Pair are jailed for leaking State secrets

    Updated: 2011-10-25 07:51

    By Wang Huazhong (China Daily)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    BEIJING - Two officials from China's statistics bureau and its central bank have been jailed for leaking secret data to securities traders in the wake of similar cases that disturbed the market last year.

    Li Zhongcheng, a senior prosecutor of the Supreme People's Procuratorate, China's top prosecuting authority, said on Monday in a news conference that four other suspects from the securities industry were also implicated in leaks of State secrets.

    Industry insiders and researchers say that in the past leaks of macroeconomic data by authorities have been reported in the media and affected stock markets and cost individual investors billions of yuan.

    "It jeopardizes the order of market operation, disturbs free market competition and affects public confidence in the government," Li said.

    "It causes serious damage to the country, society and the people's interests, and is a kind of crime that is very detrimental to society."

    Li said that "after every leakage, the stock market fluctuated abnormally, and unfair phenomena would follow after the abnormality".

    Li, citing the verdict by the Xicheng District People's Court of Beijing, said Sun Zhen, former deputy director of the secretariat office of National Bureau of Statistics, got a five-year jail term for leaking 27 secret statistics 14 of them classified to two traders between June 2009 and January.

    Wu Chaoming, a researcher at the People's Bank of China's monetary and financial history research office got six years for leaking 25 "confidential State secrets" to 15 traders from January to June last year.

    The secrets Sun and Wu gave to traders included data on the consumer price index (CPI), producer price index, industrial value-added output, monetary growth and GDP.

    A Beijing-based trader, who asked not to be named, said big traders who received the leaked information, for instance CPI, which is used as a measure of inflation, would buy or sell stocks before the government announced changes to monetary and financial policies.

    "They make money from the time difference and flee risks earlier to leave individual investors bearing the loss," he said.

    "Monthly release of CPI became especially sensitive to the market since we have been on a fast track of CPI growth starting last year."

    Last November, two days before an official announcement, there were media reports about predictions by securities firms that the CPI had risen 5.1 percent year-on-year. On the day of the leak, the Shanghai Composite Index dipped 1.32 percent.

    Du Yongsheng, spokesman of the National Administration for the Protection of State Secrets, said that "the leakage cases are actually driven by interests".

    "Some (officials) have built partnership with securities traders to guide them to buy or sell stocks for profits. Some received fat lecture fees for attending workshops and forums organized by securities companies," Du said.

    Dong Dengxin, director of the Finance and Securities Institute at Wuhan University of Science and Technology, said internal management of secret information must be strengthened because the market is increasingly sensitive to releases of such data.

    Du added authorities would step up efforts to improve the management of the data.

    To mitigate the risk of leaks, the statistics bureau said last year that it would cut the number of people handling the secrets and their access, and shorten the interval between data compilation and release.

    Hot Topics

    New sex education textbooks were introduced to pupils in Shanghai on Monday after numerous debates on early-age sex education in China.

    亚洲日产无码中文字幕| 国产麻豆天美果冻无码视频| 伊人久久无码中文字幕| 中文字幕亚洲码在线| 无码人妻久久一区二区三区免费| 制服丝袜人妻中文字幕在线| 国产成人无码综合亚洲日韩| 少妇无码AV无码一区| 波多野结衣中文在线播放| 国产成人无码免费看片软件| 亚洲av无码专区在线播放| 中文精品久久久久人妻| 天堂√中文最新版在线| 69ZXX少妇内射无码| 色窝窝无码一区二区三区色欲| 久久久久综合中文字幕| 日韩精品久久无码中文字幕| 亚洲?V无码成人精品区日韩| 久久精品中文无码资源站| 18禁超污无遮挡无码免费网站| 日韩精品中文字幕第2页| 亚洲欧美日韩在线中文字幕| 中文字幕乱妇无码AV在线| 中文字幕乱码人在线视频1区 | 日韩综合无码一区二区| 精品亚洲综合久久中文字幕| 天天爽亚洲中文字幕| 中文字幕精品无码一区二区三区| 天堂亚洲国产中文在线| 伊人蕉久中文字幕无码专区| 久久久久亚洲av成人无码电影| 国产亚洲精品无码拍拍拍色欲| 国产成人无码专区| 毛片一区二区三区无码| 国产精品无码不卡一区二区三区| 国产精品无码无卡在线播放 | 人妻中文字幕无码专区| 亚洲AV无码一区二区二三区入口 | 中文字幕亚洲精品| 日本乱偷人妻中文字幕在线| 日本乱人伦中文字幕网站|