• Financial regulators issued joint notice to banks on Friday
• Developers can extend some loan repayment by one year: people

China has unveiled its most sweeping rescue package to bail out a real estate market mired in a record slowdown and deepening liquidity crunch, according to people familiar with the matter.
The People’s Bank of China and the China Banking and Insurance Regulatory Commission on Friday jointly issued a notice to financial institutions laying out plans to ensure the “stable and healthy development” of the property sector, said the people, asking not to be identified as the matter is private. Unlike previous piecemeal steps, the latest notice includes 16 measures that range from addressing the liquidity crisis faced by developers to loosening down-payment requirements for homebuyers, the people said.
As part of the rescue plan, developers’ outstanding bank loans and trust borrowings due within the next six months can be extended for a year, while repayment on their bonds can also be extended or swapped through negotiations, the people added.
The move is the strongest sign yet that Chinese policy makers are easing a years-long clampdown on the property sector, one of the biggest drags on the world’s second-largest economy along with the nation’s dogged Covid Zero policies. Authorities also issued a sweeping set of measures to recalibrate their pandemic response on Friday, publicly outlining a 20-point playbook for officials aimed at reducing the economic and social impact of containing the virus.
Taken together, the policy shifts by President Xi Jinping’s government will likely ease two of the biggest headwinds to China’s growth outlook and add fuel to a market rally that sent a gauge of Chinese shares in Hong Kong up 17% in the past two weeks.
It’s a stark reversal from the gloom that descended over markets in late October, after Xi’s elevation of close allies to the highest rungs of power stoked concern that ideology would trump pragmatism for the most powerful Chinese leader since Mao Zedong. The Hang Seng China Enterprises Index has now erased losses suffered in the immediate wake of last month’s Communist Party Congress, swinging from one of the world’s worst-performing stock gauges to among the best.
The central bank and the banking regulator didn’t immediately reply to requests for comment out of working hours on Sunday.
Authorities have sought to defuse the property crisis with a raft of measures in the past few months, including cutting interest rates, urging major banks to extend 1 trillion yuan ($140 billion) of financing in the final months of the year, and offering special loans through policy banks to ensure property projects are delivered.
China also expanded a key financing support program designed for private firms including real estate companies to about 250 billion yuan this week, a move that could help developers sell more bonds and ease their liquidity woes.
One of the biggest policy changes in the latest notice is to allow a “temporary” easing of restrictions on bank lending to developers.
China began imposing caps on bank’s property lending in 2021, as authorities sought to tighten the reins on a bubble-prone industry and curb leverage at some of the nation’s largest developers. Banks not meeting the current restrictions will be given extra time to meet the requirement, said the people.
In addition, regulators encouraged banks to negotiate with homebuyers on extending mortgage repayment, and emphasized that buyers’ credit scores will be protected. That may alleviate the risk of social unrest among homebuyers who have engaged in a widespread boycott on mortgage payments since July.
China’s $2.4 trillion new-home market remains fragile and property debt defaults have surged. Price declines in the existing-home market were the most extreme in almost eight years in September, according to the latest official data. At banks, the proportion of bad loans related to property has surged to 30%, according to Citigroup Inc. estimates.
https://preview.redd.it/yypnsg5ypoz91.jpg?width=1200&format=pjpg&auto=webp&s=f824058eeab988e3eae021a07dcf9e18f20c40e9
Signs of easing property curbs and pandemic restrictions have led to a sharp rebound in China assets. A Bloomberg Intelligence gauge of Chinese developers’ stocks jumped a record 18% Friday, with Country Garden Holdings Co. surging 35%.
Still, the financial backstop is dwarfed by the looming debt maturities facing developers. China’s property sector has at least $292 billion of onshore and offshore borrowings coming due through the end of 2023. That includes $53.7 billion in borrowings this year, followed by $72.3 billion of maturities in the first quarter of next year.
— With assistance by Charlie Zhu, Zheng Li, Emma Dong, Heng Xie, Jiejing Cai and Dingmin Zhang by Bloomberg News

Hello ladies and gentlemen
I'm ash and I write detailed DD on stocks and events, so last week I published my Full plan and analysis.In this post, we will cover

• This week’s Earnings
• This Week's Major Economic Events
• This week’s Watchlist
• This Week’s lotto 10 bagger Play

$2k to $100k Challenge Update

Big Week, we made a lot of $$$ correctly calling that JPow will be dovish, as a matter of fact, the day of the meeting after we had a bunch of reports come out in the am (and the market reacting poorly to them) I doubled downed a said we will a surprisingly dovish JPow based on the numbers we got that morning, and we did!Proof:
https://preview.redd.it/z7ih4q7ctw3a1.jpg?width=447&format=pjpg&auto=webp&s=37926c13317f7ea38b2f9b4da5e18bd75909b962
We will go more in-depth into what he said later on as it changes a lot of things now.
We also nailed GDP and PCE predictions as well.
Job numbers were surprising on Friday, usually, these don't really have an effect on the market that's why I had no play for them, but since JPow said it's a key focus moving on forward, the market took a hit on bad numbers. (they are not as bad as people think, ill explain when we discuss the next job numbers plays),
For earnings, MRVL paid off as it ran hard before the earnings at which point I got out (because why risk it with earnings, IV crush, etc…) but the earnings play itself was wrong, so an L there, DG puts paid off well.
From the watchlist, NFLX was an absolute BEAST, sold at 300%+, and re-entered some more for that gap fill, been pounding the table on that one for weeks and we keep banking off it!
Our 10x play VIX puts, was successful as well, it didn't 10x but still went 22.5 to 19, 200-300% play ( I didn't take the play btw)
For those who don't know, I'm 33 trading days in a challenge where I trade live every day, starting with $2k (actually $1.8k) and trade my way to $100k, live in front of everyone every day.
Options Starting Amount: $1000 Day 38 Closing Amount: $14,097 Port % Change: 1410%
Futures/Commodities Starting Amount: $800 Day 38 Closing Amount: $1918 Port % Change: 102%
I sold most of my swings from last week as they ran 50-500%+,Sold COIN at loss (what a turd), Sold AMD at breakeven (I'm an idiot lol), TQQQ (50%-70%), NFLX (300%+), SPX (100%-500%), TSLA (50%-100%)
Like I said last week as we approach the 200MA on the daily SPX, I'm moving more into cash,
I have now around $12K in cash and hold

• AFRM 01/20/2023 17.50 C
• NFLX 12/30/2022 330.00 C
• SPX 12/08/2022 220.00 C

https://preview.redd.it/42wby53dtw3a1.png?width=1795&format=png&auto=webp&s=a155eaf925cf5c0c81397c37c33dfd21298065c7

Major Economic Events

Monday 12/05
10:00 AM ISM Non-Manufacturing PMI (Nov)
Thursday 12/08
08:30 AM Initial Jobless Claims
Friday 12/09
08:30 AM Core PPI (MoM) (Nov)
08:30 AM Core PPI (YoY) (Nov)
10:00 AM Michigan Consumer Expectations (Dec)
10:00 AM Wholesale Inventories (MoM)
So normally the only important event this week would be offcourse PPI and for the most part, it is, but after JPow made it clear how workforce participation is the final part to tame inflation, people will be keeping an eye on the initial Jobless claims.
While this is not a job report, we can expect some sort of market reaction to it, especially given how poorly the Friday report did. Now speaking of the Friday report, The reason why it was so off is that household surveys and NFP are measured in very different ways, likely people with jobs or the gig economy are skewing the data. ADP report showed us that people are still losing jobs. I think we will be ok here, but it's a little too soon to tell.
PPI is going to be a very important report, usually, it comes after CPI, and usually, it follows it, so it might be safe to assume if PPI is good so will CPI and vice versa.PPI YoY is expected to come in at 7.2% vs 8% Previous and MoM 0.2% vs 0.2% Previous
Core PPI YoY is expected to come in at 5.9% vs 6.7% Previous and MoM 0.2% vs 0% Previous
So it seems that forecasts are pretty dovish here, and if we are able to meet expectations or beat we should get a nice run as people start to price in a CPI beat as well, and not only that but our second PPI report decline in a row.
I think we continue the trend here and we meet expectations, there are a lot of price reductions that weren't even priced in yet from the last report, so ill be getting an ATM SPX Call 12/14 on Thursday as a play for PPI.

Earnings

PS we played all these earnings before in my 1st or 2nd weekly watchlist, we have come full circle, nice!

Mon 5 Dec

After Close - GitLab Inc. ($GTLB)

• Technology
• Estimate Earnings Call Time: 4:05 PM EST
• Estimates: EPS $-0.154 & Revenue $106M
• Options pricing in a 16.4% move on earnings
• My Play: Flow is slightly bearish, and tech missed for the most part, but GTLB has been beasting the past few earnings and RBC & BofA expect a beat, I'm going with calls on this one.

Thurs 8 Dec

After Close - Lululemon Athletica Inc. ($LULU)

• Retail Trade
• Estimate Earnings Call Time: 4:05 PM EST
• Estimates: EPS $1.96 & Revenue $1.81B
• Options pricing in an 8.8% move on earnings
• My Play: Flow is very bullish, Long lines this holiday, shows how resilient this stock is. Taking calls.

After Close - DocuSign Inc ($DOCU)

• Technology
• Estimate Earnings Call Time: 4:05 PM EST
• Estimates: EPS $0.42 & Revenue $626.9M
• Options pricing in a 17.8% move on earnings
• My Play: Flow is very bearish as is to be expected, I don't understand why there is a 10B company just for signing documents, taking puts

Watchlist

- AMZN Long
AMZN ran on record holiday shopping numbers but has since lagged behind, if it is able to hold 21MA on the daily, it can bounce to the 50MA, taking a swing position if 21MA holds
https://preview.redd.it/dhgxmzzgtw3a1.png?width=1517&format=png&auto=webp&s=22e8e704489e08bcc101604aa170b9dcc9ab6e0a
- MRVL Long
Despite earnings, MRVL has great fundamentals and a great-looking chart, looking to add a long position here, will cut below 50MA. Holding for 200MA test
https://preview.redd.it/os9jwpujtw3a1.png?width=1517&format=png&auto=webp&s=724bf8c70eea712388f02c4f7b9cfd913e9242bc
- AMD Long
AMD has been stuck in a channel for a while now, if it is able to break through the $79 resistance, this can quickly test the 200MA, Will wait for the trigger to enter a position
https://preview.redd.it/84pxx2cmtw3a1.png?width=1517&format=png&auto=webp&s=5ce41986a94e06d21ca0bf96b652224d9f61076c

Bonus Potential 10 Bagger Play

This is the 3rd im doing NFLX as 10x play but, we made a lot of $$ on it the first 2 times, Taking the same week 325c for the gap fill, That is a $10 move to $330. The speed at which the gap fills will determine how much $$ we make, so fingers crossed for a 1-day fill.
https://preview.redd.it/49jcgw8otw3a1.png?width=1517&format=png&auto=webp&s=50728cf717133d1f6183272e825d1b8bec5a7db2
Alright, so that's it for this week, ill be doing this every week and going through the previous week’s play to see how much we gained and where we went wrong.
If you have any questions let me know, none of this is financial advice!

​
https://preview.redd.it/ttzi1nxtxm4a1.png?width=1062&format=png&auto=webp&s=cae2a82326d65f6391b611e4b6bcb461e4a2c0d6
Edit: The POB's should have had "Is the enemy a boss" setting to no to reflect the maximum mapping damage. I updated these since some were stuck on uber boss settings. I also added "Area" under AOE radius to better illustrate the magnitude of RF's coverage since the radius is squared when calculating area. I couldn't find the exact radius of Consecrated Ground but some of the values for enemy c ground is between 12-18. Based of the poe wiki image for radii, my visual confirmation of c ground is somewhere between 15-20, closer to 18. Also I left flasks off by default so if you're worried about elemental damage, you can turn those on to see the ele max hit values.
[New gems - https://www.pathofexile.com/forum/view-thread/3324768Awakened Blasphemy will have 25% less curse effect instead of 10% increase.
Flammability lvl 20 will have -36% fire res instead of -44%
Elemental Weakness lvl 20 will have -30% res instead of -44%With these upcoming changes, you can expect overall DPS to be comparable to the current standard/map boss setting. If you can handle self casting 2 curses, then the current damage won't change much at all.]
https://preview.redd.it/o3wbu4c6pi4a1.jpg?width=1920&format=pjpg&auto=webp&s=79a531badb45f56fa3aa6a3a0001ae1f1ee31ade
(Pure RF/VRF DPS is in millions; I’m a RF purist and I think throwing traps looks and feels stupid. I’ll use Scorching Ray sometimes early in the game if my progression is slow. Inquisitor has two sets of numbers to reflect Rf with and without being on Consecrated Ground.)
​
So I’ve been playing RF Juggernaut for a while now since Guardian got stomped into the ground. I never bothered to make a guide for Juggernaut because there were so many Inquisitor fans plus I didn’t need the competition in trade, heh. I’m going to be skipping 3.20 and returning to standard to try to grind for some mirrors. There seems to be a shift in interest towards Juggernaut again and I won’t be competing for the same items so here’s some info. Try not to take this as a guide for 3.20 or as a recommendation to spend your time in the same manner. This is just a showcase of what is possible with PURE RIGHTEOUS FIRE in a league (and standard) from a RF enthusiast and what has worked for me so far. I spent Kalandra league exploring RF Inquisitor while switching gear with a Juggernaut to compare. All but one of these POB’s are for a Juggernaut through various stages of upgrading; one is of the Inquisitor at ultra high investment. I didn’t bother doing the progression of the Inquisitor because there’s plenty of that around. I didn’t really sell much of my gear as I was progressing so I thought it would be interesting to Jugg noobs if I reverse engineered my build and posted some numbers. The numbers are rough estimates as my gems are awakened and max level and I’m obviously not sure exactly when I bought certain upgrades; it will matter less in the lower budget versions since the damage scaling is so weak. Also, I swapped my +4 amulet with a sensible +2 for the non-standard examples because you won’t get that next league heh. My current Juggernaut build is the result of brewing in 3.15 when everyone quit.
Level 1 - Juggernaut Budget (straight out of campaign 1-2 div, 1-2 days)
https://pastebin.com/nGzibTXJ
Benchmarks: 10 endurance charges on demand with Redblade Banner, Death’s Door, 2 Kaom’s Sign, 6 links with Tabula Rasa, Talisman with Whispers of Doom
Level 2 - Juggernaut Medium (~20div, 1-2 weeks)
https://pastebin.com/3qXNwFD9
Benchmarks: Replica Farrul’s Fur and 6-linking it, start leveling awakened gems, buy a couple 3-mod jewels, Transcendent Mind
Level 3 - Juggernaut High (~175 div, 3-5 weeks)
https://pastebin.com/ktEnNKHf
Benchmarks: Forbidden Flame/Flesh: Aspect of Carnage, Watcher’s Eye, 1 cluster, 3 4-mod jewels, +2 Sceptre, 21/20 Vaal RF, +2 amulet, 2x Enlighten lvl 4
Level 4 - Juggernaut Ultra (~750-1000 div, 6 weeks-end)
https://pastebin.com/ukqSB1sE
Benchmarks: Mageblood, 2x Maven helm, 3 clusters, 7 4-mod jewels, 2x crafted rings, awakened empower lvl 5, +4 amulet
Level 4 - Inquisitor Ultra (additional 50-75 div for +1/+2 armour and other crafted gear)
https://pastebin.com/WZYNGSra
Notable: Same clusters, base jewels, jewelry, mageblood, weapon(Due to gear overlap, the inquisitor is short about 60% inc damage since I didn’t want to craft 2 more separate rings, and recraft my sceptre, so feel free to add that on to have Inquisitor squeak by a win on damage under perfect conditions ie cons ground)
Level 1000 Juggernaut Beef Supreme (Standard, 1000’s of divines x_x)
https://pastebin.com/TNWH9nBY
The power behind the build:
BASE damage
Vaal RF lvl 37 - Mirrored sceptre, +1/+2 body, +4 Kalandra mirror amulet, +1 shield, awakened empower
INCREASED damageAscendancy (Unyielding) - 8% inc dmg and 6% inc aoe per endurance charge
Skill tree cluster (Disciple of the Unyielding) - 8% inc dmg and 3% inc aoe per endurance charge
Charge Mastery - 3% inc dmg per E/F/P charge
Sceptre influenced suffix - 10% inc dmg per endurance charge
So in this build, 1 endurance charge = 29% inc damage
MORE damageForbidden Flame/Flesh Aspect of Carnage - 30% more damage, 10% inc damage taken
5 frenzy charges = 20% more damage
DAMAGE OVER TIME MULTIPLIERBase jewels X 7 - 6% DOT multi, 8% Fire DOT multi, 16% inc dmg, 7% lifeNew amulet suffix - 56% DOT multi (Kalandra mirror)Ring essence - Adding soon on mirrored rings
Enemies TAKE INC DMG
+6 Curse Hands of the High Templar - Level 34 Flammabilty and level 30 Ele Weakness, Blasphemy support2x Maven influenced helmet - Nearby enemies take 9% inc dmg, Nearby enemies have -12% fire resistance.Cluster jewel (Lord of Drought) - 10% inc AOE, 40% inc flammability effect (I think this is getting nerfed)
My build currently has 11 endurance and 5 frenzy charges. I need to craft another shield with the same stats but on a synthesized base with max endurance implicit. There are also +2 max endurance charge rings now due to recombinators so I need to mirror 2 of them or one plus a Kalandra’s Touch. 25 mil is within reach but 3.20 will most likely tank my mapping damage with the curse changes. Bossing damage is going to be massively increased toHere is the thought process behind my build style:

1. I’m slow at reacting to the 100’s of things happening on screen so killing most of the screen automatically appeals to me. I started with harbinger and breach leagues on a potato comp so I loved having my screen freeze and stuff ending up dead around me after it caught up. As such, tankiness and AOE are extremely important to me which is why Juggernaut has become the premier RF build for me ever since I switched to it after Guardian.
2. I’ve never liked bossing in this game because of the severe penalty in damage which sucks really hard for DOT builds. I’m looking forward to the 3.20 curse changes as I have loads of bossing content stockpiled in standard.
3. I have a background in retail so the trade system in POE comes naturally for me. Along with this I can only play for short periods of time before the speed and flashy animations numb my brain. I have a slow and steady approach to accumulating currency in the game so expensive upgrades aren’t so bad because I play lazily while I watch TV or a movie.
4. I am rarely compelled to do league challenges so my build reflects optimization for smooth mobility, AOE, and damage as opposed to more tankiness and single target damage for bosses (at least in the early stages of progression). I usually focus on farming and buying key upgrades before prices get too crazy, then I comfortably tackle stuff like bosses much later when I’m overgeared.
5. I used to try to clear atlas asap to run the league content for currency but earn most of my currency crafting now. The content I run the most reflects this: Metamorph, Harvest, expedition, essence.
6. I'm primarily a standard player who only plays league if something new shows up that will potentially outclass something in my gear. +4 amulets dragged me into Kalandra -_-

My thoughts on Inquisitor vs Juggernaut after minmaxing both:

1. Damage: Because I know how to farm specific content and craft items for profit, I don’t get stuck in the early progression phase for long. The inquisitor’s barely higher damage (because I start mapping with 10 endurance charges on Juggernaut) in the tiny consecrated ground AOE just doesn’t feel good because you generally have to be stationary when taking down a rare/boss. As a Jugg it’s the same if you have a single target skill and stop to attack with it. I tried Bottle Faith when I stopped for a rare/boss and it feels like crap to manage another button for that. This won’t be an issue for more technically inclined players.EDIT: I added area to my spreadsheet to show how much area where INQ outdamages Jugg and how much where it's under.
2. AOE: With similar skill trees and some gear, Juggernaut has way more AOE. Sure, you could use awakened inc AOE and other AOE investment on Inquisitor. Well with those same adjustments on Juggernaut, you would just have way more AOE regardless. The Juggernaut applies about the same damage as Inquisitor at high investment over a much a larger area. If you are primarily running content like maps, blight, expedition then that means more AOE with the same damage is higher dps because more monsters are getting cleared per second.
3. Tankiness: A temporary molten shell with 50% reservation determination feels really bad coming from 10+ endurance charges on a juggernaut, especially because the charges keep refreshing with Replica Farrul’s Fur. If you don’t mind limited buffs then it’s simply that INQ has better elemental defenses and Juggernaut has better physical defenses at a similar budget. Stacking Endurance charges is more work and crafting, but it means you don’t have to run a 50% determination. Mageblood allows both builds to drop Purity of Fire and any other max res gear so elemental defenses feel the same in the endgame save for Inquisitor’s larger health pool at roughly equal investment. If I'm dying it’s usually a combination of AN, essences, and/or wrath of the cosmos with 4-6 altars so it kind of gets lost in that content. It’s kind of awkward because the larger health pool should give INQ the edge in the early game but if you’re pushing corrupted red maps to clear atlas, you’re always pushing the limits of your defenses and will generally die anyway. In the endgame, I’m always pushing the limits of damage as a minmaxer so I never invest excessively into life unless it’s on a 4-mod jewel with 3 damage mods, or it’s close to my main skill tree. For me Replica Farrul’s Fur makes this heavily favor Juggernaut because of the lack of defensive downtime. I ran RFF and 10 endurance charges on my INQ at one point just to see if I could drop determination but that didn’t feel right either because INQ can’t gain nearly as much from charges as the Jugg can. On another note I was thinking about changing the INQ into an AFK bosser due to the limited C ground AOE and ultra high regen, but that got nerfed so…. maybe I’ll revisit the idea at another time. The last thing to consider is that Juggernaut’s inherently larger AOE is a defensive layer in itself because you’re always killing more monsters than an Inquisitor so you’re just getting attacked less with the same investment and non-boss content.
4. Stats: Due to where each class starts and how I path along the outside ring of the skill tree, Jugg has a harder time fixing dex/int than Inq does with STDEX. My particular Jugg build is unique heavy which puts a lot of pressure on the other rares for resists and stats. Mageblood is such a big deal for Jugg since you can get 60 dex and resists taken care of in one shot. I will generally hold big crafting projects until after I get a Mageblood so I don't have to deal with crafting res/stats.

There’s probably more that I missed but I guess you can just ask me whatever and I’ll explain what I can…except for beginner stuff. Pohx put a lot of work into helpling RF noobs so go check out his work and support him. I’m just here to clear any misconceptions about Juggernaut RF.

(So I've been doing a lot of Chinese cases lately. I of course still plan on doing crimes from other countries again but I've found this one during research for another case and it is just too insane, convoluted and interesting for me to hold off on doing it)
On July 13, 2010, a man was walking along a remote dirt road alongside some abandoned houses in Sunji Village in Shanghe County located in China's Shandong Province with him travelling this route to save time as he was needed in another village for an urgent matter. Once he began walking along the dirt road to the abandoned house he had to stop because of a horrendous stench with the smell getting worse and worse the more he walked. He soon found that the source of the smell was an old well around one foot in diameter. Due to the sunlight, he was able to see something stuck inside the well so he used a lighter to better discern what the object was and saw a pair of human feet.
The police arrived alongside the rest of the villagers and rushed to the scene with the police encountering their first problem. The well was too narrow so after negotiations the police had an excavator come in and they with the help of the villagers would dismantle the entire well to retrieve the body and luckily this effort went perfectly as the corpse was retrieved without any damage being done.
​
The well
https://preview.redd.it/v35u7j8usxc91.png?width=471&format=png&auto=webp&s=1916a3cf24f3dde5febd973e1d3b36346175a278
The excavation
The body belonging to a male was naked, heavily decomposed and the face had already skeletonized. Initial examinations showed that the body was 183cm tall, weighed 180kg, was 30 - 40 years old and had been dead for around 3 months - 1 year. The cause of death was blunt force trauma as he had suffered blows to his head and face with that observation leading to the case being classified as a homicide. The police believed that the murder was well thought out and likely premeditated as the killer took great steps to make identification difficult such as removing the clothes and striking the face but also since he disposed of the body in the abandoned well which was too narrow for the body to be removed from without drastic measures and located in a remote area few people ever went to. The police examined the crime scene for clues and found an axe at the bottom of the well which was underneath the corpse before it had been removed with the murderer likely disposing of it in the same place as his victim. The axe was retrieved where forensics confirmed that it was the murder weapon although unfortunately, this axe was the only physical evidence found at the scene.
The axe
There were no fingerprints or DNA evidence on the axe to identify who wielded it but it still proved to be a tremendous help. This type of axe was specially made as it was outfitted with metal reinforcements to prevent the head from falling off the handle. Only one store in Shanghe County sold this type of axe so when the police questioned the owner he provided them with a purchase record and explained that out of the 80 he had purchased only 13 were sold and that although he didn't remember the name or look of his last customer his records showed that he sold such as axe in December 2009 meaning that month is the absolute earliest the murder could've happened. After further questioning the villagers they later revised the estimate as several had stated that around January 28, 2010, they saw some dark red substances near the well and on the snow with the police believing that to be blood so they now had confidence that the victim had died in January 2010.
Despite this progress, the police were still no closer to identifying the victim let alone catching the killer so they directed their efforts there. 17 people were reported missing in Shanghe County but they were all ruled out as being the victim so the police made their search province-wide and after that didn't work they even went national to no avail. That was until the police retraced their steps and reexamined the 17 missing locals and found one name they did like. 33-year-old Wang Xiyuan was born in 1976 and operated a large chicken farm and was a married man with three kids. Although he went missing on March 9, 2010, and not in January it was still the closest match so far so the police decided to investigate his case. According to his wife, Wang left home that day and never returned. The police would be disappointed however when Wang was described to them as his height and physique did not match the body but right when they were about to leave they were told something interesting. Wang had purchased a Volxswagon Santana which he had sent to a repair shop to get painted before his disappearance. The Santana however was a new vehicle and less than half a year old and yet he wanted to spend a lot of money to fully repaint an expensive new vehicle.
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Wang Xiyuan
The police went to the repair shop and questioned the employees who stated that a man had come in to paint the vehicle red but after the paint job was finished the owner never returned to pick up the car so the employees not wanting to keep it on their property and potentially affect their business drove it to a foothill next to the repair shop and soon led the police to the vehicle which was right where they had left it. The car was in remarkably good shape with no sign of a collision and when they examined the vehicle looking inside, underneath and checking the wheels they found nothing out of place and inside the trunk there was nothing but a few dead leaves. One of the officers however noticed a dark red spot in the middle of one of the leaves which was a different shade of red than the car's paint. It took four attempts but eventually, a blood sample was extracted from the leaf and run for DNA and soon the results came in and rather than the DNA matching Wang it instead matched the deceased meaning that whoever the body was he had been in the trunk of Wang's car. It appeared that the police were right to look into Wang despite the discrepancies not because he was the victim but instead because he was the killer.
​
Police examining the car.
The police initiated a manhunt for Wang while the police looked into his activities starting by pulling his phone records. They found that in January 2010 around the time of the murder Wang had frequently contacted two phone numbers from Tianjin but after the incident, all correspondence had ceased. The Shanghe authorities asked the Tianjin police to track down the phone numbers and they soon got back to them stating that they belonged to two men named Han Baoshan and Han Benli who the police made efforts to track down thinking that they may be Wang's accomplices. Despite the same family name the two were not brothers but still described as having a friendly relationship
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Han Baoshan
Han Benli
The police went to Han Baoshan's house and easily enough that's exactly where he was. He explained that he and Han Benli were fellow villagers and they went to Shandong Province to do some work for Wang but he denied that they had ever taken part in any crime especially not murder. But when they went to Han Benli they saw that he wasn't home nor had he been in months with the police hearing that he had fled with Wang but then the police uncovered some alarming but truly illuminating information. Han Benli's family reported that he had been missing and hadn't been home since he left with Han Baoshan for Shandong with him not even returning or contacting them during the Chinese Spring Festival but that was only the start. Han Benli was 183 cm tall, 32 years old, had a burly build and the last time his family ever saw or had any contact with him was on January 24, 2010. In light of these facts, the police obtained DNA samples from his family and compared them to the corpse and they came back as a match with the body in the well being identified as Han Benli.
The police immediately brought Han Baoshan in for interrogation on July 29 finding it more than curious that he didn't seem to care or report his "good friend" as missing when he went to another province with him only to come back alone. Han Baoshan denied killing or having anything to do with Han Benli's death simply stating that Han Benli went to work elsewhere rather than returning but after the police persisted with their interrogation and showed him Han Benli and Wang's phone records indicating that they both stopped making calls on January 24 he soon broke down and confessed but his confession only complicated the case further.
In September 2009 the two did travel to Shandong to do work for Wang and a woman named Zhang Hongxia that part was true but what was this work exactly? Well as it turned out they were both hired killers with Wang paying them both 100,000 yuan to carry out a hit and the man Wang wanted them to kill was a seemingly innocuous wreath shop owner named Zhang Benling. The two never asked why Wang wanted him dead and instead got right to work. The two were also introduced to Wang by a man named Zhang Chunxiang. Zhang Hongxia and Zhang Chunxiang were also arrested and gave their own confessions. Although the two Hans did not ask for the reason behind the hit Zhang Hongxia and Zhang Chunxiang would explain to the police that Wang was good friends with Zhang Benling who would regularly contribute money to Wang's chicken farm but that he was having an affair with his wife who was Zhang Hongxia and the husband and wife did not get along with Zhang Hongxia even accusing her husband of being a domestic abuser. Eventually, Zhang Hongxia wanted to divorce him but didn't know how to do the legal requirements but also knew that if she and Wang killed him directly they would almost certainly be caught so they decided to do a murder for hire plot.
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Zhang Benling
The two would soon come to find that this humble wreath shop owner would be a harder target to get rid of than they would've ever thought. Their first plan was to simply stage a car accident and made sure to follow him but his parking space was too small, close to the roadside and the narrow space wouldn't give them much space to start up their vehicle and run him down. And to complicate matters further Zhang Benling soon found out he was being followed so he would go to great efforts to be in public places meaning that the two could not strike or shoot him with the guns and axe they had obtained.
The two had help though as Wang's accomplice Zhang Hongxia was the target's wife and would covertly inform the two Hans about his whereabouts and activities and later on Wang told them to change their strategy. In October 2009 the two made a bomb and stealthily loaded it into Zhang Benling's car with the bomb being set on a timer to explode with him inside. And the bomb worked it just didn't kill the target as Zhang Benling when in his car the day it exploded realized that he forgot to buy water so he went back into the store to buy some water and when he left he watched his vehicle explode. Both Hans now had to try again and they attempted to use the bomb strategy but this time instead of a time bomb it would be remotely detonated so in November 2009 they placed another bomb in Zhang Benling's car but this trick was also foiled because Zhang discovered the bomb and quickly got rid of it before it could explode. The two were getting desperate and planned on just striking him with the axe but they were unable to find any trace of him when attempting this plan. Zhang Benling as mentioned was an unremarkable man he just owned a small reef shop, didn't have many social relationships and had no bodyguards to protect himself and yet they couldn't succeed in killing him.
Understandably, Zhang Benling was feeling quite paranoid and told his sister about all that had been going on with his sister asking if he had offended anybody or had business rivals but Zhang couldn't think of anybody who would have such an intense hatred for him. Calling the police was suggested but the two decided against this as Zhang Beling had never been injured yet and there was no real evidence of a crime (I'm guessing the bombs weren't found) and the police were generally not the best at making substantial protection measures so Zhang simply continued his life but under increased vigilance.
Wang as you could guess was not happy with what had been going on as 40,000 yuan had already been wasted on the plot as the two asked for wages and room and board expenses and Zhang Benling wasn't even injured let alone dead. And the two Hans had begun trying to extort Wang threatening that he would expose his plan to have Zhang Benling murdered and the fact that he was an adulterer who had an affair with his friend's wife so Wang relented and increased the reward to 140, 000 yuan. Wang now had to come up with a plan to sow conflict between the two and deal with the extortion problem so Wang would contact the both of them (separately) and gave them a new offer telling them that if they killed their partner in crime then they would get the full reward for killing the partner rather than having to split it between one another for killing the man they had failed to. The two unbeknownst to each other agreed as due to the illegality of what they were doing and with money at stake they worried one may reveal the secret and that it'd also be hard to explain to their families why they returned home with no money and most importantly neither could be sure the other wouldn't turn on them.
On January 24, 2010, While Wang and Zhang Hongxia were at home enjoying some tea both Hans met up in private under the guise of discussing further plans to kill Zhang Benling and the two began their fight although it didn't last long as Han Baoshan struck Han Benli with the axe he had brought killing the other man. Wang was then given a phone call by Han Baoshan and Wang was a bit surprised to hear that he had won due to being the weaker of the two but he soon drove over to the scene with his vehicle and the two loaded Han Benli's body into the truck and drove to the well which Wang already knew of due to being a local. They took off all of Han Benli's clothes and dumped him into the well head first and afterwards dropped the axe into the well along with him. The two then incinerated his clothing. Han Baoshan was paid his 140, 000 yuan and the next day he returned to Tianjian.
Although far more convoluted than they had been expecting the police had solved the case with the exception of Wang still being at large. The trial for Han Baoshan, Zhang Hongxia, and Zhang Chunxiang began in early 2011 and Zhang Hongxia was sentenced to 11 years imprisonment, Zhang Chunxiang's sentence is unknown and Han Baoshan was sentenced to death with two years reprieve with Han Baoshan's sentence being automatically turned over to a higher court for approval as is procedure with death sentences in China. The higher court approved the sentence but because it was a death sentence with reprieve that means if Han Baoshan practiced good behaviour, deeds or didn't break the law in prison his sentence would automatically be reduced to life imprisonment which it was in 2015.
As for Wang he still remained on the run with seemingly no leads as to his identity being found anywhere with there being zero sightings of him and his bank, ID and phone card having never been used since January 2010 and none of his friends, family or business partners had been in any contact with him when questioned by police with them starting to believe that Wang had died while on the run. In October 2012 the police reviewed his phone records one more time and found a text message that had been overlooked. The message was sent to all of his family members and relatives and it said "Brother, I went to hide my debts, and I will come back in two years." however, the text was not written in the local accent and didn't use appropriate customs meaning that the text was sent by somebody else pretending to be Wang. Further investigations also revealed that Wang's chicken farm owed 1 million yuan in debts. It is with this in mind that the police started believing that in another twist of fate Wang may have become a victim of crime as well
The text message.
Despite the debts, the police knew that isn't one of the reasons why Wang fled as nobody ever came to collect and he could still make profits from his farm or even mortgage his new car. If Wang was already dead the police had a likely suspect so they visited Han Baoshan in prison and interrogated him but he denied killing Wang stating that he never returned to Shandong after heading back to Tianjian with the police soon verifying this and ruling him out as a suspect. Something worth noting is that the day of Wang disappearance was an especially bad one as there was heavy snowfall and severe fog which was a rare occurrence in the area.
The police visited Zhang Hongxia in prison but she refused to speak to them believing that they were trying to use her to arrest Wang but when they explained that Wang may be dead and presented their evidence Zhang Hongxia explained that he fled because he was worried about Han Benli's body being found. She explained that after the disappearance she called Wang's brother and came over to help at the farm and then Zhang Hongxia told the police to investigate her husband Zhang Beling as the murderer. Another curious thing was the police managing to secure Wang's mobile phone records and learning that despite disappearing in March his mobile phone was used a single time in June with it being possible the phone was used by mistake. The person who used the phone was named Sun Moumou but due to her physique and stature being much lower than Wang's the police held off on questioning her and instead went to question Zhang Beling.
Zhang Beling was a likely suspect once the police thought about it. He knew about Wang's debts and if he secretly knew about the affair and murder plot at the time he would surely have motive. When questioned Zhang Beling denied any involvement but said something curious when referring to Wang and Han Baoshan "His way of killing was so stupid, how could he have thought of throwing the body there? If it were me I would've dragged them to the cremation ground and burnt them to ashes so that you can't find them" The police were initially going to question Zhang Beling as a formality but now he was their number one suspect.
Zhang Beling was a reef shop owner but he also handled several other affairs in the village such as funeral ceremonies, handling death certificates, and cremation. But to cremate a corpse in China you need to abide by strict guidelines. A hospital needs to issue a death certificate, the village committee needs to issue a relevant application and if it's a suspicious death the police also need to approve. All the bodies cremated locally abided by said procedures so the police began to check neighbouring counties and cities checking their records for March 2010.
They found that at a funeral home in Laoling there was a photocopied driver's license of a corpse transported named Zhang Zhaoqi with the photo looking very similar to Zhang Beling. Despite the possible fake name all the corpses transported were still real deceased people and conducted under the proper procedures but they took Zhang Zhaoqi's fingerprints that the funeral home had on file and also Zhang Zhaoqi's handwriting samples and compared them to Zhang Beling's and they were both a match.
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The fake ID and handwriting sample
The police noticed something odd when comparing the records with one name appearing twice that being somebody named Ding Moujia a 78-year-old man who was cremated in Shanghe County's Funeral Home in November 12, 2009, but strangely enough he would be cremated a second time in Laoling in 2010. When Ding's family were called they confirmed that he had been cremated in 2008. It would appear that his name was used to cover up the destruction of Wang's body. The police were completely baffled at the turn of events as they were now investigating the victim for the murder of the suspect. Although certainly suspicious the police did not arrest Zhang Beling was they still couldn't prove that Wang was dead and they only had him on forged documents and they still couldn't explain how Zhang Beling would've gotten around the regulations.
The police would soon catch a break when they questioned the owner of an auto parts store named Tian Moumou who stated that on March 9, 2010, Zhang Beling's car broke down and he was called in to help and when he did there were two being in the vehicle with the other person being Wang with that meaning that Zhang Beling was the last person to see Wang alive. The police believed the murder took place near the story where Zhang Beling ran the funeral home but by the time they realized this it was near the end of 2012 and Zhang Beling's lease on the building expired in October 2010 and in the meantime the building went through several different owners and renovations meaning that in all likelihood no evidence was left remaining.
Or so they thought, Zhang Beling owned a big wooden sofa chair that he kept in the funeral home and when the building changed owners Zhang Beling insisted that he carry it on his own citing how heavy it was. They made another visit to the prison to question Zhang Hongxia who said that one day she found the cushion was gone and Zhang Beling stated that it had been dirty so he simply threw it away which was unusual due to being in a poor and rural area where most people would wash and reuse the item rather than getting rid of it.
Feeling that there was likely evidence present on it the police began looking for that chair and it was easily found still being in Zhang Beling's home. They cleaned the dust off the chair and began examining it but found nothing so they began removing the wooden stacks to see if any evidence was left behind underneath them and this gambit paid off as the police discovered traces of dried blood and extracted DNA samples from them with the results confirming the blood as belonging to Wang. The police also discovered a driver's license underneath the chair and learnt that Zhang Zhaoqi wasn't an alias but a real person whose identity Zhang Beling had stolen. Zhang Beling was arrested and confessed. The police also learnt that Sun Moumou was the girlfriend of Zhang Beling's accomplice whom he named as Li Wenxi
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Police investigating the chair.
According to his and Li's confession, he and Zhang Hongxia often fought and after a particularly bad one she ran away from home and didn't come back so worried he went to the telecom company to request his wife's call history and found out about all the calls made to Wang and about their affair which cause him to grow enraged and also explained why his phone bill which he had complained about for so long was abnormally high. On March 9, 2010, he invited Wang to his store for an explanation (which is where they were going when his car broke down) and once there (Li was also there) demanded why he had been seducing his wife which resulted in an altercation the two forced him onto the chair and hit him with a wooden stick until he fell unconscious.
They then took him to the back room to wait for him to wake up but when he never did they realized that they had killed him. They then panicked and realized that they needed to get rid of the body so Zhang Beling went to the village committee to explain that he had lost the most recent death certificate and needed it replaced so he was issued a blank certificate which he then filled in with Ding Moujia's information and drove to Laoling with Wang's body.
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The doctored death certificate
Once at the funeral home they presented the forged certificate to the staff who saw it as legitimate and agreed to let them cremate the body. Before throwing his ashes off the Shanhua Bridge and into the Majia River and then sent the fake text message as Wang stating that he fled due to his debts. Zheng Beling stated that he didn't know about the plot to have him killed at the time and felt guilty about what he had done but when the police came to him in July - August 2010 to explain that his wife was arrested for putting a hit on him with Wang as her partner he explained that all of his guilt and remorse disappeared.
Zhang Beling and Li were both put on trial and on April 25, 2014, they were both found guilty of intentional homicide Zhang Beling was sentenced to life imprisonment while Li was given a sentence of 9 years.
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Zhang Beling in court
Sources
https://www.163.com/dy/article/GL5O3ST30552E777.html
https://zhuanlan.zhihu.com/p/163589632
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