|
BEIJING - China will crack down on insider trading by government officials as part of the ruling Communist Party's effort to limit corruption, state Xinhua News Agency said Thursday.
Officials and their families who also use their positions to profit from construction bids, land sales and trading of property rights will face renewed anti-corruption efforts, the Communist Party's Central Commission for Inspection and Discipline said at a meeting this week, according to Xinhua.
China's leaders routinely identify corruption as the leading challenge to communist rule, although they have been loath to permit independent investigations.
Insider trading is illegal in China, but is thought to be very common on the country's stock markets because of the way stock prices move before company announcements are made.
China's chief justice announced last year that 29,966 officials were indicted for corruption in 2006, the latest year for which figures were available. The figure included several high-profile graft investigations, including one that toppled the communist party chief in Shanghai and former head of the Food and Drug Administration.
| 
