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BEIJING, June 14 (Xinhua) -- The China Ping An Insurance (Group), which had plans to buy a 22 billion yuan (3.2 billion U.S. dollars) stake in Shenzhen Development Bank (SDB), said Sunday that there are no changes in buying into the bank for the moment. There are no changes in the bank, and the stake purchase aims to improve Ping An's financial service and asset structure, said Zhang Zixin, general manager of the China's second largest insurer via a telephone news conference. Ping An and SDB will operate with their own plans. The management team of the bank will not change right now, according to the Frank Newman, president of SDB, and Richard Jackson, president of the Ping An Bank Co., Ltd. The company said last Friday it would buy 520 million shares from the U.S.-based TPG's Asian arm Newbridge Capital for 11.45 billion yuan by the end of 2010. Newbridge Capital is currently the top shareholder in Shenzhen Development Bank. The Ping An would acquire no more than a 30 percent stake in Shenzhen Development Bank after the two deals, and become the top shareholder instead. The Ping An Group, together with Ping An Life Insurance, currently holds a 4.68 percent stake in Shenzhen Development Bank.
BEIJING, May 1 (Xinhua) -- New rules to punish "statistical fouls" took effect Friday in China. The rules, the country's first of their kind, were jointly published by the Ministry of Supervision, Ministry of Human Resources and Social Security and the National Bureau of Statistics (NBS). The rules impose penalties for publication of fraudulent statistics or unauthorized dissemination of statistical data. Penalties including dismissal, demotion or unspecified "criminal punishment" face those who unlawfully alter statistics or ask others to do so and those who take revenge on people who refuse to fabricate data or blow the whistle on illegal acts. People who leak data concerning state secrets, personal information or business secrets, or who delay the reporting of statistics, would face similar penalties. The new rules require government offices to carefully maintain and deliver files of criminal cases and quickly release investigation results. Analysts said statistics are not just key data for the government, they are also vital in making decisions about social and economic affairs. Statistics "concern public credibility of both statistical authorities and the government," said Fan Jianping, chief economist with the State Information Center. As the world's fastest expanding economy, China has faced questions about the accuracy of its national economic data. The most recent figure drawing global attention was the decade-low, 6.1 percent year-on-year economic growth rate in the first quarter, which was released April 16. Since the country's opening-up, the quality of statistics has improved. An article on the Wall Street Journal China's website said China's economic statistics were actually very impressive, "with relatively timely, accurate, and comprehensive data published on a range of key indicators". But it also pointed out that there is a political economy of numbers with an incentive at both the local and national levels to massage the statistics. Many China watchers have noted the incentives for local officials to over-report growth to please their political masters. Officials who participated in drafting the new rules admitted that incorrect or falsified statistics have been released at times. Statistical corruption has been found in China for years to exaggerate local economic growth, which is often related to officials' promotion. In April, southeastern Fujian Province said that it handled 754cases concerning forged statistics last year and imposed fines up to about 1.38 million yuan (203,000 U.S. dollars). "As the country strives to cushion the impact of the global slowdown and maintain steady economic growth, they should use the rules as a deterrent to statistical fouls," said Wang Tongsan, an economist with the Chinese Academy of Social Sciences, a government think tank. Wang also suggested the government should reform the evaluation system for officials and increase training for statistical staff. China's top statistics official, Ma Jiantang, has vowed to improve the quality and credibility of government statistics after foreign media voiced concerns about the authenticity of Chinese economic data. "To keep (official statistics) true and credible is not only our duty, it also relates to our need to accept public supervision," Ma said in a statement on the NBS website.

BEIJING, June 8 (Xinhua) -- Chinese Vice Premier Li Keqiang met with U.S. special envoy for climate change Todd Stern on Monday, calling for more dialogues and substantial cooperation with the United States on climate change. "China has noticed the change of the U.S. government on climate change as well as the positive measures it has taken," Li told Stern during their meeting in the Great Hall of the People. To strengthen dialogue and cooperation between the two countries helps the growth of China-U.S. ties and benefits the international cooperation to fight against climate change, the vice premier said. Chinese Vice Premier Li Keqiang (1st R) meets with Todd Stern, U.S. special envoy for climate change, at the Great Hall of the People in Beijing, capital of China, on June 8, 2009. Stern said his country is ready to enhance dialogue and cooperation in energy, environment and climate change areas and work closely for the success of the Copenhagen Conference at the end of this year. A new protocol was expected to be born in Copenhagen by the end of this year to replace the Kyoto Protocol to prevent global warming and climate change. Li said China approves the fulfillment of the Bali Roadmap as the key mission of the Copenhagen Conference, and also approves promoting the implementation of the UN Framework Convention on Climate Change and the Kyoto Protocol in a comprehensive, efficient and consistent way. China would like to maintain the principle of "common but differentiated responsibilities" among developed and developing countries, actively participate in negotiations and play a constructive role to promote positive results from the conference, Li added. Stern expressed appreciation for China's achievements in recent years in fighting climate change. Li told the guest the Chinese government promotes sustainable development amidst efforts to address climate change, with conserving energy and protecting the environment as its national strategy.
BEIJING, May 12 (Xinhua) -- A senior Chinese official has called on discipline chiefs of the Communist Party of China (CPC) at all levels to take the initiative of being self-regulatory and clean-handed. He Guoqiang, secretary of the CPC Central Commission for Discipline Inspection, made the remark when meeting the Party's discipline chiefs at county level in Beijing on Tuesday. He, also a member of the Standing Committee of the CPC Central Committee Political Bureau, attached great importance to county-level discipline organs comprising the Party's discipline and inspection system. The official called on the chiefs to conduct a determined and uncompromising fight against all corrupted officials and behaviors to defend the people's interests. He urged Party committees and governments at all levels to improve the financial conditions, equipment and facilities of the county-level discipline organs for a better anti-corruption performance with the discipline inspectors. More than 2,000 secretaries of discipline organs at county level throughout the country have been gathered in Beijing to attend a focused training course, the first of its kind in the history of the CPC's discipline work. The training course, held in Party School of the CPC Central Committee, National School of Administration and training center of Supervision Ministry, has been aimed at improving their abilities to fight against corruption as well as maintain social stability.
BEIJING, June 8 (Xinhua) -- Chinese Vice Premier Li Keqiang met with U.S. special envoy for climate change Todd Stern on Monday, calling for more dialogues and substantial cooperation with the United States on climate change. "China has noticed the change of the U.S. government on climate change as well as the positive measures it has taken," Li told Stern during their meeting in the Great Hall of the People. To strengthen dialogue and cooperation between the two countries helps the growth of China-U.S. ties and benefits the international cooperation to fight against climate change, the vice premier said. Chinese Vice Premier Li Keqiang (1st R) meets with Todd Stern, U.S. special envoy for climate change, at the Great Hall of the People in Beijing, capital of China, on June 8, 2009. Stern said his country is ready to enhance dialogue and cooperation in energy, environment and climate change areas and work closely for the success of the Copenhagen Conference at the end of this year. A new protocol was expected to be born in Copenhagen by the end of this year to replace the Kyoto Protocol to prevent global warming and climate change. Li said China approves the fulfillment of the Bali Roadmap as the key mission of the Copenhagen Conference, and also approves promoting the implementation of the UN Framework Convention on Climate Change and the Kyoto Protocol in a comprehensive, efficient and consistent way. China would like to maintain the principle of "common but differentiated responsibilities" among developed and developing countries, actively participate in negotiations and play a constructive role to promote positive results from the conference, Li added. Stern expressed appreciation for China's achievements in recent years in fighting climate change. Li told the guest the Chinese government promotes sustainable development amidst efforts to address climate change, with conserving energy and protecting the environment as its national strategy.
来源:资阳报