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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 30 (Xinhua) -- China's central authorities issued a circular here Saturday urging candidates to practice fair play in direct elections of village heads amid complaints of bribery and other dirty tricks to win votes. "The villagers' committee election work in some rural areas is not properly conducted as bribery situation is grave and seriously harms the impartiality of election," said the circular jointly issued by the General Office of the State Council and the General Office of the Communist Party of China (CPC) Central Committee. According to the circular, candidates' behaviors must be "strictly regulated". Punishment ranging from disqualification from election, removing current post to criminal penalty will be given to those who try to win votes from villagers with money, violence or intimidation and those who cheat in vote count. Villagers have the rights to report any improper behaviors of the candidates and such reports should be investigated and managed immediately, the circular said. "Currently, the country's rural areas are experiencing fresh reform and farmers' ideas are also undergoing deep changes," said the circular." Improving the work of election will help ensure villagers to practise their rights and develop grass-root democracy." In addition, government organizations at provincial, city, county and township levels should set up special departments to regulate and guarantee the smooth run of village elections. According to the circular, related organizations are also urged to "carefully" deal with post-election issues, such as auditing the work of former villagers' committees, ensuring former committee members' social welfare and even comforting candidates who lose. A villagers' committee in China's countryside is a mass organization of self-management comprising local villagers, usually five members that manage village affairs. China has introduced the practice of self-administration and direct elections at village levels since the Organic Law of Villagers' Committees was enacted in 1988. The law, which sets out basic principles to ensure democracy at a local level, states that any villager aged 18 years or over has the right to vote or stand as a candidate.
BEIJING, July 13 (Xinhua) -- Chinese Vice President Xi Jinping on Monday urged Communist Party members and government officials to put more efforts in finding and correcting problems that may hinder scientific development and taint the image of the Party. Xi, also member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the remarks during a meeting on the implementation of the Scientific Outlook on Development. In September 2008, the CPC launched a one and a half year campaign to study and apply the Scientific Outlook on Development, a doctrine adopted by the Party at the 17th CPC National Congress in October 2007. A total of 11 inspection teams were organized recently to check the results of the campaign in 16 provinces and autonomous regions as well as six central government departments including the Ministry of Environmental Protection, Ministry of Culture and Ministry of Agriculture. Xi said the campaign had achieved obvious effects as many Party members had deeper understanding of the Scientific Outlook on Development. However, Xi stressed Party members and officials still needed to do much more work to fully realize the problems in their work and learn to solve them. "Coping with the financial crisis, ensuring steady and rapid economic development and the stability of society should be an important part of the campaign," he said.
BEIJING, July 17 (Xinhua) -- Many countries around the world said the July 5 riot in northwest China is an internal affair of the country, and the Chinese government is handling the incident properly. A spokesman for the Belarusian Foreign Ministry, Andrei Popov, said Xinjiang is an inalienable part of China, and the unrest is a purely internal matter of China. The riot in Urumqi, the capital of China's Xinjiang Uygur Autonomous Region, left 197 people dead and more than 1,680 injured. Popov also expressed hope that China could soon restore stability in the region by adopting effective measures in accordance with the law. He said Belarus expresses its deep sympathy to the people who suffered personal injuries or loss of property during the violence. A spokesman for Pakistan's Foreign Ministry, Abdul Basit, said his country deplores any attempt to hinder China's progress. "We deplore any such attempt" which tries to impede the progress which has been achieved by China in the context of social harmony, he said in a recent interview with Xinhua. "We are committed not to allow any element in Pakistan to work against the interests of China because China's interests are Pakistan's interests. We cannot allow any activity that will damage China's interests," Basit said. Pakistan's Foreign Ministry, in a statement issued shortly after the Urumqi riot, applauded the efforts of the Chinese leadership to promote the concept of harmony both at home, in Asia and the rest of the world. Turkish Parliament Speaker Koksal Toptan said his country supports the principle of resolving the issue within the framework of the territorial integrity of China. The Turkish Foreign Ministry said the country highly values its relations with China and does not intend to interfere in China's internal affairs. Thailand's Foreign Ministry said on Thursday the July 5 riot is a domestic issue of China and it believs China is capable of stabilizing the situation and restoring peace and harmony in Xinjiang. Combodia's Ministry of Foreign Affairs and International Cooperation said: "The Chinese government is taking appropriate measures to handle the issue." The Foreign Ministry of Laos also issued a statement on the July 5 riot. It said Laos believes the measures the Chinese government has adopted to safeguard social stability are necessary and legitimate, and expressed hope the government could bring peace back to the region at an early date.