The ''Economic Daily'' () is a Chinese state-owned newspaper focusing on economic reports. Founded in Beijing on January 1, 1983, the newspaper is managed by the Central Propaganda Department of the Chinese Communist Party. The ''Economic Daily'' is pro-business, and the tone is

conservative Conservatism is a cultural, social, and political philosophy and ideology that seeks to promote and preserve traditional institutions, customs, and values. The central tenets of conservatism may vary in relation to the culture and civiliza ...

History

The newspaper was first published on 1 January 1983. In 1984,

Deng Xiaoping Deng Xiaoping also Romanization of Chinese, romanised as Teng Hsiao-p'ing; born Xiansheng (). (22 August 190419 February 1997) was a Chinese statesman, revolutionary, and political theorist who served as the paramount leader of the People's R ...

wrote an inscription for the ''Economic Daily''. In March 2018, ''Economic Daily'' won the Third

National Top 100 Newspapers The National Top 100 Publications ( zh, 全国百强报刊) is a biennial ranking system of Chinese print and digital publications, administered by the National Press and Publication Administration (NPPA) since 2013. It evaluates over 10,000 newsp ...

in China. In October 2020, the

United States Department of State The United States Department of State (DOS), or simply the State Department, is an United States federal executive departments, executive department of the U.S. federal government responsible for the country's foreign policy of the United State ...

designated the ''Economic Daily'' as a foreign mission of China.

Hoax

On January 28, 1993, ''Economic Daily'' published an article entitled ''Can Water Really Become Gasoline? —— A Record of Private Entrepreneur Wang Hongcheng and His Invention'' (水真能变成油吗?——记民营企业家王洪成与他的发明). The article, written by ''Economic Daily'' reporters Wu Hongbo (吴红博) and Liu Donghua (刘东华), praised the "

invention An invention is a unique or novelty (patent), novel machine, device, Method_(patent), method, composition, idea, or process. An invention may be an improvement upon a machine, product, or process for increasing efficiency or lowering cost. It m ...

" of Wang Hongcheng (王洪成) for transforming

water Water is an inorganic compound with the chemical formula . It is a transparent, tasteless, odorless, and Color of water, nearly colorless chemical substance. It is the main constituent of Earth's hydrosphere and the fluids of all known liv ...

into

gasoline Gasoline ( North American English) or petrol ( Commonwealth English) is a petrochemical product characterized as a transparent, yellowish, and flammable liquid normally used as a fuel for spark-ignited internal combustion engines. When for ...

as "China's fifth greatest invention" (中国第五大发明) after the traditional

Four Great Inventions The Four Great Inventions are inventions from ancient China that are celebrated in Chinese culture for their historical significance and as symbols of ancient China's advanced science and technology. They are the compass, gunpowder, papermaking ...

. However, the water-to-gasoline technology (水变油技术) was later deemed a

hoax A hoax (plural: hoaxes) is a widely publicised falsehood created to deceive its audience with false and often astonishing information, with the either malicious or humorous intent of causing shock and interest in as many people as possible. S ...

and

pseudoscience Pseudoscience consists of statements, beliefs, or practices that claim to be both scientific and factual but are incompatible with the scientific method. Pseudoscience is often characterized by contradictory, exaggerated or unfalsifiable cl ...

, and in 1998, its initiator, Wang Hongcheng, was sentenced to 10 years in prison.

Organization

The ''Economic Daily'' is published by the Economic Daily Press, a deputy-ministerial-level institution. It is managed by the Central Propaganda Department of the Chinese Communist Party.

References

External links

* {{Major central news organizations Newspapers established in 1983 Daily newspapers published in China Chinese-language newspapers (Simplified Chinese) Conservatism in China Conservative media State media Chinese Communist Party newspapers 1983 in Beijing National Top 100 Publications Publicity Department of the Chinese Communist Party