News » China » Real estate financier held on fraud charges

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• Real estate financier held on fraud charges
• Chinese continue to seek residency overseas
• World's stargazers cluster in Beijing for conference
• Technology to ease delays at border
• Government orders audit of vehicle use
• Chinese state councilor calls for closer ties with Russia
• Chinese VP attends opening ceremony for 28th General Assembly of IAU
• Ancient tomb threatened by soil looters
• Japan proposes to S. Korea to take island feud to ICJ
• China adds 200 mln yuan for pest control
• Police bust bogus cigarette gang, seizing 9
• 'Professional' begging list beggars belief
• Qihoo's new search engine leapfrogs Google in China
• U.S. should cease to stoke tensions over Diaoyu Islands
• Senior Chinese leader makes law enforcement inspection
• Police officer drunk when killing 3 in car accident 
• Police officer drunk when killing 3 in car accident 
• Police hurt as pistol goes off in campus scuffle
• Widening wealth gap in rural China nears warning level
• TV host destroys 'relics' on show

Real estate financier held on fraud charges Posted: 21 Aug 2012 11:58 AM PDT Yu Jinyong, a high-profile Chinese businessman specializing in real estate financing, has been arrested on suspicion of commercial fraud, officials said. Yu, president of the board of China Shidai Investment Holding Group, a real estate investment and developing company, was arrested by the Haidian District People's Procuratorate on Friday. Zhou Zhicheng, from the district's prosecuting authority, told China Daily that Yu is alleged to have been involved in a case of contractual fraud. Wu Danhong, an associate professor at China University of Political Science and Law, reported Yu to the police in 2010 after allegedly discovering Yu was manipulating the bidding process of a real estate program in Shandong province's Liangshan county. With fake contracts, Yu was alleged to have swindled a 500,000 yuan ($78,650) deposit from a company that won the bid, Wu said. "It was nothing personal to have reported Yu," Wu said. "But it is everyone's duty to expose lies." Wu said Yu is another celebrity to fall from grace after allegedly cheating the public. The arrest has once again put the well-known Yu under public scrutiny. He has previously been accused of having forged his academic qualifications and faked a charity donation. Yu has claimed online that he is a postdoctoral fellow at Peking University. However, staff members at the administration office of the university say there is no record of Yu, the Beijing Times reported on Tuesday. In 2010, Yu became famous on the Internet for defending Tang Jun, the former president of Microsoft China, after it was revealed Tang lied on his resume. Both Yu and Tang claimed to hold doctoral diplomas from Pacific Western University in the United States, but Chinese media pointed out that the university was a "diploma mill". The Beijing Times also reported that Yu has failed to meet his commitment to donate 500,000 yuan to a primary school that was destroyed in the 2008 earthquake in Sichuan province, despite Yu's winning charity awards based on this promise. Wang Xing, a Beijing-based lawyer specializing in criminal cases, said Yu could be sentenced to more than 10 years in prison if he is found guilty of swindling such a large amount of money. "The criminal in the case of fraud, with the purpose of illegal possession, will receive a heavier penalty than those in normal economic disputes," he said. Wang said business fraud is a common crime in China as there are many fly-by-night companies and market players that lack business integrity. But in reality, it is difficult for the police to obtain enough evidence to prove a case is fraud, Wang said. Wang suggested the police focus more resources on investigating business fraud. tanzongyang@chinadaily.com.cn

Chinese continue to seek residency overseas Posted: 21 Aug 2012 11:58 AM PDT Despite tightening immigration rules in many destinations popular with Chinese immigrants, the number of applicants — who have growing wealth and a desire to live elsewhere — continues to rise. This year it has become even more difficult for many Chinese citizens to realize their immigration dreams, as most of their favorite destinations are adjusting immigration rules with higher qualification requirements and fewer openings. Canada announced in late June that it would temporarily suspend new applications to the Federal Skilled Worker Program and Federal Immigrant Investor Program, effective on July 1. The government is expected to accept applications again in January. Meanwhile, Quebec, a province of eastern Canada, has limited the maximum number of investor applications between March 21, 2012, and March 31, 2013, to 2,700. "This has been a heavy blow to new applicants, applicants being processed and the immigration intermediaries in China like ours," said Ding Wei, director of the Canadian immigration department at JJL Overseas Education, a Beijing-based education and immigration intermediary. According to Ding, many ongoing application cases in his company have stalled. "Applicants being processed have to wait longer, with a higher chance of being turned down," Ding told China Daily. Canada is not alone in having new immigration rules. Australia, for which China is the biggest source of immigrants, on July 1 introduced a new Skilled Migrant Selection Model, one of the biggest changes to the Australian immigration system in years. The new system will be less convenient for prospective immigrants to Australia. They will have to wait probably about six months to find out if they are allowed to make an application. According to Ma Jing, who is in charge of the Australian immigration department at JJL, the new model has higher requirements, including education, language ability and business experience. Because more detailed rules have yet to come out, "now is a transition period with fewer new applicants to Australia", Ma said. However, Ma is optimistic about a continued increase in the number of new applicants in the future. "Generally speaking, it has become more and more difficult to move to other countries with higher requirements, including investments, but Chinese people's wealth is also on the rise," Ma said. Ding said that people may turn to other countries such as the United States and some European countries instead of Canada, since not all news is bad news. The US on Aug 14 directed young illegal immigrants to fill out new forms and pay $465 if they wanted to apply under a new program that will let them avoid deportation and obtain a US work permit. Earlier this month, the US Congress agreed in principle to a three-year reauthorization of the EB-5 Regional Center Program, which grants residency permits to foreign investors, a program that is due to expire in September. Ding is not surprised: "The US knows well the benefits to the development of its regional economy and employment as a result of Chinese investors." In Europe, at the French Senate's Judicial Committee hearing on July 24, French Interior Minister Manuel Valls signaled that the new Socialist government of President Francois Hollande intended to make changes to French immigration law. Valls' plans would make it easier for foreign students to work in France after their graduation, said Daniel Kahn, founding partner of French law firm Kahn & Associes in Paris. Furthermore, if other measures are made regarding the residence and work permit authorization, the lives of foreign employees in France will be more stable, and they will be encouraged to settle in France for good, Kahn said. Kahn noted that the French government recognizes that non-EU students who have graduated from French universities are an asset to the French economy. "All companies established in France will benefit from this change in French immigration law," he said. Many Chinese students are studying in France. Some of them graduated from the most famous French business, commercial and engineering schools and institutes of political science. "They speak two or three languages and have a Sino-French cultural background," said Kahn. "The new immigration policy should enable many of them to find suitable and interesting positions in French companies and obtain the appropriate work permit." No matter how the rules are changed, people's wish to live elsewhere simply won't fade. Ma said that many of her clients have children who study abroad. "They feel it's a pity if their children spend years studying in a foreign country without obtaining citizenship there. So they apply for immigration, which can also help their children," Ma said. "People also want to have a life with less pressure and to enjoy a better pension when they grow old after emigrating to countries like Australia," Ma said. As for businessmen who travel around the world from time to time, a foreign passport can mean less time waiting for a visa, compared with a Chinese passport, Ma said. Yao Lei, 29, a senior system administrator on global infrastructure in the IT industry at a US company in Beijing, will soon join the middle-class force with a good salary. But he has found new momentum for life after making a decision to emigrate to the US. He plans to acquire permanent residence under the EB-1A category, which is for immigrants who can demonstrate extraordinary ability, with the help of his US-based company. He has found that his specialty is increasingly in demand, even in the US. "I think I can get a higher salary, a life with less pressure and easier access to educational opportunities for my children in the future," Yao said. Contact the writers at chengguangjin@chinadaily.com.cn and lixiang@chinadaily.com.cn

World's stargazers cluster in Beijing for conference Posted: 21 Aug 2012 11:58 AM PDT An increasing number of science and technology international conferences are being held in China, as the country's scientific research and innovation capabilities and influence continue to grow. The latest example is the 28th General Assembly of the International Astronomical Union, which is being held in Beijing from Monday to Aug 31. This is the first time China has hosted the triennial event since joining the organization in 1935. "Over the past 30 years, since China adopted the reform and opening-up policies, it has not only opened its door for economic development, but also for exchanges in science and technology," Vice-President Xi Jinping said at the inaugural ceremony of the IAU meeting on Tuesday. Recently, China has hosted a series of prominent science and technology events, including the 24th International Congress of Mathematicians in 2002, which was held in Beijing, and the first session of the World Engineers Conference in 2004 in Shanghai. Since 1922, the IAU General Assembly has been the most important conference for the international astronomy community. "The events have helped China's scientific and technological circles expand their international perspectives, and helped international scientific and technological circles deepen their understanding and knowledge about China," Xi said. "The events also promote exchange and cooperation between Chinese and international scientific and technological circles, and create conditions for China to contribute to the development of science and technology in the world," Xi said. "Science goes beyond national borders," Xi said, calling for more pragmatic international cooperation to develop the science and technology field. Astronomers from around the world will discuss the most recent discoveries about the universe at the IAU meeting. "The contributions of Chinese astronomy to human knowledge and our understanding of the cosmos have been of historical significance, from the earliest to modern times," said IAU President Robert Williams. "The participants will have an opportunity to experience the wide range of astronomical activities now taking place in China that include new projects, facilities, and institutes, " Williams said. The International Congress of Theoretical and Applied Mechanics began a day earlier than the IAU conference and will continue until Friday in Beijing. The event has attracted 1,500 industry representatives from 66 countries, Xinhua News Agency reported. "The congress is a milestone for China's development in the field," Hu Haiyan, president of the Chinese Society of Theoretical and Applied Mechanics, the chief sponsor of the congress, told Xinhua. China has made constant advancements in terms of the quality of mechanical research in recent years, using the breakthroughs to boost economic development, Hu said. He cited the role of mechanical engineers in ensuring the success of the Three Gorges project, as well as the country's manned space missions and lunar exploration program. chengguangjin@chinadaily.com.cn

Technology to ease delays at border Posted: 21 Aug 2012 11:58 AM PDT Passengers entering and leaving the country should soon see a reduction in waiting time at the border. "We've invested heavily to improve the technology system and equipment to tackle the congestion at ports," said Li Junjie, deputy director of the Ministry of Public Security's exit and entry administration bureau. Speaking to China Daily in Shanghai on the sidelines of an international conference on immigration inspection and service, Li said the technology used by China's inspection authorities had not kept pace with the sharp increase in passenger inflow and outflow. As a result, border crossings have experienced congestion from time to time. But that situation is about to change, Li said. "We've established an application network with the immigration inspection system as its core, and underpinned by the exit and entry administration central database," he said. It is further supported by systems for global visas, the information forecasting system of passengers on international flights, advance clearance of ships, automated clearance service for passengers and vehicles, as well as closed circuit television monitoring and video and telephone conferencing. "Through these systems, we're able to check the situation of any port in the country at any time, and give instructions and orders quickly," Li said. "We can also compile entry and exit statistics, and identify problems happening on the front line and make corrections in a timely fashion." These systems are important in ensuring safe and smooth immigration clearance, he said. For example, 416 automated passenger channels for self-service immigration clearance have been set up in 18 big border checkpoints. For passengers who have already had their personal information stored in the database, it takes only five to eight seconds to finish the immigration check procedures at borders. Among the 410 million passengers arriving and departing last year, 30 percent of them benefited from the automatic clearance. There are 154 automated vehicle channels at six land border checkpoints, and among the 23.7 million vehicles crossing the border last year, 63 percent used the automated channels with clearance shortened to about 10 seconds, according to ministry figures. In May, the ministry also issued electronic passports for ordinary users, which have further facilitated passengers and enhanced security in immigration clearance, Li said. In addition, border checkpoints have been equipped with document identification equipment, and a three-level online identification system has been set up to enhance capability to distinguish fake credentials, he said. According to ministry statistics, there are more than 270 entry checkpoints in the country connected with the international transport network by air, land and sea. In 2011, the number of arriving and departing passengers at various ports reached 410 million, among which 54.1 million were foreign visitors. "With such rapid and significant growth, the demands of arriving and departing passengers on the efficiency of immigration checks are getting higher and higher," said Zhou Changhui, a professor on management from Peking University. "The promotion and upgrading of information technology will greatly reduce management costs and improve efficiency," he said. "However, global cooperation is needed, such as to share technological innovation and immigration information," he said, adding that countries like Australia and the Netherlands have provided substantial assistance to China in document identification. zhangyan1@chinadaily.com.cn

Government orders audit of vehicle use Posted: 21 Aug 2012 11:58 AM PDT State-owned institutions, including hospitals and universities, have been ordered to audit their use of official vehicles, in yet another move aimed at curbing the misuse of public resources. The directive follows a nationwide investigation of government and Party authorities. Results of the probe, released in June, found that 199,600 vehicles were purchased or used improperly. The order, issued online on Monday by the Ministry of Finance, says that institutional organizations registered by the end of 2011 and subject to official financing and accounting regulations must submit a report on vehicle use by Oct 31. The goal is to "learn the number, structure, distribution and management of official cars", and "to safeguard the making of policies that regulate and enhance the management of official cars". The focus is on discovering the number, prices, engine displacements, status and uses of the cars, it said. For comparison organizations must report the number of staff, the brand of the car and how and when they acquired it. Organizations must also sum up how many sedans, coaches, off-road vehicles and trucks they maintain, and how many of those are for business usage. And they must collect the information themselves. Many netizens have said that the self-examination is unlikely to reveal problems. Chen Guannan, a contact person for the operation at the ministry, said she is aware of the concerns voiced online but refused to disclose how the ministry will check the accuracy of the data or how it will publicize the information. However, insiders like Ye Qing, a deputy to the National People's Congress and an advocate of reforming the official car system, said they believe the self-audit will be followed by other actions, including possible punishments for those found to have abused the system. In the previous investigation, 170 were disciplined. Ye said authorities will also verify the information that institutional organizations submit, make corrections and then revise regulations and policies. "The public will find the scrutiny of car misuse will increase in the future. It won't decrease at all," Ye said, adding that the ministry asked for more detailed information from institutional organizations than it did last time from government authorities. There are more than 30 million people working in 1.26 million institutional organizations in China, and 6.89 million civil servants work in government authorities, according to official figures. Ye said the misuse of official cars is more serious among institutional organizations than in government bodies because of the difference in scale, and because institutional organizations apply less-vigorous management oversight and have an easier time finding excuses to misuse the vehicles. Jiang Kelan, a doctor in Guizhou province, said a hospital in her county spent funds set aside for rebuilding an office building to buy sedans for hospital managers' use in recent years. Ye expects the information collected will help the government decide how to pursue reforms in the future. wanghuazhong@chinadaily.com.cn

Chinese state councilor calls for closer ties with Russia Posted: 21 Aug 2012 09:54 AM PDT China and Russia should further development of their friendly relations to benefit the two peoples and the world, visiting Chinese State Councilor Dai Bingguo said here on Tuesday.

Chinese VP attends opening ceremony for 28th General Assembly of IAU Posted: 21 Aug 2012 09:01 AM PDT Chinese Vice President Xi Jinping addresses the opening ceremony for the 28th General Assembly of International Astronomical Union (IAU) in Beijing, capital of China, Aug. 21, 2012.

Ancient tomb threatened by soil looters Posted: 21 Aug 2012 05:37 AM PDT Chinese archaeologists said a 2,100-year-old tomb famous as the final resting place of a perfectly preserved female corpse is being threatened by residents' rampant soil looting as local residents believed that good "feng shui" there produced "holy soil".

Japan proposes to S. Korea to take island feud to ICJ Posted: 21 Aug 2012 06:35 AM PDT The Japanese government on Tuesday formally proposed to South Korea that the two countries take their territorial feud over a group of disputed islets in the Sea of Japan (East Sea) to the Hague-based International Court of Justice (ICJ) for arbitration. • Japan mulls diplomatic shake-up

China adds 200 mln yuan for pest control Posted: 21 Aug 2012 05:09 AM PDT China's Ministry of Commerce said Tuesday that it has allocated an additional 200 million yuan (31.75 million U.S. dollars) in subsidies to assist in pest control efforts.

Police bust bogus cigarette gang, seizing 9 Posted: 21 Aug 2012 03:41 AM PDT Police bust bogus cigarette gang, seizing 9

'Professional' begging list beggars belief Posted: 21 Aug 2012 03:17 AM PDT Police in Shanghai have published a list of beggars who have been caught most often on metro trains over the past four years, sparking debates about the problem of "professional" beggars.

Qihoo's new search engine leapfrogs Google in China Posted: 21 Aug 2012 02:23 AM PDT Qihoo's newly launched search engine so.360.cn has, in just five short days, overtaken Google and Sogou to become China's second-largest online traffic source.

U.S. should cease to stoke tensions over Diaoyu Islands Posted: 20 Aug 2012 10:25 PM PDT As tensions between China and Japan over the Diaoyu Islands have been gravely heightened by Tokyo's egregious provocations, it is advisable that the United Statesnot fan the flame in the region.

Senior Chinese leader makes law enforcement inspection Posted: 20 Aug 2012 08:25 PM PDT Senior Chinese leader Zhou Yongkangon Monday inspected procuratorial, judicial and law enforcement departments in Beijing and Tianjin, calling for standardization of law enforcement work, according to a news release made available on Tuesday.

Police officer drunk when killing 3 in car accident  Posted: 21 Aug 2012 01:09 AM PDT Pedestrian-killing police driver in SW China was intoxicated: investigation

Police officer drunk when killing 3 in car accident  Posted: 20 Aug 2012 11:52 PM PDT Pedestrian-killing police driver in SW China was intoxicated: investigation

Police hurt as pistol goes off in campus scuffle Posted: 21 Aug 2012 12:00 AM PDT Seven suspects have been detained in southwestern Yunnan Province for disrupting law enforcement as they allegedly tried to seize a gun from a policeman, causing it to go off and injuring the officer.

Widening wealth gap in rural China nears warning level Posted: 20 Aug 2012 11:55 PM PDT Households in rural China have seen incomes increase on average over the past three years, but the wealth gap in the vast countryside has almost reached the warning level, a top Chinese institute for rural studies said Tuesday.

TV host destroys 'relics' on show Posted: 21 Aug 2012 12:38 AM PDT Tianxiashoucang and Capital Museum recently held a joint exhibition to examine a collection of porcelain artifacts. Out of the 300 pieces destroyed by Wang Gang, 30 were selected to compare with the authentic pieces displayed in the museum.

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