2 Chinese executives get life sentence for $7.6 billion Ponzi scheme

Two executives of the Chinese peer-to-peer lender Ezubao who directed a large Ponzi scheme were sentenced to life imprisonment by a Beijing court on Sept. 12. Ezubao, the online peer-to-peer lending platform, shut down last year after raising more than 50 billion RMB ($7.6 billion) from about 900,000 investors. Ding Ning, Ezubao’s founder and chairman … Continue reading 2 Chinese executives get life sentence for $7.6 billion Ponzi scheme

CHINESE ASTRONAUTS PREPARE TO LEAVE TIANGONG-2

Two Chinese astronauts are preparing to depart the Tiangong-2 space lab for the Shenzhou-11 spacecraft, which is ready to return to Earth on Nov. 18. Tiangong-2 will be vacated, left to operate independently. To ensure a safe landing, air and ground teams have been performing search and rescue exercises in China’s northern Inner Mongolia Autonomous … Continue reading CHINESE ASTRONAUTS PREPARE TO LEAVE TIANGONG-2

7 million Chinese tourists will travel abroad this Spring Festival

Chinese tourists visiting the ruis of Ephesus in Turkey. (Photo/China.com.cn) Chinese people will make about 7 million trips to 90 countries and regions during the upcoming Spring Festival, according to statistics released by travel services providers, Xinhua reported on Jan. 20. According to online travel agency Ctrip, there are two main categories of overseas tourists … Continue reading 7 million Chinese tourists will travel abroad this Spring Festival

AIIB approves 7 new applications, expands membership to 77

The Asian Infrastructure Investment Bank (AIIB) announced Saturday that itsmembership has been expanded to 77 after its Board of Governors approved newapplications from seven countries. Jin Liqun, AIIB president, said that three of the new members are “regional” — Bahrain,Cyprus, and Samoa. The other four are non-regional prospective members, namelyBolivia, Chile, Greece and Romania. The … Continue reading AIIB approves 7 new applications, expands membership to 77

CHINA TO FACE KINDERGARTEN SHORTAGE IN 2-CHILD ERA: SURVEY

China’s implementation of a universal two-child policy will impose higher requirements on early education resources, resulting in a possible shortage of kindergarten spots,according to a survey by China Youth Daily. The survey estimates that kindergartens will be 110,000 spaces short of demand by 2021. According to the survey, the two-child policy cannot reverse falling birthrate … Continue reading CHINA TO FACE KINDERGARTEN SHORTAGE IN 2-CHILD ERA: SURVEY

BEIJING TO REDUCE PM2.5 DENSITY BY 30 PCT

BEIJING, Nov. 9 — Beijing government has vowed that by 2020 the city’s annual average density of the fine particulate matter PM2.5 will have decreased by 30 percent. According to the city’s environmental protection plan for the 2016-2020 period, which was approved Tuesday, the average concentration of PM2.5 will be around 56 micrograms per cubic … Continue reading BEIJING TO REDUCE PM2.5 DENSITY BY 30 PCT

Chinese man grows 7 centimeters thanks to parkour

(Photo/zjol.com) A Chinese adult claims he has grown an extra 7 centimeters in college thanks to his beloved extreme sport parkour, zjol.com.cn reported Wednesday. (Photo/zjol.com) 23-year-old Jiang Weiliao, who is an engineer, explained that while practicing the sport over his four years at college, he grew from 169 to 176 centimeters. He also became stronger … Continue reading Chinese man grows 7 centimeters thanks to parkour

Tiger mom crams 7 after-school courses into son’s schedule

Chengcheng, a 7-year-old boy in Quzhou, Zhejiang province, studies for seven different cram school courses every week, which cost the boy’s family almost 20,000 RMB each term. Such supplementary courses have once entered the spotlight, as early childhood education is an item of increasing concern to Chinese parents. In addition to his regular school work, … Continue reading Tiger mom crams 7 after-school courses into son’s schedule