The Communist Party’s Central Commission for Inspection and Discipline reported that China will crack down on insider trading by government officials as part of the Party’s renewed effort to limit corruption. Officials and their families who use their positions to profit from insider trading, construction bids, land sales, and trading of property rights will face legal action. Xinhua reported that 25,654 officials were indicted for corruption in 2006 and 23,144 from January to November in 2007. This figure included several high-profile investigations, such as ones that toppled the communist party chief in Shanghai and the former head of the Chinese Food and Drug Administration.
Source: Xinhua, January 17, 2008