8 December 2021 US Congress punishes China's Human Rights Abuses

(Picture source: WBUR)

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The Hill: @SenTomCotton: "20 years after China entered the WTO, it's clear that China has betrayed our trust and is waging an economic war against us. We didn't seek out this conflict, but now that it's started, we have no choice but to finish it."

US Congress: Expressing the sense of the House of Representatives that the International Olympic Committee failed to adhere to its own human rights commitments

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Lude Media(GMT Morning): The three major themes of the Democracy Summit are "Fight against totalitarianism, combat corruption, and promote human rights protection." What do all the themes mean for the CCP? Australia announced that it will join the diplomatic boycott of the Beijing Winter Olympics.

Lude Media(GMT Afternoon): In response to Lude’s comment, the CCP’s press comment should not think that Xi Jinping can be hit with "face"; what signal is hidden in Biden Putin's 2-hour closed-door video conference? What is the code name of the Bayi hard drive owner in the United States?

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China Increasingly Obscures True State of Its Economy to Outsiders

Is Chunhua Hu eligible to be a state leader? 胡春华有资格成为中共国家领导人吗？

Before concluding whether Chunhua Hu(胡春华) is ineligible to be a state leader,it's recommended to let Chunhua Hu answer questions about some details during his tenure as Chair of Guangdong People's Congress.

（Picture source：voachinese）

1. What was the process of Chunhua Hu being elected as a People's Representatitve for chairing Guangdong People's Congress? When were blank votes issued? Any verification of ID of voter before casting a vote? How was the monitoring of voting? Any video recording of voting?

2. Is Chunzhou Hu(胡春舟) a related party to Chunhua Hu? Did Chunhua Hu avoid conflict of interest on recruiting Chunzhou Hu as a worker who received money from the office of Guangdong People's Congress (GPC)?

3.Why did GPC fail to transfer the East Building of GPC valued at least CNY133 million from construction in progress to fixed assets in time after completing construction work of the East Building?

4. Why did GPC fail to obtain invoice before paying CNY201 thousand to experts in July 2017? Why did GPC accept illegal invoices before paying money?

5. Why didn't GPC pay contract consideration pursuant to requirement of the contracts?

6. Why did Chunhua Hu suppress the people in Wukan in Guangdong defending democracy in the village?

7. Doesn't the construction management of Shenzhen-Maoming High-speed Rail Project really have issues of forced demolition, environment destroying, bidding distortion and substandard project work or substandard project materials? Did Chunhua Hu still think that issues of Shenzhen-Maoming High-speed Rail Project could be covered up?

In order to cover up the corruption of the project and avoid being detected by the National Auditors' Office of the Xi Central Committee, he firstly found intermediaries for audit and then tried to cover it up. The audit fee for the intermediary is said to be the same included in the expenditure for the project cost. He did not intend to improve the internal control over project, but made a fuss from the surface of the documents and specifically asked the intermediary to list the numbers of problem contract, accounting entries, and work accept order.

8. Shouldn't Hunhua Hu be irresponsible to the widespread financial fraud in Guang Dong's state-owned entities? A state-owned enterprise affiliated to Guangdong Province government paid tens of thousands of yuan in advance to a certain supplier, and the supplier shipped the goods to a customer of the state-owned enterprise that has an associated relationship with the supplier. The advance payment is not transferred to profit or loss and no account receivable is recognized.

The managers of a subsidiary of a state-owned enterprise of Guangdong government lived in a rented house provided by the company on Zhongshan 1st Road and Miaoqianzhi Street. The management did not disclose the related party transaction in the financial statements. It is also possible that the related party transaction has not been declared in the company's annual related business transaction report made to tax authority.

The 2015 and 2016 financial statements of Guangdong Guangsheng Asset Management Co., Ltd., a state-owned enterprise by Guangdong Province government, concealed key management personnel remuneration related transactions, and concealed the bond issuance the event after reporting period in 2015. In 2016, it concealed the post-term event of the chairman's change and deceived the users of financial statements.

7 December 2021 Both Chinese vaccines and Chinese sanctions against Lithuania are ineffective

(Picture source: Taiwan News)

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4/12/2021 闫博士全美巡讲第7站印第安纳波利斯震撼演讲，中文字幕！

CRRC unable to satisfy debt interest payment with net negative operating cash flow made material misstatements in 2020 financial statements

On 6 Dec 2021 CRRC Corporation Limited(中国中车股份有限公司, CRRC), an enterprise controlled by the State Council of the People's Republic of China (CCP regime) under the CCP's leadership, published its 2021 3Q financial statements according to which operating cashflow both in 2021 and 2020, net negative, was unable to be used to pay debt interest and dividend. CCP regime and its associates are related parties to CRRC.

The interest was incurred on the loans mainly from state-owned banks. As of 31 December 2020, among other things, it obtained credit facility respectively from China Development Bank, Bank of China, China Exim Bank and China Construction Bank for 25 billion, 18.25 billion, 13.4 billion and 13 billion, all of which share the same control of CCP regime as CRRC.

But CRRC failed to disclose the credit facility transactions as with related parties and corresponding pricing policies.

In 2020, CRRC had acquired land use rights accounted for as intangible assets and failed to account for land use rights as right of use assets. In China, state-owned entities often acquired land use rights at low price from CCP regime. But CRRC failed to disclose land use acquisition transaction as related party transactions and corresponding pricing policies. According to land use tax regulation of China, CRRC used at least 8.8 million square meters land.

China State Railway Group Co., Ltd, a state-owned enterprise, is the major customer of CRRC but failed to be disclosed as a related party and corresponding information of related party transactions failed to be disclosed.