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MEDIA

Founder and CEO of Ku6 Media Resigns

Li Shanyou, founder and CEO of Ku6 Media - a subsidiary of SNDR Group – has resigned, according to Beijing News last Saturday. It's rumored that his resignation stemmed from having different opinion on how to run the online media company with that of Chen Tianqiao, board chairman of SNDR Group. Zhu Hai, CFO of SNDR Group, has been appointed as the stand in as the CEO of Ku6 Media.

The Beijing News | 2011-03-14

DRUGS

Adulterant Medicines of One Million Yuan Destroyed

The police and drugs supervision bureau of Jinzhou City of Hubei Province has on March 10 destroyed more than one million yuan worth of counterfeit drugs seized. The amount of counterfeit drugs seized only constitutes some 10% of the 201 counterfeit brands illegally produced and sold nationwide. 23 suspects have been prosecuted for the crime.

The Beijing News | 2011-03-14

INCOME

On Average, College Graduates Earn More than Migrant Workers

According Yin Weimin, the Minister of Human Resources and Social Securities, the average of monthly salary recent college graduates was between 2,000 and 2,200 yuan per month in 2010 while the average monthly salary of workers was only around 1,670 yuan. The statement was in response to a media reports that migrant workers earn more than college graduates.

China Securities Journal | 2011-03-11

EDUCATION

Gaokao to Open Its Doors to Migrant Children

The Ministry of Education is planning to remove barriers preventing the children of migrant workers from participating the College Entrance Examination (gaokao) in their city of residence,said Minister of Education Yuan Guiren during the fourth meeting of the 11th National People’s Congress. He added that the new policies will likely be issued soon.

The Beijing News | 2011-03-11

COMPANIES

Dangdang Reports Profits of 30 Million Yuan in 2010

Dangdang Net, China’s leading online shopping platform, has reported net profits of 30.8 million yuan last year, up 82% from the previous year, according to its annual report released on Wednesday. The report states that the online retail giant spent 21.20 million yuan on promotion in the last quarter of 2010, up 89% from 2009, because of the price war with competitor 360buy.

The Beijing News | 2011-03-11

LAW

Procurator-General Considers Decriminalizing “Antirevolutionary” Activity

Cao Jianming, member of NPC and Procurator-General of the People’s Supreme Procuratorate, recently proposed the decriminalization of “antirevolutionary” activity. He said the law is inconsistent with China’s Reform and Opening Up, and with the needs of modern society.

The Beijing News | 2011-03-11

SECURITY

Galaxy Securities Executive Sentenced to Death With 2-Year Reprieve

Wang Changlin, a former executive at Galaxy Securities - one of China's largest and oldest securities firms - was handed a death sentence with a two-year reprieve for embezzling over 11 million yuan between 2002 and 2004, by the Beijing No. 1 Intermediate People’s Court on Mar 8.

Beijing Youth Daily | 2011-03-10