CHAN:
Hundreds of Chinese investors who fell victim to the collapse of the state-owned YiLin company are protesting in Beijing. They demand the company or state give them compensation for the losses they have incurred.
STORY:
It’s early in the morning and hundreds of people are on the streets, protesting outside Beijing’s City Council.
Most of them are investors who fell victim to YiLin’s collapse and are demanding that local authorities step in to help them recover their financial losses. Others are protesting against the Communist regime’s acquisition of land and withholding of salaries - which are said to be due to the global financial crisis.
The authorities have responded by bringout out one hundred police to quell the demonstrations
[Ms. Wu, Witness]:
“Victims of the YiLin investment case still hold investment contracts and agreement documents provided by the state council and local governments. Even so, their money wasn’t returned when YiLin went broke. The government hasn’t done anything for those victims.”
Even foreign reporters covering the event have been ordered to leave.
[Ms. Wu, Witness]:
“Associated Press reporters came today, I asked them to make a story about this, but police told them to come back later because he was blocking the road. There were a lot of policemen and police cars, maybe 50 to 60 on both sides of the road.”
According to publicly available data, a significant number of “YiLin” investors were elderly people who invested their entire life savings. In the Spring of this year, the Yilin Corporation advertised on state-run television (CCTV) to encourage people to invest in a tree-planting scheme in the arid northern region of Inner Mongolia. They were promised huge returns within eight years. However, what people actually bought are pieces of barren land without any trees.
So far there has been no comment from authorities.
NTD, Beijing.
Duration : 0:1:58
April 28th, 2009 at 7:12 am
voice - what voice …
voice - what voice - where and how.
Chinese people are more free than you are - becuase they know for a fact that they are ruled by a single government but you BELIEVE that you are not and have more of a ‘voice’
you aint got no voice or power to change but the fact that you think you do makes you the perfect slave in a greater controlled COVERT authorative society.
April 28th, 2009 at 7:12 am
Oh Sure we do, but …
Oh Sure we do, but nothing compared to China. The people of the United States at least have some voice, China’s people have None…..
April 28th, 2009 at 7:12 am
you try managing …
you try managing over 6 billion people - the chinese dont do a bad job
they will not be a revolution - starvation would truly follow the mass people of china know - the students and unemployed rebels wont get v far
April 28th, 2009 at 7:12 am
and your country …
and your country does not !!!!!
muppet
April 28th, 2009 at 7:12 am
People from all …
People from all over the World are going to Devour their Government for the corruption they have comitted all these years
April 28th, 2009 at 7:12 am
I feel sorry for …
I feel sorry for the people, but I don’t like China. China does horrendous things to people and animals
April 28th, 2009 at 7:12 am
Ms. WU should frame …
Ms. WU should frame her investment contracts as a reminder to keep her yen in her mattres.