Illegal use of sea sand

    Shenzhen Universe (Group) Co. acknowledged on March 19 that one of its subsidiaries* has been ordered to stop operations for a year because the subsidiary illegally used sea sand to make concrete.

    It is estimated that the company could suffer losses of at least 2 million yuan (US$317,000) because of the penalty*. Shenzhen Universe’s stock prices* dropped 3.19 percent on March 20.

    Solar giant goes bankrupt

    China’s Suntech, one of the world’s biggest solar panel* manufacturers, was forced into bankruptcy* on March 20. Suntech became the latest victim of a painful slump in the global solar industry.

    The New York-listed* company, headquartered* in Wuxi in Jiangsu Province, said eight Chinese banks asked a court to declare it bankrupt after the company missed a US$541 million payment to bondholders*. Suntech said it would not oppose the petition*.

    Nine die in hail storms

    Seven thunderstorms and heavy hail* struck Dongguan on March 20, killing at least nine people and injuring 272 others.

    Many neighborhoods in Dongguan were hit by thunderstorms with heavy rainfall, strong winds and hail, causing damage to homes and vehicles. The Dongguan Municipal Meteorological Observatory said the hail signal it had issued was its first since the system was established in 2006.

    Xi leaves Russia, visits Africa

    President Xi Jinping wrapped up* his state visit to Russia on Sunday, his first foreign destination after taking office earlier this month, and started his African tour in Tanzania before heading to South Africa.

    During his visit to Russia, Xi and his Russian counterpart Vladimir Putin vowed to enhance their countries’ comprehensive strategic cooperation.

    In South Africa, Xi is attending the fifth BRICS summit in the port city of Durban on March 26-27. It is the first BRICS summit held on the African continent.

    (SD-Agencies)