In Monday's Papers: Housing Prices in Major Cities Rise in October, Indebted Hunan Businessman Commits Suicide

Home Prices in Major Cities Rise in October

Property prices in major cities continued their rapid rise in October. The National Statistics Bureau said that of the 70 large and medium-sized cities it monitors, only Wenzhou, in the eastern province of Zhejiang, reported that prices in October fell compared to the same month last year. Shanghai saw the fastest year-on-year growth, at 21.4 percent, while Beijing, Guangzhou and Shenzhen all reported increases of more than 20 percent. The average price of a new apartment in the 70 cities rose 0.7 percent in October from September. Liu Jianwei, a senior statistician at the bureau, said slower month-on-month growth in October is due to tightening controls in some cities and increased supplies.

Original article by China Business News

Indebted Hunan Businessman Commits Suicide

A businessman in Xiangtan, in the central province of Hunan, committed suicide after his company's capital chain broke. Police said on November 15 that Wang Jianzhong, chairman of Hengdun Group, killed himself by jumping off a local government building on November 12. Wang's company has 548 million yuan in unpaid debts, including 230 billion yuan from private financing sources. Hengdun Group, with core business is bamboo products, experienced rapid expansion in recent years. Executive Liu Wei said the company has invested more than 100 million yuan into a tourism project, which has put great pressure on the firm. Wang had debt on 18 credit cards and delayed paying employees.

Original artile at 21st Century Business Herald

Xi Meets Bill Clinton in Beijing

President Xi Jinping met former U.S. president Bill Clinton in Beijing on November 18. Xi applauded Clinton's efforts to promote bilateral ties and enhance cooperation in poverty reduction, charities, health and epidemic prevention, particularly in the area of HIV/Aids. Xi said the Sino-U.S. relationship was going in the right direction despite ups and downs. Clinton voiced support of China's decision to deepen market reforms.

Original story by Xinhua

11 Killed in Attack on Xinjiang Police Station

Nine people who attacked a police station in the far western region of Xinjiang were shot and killed on November 16. Two police officers died in the incident in Bachu County and two others were injured. The attackers used knives. Five people died in what authorities described as a terror attack in Tiananmen Square on October 28.

Original story by Xinhua

Secretary of Quake-Hit City Fired

Xu Mengjia, the Communist Party secretary of Ya'an, a city in the southwestern province of Sichuan that was hit by large earthquake this year, was removed from his post on November 18. The local government did not say why he was removed. Xu was widely criticized for a TV interview about the quake. During that interview, he was going to great lengths to praise local leaders, but was cut off by a reporter who insisted on asking about specific rescue measures.

Original story by China Youth

Alipay to Charge Fees for Transfers on PCs

Alipay, Alibaba's online payment service, will begin to charge a 0.1 percent fee for every money transfer using standard computers starting on December 3. Users had enjoyed free transfers under a 20,000 yuan monthly limit and paid a 0.5 percent transfer fee for amounts over that. Alipay users can use the service to make a range of payments, from online purchases and utility bills to sending money to individuals. All transfers made on mobile phones will still be free. The move was aimed at encouraging a transition from PCs to mobile payments. Alipay has more than 900 million accounts, and 100 million mobile users.

Original story by Caixin