China’s central bank called on the nation’s biggest lenders to accelerate the granting of mortgages, a sign that developers’ prices cuts and incentives alone won’t boost a slumping housing market and economy.
Barely 26 years old, Zhang Xi has studied at an elite American university, worked for an investment bank in Hong Kong and an oil company in Beijing and now may launch an Internet startup with two friends.
Known as “Mayor Bulldozer” for the massive infrastructure projects he built while running the eastern Chinese city of Nanjing, Ji Jianye traveled to Beijing last year to represent his province in the national legislature. He won’t be at this year’s gathering which starts today.
Authorities in central China’s Hunan province will detain two men for five days for spreading a “rumor” on the internet that 5,000 policemen and 100 police vehicles were seen guarding a wedding convoy, the official Xinhua News Agency reported.
A Chinese journalist detained by police from Hunan province for allegedly defaming a state-owned company said he accepted payments in exchange for releasing fabricated reports, China Central Television said.
The Chinese entrepreneur and the Peruvian shopkeeper have never met. Yet Li Shiping’s dream of riches and success in China is uprooting Victor Raul Ancieta’s village 18,000 kilometers (11,000 miles) away in the Andes.
A candidate for a provincial legislature in southern China’s Hunan province said he gave out about 320,000 yuan ($51,435) in bribes to voters in a failed bid to win a seat, the official Xinhua News Agency reported.