Economy

Economy 06/22/22, 18:14

China: Desperate and Reckless marketing, exchanging garlic and wheat for a house China's housing market is gloomy, many cities have announced easing restrictions on sales and prices to encourage people to buy houses. The "wheat for a house" marketing is going viral on Chinese social platforms/media. Reuters cited images of two posters ...

Social problem 06/22/22, 09:25

According to the UN refugee agency's latest statistics, the number of people seeking refugees in the world due to war, violence, and abuse has reached almost 90 millions last year. The number marks an increase of 8% from the year prior and more than double that a decade ago. Although China ...

Economy 06/22/22, 09:21

Three months after receiving approval to start selling vehicles, Evergrande's electric vehicle unit now has its assets seized to compensate lenders for a surprisingly small sum of money.  On June 20, auto column Daoge Talks About Cars reported that a Chinese court issued three foreclosure orders from Evergrande New Energy Vehicle ...

Human Rights 06/22/22, 09:18

Residents demand resumption of work and production after a 2-month lockdown in Liaoning Although the 2-month lockdown in Dandong city, Liaoning was lifted in June, several areas are still under strict regulation. Residents could not stand more lockdowns with no jobs, income, or supplies, so they protested and asked for help ...

Economy 06/22/22, 09:08

A poll by the EU Chamber of Commerce in China on Monday showed that 23% of European firms are considering moving existing or planned investments out of China. Beijing's strict epidemic Zero-Covid is to blame as it is the biggest challenge for European companies doing business in China today.  This is ...

In-depth Reports 06/22/22, 09:02

Apollo News reported that Zhengbang Technology, one of China’s leading pig breeding companies, is falling into a deep debt crisis, with a debt level of up to 97.03% of the company’s net assets. Within the last 15 months, Zhengbang Technology has lost about $3.2 billion. From June 9 to 10, Zhengbang ...

Energy 06/21/22, 08:16

China's oil import from Russia jumped 55% from a year earlier in May, helping Russia pass Saudi Arabia and regain China's top oil supplier after 19 months.  Data from the Chinese General Administration of Customs show that China imported nearly 8.5 million tonnes from Russia in May.  Reuters reported that the discount ...

Opinion 06/21/22, 08:10

Commenting on the fate of China's Belt and Road Initiative, current affairs commentator Wang He told Chinese media Da Ji Yuan on June 17 that the Belt and Road Initiative project would eventually fail. Wang gave three reasons to support his statement. First, China's Belt and Road Initiative causes many problems ...

Economy 06/21/22, 08:07

The U.S Securities and Exchange Commission (SEC) announced on June 15 that the federal court granted the securities governing body final judgment against  traders in China. They were alleged of stock manipulation of over 3,000 U.S.-listed securities and making for more than 31 million dollars of illegal profits. According to the ...

Economy 06/21/22, 08:04

The epidemic outbreak in Shanghai, Beijing, and other places since March had caused a significant impact on the mainland economy. But China's current pandemic control policy is a “tragedy of the commons” phenomenon. The current method isn’t practical in balancing between controlling the pandemic and maintaining economic growth. That are remarks ...

Economy 06/21/22, 08:02

After a strenuous lockdown period, Shanghai allegedly urges financial aid to carry out the Zero-Covid policy, adding to speculation that the city’s financial health is being pushed to the brink because of strict pandemic measures. On June 7, a document from the Shanghai Municipal State-owned Assets Supervision and Administration Commission, or ...

Economy 06/21/22, 07:53

Zambia is being considered the next victim of China's Belt and Road. According to the South China Morning Post, this country has suffered a financial crisis, with foreign debts as high as 17.3 billion US dollars, and China is the first creditor.  Zambia has approved many investment projects from China's Belt ...

Economy 06/20/22, 22:49

The real estate market in China is still mired in a quagmire as the economy is in jeopardy. A spokesman for China’s National Bureau of Statistics said there had been some positive changes in the real estate market in recent surveys. However, the latest data shows that the property market is ...

Economy 06/20/22, 11:27

*ST Haiyi, formerly Lanhai Medical, faces delisting risk after it has been suspended from trading on the Shanghai Stock Exchange since early May. The company and its chairman Mi Chunlei are now under scrutiny from the market. According to Sina Finance, *ST Haiyi is an A-share listed company. On May 5, ...

Human Rights 06/20/22, 10:22

More than 400.000 people could not withdraw their deposits in 6 rural banks in Henan and Anhui provinces of China, with savings reaching up to 180 million dollars. Two months have now passed, and the investigation is going nowhere. Furthermore, several bank depositors' health codes have suddenly turned red in recent ...

Human Rights 06/20/22, 09:20

On June 16, Guangdong Amethyst Information Storage Technology Co. Ltd. (*ST Amethyst) issued an announcement to file a lawsuit against a bank at the Intermediate People's Court of Sanmenxia City, Henan Province. The lawsuit is about a dispute over the savings deposit contract between the company and Henan Lushi Rural ...