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Founder of Chinese Business Magazine Honored for Investigative Reporting - 2003-09-29

The founder and managing editor of the Beijing business news magazine, Caijing, was honored in New York City on Monday for her investigative reports on corruption in China's financial markets and banking practices.

The non-profit World Press Review has given its International Editor of the Year Award each year since 1975 to journalists outside of the United States, who advance press freedom and journalistic excellence.

This year's recipient, Hu Shuli, is being honored for her efforts in exposing business scandals, while making Caijing China's leading business publication. Ms. Hu says the birth of the magazine in the late 1990s came at a time when journalistic independence was gaining ground in China. "The development of China's market economy encouraged a new level of openness. Since our very first day, Caijing has found ways to take advantage of the masses' appeal for transparency," he says.

Ms. Hu gained prominence as one of China's premier business journalists, when her exposure of insider-trading scandals, the sharing of non-public information about a stock, prompted reforms in China's telecommunications industry.

Last Spring, Caijing, which in English means Finance and Economics magazine, published a series about the SARS epidemic, detailing how the disease spread, the state of the rural health-care system, and the government's efforts to cover up the extent of the problem.

An independent business research group in China provides the funding for the bi-weekly publication.