China’s weird ideas in desperate bid to save real estate sector

Economy 07/15/22, 03:01

Desperate to rescue the housing market, Chinese authorities have devised many strange ideas. From giving discounts to accepting garlic as a downpayment, they recently issued bulk buying houses.  Since June, many places in Shanxi, Guangdong, Liaoning, Anhui, and Hubei have implemented policies related to group buying. The government encourages agencies, state-owned ...

Shanghai roasted in rare record heat sporadically emerging since 1873

Anomalies 07/15/22, 02:59

As scorching heatwave advances in multiple places across China, Shanghai on July 13 was seared under a rare temperature height barely observed over the past century. China Weather Network reported that the temperature for Xujiahui Station in Shanghai reached 40.9 degrees celsius as of 2:30 p.m. on July 13. The corresponding ...

Experts comment on Taiwan’s Vice President visit to Japan

Opinion 07/15/22, 02:55

Former Prime Minister Abe was assassinated at noon on July 8 and died a few hours later. On July 11, Taiwan's Vice President, Lai Ching-te, went to Tokyo to offer condolences.  Lai became the highest-ranking Taiwanese serving official visiting Japan in 37 years. Shinzo Abe was said to be a hardliner on ...

‘Passports cut’ circulates on social media

Human Rights 07/15/22, 02:53

Recently, “passports cut” has been circulating on social platforms; however, some border inspection agencies have refuted the rumors. On July 10, a Twitter user “Gao Jian” @gaojian2010 posted a picture of a passport with a corner cut off by border guards. He left a caption saying that customs do not cut ...

5 mysteries in Henan Bank fraud

Economy 07/15/22, 02:50

China Banking and Insurance Regulatory Commission, Henan office announced their advance payment plan on July 11 to quell public discontent. However, there are still 5 doubts about the incident that have not been revealed. In the announcement, Henan authorities stated the first payment would start on July 15 for customers of ...

China dissolves more rural banks, experts reveal behind the scene

Opinion 07/15/22, 02:48

According to Da Ji Yuan interview, small and medium rural banks face various pressures. Apart from dissolution, Chinese regulators also issued merger orders for many banks. Experts claimed the act was to cover their operation's failure. The Hebei Banking and Insurance Regulatory Bureau disbanded Wuqiang Jiayin and Fucheng Jiayin Rural banks ...

Flash flood hits Mianyang City, 109 people rescued

Disasters 07/15/22, 02:44

On July 12, heavy rainfall occurred in Pingwu County, Mianyang City, Sichuan Province, causing flash floods and mudslides.  Video on the media showed that the fast-flowing flood water flooded the house, and trapped people had to reach higher floors to wait for rescue. The flood affected three villages: National Village, Heping Village, ...

Taiwanese iPhone assembler pumps $1.45 billion into China’s state-backed chipmaker

Tech 07/15/22, 02:42

Taiwan’s Foxconn Industrial Internet (FII) is injecting over $1.45 billion into China’s debt-laden semiconductor giant Tsinghua Unigroup. Considering the current cross-strait crisis, it’s an unusual move. FII is an affiliate of the famed Taiwanese foundry giant Hon Hai Group, a key Apple supplier globally.  Tsinghua Unigroup is a large conglomerate established by ...

China’s triple crisis: Manufacturing, real estate and fiscal —expert says

Opinion 07/15/22, 02:28

China's economy is struggling to recover after prolonged Covid lockdowns that hit major sectors.   Xie Tian, a professor at the Aiken School of Business at the University of South Carolina, told VOA that China is facing three major crises: manufacturing contraction due to the Covid control policy, financial distress, and real ...

China’s economy on the edge, is a meltdown coming?

Economy 07/15/22, 02:23

After a lengthy period of lockdowns and strict enforcement of the "zero covid" policy in many provinces and cities, the property market has frozen in China. Besides, the wages in many places have decreased, another indicator showing the Chinese economy has fallen into crisis. According to Bloomberg, the Citigroup analysis team ...

A series of people were arrested, fined, warned for not doing compulsory PCR test

Insights 07/14/22, 17:22

Tianjin obliges nucleic acid testing. 123 citizens warned for not testing Within eight days, seven cities in China, including three major cities, Beijing, Shanghai, and Tianjin, reported a highly infectious mutant strain of Omicron BA.5. The Chinese regime continues to increase pressure for compulsory nucleic acid testing or PCR. Sina reported that on July 6, a ...

Shanghai disputes lockdown claims, but many think otherwise and prepare

News 07/14/22, 16:45

The COVID-19 outbreak in Shanghai has recently accelerated, with dozens of local positive cases being found daily. High-risk zones have reached 211 locations in 14 counties. On July 11, two neighborhood groups suggested that residents "save food and essentials for around 14 days," generating widespread concern. According to Xiao Xiao Morning News, ...