Chinese take to streets over share sale

SHENZHEN (Agencies) - Thousands of angry investors took to the streets of this southern Chinese city yesterday, setting fire to a police car in protest against alleged corruption in the sale of share application forms, witnesses said.

Between 50,000 and 60,000 demonstrators, some holding placards saying 'Down with Corruption', were involved in the protest, the witnesses said. Unconfirmed reports said police fired shots into the air and used tear gas to try and control the crowd outside the main government buildings.

The disturbance followed weekend chaos when an estimated 1 million people tried to cash in on the booming southern stock market through the sale of share application forms in the city, which borders Hong Kong.

Policemen flailed the crowd with bamboo canes, leather belts and electric cattle prods in a desperate attempt to control the mayhem. Local police said on Sunday that one person had died in the crush as investors from all over the nation battled to get hold of the forms, which allow applicants to enter a lottery for shares.

Only one in 10 forms will be selected by stock market officials, giving the lucky holders the chance to buy stock later this year.

Investors had milled around some of the sales offices throughout yesterday, refusing to believe that all 5 million forms had been sold by Sunday night in what was supposed to be a two-day sale.

A craze for share trading has swept China in recent months despite official warnings against the dangers of blindly investing in the belief that prices only go up.

Yesterday China played down the weekend chaos. It was ignored by national media, while the Shenzhen Special Zone Daily reported: 'Due to co-operation by all sides, the sales were carried out fairly, safely and efficiently, and no serious injuries or deaths were reported.'

PEKING - Police have scuttled a Chinese peasant's attempt to run a hi-tech floating casino that used cellular telephones to contact gambling customers, according to an official newspaper, AFP reports.

The peasant, Huang Jiahua, converted a sand-barge into the gambling boat in mid-July, installing a 142 sq ft air-conditioned casino and steered the vessel up and down the Fenjiang River in southern China's Guangdong province.

View from City Road, page 19

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Account Manager / Media Sales - OTE up to £30,000

£20000 - £30000 per annum: Recruitment Genius: This award-winning company, whi...

Recruitment Genius: Senior Software Developer

£40000 - £50000 per annum: Recruitment Genius: This is a unique & exciting opp...

Recruitment Genius: UX Consultant

£35000 - £45000 per annum: Recruitment Genius: You will be working with a 8 st...

Recruitment Genius: Part-time Editor

£8000 - £12000 per annum: Recruitment Genius: A unique opportunity has arisen ...

Day In a Page

Orthorexia nervosa: How becoming obsessed with healthy eating can lead to malnutrition

Orthorexia nervosa

How becoming obsessed with healthy eating can lead to malnutrition
Lady Chatterley is not obscene, says TV director

Lady Chatterley’s Lover

Director Jed Mercurio on why DH Lawrence's novel 'is not an obscene story'
Farmers in tropical forests are training ants to kill off bigger pests

Set a pest to catch a pest

Farmers in tropical forests are training ants to kill off bigger pests
Mexico: A culture that celebrates darkness as an essential part of life

The dark side of Mexico

A culture that celebrates darkness as an essential part of life
Being sexually assaulted was not your fault, Chrissie Hynde. Don't tell other victims it was theirs

Being sexually assaulted was not your fault, Chrissie Hynde

Please don't tell other victims it was theirs
A nap a day could save your life - and here's why

A nap a day could save your life

A midday nap is 'associated with reduced blood pressure'
If men are so obsessed by sex, why do they clam up when confronted with the grisly realities?

If men are so obsessed by sex...

...why do they clam up when confronted with the grisly realities?
The comedy titans of Avalon on their attempt to save BBC3

Jon Thoday and Richard Allen-Turner

The comedy titans of Avalon on their attempt to save BBC3
The bathing machine is back... but with a difference

Rolling in the deep

The bathing machine is back but with a difference
Part-privatised tests, new age limits, driverless cars: Tories plot motoring revolution

Conservatives plot a motoring revolution

Draft report reveals biggest reform to regulations since driving test introduced in 1935
The Silk Roads that trace civilisation: Long before the West rose to power, Asian pathways were connecting peoples and places

The Silk Roads that trace civilisation

Long before the West rose to power, Asian pathways were connecting peoples and places
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled

The honours that shame Britain

Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled
When it comes to street harassment, we need to talk about race

'When it comes to street harassment, we need to talk about race'

Why are black men living the stereotypes and why are we letting them get away with it?
International Tap Festival: Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic

International Tap Festival comes to the UK

Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic
War with Isis: Is Turkey's buffer zone in Syria a matter of self-defence – or just anti-Kurd?

Turkey's buffer zone in Syria: self-defence – or just anti-Kurd?

Ankara accused of exacerbating racial division by allowing Turkmen minority to cross the border