Gold futures on the COMEX division of the New York Mercantile Exchange dropped for a third session in a row Wednesday.
Sun Yang was reinstated by China following his suspension last year for a driving infraction.
The Chinese swimming national team lifted the ban on Olympic champion Sun Yang on Wednesday.
Sun, the first Chinese man to win an Olympic swimming gold with his victories in the 400 and 1,500-meter freestyle at the London Games, was suspended from training and competing indefinitely last November after he was given seven days of detention as punishment for driving without a license.
Sun was suspended from all the competitions and training by the Chinese swimming team last November after he was caught driving without a license in a car accident in Hangzhou, the capital of Zhejiang Province. He was banned by the Zhejiang College of Sports as well as the national team.
The college lifted Sun’s ban earlier Wednesday and asked the national team to let the swimmer back to training.
“The national team welcomes Sun,” said Shang Xiutang, deputy head of the Chinese Swimming Administrative Center (CSAC). “We always hope he can realize his mistake and come back. We hope he can do better in the future.”
The London Olympic champion has been going through a hard time after taking surgery of paronychia earlier this year. He has been out of systematic training for a long time and struggled with finding his form. It’s still unknown whether he can take part in the National Championships in May.
Sun has come to Beijing for rehabilitation training since Feb. 20.
“Sun need time to be back in form,” Shang said.
China’s anti-graft watchdog on Monday announced it has set up three new offices following anti-corruption chief Wang Qishan’s call for efforts to innovate disciplinary inspections.
The offices are two discipline inspection divisions and a division tasked with supervising discipline inspection officers.
Wang, secretary of the Central Commission for Discipline Inspection (CCDI) of the Communist Party of China (CPC), on Saturday called for continued efforts to make inspection work the “Sword of Damocles” that hangs above those in power as a deterrent.
Wang said that a third group of inspectors will begin work soon.
Different from the previous two rounds, the third will carry out special inspections in the Ministry of Science and Technology, Shanghai-based Fudan University, and China National Cereals, Oils and Foodstuffs Corporation. Ten provincial-level areas will have regular inspections.
“Special inspections can target at some specific section of an institute,” said Gao Bo, deputy secretary with the research center of clean government of the Chinese Academy of Social Sciences.
With clear targets, inspectors can carry out anti-graft work more efficiently, Gao said.
Cai Zhiqiang, an associate professor with Party School of the CPC Central Committee, said inspectors will focus on areas which are prone to corruption.
He said that the three organizations to be inspected cover three important fields — government ministries, state-owned enterprises and educational institutes.
Since May, the CCDI has carried out two inspection rounds, which found evidence of corruption among officials, malpractice and harmful workstyles. Wrongdoers have been punished.
Though things have improved in the past year following the Party’s campaign to clean up four undesirable work styles — formalism, bureaucracy, hedonism and extravagance — the “Sword of Damocles” will always hang to prevent any relapse.
Cai said the third round of inspections will also reinvestigate potential corruption and malpractice found during the last two rounds.
Inspectors will report problems to relevant disciplinary watchdogs and punish wrongdoers in accordance with laws, Cai added.
“With a steadfast resolve to combat corruption, the CPC will continue to innovate the supervisory system and carry out inspections more flexibly, in order to forge the ‘Sword of Damocles’,” Cai said.
In January, President Xi Jinping said, “Do not let regulations become ‘paper tigers’ or ‘scarecrows'” and pledged more efforts to hold officials accountable for any wrongdoing.
According to a work report of the CCDI, discipline inspection agencies punished about 182,000 officials nationwide in 2013, 13.3 percent more than in 2012. Thirty-one high-profile officials were investigated by the CCDI and eight of them were handed over to prosecutors.
Fiat Autio Poland (FAP), which owns a car factory in Tychy, southern Poland, made a profit of around 90 million U.S. dollars, according to company representatives on Friday.
The U.S. federal government registered a budget deficit of about 193.5 billion U.S. dollars in February, the largest monthly imbalance in a year, the U.S. Treasury Department said on Thursday.
Stanley Fischer, U.S. President Barack Obama’s pick for the Federal Reserve vice chair, on Thursday expressed his support for the current path of monetary policy and emphasized the role of the central bank in ensuring financial stability.
U.S. business inventories continued to rise in January, but sales posted their largest decline in 10 months, the Department of Commerce said on Thursday.
The group’s operating result last year rose by 5.3 percent to more than 4.2 billion euros,reflecting growth in all lines of business s.
The number of Americans initially applying for unemployment aid dropped to a three-month low in the first week of March, the Labor Department said Thursday.
Italy on Thursday received a warning from the European Central Bank (ECB) over the lack of results in reducing its budget deficit.