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Posts published in “Day: July 29, 2017

China: Local govt debt risks controllable in 2017…?

By Xie Jun in Global Times, July 28, 2017 at 22:33:40 The risks of China’s government debts are under control in general, an official from the Ministry of Finance (MOF) told a press conference on Friday. According to Liu Wei, a deputy director of the MOF, local government debt in China totaled 15.86 trillion yuan ($2.35 trillion) by the end of June, below the ceiling of 18.82 trillion yuan set by the National People’s Congress,…

Experts warn investors to be cautious about pyramid schemes

By Shan Jie in Global Times, July 28, 2017 at 22:38:39 Chinese experts have urged investors to be wary of products that offer suspiciously high returns after an alleged pyramid scheme organization was broken recently. “A principle is that if the rate of return is too high, that is to say several times the usual average, it must be a pyramid scheme,” Hu Xingdou, an economics professor at the Beijing Institute of Technology, told the…

Xi Jinping’s troubled early years are detailed in Communist Party campaign article

By Jun Mai in South China Morning Post, July 29, 2017 President Xi Jinping’s troubled early years are described in detail in a recent article by official media, underlining the political strongman’s firm determination to serve the Communist Party amid his family’s harsh political persecution. Xi had written 10 letters of application for membership in the Communist Party before finally being admitted as a member of a stained family, according to the article on Friday…

Xi personally behind island-building in the South China Sea

by Jun Mai & Sarah Zheng in South China Morning Post, July 29, 2017 A top Communist Party publication has spelled out that President Xi Jinping was personally behind Beijing’s high-handed approach to disputes in the East and South China seas. An editorial on Friday in Study Times – put out by the Central Party School, the Communist Party’s top academy – was the latest to lavish praise on Xi for his tough stance on…

486 face punishment for links to China’s fake research paper scandal

by Stephen Chen in South China Morning Post, July 28, 2017 at 11 pm More than 480 Chinese doctors and academics associated with published research papers that were later deemed to be fraudulent will be punished for damaging the country’s “international reputation”, the government said on Thursday. The announcement came after major US academic publishing house Springer in April retracted 107 papers by Chinese authors that had been published in the journal Tumor Biology. After…