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BEIJING, June 6 -- Shareholders of China Vanke Co, the country's largest publicly traded property developer, have approved a decision to spend 100 million yuan to rebuild homes in quake-stricken Sichuan.     The company has been under fire from netizens since the earthquake after Wang Shi, its high-profile chairman, announced the real estate giant would donate 2 million yuan to the quake-hit areas and told his employees not to donate more than 10 yuan.    In the face of the ensuing barrage of criticism by the media and netizens, Wang apologized on his blog. At yesterday's meeting, he apologized to shareholders as well: "I want to apologize unconditionally to all shareholders, I won't try to defend myself."     Wang also admitted his comments about quake donations have damaged Vanke's brand image and he was sorry for that.     As a lesson from this episode, Wang said, Vanke would have a spokesperson in the future and try to desist from doing anything that hits its share prices, as it did this time. Workers rebuild a road between quake-hit Dujiangyan city and Wenchuan county."If Vanke's performance suffers because of my personal comments, I will resign immediately," said Wang.     Some shareholders, however, worry the apology may have come too late. "As a public figure, he should learn from this experience," said a shareholder who preferred not to be named.     Analysts said the meeting and Wang's apology will take some pressure off Vanke.     "It is not easy for a public figure like Wang Shi to apologize - either in public or in front of shareholders," said Zhang Luan, an analyst from Haitong Securities. Zhang said the decision of the shareholders to clear the funding also reflects the company's determination to contribute to the relief work in a big way.     Vanke's investments in Sichuan will be made over the next three to five years, Vanke had said in a previous statement to the Shenzhen Stock Exchange.     The May 12 earthquake in Sichuan province destroyed 5.4 million homes and damaged 21.4 million, according to the Ministry of Civil Affairs. More than 12 million people left homeless by the earthquake will have to be relocated.     "Vanke may build anti-quake homes there to broaden its property development," Bloomberg quoted Liu Xihui, a real estate analyst at Pingan Securities Co, as saying. "More developers may follow suit."     Vanke rose 4.7 percent to 20.5 yuan in Shenzhen trading on Wednesday. The stock has dropped 29 percent this year after almost tripling in 2007. Trading was suspended yesterday because of the meeting.

BEIJING, Aug. 7 (Xinhua) -- Efforts should be made to increase power production and guarantee supply for both the Olympic Games and stable economic operation, said Vice Premier Li Keqiang on Thursday.    With the summer energy consumption peak and the Games, power supply is a heavy task for relevant organizations, Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said while inspecting Datang Group, a major power supplier in Beijing.Li Keqiang (C), Chinese Vice Premier and member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, inspects Datang Corporation in Beijing, capital of China, Aug. 7, 2008.He said that to ensure safe, stable power supply and generation, enterprises should pay special attention to production safety and improve the management and maintenance of power facilities.    He also urged all organizations to use energy-saving technologies and products and promote education on energy-saving among the public to reduce energy waste.

BEIJING, April 2 -- China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said Tuesday.     The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.    The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.     "But the bank has no timetable for a Hong Kong listing yet," said its vice-president Xie Zhichun. "And the Shanghai listing plan will be further discussed by and is subject to approval from the board and shareholders."     Xie added: "The board may enlarge the A-share issue further to more than 10 percent of the enlarged share capital as we don't know whether we can realize a Hong Kong listing or not, but we expect to finish the Shanghai listing before the Olympic Games."     The bank has postponed inviting strategic investors as concerns are rising that the subprime crisis will worsen the finances of financial institutions, the bank said.     "We will restart the work after the strategic investors release their third-quarter report," said Li Jie, another vice-president of the bank.     The bank is a target for foreign investors given its low share price and large scale. It said earlier it will reserve a 20 percent stake for foreign strategic investors and would like to pick investors that can hold the bank's stakes for a long time.     The bank disclosed that Industrial Bank from France showed interest to invest in it, but the French banking scandal hindered talks.     It will restart inviting strategic investors after its Shanghai listing, the bank said.     The bank is 24.16-percent-owned by China Everbright Group and 21.4-percent-owned by Hong Kong-listed China Everbright Ltd.

BEIJING, June 22 (Xinhua) -- Shang Fulin, chairman of the China Securities Regulatory Commission (CSRC), on Sunday vowed to deepen reform and boost regulation to promote a stable and healthy development of the capital market.     The CSRC would rationally balance the market supply and demand, and regulate the pace of fund-raising, Shang told an interior meeting in Beijing.     The stock regulator would encourage and steer funds into the market for long-term investment and gradually improve the inner market stabilizing mechanism.     China's benchmark Shanghai Composite Index have fallen 54 percent from its all time high in mid October 2007. The steep decline came amid fears that the tightening measures would erode corporate profits and the equities supply would overwhelm demand.     Analysts said the regulator has been delaying approvals of initial public offerings over the past couple of months to stabilize market that was hard-hit by weak investor sentiment.     Shang noted the CSRC would boost cooperation with the prosecutors on crackdown on market manipulation, irregular information disclosure, and false information and rumors distributed to manipulate stock prices. Shang Fulin, chairman of the China Securities Regulatory Commission (CSRC)(    It would also cooperate with other financial regulators to closely watch the impacts of the domestic and overseas economic operation and the global financial market on the domestic capital market.     Shang said that during the process of market correction, some people deliberately spread rumors that disrupted market orders and increased volatility.

TIANJIN, Sept. 27 (Xinhua) -- China has full confidence and capability to overcome various difficulties to ensure sound and fast economic growth for an even longer period of time, said Premier Wen Jiabao on Saturday.     Addressing the opening ceremony of the 2008 Summer Davos Forum in the north China port metropolis of Tianjin, Wen said China is in the stage of rapid industrialization and urbanization, and has huge potential for economic growth. The important period of strategic opportunities for China's development will last quite a long time.     Despite the heavy snow and sleet storms and the devastating earthquake and a complex situation both at home and abroad the nation faced, China have overcome difficulties one after another and maintained the momentum of steady economic growth.     "There are many favorable conditions for China to maintain sustained and fast growth, such as abundant supply of labor and capital as well as huge potential of increased domestic consumption and investment demands, vast market and more competitive and dynamic enterprises," said Wen.     The demands for investment, consumption and export are growing in a more balanced way. The economic fundamentals in China remain unchanged and the economy is moving in the direction envisaged in the macro-economic control policy, he added.     The two-day forum, also known as the New Champions 2008, has attracted about 1,400 participants from nearly 90 countries and regions, including business elite and senior officials, to discuss topics about the theme "The Next Wave of Growth". The second Annual Meeting of the New Champions organized by the World Economic Forum is officially opened at Tianjin Binhai Convention and Exhibition Center in north China's Tianjin Municipality, Sept. 27, 2008

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