Ministry of Finance, Ministry of Commerce and Ministry of Industry and Information Technology jointly issued an announcement yesterday indicating their intention to crack down on rorts in relation to the policy of offering subsidies for home appliances sold in rural areas introduced as part of stimulus measures announced in late 2008. The new regulations require provincial-level finance bureaux to conduct inspections and spot checks to make sure that retailers are not falsely claiming subsidies. Economic data for April revealed a decline in the number of home appliances sold as part of the "home appliances to the countryside" program, with 3.29 million units sold, down 31% on the number sold in April last year. In monetary terms, 8.72 billion yuan worth of appliances were sold as part of the program, down 12% on the value of goods sold over the same period in 2010. This is the first drop in monthly sales by either voloume or value since the program was first introduced in Dec 2008. In a note from Xiangcai Securities, analysts argued that the drop in sales was not related to weakening demand but rather stricter supervision and regulation by government authorities.

11、“真功夫”老板蔡达标被捕 涉嫌挪用资金职务侵占 

Head of Chinese Fast Food Chain Kungfu Arrested  

Cai Dabiao, president of popular Chinese fast food restaurant Kungfu (Zhen Gongfu), was arrested by Guangzhou authorities along with 4 other suspects on April 22 on charges of suspected embezzlement, misappropriation of funds and other charges. Cai Dabiao had been on the run after Guangzhou police opened an investigation into suspected crimes in the management of the company on March 17.

12、杭州停电潮波及民用：电力缺口15% 7年来最缺电 

Hangzhou Reports Most Severe Power Shaortage in 7 Years 

A number of residential areas in Hangzhou were effected by the first wave of power outages for this year on May 10, as temperatures in the southern city climbed to above 36 degrees celsius. According to official figures, demand on the system climbed to 6490 megawatts on Tuesday, which meant that the power shortage already exceeded 1000 megawatts. Officials expect demand to increase even further over the coming summer months.