17 major Chinese real estate firms have stocks fall more than 50%

China 12/07/21, 15:22

More than a dozen major real estate firms in China have seen their stocks nosedive, according to a report. There are more than 30 real estate companies worth over $30 billion in China. 17 of them have had their stocks drop more than 50%, compared to the peak in 2018. Throughout this ...

Why are Chinese companies forced to withdraw from the US?

China 12/07/21, 04:02

The U.S. Securities and Exchange Commission announced on Dec. 2, that companies listed in the United States must prove whether they were owned and controlled by government entities and provide evidence for an audit inspection. Bloomberg said the final plan of the "Foreign Corporate Liability Act" requires foreign companies to disclose ...

Evergrande founder sells Hollywood Hills mansion at loss

China 12/07/21, 03:45

Chinese billionaire Xu Jiayin, founder of Evergrande—China’s largest real estate developer, faces Evergrande’s bond defaults. Earlier, the media reported that the Chinese Communist Party asked Xu Jiayin to use his assets to ease Evergrande’s debt crisis. After selling much of his personal property in Hong Kong, Xu Jiayin continued to sell ...

After iQiyi, a wave of layoffs in the internet industry sweeps over China

China 12/06/21, 23:04

Beijing authorities closely monitor the internet, games, advertising, and other areas. The online world in China has become more challenging than ever. News of Layoffs’ by companies such as Tencent, Alibaba, Byte, and iQiyi are stressing out many office staff, causing them to “Prepare for rainy days.” According to a report ...

More nationalization is coming to China’s property industry

China 12/06/21, 19:07

China's private homebuilders may find it challenging to maintain their anonymity for much longer. Evergrande, the country's most indebted developer, has acknowledged the possibility of a legal default. However, officials are under pressure to keep the sector from imploding without bending their hard line on debt levels, with $10 billion in ...

US upsets the CCP with a diplomatic boycott of the Games

Opinion 12/06/21, 18:42

The Biden administration announced today they will carry out a diplomatic boycott of the Olympic Games in Beijing 2022. Although it only implies that no U.S. official will go to the event, the gesture of the American government will have a profound impact on the image of the Chinese Communist ...

‘You are a heretic!’ Greek Orthodox priest berates Pope Francis

Europe 12/06/21, 16:44

Pope Francis met with authorities of the Orthodox Church in Greece during the weekend of December 4. When he was entering the establishment where the meeting was to take place, an extremely uncomfortable situation arose when one of the veteran priests rebuked him and accused him of being a "heretic." Francis ...

‘Dark ash thick clouds’: Indonesian volcano eruption kills 13

World 12/06/21, 16:27

After a rapid eruption prompted by heavy rains on Saturday, Dec. 4, Mount Semeru in Lumajang district, East Java province, Indonesia, blasted thick columns of ash of more than 40,000 feet (12,000 meters) into the sky, and burned gas and lava streamed down its slopes, several settlements were engulfed in ...

Behind iQiyi’s layoff: Losing money over time, decreasing number of users

China 12/06/21, 16:20

The big news in the tech industry these days is nothing other than the recent layoffs at iQiyi, a Chinese streaming platform based in Beijing and Shanghai. According to Apollo News, iQiyi's layoffs involve most departments and most of them were at the director-level and high-paid employees. IQIYI is the first of ...

Report: China monitors students on US campuses

China 12/06/21, 16:03

Even as Chinese students arrive in the free world, such as the United States, it does not mean they are safe from authoritarian control back in China. Zhihao Kong, a student at Purdue University in Indiana, is an example of how the Chinese Communist Party (CCP) subdues mainland voices against it ...

Another European delegation visiting Taiwan

Politics 12/06/21, 15:49

As Taiwan's central news agency said on Dec. 3, a group led by Slovak Economy Minister Karol Galek will visit Taiwan from Dec. 5 to 10.Then, he will host the first ministerial-level economic and trade consultative meeting between Taiwan and Slovakia.As previously said in October of this year, Taiwan has ...

China asks Didi to delist from US, SoftBank Group stock drop more than 2%

China 12/06/21, 15:40

Chinese online ride-sharing company Didi Chuxing announced on Weibo on December 3rd that it has begun withdrawing from the US stock market. A Didi investor at its headquarters in Beijing told the Financial Times that it is unlikely that any significant shareholder would oppose the delisting. Major shareholders such as SoftBank, ...