Shun stocks, China's universities told

The Chinese Government has warned universities against investing in shares and bonds despite rises in the country's stock markets.

The Chinese national news agency Xinhua said that universities had been told not to put state funds, infrastructure funding or tuition fees revenue into such investments. Wu Qidi, the Vice-Minister of Education, said they should not "misappropriate money to buy stocks".

His comments follow accusations that a university official invested more than £6 million of research funds last year and lost more than £2 million.