On July 1, 2015, the Chinese Communist Party (CCP) marked its 94th anniversary with celebrations extolling the “glorious history” of the Party. People in a dyeing and weaving factory in Xiangtan City, Hunan Province chose a different approach. All 1,000 Party members in the factory renounced their membership in the CCP together.
Caixin: Tumble in Share Price Puts Well-Connected Tycoon in Spotlight
Several sources said the inquiry into Che was triggered by an investigation into Ma Jian, a former vice minister of state security, and Guo Wengui, a property tycoon who controls Beijing Pangu Investment Co. and was a stakeholder in Digital Domain. The Communist Party’s graft buster detained Ma in January. Guo is overseas.
The predecessor of Digital Domain was Sun Innovation Holdings, Ltd. Documents from the Hong Kong stock exchange show that, in September 2012, Guo purchased 8.6 percent of the company for HK$ 0.083 per share from Che’s brother, Che Tao. Guo sold all his stock on January 16 at HK$ 0.18 per share, making a profit of about HK$ 80 million.
People with knowledge of the situation said Guo and Che remain close. Che once loaned 600 million yuan to Guo to help him get through a tough period and this cemented their relationship.
Source: Caixin Online, June 29, 2015; Apple Daily, June 5, 2015
http://english.caixin.com/2015-06-29/100823510.html
http://hk.apple.nextmedia.com/international/art/20150605/19172998
Economic Downturn Will Impact 2015 Fiscal Revenue
China’s Finance Minister Lou Jiwei predicted that, in the next few months, the State will face considerable pressure to meet its 2015 revenue target. He made these remarks when speaking to the People’s Congress on June 28, 2015. "In the next several months, due to factors such as the pressure of the economic downturn, we expect to face considerable pressure to meet the central government’s fiscal revenue target."
Dongxiang Magazine: Zeng Qinghong’s Two Trusted Subordinates in the National Security System Sacked
Wenxuecity.com, a popular Chinese media website, republished a report (originally from Dongxiang, a Hong Kong news magazine) that suggested Zeng Qinghong might be in trouble.
Xinhua: Chinese Communist Party’s Grass-roots Organizations Continue to Expand
RFA: A Thousand Workers Renounce Their Membership in the CCP
There has long been a problem since the government stopped providing retirement benefits to the factory’s retirees. Employees of the factory appealed many times and even confronted the government many times. Each time they were suppressed. When the people became completely desperate, all Party members at the factory decided to renounce their membership in the Party.
Sources:
Radio Free Asia, June 29, 2015
http://www.rfa.org/mandarin/Xinwen/5-06292015111801.html
Human Rights Defenders, June 29, 2015
http://wqw2010.blogspot.com/2015/06/blog-post_375.html