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People & Points
Print Edition> People & Points
UPDATED: September 5, 2009 NO. 36, SEPTEMBER 10, 2009

Dairy Giant Reshuffle

China Mengniu Dairy Co. Ltd., the country's largest milk producer, announced on August 27 that company founder Niu Gensheng had resigned from a top post at the company's main operating subsidiary.

According to a company statement, Niu, now Board Chairman of Mengniu Dairy, has transferred chairmanship of the board of directors of Inner Mongolia Mengniu Dairy (Group) Co. Ltd. to Yu Xubo. Xu is president of COFCO Group, China's largest grain trader. COFCO and private equity firm Hopu jointly purchased a 20-percent stake in Mengniu Dairy for HK$6.1 billion ($784 million) in July, making them the largest stakeholders in the company.

Niu, 55, started Mengniu Dairy from scratch in Hohhot, north China's Inner Mongolia Autonomous Region, in 1999. In eight years, he led the company to become a nationwide industry leader. However, the company suffered a significant setback in 2008 after its products tested positive for melamine, a toxic chemical compound. Following remedial efforts shrinking sales reportedly caused capital shortages in Mengniu Dairy, which finally resulted in its share sales of COFCO and Hopu.

Yu, 43, joined COFCO in 1988 and was appointed as its president in May 2007.

Judo Queen Victorious

Reigning champion Tong Wen won her fourth straight world judo title since 2003 in the women's +78 kg division at the 26th World Judo Championship in Rotterdam, Netherlands, on August 30. She overwhelmed Karina Bryant from Britain in the final by an ippon.

"I think I performed very well throughout the whole competition. I have achieved a lot in the sport, but my goal is to prove it each time and to keep progressing, to become better and better," Tong told Xinhua News Agency.

Tong, 26, entered the judo world at age 13. Besides the four world titles, she also won an Olympic gold medal in Beijing in August 2008 and tied up top prize at the 2008 World Judo Open Championships in Levallois-Perret, France, last December. The achievements made Tong the most successful Chinese judoka in history.

More Guangxi Corruption

Sun Yu, former Vice Chairman of southwest China's Guangxi Zhuang Autonomous Region, was sentenced to imprisonment for 18 years on charges of embezzling public funds and taking bribes on August 31.

Sun swindled 3.2 million yuan ($470,000) from the regional government and accepted bribes worth 3.28 million yuan ($470,000) by helping others obtain raw materials and fulfill timber quotas, the Intermediate People's Court of Nanning, capital of Guangxi, said in its ruling. The court also confiscated 1 million yuan ($143,000) from Sun.

Sun, 52, served as vice chairman of Guangxi between 1998 and 2007. He was expelled from the Communist Party of China and removed from government posts in October 2008.

Sun is the fourth high-ranking official in Guangxi to be sacked for corruption since 1999. Former Chairman Cheng Kejie was executed in September 2000.

"We will not change the orientation of our policy."

Chinese Premier Wen Jiabao, telling visiting World Bank President Robert Zoellick in Beijing on September 1 that China will continue its stimulating economic policy as the country is at a critical stage in the recovery of the economy

"We remember because we know well that he who forgets, or he who falsifies history, and has power or will assume power, will bring unhappiness again like 70 years ago."

Polish Prime Minister Donald Tusk, commemorating the 70th anniversary of the start of World War II at a ceremony in Gdansk on September 1

"It'll be to facilitate sales—'buy America' and things like that."

Steven Chan, President for Global Sales and Marketing of China's biggest solar panel manufacturer Suntech Power Holdings. Suntech is planning a new assembly plant in the United States in order to bypass protectionist legislation

"As long as there are uniformed foreigners in South American countries, it's difficult for us to think there can be peace."

Bolivian President Evo Morales, at a meeting of South American presidents in the Argentine mountain resort of Bariloche on August 28. The summit attacked plans for U.S. bases in Colombia

"One thing about the Internet you can predict is you will be surprised by applications you did not expect."

Len Kleinrock, a UCLA professor since 1963. Kleinrock and his team at UCLA began tests on what would become the Internet 40 years ago

"It's unlikely that the consumer will lead us out of this recession."

Ryan Sweet, an economist at Moody's Economy.com, commenting on new numbers from the U.S. Commerce Department that show consumer spending rose slightly in July but personal incomes remained flat

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