Shanghai developer’s properties auctioned to settle $94 million debts

Economy 02/13/22, 16:19

Two sets of properties in Shanghai's Central Mansion property were auctioned off, according to the Chinese-language media Da Ji Yuan, on Feb. 8. Eight additional luxury homes will be auctioned off over the next ten days. According to reports, the properties were auctioned to repay the developer's debts. The Times Financial ...

China real estate companies’ financing fell by 70% in January

Economy 02/13/22, 16:07

According to the monitoring data released by the China Index Research Institute on Feb. 9, the total financing of real estate enterprises in January 2022 was $12 billion, a year-on-year decrease of 70.3% and a 16.6% month-on-month decrease. The China Index Research Institute said that continuing a downward trend that began ...

Beijing issues new rules to scrutinize cash flows

Economy 02/13/22, 15:32

According to Nikkei Asia, starting March 1st, the Chinese authorities will require more customer information when a deposit or withdrawal of more than $7,870 at one time. Individual customers who want to do the transaction must clarify the origin of the money and its use. Similarly, the requirements will apply to ...

The Chinese regime issues 3 statements regarding ‘Xuzhou mother-of-eight’ case

Human Rights 02/13/22, 03:34

The "Xuzhou mother-of-eight" case reflects China's terrible human trafficking situation, which has shocked the international community. However, Chinese officials subsequently issued statements to whitewash the case, which aroused widespread public criticism.  Previously, the footage posted online late last November showed a woman surnamed Yang, chained by the neck in a small ...

Chinese regime uses sports to maintain political stability

Insights 02/13/22, 03:26

The Beijing Winter Olympics are halfway over, and international doubts are increasing. China Youth Daily's former senior sports reporter Guo Jun from the United States said on Feb. 8 that the Chinese regime is using sports to maintain the stability of its authority. First, the Chinese regime bought the rights to host ...

China falls short of trade deal purchase promises, US think tank reveals

Economy 02/12/22, 19:56

According to a recent report looking at the effectiveness of the two-year trade deal linked under the Trump administration, China "purchased none" of the additional 200 billion dollars in exports promised under the phase one agreement.  The report, titled "China bought none of the extra $200 billion of U.S. exports in ...

Two high-ranking officials in Shanxi Province expelled on same day

Insights 02/12/22, 19:50

According to the State Supervisory Commission of the Central Commission for Discipline Inspection of the Chinese Communist Party, China Government expelled Xu Qing from the party and public office, former member of the party group and deputy mayor of Yinchuan City Government in Ningxia Hui Autonomous Region on February 9. Xu ...

Kamila Valieva, first doping case at Beijing Winter Olympics

Insights 02/12/22, 18:04

According to the International Testing Agency (ITA), Kamila Valieva, a 15-year-old Russian tipped to win her country's third consecutive Olympic gold medal in women's figure skating, tested positive for drugs on Feb. 8. On Wednesday, Feb. 9, the Russian daily RBC said Valieva tested positive for trimetazidine, a metabolite prescribed to ...

Former Olympian reveals ‘secret tactic’ of Chinese regime

Insights 02/12/22, 17:36

At the Winter Olympics in Beijing, many controversies have erupted against the host country China. For example, the disqualification of several athletes for "non-compliance with the dress code," several cases of unfair decisions by the judges, and the suspicion that Chinese athletes have caused other athletes to fall during the ...

Jianye Property Group might lay off 61% of its workforce

Economy 02/12/22, 16:52

According to a Jianye Group internal announcement obtained on Feb. 10, the company plans to streamline its departments, keeping around 410 staff, a reduction of more than 650 people, or 61.2%. Its property sales have declined since July 20, with sales and returns reduced by nearly $470 million compared to its ...

Hershey Chocolate refutes withdrawal rumors from Chinese market

China 02/12/22, 16:39

Multiple news media such as Beijing Business Daily, China Fund News, and Caixin.com reported that Hershey has stopped offering products on Chinese e-commerce platforms Tmall and Jingdong. In addition, many of its offers on JD.com were also out of stock. This has raised speculations that the U.S.-based chocolate brand was joining ...

China’s ed-tech crackdown expands to high-school tutoring

Insights 02/12/22, 16:16

Beijing's crackdown on for-profit tutoring online has expanded to high-school education and will lead to further capital losses in the private education tech sector. The 100 billion-dollar industry has suffered significant damage from last year's purge. According to BloombergQuint, ed-tech companies will have to postpone their services to high school students ...

3 reasons why China closed 7,600 car dealerships in two years

Economy 02/12/22, 15:47

The rapid rise of the automotive industry generated a big market for 4S dealerships in China, which shorts for Sales, Service, Spare parts and Surveys, or customer feedback. 4S dealers gained traction in China over twenty years ago for offering world-class service, well-trained employees, and quality customer support. These stores were ...

China’s Zhenro Properties Group shares plummet 81%

Economy 02/12/22, 15:21

Zhenro Properties Group's shares keep hitting new lows as concerns about the news that the company won't buy back a heavy load of $200 million bonds next month.  The Shanghai-based property developer shares fell as much as 66.4%, and shares in its property services unit plunged 57.7% on Thursday. However, Zhenro ...