Officials 'sacked' over data leak
By Wang Yanlin and Feng Jianmin |
June 4, 2011, Saturday
|
Print Edition
Print Edition
SEVERAL mid-level officials at the central bank and state statistics bureau have been removed from their posts on suspicion of leaking valuable economic data to brokerages and reporters ahead of official announcements, according to a Beijing-based newspaper.
On April 14, the day before an official announcement, Hong Kong-based Phoenix TV's website accurately predicted nine economic indicators, including China's first-quarter gross domestic product and monthly consumer prices.
The report spurred the biggest gain in the Shanghai Composite Index in two weeks and set off a stocks rally from Europe to the United States.
"The authorities have paid much attention to this year's data leakage incidents," the Economic Information Daily reported yesterday.
"Some officials, mostly at the level of department director, have been searched out ... to be responsible," it said.
Liu Guoning, a press official at the statistics bureau, reportedly has confirmed part of the report and said one bureau official had left his job.
The newspaper said the officials at the National Bureau of Statistics and the central bank's research office, all of whom had access to the data in advance, may face criminal charges.
Its report did not specify any names and cited anonymous sources.
Economic data is regarded as a state secret before it is officially released.
On April 15, Sheng Laiyun, chief spokesman at the statistics bureau, condemned the leaks and said those held responsible would be punished.
"Government departments, institutions and individuals have a responsibility to keep state secrets," Sheng said.
The newspaper said it was suspected the officials might be involved in insider trading because of the close relationship between government officials and financial institutions.
"Many brokerages are willing to employ government officials in the macro economic departments and many chief researchers with brokerages have a government background," the report said.
On April 14, the day before an official announcement, Hong Kong-based Phoenix TV's website accurately predicted nine economic indicators, including China's first-quarter gross domestic product and monthly consumer prices.
The report spurred the biggest gain in the Shanghai Composite Index in two weeks and set off a stocks rally from Europe to the United States.
"The authorities have paid much attention to this year's data leakage incidents," the Economic Information Daily reported yesterday.
"Some officials, mostly at the level of department director, have been searched out ... to be responsible," it said.
Liu Guoning, a press official at the statistics bureau, reportedly has confirmed part of the report and said one bureau official had left his job.
The newspaper said the officials at the National Bureau of Statistics and the central bank's research office, all of whom had access to the data in advance, may face criminal charges.
Its report did not specify any names and cited anonymous sources.
Economic data is regarded as a state secret before it is officially released.
On April 15, Sheng Laiyun, chief spokesman at the statistics bureau, condemned the leaks and said those held responsible would be punished.
"Government departments, institutions and individuals have a responsibility to keep state secrets," Sheng said.
The newspaper said it was suspected the officials might be involved in insider trading because of the close relationship between government officials and financial institutions.
"Many brokerages are willing to employ government officials in the macro economic departments and many chief researchers with brokerages have a government background," the report said.
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