Ofo has no assets to pay off its debts

(Chinadaily.com.cn)17:01, June 19, 2019

Court discovers Ofo has no assets. [Photo/Xinhua]

Chinese bike-sharing company Ofo has no assets to pay off its debts, Beijing Youth Daily reported on Wednesday.

As per a court document, bicycle manufacturer Tianjin Fuji-Ta Bicycle Co Ltd filed an enforcement application to order Ofos operator, Dongxia Datong (Beijing) Management Consultancy to pay back about 250 million yuan ($36 million) related to sales contracts.

The application was filed after Ofo failed to resolve a dispute with the bike manufacturer.

However, the Tianjin High Peoples Court found that Ofo had no assets, which means it had no property and land usage rights, and no investment and vehicles. Its bank accounts were either already frozen by other courts or had no balance.

The court terminated the execution of judgment. Fuji-Ta Bicycle can again appeal to courts for enforcement if it discovers that Ofo has assets, the report said.

Some Ofos top executives, including the firms legal representative Chen Zhengjiang, founder Dai Wei, co-founder Yang Pinjie and general manager Chen Jing, have been blacklisted by courts for not fulfilling payment obligations and banned from excessive spending, according to a previous report. On June 12, Chen was also restricted by a Shanghai court from leaving the country.

Once a symbol of Chinas sharing economy, the cash-strapped bike-sharing pioneer faced tens of millions of users waiting for their refunds since the second half of last year. As of the end of May, the figure for deposit refunds surged to over 15 million, Changjiang Times reported.

The company used to invest heavily in market expansion at home and abroad, leaving less room for refined management and maintenance, said Raymond Wang, a partner at the consultancy Roland Berger in a China Daily report.

China to improve peoples livelihood with intensified efforts

(Xinhua)07:32, June 20, 2019

BEIJING, June 19 (Xinhua) — China will spruce up old residential communities in cities at a faster pace, complete the upgrading of rural power grids ahead of schedule, and make greater progress in ensuring the access to safe drinking water in rural areas, as part of the efforts to meet peoples aspirations and ensure and improve their livelihood.

The decisions were made at the State Councils executive meeting chaired by Premier Li Keqiang on Wednesday.

The Chinese government places high importance on the renovation of old urban residential areas. Premier Li Keqiang pointed out in this years Government Work Report that old residential areas in cities, large in both number and area, need to be upgraded with greater efforts, including updating roads and water, power, gas and other facilities, supporting the installation of elevators and the development of barrier-free environment, and improving amenities like markets, convenience stores, pedestrian streets and parking lots.

Premier Li Keqiang [File Photo: Xinhua]

The government must put market players at the center of its services to provide them with an enabling environment. Faced with slower investment growth, we need to get our focus right in keeping investment expansion steady. The focus should be major projects that can meet peoples expectations, spur domestic demand and boost consumption, and run little risk of repetitive construction, Li said, The demand for renovating old residential areas is huge. If work is done well in this field, it could be a significant driver of growth.

It was pointed out at the meeting that renovation scale and standards need to be spelled out as quickly as possible. Pilot programs will be launched this year to gain experience for nationwide implementation. It is important to clearly define the responsibilities of local governments, harness the primary role of residential communities and respect residents desire in this process. Priority will be given to upgrading roads and water, electricity, gas, optical fiber facilities. Elevators will be installed and parking lots will be built in communities where conditions permit.

New mechanisms for financing and investment will be used. Starting from this year, government-subsidized urban housing projects will receive funding support from the central government. Financial institutions and local governments will be encouraged to explore sustainable ways to increase financial support for the renovation of old residential communities. Market-based approaches will be employed to attract the participation by private actors. Long-term mechanisms will be established for follow-up community management.

We need to carry out pilot programs and draw on best practices at home and abroad. Financial and fiscal support will be provided when necessary, Li said.

It was pointed out at the meeting that the new round of rural power grid upgrading, which started in 2016, has improved production and living conditions and stimulated consumption in rural areas.

In the coming months, local governments and power grid companies need to redouble efforts to ensure that all the upgrading tasks specified in the 13th Five-Year Plan will be completed one year ahead of schedule. The time for enterprises to get electricity will be further shortened to improve the business environment.

This year, relevant investment under the central budget will be used entirely for power grid upgrading in poor areas and the proportion of central funding will be raised. Rural power supply monitoring and evaluation systems will be set up and power connection for pumping wells will be included in daily services provided by power grid companies, so as to deliver better power services in rural areas.

China has seen fast progress in power supply since reform and opening up. Yet the time needed for getting electricity and the accessibility still fall short of expectations, due to both institutional issues and inefficiency in the power system, Li said, Power supply is critical to industrialization and rural modernization.

It was also decided at the meeting to step up the implementation of rural water supply projects and fully resolve, by 2020, drinking water issues affecting 60 million rural population such as water undersupply and higher-than-recommended level of fluoride.

Sound mechanisms for water pricing and fee collection will be set up. Private capital will be attracted, through public-private partnership and other forms, for the construction and operation of water supply facilities. Central and local governments will provide fiscal support for safe drinking water projects in poor areas in the central and western regions.

Public goods and final demand are key areas in boosting investment. In delivering safe drinking water in rural areas, the government must set appropriate standards, work within its capacity, and leverage the role of the market. Li said.

Tsinghua, Peking earn record rankings in world universities list

(Chinadaily.com.cn)08:29, June 20, 2019

Peking University(top) and Tsinghua University. [File photo]

A total of 12 Chinese academic institutions have been included in the global top 100 of the sixteenth edition of the QS World University Rankings, released on Wednesday by London-based higher education analysts QS Quacquarelli Symonds.

Tsinghua University is Chinas highest-ranked university in the list, rising to 16th from last years 17th. Peking University rose eight places to reach 22nd place globally. Both universities have achieved their best rankings since the list was first published in 2004.

This years rankings illuminate sustained improvement throughout Chinas higher education. Furthermore, Chinas research impact rating continues to improve. Of the Chinese mainlands 42 ranked universities, 32 have improved their performance for QSs citations per faculty indicator.

Six mainland universities made it to the top 100, Hong Kong has five universities and Taiwan has one.

Globally, Massachusetts Institute of Technology was named the worlds leading university for a record-breaking eighth consecutive year in the rankings, while Asias top universities are the Nanyang Technological University and the National University of Singapore, both in 11th place.

QS ranked 1,000 universities from 82 different locations for the QS World University Rankings 2020. Universities are measured on academic standing, graduate employability, student and staff ratios, research impact and internationalization.

This years top 1,000 universities saw relatively little movement at the very top. Massachusetts Institute of Technology, Stanford University and Harvard University are the unchanged top three, while the University of Oxford continues to be the best university in the United Kingdom, according to a statement by the official QC Quacquarelli Symonds website.

However, outside of this good performance there are worrying signs for both the US and the UK, the statement read.

The majority of universities from both the US and UK have fallen in rank this year. In most cases, this is because of a weaker score for international student ratios, one indicator used to compile the ranking, it said.

It may not be long before other universities begin to overtake the traditional heavyweights from the UK and US, it added.

China earthquake affects over 243,000 people

(Xinhua)08:31, June 20, 2019

CHENGDU, June 19 (Xinhua) — Around 243,880 people were affected after a 6.0-magnitude earthquake hit southwest Chinas Sichuan Province Monday, local authorities said Wednesday at a press conference.

As of 4 p.m. Wednesday, 13 people had died and 220 were injured. Among the injured, 153 people are receiving treatment in hospitals, according to Li Tinggen, secretary-general of the municipal government of Yibin.

The earthquake hit Changning County of Yibin at 10:55 p.m. Monday. The epicenter, with a depth of 16 km, was monitored at 28.34 degrees north latitude and 104.90 degrees east longitude, according to the China Earthquake Networks Center.

More than 52,000 people were relocated in quake-hit areas. Over 20,000 houses collapsed or were severely damaged, the updated statistics showed.

Over 3,100 people joined the search and rescue work.

Currently, all coal mines in Yibin have been suspended and miners have been evacuated. Nineteen hazardous chemical companies are currently being checked.

Chinas carbon trading deals reach nearly 7 bln yuan

(Xinhua)09:35, June 20, 2019

NANCHANG, June 19 (Xinhua) — Chinas carbon trading market had a total transaction volume of roughly 6.8 billion yuan (985 million U.S. dollars) by end-May, official data showed.

About 310 million tonnes of carbon dioxide emission quotas had been traded, according to the Ministry of Ecology and Environment.

China piloted carbon emission trading in seven provinces and cities in 2011 to explore market-based mechanisms to control greenhouse gas emissions. A national carbon emission trading market was launched in 2017.

Chinas carbon dioxide emission per GDP dropped by 45.8 percent in 2018 from the 2005 level, a stride toward the goal of meeting the emission peak in about 2030.

Wednesday marked the annual National Low-carbon Day, which falls on the third day of the National Energy Efficiency Promotion Week in June every year.

China launches campaign to promote food safety

(Xinhua)09:45, June 20, 2019

BEIJING, June 19 (Xinhua) — Chinese authorities have launched a national campaign to call for joint efforts to enhance food safety.

The China Food Safety Publicity Week is an annual event initiated in 2011. The campaign will last from June 18 to 30 this year and highlights making peoples life better via enhanced food safety.

Over 50 activities such as exhibitions and training will be organized during the campaign.

Supervision will be tightened with more random checks, and increased efforts will be made to ensure food safety in areas including baby formula, meals and food supplied on campus, and health-promoting products, said Xiao Yaqing, head of the State Administration for Market Regulation.

China has pledged unwavering efforts in developing standards, conducting regulation, imposing penalties and seeking accountability to ensure food safety.

A guideline was released in May to enhance the countrys food safety with a phased plan to build a modern governance mechanism in the field.

More than 97 percent of the countrys major produce should pass quality and food safety tests by 2020, while over 98 percent of food should pass spot checks, the guideline said.

By 2035, China should have a set of world-leading food safety standards, a marked drop in illegal practices and globally advanced risk control capabilities.

China allocates 100 million yuan to support rescue work in quake-hit province ministry

(Xinhua)09:45, June 20, 2019

BEIJING, June 19 (Xinhua) — The Ministry of Finance and the Ministry of Emergency Management on Wednesday allocated 100 million yuan (14.51 million U.S. dollars) to southwest Chinas Sichuan Province to support rescue operations after the province was hit by a 6.0-magnitude earthquake.

The government has supplied 5,000 tents, 10,000 folding beds and 20,000 quilts to the quake-hit areas for the victims.

As of 4 p.m. Wednesday, around 243,880 people had been affected by the earthquake. Thirteen people died and 220 were injured. More than 52,000 people were relocated from quake-hit areas. Over 20,000 houses collapsed or were severely damaged, the updated statistics showed.

Relief efforts underway after China quake kills 13, injures 220

(Xinhua)09:46, June 20, 2019

CHENGDU, June 19 (Xinhua) — Over 3,100 people including fire fighters, armed police and volunteers have joined the search and rescue work after a 6.0-magnitude earthquake hit southwest Chinas Sichuan Province Monday, local authorities said Wednesday at a press conference.

As of 4 p.m. Wednesday, 13 people had died and 220 were injured. Among the injured, 153 people are receiving treatment in hospitals, said Li Tinggen, secretary-general of the municipal government of Yibin.

The earthquake hit Changning County of Yibin at 10:55 p.m. Monday. The epicenter was monitored at 28.34 degrees north latitude and 104.90 degrees east longitude, according to the China Earthquake Networks Center. The quake struck at a depth of 16 km.

Around 243,880 people were affected, and more than 52,000 people were relocated in quake-hit areas. Over 20,000 houses collapsed or were severely damaged, the updated statistics showed.

A vibrant cry of a baby burst out early Tuesday morning from Yibin Mine First Aid Hospital. It was the first baby to come into the world following the devastating earthquake in Changning County.

I was scared and the building was shaking. But the doctors and nurses were very calm. They accompanied me and helped me relax, said mother Wang Jirong, recalling the moment she gave birth to her baby boy.

One of our doctors had a fractured bone, and many nurses in our hospital are very young. They all stuck to their posts, trying their best to ensure the safety and health of mothers and babies, said Yao Chong, chief of the hospitals obstetrics and gynecology.

By Tuesday afternoon, seven babies had been born in Yaos hospital. Ambulances, stretchers, and tents have been prepared to transfer the expecting mothers in case of an emergency.

On Tuesday evening, as a victim severely injured in the quake was receiving treatment in an ambulance in Changning County, high-definition images of the patients ultrasound scan were transmitted in real time via a 5G network to experts in Chengdu, the provincial capital that is more than 200 km away.

In Chengdu, based on the images, experts with the Sichuan provincial peoples hospital quickly suspected that the patient might be suffering from a damaged spleen and offered their advice on treatment.

The patients life might have been in danger if the damaged spleen had not been detected, said Li Gang, a doctor sent by the hospital to Changning to assist with the rescue efforts.

Health experts are collecting samples and testing the water quality of local waterworks, disinfecting the hospitals and temporary shelters, and providing 113 psychological counseling services. There have been no reports of epidemics so far.

Around 280 technicians, 86 vehicles, 31 drones and other professional equipment have been sent to the quake-hit areas for surveys on secondary geological disasters.

By Wednesday afternoon, over 600 spots that suffered risks of geological hazards have been checked, according to the press conference.

Currently, all coal mines in Yibin have been suspended and miners have been evacuated. Nineteen hazardous chemical companies are currently being checked.

Insurance companies have initiated emergency response procedures for the settlement of claims. Local banks and insurance organizations have set up 334 green channels as of 10 a.m. Wednesday, dispatching 994 workers and establishing 45 service points, according to the Sichuan banking and insurance regulatory bureau.

Guideline unveiled on govt information disclosure in compulsory education

(Xinhua)10:22, June 20, 2019

BEIJING, June 20 (Xinhua) — A guideline has been issued on the disclosure of government information in the field of compulsory education in a bid to streamline the procedure and improve transparency and openness, according to Chinas Ministry of Education on Wednesday.

The standard table of contents of government information in the field to be disclosed is comprised of 10 items, namely policy documents, a general introduction, information on private schools, financial information, enrollment, students, teachers, implementation of key policies, disclosure of information relating to education supervision, and campus safety.

Primary-level authorities responsible for compulsory education should disclose information, interpret policies and respond to public inquiries and concerns in accordance with the guideline.

The guideline stressed that a system should be established to collect, assess, handle and respond to public opinions on compulsory education.

Chinese travelers as trendsetters in the wave of social media-fueled tourism

By WangYuan (Peoples Daily Overseas New Media)15:53, June 20, 2019

Millions of world-beating travelers might have never imagined that their pint-sized smartphones will be creating a huge leap for the tourism industry in China.

From glowing skyscrapers to idyllic terraces, most of them pinpoint their visits to the landmark to share cultural pride or appreciation for nature, while some tag their trips to show theyve been there.

Chinese tech-savvy travelers have shared their trips and adventures digitally by tagging geo-location of their pleasures in videos they shareonline, which, in turn, get likes but also encourage more trips to the tagged places.

As short-video is the key driver of Internet usage growth in China across all app categories, according to this year鈥檚 iconic Internet Report 2019 by legendary analyst Mary Meeker. Video sharing platforms are also emerging as hubs for the tourism industry.

Screenshots of Douyin videos

Shooting a one-to-two-minute-long video on your smartphone while on the move has become a new trend among Chinese travelers, revealed a report jointly launched by the Chinese leading online travel agencies TongCheng-eLong and Mafengwo at a tourism-themed conference on Thursday in Beijing.

Nearly 60.8 percent of users have shared travel experiences online as of last year, 42.3 percent of which have shared at least one short video, according to the report.

By April 2019, Chinese users spent a total of nearly 600 million hours on a daily basis watching short videos via smartphones from leading video-sharing apps such as Douyin and Kuaishou, the report continued.

鈥淚mmersive full-screen video interface is able to unfold the dynamic pulse while one is traveling,鈥?Zhu Ling, a person in charge of ByteDance鈥檚 video-boosted tourism program said at the conference.

ByteDance is the mother company of Douyin, internationally known as TikTok, which has topped Apple鈥檚 apps download chart, beating Facebook and YouTube in the first quarter of 2018, and gathering 250 million daily active users from over 150 countries and regions.

Addressing the conference, Li Lin, a vanguard filmmaker in China, also recognized that tech is now revolutionizing the travel industry.

鈥?G apps may hold more promise in the near future. The unstoppable video-sharing trend is so transformational that it has gain its toehold in the tourism business, especially when we鈥檙e collaborating with digital media and user-generated content,鈥?Li pointed out.