. China News .

China hands down death sentences in lending crackdown
by Staff Writers
Beijing (AFP) April 26, 2013

Two Tibetan monks self-immolate in China: reports
Beijing (AFP) April 25, 2013 - Two Tibetan monks in southwestern China died after setting themselves on fire, a media outlet and a rights group said, the latest in a series of such protests against Beijing's rule.

Lobsang Dawa and Konchog Woeser set themselves ablaze on Wednesday in Sichuan province's Aba prefecture, where many such incidents have occurred, said US-based Radio Free Asia (RFA) and Britain-based rights group Free Tibet.

"All the Tibetans who resort to self-immolation do so because they feel they have no other way to make China and the world listen," Free Tibet director Eleanor Byrne-Rosengren said in a statement.

RFA said monks held prayers for the deceased, aged 20 and 23, and the bodies were due to be cremated on Thursday.

More than 110 Tibetans have set themselves alight since 2009, with most dying of their injuries, in demonstrations against what they view as Chinese oppression.

Beijing rejects such claims, pointing to substantial investment in Tibet and other regions with large Tibetan populations, although critics say economic development has brought an influx of ethnic Han Chinese and eroded traditional Tibetan culture.

Authorities have ramped up security in the areas, sometimes blocking communications, according to RFA.

In recent months Tibetans have been jailed on charges of inciting the protests and spreading information about such incidents overseas.

Beijing condemns the acts and blames them on the exiled Tibetan leader, the Dalai Lama, saying he uses them to further a separatist agenda.

The Dalai Lama, a Nobel Peace laureate who has lived in exile in India since 1959 after a failed uprising in Tibet, has described the protests as acts of desperation that he is powerless to stop.

China said on Friday it has jailed or sentenced to death more than 1,400 people for underground money lending during a crackdown on informal financing used by small and medium sized enterprises.

China has convicted 4,170 people on charges of "illegal fund-raising" since 2011, with 1,449 given sentences ranging from five years in prison to the death penalty, China's State Council Information Office said on its website.

It did not say how many of those were sentenced to death.

The rate of "heavy" punishments reflects official "determination to crack down on illegal fund-raising", the website quoted Du Jinfu, a Public Security Ministry official who leads a task force on underground lending, as saying.

The others convicted received lesser penalties, he said.

China's state-controlled banks are not allowed to charge higher interest on riskier loans, making them reluctant to lend to private enterprises and leaving business owners dependent on illegal loans.

Economists including those from the World Bank have urged China to relax restrictions on lending to increase financing to China's entrepreneurs, who have consistently generated faster growth than state-owned companies.

China sentenced businesswoman Wu Ying to death for "illegal fundraising" in 2009, provoking a public outcry. China's Supreme Court overturned the sentence last year, China's official Xinhua news agency said.

Top Chinese officials in 2012 launched a pilot scheme to funnel more money to enterprises in Wenzhou, a business hub in east China rife with under-the-counter lenders who charge annual interest rates of 40 percent or even more.

The city was hit by a debt crisis in 2011 when a number of private loans went bad, leading entrepreneurs to commit suicide or go into hiding, and sparking fears of a nationwide financial crisis.

China's banks are not allowed to charge higher interest on riskier loans and mainly lend to other large state-controlled enterprises, shunning small- and medium-sized firms.


Related Links
China News from SinoDaily.com

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Get Our Free Newsletters
Space - Defense - Environment - Energy - Solar - Nuclear


China investigating clashes that killed 21
Beijing (AFP) April 25, 2013
Chinese police were Thursday investigating eight suspects arrested in the ethnically divided Xinjiang region after clashes left 21 dead, with authorities reportedly accusing "terrorists" of ambushing police. Local government officials said 15 police and social workers were killed in the western region on Tuesday, adding that six members of the mostly Muslim Uighur minority shot dead in the c ... read more

Hong Kong's pursuit of luxury defies Western gloom

Southeast Asian leaders talk China, trade

France eyes becoming trading hub for China yuan

China warns US on turning away investors

India predicted to receive normal monsoon rains

Deep, Permeable Soils Buffer Impacts of Agricultural Fertilization on Streams and Rivers in Southern Amazon

EU set to ban pesticides blamed for decline of bees: source

Ecology, economy and management of an agro-industrial Amazon frontier

Mali 'cannot have two armies': French minister

Nigeria amnesty panel says talks possible with Islamists

Scaled down US-Morocco war games resume: embassy

S.African leaders at odds on C.Africa troop re-deployment

Honda's annual net profit soars to $3.7 bn

Chinese prefer gas-guzzling vehicles?

Auto makers show off vehicles in key China market

GM by any other name? Car firms face brand puzzle in China

Czech CEZ wants better bids for nuclear plant

S. Korea, US extend nuclear pact

GDF Suez says Q1 energy sales edge higher

Japan, France set to win Turkish nuclear plant deal: report

China, Romania key sources of hacking: report

LulzSec hacker leader arrested in Australia

Reddit apologizes for Boston bombing 'witch hunts'

US journalist charged in hacking plot is sacked

Outside View: America's historical amnesia

Japan vows force if Chinese land on disputed islands

Hagel in Riyadh as Saudi, US plan arms deal

India, China hold talks on border dispute: report

U.S. leads in wind installations

Providing Capital and Technology, GE is Farming the Wind in America's Heartland with Enel Green Power

Wind skeptic British minister replaced

Using fluctuating wind power

The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement