CHINA: EX-GALAXY MANAGER LOSES APPEAL AGAINST DEATH PENALTY FOR STEALING

in China, a Beijing higher court rejected an appeal by a securities broker against his death sentence. Yang Yanming, a former general manager of a Beijing brokerage outlet of Galaxy Securities who was convicted of embezzling 65 million yuan (HK$73.76 million) between 1998 and 2003, will become the first employee in the mainland's securities sector to be executed when the Supreme Court approves the sentence. Yang appealed to the higher court in July 2008.