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NANJING Authentic T.Y. Hilton Jersey , Feb. 1 (Xinhua) -- Police in east China's Nanjing City arrested 12 people Thursday, including the boss of an online financial firm, for illegally obtaining money.


Zhang Xiaolei, who was the controller of Qbao Authentic Andrew Luck Jersey , and 11 other suspects have been arrested on charges of illegally siphoning off public money, police in Jiangbei new district in Nanjing said.


Zhang founded Qbao in 2012 and used it as a platform to accumulate money given by creditors, who were lured by large interest returns as high as 60 percent, police said.


Qbao was found to have amassed huge amounts of money T.J. Green Jersey , police said, without specifying numbers.


In its heyday, the website was said to have 200 million registered users and billions of yuan worth in cash flow, according to previous report.


Local police said they were doing their best to retrieve investor losses. Police have seized assets of the company and the assets will be disposed of after the court verdict.


Police ask investors to timely register information with the police and not to organize illegal activities.


In January Marlon Mack Jersey , 11 investors were detained for organizing illegal gatherings and disturbing public order.




BEIJING, Sept. 29 (Xinhua) -- China's outstanding external debt continued to grow in the second quarter as the economy firms up, the country's foreign exchange regulator said Friday.


The debt settled at 1.56 trillion U.S. dollars at the end of June, up 8.7 percent from a quarter earlier Tarell Basham Jersey , the State Administration of Foreign Exchange (SAFE) said in a statement.


The majority of China's external debt owed to foreign creditors results from short-term borrowing, while long- and medium-term outstanding external debt accounted for 36 percent, SAFE data showed.


The SAFE attributed the growth of external debt to steady economic growth and stable foreign trade in the first half as well as the central government's efforts to facilitate cross-border financing.


The SAFE predicted steady growth of external debt as China's economic fundamental remains solid.


It also promised better debt management and strengthened supervision of capital flow.



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