China Weekly News From August 26, 2018-September 2, 2018

1. On the evening of the August 27, 2018,  a drunken BMW driver and a bicycle man had a dispute over a traffic accident. The BMW driver got off the car and punched the bicycle man. Then he returned to the car and took out the hacking knife and waved it to the bicycle man. They fought for a few minutes. After that, the knife accidentally fell to the ground from BMW driver’s hands because it was not stabilized. At this time, the bicycle man was no longer able to eat humble pie and let himself be bullied. The bicycle man immediately picked up the knives and waved to BMW driver. BMW driver was slashed and killed.

On September 1, Kunshan police issued a notice on this case, claiming that the behavior of the bicycle man was a legitimate defense and was not criminally responsible. The public security organ revoked this case according to law. This case caused a heated discussion on the Internet. In the previous trial of similar cases, the defenders were sentenced to fixed-term imprisonment for legitimate cases of death no matter it’s legitimate defense or not. The trial of the acquittal of this case is a sign of the gradual improvement of Chinese law.

2. In May 2017, when the shared bicycle was still hot, Shanghai Phoenix (600679.SH) announced that it had reached a strategic cooperation agreement with its subsidiary, Phoenix Bicycle and ofo. According to the agreement, the supply of Phoenix bicycles to ofo may reach 5 million, which is expected to bring a lot of profit to the company.
However, the Shanghai Phoenix has brought the ofo to court because ofo couldn’t settle the account on time. More and more shared bicycle platforms have closed down, and people are paying more and more attention to China’s shared economy. The Mobike is still the biggest shared bicycle platform in China.

3. Alibaba’s employees died of leukemia because of rented houses provided by the “Ziru” platform, which is owned by Lianjia. Lianjia is one of China’s Housing Intermediary Agencies. The inspection agency tested the rental house and found that the formaldehyde was seriously exceeded. In the case of Chinese real estate and the stock market have stagnated, investors have begun to look at the housing rental market. The Housing Intermediary Association signed a long-term house lease contract with the landlord, and after the simple renovation and renovation of the rental house, the house rent was soared by the Housing Intermediary Association. In order to benefit, most houses are decorated with inferior materials and are rented out immediately after renovation. China’s housing price problem has not been effectively improved. Ordinary people still face the difficulty of not being able to afford a house.

4. The new China’s personal income tax law will come into force on January 1, 2019. At the same time, from October 1, 2018, to December 31, 2018, the basic deduction of wages and salaries will be raised to 5,000 yuan per month, and the new comprehensive income tax rate will be applied. After the new tax law is enacted, the enterprise will have to pay for employee’s social assurance according to the actual income of the employees, which will increase the corporate tax burden and will also result in the salary of the employees not being improved.

Thank you for your reading! Leave me comments and let me know what kind of article you would like to read.

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