The Hong Kong-based Information Centre for Human Rights and Democracy said Xu Jianxiong was the fourth jailed veteran of the 1989 Tiananmen Square protests to receive an early release in the past two months. The releases took place as Beijing campaigns to host the 2008 summer Olympics. The local dollar dropped to an all-time low on March 13, amid growing concern about the economy. The currency continued its downward spiral, hitting 50.48 U.S. cents in local trading, before bouncing back to 50.60 cents. Analysts predicted the dollar, hit by falling GDP, a cut in interest rates and weakness in export markets, would fall further.
Some economists warn of a recession ahead.
The Tokyo District Court sentenced Shigehiro Hagisaki, a former naval lieutenant commander, to 10 months in prison for passing defence secrets to a Russian military attach in exchange for money. He pleaded guilty, but Japanese law provides light penalties for spying. Meanwhile, U.S. Secretary of State Colin Powell said there were no plans for an early resumption of talks to end Pyongyang's missile programme. North Korea later cancelled cabinet-level talks due on March 13 with South Korea. It gave no reason.