Chinese police are holding 16 suspects, accused of trying to smuggle around 1.05 tons of silver and silver products valued at 3.5 million yuan (US$437,500) from Shenzhen into neighboring Hong Kong.

This stands as one of the largest recent silver-smuggling cases uncovered by Shenzhen Customs, a spokesman with the Anti-smuggling Bureau of Shenzhen Customs said on Monday.

Acting on a tip-off, over 80 police officers stormed three smuggling hideouts in the Bao'an and Nanshan districts of Shenzhen and Guangzhou's Panyu District on the afternoon of June 20, the spokesman said.

They seized 1.05 tons of silver and silver products, such as beads and plates, and confiscated 11 vehicles during the nighttime raid, he said.

An investigation continues into the case but it appears the gang had been smuggling silver between Shenzhen and Hong Kong for a long period of time.

(Xinhua News Agency June 25, 2007)