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BEIJING, April 1 (Xinhua) -- China's average daily stock trading volume at the Shanghai Stock Exchange shrank 35.2 percent month on month to 96.85 billion yuan (14.2 billion U.S. dollars) in February, the People's Bank of China (PBOC) said Thursday.China's stock market was closed from Feb. 13 to 19, for the Spring Festival, the most important Chinese traditional holiday.Analysts held that trading was normally bleak in the Spring Festival month, as some investors preferred to cash in profits before going back to hometowns for family gatherings and some were cautious before the release of new economic data after the holiday.The Spring Festival fell in January last year. The daily average stock turnover was down 3.38 billion yuan to 65.4 billion yuan in January 2009 compared with December 2008, according to the PBOC.The benchmark Shanghai Composite Index edged up 110.58 points from Feb. 1 to 3,051.94 points on Feb. 26 this year, the last trading day in the month, the central bank said in a financial market report released Thursday on its official website.China's financial market kept its smooth run in January and February, said the PBOC.The Shanghai Composite Index gained 1.23 percent, or 38.32 points, to end at 3,147.42 points Thursday. The turnover at the Shanghai Stock Exchange was 154 billion yuan, showing investors' heartened confidence in economic recovery.Thursday's official figures revealed that the Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 55.1 percent in March, up 3.1 percentage points from February, the 13th straight month that the index was above 50 percent.
SHENZHEN, May 22 (Xinhua) -- Preliminary investigation shows that factors including failed romance, unrestrained gambling could be the reasons behind suicide of a Foxconn Technology Group employee Friday, said police authorities in south China's Shenzhen City.Nan Gang, 21, climbed to the top of a factory building in Foxconn's industrial complex in Longhua Township and fell to his death at 4:37 a.m., said Huang Jianwei, a spokesman of the Bao'an Police Station, of the Shenzhen Public Security Bureau.Nan's suspected suicide was the 10th of the kind ever happening at the Foxconn's Shenzhen plant since the beginning of the year.Police said they learned from investigations that Nan Gang's parents were divorced and Nan was the only child of the family. Nan's ex-girlfriend got married this year in February, and his new girlfriend also deserted him early this month.Nan was said to be ill tempered and fond of gambling, and was thus in deep debts before his death.According to the police, not long ago, Nan had fights with his co-workers, so he employed others to beat the co-workers, but was later blackmailed by the same group of people.Nan allegedly had said he would take revenge and even showed his intent to commit suicide before he fell off the building Friday.Police have already captured the suspects for blackmailing Nan pending further investigation.Shenzhen-based Foxconn's company profile on its website says it's the world's top electronics manufacturer with more than 600,000 employees and ranked 109 among the Fortune 500 companies in 2009. It is linked to Taiwan electronics giant Hon Hai Group.
BEIJING, May 31 -- Evidence obtained illegally - such as through torture during interrogation - cannot be used in testimony, particularly in cases involving the death penalty, according to two regulations issued on Sunday.A death sentence should be pronounced only with sufficient evidence acquired through legal means, stipulate the two regulations: One on evidence review in death sentence cases, and the other on excluding illegal evidence in criminal cases.Jointly issued by the top court, the top procuratorate, the ministries of public security, state security and justice, they are the first specific rules on collection of evidence and review in criminal cases.The first regulation sets out principles and rules for scrutinizing and gauging evidence in cases involving the death penalty, and the other sets out detailed procedure for examining evidence and for excluding evidence obtained illegally.They are expected to cut down on death sentences and reduce forced confessions, experts said.The regulations make it clear that evidence with unclear origin, confessions obtained through torture, or testimony obtained through violence and intimidation are invalid, particularly in death sentences."Not a single mistake is allowed in fact finding and collection of evidence in cases involving the death sentence," said a written Q&A released by the five central departments on Sunday.The new regulations define illegal evidence and include specific procedures on how to exclude such evidence.Lu Guanglun, a senior judge at the Supreme People's Court, said such details do not exist in the Criminal Procedure Law and its judicial interpretations."This is the first time that a systematic and clear regulation tells law enforcers that evidence obtained through illegal means is not only illegal but also useless," said Zhao Bingzhi, dean of the law school at Beijing Normal University."Previously we could only infer from abstract laws that illegal evidence is not allowed. But in reality, in many cases, such evidence was considered valid," he said."This is big progress, both for the legal system and for better protection of human rights," he said. "It will help reduce the number of executions".Zhao said the new rules will also help change the mindset of law enforcers and reduce torture in interrogation, one of the causes of wrongful sentences.Ever since the top court started reviewing all death sentences in 2007, the overall quality of handling criminal cases has improved, but a lot of problems still remain, the joint Q&A said.In 2008, the top court announced that about 15 percent of death sentence verdicts by lower courts in 2007 were found to have faults.On May 20, Zhou Yongkang, secretary of the Communist Party of China Central Political and Legislative Committee, said at a meeting that "the criminal legal system should be perfected and law enforcers should improve their capability to ensure that every case handled can stand the test of law and time". Lu at the top court said the new rules will help prevent wrongful convictions like the one in which an innocent villager in Henan province was wrongly prosecuted.The case of Zhao Zuohai, who stayed behind bars for 11 years until the man he allegedly murdered turned up alive on April 30, has attracted national attention and triggered public criticism of judicial officers after Zhao said he was tortured by local police to confess.Three former police officers have been arrested for allegedly torturing Zhao."Such cases seriously undermine the image of China's justice system and people's trust in the government," said Bian Jianlin, a law professor at China University of Political Science and Law.
BEIJING, April 5 --The People's Bank of China says the country will be more open to foreign capital this year even though the prospect of a strong economic recovery is still unclear.Although the impending withdrawals of various countries' economic stimulus packages may also complicate the efforts to end the global economic crisis, the Chinese government has decided to increase the penetration of foreign capital into the country's financial industry in an appropriate way.An editorial in the "Global Times" quotes some western officials who said if China opened its market to western financial institutions the way it opened its market to five-star hotels, the potential risks would be huge for the country itself and the world at large.The editorial warns the doors to free trade should not swing open too quickly and that market openness should be managed at the right pace, as China has done during the past three decades. But it also notes that the stakes are higher in the country's financial industry. It argues that if China is fully open to foreign capital, the capital operation pattern common in developed economies such as the United States and several European nations will not suit its existing financial system on such short notice. As a result, chaos would erupt sooner or later in the financial sector.The editorial concludes that China should gradually liberalize its financial industry, because a sudden torrent of foreign capital would be undesirable. It calls for a prudent approach to financial liberalization that would yield a productive outcome as evidenced over the past three decades of gradual financial reform whereby more market competition has been encouraged and distressed loans have been effectively curbed. Such a policy has shielded China from being hit as severely by the current financial crisis and enabled it to rebound quicker than other advanced nations.
BEIJING, June 7 (Xinhua) -- In an effort to safeguard their honor as role models in both academic research and conduct, some Chinese academicians on Monday called on the country's scientists to cut social activities and halt the practice of taking too many part-time jobs.Chen Yiyu, director of the committee for moral reconstruction under the Chinese Academy of Sciences (CAS) Academic Divisions, urged academicians to be highly alert against and pay attention to "unhealthy practices" and corrupt behaviors.In a speech delivered at a plenary meeting of the CAS, Chen voiced firm opposition to the practice of academicians' holding too many posts and accepting inappropriate rewards.Chen said academicians should not attend thesis defense, appraisal,consultant or award-giving activities which were irrelevant to their research and they should be cautious and objective when giving comments publicly.CAS academician Zheng Shiling said he also opposed to the practices of academicians' taking too many posts and attending too many social activities, which were time-consuming and would affect their research and teaching."We should firmly oppose to the practice of holding posts in areas that have nothing to do with the academicians' research and part-time jobs that reward them improper benefits,"