Suspects held over illegal fundraising
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.