Society

It is well recognized that China’s recent prodigious economic growth has been built on not just exports, but equally massive bank lending for fixed-asset investment.

But keep doing the same thing for too long, and it is likely to eventually run into the basic economic law of diminishing returns. China’s growth model increasingly appears to have hit a ceiling, with few easy answers this time round.

As a series of economists last week pared their gross domestic product forecasts due to weaker global growth, fresh fears have also emerged over unsustainable levels of bank lending. The need for China to switch to domestic-consumption-led growth now looks a matter of necessity rather than choice.

A decision by Beijing authorities to impose tax on mooncakes, a delicacy given as gifts for the Mid-Autumn Festival, has sparked an outcry in the Chinese capital, reports said Monday.

The cakes — heavy pastries containing sweet lotus seed paste — will from this year be considered a non-cash benefit and subject to income tax, the Global Times said, citing the Beijing Local Taxation Bureau.

A poll conducted by the microblogging service Weibo found that 96% of users opposed the tax on the sweetmeat, and many Chinese said they would prefer not to receive them at all.

Passengers stand in line for security checks at Terminal 3, Beijing Capital International Airport, on Sunday afternoon.

Fights broke out among angry passengers at Beijing Capital International Airport on Sunday morning, after the security level for domestic flights was raised from level one to level two.

Long lines formed as passengers were told to remove their shoes and belts and luggage was checked, and tempers flared as passengers pushed and shoved to get through the security gates.

"I have witnessed three fights," said one passenger on his micro blog.

First joint operation by the two countries to tackle cyber crime

The US and China have reportedly joined hands to shut down a network of Chinese child pornography sites.

According to an AFP report, the two countries closed the ring having at least 48 pornographic sites aimed at Chinese Internet users.

Eighteen of the 48 sites contained graphic images of children, China's public security ministry said.

The ministry said the joint operation was "the first successful joint law enforcement campaign by the two nations on online crimes."

"We will continue to strengthen joint judicial cooperation with other nations to tackle international cyber crimes such as online pornography, fraud, gambling and hacking," it added.