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State Council

Public bids: A public bidding for the maintenance and repair of all automobiles belonging to departments of the central government is to be held at Guoyi Hotel in Beijing tomorrow, according to the State Council.

This is one of the biggest government biddings this year for services, according to an official who did not want to be named.

According to the State Council, any automobile repair and maintenance enterprise which is registered in Beijing, has a workshop of more than 2,000 square metres and is authorized to repair Volkswagen and Audi sedans, is qualified to bid. More than 300 enterprises have applied for the bidding, according to the official.

State Forestry

Administration

Green incentive: A total of 5 million yuan (US$600,000) will be awarded every year to those who make outstanding contributions in forestry research in China, the nation's top forestry official said last Friday.

Zhou Shengxian, director of the State Forestry Administration, made the announcement at a seminar on the sustainable development of forestry in China.

He said that stronger efforts must be made to develop the country's forestry, especially through scientific research.

He urged scientists in the forestry sector to work harder and solve major technical problems in the sector and help map out a long-term programme for forestry science.

China Securities Regulatory

Commission

Power firm listing: Yangtze Electric Power is expected to obtain an A-share listing on the Shanghai Stock Exchange next month, said sources close to the China Securities Regulatory Commission (CSRC).

"The listing application of the company has been passed by the commission," said a source.

Yangtze Electric Power is expected to pull in about 4 billion yuan (US$500 million) based on current market conditions. The underwriter is China International Trust and Investment Corporation.

Yangtze Electric Power was set up last September as the listing vehicle for Three Gorges Company.

In March 2002, Li Yong'an, vice president of Three Gorges Company said that the company was planning a domestic listing which would involve private placements offered to foreign investors, as well as further listings in Hong Kong and London stock market.

People's Bank

of China

Dream coins: A set of gold and silver commemorative coins celebrating a great classical Chinese novel, Dream of the Red Mansion, were issued yesterday, announced the People's Bank of China.

The set of six include one gold and five silver coins, all featuring a portrait of Cao Xueqin, author of the novel. The reverse side features designs from well-known scenes in the novel.

The half-ounce gold coin has a face value of 200 yuan (US$24.18), with 8,000 to be issued; each of the four one-ounce silver coins has a face value of 10 yuan (US$1.2) with 38,000 to be issued; and the five-ounce silver coin has a face value of 50 yuan (US$6.05), with 11,800 to be issued.

Ministry of Culture

Public have say: All applications to build entertainment places should be followed up with the seeking of public opinion, according to which cultural administration departments above county level can decide on approval, according to new regulations issued by the Ministry of Culture which go into effect on September 1.

Under the new regulations, the cultural department should conduct a preliminary check on the applications within five working days. If the application meets the standards, all relevant data including the name, address, business character and business scope should be open to the public.

The cultural departments should receive the feedback within 10 working days, and inform the applicants immediately.

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