Shanghai prosecutors have charged former property tycoon Zhou Zhengyi with misappropriation of funds, bribery and forging value-added tax receipts, said a government source.
Results tagged “property”
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Property agents in Shanghai have come up with a novel way of giving house buyers important information about the home they intend to buy. Ask them about neighbourhood construction plans for malls, motorways and high rise appartments and they may take you to the third floor of the Urban Planning Museum in People's Square. There lies the model of the grand plan of the city centre for Expo 2010.
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As the convential wisdom goes, China will not respect other's intellectual property rights (IPR) until its own IPR needs protection. If this is true, then IPR in China recently took a significant step forward as the Financial Times is reporting that a litigious Shenzhen USB flash drive manufacturer Netac has hired Morgan Lewis & Bockius to sue New Jersey computer hardware manufacturer PNY Technologies for infringing upon Netac's patent for USB flash memory drives, or key drives (that's US Patent #6,829,672 for you IP boffins out there).
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Shanghaiist is no law expert, but we just learned that there are no extradition agreements between China and Hong Kong. Back in 2003, the property tycoon (and then richest man in Shanghai at $320 million USD) Zhou Zhengyi was arrested in Shanghai for falsely reporting the holdings of his company as well as manipulating stock prices, and got slammed with a three year sentence. Here's basically what happened:
Photo of Glen Frey, whose song "Smuggler's Blues" was a hit in the mid-80s, from eaglesfans.com.

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