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CHINESE INVESTORS TRICKED INTO BUYING OVERPRICED HOUSES IN AMERICA

As more and more Chinese people are purchasing overseas properties, an increasing number of opportunistic realtors are swindling them in the process. Recently, a woman surnamed Yang bought a house in Houston, Texas through a U.S. property agent. She went through with the transaction, only to discover that the property she owned was worthless than $20,000, though she bought it for $53,000.

Yang purchased a 95.41-square-meter condo in a community called Oakwood Gardens in June 2013. After several years, she was agitated to discover that Premier Capital Limited,the agency that represented Oakwood Gardens, had been hiding the truth from Yang and other – mainly Chinese – property owners in the community.

Yang invested in the condo in the hope that money earned from renting it out could go toward other investments. She also wanted to save it as a place to spend the holidays after her retirement. Yang did successfully rent it out, also through the agency, and rent payments arrived regularly for the first two years. However, the payments stopped coming in July 2015. At that time, Yang also received notice that if she didn’t pay a property management fee of $7,300 before Nov. 1, 2016, the property would be legally foreclosed.

Yang’s friend, surnamed Shen, had also bought properties from this agency, so Yang asked Shen to visit her house in May. Shen found that the most of the community’s tenants are either convicts or low-income earners. Shen also learned from the local property management company that only 20 percent of the condos in the community were cleared for rental, but the agency sold 74 percent of them in a clear violation of the regulation.

Eventually, Yang’s house was appraised at about $10,000. Considering the big gap between how much Yang actually paid and the market price, there is little question of the source of Yang’s two years of rent checks. And almost without question, the extra money was pocketed by Premier Capital Limited.

(This article is published on People’s Daily Online)

CHINESE AND VIETNAMESE JOIN TOGETHER IN SONG ACROSS BOUNDARY RIVER

The 2016 Sino-Vietnamese Youth Boundary River Celebration was held on the Beilun River, the boundary between China and Vietnam, on Nov. 9. Yong men and women from China and Vietnam sang songs to mark the friendship between the two countries.

In the afternoon, young people from China and Vietnam sang call-and-response songs while standing on boats in the middle of the river. The songs, filled with patriotic sentiments, attracted people to participate in the celebration.

The friendship between those who live on either side of Beilun River can be traced back many years. The city of Dongxing has become a convenient channel ever since the normalization of relations between China and Vietnam. As an important element of Sino-Vietnamese trade and travel, the Sino-Vietnamese Youth Boundary River Celebration is a popular and beloved activity among people in both nations.

(This article is published on People’s Daily Online)

PETROCHINA, SINOPEC WADE INTO ELECTRIC POWER BUSINESS

China’s two oil giants, PetroChina and Sinopec, have expanded their oil business to encompass electric power. After PetroChina Daqing Oil Field launched its electric powercompany, Sinopec Henan Oil Field also received an electric power business license. The license is Sinopec’s first, marking a significant transition.

Before 2015, only electric power plants and companies could be licensed. However, as electric power reform has deepened, China has opened the door for all qualified enterprises to enter the business. Daqing Oil Field Electricity Co., Ltd. now possesses the largest power distribution network in China. Its establishment can boost regional economy and reduce electricity costs.

Analysts have pointed out that the two oil giants have favorable conditions to share there form dividends. Thanks to the new reform, China has accelerated its marketization of electricity; over 1,000 power companies have been set up since the beginning of 2016.Besides established brands, many new firms have also flocked to get in on the booming business.

(This article is published on People’s Daily Online)

COMMENTARY: TIME FOR CHINA AND LATIN AMERICA TO BOOST COOPERATION

At the invitation of Ecuadoran President Rafael Correa, Peruvian President Pedro PabloKuczynski and Chilean President Michelle Bachelet, Chinese President Xi Jinping will kickoff a week-long Latin America trip starting from Nov. 17, during which Xi will attend the 24th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in Lima,Peru. The visit will be the last overseas trip of the year for Chinese leaders.

Ecuador enjoys a traditional friendship with China featuring mutual trust and complementary advantages. During a state visit made by Correa to China in January 2015,Chinese and Ecuadoran leaders decided to upgrade bilateral ties to a strategic partnership.As the first ever trip to Ecuador by a Chinese head of state, Xi’s visit will raise bilateral ties to a new high.

China and Peru are also good friends with mutual trust and common development. Peru is the only Latin American country that has both established a comprehensive strategic partnership and signed bilateral free trade agreements with China. China has become Peru’s biggest trade partner, export destination and source of imports. Xi’s state visit to Peru, coming on the 45th anniversary of the establishment of diplomatic ties between the countries, will elevate their bilateral relationship.

China and Chile are close partners as well. Chile was the first Latin American country to establish a diplomatic relationship with the People’s Republic of China, and also the first in Latin America to sign a free trade agreement with China. As close strategic partners,China and Chile are now witnessing enhanced political trust, deepened pragmatic cooperation and expanded cultural exchange. Xi’s visit, coming when bilateral ties are at an all-time high, will propel the countries’ strategic partnership to even greater heights.

As important partners to China in Latin America, Ecuador, Peru and Chile are on the forefront of Latin American cooperation with China. During Xi’s visit to Latin America in July 2014, he proposed raising the China-Latin America trade volume to $500 billion within a decade, and increasing FDI stock in Latin America to $250 billion. He also proposed establishing the “1+3+6” China-Latin America cooperation framework.

The first China-CELAC Forum meeting held in Beijing in January 2015 marked a new status for the relationship between China and Latin America – a status wherein integral and bilateral cooperation develop together and reinforce one another. Now, Xi’s Latin America tour is expected to consolidate this cooperation and advance China-Latin America ties still further.

At present, given the sustained yet slow and imbalanced global economic recovery, the economy in the Asia-Pacific region has slowed a little. Nevertheless, it is still a region with great vitality and potential. Faced with various new challenges, APEC needs to develop by following the current trends and adopting an innovative mindset to forge ahead.

China is not only a participant, promoter and guide for Asia-Pacific cooperation, it is also a constructor of and contributor to APEC. China offered a roadmap for building an “Asia-Pacific community of common destiny” at the 2013 APEC meeting in Bali, by calling on countries in the Asia-Pacific to seek common, open, innovative and interactive development.

At the 2014 APEC meeting in Beijing, China was the first to propose the Asia-Pacific dream of common development, prosperity and advancement. It also initiated the building of the Free Trade Area of the Asia-Pacific. During the 2015 APEC meeting in Manila, China urged for the formulation of mid- and long-term strategic frameworks for Asia-Pacific cooperation.

China has always upheld the idea that reform and innovation should be carried out together in order to develop the Asia-Pacific region and economy. The APEC trade ministers’ meeting, held in May, implemented the agreed-upon terms from the 2014 APEC meeting in Beijing, which indicates that collective strategic research on the Asia-Pacific free trade zone has entered its final stage.

During this year’s APEC meeting, attendees will focus on Asia-Pacific economic integration, and will together reinforce the important role of the Asia-Pacific region in global economic growth.

Xi’s third Latin America trip and fourth attendance of an APEC Economic Leaders’Meeting will bring China more friends, cement its status in the world and provide more public goods for global governance and world development. With domestic development in China, countries have a chance to learn from each other and seek mutually beneficial cooperation. China will contribute wisdom and strength to peaceful development, and the world will get to witness these admirable efforts.

(This article is published on People’s Daily Online)

CULTIVATION OF RICE ORIGINATED IN YANGTZE RIVER: EXPERTS

The ancient cultivation of rice first originated in the mid-to-low reaches of the Yangtze River over 10,000 years ago, Chinese experts and scholars stated in a report released during a seminar on Nov. 9.

The scholars believe that the domestication of wild rice was the beginning of primitive agriculture, an its production, intake and storage were developed soon after. They added that the remains of rice plantations dating back 10,000 years, found in Wannian County, Jiangxi province, have proven the theory that rice originated in China.

The seminar, which was about the origin of rice cultivation in China, was held in Wannian County. The event served as a platform for experts and scholars to exchange updates on field-specific research, and to showcase recent archaeological achievements.

(This article is published on People’s Daily Online)

‘MAGIC DOCTOR’ BRINGS CHINESE MEDICINE TO PERU

Zhou Kexiu, a 69-year-old Chinese woman, has been practicing traditional Chinese acupuncture in Peru since 1989, winning the confidence of numerous patients. Besides treating patients at her clinic in the Peruvian capital of Lima, Zhou has frequently volunteered to provide medical services to remote regions of Peru. Zhou said she is obliged to promote traditional Chinese medicine to all Peruvians.

(This article is published on People’s Daily Online)

SONG DYNASTY TOMB UNEARTHED IN XINJIANG

A tomb that can be traced back to the Northern Song Dynasty (960—1127) was recently unearthed in Kuqa County, Xinjiang Uyghur Autonomous Region. The tomb was spotted at a construction site on Nov. 2. Located 6 meters beneath the ground, the tomb itself is about 3.3 meters long, 2.2 meters wide and 2.3 meters high.

Upon inspection, the tomb had clearly been ransacked. Judging from the broken bones and pottery fragments unearthed so far, archaeologists estimate that its resident lived during the Northern Song Dynasty. More concrete data will be revealed after detailed studies are performed.

(This article is published on People’s Daily Online)

MAN LIVES WITH REPLICA DOLL OF DECEASED WIFE

A widower named Zhang Wenliang in Chongzhou, Sichuan province takes constant solace in a silicon replica of his deceased wife. After Zhang’s wife passed away in August of 2015, the 70-year-old ordered a 16,000-RMB life-size doll from the Internet. He dressed the doll in his wife’s clothes and talked to it everyday, pretending his wife was still with him.

Touched by Zhang’s love and devotion, the manufacturer of the doll decided to customize a replica of his beloved for free. In addition, the manufacturer promised to provide lifetime maintenance. Zhang received the doll on Nov. 8, and stated that he was quite satisfied with it. He extended his thanks to the manufacturer.

(This article is published on People’s Daily Online)