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According to a news release from the local fire department, the battery of an electric bicycle parked beside a building for s
tudents ignited, starting the fire. The incident is still being investigated and some people have been detained.
This is not the first fatal fire caused by an electric bicycle. In December 2017, five people were killed and nine injured when an electric bike started a fire in Beijing, and
in July last year, one person was killed and another injured in Wuxi, Jiangsu province. In fact, type “electric bicy
cle” and “fire” into any online searching engine and you will get hundreds of pages recording them.
How could that happen?
me. There are already 300 million electric bicycles in China, roughly one for every four persons.
However, when it comes to charging the bikes, a big proble
m has emerged. As a growing number of people live in residential buildings without separa
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.