1. Chinese woman shot dead by US law enforcement in California
Netizen identified Chinese woman who was shot dead by US law enforcement officers in California, as one of the former top graduates of Yale university and former employee of Pfizer. Accounts from law enforcement officers claimed that the shooting response was due to the deceased brandishing a knife when served an eviction order. Netizen added that he had informed law enforcement of deceased’s schizophrenia condition and requested for them to settle via peaceful means. Other netizens said that the female law enforcement officers had tazers, plus the sheriff called for canine unit which provoked the deceased’s aggressive response.
Source: https://new.qq.com/omn/20220315/20220315A02J9W00.html
2. Chinese officials discovered flaws in hydropower stations during blitzkrieg audit
Inspectors from the state council safety committee, visited a hydropower station in Yunnan and discovered many cracks in the walls of the station, several degrees of water leakages in various places and other safety issues. The inspectorate team then visited 46 other enterprises in seven key industries such as hydropower, mining, hazardous chemicals, etc and discovered several issues of concern. The lack of clarity in regulatory responsibility and administrative responsibility, complicated the supervision of these infrastructures.
Source: https://new.qq.com/omn/20220306/20220306A0295900.html
3. Saudi Arabia in discussion with China on the use of Chinese Renminbi for oil trading
Rumors run rife on the internet that India and Belarus intended to do oil trading with Russia, without using the US dollar. Apart from this, Saudi Arabia, the world’s largest crude oil exporter, was considering doing oil trading with China, with the Chinese Renminbi. This would enhance the status of the Chinese Renminbi, which previously ranked fourth in the world, accounting for 3.2% in global payments. After the news was released, the yuan rose nearly 200 basis points.
Source: https://new.qq.com/omn/20220316/20220316A0432G00.html
4. Alibaba laid off almost 30% of its workforce and may continue to do so
Downturn in the economy, turmoil in the financial markets and the sharp decline in the value of the technology stock markets, continued to plague Alibaba and sources indicated that layoffs might continue. The lifestyle service group was impacted the most by the recent corporate restructuring. ECommerce, research and development, and operations were not affected but the headcounts of Alibaba’s cloud unit were frozen. Alibaba was facing difficulties in sustaining revenues and would focus more on current businesses and overseas expansion.
Source: https://new.qq.com/omn/20220317/20220317A0658R00.html
5. Will Liu Qiangdong be the richest man in China next year?
According to Hurun Research Institute’s latest list of top 20 richest people in China, 68-year-old founder of Nongfu Mountain Spring, still ranked 15th in China with 455 billion yuan after his wealth shrunk by nearly 100-billion-yuan last year. Bytedance’s Zhang Yiming ranked 2nd with a wealth of 340 billion yuan, Zeng Yuqun ranked 3rd and Ma Yun at 5th placing. Netizens argued that Liu Qiangdong might have the greatest potential to be the richest person in next year’s ranking. Netizens highlighted Liu Qiangdong’s trump card, JD Finance with plans for IPO this year.
Source: https://new.qq.com/omn/20220319/20220319A00A6N00.html
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