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☆ Young Chinese are trading Shanghai for small cities. Brands like KFC are following them with thousands of stores.
▼ + stars: | 2024-04-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . They're struggling to make it in big cities as the world's second-largest economy suffers from a flailing property market and slow post-pandemic consumption recovery. Going big on smaller citiesChina's smaller cities aren't exactly an untapped market. KFC and Pizza Hut operator Yum China, which plans to add 6,000 stores in China by 2026, is also betting big on small cities. AdvertisementThe cost of living crisis driving young people out of China's big cities is a trend that echoes across continents.

Persons: —, MetroDataTech, They're, Joey Wat, DPC, Canyandata Organizations: Migrants, Service, KFC, Bloomberg, Starbucks, Yum Locations: megacities, Shanghai, Shenzhen, MetroDataTech, China, Beijing, —, Yum China, Local, Fuzhou, Korea, New York City, London

☆ Mexico City may be just months away from running of out water
▼ + stars: | 2024-02-25 | by ( Laura Paddison | Jack Guy | ) edition.cnn.com time to read: +11 min

Mexico City CNN —Alejandro Gomez has been without proper running water for more than three months. Historic lowsDensely populated Mexico City stretches out across a high-altitude lake bed, around 7,300 feet above sea level. The Cutzamala water system, a network of reservoirs, pumping stations, canals and tunnels, supplies about 25% of the water used by the Valley of Mexico, which includes Mexico City. She and her family often have to pay more than $100 for a tank of water from one of the city’s water trucks. “I don’t think anyone is prepared.”CNN’s Laura Paddison and Jack Guy reported from London, and Fidel Gutiérrez reported from Mexico City.

Persons: Mexico City CNN — Alejandro Gomez, Gomez, ”, Christian Domínguez Sarmiento, Jose Alfredo Ramirez, Cesar Rodriguez, it’s, It’s, Fabiola Sosa, ” Germán Arturo Martínez Santoyo, Raquel Cunha, Garcia, Becerra, La Niña, El Niño, UNAM’s Sarmiento, Conagua, Andrés Manuel López Obrador, Martí Batres Guadarrama, Sosa, Rodríguez, “, Henry Romero, Márquez, doesn’t, ‘, ” Sosa, Amanda Martínez, Laura Paddison, Jack Guy, Fidel Gutiérrez Organizations: Mexico City CNN, CNN, Authorities, National Autonomous University of Mexico, Bloomberg, Getty, Metropolitan Autonomous University, Reuters, University of Northern, Local, Mexico City’s, Cape Town, Advisory, Mexico City Locations: Mexico, Mexico City’s Tlalpan, doesn’t, Mexico City, UNAM, Tenochtitlan, Spanish, Conagua, Cutzamala, Villa, Villa Victoria, University of Northern British Columbia, Iztapalapa, South Africa, Tlalpan, London

☆ Saudi Arabia goes big in Davos as it looks to become a top AI tech hub for the Middle East
▼ + stars: | 2024-01-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

A pop-up showcasing Saudi Arabia's Neom development features among the most prominent on the Davos promenade in 2024. But Saudi Arabia is keen to capture some of the limelight, and talent, from its neighbor on the Arabian Peninsula — an ambition laid bare on the Davos Promenade this year. "He's driving entrepreneurship, he's diversifying the economy ... And there are a lot of people that are really interested in working in Saudi Arabia," said Bremmer. "In the Emirates and in Saudi Arabia, you have millions of people that need upskilling, particularly Saudi Arabia which has a much larger population," Hidary said. Hidary, who was recently in Saudi Arabia, says that the UAE and Saudi Arabia are looking at countries like Singapore and Israel that have supported start-ups and are driven by technology.

Persons: Mohammed al, Jadaan, Prince Mohammed bin Salman's, Ian Bremmer, he's, Bremmer, Jamal Khashoggi, King Abdullah, KAUST, Harri Jarvelainen, Vera Futorjanski, Futorjanski, Israel Jack Hidary, Hidary, — CNBC's Karen Gilchrist Organizations: Saudi, CNBC, United Arab, prince's, —, Economic, Al, U.S, Eurasia Group, MBS, World Bank, Research Technology Centers, King, King Abdullah University of Science, Technology, UCLA, Riyadh's, Center, AI Research, AI, Artificial Intelligence Authority, Veritas Ventures, Emirates Locations: Davos, CNBC DAVOS, Switzerland, United Arab Emirates, Saudi Arabia, Neom, Saudi, Riyadh, China, Istanbul, UAE, Singapore, Israel, Emirates

☆ China's measures to shore up its indebted property sector
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

The following is a list of recent measures for the sector which accounts for roughly a quarter of the world's second-largest economy. Sept. 14 - China's central bank said it would cut the amount of cash that banks must hold as reserves for the second time this year to boost liquidity. Aug. 31 - China's central bank and financial regulator ease some borrowing rules for homebuyers, including lowering existing mortgage rates for first-home buyers and the down payment ratio in some cities. July 10 - China's central bank extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector. June 20- China's central bank cut its key lending benchmarks, or loan prime rates (LPRs), for the first time in 10 months.

Persons: Tingshu Wang, Liangping Gao, Ryan Woo, Edwina Gibbs Organizations: REUTERS, Rights, Xinhua, Thomson Locations: Tianjin, China, Rights BEIJING, Beijing, Shanghai, Shenzhen, megacities

Storms, floods, fires and other extreme weather events led to more than 43 million displacements involving children between 2016 and 2021, according to a United Nations report. But while catastrophes intensify, the world has yet to recognize climate migrants and find formal ways of protecting them. Nearly a third, or 43 million of the 134 million times that people were uprooted from their homes due to extreme weather from 2016-21 included children. Floods displaced children more than 19 million times in places like India and China. Many are enduring “overlapping crises” — where risks from climate extremes are compounded by conflict, fragile institutions and poverty, Healy said.

Persons: Shukri Mohamed Ibrahim, Ibrahim, That’s, ” Ibrahim, ”, Laura Healy, Healy, Kumar, ” Kumar, Meera Devi, Shiv Kumar, hasn’t, Mimi Vu, “, we’re, ” Healy, ___ Ghosal, Fassett, Omar Faruk, Piyush, Teresa de Miguel Organizations: United, UNICEF, Monitoring, AP Locations: United Nations, Somalia, Mogadishu, Philippines, India, China, U.S, Canada, Geneva, Horn, Africa, Caribbean, New Delhi, Vietnam, Bangladesh, Hanoi, Seattle, New York

☆ China's central bank to use 'precise, forceful' policy to bolster recovery
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Sept 27 (Reuters) - China's central bank said on Wednesday it would step up policy adjustments and implement monetary policy in a "precise and forceful" manner to support an economy whose recovery was improving with "increasing momentum". The central bank will guide banks to lower borrowing costs for companies and households and support banks to replenish capital, it said. China will step up government investment and policy incentives to spur private investment and promote a recovery in prices from a low level, the central bank said. The central bank also pledged to promote the healthy and stable development of the property market, implementing policies to lower down payment ratios and mortgages rates for some home buyers.

Persons: Tingshu Wang, Kevin Yao, Himani Sarkar, Christian Schmollinger, Simon Cameron, Moore Organizations: People's Bank of China, REUTERS, Rights, Beijing, Thomson Locations: Beijing, China, Rights BEIJING, megacities

☆ Factbox: China's measures to shore up a faltering economy, more support expected
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

- China stepped up measures to boost the country's faltering economy, with top banks paving the way for further cuts in lending rates. Aug. 25 -China's cabinet on Friday approved guidelines for planning and construction of affordable housing at a meeting chaired by Premier Li Qiang. July 24- China's top leaders, at a Politburo meeting, pledged to step up support for the economy, signalling more stimulus steps. July 24 - China's state planner unveiled measures to support private investment in some infrastructure sectors and said it will strengthen financing support for private projects. July 14 - China's cabinet approved guidelines for improving the building of public infrastructure in megacities, to help support the economy and cope with future public health crises.

Persons: Premier Li Qiang, Kevin Yao, Shri Navaratnam Organizations: Premier, Communist Party, Thomson Locations: BEIJING, China, megacities

☆ China seeks to boost demand by pushing urban development - state media
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 21 (Reuters) - China's cabinet has approved guidelines on transforming underdeveloped areas in megacities, in the government's latest move to support the economy, state media said on Friday. China will promote the transformation of "urban villages" - or underdeveloped areas - in megacities, as they pose a threat to public safety and social governance, state media said, citing a regular cabinet meeting. Such transformation "is an important measure to improve people's livelihoods, expand domestic demand, and promote high-quality urban development," the cabinet said. The Politburo, a top decision-making body of the ruling Communist Party, pledged in April to accelerate the redevelopment of underdeveloped areas in megacities. Reporting by Beijing newsroom and Kevin Yao Editing by Andrew Heavens and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Yao, Andrew Heavens, Frances Kerry Organizations: Communist Party, Beijing, Thomson Locations: BEIJING, megacities, China

☆ Cities brace for floods as heavier-than-usual storms drench China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 21 (Reuters) - Rescue services braced for flooding as heavier-than-expected summer storms rolled across China as forecast on Friday, drenching Beijing and other major cities. Historically, China enters its peak rainy season in late July, but extreme weather has made storms more intense and unpredictable, exposing heavily built-up megacities with poor drainage to sudden floods and waterlogging. In Beijing, authorities have deployed this week over 2,600 people to drain 87 pumping stations in advance and clear thousands of water drainage outlets along roads, municipal authorities said in a statement on Friday. In July 2021, extreme rain in the central Henan city of Zhengzhou killed nearly 400 people, including 14 who drowned in a submerged subway line. Reporting by Ryan Woo and Liz Lee in Beijing; Editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: drenching, Ryan Woo, Liz Lee, Miral Organizations: Beijing Public Transport, Authorities, Xinhua, China Meteorological Administration, Thomson Locations: BEIJING, China, drenching Beijing, Beijing, Tianjin, Hebei, Inner Mongolia, Shanxi, Henan, Hubei, Jiangsu, Wuxi city, Gansu, Zhengzhou

☆ What’s a President to Do When a Nation’s Capital Is Sinking? Move It.
▼ + stars: | 2023-05-16 | by ( Hannah Beech | ) www.nytimes.com time to read: +38 min

A new capital city for a place with such disparities and diversity presents both a challenge and a chance for reinvention. Moving the Seat of Power From Java to Borneo Detail area Malaysia Nusantara Borneo Java Sea Indonesia Jakarta Java Indian Ocean Detail area Malaysia Nusantara Borneo Java Sea Indonesia Jakarta Java Indian Ocean Indonesia’s new capital, Nusantara, will be about 800 miles from the current capital, Jakarta. It cannot be overnight, it’s not like Aladdin comes with his genie,” said Bambang Susantono, the head of the Nusantara Capital City Authority. We have to prove that this will be a self-propelling city.” — Bambang Susantono, head of the Nusantara Capital City AuthorityCritics of I.K.N. Indonesia’s capital city faces sinking land and rising seas.

Multiple experts identified the presence of malware on the Pinduoduo app that exploited vulnerabilities in Android operating systems. Evidence of sophisticated malware in the Pinduoduo app comes amid intense scrutiny of Chinese-developed apps like TikTok over concerns about data security. Pinduoduo has previously rejected “the speculation and accusation that Pinduoduo app is malicious.”CNN has contacted PDD multiple times over email and phone for comment, but has not received a response. Google Play is not available in China, and Android users in the country download their apps from local stores. Engineers also found their access to big data, data sheets and the log system revoked, the source said.

☆ Millions of Chinese workers on the move ahead of Friday travel peak
▼ + stars: | 2023-01-18 | by ( Bernard Orr | ) www.reuters.com time to read: +4 min

[1/3] A medical worker helps a patient receiving treatment at the emergency department of a hospital, amid the coronavirus disease (COVID-19) outbreak in Shanghai, China January 17, 2023. Travellers bustled through railway stations and subways in Beijing and Shanghai, many ferrying large wheeled suitcases and boxes stuffed with food and gifts. The infection rate in the southern city of Guangzhou, capital of China's most populous province, has now passed 85%, local health officials announced on Wednesday. Clinics in rural villages and towns are now being fitted with oxygenators, and medical vehicles have also been deployed to isolated areas. Doctors in both public and private hospitals were being actively discouraged from attributing deaths to COVID, Reuters reported on Tuesday.

After three years of strict and suffocating anti-virus controls, China in early December abruptly abandoned its "zero COVID" policy, letting the virus run freely through its 1.4 billion population. Several experts forecast more than one million people in China will die from the disease this year. TRAVEL RUSHBeijing's main rail station has been packed with passengers leaving the capital in recent days, according to Reuters witnesses. Meanwhile, daily arrivals in the gambling hub of Macau exceeded 55,000 on Saturday, the highest daily arrivals since the pandemic began. China's transport ministry has said it expects more than 2 billion trips in the weeks around the holidays.

☆ Death toll after Congo capital floods rises to 169, U.N. says
▼ + stars: | 2022-12-16 | by ( Paul Lorgerie | ) www.reuters.com time to read: +1 min

[1/4] People look at a damaged road after heavy rains caused floods and landslides, on the outskirts of Kinshasa, Democratic Republic of Congo. REUTERS/Justin MakangaraKINSHASA, Dec 16 (Reuters) - The death toll after heavy flooding in the Democratic Republic of Congo's capital Kinshasa this week has risen to 169, the United Nations' humanitarian office (OCHA) said on Friday, citing authorities. read moreA joint team from OCHA and Congo's social affairs ministry visited the worst-hit neighborhoods on Thursday to assess the damage. The team estimated that around 38,000 people had been impacted by the floods, OCHA said in a statement Friday. Poorly regulated rapid urbanization has made the city increasingly vulnerable to flash floods after intense rains, which have become more frequent due to climate change.

☆ DRC floods kill at least 120 in Kinshasa
▼ + stars: | 2022-12-14 | by ( Amy Cassidy | ) edition.cnn.com time to read: +2 min

CNN —More than 120 people have died in the Congolese capital of Kinshasa after torrential rains caused severe flooding in the city, according to a government statement issued Wednesday. Severe damage could be seen in video obtained by news agency Reuters, with roofs and roads collapsed and people walking knee-deep in water. “On the National Road 1, there is a big hole. A car is seen stuck after heavy rains caused floods and landslides, on the outskirts of Kinshasa, Democratic Republic of Congo December 13,2022. At least 39 people died in Kinshasa in 2019 when torrential rain flooded low-lying districts and some buildings and roads collapsed.

Women with dogs chat through gaps in a barrier at a sealed area, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 11, 2022. Shanghai, a city of 25 million people, reported 28 new local cases for Oct. 10, authorities said on Tuesday, the fourth day of double-digit increases. Register now for FREE unlimited access to Reuters.com RegisterNationwide, 2,089 new local infections were reported, the highest since Aug. 20. That's a step up from once a week presently, a regime imposed after the earlier lockdown was lifted. Checks on people travelling to Shanghai and places such as hotels, should also be strengthened, municipal authorities said.

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