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Morning Wrap: Top Stories in the Chinese Press

July 3, 2013
Translated by Tian Shaohui and Pang Lei

Stories about the ongoing security situation in Xinjiang and the plight of Edward Snowden once again dominated the top headlines on China's major news portals (Sina, QQ, NetEase and Phoenix) this morning.

In terms of international stories, the tense situtation in Egypt is getting prominent coverage as are joint Russian-Chinamilitary exercises that are scheduled to begin on Friday.

There's also plenty of coverage given to yesterday's court hearing involving "Petitioner Mother" Tang Hui.

Keep readiing below for a translated digests of some of the other stories being reported by mainland Chinese media outlets today.

Supreme Court Judicial Decisions to be Published Online
Legal Daily
The full text of most of the judgements made by China's Supreme Court will be published on the court's official website, according to a Xinhua News Agency. The first set of judgements have already been added to the site (you can view them here). Aside from cases that touch upon state secrets, confidential commercial considerations and the private information of individuals, all other judgements, decisions and rulings made by the court should appear on the website. This also includes cases that have attracted a lot of public attention and also death penalty review cases. The database will include rulings made in civil, criminal and administrative cases.
Original article: [Chinese]

Lower Rate of Return on Wealth Management Products Following "Cash Crunch"
Beijing Business Today
The rate of return offered to investors buying wealth management products has fallen to below 5 percent, according to a report in Beijing Business Today. Banks were offering returns of up to 7 percent on similar financial products in late June. The report mentioned products sold by China Construction Bank, Industrial and Commercial Bank of China and China Industrial Bank.
Original article: [Chinese]

Nuclear Emergency Safety Plan Released
China National Radio
A new national emergency plan on nuclear safety was made public today. As of March this year, China had 17 nuclear power plants in operation and a further 28 under construction. In the wake of the 2008 Sichuan Earthquake and the Fukushima disaster in Japan, the central government has released a new contingency plan that outlines how national and provincial authorities should deal with a nuclear accident. The plan also gives direction to how the institutions responsible for the operation of nuclear facilities as well as the relevant departments in charge of regulating them should respond to a nuclear emergency. The plan aims to clearly assign responsibility and ensure that the response to any incident is rapid.
Original article: [Chinese]

Chinese Investors Ashamed of Playing the Stock Market
Beijing Youth Daily
June was a horror month for investors on China's stock market. The main index dropped by almost 14 percent in June, the largest monthly fall in almost 4 years. According to a report in today's Beijing Youth Daily, investors saw their holdings decline by an average of 30,000 yuan over the course of the month and more than 3.8 million choose to take their money and quit the stock market. The article also quotes data from an online poll conducted by a financial news website that found half of those who invest in the Chinese stock market are ashamed to admit the fact to others.
Original article: [Chinese]


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