During the 1997 Asian financial crisis, Wang Qishan was transferred to address issues related to the financial system, and thereafter served in the financial system.
Dixon and Coles proposed a correction method incorporating a correlation parameter ρ and time decay to reduce the systematic bias of the Poisson model toward draws and low-scoring results.
In the early stage of China's real estate industry, the term of personal housing mortgage loans was stipulated to be no longer than 20 years at most.
Eluming's enterprise is said to have gone public in the late 1990s, subsequently expanding into a large group through financing and investment.
The state-owned sector's push for "grasping the large and letting go of the small" and the buyout of employees' seniority led to about 40 million workers in state-owned and collective enterprises losing their jobs; the breakdown of the social contract triggered serious social and economic problems.
According to official Chinese statistics at the time, the number of internet users nationwide reached 620,000 in 1997, and computers with direct internet access reached 300,000 units, far exceeding official expectations.
Li Wei registered her residence in Huilai, Guangdong, and obtained a Shenzhen ID card on December 25. Related reports alleged that Zheng Shaodong, director of the Criminal Investigation Department of the Guangdong Provincial Public Security Department, was involved in handling the case.
According to foreign media reports from around September 1996, China blocked about 100 overseas websites in one fell swoop, including overseas news websites and anti-communist websites. This is the earliest verifiable record of internet censorship.
The Film Bureau issued an urgent document stating that the script took delight in improper relationships. Beijing Film Studio head Han Sanping announced the suspension of the film, resulting in huge economic losses.
On the night of March 31, 1996, Phoenix Television officially launched in Hung Hom, Hong Kong, unveiling its golden station logo. Its early shareholders included Today's Asia controlled by Liu Changle, Satellite Television under Rupert Murdoch, and Huaying International representing CCTV. Before the launch, Liu Changle reported the station's stance to Beijing, establishing Phoenix's special political affiliation and licensing mechanism.
Premier Li Peng signed the interim regulations, which explicitly stipulated that China's connection to the international internet must go through official channels, laying the foundation for the Great Firewall.
Zhou Beifang, suspected of illegally mobilizing massive funds from Shougang to help Deng Zhifang pay off gambling debts, was sentenced by the court to death with a reprieve, while Deng Zhifang escaped legal prosecution and safely retreated behind the scenes.
Hsu Chia-ching said that she was blacklisted by the CCP in 1996, after which she could not travel to mainland China, Hong Kong, and Macau, but could still visit democratic countries such as Japan and the United States.
China continues to carry out severe crackdown operations.
Before Huayuan's listing in Hong Kong, an anonymous letter reported Ren Zhiqiang as having a criminal record based on his past experiences; Ren Zhiqiang subsequently obtained a certificate stating that he had been acquitted.
During the 1996 Taiwan Strait crisis, cross-strait relations and U.S.-China relations faced heightened tensions.
Teresa Teng passed away on the way to the hospital in Chiang Mai, Thailand, due to an asthma attack, at the age of 42. Her family refused an autopsy.
With the suicide of Beijing Vice Mayor Wang Baosen and Chen Xitong's resignation taking responsibility, he was subsequently removed from office and sentenced to 16 years in prison for embezzlement and dereliction of duty.
On April 5, 1995, Jin Xing underwent gender reassignment surgery at Beijing Xiangshan Hospital, becoming the first person in mainland China whose transgender identity was officially recognized.
Illegal short selling and a bull-bear battle broke out in the treasury bond futures market; Wanguo Securities was hit and forced into liquidation; the exchange subsequently declared the last eight minutes of trading void, and treasury bond futures were shut down that May.
Starting in 1995, Jiang Zemin and Zhu Rongji proposed the "grasping the large and letting go of the small" reform for state-owned enterprises, requiring them to gradually withdraw from non-critical industries.
Russia implemented a loans-for-shares scheme, where oligarch banks used funds lent to the government as collateral to acquire controlling stakes in core enterprises such as oil and metallurgy through auctions.
Li Jiating's mistress Xu Fuying ran the "Haiwang" on Yangzong Lake in Yunnan, and the cruise boat became a platform for officials, tobacco merchants and real estate developers to exchange resources; Li Wei worked as an assistant on the boat at the time.
In 1995, the Law on the People's Bank of China and the Commercial Bank Law were passed, marking the initial establishment of China's modern financial framework.
Yang Lan ended her first marriage and married Wu Zheng in 1995, after which the two began conducting business and media activities in both China and the United States.
The Chinese government intervened in the reincarnation process of the Panchen Lama. The Panchen Lama designated by the Dalai Lama was taken away by the Chinese side, after which China selected and promoted a Panchen Lama of its own.
From 1995 to 1996, China carried out missile tests and military exercises to intimidate Taiwan ahead of its 1996 presidential election.
From 1995 to 1999, China built facilities on Mischief Reef, which is claimed by the Philippines.
Representatives from five shareholders, including China Construction Bank and Morgan Stanley, signed the agreement at the Diaoyutai State Guesthouse in Beijing, with Wang Qishan serving as the first chairman, marking the official establishment of CICC.
Legislative Council member Tu Jinshen, at a Legislative Council meeting, raised concerns about the Hong Kong government's security policy, stating that the Minister of Public Security's remarks on the Patriotic Triad undermined the morale of Hong Kong law enforcement officers, and expressed worry that triad figures might exchange political donations for preferential treatment.
On September 7, 1994, the film 'In the Heat of the Sun' was submitted to the Film Bureau for censorship. The Bureau proposed seven modifications, but Jiang Wen argued his case and ultimately managed to keep 'The Internationale' in the group fight scene.
Zhang Yimou's film “To Live” won the Jury Prize at the Cannes Film Festival, and Ge You won the award for Best Actor. The film was not released in mainland China because it directly confronted the devastation inflicted on ordinary people by political campaigns such as the Cultural Revolution.
Deng Zhifang, the younger son of Deng Xiaoping, lost nearly 200 million RMB at the Casino Lisboa in Macau. The debt was subsequently covered using overseas public funds from Shougang by Zhou Beifang, which triggered Zhou's eventual arrest and sentencing.
On January 1, 1994, the official and market exchange rates of the Renminbi were merged, forming a unified exchange rate.
In 1994, China carried out price reform, abolishing the dual-track pricing system of capitalism and socialism, and the problem of official profiteering (guandao) was initially resolved.
With the China Three Gorges Project Corporation acting as the credit entity, the China Development Bank provided a massive 30 billion yuan, 15-year loan for the Three Gorges Project. At that time, Yu Xiaoping was responsible for related financing at the head office.
From Beijing with Love was released; the scene in which the protagonist pays the firing squad 100 yuan and is then politely escorted out the door is interpreted as a satire on the darkness of the judiciary and the power of money to open every door.
To attract overseas capital and encourage foreign investment, China introduced a rule temporarily exempting dividends and bonuses received by foreign individuals from foreign-invested enterprises from individual income tax.
In 1994, the Budget Law was passed, further improving China's modern financial framework.
After recording the special episode of the Zhengda Variety Show, Yang Lan flew to New York, successively studying at New York University and Columbia University, during which time she met Wu Zheng.
Feng Xiaogang partnered with Wang Shuo to establish the Haomeng Company, and with Wang Shuo's help, he adapted and directed his first film, "Gone Forever with My Love".
Zhu Rongji pushed forward the tax-sharing reform, allocating 75 percent of value-added tax to the central government and retaining 25 percent for local governments, while establishing a vertical national tax team. This led to a massive surge in central government fiscal revenue alongside a sharp increase in local fiscal pressure, laying hidden dangers for land finance and local government debt.
The tax-sharing reform, finalized at the end of 1993 and implemented the following year, established the framework for central-local fiscal distribution and land finance.
In late 1993, China determined the plan to unify the RMB exchange rate, merging the official and market rates. The relevant reforms were officially implemented the following year.
Xiang Huaqiang and Xiang Huasheng set up a film production base in Shenzhen, and simultaneously serve as directors of a Hong Kong investment company together with Guangdong elite family member Ye Xinlong.
After leaving Shanghai, Zhu Yuejun returned to his hometown — Guizhu Village, Chushutang Town, Wugang County (now Wugang City), Shaoyang City, Hunan Province — to open a private clinic. Over the following 30-plus years, he remained rooted in the countryside, treating and practicing medicine for his fellow villagers. In his later years, due to a meager income and a frugal life, he relied on a monthly subsistence allowance (dibao) to make a living.
“Oriental Horizon” officially went on air, and Bai Yansong, from a temporary planner, was pushed in front of the camera, ushering in a period of public opinion supervision later known as the “mini spring” of CCTV news.
The South China Morning Post, citing Hong Kong police, said that several senior figures of Sun Yee On visited Beijing and are believed to have met Tao Si Ju.
Zhao Xiaolan and Mitch McConnell held their wedding at a small chapel on Capitol Hill in Washington, on a date that coincided with President Reagan's birthday.
At the time, Chinese Public Security Minister Tao Si Ju publicly said that as long as Hong Kong's triad organizations are patriotic and care about Hong Kong's prosperity and stability, they should be united.