Xixian Cultural and Tourism Diverts Over 100 Million Yuan from Special-Purpose Bonds, Leaving Project Idle for Nearly Two Years

Deep News

Aug 18

Xixian International Cultural and Education Park Phase II shantytown renovation project, which was approximately 60% complete by Shaanxi Seventh Construction Group, has been halted since September 2024. The client, Xixian Cultural and Tourism Group, previously requested the return of over 124 million yuan, but an investigation later confirmed that special-purpose bond funds had been misappropriated, resulting in accountability measures against relevant officials.

In April 2025, Shaanxi Seventh Construction Group filed a lawsuit against Xixian Cultural and Tourism Group. By November 2025, a first-instance court ruling ordered Xixian Cultural and Tourism Group to pay more than 39.67 million yuan in project progress payments, along with interest for the delay. Despite winning the lawsuit, the construction company has yet to receive the owed funds and is urging repayment so that work can resume.

A staff member from Shaanxi Seventh Construction Group, surnamed Du, stated: "Our primary demand is to have our project funds released promptly so that all workers can maintain a normal livelihood. Our second demand is for the misappropriated special-purpose bonds to be returned so that this project can be completed successfully."

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.gotigerhk.com/news/1116629349"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1116629349\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1116629349?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-08-18 11:50","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1116629349","market":"nz","top_or_hot":-1,"title":"Xixian Cultural and Tourism Diverts Over 100 Million Yuan from Special-Purpose Bonds, Leaving Project Idle for Nearly Two Years","media":"Deep News","content":"<p><b>Xixian International Cultural and Education Park Phase II</b> shantytown renovation project, which was approximately 60% complete by <b>Shaanxi Seventh Construction Group</b>, has been halted since September 2024. The client, <b>Xixian Cultural and Tourism Group</b>, previously requested the return of over 124 million yuan, but an investigation later confirmed that special-purpose bond funds had been misappropriated, resulting in accountability measures against relevant officials.<br><br>In April 2025, <b>Shaanxi Seventh Construction Group</b> filed a lawsuit against <b>Xixian Cultural and Tourism Group</b>. By November 2025, a first-instance court ruling ordered <b>Xixian Cultural and Tourism Group</b> to pay more than 39.67 million yuan in project progress payments, along with interest for the delay. Despite winning the lawsuit, the construction company has yet to receive the owed funds and is urging repayment so that work can resume.<br><br>A staff member from <b>Shaanxi Seventh Construction Group</b>, surnamed Du, stated: \"Our primary demand is to have our project funds released promptly so that all workers can maintain a normal livelihood. Our second demand is for the misappropriated special-purpose bonds to be returned so that this project can be completed successfully.\"</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xixian Cultural and Tourism Diverts Over 100 Million Yuan from Special-Purpose Bonds, Leaving Project Idle for Nearly Two Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXixian Cultural and Tourism Diverts Over 100 Million Yuan from Special-Purpose Bonds, Leaving Project Idle for Nearly Two Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-08-18 11:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Xixian International Cultural and Education Park Phase II</b> shantytown renovation project, which was approximately 60% complete by <b>Shaanxi Seventh Construction Group</b>, has been halted since September 2024. The client, <b>Xixian Cultural and Tourism Group</b>, previously requested the return of over 124 million yuan, but an investigation later confirmed that special-purpose bond funds had been misappropriated, resulting in accountability measures against relevant officials.<br><br>In April 2025, <b>Shaanxi Seventh Construction Group</b> filed a lawsuit against <b>Xixian Cultural and Tourism Group</b>. By November 2025, a first-instance court ruling ordered <b>Xixian Cultural and Tourism Group</b> to pay more than 39.67 million yuan in project progress payments, along with interest for the delay. Despite winning the lawsuit, the construction company has yet to receive the owed funds and is urging repayment so that work can resume.<br><br>A staff member from <b>Shaanxi Seventh Construction Group</b>, surnamed Du, stated: \"Our primary demand is to have our project funds released promptly so that all workers can maintain a normal livelihood. Our second demand is for the misappropriated special-purpose bonds to be returned so that this project can be completed successfully.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BNDW","symbol_name":"Vanguard Total World Bond ETF","start_time":0,"source_url":"","article_id":"1116629349","we_media_id":"1039043262","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1116629349","pubTimestamp":1787025035,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Deep News","introduction":"Global Stock Market Deep Analysis","home_visible":1,"id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"summary":"Xixian International Cultural and Education Park Phase II shantytown renovation project, which was approximately 60% complete by Shaanxi Seventh Construction Group, has been halted since September...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BNDW":"Vanguard Total World Bond ETF"},"translate_title":"西咸文化和旅游从特殊目的债券中转移了1亿多元，使项目闲置了近两年","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BNDW":1},"content_text":"Xixian International Cultural and Education Park Phase II shantytown renovation project, which was approximately 60% complete by Shaanxi Seventh Construction Group, has been halted since September 2024. The client, Xixian Cultural and Tourism Group, previously requested the return of over 124 million yuan, but an investigation later confirmed that special-purpose bond funds had been misappropriated, resulting in accountability measures against relevant officials.In April 2025, Shaanxi Seventh Construction Group filed a lawsuit against Xixian Cultural and Tourism Group. By November 2025, a first-instance court ruling ordered Xixian Cultural and Tourism Group to pay more than 39.67 million yuan in project progress payments, along with interest for the delay. Despite winning the lawsuit, the construction company has yet to receive the owed funds and is urging repayment so that work can resume.A staff member from Shaanxi Seventh Construction Group, surnamed Du, stated: \"Our primary demand is to have our project funds released promptly so that all workers can maintain a normal livelihood. Our second demand is for the misappropriated special-purpose bonds to be returned so that this project can be completed successfully.\"","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}