Chinese Communist Party cadres are capable of embezzling huge sums of money—but how do they store it?
As the funds are illicit, officials know better than to save the money in banks, so they’ve become very creative in how they hide their stash.
The topic surfaced when a piece of news recently went viral in China. In Harbin City, in the northernmost Heilongjiang Province, a local resident who was renovating his house discovered loads of cash hidden in the walls. The previous homeowner had stowed away 140 million yuan (about $21.7 million), leading many netizens to assume he was a corrupt official.
Local authorities quelled the internet rumors by claiming that the money was connected to a scam case that local police were investigating.
But netizens may not be far off the mark, as officials have been caught secretly hoarding their spoils.
Last September, the Chinese Communist Party’s anti-corruption agency, the Central Commission for Discipline Inspection, partnered with state broadcaster CCTV to air a special segment on corruption. It revealed how a Party cadre and former chairman of Chinese carmaker FAW Group, Xu Jianyi, hid his valuables in order to escape authorities. He placed his watches and gold bars inside tea canisters and tried to hide in a tree in his villa when he learned that the agency was coming for him.
Read The Full Story Here: https://www.theepochtimes.com/chinese-corrupt-officials-get-creative-with-ways-to-hide-their-embezzled-cash_2416363.html
China is becoming increasing anxious about the Australian pushback against Chinese influence and is now looking to the Labor Party, an expert on relations between the two nations has said.
- New legislation aims to reduce Chinese influence in Australia
- Professor Clive Hamilton said China seeks to establish power zone in the Pacific
- He said Australia neglected its responsibility in region and China is moving to fill the vacuum
Clive Hamilton, Vice-Chancellor’s Chair and professor of public ethics at Charles Sturt University, said the Australian response “reached a crescendo” with the introduction of the new Foreign Interference legislation in early December by the Turnbull Government, and China is now looking to the Labor Party.
“No country has ever interfered in Australian politics more than the People’s Republic of China,” Professor Hamilton said.
“I think that the Chinese embassy sees the Labor Party as a kind of much more amenable place to go in order to persuade politicians of its point of view.”
Read More Here: http://www.abc.net.au/news/2018-01-17/chinese-interference-in-australian-politics/9336828
In China, “big brother” has been invited to lunch. A high school has set up a comprehensive facial recognition system in its cafeteria that requires students to have their faces scanned in order to be served food.
The system, which Chinese state media are hailing as an innovative success, provides an example of how the Chinese regime is introducing facial recognition technology throughout society, with the goal of one day monitoring all Chinese citizens—an ambition the regime has never kept secret.
The use of the technology at Hangzhou No. 11 High School in Zhejiang Province is said by officials to be a response to more modest concerns. They say it is motivated by the apparently growing problem of pupils forgetting to bring their lunch coupons, according to numerous media reports.
Provided by a Chinese commercial company, the Smart Dining Hall 3.0 system equips all of the lunch counters in the cafeteria with cameras. Students lining up to get food must have their faces scanned to be checked against the existing database..
Read More Here: https://www.theepochtimes.com/in-chinese-high-school-a-students-face-buys-lunch_2335623.html
Authorities in China’s inland province of Shanxi have blown up a Christian church, saying it was illegally constructed.
Associated Press and other media report that local authorities demolished the Golden Lampstand Church in the city of Linfen on Tuesday.
A video shows an explosion reducing the large church to rubble, with people witnessing the scene from afar.
An official of the church says armed police forcibly took apart the building.
US government-backed Radio Free Asia says the church had come under strict monitoring by local authorities. In 2009, leaders of the church were sentenced to prison on such charges as obstructing traffic.
For the past several years, Chinese authorities have reportedly removed crosses at more than 1,200 churches, mainly in Zhejiang Province where many Christians live.
Church officials and lawyers opposing the move have been detained.
Read Full Story Here:https://www3.nhk.or.jp/nhkworld/en/news/20180112_04/
Who needs self-respect when you can stay warm?
A long motorbike ride can be downright incredible, but also a rather uncomfortable experience when winter comes around. Riders find themselves at the mercy of the elements, and the winter cold bites deep as freezing winds constantly flow through gaps in clothing.
China has come up with an answer to that in the form of a specialized body jacket designed for scooters. Covering the entirety of the rider’s front, the waterproof jacket provides unparalleled protection against wind, water, dirt and snow.
▼ Safety is probably not their biggest concern.
Read full story here: https://en.rocketnews24.com/2017/12/06/body-jacket-from-china-protects-scooter-riders-from-winter-cold-throws-dignity-out-the-window/
CANADIAN Indians are outraged over the sale of globes manufactured in China which exempt the troubled region of Kashmir from India.
There have been a number of shoppers who bought the globes since late 2017 – sold at major consumer outlets Costco and Homesense – who were angry to find the state of Jammu and Kashmir not included as Indian territory, reported the Hindustan Times.
The only Muslim-majority state in India, Jammu and Kashmir is part of a decades-long territorial conflict between Pakistan and India. China meanwhile claims the Shaksam Valley and Aksai Chin regions of the state.
“A country can now freely engage in a veiled war through business and trade practices by influencing young minds with long-term consequences,” National Alliance of Indo-Canadians president Azad Kaushik said, alluding to China, as quoted by the Times.
“The manipulation of a map on an educational globe is but an example of a new kind of war through business in a globalised world.”
Read Full Story Here: https://asiancorrespondent.com/2018/01/kashmir-china-india-map-canada/
BEIJING — A decision by China’s central bank to rein in reserve funds held by payment firms could cost the industry upwards of $689 million a year, spur consolidation and alter the way Asia’s biggest tech firms move money.
Mobile payments using in-app QR or bar codes have become ubiquitous for everything from taxis to grocery shopping and bike rental in China in recent years, with customers making 19 trillion yuan ($2.9 trillion) in transactions in 2016, according to iResearch.
The rapid uptake has spurred fears that mobile payment firms, without oversight, could misuse funds held while transactions between users and merchants clear.
Regulations unveiled by the People’s Bank of China (PBOC) on Saturday require firms to allocate 42 to 50 percent of their total client funds in regulated interest-free reserve accounts by April, up from a current rate of 12 to 20 percent.
Read Full Story Here: http://www.the-japan-news.com/news/article/0004165476