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BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications.     The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said.     The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October.     In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years."     The regulation went into effect on Thursday.     In the draft version released in August, companies were allowed to pay dividends either in cash or stock.     The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency.     "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule.     Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said.     A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress.     In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market.     Such action was banned in the draft version released in late September to solicit public opinion.     Share buy-back through bidding at stock exchanges also no longer needs regulatory approval.     The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

CHENGDU, June 21 (Xinhua) -- Jiang Xiaojuan, a policewoman who was well-known to the Chinese public for feeding infants with breast milk after the May 12 quake, has been officially promoted to a ranking post at a local police bureau, despite a nationwide controversy about the promotion.     Jiang was appointed a member of the Communist Party of China (CPC) Committee of the Jiangyou Public Security Bureau and the bureau's vice commissar on Thursday, an official surnamed Su from the organization department of the Jiangyou CPC Committee, Sichuan Province, told Xinhua on Saturday.     Jiang was currently on a speaking tour and would assume office as soon as she returned to Jiangyou, said the official.     Su denied media reports that the promotion had been suspended because of controversy. Jiang Xiaojuan, a policewoman, is feeding an infant with breast milk after the May 12 quake    Many people voiced objections when the Jiangyou government sought public opinion after making the promotion. They said an official position should not be used to promote a moral model.     "Such a promotion would fuel speculation activities," wrote a netizen dubbed "West Line" at the leading online forum forum.xinhuanet.com, while another netizen said promotion should depend on one's competence.     There were also many supporters of Jiang's promotion, saying that what she did showed she is a good public servant.     Su, the Jiangyou official, applauded the debate, saying "it shows the public are concerned on promotions of government officials and their enthusiasm for politics."     However, he said "we have gone through due procedures and believe she is qualified for her new post."     Jiang, 30, a mother of a six-month old, left her own baby with her parents and took part in the disaster relief work after the Sichuan quake.     Moved by the plight of babies separated from their mothers, she ended up breast-feeding nine of them. The pictures of her breast feeding spread across the country, which earned her a nickname "the police mum."     She has since been awarded laudatory titles of "hero and model police officer" and "excellent member of the Communist Party" by the Ministry of Public Security and the Organization Department of the CPC Central Committee.

BEIJING, June 16 (Xinhua) -- Prevention of secondary disasters, such as landslides and mud-rock flows, amid rain storms and frequent aftershocks following the May 12 earthquake was an "urgent task", said the quake relief headquarters of China's State Council on Monday.     "New geological disasters can happen at any time due to the long-lasting aftershocks and much stronger precipitation as the country's rivers enter the flooding season," the headquarters warned after a meeting presided by Premier Wen Jiabao.     The quake zone and the rain-lashed southern regions are the focuses of the prevention work, according to the meeting.     Work must be sped up to remove the dangers of quake-formed lakes, quake-damaged dams and hydropower plants as well as dikes of major rivers, the headquarters said.     The headquarters urged local governments and related departments to strengthen monitoring and alarms of rains, floods and aftershocks, and told quake-hit regions to base their recovery plans on geological hazard assessment. Chinese Premier Wen Jiabao (C Back) presides over the 19th meeting of the quake relief headquarters of the State Council (Cabinet) in Beijing, capital of China, June 16, 2008. The meeting focused on the prevention of secondary disasters of quake    Up to 50,000 residents were asked last week to move from highly-dangerous terrain in Wenchuan, epicenter of the May 12 earthquake, to shelters built on open and solid ground before June30 to avoid secondary disasters.     As of Monday noon, 12,437 aftershocks had been detected since the 8.0-magnitude quake struck southwest Sichuan Province, official figures show.     By Sunday, at least 57 people had been killed and 1.27 million people relocated as rainstorms and floods ravaged nine provinces and region in south China.

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.