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TEL AVIV, Israel, Sept. 24 (Xinhua) -- Israeli President Shimon Peres Thursday lauded the great achievements made by China over the past 60 years when attending a reception held by Chinese Embassy in Israel to celebrate the 60th anniversary of the founding of the People's Republic of China.     At the reception held at the residence of Chinese Ambassador to Israel Zhao Jun, Peres stressed that China currently plays an important role in the world.     He said that due to the great achievements made by China over the past 60 years, Chinese people are now becoming more affluent and confident, noting that "Israel loves China."     Highlighted the important role China is playing in the world, Peres said that "a peaceful China is a peaceful world."     Before Peres' speech, Zhao said that the reception was also held to celebrate the 17th anniversary of the establishment of diplomatic relations between China and Israel.     China has made remarkable achievements over the years, said the Chinese ambassador, adding that despite the progress, China remains a developing country and will continue its development.     He added that the relationship between China and Israel is continuing to develop in many fields, while China is now Israel's biggest trading partner in Asia.     Zhao also mentioned the "Experience China in Israel" event, which will be held in October in Israel in a bid to show the development of China in many domains: education, economy, technology and especially the Chinese contemporary culture.

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.

BEIJING, Sept. 14 (Xinhua) -- China is to launch a two-year campaign to fight corruption and misconduct in the construction sector, the Supreme People's Procuratorate (SPP) said Monday.     The move aimed to crack down on offences such as embezzlement, bribery and misconduct in the construction sector and improve the system to prevent offences.     Zhang Geng, SPP deputy procurator general, said the procuratorates nationwide had investigated 16,830 bribery cases in the sector from January 2006 to June 2009, accounting for 46 percent of all commercial bribery cases during that time.     The campaign will focus its efforts on offences such as corruption resulting in substandard construction and giving the green light to construction without a permit.

HONG KONG, Aug. 29 (Xinhua) -- China has made great progress in gender equality and empowering women in the past 60 years, well on track to achieve the Millennium Development Goals (MDGs) by 2015, said a senior UN official on Saturday at the Asia Pacific Women Forum held in Hong Kong.     Khalid Malik, the United Nations Resident Coordinator and the UN Development Program resident representative in China, quoted Chairman Mao Zedong's famous remarks "Women holding up half of the sky" to review China's good will and determination in promoting gender equality.     He noted that the People's Republic of China has witnessed important progress since its founding nearly 60 years ago, with gender equality as the country's basic national policy and one of the core elements to pursue a harmonious society.     Six years away from the deadline of MDGs, China is now well on track for further progress to meet the goal in promoting gender equality, said Malik.     "There is almost no gender disparity to Chinese women's access to a living market, and there is much that the Asia-Pacific region can learn from China's lessons," he said.     The eight MDGs, set by world leaders at a UN summit meeting in 2000, also include relieving poverty, popularizing primary education, reducing child mortality and ensuring environmental sustainability.     As the Asia-Pacific region emerges stronger than any other one from the undergoing global financial crisis, he also believed the women in the region have a real prospect in redefining and strengthening their role in economy and society amid "a time of great changes".     "Women are the driving force to overcome poverty and hunger, fight illiteracy, prevent the spread of diseases and promote stability," he said.     More efforts were needed yet, Malik added. He urged both China and the whole region to eliminate even more bias towards empowering women and to bring the gender equality to a whole new level on the foundation of all the progress that has been made so far.

BEIJING, Sept. 18 (Xinhua) -- The Communist Party of China (CPC) central leadership vowed Friday to enhance intra-Party democracy by improving Party congress and election systems.     Less than two weeks ahead of the 60th anniversary of the founding of the People's Republic of China (PRC), the 17th CPC Central Committee made a consensus at its fourth plenary session which ended Friday, calling for bettering the democratic decision-making mechanism within the Party in order to maintain the CPC's centralization and unity.     After the four-day close-door meeting, the CPC Central Committee agreed in a communique upon pushing forward intra-Party democracy, which allows broad representation of Party-wide wills and propositions, and, subsequently, drives people's democracy.     Hu Jintao, general secretary of the CPC Central Committee, said at the 17th CPC National Congress on Oct. 15, 2007, "We will expand intra-Party democracy to develop people's democracy and increase intra-Party harmony to promote social harmony." Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, delivers a work report at the Fourth Plenary Session of the 17th CPC Central Committee, which was held from Sept. 15 to 18 in Beijing, China"The realization of intra-Party democracy must rely on the guarantee of all Party members' democratic rights to know, to participate, to vote and to supervise all internal affairs of the Party," Hu, also Chinese president, said at another occasion months ago.     Yu Keping, a prominent theorist who serves as deputy director of the CPC Central Compilation and Translation Bureau, said people's democracy was the ultimate goal of China's democratic politics, whereas the Party's internal democracy spearheads to achieve the ultimate goal.     Political scientists said the CPC's stance of institutionalizing itself towards a more transparent and democratic ruling party reflects its increasing preparedness for the new situation, which was summarized by the latest communique as "long-term, complicated and draconian tests" for the CPC's ruling capability, the reform and open-up policy, adoption of a market economy and adaptation to outside circumstances.     Wang Changjiang, a scholar at the Party School of the Central Committee of the CPC, said "the new situation" might be a combination of diversified problems, such as the economic downturn, mass incidents and ethnic issues.     Wang's alert coincided with the sober-minded perspective of the CPC central leadership, which says in the communique that "it has never been so onerous and pressing that the Party must effectively manage and discipline itself."     One solution to those challenges is to beef up teams of "high-caliber cadres" through democratic, open, competitive and merit-based selection channels.     The communique said the Party should encourage best people to stand out from peers to take key Party or governmental posts.     Xu Yaotong, a researcher at the China National School of Administration, said direct election of officials, which was a foundation of intra-Party democracy, could start from the county level.     Some provinces, such as southwestern Sichuan and eastern Jiangsu, have tried out direct elections, in which grassroots candidates ran for township-level Party leadership.     With the idea of improving the Party congress system, the CPC is expected to try to mandate more power to delegates to various levels of congresses, who hold equal voting rights, regardless of official status, for decisions at Party congresses.     The ruling CPC is the largest political contingent in China, with about 76 million members growing rapidly from 4.4 million in 1949 when the PRC was founded.

来源：资阳报