Beijing newspaper under fire for "untrue" speculator story

15:40, June 11, 2010      

Email | Print | Subscribe | Comments | Forum 

Chinese officials Friday criticized a Beijing newspaper for running an "untrue" story about a garlic speculator who spent 15.01 million yuan (2.2 million U.S. dollars) of his profits on gold.

The National Development and Reform Commission (NDRC) economic planning body issued a statement on its website saying the report on the unnamed speculator in the Beijing News on June 2 was fabricated.

The story claimed the speculator, having made quick profits playing the garlic market, had purchased 56 kg of gold from a China National Gold Group Marketing Co., Ltd. (China Gold) store in Beijing.

However, an investigation by the Beijing Municipal Commission of Development and Reform found no record of the transaction in the store's accounts, the NDRC statement said.

The Beijing News report also claimed the reporter had interviewed the store's deputy manager surnamed Zhang, but Zhang denied giving an interview to the paper, said the NDRC statement.

The investigation showed the news story was originally written by an unnamed staff member of China Gold, and sent to a Beijing News reporter. The Beijing News published the report without checking the facts.

The NDRC statement said maintaining market order and managing inflationary expectations were not only the work of the government, but also the media.

The government body asked media organizations to report factually and to refrain from publishing uncorroborated stories, especially concerning price changes, in order to avoid speculation.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion