The Shanghai Composite Index saw slight declines of 0.17 per cent and 0.56 per cent on Monday and Tuesday, to close at 1712.64 yesterday.

The handling of Chen's case demonstrates the CPC's resolution to build a clean Party and to fight corruption, Gan said.

Last year, 0.16 per cent of the Party membership, or 115,000, received disciplinary punishment, of which 11,071 were expelled from the Party and 7,279 referred to judicial authorities for criminal investigation, according to Gan.

Even though corrupt Party officials are in a minority, the CPC was still on a high alert, Gan said.

"We will continue to step up our anti-corruption efforts and punish those who violate laws to safeguard the purity of our Party," Gan said.

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