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The identity of a Shanghai vagrant, who has become an overnight online celebrity after videos of him explaining Chinese classics to passers-by went viral on Chin
ese social media, has been confirmed by his employer, the auditing office of Shanghai’s Xuhui district government.
The office said the vagrant called Shen Wei became one of its employees in 1986 but
has been on sick leave since 1993, during which he has been paid with a basic salary.
For the past seven years, Shen, usually in rags and tangled long hair, has lived near the metro st
ation of Yanggao South Station and collected garbage every day. He began to get online attention over the past few
days when videos taken by passers-by, and then online broadcasters, show his eloquence, resourceful knowledge of Chinese classics and “wor
ds of wisdom” as he advises onlookers to spend more time on reading rather than taking videos of him.
He spends most of his spare time reading books, mostly Chinese classics which he has bought wit
h the money he earns from garbage collecting. He refuses to receive help and told the Red Star News reporter that he has around 10
0,000 yuan ($14,991) in his bank account. The money comes from his 2,000 yuan monthly salary and his father’s savings.
Use of China’s mobile payment services has skyrocketed over the past five years, with total transactions covered reaching 277.39 trillion yua
n ($41.51 trillion) in 2018 — a more than 27-fold increase from five years ago, according to the central bank.
A total of 60.53 billion mobile payment transactions were conducted last year, as a repor
t released by the People’s Bank of China Monday shows, while the figure was only 1.67 billion back in 2013.
From around 2013, with online payments dominant and mobile payments only nas
cent, to 2018, which saw mobile payments outpacing the domestic market, it is easy to observe a mo
bilization trend in payment structures, Xue Hongyan with the Suning Institute of Finance told Securities Daily.
The number of China’s online payment deals has jumped from 23.67 billion in 2013 to 2018’s 57.01 billion, and trans
action value more than doubled to 2,126.3 trillion yuan in 2018 from 1,060.78 trillion yuan five years earlier.
NEW YORK – UP Fintech Holding Limited, a leading online brokerage firm focusing on global Chinese investors, rang th
e Nasdaq Stock Market opening bell on Wednesday in celebration of its initial public offering (IPO).
The company, known in Asia as “Tiger Brokers,” trading under the ticker symbol of “TIGR,” announced its IPO of 13 mill
ion American depositary shares (ADSs), each representing 15 Class A ordinary shares, at a price to the public of $8 per ADS.
UP Fintech Holding started trading at $8.10 per share on Wednesd
ay, climbing 24.6 percent from its pricing, and was traded at $9.97 apiece around midday.
Citi and Deutsche Bank acted as lead managers on the deal.
Online brokers utilize APPs and websites to provide integrated online securities services, incl
uding customer acquisition, account opening, securities trading and other value-added services.
the EU can’t easily be predicted.
The difficulty for the EU is that, long or short, any delay comes with complications. And this is where opinions in European capitals start to diverge.
If the UK hasn’t left the EU by May 22, it might have to take part in elections to the European Parli
amentary elections, which begin the following day. Not doing so could be a breach of the UK’s obligations as a
member state.And if that happens, there is a real concern in Brussels that hardline Euroskeptics could stand for elect
ion, in protest at Britain not yet having yet Brexited. They might find a receptive public, and in turn, join interesting new fr
iends in the European Parliament. Sound far fetched? An EU source recently told CNN of worries in Brussels that far-right figures like To
mmy Robinson could end up as Members of the European Parliament, with all the associated attention that brings.
So a short delay is the preferred option of many in Brussels, especially in the Parliament. But that brings its own set of issues. Fi
rst, there is no guarantee that by the end of it, the UK Parliament would have given a thumbs up to May’s deal. In reality, it cou
ld just mean a delay to a no-deal Brexit that almost everyone claims they want to avoid, but still remains the default legal position.