The China Business Post announced on September 25, 2008, that it has been ordered to suspend publication for three months by the Chinese communist regime. (Internet Photo collected by The Epoch Times)

A weekly Beijing-based newspaper has been suspended for three months for publishing information about suspicious cash transfers at a public bank in Changde City, Hunan Province.

The China Business Post announced on Sept. 25 that they were being forced to reorganize the newspaper after publishing a report on July 11 called, “The true story of the 4.6 billion yuan (USD $672 million) in unhealthy capital of the Changde Branch of the Agricultural Bank of China.”

The article questioned the transfer of 1.211 billion yuan (USD $177 million) in bad debt to a capital management company using falsified official seals and fabricated documents to make the transfers. The article also questioned another transfer of 4.621 billion yuan (USD $675 million) this year.

A staff member at the newspaper said that the bank was furious, and after receiving pressure from financial backers, an irate staff member had complained.

The bank along with the CCP's central propaganda department then exerted pressure on the newspaper, and forced them to make a public apology and fire the writer, Cui Fan.

The Publicity Ministry of the CCP Central Committee, also known as the General Administration of Press and Publication, has ordered the China Business Post to write an apology, telling readers that they had exposed sensitive information without permission.

They have, however, not criticized the content of the report or called for a retraction of any of the details mentioned in the report.

Chinese authorities have said newspapers are prohibited from publishing reports about investigations outside of the province where they are licensed.

Under communist law, the propaganda department states “The media is not allowed to supervise what happens in different places;” “Press interviews must be followed by regular procedures;” and “Important and sensitive news reports cannot be released before verified with the related department.”

A staff member at the bank said because the content of the report was completely factual, the higher authorities have not been able to criticize the content of the report.

Observers are saying that this so-called “violation” of propaganda department guidelines is just an excuse being used as a political cover up.

Reporters Without Borders and the Worldwide Press Freedom Organsisation have slammed the Chinese Communist Party for trying to cover up both the bank scandal and the Sanlu milk crisis.

Read the original Chinese article