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BEIJING, Oct. 13 (Xinhua) -- Chinese top political advisor Jia Qinglin Tuesday urged more efforts to perfect the system of multi-party cooperation and political consultation under the leadership of the Communist Party of China(CPC). Speaking at a seminar to mark the 60th anniversary of the founding of the Chinese People's Political Consultative Conference (CPPCC), CPPCC Chairman Jia said the system is an inevitable choice for China to press ahead with its social and political development. Efforts should be made to give full play to the unique advantages of the CPPCC, the top political advisory body, he said. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), speaks at a seminar marking the 60th anniversary of the founding of the CPPCC, in Beijing, capital of China, on Oct. 13, 2009. The system is in conformity with China's national conditions and has strong Chinese characteristics, according to Jia. The system has made important contributions to the country's modernization drive, he said, adding it also played an irreplaceable role in the country's revolutionary cause, reform and opening-up endeavor and the construction of a well-off society. Jia also urged efforts to embrace innovation in the development of the system. The CPPCC was founded in 1949, the year that the People's Republic of China was founded.
PYONGYANG, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao and Kim Jong Il, top leader of the Democratic People's Republic of Korea (DPRK), on Monday attended a grand celebration marking the 60th anniversary of the establishment of the diplomatic relations and the closing ceremony of the China-DPRK Friendship Year. In a speech delivered at the May Day Stadium in Pyongyang, Premier Wen said China and the DPRK have understood, supported and helped each other during the past 60 years despite changes in the international situation. The ruling parties and peoples of China and the DPRK have steadily promoted the development of the bilateral ties, contributing to regional peace and stability, Wen said. This year marks the China-DPRK Friendship Year, featuring a variety of celebrations and events of exchanges, which have enhanced the friendship between the two countries, strengthened cooperation in various fields and injected new vitality into the bilateral ties, Wen said. Currently, China-DPRK relations have arrived at a new historic point, he said. China is ready to join hands with the DPRK to further consolidate and develop the traditional friendship, expand friendly exchanges and cooperation to better serve the well-being of both peoples, and make greater contribution to regional peace and stability, he noted. DPRK Premier Kim Yong Il, who also attended the event, said the establishment of DPRK-China relations 60 years ago was an epoch-making event and the DPRK is firmly determined to consolidate and develop the DPRK-China friendship. The events marking the China-DPRK Friendship Year have effectively promoted the friendship and trust between the two peoples, he said. The DPRK is ready to make joint efforts with China to further the friendly, cooperative relations, he said. During the celebration, the leaders watched the grand gymnastic and artistic performance "Arirang" presented by DPRK artists.

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, Oct. 7 (Xinhua) -- Chinese President Hu Jintao on Wednesday called on police in Beijing to continue efforts in protecting public stability in the capital city, especially in areas near the Tian'anmen Square. Hu, also general secretary of the Communist Party of China (CPC) Central Committee, made the remarks when meeting with representatives from Beijing's special police forces, traffic police, and armed police who were stationed in the Tian'anmen Square. Chinese President Hu Jintao (front) stands in a subway train as he inspects the management of the subway system in Beijing Oct. 7, 2009. Hu made a tour in the Chinese capital to inspect the city's order in sectors as public security, traffic and tourism during the National Day holidaysThe president noted the police had made outstanding contributions to the success of the country's National Day celebrations, which included a military parade, a grandiose pageant and an evening gala in the Tian'anmen Square, by maintaining public order in Beijing. The police should further improve their working capabilities as well as their equipment in order to better protect public stability in Beijing and in areas near the Tian'anmen Square, he said. President Hu also took the city's newly completed subway to the Summer Palace in northwestern Beijing. Chinese President Hu Jintao (front C) listens as he visits a police station in central Beijing Oct. 7, 2009. Hu made a tour in the Chinese capital to inspect the city's order in sectors as public security, traffic and tourism during the National Day holidays.During his 30-minute ride on the subway No. 4, which just started operation in late September, Hu told employees of the subway line to provide the public with fast, safe, convenient and comfortable services, in order to encourage more people to use public transportations. In the Summer Palace, Hu also greeted the park's employees, visitors as well as volunteers working in the scenic spot. Liu Qi, secretary of the CPC Beijing Municipal Committee, Ling Jihua, member of the Secretariat of the CPC Central Committee and director of General Office of CPC Central Committee, and China's police chief Meng Jianzhu accompanied Hu in Wednesday's visit.
YAN'AN, Shaanxi Province, Sept. 5 (Xinhua) -- Party cadres should always keep clean and stay away from corruption, a senior Communist Party of China (CPC) official said Saturday. "Party cadres should withstand tests of the country's reform and opening-up and the Party's ruling status," said Li Yuanchao, head of the Organization Department of the CPC Central Committee. Li, also a member of the CPC Central Committee Political Bureau, made the remarks as the Autumn term started Saturday in China Executive Leadership Academy Pudong (CELAP), China Executive Leadership Academy Jinggangshan (CELAJ) and China Executive Leadership Academy Yan'an (CELAY). "As Party cadres are being surrounded with more and more temptations, the education on resistance against corruption must be a vital task as well as the core content of Party spirit training," Li said. The three schools, approved by the CPC Central Committee, are national training bases in fields such as CPC history and Party building theory, for government officials, enterprise managers and army officials. "Schools should make it an important mission during education and training to strengthen Party spirit, ideal faith and good style, so as to play a unique role in promoting Party cadres' uprightness," he said.
来源:资阳报