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Noose Tightens on Dangerous Debt
China’s insurance regulator announced on February 23 that it had seized control of Anbang Insurance Group and that its chairman, Wu Xiaohui, had been charged with financial crimes that included illegal fund-raising, fraud and embezzlement. The regulator said it would run the company for a year.
New Airport Takes Off
Beijing’s new international airport, located 46 kilometres south of downtown Beijing, will start trial operations in October 2019.
Sweeping Government Overhaul
China has introduced a major government overhaul to make its bureaucracy better-structured, more efficient and service-oriented.
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Zoom In On Privacy
According to statistics from consultancy firm IHS Markit, China has installed 176 million surveillance cameras in both public and private areas, and the number is expected to hit 626 million in three years. Surveillance cameras are installed at home mainly for security or to keep an eye on children when parents are at work.
EVs at a Crossroads
In 1983, Shanghai Volkswagen, a joint venture between SAIC Motor and the Volkswagen Group, rolled out the Santana brand, a car popular on the Chinese market for more than two decades.
On-the-Job Improvement
According to a recent report released by LinkedIn on Chinese employees’ investment in education, 44.85 percent of office employees in China were worried because their professional skills were not improving, and 45.62 percent of employees tried to pursue higher salaries through self-investment in education and training programmes.