Sus­pects held over il­le­gal fundrais­ing

China Daily (Hong Kong) - - CHINA -

Thirty-two sus­pects from Huay­ingkailai Co, the com­pany that de­vel­oped the Tran­sit El­e­vated Bus, or TEB, are be­ing held un­der crim­i­nal de­ten­tion in Bei­jing over ac­cu­sa­tions of con­duct­ing il­le­gal fi­nan­cial schemes, the Dongcheng district po­lice said on Sun­day. The po­lice said it had re­ceived re­ports that the com­pany has taken part in il­le­gal fundrais­ing ac­tiv­i­ties, adding that they will con­duct thor­ough in­ves­ti­ga­tions to pro­tect in­vestors’ rights and re­cover as­sets. An ear­lier re­port said the com­pany was ac­cused of de­fraud­ing peo­ple in the process of pro­mot­ing the TEB. The bus made its de­but test run in Au­gust, but the project was of­fi­cially scrapped last month. bul­let train from Bei­jing to Xion­gan New Area start­ing this week, ac­cord­ing to China Rail­way Corp. Two bul­let trains will travel the route on July 6, with the trip from Bei­jing South Sta­tion to Baod­ing Sta­tion in He­bei prov­ince tak­ing about 80 min­utes. Tick­ets for the bul­let trains were made avail­able from Sun­day morn­ing. port peak be­gan on Satur­day, with a record-high num­ber of trips ex­pected to be made by train this year. The pe­riod runs from July 1 to Aug 31, when stu­dents on sum­mer va­ca­tion have time to travel or re­turn home. A to­tal of 598 mil­lion trips are ex­pected to be made by train dur­ing the 62-day pe­riod, ris­ing by 49.7 mil­lion year-on-year, ac­cord­ing to China Rail­way Corp.

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