From China Digital Space
This term originates from an incident in Hangzhou on May 7, 2009 when Hu Bin, driving a Mitsubishi sports car, ran over Tan Zhuo as he was crossing the street at a crosswalk. In the police report, officers wrote that Hu’s car was moving at “about 70 kph.” (Note: they used the informal word “码” for kph.) This ignited controversy, as onlookers believed the car was traveling at least 100 kph. Additionally, the driver of the car was a member of the rich second generation, while the victim was a young college student from a working class family. This led netizens to suspect that the driver’s wealth influenced the police report, and prompted them to let loose their built-up resentment towards those who use their wealth and government connections for personal gain. Perhaps because of the public outcry or the circumstances of the accident (the collision caused Tan Zhuo to fly five meters high and twenty meters forward), the police department changed its estimate of Hu Bin’s speed to 100 KPH, prosecuted him for being responsible for a traffic accident, and sentenced him to a three year jail term.
The event is parodied in the viral video War of Internet Addiction, in which the speedometer of one character's motorcycle is designed to never display a speed higher than 70 kph. This incident also inspired netizens to add the horse of deception to the pantheon of mythical creatures.