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Facebook IPO honeymoon over

A television photographer shoots the Like sign outside of Facebook headquarters in Menlo Park, Calif., Friday, May 18, 2012. Facebook CEO Mark Zuckerberg symbolically opened trading on the Nasdaq stock market inside Facebook headquarters in Menlo Park. Facebook stock is starting trading today, available to the general public for the first time. The social networking site, which was started in a college dorm room eight years ago, would be valued at more than $100 billion according to the price set for shares ahead of today's trading. (AP Photo/Paul Sakuma)

All that hype for a 23-cent gain! Facebook's (FB) first day as a publicly traded company started with a bang and ended in a wimper.

Chinese Tycoon Gets Life Sentence for Smuggling
Lai Changxing, a peasant-turned-billionaire, was given a life sentence on Friday for his role in a corruption scandal, according to the state news media.

China embassy in US cold-shoulders Tiananmen leader

Wu'er Kaixi, who now lives in Taiwan, wants to see his frail and aging parents in Urumqi, northwest China

One of the exiled leaders of the Tiananmen Square protests in 1989 got the cold shoulder from the Chinese embassy in Washington when he tried to turn himself in to return home.

China pursuing steady military build-up: Pentagon

The gun of Chinese missile destroyer Haikou (171), pictured in Hong Kong

China is exploiting Western commercial technology, conducting aggressive cyber espionage and buying more anti-ship missiles as part of a steady military build-up, according to the Pentagon.

Pentagon Study Says China Military Getting Stronger
The annual appraisal of China’s military modernization also suggests Beijing leaders want to project power while avoiding confrontation with neighbors and the United States.

Saturday, May 19, 14:37 (CST)

I N S I D E C H I N A

Video: Rude Laowai arguing with Chinese on a train
Yet another for our “Bad Laowai” category. From Shanghaiist: A video now going viral on iFeng.com shows a white blonde male putting his feet over the seat before him and a Chinese female passenger’s head on a train from Shenyang to Beijing. It is not clear what happened before the start of this video, but [...]