. Medical and Hospital News .




.
POLITICAL ECONOMY
China jails officials over economic data leaks
by Staff Writers
Beijing (AFP) Oct 24, 2011


China has jailed two officials from the state bank and national statistics bureau for leaking sensitive economic data to securities brokers, prosecutors said Monday

Sun Zhen, a former secretary at the National Bureau of Statistics (NBS), and Wu Chaoming, once a researcher at the People's Bank of China, were sentenced to five and six years respectively.

Both were found guilty of revealing state secrets, said Li Zhongcheng, an official with the state prosecution service.

The cases highlight the intense secrecy with which China's ruling Communist Party treats even economic data.

The world's second-largest economy, a key driver of global growth, is closely monitored by investment banks and governments around the world and Chinese economic data often moves financial markets.

Getting the information before it was officially announced allowed companies to profit from the resulting market moves, and forced China to tighten security and alter the way it releases key data.

Li said the jailed pair leaked a slew of market sensitive information, including China's official inflation and economic growth figures, to securities firms between June 2009 and January this year.

The two men were "driven by profits" and either tipped off brokers or received fees for attending seminars and other events organised by the firms, said Du Yongsheng, spokesman for the National Administration for the Protection of State Secrets.

The statistics bureau said in July it would release economic data within 24 hours of their compilation, instead of a fixed date every month, and reduce the number of people allowed access to the information.

Neither of the men has appealed, Li said, adding that four other people involved in the case -- all employees of securities firms -- were under investigation.

"The leaking of national macroeconomic data harmed economic operations, undermined fair market competition and compromised government credibility," he said.

Related Links
The Economy




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries




.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



POLITICAL ECONOMY
Eurozone split over Chinese help in debt crisis
Brussels (AFP) Oct 23, 2011
Eurozone leaders are toying with the idea of asking China and other emerging powers to help them out of the debt crisis by taking part in a bailout fund, but some are reluctant to call in Beijing. The possibility of asking for China, Brazil and others to come to their rescue emerged at a summit on Sunday as European leaders scrambled to find ways to boost their defences against the crisis. ... read more


POLITICAL ECONOMY
Wall collapses at Pompei after flash storms

Japan cabinet approves $156 bn recovery budget

El Salvador begins post-storm clean-up

Boeing Delivers 50,000th CSEL Search and Rescue Communications System

POLITICAL ECONOMY
GIS Technology Plays Critical Role to Aid Joplin Tornado Survivors

Russia surprised as Apple uses Glonass in new iPhone

Galileo - keeping time with atomic clocks

Factfile on Galileo, Europe's rival to GPS

POLITICAL ECONOMY
Crowded Earth: how many is too many

'Generation Squeezed': today's family staggering under the pressure

Blame backbone fractures on evolution, not osteoporosis

Cells are crawling all over our bodies, but how?

POLITICAL ECONOMY
Nepal scientists to 'poo-print' tigers

Ohio clamps down on exotic animals after slaughter

Ohio under pressure to pass wildlife law

Outraged conservationists demand US wildlife laws

POLITICAL ECONOMY
WHO warns of disease risk in flood-hit Thailand

Google Earth typhoid maps reveal secrets of disease outbreaks

Disease risk climbs after deadly Central America rains

Intruder virus detected raise the alarm

POLITICAL ECONOMY
Hong Kong mothers march against mainland babies

Chinese hit and run toddler dies

Immolations spark fear in China's Tibetan Buddhists

US says raising Tibet concerns with China

POLITICAL ECONOMY
Kenya to pursue kidnappers into Somalia: minister

China urges investigation of Mekong attack

China summons diplomats after deadly Mekong boat raid

13 bodies found after China boat raid: Thai official

POLITICAL ECONOMY
Berlusconi told to fix Italy finances at EU summit

China jails officials over economic data leaks

Italian firms fear looming credit crunch

Eurozone split over Chinese help in debt crisis


.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement