A group of Chinese academics has awarded its version of the Nobel Peace Prize to Vladimir Putin, an organizer said Tuesday, November 15, pointing to the Russian Prime Minister as "outstanding in keeping world peace," AFP reported.

Putin beat other candidates such as German Chancellor Angela Merkel and Yuan Longping, a Chinese agricultural scientist, to nab this year's "Confucius Peace Prize", Qiao Damo, one of the organizers, said.

The prize emerged last year, when it was suddenly announced by the group two days before jailed dissident Liu Xiaobo was awarded the Nobel to Beijing's anger, sparking speculation it was set up with the government's guidance.

Qiao, who said the Russian embassy had been informed about Putin's win but had not yet given a response, said the group would hold its award ceremony in Beijing on December 9 - a day before the Nobel Peace Prize event in Oslo.

"I feel the Noble Peace Prize has gone too far away from peace, and their standard has gone too far away from the essence of peace," he said. "Western values are not perfect and need an alternative to balance them out."