Focus of the Day: Fujian Shoe Factory Raises 400 Million Yuan, Owner Goes Missing, Villagers Lose Investments; Huawei Bribery Scandal Expands, List of European Involved Lawmakers Revealed; Kim Jong Un Attends Ship Launching Ceremony, Warship Capsizes.
A large shoe factory in Fujian with nearly 30 years of history has been raising funds from local villagers for many years. However, recently, the factory owner went missing, causing panic among the villagers. Recently, hundreds of villagers went to the company and government to demand their deposits back but received no response. It is reported that the amount involved is as high as 400 million yuan!
The company named Xinda Shoe Industry Co., Ltd., established in 1999 with a registered capital of 22.99 million yuan, is located in Xitian Village, Hushi Town, Xiuyu District, Putian City.
Due to the impact of the US-China trade war, mainland export enterprises, especially those exporting to the US, have fallen into difficulties, with many companies shutting down. Xinda Shoe Industry was not spared from this situation.
A villager using the pseudonym Wang Hao stated that currently, Xinda Shoe Industry still has workers on duty, but information obtained from the employees indicates that the factory’s orders can only sustain for a few days. The crucial point is that the owner’s family is currently missing. The company is deserted, and no one is residing at their home. It is said that the owner’s family has fled abroad, but as of now, officials have not confirmed this news.
The disappearance of the owner’s family of Xinda Shoe Industry has caused shock due to the massive amount of funds raised, estimated to be at least 400 million yuan.
Reportedly, the owner of Xinda Shoe Industry, Tang Qingyuan, has been “raising funds” from the surrounding villagers for a long time. The company opens for three days each month, allowing villagers to deposit money with dedicated personnel, then villagers receive a formal loan agreement, a process very similar to a bank. Due to the company offering higher interest rates than banks, it was favored by many villagers.
Wang Hao mentioned that 80% of the villagers in their village have deposited all their savings in Xinda Shoe Industry, ranging from tens of thousands to millions, or even tens of millions of yuan. He himself deposited 1.1 million yuan in Xinda Shoe Industry. The reason behind this was that Xinda Shoe Industry has been established for nearly thirty years and has a solid local reputation. It is a large enterprise, offers high interest, and the owner is a villager well known by everyone, which led to a high level of trust. However, no one expected that such a familiar person would suddenly disappear!
Upon hearing the news of the owner’s disappearance, villagers were in a panic. For several consecutive days, hundreds of villagers gathered at the company’s entrance, and they also approached the district government, but to no avail.
Many villagers expressed their distress, stating that this money was their hard-earned income, some from labor, some from the elderly’s retirement funds, all of which have now turned to nothing.
Currently, villagers have jointly initiated a petition, urging the government to investigate the case for suspicion of “fraudulent fundraising” and requesting emergency measures to freeze the assets to protect the basic rights of the villagers.
It is essential to remind everyone here that apart from illegal fundraising, news of legal financial products also frequently explodes. Currently, with the economic turbulence on the mainland, it is crucial for everyone to protect their assets.
As of now, there is no exact information from the authorities about whether the owner has left the mainland. We will continue to monitor the developments. Next, let’s delve into the Huawei bribery case in Europe.
The bribery scandal shaking the European political arena continues to unfold. Recently, the identities of five current European Parliament members allegedly involved in the Huawei lobbying case were revealed. Recently, the Belgian federal prosecutor has formally requested the European Parliament to lift the judicial immunity of these members to conduct a thorough investigation.
On Wednesday (May 21), European Parliament President Roberta Metsola personally disclosed the list of involved lawmakers in Brussels, which includes three Italian members of the European People’s Party (EPP), Fulvio Martusciello, Giusi Princi, Salvatore de Meo, as well as Maltese member Daniel Attard and Bulgarian member Nikola Minchev.
According to the prosecutor’s allegations, to garner support from the lawmakers for policies favorable to Huawei in the parliament, Huawei used large sums of money, luxurious trips, and various perks like football match tickets to influence these individuals. The lawmakers listed are suspected of accepting bribes from Huawei.
It was reported that two months ago, the prosecutor began investigating this case. In March of this year, Belgian police conducted raids at various locations in Brussels, France, and Portugal, including the European Parliament offices.
The prosecutor pointed out that since 2021, Huawei has been bribing multiple officials under the guise of “business lobbying.” Currently, eight individuals, including a senior Huawei executive in Europe, have been charged, with allegations including money laundering, participation in organized crime, and corruption.
The lawmakers involved in the case have all denied ever accepting bribes or engaging in any illicit activities.
De Meo, Attard, and Minchev confirmed receiving notifications from the Belgian prosecutor.
De Meo stated that he only attended a social event where a Huawei representative was present, but it wasn’t an event organized by Huawei.
Attard released a statement on Facebook admitting that he watched a game in Brussels in September last year and was offered access to Huawei’s VIP box. However, he claimed he did not know at the time that the tickets were provided by Huawei and that he was invited by another individual under investigation.
Minchev was also investigated regarding attending the same game and accessing Huawei’s box. He mentioned that he was invited by his assistant’s neighbor. His assistant was also under investigation, and the police searched his office in March.
Martusciello acknowledged that he had brief contact with Huawei lobbyists but didn’t visit Huawei’s office or receive any benefits. However, in 2021, he signed an open letter criticizing European countries’ policies towards Chinese companies, which was seen by the public as evidence of his support for Huawei.
Princi also denied the prosecutor’s allegations. She stated that during the time she was accused of meeting with Huawei personnel, she was attending her daughter’s school event in Italy. And she had not yet assumed her position as a European Parliament member at that time.
Allegedly, the focus of the Belgian investigation includes determining whether rewards were received due to political stances, excessive gift-giving, expense reimbursements, and invitations to various events.
As the scandal expands, actions from the European Parliament and European Commission are accelerating. Currently, the access permits of the implicated individuals have been revoked. Additionally, qualifications of their staff are being reviewed on a case-by-case basis.
Throughout the process, the European Parliament has reiterated its “zero tolerance” stance towards corruption and fraud.
Currently, the European Parliament’s Legal Affairs Committee is reviewing the Belgian prosecutor’s request to lift judicial immunity, and a report will be submitted for a vote by all members, with a decision expected at the plenary meeting on June 4 to 5.
Huawei has denied the allegations, stating that the company complies with the law and does not engage in corrupt or other illegal activities.
Many people are skeptical about Huawei’s defense. Some netizens pointed out that accepting bribes is a tradition of the Chinese Communist Party, isn’t it?
As the unprecedented bribery storm unfolds, we will continue to monitor how it develops. Next, let’s turn our attention to North Korea.
According to North Korean state media, on May 22, North Korean leader Kim Jong Un attended a warship launching ceremony, but a significant accident occurred with the new 5,000-ton class destroyer showcased, resulting in the warship’s bottom cracking and capsizing on the spot.
The destroyer, manufactured by the Chingjing Shipyard, experienced operational mistakes and mismanagement during the launching operation, leading to the tail’s premature detachment, causing multiple holes in the ship’s bottom, loss of balance, and failure to smoothly enter the water, ultimately resulting in the grounding.
Regarding this accident, the South Korean military stated that the entire warship leans on the water surface, and the capsizing situation was very apparent.
Moreover, the North Korean authorities did not clarify whether the accident resulted in casualties.
The US think tank “Latitude 38” estimated that this warship used a launching method called “sideways launching” that North Korea has never tried before. Although this method is swift, the technical difficulty is high, especially when lacking shipbuilding experience, posing significant risks.
The think tank believes that the shipyard lacked a ramp to push the stern into the water first, leading to the accident.
Moon Keun-sik, a naval expert at the Hanyang University in South Korea, pointed out that this accident might be due to shipyard workers being unfamiliar with operating large warships and hastily rushing the launching process, resulting in the tragedy.
Most notably, the person enraged by this incident is undoubtedly Kim Jong Un himself. He harshly criticized the accident as negligence and irresponsibility leading to a “significant accident and criminal activity,” stating that this incident involves political issues related to national authority and ordered the repair of the ship body to be completed by June.
Externally, it is widely believed that the troublesome destroyer should be of the same class as the “Choe Hyeon Ho” launched on April 25. According to Kim Jong Un, the “Choe Hyeon Ho” will assist in expanding North Korea’s military operations and enhancing nuclear strike capabilities.
The Associated Press reported that South Korean officials and experts estimate that North Korea’s first destroyer, “Choe Hyeon Ho,” may have been built with assistance from Russia.
If this is true, it indicates deepening military cooperation between Russia and North Korea.
Although North Korea’s overall naval strength is far below South Korea’s, such large warships will enhance North Korea’s offensive and defensive capabilities, posing potential threats to neighboring countries’ security.
Cheong Seong Chang, Director of the North Korea Research Center at the Sejong Institute in Seoul, believes that North Korea’s public disclosure of this accident information indicates Kim Jong Un’s tendency to proactively reveal negative news to control internal officials and prevent the spread of rumors.