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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, Sept. 19 (Xinhua) -- Top Chinese leaders including President Hu Jintao on Saturday visited an exhibition showcasing the achievements New China has made in the past six decades.     Former President Jiang Zemin, top legislator Wu Bangguo, Premier Wen Jiabao, top political advisor Jia Qinglin, and other senior leaders including Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang also visited the show. Chinese Former President Jiang Zemin (R, front) visits an exhibition showcasing the achievements New China has made in the past six decades in Beijing, China, Sept. 19, 2009. The leaders said they were excited to see the achievements New China has made since its founding, after the adoption of the reform and opening-up policy in particular, which were displayed through various means including pictures and video clips.     They agreed the exhibition vividly showed the historical process of the Communist Party of China (CPC) uniting and leading people of all ethnic groups across the country to blaze and develop the path of socialism with Chinese characteristics.     Hu said after the visit that China was still a developing country and the road ahead was still full of difficulties both foreseeable and unforeseeable.     He called on the people across the country to work with one heart and make unremitting endeavor for the rejuvenation of the Chinese nation.     The exhibition, covering progresses in economic, political, cultural, social and Party constructions, will run till Oct. 20. Wu Bangguo (2nd R), chairman of the Standing Committee of China's National People's Congress, visits an exhibition showcasing the achievements New China has made in the past six decades in Beijing, China, Sept. 19, 2009

BEIJING, Oct. 11 (Xinhua) -- If education is the cornerstone for the nation's development, teachers are the cornerstone for education, said Chinese Premier Wen Jiabao in a speech during a visit to a high school in Beijing on Sept. 4 this year. Xinhua News Agency published the 8,000-character speech, entitled "Teachers are Fundamental to the Great Cause of Education", on Sunday.     Wen listened five classes and had lunch with students at the No. 35 Middle School, and attended a workshop with teachers of the school.     It was a way to show his tribute to teachers ahead of the Teachers Day, which falls on Sept. 10 every year, and also a way to find out the actual situation of teaching, said the outspoken premier who then gave his own comments on what he saw in class. Chinese Premier Wen Jiabao (C) meets with teacher representatives before a symposium at Beijing No. 35 Middle School in Beijing, capital of China, Sept. 4, 2009. Ahead of China's 25th Teacher's Day, which falls on Sept. 10, Chinese Premier Wen Jiabao has called on teachers across the country to enhance their teaching standards and do a good job    Wen first attended a math class focusing on triangular congruence. He praised the math teacher for her heuristic teaching method when she tried to guide the students to find out the solution by themselves. Being a geologist himself, Wen suggested that students be taught a little bit more in a 40-minute class.     After listening a Chinese Language lesson, the premier advised that the teacher should give an introduction on the author of "The Reeds Marshes", one of the works of Sun Li, a well-known Chinese writer.     "The teacher was wise to let her students go through the 3,300-character a story on Anti-Japanese War silently in four minutes, in an attempt to train their fast-reading skill," said Wen, who described it a "surprise" to him, because he was never told to do so in his school days.     It also a surprise to the State leader that most of the students completed the fast reading and some students were asked to summarize the story by their own. It trained the skills of their logic thinking and summarizing ability, said the premier. He also praised the teacher for her effort in teaching his students about patriotism.     The third class was about the method of research, which is unfamiliar with the premier. "After the class, I realized that the class was designed to help students broaden their view," he said. Chinese Premier Wen Jiabao (C) talks with students at Beijing No. 35 Middle School in Beijing, capital of China, Sept. 4, 2009. Ahead of China's 25th Teacher's Day, which falls on Sept. 10, Chinese Premier Wen Jiabao has called on teachers across the country to enhance their teaching standards and do a good job.What the teacher and students discussed at the class was the concept of "teaching room". The teacher asked the students to figure out what composes a "teaching room".     The premier was a little critical about this class as both the teacher and the students failed to mention the issue of safety of a "classroom", such as the occurrence of earthquake, for instance.     At the class, the teacher shunned away from a student's question about ore. The premier once again showed his geological background by suggesting that students be taught something more about the nature. "A teacher is unlikely to know everything, but he can think over the question and give a reply next time," Wen said.     After the fourth class on geography, the premier was once again surprised to learn that many of the students had traveled a lot, at home and abroad.     Wen found some errors in the geographic textbook, which gives a wrong description about China's geographic regions. "North China" should not include Shaanxi and Gansu provinces and the Ningxia Hui Autonomous Region, which are officially regarded as part of northwest China.     The fifth and last was a music class. The teacher first let the students enjoy "We Are the World", one of the best-know works of Michael Jackson. The premier said , "I felt as if it was an artistic training class."     The class's topic of love guided the erudite leader to talk about aesthetics and the best-known Chinese aesthetician Zhu Guangqian. At the class, the premier made an improvisation on the issue of love. He also told the students about some Chinese scientists who were well-learned on other subjects such as arts, music and literature .     In a discussion with teachers, Wen said China failed to foster enough outstanding talents to meet the needs of the nation. Although the country has fostered a large number of professionals, the number of Chinese scientists who have gained an international reputation is too small, he said.     Wen quoted Czech educator John Amos Comenius (1592-1670) as saying, "Teacher is the most splendid profession under the Sun."     According to the premier, China had about 16 million teachers, including 12 million elementary and middle school teachers.     Wen called for bold reforms in the educational sector. China needs a large number of educators with a penetrating judgement on running schools, said the State leader. Chinese Premier Wen Jiabao (C) plays games with a student at Beijing No. 35 Middle School in Beijing, capital of China, Sept. 4, 2009. Ahead of China's 25th Teacher's Day, which falls on Sept. 10, Chinese Premier Wen Jiabao has called on teachers across the country to enhance their teaching standards and do a good job.The premier said education must meet the requirements of its own development law; the requirements of the changes of times, the requirements of the country in building a socialism with China's own characteristics; and the requirements of the "human-based" principle.     Teachers should be an "envoy of kindness", an "avatar of sincere love", and an "excellent-character" and "very skillful" educator with a "lofty professional moral", said the premier.     He urged teachers to be full of love and loyalty to their cause, be diligent in research and be qualified for their profession, and behave themselves as a model for students.     Wen also disclosed that a student had written to him on the issue of students' suicide. The student told him that many students had turned to suicide at a very young age, asking the premier to have a dialog with students on line on Sept. 1, the day for a new academic year.     The number of suicidal students has been very small, but "it must draw great attention," Wen said.     He urged governments at all levels to support the educational sector and make concerted efforts to improve the working and living conditions of teachers. Chinese Premier Wen Jiabao (R3 2nd Line Back) attends a music class at Beijing No. 35 Middle School in Beijing, capital of China, Sept. 4, 2009. Ahead of China's 25th Teacher's Day, which falls on Sept. 10, Chinese Premier Wen Jiabao has called on teachers across the country to enhance their teaching standards and do a good job.

BEIJING, Sept. 20 (Xinhua) -- Chinese President Hu Jintao has urged the Chinese People's Political Consultative Conference (CPPCC) to "continue carrying out its functions of political consultation, democratic supervision, and participation and raising proposals in governance, in a practical and effective way."     The CPPCC should make new contribution to boosting the Reform, Opening-up and Socialist Modernization Drive and the great cause of a peaceful reunification of the Nation, and safeguarding world peace and promoting a common development, said Hu, also general secretary of the Communist Party of China (CPC) Central Committee, at Sunday's gathering here to mark the 60th founding anniversary of the country's political advisory body.     Other Party and State leaders present at the commemorative event were Wu Bangguo, Wen Jiabao, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang, and Zhou Yongkang. The gathering was presided over by Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the CPC Central Committee Political Bureau.     In his key-note speech, Hu described the CPPCC as a patriotic United Front of the Chinese people, a major institution of the multiparty cooperation and political consultation under the leadership of the CPC, and a main form to display socialist democracy in the country's political life. Representatives from various fields join a meeting to celebrate the 60th anniversary of the founding of Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body, in Beijing, China, on Sept. 20, 2009.The CPPCC has had an uncommon experience and great achievements in the past 60 years as it has grown up along with the People's Republic, Hu said.     In September 1949, the first plenary conference of the CPPCC was held in Beijing, and it adopted the Common Guidelines of the CPPCC, which served as a temporary Constitution for the People's Republic, elected the CPPCC National Committee and the Central People's Government of the People's Republic of China (PRC).     Hu emphasized that over the past 60 years, the three-generation CPC leaderships, with Mao Zedong, Deng Xiaoping and Jiang Zemin as the core, respectively, have always given top priority and active support to the work of the CPPCC.     He urged the CPPCC to continue taking a political road of development with Chinese characteristics, making the promotion of the Scientific Concept on Development as its primary job, playing an important role in boosting a harmonious society, making contribution to pushing forward the great cause of a peaceful reunification of the Nation, and stepping up the self-building of its own.     To bring into full play of the CPPCC's role in the country's political life "is of great significance to improving the Party's governing capacity and consolidating the Party's ruling status," said Hu,     Jia, who also addressed the gathering, spoke highly of Hu's speech, noting that it is of guiding importance for bringing into full of the CPPCC's advantages under the new situation.Top Communist Party of China (CPC) and state leaders Hu Jintao (C, 1st row), Wu Bangguo (4th R, 1st row), Wen Jiabao (4th L, 1st row), Jia Qinglin (3rd R, 1st row), Li Changchun (3rd L, 1st row), Xi Jinping (2nd R, 1st row), Li Keqiang (2nd L, 1st row), He Guoqiang (1st R, 1st row) and Zhou Yongkang (1st L, 1st row) attend a meeting to celebrate the 60th anniversary of the founding of Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body, in Beijing, China, on Sept. 20, 2009.

BEIJING, Sept. 11 (Xinhua) -- The General Office of the Communist Party of China (CPC) Central Committee and the General Office of the State Council issued a collection of slogans Friday for the celebration of the 60th anniversary of the founding of the People's Republic of China.     The collection of 50 catchphrases touches upon issues of political system, economic development, environmental protection, military modernization and national unification.     On the top of the slogan list are "Warmly celebrate the 60th anniversary of the founding of the People's Republic of China!" and "Hail the great success of our country's reform and opening-up and socialist modernization!"     Also on the list are "Put people first, realize, safeguard and develop the fundamental interests of the overwhelming majority of the people!" and "build a socialist harmonious society and promote social equity and justice!"     One of the slogans also advocates the inheritance of fine military tradition that the armed forces should obey the command of the Party and serve the people.     Slogans also include "Adhere to the one China policy and promote the country's great cause of peaceful reunification!" and "Adhere to the independent foreign policy of peace and unswervingly pursue the road of peaceful development!" and "Long live the great unity of all nationalities of China!"     China has planned massive celebrations for the 60th founding anniversary of the people's republic on Oct. 1. The celebrations in downtown Beijing will feature a mass pageant and a military review.