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People & Points
Print Edition> People & Points
UPDATED: August 27, 2010 NO. 35 SEPTEMBER 2, 2010

SOE Watchdog Chiefs



Li Rongrong retired as minister of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on August 24. His successor, Wang Yong, is former minister of the State Administration of Quality Supervision, Inspection and Quarantine.

Li, 66, is already a year older than the mandatory retirement age for ministerial-level officials. He had held the position of SASAC minister since the watchdog of China's largest state-owned enterprises (SOEs) was established in 2003. Before that, he had been minister of the State Economic and Trade Commission since 2001. During his tenure at SASAC, Li actively promoted the market-oriented reform of SOEs to increase their competitive edge in the international market. Through mergers and closures, the number of SOEs under SASAC fell from 196 in 2003 to 123 in 2009.

Wang, 55, was vice minister of SASAC between 2003 and 2005 before assuming the post of deputy secretary general of the State Council, China's cabinet. In September 2008, he was appointed as minister of the State Administration of Quality Supervision, Inspection and Quarantine.

Oil Producer's Helmsmen



Fu Chengyu would hand over his role as CEO of CNOOC Ltd. to Yang Hua on September 16, said the company, China's largest offshore oil and gas producer. Fu will remain as chairman of the company.

Fu, 59, has served as chairman and CEO of CNOOC since 2003. He is also general manager of CNOOC's parent company, China National Offshore Oil Corp. Since he took over the company, CNOOC's oil output has risen 38 percent. Total assets and sales revenues for each have more than tripled.

Despite CNOOC's failed bid for U.S. oil producer Unocal in 2005, the company has undergone fast overseas expansion under Fu's reign. It acquired a 50-percent stake in Argentina's Bridas for $3.1 billion in March this year.

The 49-year-old Yang joined China National Offshore Oil Corp. in 1982. He had overseen the company's overseas operations for several years and played an important role in CNOOC's stock offering in 2001. Yang was named CFO of CNOOC in 2005 and became its president in 2009. On May 18, he was named vice general manager of the parent company.

CNOOC has chosen Li Fanrong, an assistant president, to succeed Yang as company president.

Literary Bridgebuilder


Chen Yingzhen, a distinguished writer from Taiwan, has been named honorary vice chairman of the Chinese Writers' Association (CWA).

Chen joined CWA in June, along with two other Taiwan writers, Zhu Xiujuan and Mo Naneng. They are the first Taiwanese to be admitted as members of the mainland-based association since 1949.

Chen, 73, is considered one of Taiwan's greatest authors. He started publishing short stories in 1959 and has published more than 10 collections of short stories. The 15-volume Collected Works of Chen Yingzhen hit bookstores in 1988.

In the early years of his literary career Chen mainly depicted the fate of intellectuals. Since the late 1970s, he has focused on the economic and cultural impact of multinationals on developing countries.

"Considering China's current economic and social development reality, appropriately removing the death penalty from some economy-related non-violent crimes, will not negatively affect social stability nor public security."

Li Shishi, Chairman of the Commission for Legislative Affairs of the Standing Committee of the National People's Congress, China's top legislature, at a bimonthly session of the Committee on August 23. The session was deliberating a draft amendment of China Criminal Law

"The gains that American companies have achieved here depend on our continued commitment to fairness and reciprocity in the treatment of Chinese business."

John Watkins, Chairman of the American Chamber of Commerce in China, on a proposed joint venture in the United States between Chinese steel-maker Ansteel and Mississippi-based Steel Development Co. U.S. congressmen have accused the project of threatening "American jobs" and "national security"

"We have memorized the play so many times, it is repeated in different forms, and sometimes with different faces, but it's the same."

Samir Hulileh, CEO of Palestine Development and Investment Ltd., speaking pessimistically of the prospects of a new round of U.S.-mediated Palestinian-Israeli peace talks due to begin in September

"They are all in perfect health, and none are traumatized. Their complaints are much less than we could have expected."

Paula Newman, a doctor in charge of monitoring health of 33 miners who have been trapped 700 meters underground in a Chilean copper mine since August 5. It has been estimated the ongoing rescue mission will take another four months

"I don't think this is a good time to be going public. It's more political than practical."

Dennis Virag, President of U.S. consulting firm Automotive Consulting Group, on General Motors Co.'s plan for a stock offering as part of its efforts to repay a taxpayer-funded $50-billion bailout

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