This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The First Session Of The 12th National Committee Of The CPPCC Of China Concludes On March 12th, And The Standing Committee Boomed Private Entrepreneurs

GUANGZHOU, China, March 11, 2013 /PRNewswire/ -- The National People's Congress and the Chinese People's Political Consultative Conference of great concern draws to an end. The first session of the 12 th National Committee of the CPPCC of China will be concluded on March 12 th. On March 11 th, standing committee members were selected by the 12 th National Committee of the CPPCC of China. Two chairmen from two enterprises listed in Hong Kong were selected as new members. They are Chairman Hui Kayan from Evergrande (3333.HK) and Chairman Dong Wenbiao from China Minsheng Banking CORP, LTD. It can be said that the Standing Committee boomed private entrepreneurs. An original report from Sina Leju follows.

Hui Kayan with Greatest Dignity

The Chinese People's Political Consultative Conference is the supreme institution for Chinese people for participating in the administration and discussion of state affairs, which is a characteristic of China. The committee affairs are organized by the standing committee of the CPPCC National Committee. Yesterday, 299 standing committee members of the 12 th National Committee of the CPPCC of China were elected. They are respectively from 33 fields, such as the Communist Party of China (CPC), various democratic parties, economy, education and associations for friendship with foreign countries, etc. The National Committee of the CPPCC of China is constituted with different parties, and its members include leaders at provincial and ministerial levels. What attracted special attention in this Standing Committee is that Hui Kayan from Evergrande has been elected as a new member. Fu Chengyu, Yun Gongmin and Liu Zhenya among representatives from the field of economy are the captains of state-owned central enterprises. Hui Kayan is eye-catching, for he is the only one from the economic circle as a private entrepreneur and a member of the Communist Party of China.

Candidates were under extremely strict political examination before being selected as standing committee members of the Chinese People's Political Consultative Conference. A standing committee member is politically qualified and outstanding in the industry. A representative of private enterprises is regarded as a model who is politically perfect, and an entrepreneur and member of the CPC thus becomes a business leader with official recognition. When he or she is boomed as a dignified businessman, his or her enterprise gains discourse power in the industry.

Private Enterprises Gain More Recognition

Private economy has long been a subject of controversy in China. When central enterprises, enjoying various convenient conditions outshine others, the small and medium-sized private enterprises face plenty of difficulties to their progress. But today, giant private enterprises rise up to be an important part of China's economy and society, and emerge as the huge rising spokesmen of private economy that desires recognition. The selection of representatives of private enterprises as standing committee members is regarded as the State's confirmation to the development of private economy, which will help private enterprises gain precious political resources to catch up with the state-owned enterprises in terms of market competitiveness and risk resistance capacity.

SOURCE Sina Leju

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs