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Feeling the pinch of rising housing costs and a slowing economy, the jobless graduates are forfeiting cities that have traditionally provided a stepping stone to middle-class wealth. The numbers varied by region, with 59% of graduates in the well-developed east heading home. To keep costs down as they stay longer in hope of finding a job, some young mega-city drifters even share their beds with strangers. One such post was looking for a roommate to share one bed in a room "with a huge balcony" in Beijing. ($1 = 7.2004 Chinese yuan renminbi)Reporting by Ella Cao and Ryan Woo; Additional reporting by Beijing newsroom; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer CHINA, Joyce Zhang, I've, Zhang, China's, Ella Cao, Ryan Woo, Conor Humphries Organizations: Central China Normal University, REUTERS, China News Service, China's, Xinhua, Reuters, Beijing, Thomson Locations: Wuhan, Hubei province, China, BEIJING, Beijing, Guangzhou, Shenzhen, Inner Mongolia, Hangzhou, Zhejiang

☆ China's northeast inundated in Doksuri's wake
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

People ride a boat through a flooded road after the rains and floods brought by remnants of Typhoon Doksuri, in Zhuozhou, Hebei province, China August 3, 2023. Bridges have collapsed and roads were damaged across the city, state media reported. Rainfall this past week broke many records in Beijing and northern China, with the vast Haihe river basin hit with its worst flooding since 1963. Floodwaters could take up to a month to recede in Hebei province, a water resources department official told state media. Zhuozhou southwest of Beijing is the hardest hit city in Hebei province, with about 100,000 people - a sixth of its population - evacuated.

Persons: Doksuri, Tingshu Wang, Typhoon Doksuri, David Kirton, Tom Hogue Organizations: REUTERS, China News Service, Thomson Locations: Zhuozhou, Hebei province, China, SHENZHEN, Shulan, Jilin, State, Beijing, China's Heilongjiang

☆ China turns to rural tourism and smart appliances to boost consumption
▼ + stars: | 2023-08-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

On Monday, the central government announced 20 measures to support tourism, as well as spur consumption of electric cars and so-called smart appliances. The support measures announced included an entire section on spurring rural consumption. Specifics included subsidizing trade-ins for purchase of smart household appliances, improving delivery services and promoting rural tourism. Median disposable income for rural households rose by 6.1% in the first half of the year from a year ago, official data showed. But at 8,920 yuan ($1,245) in disposable income, rural households only had about 40% of what urban households had to spend.

Persons: Yang Bo, Xu Hongcai, Li Chunlin, Li, Nomura, Xu, Wang Jun Organizations: China News Service, Getty, China Association of Policy, National Development, Reform Commission, CNBC, Boston Consulting Group, U.S . Authorities, Huatai Asset Management Locations: Nanjing, China, BEIJING, Beijing, Hong Kong

CNN —Severe flooding in Beijing was caused by the heaviest rainfall in 140 years, according to local meteorologists, and there’s little reprieve for the region as Typhoon Khanun lashes Japan with wind and rain. Meanwhile, Typhoon Khanun packed winds of 220 kilometers per hour (137 mph) – the equivalent of a Category 4 Atlantic hurricane – as it made its nearest pass to Japan’s southwestern Okinawa islands early Wednesday. In the past 24 hours, many locations in Okinawa have received 175 to 220 millimeters (6 to 8 inches) of rainfall, according to CNN Weather on Wednesday morning. People evacuate Tazhao village in Zhuozhou city, Hebei province of China on August 1, 2023. Zhai Yujia/China News Service/VCG/Getty ImagesOn Tuesday, more than 300 people were stranded in a residential building in Hebei’s Zhuozhou city, state-run outlet The Paper said.

Persons: Khanun, Zhai Yujia, Xi Jinping Organizations: CNN, Beijing Meteorological Service, CNN Weather, Okinawa Electric Power Company, Beijing Daily, CCTV, Xinhua, People, China News Service Locations: Beijing, Japan, Okinawa, Khanun, East, Ryukyu Islands, Zhejiang, Shanghai, Hebei, Tazhao, Zhuozhou city, China, Hebei’s Zhuozhou, Zhuozhou, Jilin, Heilongjiang, Inner Mongolia

☆ China is installing offshore wind turbines as tall as 30 Rock in the Taiwan Strait
▼ + stars: | 2023-07-29 | by ( Rebecca Harrington | ) www.businessinsider.com time to read: +2 min

China recently switched on a 16-megawatt offshore wind turbine in the Taiwan Strait. It's the largest, most powerful turbine in the world, at 499 feet tall with 404-foot blades. That dwarfs the size and capacity of American and European wind turbines currently in use. For comparison, the Block Island Wind Farm off the coast of Rhode Island has five wind turbines capable of generating 30 megawatts of electricity combined, which the company behind it says can power 17,000 homes. Workers install the world's first 16-megawatt offshore wind turbine at an offshore wind farm operated by China Three Gorges Corporation on June 28, 2023 in Pingtan Comprehensive Experimental Zone, Fujian Province of China.

Persons: IFLScience, Lyu, GREG BAKER, it's, China doesn't Organizations: Service, Privacy, Gorges Corporation, Workers, China Three Gorges Corporation, China News Service, Getty, GE Locations: China, Taiwan Strait, Rhode, Fujian Province, New York City, Pingtan, Taiwan, China's, Fujian, AFP

“I don’t necessarily need a higher paid job or a better life,” she added. College graduates looking for jobs at a fair in central China's Hubei province on July 20. A growing trendOn Douban, about 4,000 members of a group called “full-time children’s work communication center” discuss topics related to their daily “working” lives. By contrast, today’s “professional” children spend time with parents and do housework in exchange for financial support. In addition to her family duties, she’s busy applying for government jobs and taking exams for graduate school.

Persons: Litsky Li, Li, ”, “, headwinds, Zhang Dandan, ” hashtag, somethings, today’s, ’, Fang Xu, Nancy Chen, she’s, Chen, hasn’t, It’s, George Magnus, Magnus Organizations: Hong Kong CNN, College, CNN, Peking University, University of California, China News Service, Harvard University, China Centre, Oxford University, SOAS University of London Locations: Hong Kong, Luoyang, China's Hubei, Beijing, ”, China, University of California Berkeley, Jiangxi, Wanshou, China's Jiangxi

☆ Disney World has a bigger problem than Ron DeSantis: people aren't going
▼ + stars: | 2023-07-11 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Disney's ongoing feud with Ron DeSantis is certainly a factor. Ron DeSantis, it's pretty clear that the park's problems run deeper than a political beef. While crowd sizes are down in the US parks, revenue is up at international Disney parks such as Disneyland Hong Kong. Despite the DeSantis dust-up, the park's biggest issue has nothing to do with politics — Disney World is damn expensive. Ron DeSantis Paul Hennessy/SOPA Images/LightRocket via Getty ImagesIt's also clear that a cut back on vacationing is not the issue.

Persons: Ron DeSantis, Disney execs, Li Zhihua, execs, DeSantis, —, Ron DeSantis Paul Hennessy, Courtney Garcia, Garcia, Samantha Delouya, Bob Iger Organizations: Disney, Service, Walt Disney, Florida Gov, Wall Street Journal, Hollywood Studios, Shanghai Disney Resort, Hong Kong Disneyland, China News Service, — Disney, Getty, TSA, Payne Capital Management Locations: Wall, Silicon, Magic, Shanghai, Paris, Hong, Hong Kong, Florida

☆ China's capital grapples with scorching summer heat
▼ + stars: | 2023-07-07 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Beijing’s temperature soared past 40 degrees Celsius (104 degrees Fahrenheit) again Thursday, as the Chinese capital grapples with what is shaping up to be one the most severe heat waves on record. China has been gripped by scorching heat waves for weeks, which authorities said had arrived earlier and been more widespread and extreme than in previous years. People shield themselves from the sun amid extreme heat on July 5, 2023 in Beijing. The persistent heat waves have put huge stress on the country’s power grids as demand for air-conditioning soared, with some local governments urging companies and residents to curb the usage of electricity. As the climate crisis intensifies, scientists say dangerous, record heat waves are set to become more frequent and more severe.

Persons: Tianyong Jia, heatstroke, Niño, El Organizations: Hong Kong CNN, heatstroke, China News Service, Beijing Daily, World Meteorological Organization, El Locations: Hong Kong, Beijing, China, Northern China, Hebei, Henan, Hunan, 17.18C

☆ Asia markets extend declines as U.S. jobs data triggers sell-off on Wall Street
▼ + stars: | 2023-07-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Red lanterns are hung up on the street in Wan Chai, Hong Kong. (Photo by Zhang Wei/China News Service via Getty Images)Markets in Asia-Pacific marked a second day of declines after Wall Street sold off on stronger-than-expected U.S. jobs data, leaving room for more rate hikes ahead by the Federal Reserve. Private sector jobs surged by 497,000 for the month, much better than the 220,000 Dow Jones consensus estimate. The data also followed minutes of the Federal Reserve's June meeting, released Wednesday, which showed that most officials would support more rate increases ahead. In South Korea, the Kospi slid 0.51% as Samsung Electronics estimated a 96% likely plunge in its second quarter operating profit.

Persons: Zhang Wei Organizations: China News Service, Getty, Federal Reserve, Companies, Dow Jones, Nikkei, Samsung Electronics Locations: Wan Chai, Hong Kong, Asia, Pacific, South Korea, Australia

☆ Meituan’s KeeTa joins Hong Kong's food delivery race — but analysts are skeptical
▼ + stars: | 2023-07-04 | by ( Sheila Chiang | ) www.cnbc.com time to read: +6 min

HONG KONG, CHINA - MAY 22: A poster promoting 'KeeTa' is seen on May 22, 2023 in Hong Kong, China. "I'm not very optimistic about Meituan's expansion in Hong Kong," Shawn Yang, managing director of Blue Lotus Research Institute, told CNBC. The food delivery service — named KeeTa — launched on May 22 in two residential areas: Mong Kok and Tai Kok Tsui. Stiff competitionThe penetration rate of food delivery in Hong Kong is not particularly high. The food delivery market in Hong Kong remains lukewarm, even during the pandemic, with moderate growth rates.

Persons: Chen Yongnnuo, Shawn Yang, KeeTa —, Mong Kok, Tai Kok Tsui, KeeTa, Sham, Meituan, Kai Wang, ChinaIRN, doesn't, it's, Wang, Yang, Blue, Ryan Lai, Lai Organizations: China News Service, Getty, Blue Lotus Research Institute, CNBC, Yau, Morningstar, Morningstar Asia, Blue Lotus Research, Blue Lotus, Foodpanda, Hong, HK Locations: HONG KONG, CHINA, Hong Kong, China, Mong, Morningstar Asia, Mong Kok, Hong, Deliveroo, Foodpanda Hong Kong

☆ China beats its own record for hot days over six months
▼ + stars: | 2023-07-03 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has registered the highest number of hot days over six months since records began, according to authorities, as the country confronts another record-breaking summer of blistering heat. The national average was calculated from the number of high temperature days recorded by weather stations across the country. Northern China, a heavily populated region with hundreds of millions of residents, has been particularly hard hit, with more heat waves expected in coming weeks. So far this year, Shijiazhuang, the capital of Hebei province, has seen 17 high temperature days, followed by Beijing’s 14 days. As the climate crisis intensifies, scientists say dangerous, record heat waves are set to become more frequent and more severe.

Persons: Beijing’s, Sheng Jiapeng, Zhou Bing, El Nino, ” Zhou Organizations: Hong Kong CNN, National Climate Center, Museum, China News Service, Climate Center, China Meteorological Administration, Times, El Nino, El, Xinhua Locations: Hong Kong, China, Northern China, Shijiazhuang, Hebei province, Beijing, Sichuan

☆ There's a pig theme park in China and people are paying $1,200 a night for a hotel room so they may see — but not smell — the piggery
▼ + stars: | 2023-06-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

A hotel room at a pig theme park costs over $1,200 a night, per local media. The room went viral after a Zhejiang media outlet, Tianmu News, posted a video clip on June 25 featuring the theme park on Douyin, the Chinese version of TikTok. The theme park, which opened in August 2021, aims to promote this highly prized pig breed, which is used to make Jinhua dry-cured ham, a local specialty. Guests can get a panda pig or a year's worth of express-couriered pork upon checkout. —Zhejiang Normal University (@StudyatZJNU) December 1, 2021The theme park — which has a castle-like facade — includes a museum dedicated to the pig, a cafe, an amusement park, and a conference room, according to its website.

Persons: — Organizations: Service, China News Service, Zhejiang Normal University Locations: China, Jinhua, Zhejiang, Douyin

☆ China is looking all over the world for help building and flying its fighter jets
▼ + stars: | 2023-06-25 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

A British Royal Air Force Eurofighter Typhoon fighter jet at RAF Coningsby in May. Daniel Duggan, a former US Marine Corps pilot, has been accused of violating the Arms Export Control Act by training Chinese military pilots. "Currently, Chinese jet engines can at best achieve one-fourth the life span of Western engines," the report says. To manufacture engines, China still needs to import complex machine tools, including equipment made in Germany, Japan, Italy, and South Korea. A J-20 stealth fighter jet at Airshow China 2022 in Zhuhai in November.

Persons: —, Der Spiegel, Christopher Furlong, Daniel Duggan, Duggan, Chen Jimin, Deng Hua, John Paul Jones, walling, Michael Peck Organizations: Service, Privacy, China, NATO, Taiwan, British Royal Air Force Eurofighter, Coningsby, US, Chinese headhunters, US Marine Corps, Western, China News Service, Getty, Center for Strategic, International Studies, CSIS, Nations, Soviets, Defense, Foreign Policy, Twitter, LinkedIn Locations: China, May, Australian, Zhuhai, US, Germany, Japan, Italy, South Korea, Xinhua, Constantinople, Byzantine Empire, Hungarian, Russia, Russian, Nazi, Forbes

☆ Ocean exploration: The benefits and risks
▼ + stars: | 2023-06-24 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Ocean secretsA bioluminescent jellyfish is shown in an image taken during exploration of the Marianas Trench Marine National Monument. NOAA Office of Ocean Exploration/APThe deep ocean is an alien landscape that scientists have only just begun to understand. So much remains to be explored because reaching the bottom of the ocean is an incredibly difficult task. But the ocean depths have much to offer, including lifesaving compounds and the secrets of how life on Earth evolved. The event is nearly 10 months away, but people are already anticipating the total solar eclipse that will pass over Mexico, the US and Canada on April 8, 2024.

Persons: Miles, hasn’t, Jiang Feibo, NASA’s Parker, Ashley Strickland, Katie Hunt Organizations: CNN, Marianas Trench, NOAA, of Ocean Exploration, University of Cambridge, China News Service, CNN Space, Science Locations: Africa, Mexico, Canada, England, Trumpington, Germany, Rome, Lhasa, Tibet, Bermuda, France

☆ A violent collision likely created the Geminids meteor shower
▼ + stars: | 2023-06-21 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —The Geminid meteor shower, which lights up the sky each December, is one of the most active and dependable celestial displays of the year. Now, astronomers using NASA’s Parker Solar Probe have gained more insight into the underlying cause of the Geminids. The meteor shower was first recorded in 1862 and appears to radiate from the Gemini constellation. The Geminid meteor shower streaks across the night sky over the Lhasa River in Tibet on December 14, 2022. It’s the first asteroid to be associated with a meteor shower, and it measures about 3.17 miles (5.10 kilometers) across.

Persons: NASA’s, it’s, “, ”, Jamey Szalay, Szalay, Jiang Feibo, Phaethon, Fred Whipple, Helios Organizations: CNN, Probe, NASA, Princeton University, Science, Parker, China News Service Locations: Lhasa, Tibet

☆ Hong Kong's new dual counter scheme 'solidifies' city's role as yuan trading hub, HKEX CEO says
▼ + stars: | 2023-06-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

HONG KONG, CHINA - JUNE 05: A pedestrian walks by an electronic screen displaying the numbers for the Hang Seng Index on June 5, 2023 in Hong Kong, China. The dual counter model covers securities listed in both Hong Kong dollar and renminbi counters only. The Hong Kong Exchange said all shares of the same securities in the two different trading counters will be "fully interchangeable between counters." The HKEX CEO noted that the initial batch of 24 companies make up about 40% of the average daily trading volume in the Hong Kong. Not the first tryThis is not the first time that such a scheme is being introduced in Hong Kong.

Persons: Chen Yongnuo, Nicolas Aguzin, Aguzin Organizations: China News Service, Getty Images, Getty, Hong Kong, Companies, Baidu, Hong Kong Exchange, Hong Kong Exchanges, Investments, Connect, Stock, Stock Connect, Reuters, Bloomberg Locations: HONG KONG, CHINA, Hong Kong, China, renminbi

Videos posted on the young influencer’s account showing her running and weight-lifting were shared heavily on Chinese social media and also appeared in various state media outlets following her death late last month. State media outlets said that the influencer’s family had received “compensation” from the weight loss camp in Shaanxi, but did not say how much. In China, as in much of Asia and the rest of the world, social media is awash with unhealthy and unrealistic trends promoting extreme weight loss. One notorious recent social media trend in China involved women posing behind vertical sheets of printer paper to prove their waists were so thin they could not be seen either side. Zhou’s death has also increased scrutiny of the social media influencer industry more generally.

Persons: Cuihua, Zhou –, ”, Zhou’s Organizations: Hong Kong CNN, China National Radio, CNN, China News Service, Television Administration, Ministry of Culture, Global, Weibo Locations: Hong Kong, China, Shaanxi, Shaanxi province, Asia, Tourism

☆ The most effective and cheap ways to cool your body during a heat wave, according to scientists
▼ + stars: | 2023-06-14 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

Insider asked two scientists for simple, effective, and cheap ways to cool down. Put your hands or feet in cold waterIn extreme heat, the body opens up the blood vessels that are close to the skin. Blood carries heat from inside the body to the surface, where it can benefit from the cooling effect of sweat evaporating. Use an electric fan, but be careful in very hot weatherA fan helps cool you down by helping sweat evaporate faster. In dry heat, sweat is already evaporating at maximum efficiency.

Persons: George Havenith, Serge Haouzi, Owen Jeffries, Jeffries, Havenith, Coke, Ricardo Rubio, you've Organizations: Service, Oceanic, Atmospheric Administration, Environmental, Loughborough University, Getty, Newcastle University, World Health Organization, China News Service, Europa Press Locations: Pacific, Asia, Nice, France, Xinhua, Chongqing, China, Madrid, Spain

☆ Why Hong Kong can’t cut loose from the US dollar just yet
▼ + stars: | 2023-06-13 | by ( Laura He | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Hong Kong’s currency is facing its biggest test since the global financial crisis of 2008. The steep fall is a sign that investors are ditching the Hong Kong dollar. The Hong Kong Monetary Authority (HKMA) is committed to keeping the Hong Kong dollar between 7.75 and 7.85 per greenback. People walk past the Hong Kong Monetary Authority (HKMA) on May 4, 2023, in Hong Kong, China. “Pegging the Hong Kong dollar to the US dollar encourages such transactions to be carried out in Hong Kong and under Hong Kong law, even if neither party is based in Hong Kong.”This helps to create jobs and prosperity in Hong Kong, while also benefiting mainland China.

Persons: Hong, hasn’t, Andy Xie, ” Logan Wright, Bill Ackman’s, Ackman, Wright, Peter Parks, Kong, Deng Xiaoping, Margaret Thatcher, outflows, Chi Lo, Chen Yongnuo, Hong Kong’s, ”, Richard Cookson ,, Boaz Weinstein, Daniel Fung, Rhodium’s Wright, Xie, Eddie Yue, Banks, John Greenwood, “, Greenwood, ” Greenwood Organizations: Hong Kong CNN, British, Hong, Traders, Hong Kong, Bill Ackman’s Pershing, Capital Management, Getty, Lehman Brothers, Hong Kong Monetary Authority, US Federal Reserve, Asia Pacific, BNP, Asset Management, Fed, China News Service, Rubicon Fund Management, Bloomberg, Saba Capital Management, National Security Law, CNN Locations: Hong Kong, United States, China, Hong, Beijing, AFP, Britain, “, ”, Riding

☆ Cramer says snap up this leading medtech stock — wishes he could buy shares too
▼ + stars: | 2023-06-08 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

GE Healthcare (GEHC) shares are sliding Thursday, giving Club members an opportunity to invest in the medical-technology company at an increasingly attractive valuation. The noise around this transaction seems to be dragging down GE Healthcare shares. Thursday's declines push GE Healthcare shares below our cost basis of $79.47, which typically is a welcome development for a newer, smaller position. Essentially, what's happening now is General Electric is exchanging more than a quarter of its GEHC shares in a deal with Morgan Stanley. So, it's hardly a surprise to see General Electric monetizing some of its GE Healthcare stake to improve its balance sheet.

Persons: Jim Cramer, we're, we'd, Jim, Electric's, isn't, Morgan Stanley, Larry Culp, Global's, dilutive, Jim Cramer's, Yi Haifei Organizations: GE Healthcare, Electric, GE, CNBC, General Electric, GE Vernova, Intel, Mobileeye, Fair for Trade, Services, China National Convention Center, China News Service, Getty Locations: China, Beijing

☆ Russia's McDonald's replacement says it's serving 2 million customers a day, but diners are divided on whether it's as good as the original
▼ + stars: | 2023-06-07 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Russia's McDonald's replacement, Vkusno & tochka, opened a year ago. The chain can't sell iconic McDonald's items like the Big Mac and has created substitutes instead. Its CEO told Reuters that it has sold more than 24 million "Big Hits," its Big Mac dupe, since opening. Paroev previously said that Vkusno & yochka sold 120,000 burgers on its opening day, which he said was higher than any other day in McDonald's Russia's history. Have you been to Vkusno & tochka?

Persons: Russia's, —, Alexander Govor, tochka, hasn't, Oleg Paroev, Paroev, yochka, Tian Bing, tochka hadn't, tochka's, Ronald McDonald Organizations: Reuters, Service, Mac, China News Service, Getty Locations: Ukraine, Russian, Russia, Moscow

☆ Hong Kong stocks enter bear market territory as China reopening optimism continues to fade
▼ + stars: | 2023-05-31 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Zhang Wei | China News Service | Getty ImagesStock Chart Icon Stock chart iconThe Hang Seng Tech index has already fallen by more than 25% from its January peak. That's a stark contrast to the reopening optimism that had once driven Asia-Pacific's benchmark MSCI Asia Pacific index to a bull market. watch nowMorgan Stanley analysts said in a May 17 report that a weak reading in that manufacturing measure "has been a solid precursor to policy easing." "If growth does not accelerate sufficiently to narrow the output gap, social stability risk may rise and eventually trigger more meaningful stimulus," Morgan Stanley analysts wrote in the note. The index for services activity remained in expansionary territory at 54.5, but marked a second-straight month of decline.

Persons: Zhang Wei, Morgan Stanley Organizations: China News Service, Getty, Hang, Seng China Enterprises, Analysts, China, CNBC, National Bureau, Statistics Locations: Hong, Wan Chai district, Asia, Hong Kong

☆ China's first homegrown large passenger jet took its maiden flight after 16 years in the making — check it out
▼ + stars: | 2023-05-29 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

China's first domestically-made large passenger jet completed its maiden commercial flight Sunday. China's first domestically-made large passenger jet has completed its maiden commercial flight. VCG/VCG via Getty ImagesNearly 130 passengers were on board for the maiden flight, which took around two hours, Comac said. Crowds gather to watch the C919 land at Beijing Capital International Airport during its maiden commercial flight. Passengers sit on board the C919's maiden commercial flight.

☆ China's youth unemployment hits a record high, deepening its economic scars
▼ + stars: | 2023-05-29 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

In this article GSBDGS Follow your favorite stocks CREATE FREE ACCOUNTChina's young face the prospect of dimmer economic gains amid record youth unemployment in the world's second-largest economy. "The expansion of college education in the late 1990s created this huge influx of college graduates, but there is a misalignment between demand and supply of high skilled workers. "Increasingly, college graduates are taking up positions that are not commensurate with their training and credentials to avoid unemployment," Lu told CNBC. China's young face the prospect of dimmer economic gains amid record youth unemployment in the world's second-largest economy. "But the plan was for China's economy to transform from labor-intensive industry to more technological, with a strong service-oriented, knowledge economy," Yeung added.

☆ China's latest Covid surge pressures 3 Club stocks, but doesn't change our conviction in each
▼ + stars: | 2023-05-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Investor concern has been spilling over into the Club holdings doing the most business in China: Wynn Resorts (WYNN), Estee Lauder (EL), and Starbucks (SBUX). That ultimately bodes well for Estee Lauder, Starbucks and Wynn, even if increasing consumer demand appeared somewhat uneven in the latest round of quarterly results. And we're expecting Estee Lauder's China business to recover as travel continues to accelerate. We remain optimistic about the growth trajectory in the country, and see this latest Covid wave as a temporary speedbump. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Estee Lauder, Wynn, Jim Cramer, Jim, Laxman Narasimhan, Beijing's, hasn't, Estee, Jim Cramer's, WYNN Organizations: Wynn Resorts, WYNN, Starbucks, Wynn, Management, CNBC, China News Service, Getty Locations: China, Shanghai, Beijing, Macao, Asia

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