An inferno that destroyed the spire and a large portion of the wooden roof structure of the 12th-century Notre Dame Cathedral in Pa
ris on Monday reinforced a cautionary message to Chinese authorities about the need to better protect vulnerable heritage sites.
The National Cultural Heritage Administration held a staff meeting on Tuesday night at wh
ich officials discussed the Paris fire and six major fires that have taken place at Chinese cultural heritage sites this year.
“The fire at Notre Dame in Paris rang the warning bell for us,” Song Xi
nchao, deputy director of the administration, said in an interview on Tuesday.
“The safety of cultural heritage sites is a red line that can never be crossed. It’s a global issue,” he said.
The six fires were in Sichuan, Fujian, Jiangxi, and Zhejiang provinces, officials said.
On Jan 6, a hall at Yunyan Temple in Jiangyou, Sichuan province, burned down. On
Feb 2, a wooden family temple from the Qing Dynasty (1644-1911) in Nanchang, Jiangxi, was destroyed by fire.
ltancy, said: “The lawsuit against Liu will bring damages to the image and reputation of JD, hav
e an impact on investors’ confidence, and cause fluctuations in its share price. Moreover, emp
loyees’ trust in the company may also be affected as the Beijing-based tech heavyweight is laying off staff to cut costs.”
Shen Meng, director of boutique investment bank Chanson & Co, said Liu’s case won’t chan
ge his actual control over JD, which is now making some innovations to reassure investors. Liu owns
15.8 percent of JD’s stock and controls nearly 80 percent of the company’s voting rights.
Liu was detained in Minneapolis, Minnesota, on suspicion of criminal sexual c
onduct on Aug 31 and later released without charge or bail. He returned to China on Sept 3.
In December, Hennepin County Attorney’s Office, the prosecutorial office handling the case announced that no sexual as
sault charges would be brought against Liu as prosecutors could not prove his guilt beyond reasonable doubt.
Under a pilot scheme, the first group of six provinces and cities sold 6.8 billion yuan in bonds
at commercial bank counters to individual buyers between March 22 and early April.
The coupon rates are between 3.01 percent and 3.33 percent, higher than treasury b
onds issued by the central government as well as bank deposits with the same maturity.
Gross local bond issuances hit 1.18 trillion yuan in the first qua
rter, compared with only 219.5 billion yuan in the same period last year.
The total quota for 2019 local government bond issuances is 3.08 trillion yuan, according to the Ministry of Finance.
“About 60 percent of the bonds were issued for ongoing construction, especially
for shantytown renovation projects, railways and roads,” said Hao Lei, head of the ministry’s Budget Department.
While debt financing continues to grow, the government is experiencing sharp declin
es in fiscal revenue growth, especially from tax and land sales, official data showed.