so glad they are focusing on chess,

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BEIJING wholesale air max cheap , Dec. 28 (Xinhua) -- Chinese authorities released adraft of new rules on Monday that tighten regulation ofpeer-to-peer (P2P) lending.


The rules were drafted by several government departmentsincluding the China Banking Regulatory Commission, which aresoliciting public opinion on them until Jan. 27, 2016.


P2P lending, or lending done without a traditional financialintermediary such as a bank, has grown fast in China in the pastfew years, as investors seek higher returns than bank depositswhile small businesses find it easier to secure funds through P2Pplatforms.


The new rules will impose 12 restrictions on P2P platforms,prohibiting them from taking in public deposits wholesale air max clearance , pooling investors'money to fund their own projects, or providing any kind ofguarantee for lenders.


"Those involved in illegal fund-raising and other unlawfulactivities under the disguise of P2P lending should be resolutelyremoved from the market," according to a statement.


P2P platforms should leave investors' money in the custody ofbanking institutions, according to the new rules.


Platforms are also required to set upper limits for the amountof loans a borrower can get in a single deal, and a borrower'stotal outstanding loans, in accordance with their risk managementcapability.


Many platforms have veered from their original function asbrokerage between borrowers and lenders, providing guarantee forthe lenders or pooling their money for other use instead wholesale air vapormax , said thestatement.


Some platform operators were suspected of making falseadvertising or illegally absorbing public deposits, while some madeoff with investors' money after business went sour, it noted.


There were 2,612 P2P platforms running normally across thecountry as of the end of November, brokering over 400 billion yuan(61.7 billion U.S. dollars) of loans in total. In addition, therewere 1,000 non-performing P2P platforms wholesale air max mens , accounting for 30 percentof all P2P platforms.


"There are hidden dangers, such as credit risks and liquidityrisks, that could affect the financial market order and socialstability," the statement said.


P2P platforms typically offer yield rates above 10 percent forinvestors, while China's benchmark interest rate for one-year bankdeposits stands at merely 1.5 percent now.


Regulators recognized the role of P2P lending in reducing thefinancing costs for small businesses and supporting innovation andentrepreneurship.


The rules will clean up the market environment and protectinvestors' interests.


After the rules take effect, P2P platforms will have a graceperiod of 18 months to rectify their business. Enditem


BEIJING, May 22 (Xinhua) -- With trophies of two prestigious team chess tournaments already under their belt wholesale air max womens , Chinese male chess players are eying on an individual world title.


China won the FIDE men's world team chess championship for the first time in April following its first men's chess Olympiad cup triumph last year.


Chinese coach Ye Jiangchuan believes that his proteges are capable of winning more glories.


"Last year when we won the Olympiad Cup, many attributed it to a bit of luck, but we won the team championship this year, which demonstrated it's not simply because of luck. Now the Chinese male players can be ranked among the best in the sport," Ye said on Friday.


Unlike their male counterparts, China's women players have already made their mark in the world stage, winning the team title several times and also boasted four individual world champions wholesale air max free shipping , namely, Xie Jun, Zhu Chen, Xu Yuhua and Hou Yifan.


The Chinese Chess Association has adopted a gradual approach in promoting the sport in the country with less chess tradition. After their women players' success on the world stage, now they aim to emulate that on the men's part.


According to Ye, the development of chess in China can be divided into three phases, firstly winning women's titles wholesale air max online , secondly claiming men's team titles and finally the men's individual champion.


"After a decade of hard work, now the Chinese male players have what it takes to win the pearl on the crown - the men's individual world title," Ye said.


Currently eight Chinese male players are in the world top 50, with Ding Liren being the highest at 11th.


Ding, 23, received an invitation last month from world number one Magnus Carlsen of Norway to train together. and he said he has learned many from Carlsen.


"There's a big gap between the number one and Chinese players, so I think we have to do more in all aspects wholesale air max tn ," said Ding, who skipped Chinese chess league matches for the training.


The Chinese Chess league, which has entered into its 11th season this year, is seen as a platform for Chinese players to hone their skills. The league has even attracted world-class players from abroad.


"The first 10 years of the league witnessed a breakthrough in men's team events, now I hope we can make more breakthroughs in men's individual events," said Yang Junan, president of the Chinese Chess Association.


"China boasts several rising stars wholesale air max plus , including Ding, Yu Yangyi and Wei Yi. They are talented, training hard and they yearn for more successes after winning the team's events. I'm so glad they are focusing on chess, and they will be the hope for future," said Ye.


"I believe the dream of winning the pearl on the crown will come true one day."


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