jarad said violence has nothing to do with religion, and goes against the religious doctrines of peace and fraternity. Li Liangyi, a Singaporean expert on tourism told Xinhua that the July riot in Urumqi disrupted the harmonious development in Xinjiang, and is definitely against the will of the general public in China. He said he is confident that the Chinese government will take measures in accordance with the law and promptly restore order in Xinjiang. It is the responsibility of the government to maintain ethnic harmony and safeguard social stability and economic development, Li said. A handful of people undermined social harmony in Xinjiang and caused great loss of life and property, he said, adding that their violent acts must be condemned. In an interview with Xinhua, Yakov Berger, a senior research fellow with the Institute of Far Eastern Studies of the Russian Academy of Sciences said that the July 5 violence in Xinjiang seriously affected the stability of the region, and the Chinese government's measures to maintain social order are fully appropriate. He said the separatist forces from inside and outside the country had plotted to create social unrest and undermine ethnic unity, so it is necessary for the Chinese government to take measures to prevent the recurrence of similar incidents.
BEIJING, July 29 -- The securities watchdog is mulling further measures to plug the loopholes that showed up in the latest round of initial public offerings (IPO), according to Shang Fulin, chairman, China Securities Regulatory Commission (CSRC). The CSRC is generally satisfied with the results of the recent reforms, but also identified a number of areas that need to be improved. One of these areas is the lack of a provision to block institutional investors from taking advantage of the new allotment system by masquerading as personal investors in their IPO applications. "Some institutional investors were known to have circumvented the subscription limits on their accounts by making applications through personal investor accounts opened with borrowed ID cards," said Lu Junlong, analyst, China Finance Online. "Stockbrokers keen on earning commission fees usually turn a blind eye to such irregularities," he said. People watch the index screen at a stock market in Shanghai, China, July 1, 2009. The CSRC said it is planning to take steps to safeguard individual investors' interests. This has defeated, to some extent, the primary objective of the reform, of increasing the allotment of new shares to personal investors. In the past, the deluge of applications from well-financed institutional investors had largely crowded out applications from individual investors. Because of the loophole, the ratios of allocation of newly issued shares to personal investors in the past several IPOs were still deemed too low. For example, the ratio of allocation in the IPOs of Guilin Sanjin Pharmaceutical, one of the first companies to obtain a stock exchange listing after the lifting of the IPO suspension, was only 0.17 percent. The ratio of allocation in the Sichuan Expressway IPO was 0.26 percent, while it was 2.83 percent for China State Construction Engineering Corp's public float. "The ratio of allocation to subscription is at a low level, similar to the lottery system in the past," said Zhu Hongbin, an investor with over 10-year experience in the market. Considering the wide price gap between the primary and secondary markets, many institutional investors borrowed heavily from banks to subscribe for new shares. Easy credit and cheap money have given institutional investors a much greater edge over small investors in the fight for IPO allotments. "As long as the interbank seven-day repurchase rate stays below 3 to 4 percent, we can make profits by subscribing to new shares," a Shanghai-based fund manger said, who refused to be named. The investors' feverish penchant for newly listed stocks saw Sichuan Expressway Co soar 202 percent on debut. The bourse suspended trading in the scrip for two times to allow for a cooling off period on the first day. The company's issue price was 3.6 yuan, nearly 20 times the PE (price-to-earnings) ratio. After collective bidding, the opening price soared to 7.6 yuan and the shares finally closed at 10.9 yuan after touching a high of over 15 yuan. The high price was beyond the expectation of many analysts. According the reports from 23 securities firms, most analysts thought the reasonable price could be around 5 yuan. Guotai Junan Securities Co was the most optimistic, which estimated the shares could be worth around 7 yuan. The shares subsequently began to slump and closed at 9.81 yuan, with many individual investors burning their figures. According to the Shanghai Stock Exchange, individual investors were the main buyers for the new shares of Sichuan Expressway on its first trading day. Among the 74,000 accounts that bought shares on that date, about 99.9 percent was personal accounts. Institutional investors, including fund mangers, securities firms and insurance companies, did not join the speculation. According to CSRC Chairman Shang Fulin, the regulators are working on a plan to educate individual investors and also exploring effective mechanisms to protect investors' rights.
ANCHORAGE, Sept. 12 (Xinhua) -- Top Chinese legislator Wu Bangguo on Saturday met with Alaska Governor Sean Parnell here before winding up his week-long official goodwill visit to the United States. Wu, chairman of the Standing Committee of China's National People's Congress, said he was glad to have Alaska as the final stop in his visit to the United States. Apart from meeting with U.S. government and parliament officials, Wu said he also conducted comprehensive contacts with people from all walks of life in the U.S. during his stay. The major topics included how to strengthen the Sino-U.S. cooperation, how to join hands to face challenges and how to realize common development of the two countries, Wu said. Wu Bangguo (1st R), chairman of the Standing Committee of China's National People's Congress, meets with Governor of Alaska Sean Parnell, in Anchorage, Alaska of the United States, on Sept. 12, 2009. Wu noted that, Alaska, a state with rich natural resources and a closest U.S. state to China, enjoys incomparable advantages in cooperation with regions of China. He wished that the Alaska state will further encourage its entrepreneurs to take the opportunities and expand new cooperation scopes in economy and trade with China, and boost exchanges and cooperation in the fields such as renewable energy, climate change, science and technology, and education. During the meeting, Parnell said he was pleased that Chairman Wu and the delegation chose to stop over in Alaska during their visit to the United States. China is an important market for Alaska, Parnell said. He and Wu had a good conversation on topics ranging across renewable energy, environmental conservation, natural resources development, Alaska seafood and tourism opportunities, he added. At the invitation of U.S. Speaker of the House of Representatives Nancy Pelosi, Wu started to visit the U.S. on Sept. 6. His trip to the United States was the first official visit to America by a top Chinese legislator in the past two decades. Wu met with U.S. President Barack Obama, Vice President Joe Biden and Secretary of State Hillary Clinton during the stay. Before visiting the Unites States, Wu has visited Cuba and the Bahamas.
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