stilcome01

Chinese tennis players will get to keep more of their winnings in the future as an incentive to raise their game on the international stage, the country's tennis chief said in the wake of the recently ended Shanghai Masters Cup.

"Some of them, in particular those top-ranked players, will keep the majority of their prize money," added Sun Jinfang, head of the Chinese Tennis Association (CTA). "There will be a huge increase in their incomes."

In China, athletes usually have to share their spoils with coaches and sports administrations. The CTA has conformed to this system by requesting a percentage of the money from their professional tour-based winnings.

As most tennis players pay their own way, however, this practice - unique to China - has drawn much criticism from players especially in light of the rise of China's women on the world stage.

World No 40 Peng Shuai, the third best female player in China, has in the past threatened to quit the national team over the issue, but Sun said much progress has since been made.

"The percentage (of prize money) given to players is always going up," Sun said. "The association intends to give the players more freedom and prize money so they can have better training conditions and be more competitive."

Players are now entitled to 70 percent of their winnings, double that of previous years, while top talents like China No 1 Li Na and Wimbledon semifinalist Zheng Jie are eligible for more if they do well at Grand Slams and other big tournaments.

Sun said upping the percentages was a win-win situation.

"We give the best support to our players so they can win greater glory for the nation. At the same time we guarantee their personal fortunes," she said. "Basically we are looking for a balance between the traditional Chinese sports system and the professional sports system."

Meanwhile, domestic players can earn more by fulfilling their national team duties by participating in events such as the Fed Cup and the Olympic Games, Sun said.

Zheng teamed with long-time friend Yan Zi to win a bronze medal at the Beijing Games in August, for which the association awarded the pair and their coaches an extra bonus of 1.1 million yuan ($161,000). When Li Na finished an historic fourth place in the women's singles event at the Games, she and her husband-coach Jiang Shan got to share an additional 200,000 yuan.

The association also gave 565,000 yuan to Zheng and her teammate Sun Tiantian and their coaches for their achievements at this year's Grand Slams. Zheng became the first Chinese to make the final four at Wimbledon while Sun won the mixed doubles at the Australian Open in January with Serbian Nenad Zimonjic.

In a sign that the state is relaxing its tight controls, Sun said it would start to recommend to the national team more self-supported players, who have traditionally been overlooked in favor of those brought up within the system.

"It is up to the athletes whether they want to sponsor themselves or rely on the state," Sun said. "We respect their freedom to choose."

The new national team is expected to be named next month and coaches are being sought through an open tender.

If Jiang elects to continue despite protestations that he is getting old and tired, he is likely to retain his post as head coach of the women's team. He is currently leading in a poll of four candidates that also includes former men's head coach Xie Zhao, and Yu Liqiao, who helped steer Li Ting and Sun Tiantian to doubles gold at Athens 2004.

"We just want whoever is best for the team," said Sun.

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WASHINGTON: US president-elect Barack Obama turned his focus to the teetering US economy as he outlined a plan to create 2.5 million jobs and transition officials said he would today name a respected Federal Reserve official to the post of treasury secretary.

If confirmed by the Senate, Timothy Geithner, 47, president of the New York Federal Reserve, would be the top Cabinet official in charge of leading the administration's response to the global economic crisis. Word of his likely selection Friday helped send the Dow Jones Industrials soaring 500 points after several days of steep losses.


President-elect Barack Obama, with money in hand, looks to pay for his order during a visit to Manny's Deli in Chicago, Friday, November 21, 2008. [Agencies]

Obama also will name Lawrence Summers, a treasury secretary under former President Bill Clinton and the former president of Harvard University, to coordinate the federal response to the economic meltdown across several agencies, transition officials said Saturday.

A Democratic official said yesterday Obama will name New Mexico Governor Bill Richardson as commerce secretary.

Officials said that Geithner and Summers would appear with Obama at a press conference in Chicago today.

Obama plans to announce Richardson's selection after Thanksgiving.

As director of the National Economic Council, Summers would help shepherd Obama's new recovery plan, which aims to create millions of new jobs rebuilding roads, modernizing schools and creating alternative energy sources by January 2011.

Obama wants Congress to approve it quickly so he can sign it shortly after his inauguration on Jan 20.

"These aren't just steps to pull ourselves out of this immediate crisis; these are the long-term investments in our economic future that have been ignored for far too long," Obama said in the weekly Democratic radio address on Saturday.

He called the plan "big enough to meet the challenges we face" and said that it will jump-start job creation and lay the foundation for a strong economy.

"We'll be working out the details in the weeks ahead, but it will be a two-year, nationwide effort to jump-start job creation in America and lay the foundation for a strong and growing economy," Obama said.

The announcement of the appointments comes as Obama moves quickly to fill slots for his incoming administration. Also Saturday, Obama named longtime spokesman Robert Gibbs as White House press secretary.

Geithner served as a Treasury Department official during the Clinton administration, where he played a major role in negotiating assistance packages for South Korea and Brazil.

Obama's new director of communications will be Ellen Moran, who is executive director of the Washington women's political group EMILY's List. Moran will join a team of longtime close advisors who will work closely with Obama on a daily basis.

Summers helped the Clinton administration in crafting the US support program for Mexico during its 1995 financial crisis. He later helped lead the US response to the Asian financial crisis of 1997.

The president-elect is virtually certain to offer Congressional Budget Office chief Peter Orszag the job of directing the White House Office of Budget and Management, and Orszag is likely to accept, Democratic officials said Saturday.

In his radio address Saturday, Obama acknowledged that evidence is growing the country is "facing an economic crisis of historic proportions". He noted turmoil on Wall Street, a decrease in new home purchases, growing jobless claims and the menacing problem of deflation.

Obama said he was pleased Congress passed an extension of unemployment benefits this week, but added: "We must do more to put people back to work and get our economy moving again."

He cautioned, "there are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better." But Obama said Inauguration Day "is our chance to begin anew".

The Labor Department reported that claims for unemployment benefits jumped last week to the highest level since July 1992, providing fresh evidence of the weakening job market.



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