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☆ China's property sector needs more government support as crisis deepens
▼ + stars: | 2023-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — China's property market, which makes up a substantial chunk of the country's economy, needs more government support to prevent it from deteriorating further, analysts said. UBS analysts estimated that real estate and related sectors now account for about 22% of China's gross domestic product, down from around 25% levels seen in recent years. However, real estate behemoth Country Garden still ended up defaulting on a U.S. dollar bond last month, according to Bloomberg News. "China's property sector has yet to bottom out," the report said. "Markets appear to have been a bit too optimistic about the property stimulus policies over the past two months."

Persons: Qilai Shen, Larry Hu, Nomura Organizations: Bloomberg, Getty, BEIJING, Macquarie, UBS, U.S, Bloomberg News, Developers Locations: Nanchuan, Xining, Qinghai province, China, Beijing

☆ Embattled Chinese property firm Evergrande up 20% after trading resumes in Hong Kong
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Evergrande's market valuation has been hovering around 5 billion Hong Kong dollars ($639.8 million), a fraction of its value prior to the developer's default in late 2021. The stock rose 20.31% after briefly touching 46 Hong Kong cents shortly after the open. Other Hong Kong listed property stocks were firmly in the red. Country Garden Holdings plunged 7.67%, while Longfor Group Holdings lost 4.82%. China's property market has faced faltering consumer confidence, with Evergrande and Country Garden steeped in debt problems.

Persons: Hui Ka Yan, Evergrande Organizations: Hong Kong, Company, Hong, Garden Holdings, Longfor, Holdings, Henderson Land Development Locations: Nanchuan, Xining, Qinghai province, China, Hong Kong

☆ The world’s biggest national park is larger than most countries
▼ + stars: | 2023-09-12 | by ( Joe Yogerst | ) edition.cnn.com time to read: +8 min

Sagarmatha National Park in Nepal safeguards the southern slopes of Mt Everest, the world’s highest peak at 8,849 meters (29,032 feet). Venezuela’s Canaima National Park is home to Angel Falls, the world’s tallest waterfall at 979 meters (3,212 feet). Larger than Delaware and roughly the same size as Wales, Yellowstone was considered huge when it became the world’s first national park in 1872. North AmericaSprawling across nearly half of the world’s largest island, Northeast Greenland National Park is currently the globe’s single largest national park and biggest land-based protected area. Imaginechina Limited/Alamy Stock PhotoDespite being the largest continent, Asia has fallen behind in the race for the world’s largest national parks.

Persons: Venezuela’s, there’s, ”, Mette Pike Barselajsen, Mercedes, China’s, Martin Harvey, Naukluft, it’s, Claire Christian Organizations: CNN, National, United Nations, Nanu, South America, Colombia Oculta, Simpson, Mercedes Benz G, Imaginechina, Bank, Getty, Conservation, Antarctic & Southern Ocean Coalition, Antarctic Locations: Nepal, Mt, Angel Falls, Angkor, Cambodia, Delaware, Wales, Yellowstone, North America, Greenland, Ittoqqortoormiit, “, East Greenland, South, Patagonia, Colombia, Australia, South Australia, Asia, Qinghai Province, Europe, Africa, Africa’s, Zambia, Zimbabwe, Mozambique, Angola, Namibia, Antarctica

☆ China approves 17 bln yuan hydro power plant in Qinghai province
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Jan 2 (Reuters) - China Energy Investment Corporation said on Monday China's National Development and Reform Commission in Qinghai province has approved a hydro power plant worth 17 billion yuan ($2.46 billion) on Dec. 30 in the province. The plant is a so-called pumped storage hydropower facility that is used to pump water from a lower reservoir to an upper reservoir during periods of high electrical demand. The plant will start full production in 2028. ($1 = 6.8972 Chinese yuan)Reporting by Beijing Newsroom; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ China reports third consecutive daily record for new Covid cases
▼ + stars: | 2022-11-26 | by ( ) www.cnbc.com time to read: +1 min

That compared with 32,943 new cases a day earlier – 3,103 symptomatic and 29,840 asymptomatic infections, which China counts separately. Excluding imported cases, China reported 34,909 new local cases on Friday, of which 3,405 were symptomatic and 31,504 were asymptomatic, up from 32,695 a day earlier. Chongqing, a southwestern city of 32 million people, reported 7,721 new local cases for Friday, a jump of almost 20% from the previous day. Guangzhou, a prosperous city of nearly 19 million people in southern China, reported 7,419 new local cases for Friday, down slightly from 7,524 cases a day earlier. New local cases for Friday in the capital Beijing jumped 58% to 2,595, according to figures released by local health authorities on Saturday.

☆ China reports third consecutive daily record for new COVID cases
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +1 min

☆ China COVID cases surge to 6-month high as tensions in affected cities build
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +4 min

Almost three years into the pandemic, China has stuck to a strict COVID-19 containment policy that has caused mounting economic damage and widespread frustration. Curbs and lockdowns became more frequent with the spread of the highly transmissible Omicron strain. China has yet to describe when or how it will begin to exit from its current approach. Earlier this week, Chinese shares jumped after rumours that China was planning a reopening from strict COVID curbs in March. Domestic tensions have steadily built this year as the endless curbs, restrictions and lockdowns fuelled unhappiness.

Xi Jinping consolidated his power in China with a reshuffle of the politburo standing committee. He also used the event to unveil the new members of the politburo standing committee. He is a new entry to the standing committee, and at 60, is its youngest member. He is another new member of the politburo standing committee and will help lead the central commission for discipline inspection. He previously worked as the party leader in Yan'an, which once served as the headquarters of the party before it took control of the whole country.

☆ Chinese cities tighten curbs against widening COVID outbreaks
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 27 (Reuters) - Chinese cities from Wuhan in central China to Xining in the northwest are doubling down on COVID-19 curbs, sealing up buildings, locking down districts and throwing millions into distress in a scramble to halt widening outbreaks. Wuhan, site of the world's first COVID-19 outbreak in late 2019, reported around 20 to 25 new infections a day this week. Nevertheless, local authorities ordered more than 800,000 people in one district to stay at home until Oct. 30. Other large cities across China including Zhengzhou, Datong and Xian have implemented new curbs this week to rein in local outbreaks. China has repeatedly vowed to stick to its zero-tolerance response to COVID-19 and implement what the authorities say are necessary measures to contain the virus.

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