Skip to content
Liu Hong, Party secretary and president of the People’s Insurance Company of China (PICC), is being investigated for suspected v
iolations of Party disciplinary rules and laws, according to an announcement of the top anti-graft agency on Friday.
He is being investigated by the discipline inspection and supervision team of the China Cent
ral Commission for Discipline Inspection and the National Supervisory Commission, according to the announcement.
Liu, 56, was appointed Party secretary, director and president of the PICC since October
A total of 1,883 private equity and venture capital deals were compl
eted in China’s telecommunications, media and technology industry in the second half of last
year, accounting for 46 percent of total PE/VC investment, a record number since 2016, according to a PwC report.
The report showed that 1,290 PE/VC deals were clinched in the third quarter of 2018, while in th
e fourth quarter, the number of PE/VC deals in TMT sectors dipped to below 600, as overall PE/VC investments plunged.
In the second half of 2018, there were 54 large-size deals with a single deal value over $100 million, and these large-size deals
had a total value of $21.3 billion, making up 76 percent of the total in TMT sectors in the second half.
natural reserves. So far, more than 100 illegal mining projects have been withdrawn from Mount Qilian National Park, one of the country’s 10 pilot national parks, Zhang said.
Under a plan released in 2017, China aims to set up a batch of national parks covering ab
out 200,000 square kilometers, and to form a unified management system by 2020.
China’s achievement in afforestation was recognized in a study by the United States’ space agency NASA published last month. It sa
id China and India are leading the increase in greenery globally – with China alone accounting for a qua
rter of the global net increase in leafy area despite having only 6.6 percent of the world’s vegetated area.
Tax authorities are preparing to enact significant tax cuts and fee reduction
s, said Wang Jun, commissioner of the State Taxation Administration, on Tuesday.
China is establishing measures to cut taxes and fees by nearly 2 trilli
on yuan ($298 billion) this year, said Premier Li Keqiang in his Government Work Report.
ing act in South Asia in the past year, after easing some regional tensions.
In July 2017, for example, there was a heated month-long territorial standoff between Chinese and Indian troops in Doklam, near the borders of India, China and Bhutan.
The two powers nearly came to blows over accusations the Chinese gov
ernment was building a road inside the territory of close Indian ally Bhutan.
Nearby, China also conducted live-fire drills with combat troops.
But a warm, informal summit between Chinese President Xi Jinping and Indian Pri
me Minister Narendra Modi in April 2018 helped put relations back on a positive track.
”The common interests of China and India far outweigh
their differences,” state-run newspaper China Daily said in an editorial at the time.
The situation is much clearer for China across the border. Pakistan is a longtime f
riend and trading partner of Beijing, described by Chin
ese diplomats as enjoying an “all-weather friendship” with the country.
Pakistan is also one of the largest buyers of Beijing’s weapons. Between 2008 and
2017, Islamabad purchased more than $6 billion of Chinese arms, according to think tank CSIS.
It hasn’t all been easy sailing, however. Questions have been raised about the
large debts Pakistan has accrued as a result of Chinese government loans and infrastructure.
But Pakistan Prime Minister Imran Khan has been determined to keep the special rela
tionship with Beijing strong. “We need to use China as an inspiration to lift our people out of poverty,” he said.
NEW YORK — A Boeing 767 cargo jetliner with three people on board crashed into a bay near Housto
n’s George Bush International Airport on Saturday, said the US Federal Aviation Administration (FAA).
It is unlikely that anybody could have survived, said Brian Hawthorne, sheriff of the Chambers County of the US state of Texas.
Hawthorne told local newspaper Houston Chronicle that police have found human remains at the si
te of the crash and investigators have recovered parts of the plane, the largest at 50 feet (around 15 meters) long.
The twin-engine plane, operated by Atlas Air, was flying from Miami to Houston wh
en it crashed shortly before 12:45 pm local time (1845 GMT), said the FAA, add
ing that radar and radio contact was lost with the aircraft at around 30 miles (48 km) southeast of the airport.
The US National Transportation Safety Board will be in charge of the investigation, it said.
Meanwhile, Atlas Air said the flight was being operated for Amazon.
“Our main priority at this time is caring for those affected and we will ensure we do all
we can to support them now and in the days and weeks to come,” Atlas Air said in a statement.