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Alibaba All-Nighter
   2014-11-11 10:56:27    CRIENGLISH.com      Web Editor: Shi

 

Beijing Times

Pension Losses

New stats from the Ministry of Social Security show the national social insurance fund has hit almost 4.8 trillion yuan, which is the equivilant of around 8-percent of China's GDP.

However, as most of the money is in the banking system, rather than on the markets, the overall value of the pension system has dropped by 1.3 trillion yuan over the last 20-years compared to the increase in salaries.

Beijing News

More Parking Lots

New stats from municipal transport authorities in Beijing show some 70-thousand new parking spaces have been created in the city during the third quarter.

Over 50 thousand of them are in residential areas.

This comes as traffic authorities move to try to eliminate street-side parking to improve traffic flows and reduce the number of traffic jams.

Information Times  

School Bus Security

Authorities in the southern city of Guangzhou have issued a plan to strengthen school bus security.

Under the new plan, 25 different government departments will be responsible in managing school buses.

Around 135-thousand students take school buses in the city every day.

Dahe Daily

Alibaba All-Nighter

Over 10-thousand staffers at the headquarters of Alibaba had to work overnight this morning to deal with the surge of transactions because of Single's Day.

The latest data shows it only took 38 minutes and 28 seconds for transaction volumes to reach 10 billion yuan.

Last year it took 5 hours and 49 minutes to hit that same figure.

GLOBAL TIMES

No GM Potatoes

McDonald's in China is denying reports its imported or used genetically engineered potatoes.

The statement has been made after the US Department of Agriculture approved a genetically modified potato developed by a McDonald's supplier.

The fast-food outlet says the potatoes it uses in China are in complete conformity to Chinese laws and regulations.

Beijing Youth Daily

Blogger Allegation

A blogger has put a post on a government mircoblog in the city of Zhangye in Gansu, accusing a municipal official of adultery.

The official in-question is the person in-charge of the microblog.

He has since responded to the allegation, threatening to sue the blogger.

Local authorities are investigating.

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