China's two former defense ministers, Wei Fenghe and Li Shangfu, were sentenced to death with a reprieve in first-instance trials. A military newspaper published an article emphasizing the determination to fight corruption, and outside analysts believe this may be paving the way for the trial of Zhang Youxia.
Thousands of villagers protested at Maojiawan in Zhaotong, Yunnan, the second-largest poverty alleviation relocation resettlement site in China. The conflict was triggered by a monthly parking fee of 360 yuan, leading to clashes after SWAT police arrived to suppress the demonstration.
China's National Financial Regulatory Administration recently issued verbal guidance suggesting that several major domestic banks suspend issuing new RMB loans to five refineries sanctioned by the U.S. for involvement in Iranian oil transactions.
Chongqing Public Security Bureau Director Zhang Anjiang was officially reported to have died of sudden illness, aged 55, leaving the director position vacant for more than two months.
Futu fell 13.76% in a single day, wiping out $3 billion in market value; Tiger dropped 7.2%; Barclays took the opportunity to cut its price target on Futu, sending a weakness signal, and shorts completed strategic short-position building.
A Mr. Fan in Jilin discovered that 88 liters of gasoline had been pumped into his 75-liter fuel tank at a PetroChina gas station. Gas station staff subsequently visited his home and attempted to settle the matter privately with 10,000 yuan in cash, which was refused.
Official Chinese reports state that during the May Day holiday, domestic travel reached 325 million trips, a year-on-year increase of 3.6%; total domestic travel expenditure was 185.4 billion yuan, a year-on-year increase of 2.9%. According to the program, the per capita expenditure was approximately 570.7 yuan, which is lower than the same period last year.
A worker in Jieyang, Guangdong Province, wearing a cleanroom suit, shouted on the street at cars waiting for a red light the slogan "Good, very good, excellent" — used in daily management at electronics factories as an obedience test — as a piece of performance art satirizing factory management methods.