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☆ Photos: Asia’s most powerful storm Typhoon Yagi wreaked havoc in Vietnam, Thailand
▼ + stars: | 2024-09-13 | by ( Kathleen Magramo | Noemi Cassanelli | ) edition.cnn.com time to read: +3 min

After hitting the Philippines, where it killed more than a dozen people, it churned westwards towards southern China and shortly after parts of Vietnam, Thailand, Myanmar and Laos. Rescue teams pick up schoolchildren and residents in Chiang Rai, Thailand on September 12, 2024. Lillian Suwanrumpha/AFP/Getty ImagesFlood waters surround an entire neighborhood in the northern Thai city of Chiang Rai on September 12, 2024. Nhac Nguyen/AFP/Getty ImagesRescue officials clean up debris from a landslide in a remote mountainous village in Vietnam's northwestern Lao Cai province on September 12, 2024. Stringer/AFP/Getty ImagesVillagers wade through waist-deep floodwaters in Taungoo in Myanmar's Bago region on September 12, 2024.

Persons: Yagi, Chiang Rai, Lillian Suwanrumpha, Nhac Nguyen, Stringer, Sai Aung, Huang Yun, Lei Wenzhen, Eloisa Lopez Organizations: CNN, Reuters, Getty, Getty Images, Tropical Locations: China, Southeast Asia, Philippines, Vietnam, Thailand, Myanmar, Laos, Vietnam’s Phu Tho, Chiang, Chiang Rai, AFP, Thai, Hanoi, Vietnam's, Lao Cai province, Taungoo, Myanmar's Bago, Bago, Sai, Nanning, Guangxi Zhuang Autonomous Region, Pampanga

☆ China’s first university degree in marriage offers courses like matchmaking and pre-divorce counseling
▼ + stars: | 2024-08-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Newly-wed couples attending a group wedding ahead of '520 I Love You' Day on May 19, 2024 in Nanning, Guangxi Zhuang Autonomous Region of China. China is issuing its first university degree program in all things matrimony, and its curriculum includes wedding planning, matchmaking services and marriage counseling. "It starts from before [a couple] starts a family — from marriage matchmaking, to premarital counseling, marriage registration, wedding services, and then extending down to counseling before divorce," Yu told local media according to a Baidu translation, adding that there is currently a talent demand gap for highly trained professionals in the marriage services market. Modules in the course include sociology, wedding venue design, family ethics, the economics of the marriage industry and family policies. Students will also have the chance to intern at agencies that specialize in weddings, matchmaking, marriage registration and counseling.

Persons: Yu Xiaohui, Yu Organizations: Vocational University of Civil Affairs, university's, of, Culture, Media Arts Locations: Nanning, Guangxi Zhuang Autonomous Region, China, Beijing

☆ China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
▼ + stars: | 2024-05-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

A new report says China's $229 billion military budget in 2022 was actually equivalent to $711 billion. AdvertisementIn June 2023, Sen. Dan Sullivan of Alaska warned Congress that China's military was catching up to America's faster than previously imagined. That makes Beijing's spending in 2022 "nearly equal" to the US defense budget of about $740 billion that year, wrote Eaglen, a senior fellow at AEI. Using that factor, Eaglen wrote that it's highly likely China's spending on personnel that year was worth $293 billion of US military spending. US military spending is also often cited as higher than the actual defense budget.

Persons: —, Sen, Dan Sullivan, Mackenzie Eaglen, Sullivan, Eaglen, haven't Organizations: AEI, Service, Republican, American Enterprise Institute, Pentagon, Beijing, United Nations, Labor, US Army, People's Armed Police, Liberation Army's, Publishing, Getty, China's, Guard Locations: Alaska, Beijing, Washington, China, Nanning, South, Guangxi Zhuang Autonomous, United States

☆ China's fiscal stimulus is losing its effectiveness, S&P says
▼ + stars: | 2024-04-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's fiscal stimulus is losing its effectiveness and is more of a strategy to buy time for industrial and consumption policies, S&P Global Ratings senior analyst Yunbang Xu said in a report Thursday. The analysis used growth in government spending to measure fiscal stimulus. "In our view, fiscal stimulus is a buy-time strategy that could have some longer-term benefits, if projects are focused on reviving consumption or industrial upgrades that increase value-add," Xu said. The head of the top economic planning agency said in March that China would "strengthen macroeconomic policies" and increase coordination among fiscal, monetary, employment, industrial and regional policies. High debt levels limit how much fiscal stimulus a local government can undertake, regardless of whether a city is considered a high or low-income region, the S&P report said.

Persons: Yunbang Xu, Xu Organizations: Global Locations: Nanning, Guangxi Zhuang, China, BEIJING, Shenzhen, Bazhong, Sichuan

☆ More Chinese Women Choosing Singledom as Economy Stutters
▼ + stars: | 2024-03-06 | by ( March | At P.M. | ) www.usnews.com time to read: +6 min

Chinese Premier Li Qiang also vowed to "work towards a birth-friendly society" and boost childcare services in this year's government work report. In Shanghai, this figure reached 30.6 for men and 29.2 for women last year, according to city statistics. Long-term single lifestyles are gradually becoming more widespread in China, giving rise to online communities of mostly single women who seek solidarity from like-minded people. Decades of the one-child policy have led to 32.3 million more men than women in 2022, according to official data. "Well-educated women in search of supportive life partners find fewer suitable men who also endorse women's rights."

Persons: Laurie Chen XIAN, Chai Wanrou, didn't, Xi Jinping, Li Qiang, stigmatised, influencers, China's Instagram, Liao Yueyi, I've, Xiaoling Shu, Davis, Shu, Laurie Chen, Farah Master, Miral Fahmy Organizations: Reuters, Communist Party, Communist Youth League, University of California Locations: China, Xian, Shanghai, United States, Xiaohongshu, Nanning, Hong Kong

☆ China rolls out fresh property relief measures to stem the fallout from Evergrande's meltdown
▼ + stars: | 2024-01-31 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Officials in China are boosting property sector relief measures to blunt the impact of Evergrande's collapse. The new measures are part of a wider series of economy-boosting initiatives, especially in the real estate sector, which constitutes one-quarter of the country's economy. The crisis in the property sector stems from huge debt and overbuilding in the last decade, which has resulted in a liquidity crisis for many property developers, including Evergrande. The company's troubles sent country's property sector into a tailspin starting in 2022 when it defaulted on some of its offshore bonds. China is moving mountains to hold the real estate sector's crisis from pouring into other sectors.

Persons: — Organizations: Service, Beijing, China's Ministry of Housing, China Mingsheng Banking Corp, China Securities Journal, Guangzhou, Reuters, Bloomberg Locations: China, Hong Kong, Nanning, Guangxi, Chongqing, Suzhou, Shanghai, restructurings

☆ Floods, mudslides kill two in northwestern China city
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

The Qinling Mountains in Xian will continue to experience extreme weather conditions, which will lead to soil erosion and possibly further mudslides, the broadcaster said. A man holding a child walks across a damaged bridge after the rains and floods brought by remnants of Typhoon Doksuri, in Zhuozhou, Hebei province, China August 7, 2023. In southwestern Guangxi on Friday, heavy rainfall in the city of Nanning led to urban flooding, forcing rush hour commuters to drive vehicles and motorcycles through waterlogged roads, CCTV said. Local authorities set up cordons to allow drainage work on some roads, while the city dispatched nearly 3,900 police to help. In Huozhou city in the northern province of Shanxi, some low-lying houses faced stagnant water breaches, as floods from heavy rain trapped some residents in their buildings, the broadcaster said.

Persons: Xian, Doksuri, Tingshu Wang, Engen Tham, Miral Organizations: China Central Television, REUTERS, Local, Xinhua News Agency, Thomson Locations: Nanning, Beijing, Harbin SHANGHAI, China, Fujian, Xian, Zhuozhou, Hebei province, Harbin, Guangxi, Jilin, Huozhou, Shanxi, Mongolia

☆ Chinese navy makes rare foray into West Africa with Nigeria visit
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 3 (Reuters) - A naval fleet of China's People's Liberation Army (PLA) led by the destroyer Nanning arrived in Nigeria on Sunday, in a rare visit by the Chinese military to Africa's Atlantic coast, where Beijing has long made efforts to grow its influence. The Chinese ambassador to Nigeria hailed the five-day visit as a milestone in ties, while the Nigerian navy expressed willingness to work with China to tackle maritime security threats and maintain stability in the Gulf of Guinea, the Chinese embassy said in a statement on Monday. Oil-rich West Africa is an important global exporter of crude. The region, mostly Angola and Nigeria, is among China's top oil suppliers. Major Chinese oil explorer CNOOC Ltd also engages in deep-sea production off the coast of Nigeria.

Persons: Nanning, CNOOC, Ryan Woo, Clarence Fernandez Organizations: Liberation Army, PLA, Thomson Locations: BEIJING, Nigeria, Beijing, Nigerian, China, Gulf, Guinea, Africa, Angola, Sao Tome and Principe, Taiwan, Djibouti

☆ China’s real estate slump predicted to last for years, threatening to spill into the wider region
▼ + stars: | 2023-06-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Future Publishing | Future Publishing | Getty ImagesWeakness in China's real estate sector could be a drag on the economy for years to come and could even impact countries in the wider region, Wall Street banks have warned. "We only assume an 'L-shaped' recovery in the property sector in coming years," they said. watch nowGoldman Sachs economists also noted there are expectations for China's government to introduce more housing stimulus packages to support the sector. If the challenges in the property sector deepen and bring risk aversion in the financial system and affect consumer confidence, this will cause a deeper slowdown in China. watch nowHui said the government's push to cap property prices at a certain level could be missing a big chunk of potential buyers.

Persons: Goldman Sachs, Lisheng Wang, Goldman, Tai Hui, Morgan Stanley, Hui, CNBC's, that's Organizations: Future Publishing, Reuters, Market Locations: CHINA, Nanning, South, Guangxi Zhuang, Wall, China, Asia

☆ Can the Zibo barbecue frenzy save China from economic crises?
▼ + stars: | 2023-05-15 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Zhu Zheng/Xinhua/Getty ImagesSo many tourists flocked into Zibo, now dubbed China’s outdoor barbecue capital, that even the local tourism authorities urged visitors to go elsewhere. A few may, but most won’t.”A shop owner shows off grilled meat during a barbecue festival on April 29, 2023 in Zibo, eastern China. The city Zibo became a tourism hot spot after videos of its barbecue went viral online. China’s economy is navigating a growing array of challenges. The informal trade might reduce unemployment temporarily, and give people feeling poorer a boost, but it “won’t save China’s economy,” Tsang said.

CNN —Thousands of foreign nationals have been evacuated from Sudan as clashes between two rival military factions vying for control of the country continue despite a supposed truce. Another eyewitness told CNN that Rapid Support Forces had moved in to the Wad Al-Bashir area, west of Omdurman (a major city just northwest of the capital Khartoum). Residents on the ground have told CNN that markets and shops have been heavily targeted by looters in the past few days. China, meanwhile, said it had evacuated 940 Chinese citizens and 231 foreign personnel from Sudan to Saudi Arabia between Wednesday and Saturday. “In order to protect the lives and property of Chinese citizens in Sudan, the Chinese military has been ordered to evacuate Chinese personnel in Sudan,” said Senior Colonel Tan Kefei.

☆ China’s economic recovery is on track. But youth unemployment is getting worse
▼ + stars: | 2023-03-15 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s economic recovery appears to be on track as it gradually emerges from three years of its strict zero-Covid policy. But rising youth unemployment underscores the tough challenges ahead for the new government to achieve its economic targets and maintain social stability. “The economic data released today confirmed the recovery in China was well on track,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. Recent PMI figures had indicated a strong recovery in China’s economic activity, with February’s factory output from large, state-owned enterprises hitting the highest level in more than a decade. A large number of employment seekers line up outside a job fair in Nanning, Guangxi province on February 18, 2023.

☆ China’s property crash is prompting banks to offer mortgages to 70-year-olds
▼ + stars: | 2023-02-17 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Some banks in the cities of Nanning, Hangzhou, Ningbo and Beijing have extended the upper age limit on mortgages to between 80 and 95, according to a number of state media reports. China’s property market is in the midst of a historic downturn. The mortgage borrower’s age plus mortgage length should not usually exceed 70 years, according to previous rules published by the banking regulator. Separately, a branch of Citic Bank has extended the upper age limit on its mortgages to 80, the paper said, citing a bank client manager. Other than Beijing, some banks in Nanning, the provincial capital of Guangxi province, have raised the upper age limit on mortgages to 80, according to the city’s official newspaper Nanguo Zaobao.

☆ The property market is so bad in China that some banks are letting people be on mortgages till they are 80
▼ + stars: | 2023-02-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Some banks in China are now extending the upper age limit for mortgage borrowers to 80. Banks in cities like Beijing, Nanning, and Ningbo have raised the upper age cap. To attract more mortgage-seekers, some banks are starting to extend the upper age limit for homeowners servicing mortgages to 80 years old, according to various local media outlets. The upper age limit is typically 65 to 70 now, according to news outlet Sixth Tone. Banks have extended the upper age cap for mortgages in cities like Beijing and Nanning, the Beijing Youth Daily reported on February 14.

☆ They Poured Their Savings Into Homes That Were Never Built
▼ + stars: | 2023-01-24 | by ( Isabelle Qian | Agnes Chang | ) www.nytimes.com time to read: +13 min

We talked to four people who emptied their life savings and took out huge loans for homes that have not been completed. “It was a simple dream — to have a home, a family,” Mr. Tang said. Mr. Tang, who works in a restaurant, sold a small place he had out in the countryside. “When I think about the unfinished apartment, it’s as if I’m falling from heaven to hell, ” Mr. Tang said. Homeowners atop one of the unfinished apartment towers call for construction to fully resume.

☆ Chinese cities announce further easing of COVID curbs
▼ + stars: | 2022-12-04 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +5 min

REUTERS/David 'Dee' DelgadoBEIJING, Dec 4 (Reuters) - More Chinese cities including Urumqi in the far west announced easing of coronavirus curbs on Sunday, as China tries to make its zero-COVID policy more targeted and less onerous after extraordinary protests against restrictions last weekend. A deadly apartment fire last month in Urumqi had sparked dozens of protests against COVID curbs in over 20 cities, a show of civil disobediance unprecedented in mainland China since President Xi Jinping took power in 2012. On Saturday in Beijing, local authorities said purchasing fever, cough and sore throat medicines no longer requires real name registration. "We shouldn't shut down COVID testing stations until we get rid of the COVID test pass." GLOBAL OUTLIERXi's zero-COVID policy has made China a global outlier nearly three years into the pandemic, which started in the central Chinese city of Wuhan.

☆ A man who won $30 million on the Chinese lottery says he'll keep it secret from his wife and child in case it makes them lazy
▼ + stars: | 2022-11-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

A man who won $30 million on the Chinese lottery says he won't tell his wife and child. The man – identified by local newspaper the Nanning Evening News as Mr Li – won 219.4 million yuan on the Guangxi Welfare Lottery on October 20. "I have not told my wife or kid," Li told the publication, per a translation by The South China Morning Post. A woman buys a ticket on a China Welfare Lottery vending machine in in Zhengzhou on April 14, 2022. After tax, he took home around 171.6 million yuan ($23.6 million), per the publication.

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