Current Events

[Randy W]

They’ve already stuck with crypto through crackdowns on trading platforms and mining. What’s a $1 trillion crash on top of that?

from the Sixth Tone on Facebook
https://www.facebook.com/sixthtone/posts/pfbid02EdS4N6FX9MUGJE6vgBVhUWRfKnghaYwSsWaAB7abVAfy4sYbmKZWKB3H38H9rhShl

Battered Chinese Crypto Fans Still Plan to Buy
They’ve already stuck with crypto through crackdowns on trading platforms and mining. What’s a $1 trillion crash on top of that?

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The Chinese public is certainly interested in crypto. The crash has made headlines and topped social media threads. State media have used it to claim vindication for the government’s no-crypto policies, saying it proves cryptocurrencies are “nothing more than a string of digital code” and that the regulations have protected Chinese investors from losses. Meanwhile, individual investors have poured out complaints of losses in public and private forums.

The collapse of the Terra and Luna coins, which promised no-risk, high-interest savings accounts, was the spark for the crash. “A lot of people bought in with high leverage after seeing an 80% fall. They wound up deep in the swamp a few days later,” said Huang Zijian, a Shenzhen-based part-time cryptocurrency investor. He escaped unscathed with a few well-timed sales, but a friend lost around 400,000 yuan ($59,840) in two days. Huang gave a pseudonym, citing the sensitivity of the matter.

“We were very much caught off guard. I’ve never seen big institutional players fall this hard in the past,” said Huang.

On investor forums, boasts of gains have given way to self-mocking jokes about being forced to “lie down,” a Chinese catchphrase for giving in to fate, said Cai Zhuoheng, a cryptocurrency enthusiast who requested to use a pseudonym for the sensitivity of the matter. The 23-year-old, who first tried crypto in June 2021, got his losses in early and avoided the big crash. He lost 30,000 yuan several months ago, and sold out all his digital assets.

 

 

Edited June 30, 2022 by Randy W (see edit history)

[Randy W]

In recent years, local authorities have made various attempts to reform street signs and signboards on shops as part of the beautification process. However, regulators have time and again launched campaigns to regulate the use of Chinese characters, asking not to use “ugly” or “weird” fonts or those that deviate from Chinese aesthetics.

from the Sixth Tone on Facebook
https://www.facebook.com/sixthtone/posts/pfbid0DgWDmFdrKaW7cfrgJnpFf1sX5DxFSgjtcr17hv6jTqxgrGiYugb858xH8GuU9Qprl

State Media Criticizes Chengdu Shop Signs in Romanized Chinese
Shop owners say the move was part of the local government’s beautification initiative ahead of the now postponed World University Games.

Enlarged pinyin shop signs in Chengdu, Sichuan province, June 2022. From Weibo
 

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Last year, local authorities had asked businesses to cooperate for a “unified beautification” initiative and that Chinese characters would appear in a smaller size under the pinyin on signboards, a decision they backtracked upon Sunday.

A commentary in the Workers’ Daily newspaper criticized the move, saying shop owners have no choice but to comply with the requirements of relevant departments, even when they know it could affect business. Shop owners also rarely speak out about the losses and additional operating costs resulting from them.

 . . .

Beijing-based lawyer Wang Cailiang told Sixth Tone on Wednesday that the local government’s interference in the design of their signboards on the grounds of “uniform beautification” has violated the shop’s right to operate independently.

“Store owners can protect their rights and refuse to carry out the orders,” Wang said. “But protecting their rights might come at too high of a cost.”

The owner of the noodle shop who posted the video told Sixth Tone that the temporary signs were changed to the official version Wednesday morning.

“Business is starting to return to normal,” she said.

 

 

[Randy W]

China prepares to give US$140 million parliament building to Zimbabwe

China is preparing to give Zimbabwe a new US$140 million building that will be home to the African nation’s parliament.

from the SCMP on Facebook
https://www.facebook.com/scmp/videos/1111632849786236/

[Randy W]

Two off-roaders from China's Great Wall Motor Company have made their overseas debut in #SaudiArabia's capital Riyadh.
"Tank 300" and "Tank 500" are two models from the company's "Tank" brand, aiming to tap into the overseas market.
"The Middle East is the main market for high-potential off-road vehicles in the world, and it is also the preferred market for the globalization of the 'Tank' brand," said Xu Huanzhi, general manager of Great Wall Motor Middle East Company, at a press conference on Sunday night. Great Wall Motor

from China Pictorial on Facebook
https://www.facebook.com/ChinaPic/posts/pfbid04Ebf6wQkNZEpqsR2coiVaTiESApSBuc18N5HwmsF8xvGqcwTGVWuDuQSN2VTL1UUl

All New Great Wall TANK 500 - First Look (Interior, Exterior)

 

Edited July 6, 2022 by Randy W (see edit history)

[Randy W]

Experts say alleged leak from Shanghai police database could be among largest data breaches in history.

from Al Jazeera English on Facebook
https://www.facebook.com/aljazeera/posts/pfbid0Dqa1QYZM4KkfwWFXHJbjEXuheGcgJo6E9CdhGhuJSfrPm2mgrvKVHNroykf99YFyl

Hackers offer data on 1 billion Chinese after alleged leak
Experts say alleged leak from Shanghai police database could be among largest data breaches in history.

Hackers are claiming to have obtained a trove of data on 1 billion Chinese from a Shanghai police database [File: Ng Han Guan/AP]

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In a post on the online hacking forum Breach Forums last week, someone using the handle “ChinaDan” offered to sell nearly 24 terabytes (24 TB) of data, including what they claimed was information on 1 billion people and “several billion case records” for 10 Bitcoins, worth about $200,000.

The data purportedly includes information from the Shanghai National Police database including names, addresses, national identification numbers and mobile phone numbers, as well as case details.

A sample of data seen by The Associated Press news agency listed names, birthdates, ages and mobile numbers. One person was listed as having been born in “2020,” with their age listed as “1,” suggesting that information on minors was included in the data obtained in the breach.

 . . .

The data leak initially sparked discussion on Chinese social media platforms such as Weibo, but censors have since moved to block keyword searches for “Shanghai data leak”.

One person said they were sceptical until they managed to verify some of the personal data leaked online by attempting to search for people on Alipay using their personal information.

 

 

 

[Randy W]

Shenzhen in south China's Guangdong Province will allow fully autonomous vehicles to run on certain roads as the city unveiled the country's first regulation tailored for smart and internet-connected vehicles, which is scheduled to come into force on August 1.

from the People's Daily - Hong Kong on Facebook
https://www.facebook.com/PDChinaHK/posts/pfbid0ooq8taehHmUZKPdrB2YgydRNjhKRYKDPdZG6Lmc4ZAwP9BHygZUYJ5wsaGkxuQyHl

 

[Randy W]

Made in China: a domestically built cruise ship fires up its high-power generators

China is one step closer to delivering its first domestically built cruise ship.

from the SCMP on Facebook
https://www.facebook.com/scmp/videos/753412002564112/

 

Edited January 20, 2023 by Randy W (see edit history)

[Randy W]

On 6/17/2022 at 9:38 PM, Randy W said:

Henan Bank Depositors Hit With Red Health Codes
Unable to unfreeze deposits, Zhengzhou freezes depositors with red health codes.

People gather at a branch of Yuzhou Xinminsheng Villlage Bank after discovering they couldn't withdraw money, Yuzhou, Henan province, 2022. From Weibo

 

 

Hundreds protest against corruption in central China

Hundreds of people took part in a rare public protest in China on Sunday, accusing local officials in the central city of Zhengzhou of corruption 

from Al Jazeera English on Facebook
https://www.facebook.com/aljazeera/videos/6183717241644526/

[Randy W]

Not here! We pretty much stay below 35°C (=95°F), and this summer has been extra cool so far.

Meanwhile, they've discovered that asphalt roads tend to last longer in this climate. Yulin's Ring Road 2 used to have to be repaved (one lane at a time) every year.

Roofs melted and roads cracked as extreme heat hit China. While some people sought refuge from the heat in underground shelters, health workers, stuck in protective gear for long hours, resorted to strapping frozen snacks to their hazmat suits.

from the NY Times on Facebook
https://www.facebook.com/5281959998/posts/pfbid022tJEWkmBhHy6XVQbPrUi6TmJidy9JZB2UytMy1UYyrt9iQUZcqZg2eLzmXCtTUBkl/

Dangerous Heat Wave Strikes China
Parts of the east and south withered under extreme temperatures, even as health workers in hazmat suits persisted in a round of mandatory coronavirus tests.

Some people escaped the heat in an air-raid shelter in Nanjing, China, but animals in the zoo, and health workers doing coronavirus tests, were not so lucky.Credit...Visual China Group, via Getty Images
 

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As dozens of cities in eastern and southern China issued heat alerts on Tuesday, with some temperature forecasts exceeding 104 degrees over the next 24 hours, health workers conducted outdoor coronavirus tests with packets of frozen snacks strapped to their white hazmat suits. Roofs melted, roads cracked and some residents sought relief in underground air-raid shelters.

The heat wave is forecast to persist for at least two weeks.

 . . .

A museum in Chongqing displaying imperial relics from the Palace Museum closed for repairs after sections of its tiled roof melted, according to a notice on Monday. In a town in southern Jiangxi Province, state TV showed a heat-damaged section of a road arched up at least six inches, according to the Reuters news service.

 . . .

Residents of the city of Nanjing rested on socially distant chairs in underground shelters that have been open to the public since Sunday. At the Chengdu Zoo and the Shanghai Zoo, animals were given slices of watermelon and bite-size ice treats.

The unrelenting heat also coincides with rounds of mandatory P.C.R. testing across the country, including in Shanghai, as the authorities there seek to curb the rapid spread of the Omicron variant and its subvariants.

Health workers, stuck in full protective gear for long hours, resorted to creative ways to keep cool.

Edited July 14, 2022 by Randy W (see edit history)

[Randy W]

 

China’s new megacity Xiongan takes shape near Beijing with residential area ready by summer 2023

China’s latest project to build a giant city from scratch is taking shape in the north, with work to install beams in all major buildings completed as of early July.

from the SCMP on Facebook
https://www.facebook.com/scmp/videos/1057529778301580/

[Randy W]

On 6/8/2021 at 6:33 PM, Randy W said:

A mother in central China was shocked to discover her son’s tall stacks of notes, books, and other review materials for the national college entrance exam, or “gaokao,” which kicked off Monday.
Check out more Daily Tones: http://ow.ly/pWsD50F5dMH

from the Sixth Tone on Facebook
https://www.facebook.com/sixthtone/posts/2966260603692780

Memes on "#xiaozhenzuotijia", or "small-town swot" - a term some have coined to describe those from rural areas who worked hard to get admission into a university - are back on Chinese social networking sites.
The term is nothing new and was once used for those from humble beginnings as self-mocking as they lack broader vision and social resources, but it is also proof of fairness in education and employment opportunities and class mobility.
Since gaokao, national college entrance exam, was reinstated in the late 1970s, it has proved to be the turning point in the lives of many of the country's young people, who had to clear the exam. Later, their contributions formed the backbone of development in contemporary China.
It is no exaggeration to say that many small-town swots have participated and contributed to China's development over the past four decades. They are the best example of how China's talent selection system is open and meritocratic. Such vitality in social mobility should be encouraged rather than mocked at.

from China Pictorial on Facebook
https://www.facebook.com/ChinaPic/posts/pfbid0GryA2GBD8aMT24jnHV98K5ag8ubRN1rnqXEWcp8tsW9wacMs2KAr41D1QgE8m4e9l

 

[Randy W]

China’s cyberspace regulator fined ride-hailing giant Didi Global over 8 billion yuan on July 21 for violating cybersecurity and data laws. Regulators said the firm illegally collected millions of pieces of data including 107 million facial recognition details and 12 million screenshots from users’ photo albums. Didi has been banned from Chinese app stores since shortly after listing in US stock markets in June 2021.

Check out more Daily Tones: http://ow.ly/EN3x50K1PxB

from the Sixth Tone on Facebook 
https://www.facebook.com/sixthtone/photos/a.1604152706570250/3281469805505190

 

[Randy W]

“Ice cream assassins” has become one of the most popular online buzzwords over the past weeks, with consumers slamming costly ice creams from unknown brands.

China’s market regulators want the country’s “ice cream assassins” dead.

from the Sixth Tone on Facebook 
https://www.facebook.com/sixthtone/posts/pfbid0ceSbm71pYbvdBgZKYHFNN3KRFp98zTRExGdm4A2Q4bf8SkhFREEYeBsQXvQYnMxil

China’s Market Regulators Take Aim at ‘Ice Cream Assassins’
While the crackdown aims to protect consumer interests, analysts say it wouldn’t necessarily bring cheaper ice creams back to the freezer.

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Local regulators across the country have been cracking down on stores hiding ice cream prices amid an uproar over rising costs for the humble summer treat. Multiple brick-and-mortar shops in the northern city of Tianjin, as well as those in Zhejiang and Guangdong provinces, have been fined up to 200 yuan ($15) for hiding prices.

“Ice cream assassins” has become one of the most popular online buzzwords over the past weeks, with consumers slamming costly ice creams from unknown brands. Many have complained they were shocked to pay five times as much for what appeared like their regular go-to ice creams, and were too embarrassed to put them back in the freezer after going to the counter.

 

I don't think I'd buy any of the ice cream in the picture, but some of the ice cream in China is very good. Ice cream is sold by weight, not by volume, so it's creamier than in the US. Look for a picture of a vanilla flower on the lqabel for real vanilla flavoring.

Edited July 24, 2022 by Randy W (see edit history)

[Randy W]

A new multi-story facility in the central Hubei province is being touted as the “world’s tallest hog breeding site” that will house tens of thousands of pigs, as companies seek to modernize the husbandry sector and satisfy the country’s growing appetite for pork.

from the Sixth Tone on Facebook
https://www.facebook.com/sixthtone/posts/pfbid023Y6XiEAvaQLL26A68v1go3rpaWDHXfx2gmagpvjGu5M4c6aTMHMzZ5n4SU7L5oeKl

Will Mega ‘Hog Hotels’ Help Meet China’s Rising Pork Demand?
Facilities like the upcoming 26-story pig farm are using new technology to keep up with the times.

A GIF shows a mega ‘hog hotel’ in Ezhou, Hubei province. From Weibo

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Zhongxinkaiwei’s farm in Ezhou expects to produce 54,000 tons of pork from a herd of 600,000 annually in each of the two buildings, the company said. When construction finishes, the company claimed it would be the country’s largest pig breeding site.

The concept of raising pigs in large buildings accelerated sharply after swine fever ravaged half of the country’s pig herds in 2018. The disease led to record-high pork prices, and wiped out countless small, traditional farms.

To evade transmission risks, the top agriculture regulators in 2021 classified the country into five geographical zones and suggested no cross-zone transportation of livestock, while regional authorities have encouraged an increase in local capacities to keep up with demand. In 2019, the Ministry of Agriculture and Rural Affairs even lifted restrictions on building multi-story hog farms.

While the idea of more hog hotels sounds promising, those working in the field have voiced concerns.

 

 

[Randy W]

A week after a braggadocious newlywed sparked outrage by posting her broker husband’s pay stub, regulators are putting limits on pay in the finance industry.

from the Sixth Tone on Facebook
https://www.facebook.com/sixthtone/posts/pfbid08g2JLoGUHEWmfkG9SU5Wv5HUMkBccSs5YZ4E1t2fmw4RzyKS7swfHqhT3EQvNZrYl

Boast About Big Bucks Busts Brokers’ Bankrolls
Some people get canceled online. This newlywed got a whole industry’s base pay canceled.

 

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A new rule published by the Ministry of Finance on Tuesday requires financial enterprises to equalize pay by giving larger raises to more junior staff, as well as shifting more pay to deferred bonuses.

Under the country’s “common prosperity” initiative, an effort to limit salaries in the finance industry has been under way over the past few years, but the efforts so far have recorded limited success. The latest rule tracks similar measures applied to bank pay in June.

Local media also linked the timing of the announcement to an obnoxious social media post that sparked heated discussions on pay gaps last week.

A newlywed boasted about her husband’s salary on social media platform Xiaohongshu on July 28, posting a salary certificate from top financial services company China International Capital Corporation, where the 29-year-old man works as a trader.