Front Page of the Day

Second trial of home appliances tycoon upholds original ruling

Daily Sunshine, August 31st, 2010

Huang Guangyu, former president of Chinese home appliances chain GOME has been appearing on newspaper covers frequently since his arrest in November 2008.

Yesterday, Huang's second trial concluded in Beijing's high court. The court upheld the ruling of his first trial including a 14-year jail sentence and a fine of six hundred million yuan.

In his original trial held between April 22 to May 18, Huang was convicted of insider trading, bribery and illegal operation. The same court also found Huang's wife Du Juan guilty on insider trading and dealt out to her a sentence of three and half years plus two hundred million fine.

Yesterday's trial reduced Du's sentence to three years and she was freed on parole. The alleviation of sentence was decided on the grounds of Du's timely payment of the fine and her show of penitence. Yesterday's ruling is the final.

The top headline announces the meeting of last Friday between President Hu Jintao and north Korea leader Kim Jung-il in Changchun, Jilin Province. Kim visited Jilin, Chuangchun and Harbin during his three-day sojourn. He was quoted as saying that he was "impressed by the change and development".

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