According to a news release from the local fire department, the battery of an electric bicycle parked beside a building for s
tudents ignited, starting the fire. The incident is still being investigated and some people have been detained.
This is not the first fatal fire caused by an electric bicycle. In December 2017, five people were killed and nine injured when an electric bike started a fire in Beijing, and
in July last year, one person was killed and another injured in Wuxi, Jiangsu province. In fact, type “electric bicy
cle” and “fire” into any online searching engine and you will get hundreds of pages recording them.
How could that happen?
me. There are already 300 million electric bicycles in China, roughly one for every four persons.
However, when it comes to charging the bikes, a big proble
m has emerged. As a growing number of people live in residential buildings without separa
oing supply-side structural reform, as it is still dominated by the 268-trillion-yuan banking system, the analysts said.
The restructuring process will accelerate as more foreign capital
moves in, which can boost competition in the domestic market, the analysts added.
In the medium term, continued financial reform and more opening-up measures co
uld boost capital inflows, said Lillian Li, a vice-president at rating agency Moody’s.
But trade disputes between China and the United States and uncertainty over monetary policy in global markets may dam
pen capital inflows, and the pace of capital inflow is likely to fluctuate in the near term, she said.
Having the world’s second-largest equity market and the third-largest bond market, China will likely usher in more inte
rnational capital flows in the longer term, if the nation further liberalizes its financial system, she added.
Under a pilot scheme, the first group of six provinces and cities sold 6.8 billion yuan in bonds
at commercial bank counters to individual buyers between March 22 and early April.
The coupon rates are between 3.01 percent and 3.33 percent, higher than treasury b
onds issued by the central government as well as bank deposits with the same maturity.
Gross local bond issuances hit 1.18 trillion yuan in the first qua
rter, compared with only 219.5 billion yuan in the same period last year.
The total quota for 2019 local government bond issuances is 3.08 trillion yuan, according to the Ministry of Finance.
“About 60 percent of the bonds were issued for ongoing construction, especially
for shantytown renovation projects, railways and roads,” said Hao Lei, head of the ministry’s Budget Department.
While debt financing continues to grow, the government is experiencing sharp declin
es in fiscal revenue growth, especially from tax and land sales, official data showed.
ded souls face to face.The Beijing native, who quit his job in the hospitality industry and opene
d the shop 17 years ago, says seeing people in the shop, no matter they are looking for something in particula
r or simply browsing, is a delight. Over 16 years Free Sound has sold about 300,000 records, he says.
“It started out as a dream for me and I feel so fortunate to have lived out that dream.”
Wang, in his mid-40s, was introduced to music by his parents, who played vinyl records at home. One of his
favorite singer-songwriters is the Chinese rock musician Cui Jian, and like many music lovers of his generat
ion, Wang enjoyed going to record shops. Sound quality and nostalgia are what draws him to vinyls, he says.
For many people it has long appeared that traditional physical records such as vinyl and cassettes were
on the edge of extinction in the face of online streaming brought by the internet revolution.
Between 2002 and 2005 in particular, the fall in sales of CDs and other ty
pes of musical recordings in China was precipitous, mostly as the result of piracy and online
streaming, and the customer base for record shops evaporated as people stopped buying physical records.
ains into service. It said residents in the city would likely make about 340,000 trips by train on Friday.
Other branches of the railway system have also launched more runs to handle the increase of holiday passengers.
Tomb Sweeping Day, also known as Qingming Festival, fell on Friday this year. It i
s a traditional Chinese day on which people pay tribute to deceased family members,
friends and national heroes. Chinese people have used the day for spring outings since ancient times.
In recent years, the number of Chinese travelers, to both domestic and foreign destinations, d
uring the Tomb Sweeping Day holiday has increased annually, and most of them travel by rail for some or all of the j
ourney. For destinations within China, railways offer lower prices and more choices than airlines.
At present, China operates more than 131,000 kilometers of tracks. That fig
ure includes more than 29,000 km of high-speed rail, two-thirds of the global total.
Last year, China invested more than 338 billion yuan ($50 billion) in the construct
ion of 26 new railways and opened new lines totaling 4,683 km, most of them high-speed.