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Car Licence Auctions, Social Financing & a Dumb Hong Konger

Numbers making the news on Monday, March 19:

58,625 yuan
The average bid for one of the 8,000 new license plates auctioned this month in Shanghai. China’s biggest city uses such sales to restrict the number of cars on its roads.
People’s Daily

13 years 
The prison sentence handed to Shi Baikui, the man who last year stole jewlery boxes and bags from the Forbidden City. 

154,000 prisoners
The South Korean government’s estimate of the number held in labor camps in its neigbor north of the 38th parallel.
The Guardian

Year-on-year change in February home prices for China’s 70 major cities.

1.04 trillion yuan
Raised during February by “entities in the real economy,” an increase of 60% on last year. The measure, described as “social financing”, includes loans of local and foreign currencies, entrusted loans, trust loans, bank acceptance bills, corporate bonds and equity financing.

Quotes making the news:

“China has reached a crucial period in changing its economic model and (change) cannot be delayed. Reforms have entered a tough stage"
Vice Premier Li Keqiang

“I would not want to waste time to teach you because it’s too complicated a subject for you.”
Henry Tang, formerly Beijing’s favored candidate to be selected as Hong Kong’s Chief Executive, shows his low opinion of rival Chun-ying Leung in a live televised debate.
The Wall Street Journal

"If they don't handle it right, and in a way the public can accept, then it's a really big problem. It could have a domino effect."
Cheng Li, Chinese politics expert at the Brookings Institution, commenting on the aftermath of Bo Xilai’s dismissal.
The Wall Street Journal


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