BEIJING — China’s supreme court threw out a retail tycoon’s fraud conviction on Thursday in an unusual show of leniency toward entrepreneurs amid a string of high-profile detentions that has rattled the Chinese business world. ADVERTISEMENTZhang and another executive who was convicted had no “subjective intention” to commit fraud, the court said. It reflected the ruling Communist Party’s desire to “strengthen the protection of the legitimate rights and interests of entrepreneurs,” said a Supreme Court official quoted by the website of the Shanghai newspaper The Paper. The supreme court said the rules had changed by the time Wumart applied and private companies were eligible. The supreme court also overturned Zhang’s conviction on charges he and other investors improperly used 40 million yuan ($6.1 million) from a customer’s account at an insurance company to trade stocks.

Source: Philippine Daily Inquirer May 31, 2018 09:11 UTC