Executive jailed

LI ZIPENG, a former vice manager with Shenzhen Properties and Resources Development (Group) Ltd., was recently sentenced to five years in jail for taking 1.95 million yuan (US$285,547) and HK$1.3 million (US$203,544) in bribes by offering help in project bidding and tendering and payment settlements, Shenzhen People’s Procuratorate said on its official microblog Monday.

Taxi accidents rise

THE city has reported 42 cab-related accidents that resulted in seven deaths and 17 injuries so far this year, a 180 percent increase in accidents compared to the same period last year.

Police checked 6,924 cabbie violations. Shenzhen Xunda Transportation Co., Shenzhen Anda Transportation Co. and Shenzhen Anheng Transportation Co. ranked the top three with 293, 280 and 254 violations, respectively, police said at a news conference Monday.

Housing price drops

HOUSING prices in Shenzhen dropped by 0.6 percent in May compared to April, according to a monthly report on the housing prices in 70 Chinese cities released by the National Statistics Bureau.