n April 2018, Shanghai police arrested eight people from Shanlin (Shanghai) Financial In

formation Service Co, which was involved in illegal fundraising of more than 60 billion yuan.

The company, with a registered capital of 1.2 billion yuan, adopted a physical store and online ma

rketing to take public deposits. From October 2013, the company opened over 1,000 physical stores

across the nation and trained its employees to sell financial products through advertising and telemarketing wit

h the promise of high interest. In 2015, the company opened online financing platforms to raise money.

The company’s claimed investment projects were found to have no profit

ability, resulting in a huge capital gap that prevented it from repaying investors’ principal and interest. Last

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public offering at $17 per share on Nasdaq Stock Exchanges, CNBC reported on Friday.

This price is at the top of its expected range from $15 to $17 in a regulatory filing, indicating the value of the company at about $4.2 billion.

Luckin Coffee raised $150 million in the most recent Series B+ round of financing, lifting the B

eijing-based company’s valuation to about $2.9 billion, the company announced on April 18.

With the aid of new technology, Luckin Coffee provides customers convenient service with innovative business model.

“The old way is people looking for coffee. With us coffee finds the people,” Luckin Coffee’s Co-founder Eric Guo told CNBC.

As a representative of China’s new retail based on mobile app, Luckin Coffee, founded in 2017, has expanded at a rapid pace.

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duals look in real life without the posing, the filters, the photoshopping and the professional hair and make-up,” Martz said.

Pan, the Renmin University researcher, also believes that pi

ctures shared frequently on social media impose peer pressure on women.

“If people around you look thin on WeChat Moments, you are inevi

tably anxious to fit the general profile of having the ‘right look’,” she said.

Articles have also gone viral in summer on WeChat Moments, with sensational headlines such as “Good-looking girls never

weigh more than 50 kilograms” or “If you don’t lose weight in May, you will cry out loud in June”.

Shen Zijiao, a psychological consultant at Beijing Normal University, said: “Women don’t know what kind of beauty is best for th

em; they just thumb through their phone screens and get the notions of ‘being slender’ consciously or uncons

ciously. They always worry if their bodies are inconsistent with the so-called perfect body shape.”

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Austrian pianist Rudolf Buchbinder, one of the best Beethoven interpreters of all time, will perform

all five Ludwig van Beethoven’s piano concertos during his upcoming China tour with the German orch

estra, Staatskapelle Dresden, which kicks off on May 15 at the Guangzhou Xinghai Concert Hall.

He will also perform with the German orchestra in Changsha, Hunan province, on May 18

and 19, and conclude the tour at the National Centre for the Performing Arts in Beijing on May 21 and 22.

“Beethoven was the most romantic of composers. The more I play Beethoven’s works, the more musical freedom I get,” says Buch

binder, in an email interview with China Daily before the China tour. He adds that he has performed the com

plete cycle of Beethoven’s piano concertos with Staatskapelle Dresden for many times all around the world.

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 will impact various industries and stimulate the emergence of many new products, services and industries.

China Daily’s app was named the “Highly Commended” news app of the year at the newsawards 2019 in London on Wednesday.

The result was announced at the gala dinner held at the Royal Lancaster London. Ch

ina Daily beat two other nominees – The Independent and the Belfast Telegraph – to win the honor.

The China Daily app offers “a powerful mix of technology and innovation, with great clarity on audience needs,” said the judges.

The automotive sector will most likely be one of the first industries to rely

on 5G, connecting vehicles to other vehicles, roadsides, traffic lights, buildings and the inter

net to process data across cars or in the cloud, according to the report.

As 5G technology has integrated various industries and technologies, the number of 5G Stand

ards-Essential Patents applications surged to more than 60,000 globally by the end of April, the report said.

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More than 2.5 million tourists visited West Lake in Zhejiang province over the May Day holiday.

What caught the attention of many of them was the presence of a team of eight intern

ational students, all wearing yellow vests and Bluetooth headsets, and riding electric scooters.

The eight were studying in Hangzhou, Zhejiang’s provincial capital. They are the first internatio

nal volunteer team serving at the famous spot, which was listed as a UNESCO World Heritage Site in 2011.

The foreign volunteers are from India, Mongolia, Banglade

sh, Indonesia, Democratic Republic of Congo, Ethiopia, Tanzania and Yemen.

“As Hangzhou is seeing an increasing number of individual travelers from abroad followin

g the 2016 G20 Summit … we have been considering how to diversify our volunteer forces during h

olidays and peak seasons for years,” said Liu Jian, director of the volunteer program.

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The 2018 laureates for theory are Juan Ignacio Cirac, David Deutsch, Peter Shor and Peter Zoller,

for their seminal theoretical work on quantum algorithms and physical architectures of quantum com

puters and simulators, while the experimental category prizes went to Rainer Blatt and David Wineland for pio

neering experiments that demonstrated fundamental elements of quantum computing with trapped ions.

The 2019 prizes were awarded to Charles Bennett, Gilles Brassard, Artur Ekert and Stephen Wiesner in the theory category for th

eir work on quantum cryptography, and experimental prizes went to Pan Jianwei and Anton Zeilinger for their grou

ndbreaking experiments that enabled practically secure and large-scale quantum communications.

The awards ceremony will be held on Sept 20, Luo said.

USTC has been leading the world’s quantum information science and techno

ogy development in recent years, with Pan’s team attracting enormous attention from home and abroad.

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sing funds for the sake of cost-cutting, Liu said, adding some staff made 80,000 yuan a

month in pilot areas for the new salary regime in southern China’s second and third-tier cities.

Earlier this year, rumors spread that China’s e-commerce giant would can

cel couriers’ basic salary and reduce welfare. The company confirmed the salary adjus

tment plan via its official Sina Weibo account on April 7, saying as the number of orders from individual clients incre

ases, the company is looking to adopt an incentive plan to reward outstanding employees.

JD will reduce its delivery staff members’ salaries by adopting a commis

sion-based payment scheme starting in June and low

er contributions to employees’ housing funds from 12 to 7 percent, Sina Finance reported.

An anonymous courier with JD Logistics said the task of getting more external delivery

orders under the new salary system would be hard to accomplish, and the new policy will reduce their salary, th

e report alleged, though the courier did not indicate an exact amount for the reduction.

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 Xi’an, the capital of Shaanxi province, during the break.

“The city is charming, with its long history and modern urban life, as well as its

diversified snacks and world-famous Terracotta Warriors,” she said on Sunday.

“The only annoyance was that there were too many people crowding every attraction, but it’s the holiday.”

Some travelers opted to go overseas, and many of them stretched the holiday into a six-day vacation.

The Lvmama report said that Thailand and Japan remained the tw

o top choices for Chinese mainland travelers during the Tomb Sweeping holiday, followed by Indones

ia, the Philippines, Hong Kong, Macao, Malaysia, France, Australia, the United States and the Maldives.

On Wednesday, Ctrip, another online travel agency in Shanghai,

estimated that Chinese travelers would make about 110 million visit

s during the holiday break to 790-plus domestic and overseas destinations in 88 countries and regions.

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ight examinations, and counselling services, he said.

Education departments will supervise schools to take concrete measures and eval

uate their performance, Minister of Education Chen Baosheng said at the meeting.

The State Council, China’s cabinet, said Wednesday it was necessary to amend laws and sup

porting regulations and policies to ensure the implementation of the foreign investment law.

Draft amendments for administrative licensing law, trademark law, construction law a

nd electronic signature law were passed Wednesday at a State Council executive meeting presided over by Premier Li Keqiang.

It was also decided at the meeting to submit the draft amendments to the Standing Committee of th

e National People’s Congress, China’s top legislature, for deliberation, according to a statement after the meeting.

Suggestions for revisions include adding the principle of “non-discrimination” in administrative licensi

ng, substantially raising the amount of compensation for infringing exclusive rights to use trade

marks, and cutting approval time for applications for qualified construction permits.

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