China’s real estate crisis: Young house buyers dare not marry

Economy 07/28/22, 03:32

The crisis of mortgage payments in China has left some young people afraid to start a relationship, get married, and create a business. In China, a young man often considers owning a house a necessity before getting married. But the property bust has sent shock waves through the country’s middle class. Many ...

Evergrande to launch debt restructuring proposal, could be a model to follow

Economy 07/27/22, 00:34

According to Reuters, China's real estate giant Evergrande will release its debt restructuring proposal this week. The plan will not only decide the company's future but also signal Beijing how to overcome the ongoing real estate crisis in the country. Evergrande is the world's most indebted business, with about 300 billion ...

Chinese messaging app Feition stops service after 15 years

Economy 07/27/22, 00:31

Chinese messaging system Feition is ceasing services after 15 years of operation, bidding goodbye to its massive collection of over hundreds of million registered users. In a statement on July 15, developer China Mobile announced that the system would stop working by September 30. Users' information would be removed at an ...

EBay China closing after 23 years of operation

Economy 07/27/22, 00:25

Apollo News, on July 24, reported that former Chinese e-commerce giant eBay announced the closure of all its services due to adjustments in operations strategy.  According to the announcement, on August 12, the company will terminate all functions related to online transactions, including registration, login, and recharge, and then close down ...

Will 44 billion dollars be enough to rescue Chinese real estate?

Economy 07/27/22, 00:24

China created a dedicated fund to support the heavily indebted sector, which has been lurching from one crisis to another. However, will this fund alone be enough to solve the problem? Larry Hu, the chief China economist at Macquarie, said, "I believe the fund would be part of the bigger package ...

Chinese largest real estate project in UK terminated

Economy 07/26/22, 03:28

Xin Tang Ren News reported that a little-known Chinese company named ABP has overcome several bidders and won a special London government-approved project.  The largest greenfield project named "ABP Asia Business Port" was signed by ABP with then London Mayor Boris Johnson in 2013. It is also considered an important project ...

Business owners in China suffer mental breakdowns

Economy 07/25/22, 02:21

According to Radio Free Asia, in early May, a phone survey on business confidence among small and medium-sized companies in Shanghai showed a negative atmosphere, with 89% of business owners losing confidence or wanting to shut down. The Chinese regime’s ‘zero COVID’ policy took a hefty toll on the country’s ...

China’s ‘iron brother’ to be the next ‘Sri Lanka’

Sri Lanka 07/25/22, 02:20

China Global Television Network reported that Chinese President Xi Jinping hailed relations between China and Pakistan as an "iron brotherhood." Two nations have always been each other's trustworthy "iron brother" regardless of the international landscape's changes. China Institue of International Studies shows that Pakistanis describe friendship between the 2 countries as ...

Governor stops Chinese buyers taking over Florida property

Economy 07/25/22, 00:39

In an interview with ‘The Ingraham Angle,’ Florida Governor Ron DeSantis signed laws to limit China from buying up large amounts of property in the Sunshine State and stop undue influence from rogue governments, such as the CCP.According to the National Association of Realtors (NAR), Florida remained the top destination ...

Struggling Chinese developers reluctant to file for bankruptcy

Economy 07/25/22, 00:39

Many home buyers in China have suspended the repayment of bank loans for unfinished buildings.  The turmoil in the real estate market has intensified as a group of suppliers of China Evergrande Group in Hubei Province have recently stopped paying loans issued to them by local banks. Many people are wondering why ...