One-line news
June 19, 2017 Category One-line news, Weekly
- Panama has switched official recognition from Taipei to Beijing. Panama’s decision leaves Taiwan with only 20 countries with whom its has diplomatic relations. Haiti and the Dominican Republic, which have set up trade representative offices in China, might be next, according to Xu Shicheng, Research Fellow in Latin American studies at the Chinese Academy of Social Sciences (CASS).
- A group of Chinese companies launched a lawsuit against fugitive tycoon Guo Wengui in the U.S. in a bid to obtain compensation for assets they weren’t able to recover following a legal victory in China. Represented by New York-area law firm Kevin Kerveng Tung, nine plaintiffs filed a complaint in New York against Guo and four of his companies. The plaintiffs are seeking more than USD40 million in direct damages and USD10 million in punitive damages.
- Yangpu plans to build a museum along the Huangpu river showcasing China’s industrial history dating back over a century. The district is surveying all of its historic buildings along the river to preserve valuable structures as well as to collect exhibits for the Shanghai Industry Museum. Yangpu’s riverside area was once home to several of China’s earliest industries – many of them dating back over 100 years.
- The first new ID cards for foreign permanent residents were issued across the country on June 16 to expats holding “green cards”. The machine-readable Foreign Permanent Resident ID Card can be used independently as legal proof of identity when dealing with such issues as finance, education, health, communication, accommodations, telecommunication, employment, taxes, social security, property registration and lawsuits in China.
- Dadi Cinema Group, China’s second-largest cinema investment and management company, plans to build as many as 60 new cinemas this year, focusing on lower-tier cities where people have more spare time to make the trip to a cinema. The group, trailing only Wanda Cinema in China in size, will also actively seek acquisition targets to increase the number of screens it owns following the purchase of Golden Harvest’s China cinema arm early this year, according to Dadi Chief Executive Yu Xin. At present, Dadi owns more than 400 cinemas and about 2,500 screens.
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