the new york times: jia yueting fall is a warning to china's science and technology industry

fang said in a news release, jia yueting as laolai list first on the new york times, the people all over the world know.he should learn trump called the new york times is a"false news".

attached to the new york times, the chinese version of the full text:

hong kong-in the peak period, jia yueting is china's technology industry is the most eye-catching crazy, one of the most dazzling.he move into smartphones, electric cars and sports broadcasting and other industries, has vowed to challenge apple(apple), and tesla(tesla), and other giants.

now, another area in china, the official release on the net the faithless people blacklist, jia yueting became one of the most famous one.on this list means he could be banned from flying and high iron, can't even buy big-ticket items.

by china's supreme court to maintain the public database of retrieval, and is the official to publicly name and shame, etc way, constantly intensify efforts to control the action part of irresponsible lending.

this week, because owe ping an securities brokerage company a total of$72 million(including interest and fees, or about 480 million yuan) outstanding debt, jia yueting was listed in the blacklist.after letv jia yueting control system, the two companies have been due to small amount of outstanding debt and blacklisted.last year, letv driven by debt aggressive expansion began to run aground, angry creditors sat in their offices located in beijing, and prompted the court action.

could not be letv and jia yueting representatives immediately available for comment.

as china's economy matures, the official to local government, large state-owned enterprises and jia yueting such ambitious tycoon accumulated debt concern.

the public pressure is prompted borrowers pay part of the loan policy.chinese officials ordered the provincial government set up the network platform, the debt exposure defaulters.a beijing court recently asked an internet security company for the phone number of the irresponsible borrowers.so, when someone dial the relevant number, mobile phone, a message will appear on the screen, what they owe money.

china's regulators have stepped up scrutiny of some enterprise group.these firms to make use of cheap loans, funding expensive overseas acquisitions.the pressure from the government has stopped trading"grey rhino"companies in china."grey rhino"is one of the official communist party newspaper, refers to enterprises become big, visible problem, has been overlooked before become a threat.

the database established by the supreme people's court in 2013, contains the prosecution and the name of the losing credibility personnel.in june, the supreme people's court announced that it had school promise more than 7 million people.the people on the list has been barred from buying tickets and high-speed rail tickets, and unable to apply for bank loans and credit cards.

according to the supreme people's court, the database is designed to help develop china's social credit system.this is a project of the government, aimed at eventually according to consumption habits and loan repayment condition and public good character to every citizen.

jia yueting fall, for china's rapid development of science and technology industry, is a cautionary tales.science and technology industry in china, the enterprise may be in the same dazzling speed rise and decline.this summer, in a shanghai court froze and his assets of about$182 million(1.2 billion yuan), jia yueting resigned as regards its listed companies enjoyed all networks.

the supreme people's court, according to the site in november, a beijing court has banned jia yueting high consumption.

the court order quoted chinese law, says jia yueting cannot be"high"or"the life and work must"consumption.limited law further, according to consumer researchers will have to take the plane or the train first class, in high-end hotel or golf course to consume, buy or new luxury housing, necessary vehicle purchasing management, tourism, vacation, or paying for their children attend private schools.

beijing's partner at law firm hu wenyou says, in making defaulters narrowly on the debt, the supreme people's court of the database in general are effective, but only if they are in china.an interview with a chinese news website, recently jia yueting claims are california, focusing on faraday in the future.this is a financial difficulties of the electric car start-up company, jia yueting is its biggest shareholder.

"if a person at home, then are monitored,"hu wenyou said."what did you buy tickets through the customs is to use id passport, go out."

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