If the asset bubbles are not deflated, China's economy cannot continue to grow and its financial market will face a huge risk. For example, housing prices in the first-tier and some second-tier cities rose sharply in the first half of this year, which "land speculators" used to their utmost advantage.
More than half of the college students who responded to a nationwide survey said they didn't participate in outdoor activities during the summer vacation. They wake up late, have their meals at irregular intervals and spend a majority of their time surfing the internet, according to the survey. And more than 70 percent of the students said life during the summer vacation was boring and meaningless.
Ma Rong, wife of actor Wang Baoqiang, entrusted her lawyer to file a lawsuit in a court in Beijing's Chaoyang district on Tuesday, accusing the actor of maligning her reputation by writing on his micro blog that she had an affair with his agent for which he was divorcing her. Ma has demanded that Wang delete the post and apologize to her.
In recent years, African-Americans have taken to the streets across US cities following the fatal shootings or other brutality against black people by police officers. Marches organized by the Black Lives Matter movement were quite noticeable during the recent 2016 Democratic National Convention in Philadelphia on July 25-28.
Despite opposition from domestic interest groups, US President Barack Obama has reportedly been mulling a no first use policy for the country's nuclear arsenal.
The State Council, China's Cabinet, has taken another major step toward linking the stock markets of the mainland and Hong Kong by approving a plan to link trading between the Shenzhen stock exchange and that in the special administrative region.
THE WORLD'S FIRST quantum communication experimental satellite was successfully launched into space on Tuesday from Jiuquan in Northwest China's Gansu province. Beijing Youth Daily commented:
ANY PASSENGER twice caught violating the smoking ban on high-speed trains will be forbidden from purchasing tickets, according to a new regulation introduced by China Railway Corp that came into effect on Monday. Beijing Youth Daily commented on Wednesday:
THE GOVERNMENT is paying China's gold medal winners at the Rio Olympics 200,000 yuan ($30,159), less than half the 500,000 yuan it paid the country's gold medal winners at the 2012 London Olympics. Beijing News commented on Wednesday:
A backload of issues will be addressed at next month's G20 Leaders' Summit in Hangzhou, East China's Zhejiang province. At a time when the world economy is struggling to recover from global financial crisis, still showing a low growth trajectory and high unemployment, the G20 is striving to turn itself from immediate crisis management to a mechanism for establishing long term governance strategies for better macroeconomic coordination and cooperation to prevent future crises.
Some people suppose industrial upgrading means waning demand for "low-end" workforce, and therefore urban areas should restrict the inflow of "low-end" workers by implementing a stricter household registration policy. This is a big misunderstanding.
Last week, the Australian government blocked State Grid Corporation of China and Cheung Kong Infrastructure Group's bid to lease Ausgrid, a major New South Wales state power grid, on national security grounds. The two Chinese companies had bid $7.7 billion to lease the grid for 99 years.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
