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[1/5] Workers walk out of a construction site of residential buildings by Chinese developer Country Garden, in Tianjin, China August 18, 2023. Both sites are run by Country Garden, China's largest developer by sales volume before this year, now mired in a debt crisis threatening to spill over to the wider economy. Once considered one of the more financially sound developers, Country Garden is now a bellwether of how the cycle has turned for developers. Country Garden built its success by quickly selling a large number of units for low margins and by promising "five-star living" in less popular, smaller cities. Tianjin has about a dozen Country Garden projects, with the majority finished and delivered, said Gao Fei, investment advisory manager at the Tianjin branch of Centaline Property Agency.

Persons: Tingshu Wang, Wang, Wei, Gao Fei, Gao, Laurie Chen, Clare Jim, Sumeet Chatterjee, Sonali Paul Organizations: Workers, REUTERS, Rights, Reuters, Construction, Nomura, Centaline Property Agency, Thomson Locations: Tianjin, China, Rights TIANJIN, HK, Beijing, Shenyang Tengyue, Centaline, Hong Kong

☆ Chinese coach fined, banned for eight months for slapping referee
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Aug 2 (Reuters) - A Chinese soccer coach who slapped a referee on the side of his head during a second tier match last month has been handed an eight-month match ban and fined 150,000 yuan ($20,905), the Chinese football association (CFA) said on Wednesday. For this he is "prohibited from entering the sports stadium for matches for a period of eight months" and fined 150,000 RMB, it added. "The Chinese Football Association will strictly and resolutely handle all kinds of violations of rules and discipline in accordance with the provisions of the Disciplinary Code of the Chinese Football Association, in order to purify the atmosphere of the game. "We hope that all parties involved will work together to maintain order on the field and preserve the hard-earned development environment of football." ($1 = 7.1754 Chinese yuan renminbi)Reporting by Martin Quin Pollard Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Duan Xin, Martin Quin Pollard, Christian Radnedge Organizations: Liaoning, Chinese Football Association, CFA, Thomson Locations: BEIJING, Chinese, Nanjing

☆ Check out a ghost town of deserted Chinese mega-villas built for multimillionaires that's now overrun by farmers and left to rot
▼ + stars: | 2023-07-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Chinese farmers have moved into a cluster of abandoned villas in China to grow crops and rear cattle. Jade Gao/AFP via Getty ImagesThe half-built villas are now overrun by local farmers, who plow the land and plant crops on the overgrown lawns of abandoned villas. Local farmers now plow the land of the abandoned development. Jade Gao/AFP via Getty ImagesThe insides of the buildings look post-apocalyptic too, like shots straight out of "The Last of Us." Shenyang's ghost villas are just one of many "rotten" real estate projects across China's urban landscapeThe interior of a deserted housing sales building.

Persons: Jade Gao, —, riche, Guo, who's, Li Gan, Gan Organizations: Twitter, Service, AFP, Greenland Group, Getty, Getty Images, Texas, M University, Survey, Research Center, China Household Finance, Chengdu's Southwestern University of Finance, Economics Locations: China, AFP, Weibo, Wall, Silicon, Shenyang, China's, Liaoning province, Greenland, Evergrande, Li

☆ BYD seeks nod for $1 billion plan to build EVs and batteries in India
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: +2 min

China's BYD Co has submitted a $1 billion investment proposal to build electric vehicles and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. The longer-term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to luxury models, one of the three people said. BYD, the world's largest producer of EVs and plug-in hybrid vehicles, did not immediately respond to a request for comment. If the India investment is approved, it would give BYD a presence in all major global car markets with the exception of the United States. The investment proposal also includes a plan by BYD and Megha to set up charging stations in India and build research and development and training centres, the sources said.

Persons: China's BYD, BYD, Tesla, EVs Organizations: Auto, Reuters, BYD Locations: Shenyang, Liaoning Province of China, India, Hyderabad, hatchbacks, United States

CNN —For nearly 13 million high school students across China, Wednesday marks a day that could make or break their plans for college and the increasingly competitive job market beyond. A high score in the two-day “gaokao” college entrance exam is the only way to get into the country’s top universities, and most Chinese students only get one shot at the grueling test, unlike US students who can take the SAT several times. A user on Douyin, China’s version of TikTok, recalled taking the gaokao in 2000 when there were only about 3.75 million other test takers. The urban unemployment rate for 16- to 24-year-olds hit a record high of 20.4% in April, according to data released by the National Bureau of Statistics. And the rate could increase further, as a record 11.6 million college students are set to graduate this year.

Persons: gaokao, ”, TikTok, Fu Linghui, Xi Jinping’s Organizations: CNN, Getty, Authorities, Times, National Bureau of Statistics, NBS Locations: China, Shenyang, honking

☆ The stealth F-22 Raptor's days are numbered, and the Air Force is officially looking for designs for the fighter jet's next-gen replacement
▼ + stars: | 2023-05-18 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The Air Force is officially seeking designs for the next-gen fighter to replace the F-22 Raptor. "We will lose that edge if we don't move forward now," Frank Kendall, Air Force secretary, said. "No one does this better than the US Air Force, but we will lose that edge if we don't move forward now." There are two of these sixth-generation projects currently underway, one for the Air Force and the other for the Navy. The Air Force has pushed for the retirement of some earlier F-22s, but it has received pushback from Congress.

☆ Korean player held in China on suspicion of bribery - diplomatic source
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] Soccer Football - FIFA World Cup Qatar 2022 - Round of 16 - Brazil v South Korea - Stadium 974, Doha, Qatar - December 5, 2022 Brazil's Raphinha in action with South Korea's Son Jun-ho... Read moreBEIJING, May 15 (Reuters) - South Korean soccer player Son Jun-ho has been detained in China on suspicion of bribery, a Korean diplomatic source said on Monday. Son was detained on Friday, the source told Reuters. Son is an international player who represents Chinese Super League club Shandong Taishan, based in the northeastern province of Shandong. Son was currently in the custody of the Liaoning Public Security Department, which alleges that Son bribed a "non-government official", according to an official at South Korea's consulate-general in Shenyang. Reporting by Eduardo Baptista, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Deel Speed: The inside story of a $12 billion HR startup's breakneck growth
▼ + stars: | 2023-03-20 | by ( Rob Price | ) www.businessinsider.com time to read: +32 min

Insider spoke with more than 30 current or former Deel workers about the HR company's extraordinary rise, and the unconventional tactics that made it possible. "I think if you talk to anyone, they would say that Alex is the face but all decisions run through Phillipe," one former Deel worker told Insider. "They lose every employment and labor protection," Valerio De Stefano, a professor at Osgoode Hall Law School, said of independent contractors. Alex Bouaziz, Deel on Centre Stage during day two of Collision 2022 at Enercare Centre in Toronto, Canada. The company didn't have an internal human-resources team until sometime in 2021, by which point it had grown to hundreds of people.

☆ A Chinese city is offering couples almost $2,900 to have a third child and some others are giving newlyweds paid marriage leave to help boost the birth rate
▼ + stars: | 2023-02-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Chinese city of Hangzhou is giving $2,900 to parents welcoming a third child this year. Some other cities are giving almost 30 days of marriage leave to boost the birth rate. Meanwhile, the northeastern city of Shenyang is offering subsidies of up to $72 a month till a child is three years old. Chinese employees are typically entitled to three days of paid marriage leave. The push for babies comes after China's population started shrinking for the first time in six decades.

☆ After nearly 2 decades in service, the F-22 has its first air-to-air kills — neither against the jets it was designed to fight
▼ + stars: | 2023-02-10 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The F-22, the top US air superiority fighter jet, finally has it's first air-to-air kills. In a week, this jet downed a Chinese spy balloon and an unidentified "object" in two separate engagements. Neither kill was a jet that the F-22 was designed to fight. A US Air Force F-22 prepares for aerial refueling over the Nevada Test and Training Range on March 2, 2011. Despite having operational experience in Syria in the 2010s targeting Islamic State assets, the advanced fighter has never recorded a confirmed air-to-air kill, but now it has two.

☆ Why China's and Russia's 5th-generation stealth jets don't quite live up to the hype, according to a former US Navy pilot
▼ + stars: | 2023-02-10 | by ( Peter Suciu | ) www.businessinsider.com time to read: +6 min

Those jets have advanced features but aren't quite as advanced as US stealth jets, a former Navy pilot says. However, a copy of a fifth-generation fighter does not actually make it one. Russia's Sukhoi Su-57Russian Su-57 fighter jets. A Russian Su-57 fighter jet. Associated PressThough the Chinese and Russian aircraft are likely highly capable warbirds, some US aviation experts have suggested they shouldn't rightfully be considered "fifth-generation."

☆ China car sales plunge 38% in January as subsidies, tax cut end
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/BEIJING, Feb 8 (Reuters) - China's passenger car sales slumped 38% in January, reversing a 2.4% gain in the previous month, industry data showed on Wednesday, as demand weakened after a tax cut on combustion engine cars and subsidies on electric vehicles (EV) expired. Sales of new energy cars that include pure battery EVs and plug-in hybrids also fell 6.3% in January after a blistering 90% growth in 2022, the China Passenger Car Association (CPCA) said. "New energy car sales in January didn't meet our expectation, with a rare year-on-year decline in a single month sales," said Cui Dongshu, secretary general of CPCA in an online briefing on Wednesday. He said the Lunar New Year and the end of EV subsidies were among the factors leading to the decline. New energy vehicles accounted for a quarter of the total 1.3 million car sales in the month, CPCA data showed, down sharply from 35% in November 2022.

☆ China’s Covid wave threatens another snarl of U.S. medical supply chain
▼ + stars: | 2023-01-08 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +8 min

“We’re looking a lot for potential early warning signs in the medical supply chain for any kinds of disruptions,” said an administration official. “One major concern throughout the entire pandemic has been that because of China’s zero Covid policy, shutdowns greatly reduced manufacturing capacity in China. Despite efforts over the past two years by the Biden administration to bolster the country’s domestic medical supply chain, the complexity, costs and regulations involved in health care manufacturing has limited companies’ ability to shift production. I think that would be a natural response,” said Douglas Kent, executive vice president of corporate and strategic alliances at the Association for Supply Chain Management. Health care officials say they hope that the U.S. is in a better place to withstand any shocks from China.

☆ BioNTech ships COVID shots to China for use by Germans
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +3 min

BioNTech said it is working with Shanghai Fosun Pharmaceutical (600196.SS) to deliver the shots to greater China, with availability expected in Beijing, Shanghai, Guangzhou, Shenyang and Chengdu. China would need to approve expanding access beyond the about 20,000 German nationals, the source said on Wednesday. "Most of Chinese here got the BioNTech vaccine, the vaccine that was first available. SinoVac vaccine was not available in Europe," a first-generation Chinese expatriate who has lived in Europe for more than a decade told Reuters. The expatriate, who asked to remain anonymous to protect their family in China, said that the government there might only make BioNTech shots available to Chinese nationals if it came to the worst-case scenario.

☆ Chinese fighter jets flew near island, Taiwan says
▼ + stars: | 2022-11-13 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

China’s military flew 36 fighter jets and bombers near Taiwan, the Taiwanese defense ministry announced, part of a long-running campaign of intimidation against the self-ruled island democracy that Beijing claims as part of its territory. Ten of the aircraft on Saturday flew across the median line in the Taiwan Strait that separates the island from the mainland, the ministry said. Taiwan and China split in 1949 following a civil war that ended with the Communist Party in control of the mainland. Chinese President Xi Jinping’s government stepped up efforts this year to intimidate Taiwan. It has sent fighter planes and bombers to fly near the island and fired missiles into the sea.

☆ Take a look at the J-15 fighter jet, the $61 million copy of a Soviet plane picked to wage war from China's aircraft carriers
▼ + stars: | 2022-11-07 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +1 min

The Shenyang J-15 is China's carrier-borne fighter jet. J-15 fighter jet preparing to land on China's first operational aircraft carrier, the Liaoning, during a drill at sea. It was manufactured by the Shenyang Aircraft Corporation, a subsidiary of the state-owned defense conglomerate Aviation Industry Corporation of China. The J-15 is China's first carrier-borne fighter jet, meaning that it was primarily designed for China's growing fleet of aircraft carriers. These improvements led a Chinese military expert to suggest the fourth-gen J-15 could be considered a "fourth-generation-plus" fighter jet in discussions with China's Global Times.

☆ China Evergrande unit gets notice for $4.48 bln loan from Shengjing Bank
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Debt-laden property developer China Evergrande Group (3333.HK) said on Tuesday its unit received a notice of enforcement for unrecoverable funds from Shengjing Bank Co Ltd (2066.HK). The bank said it failed to recover funds totalling 32.595 billion yuan ($4.48 billion), which was provided to the unit from 2020 to 2021, according to Evergrande. In early September, state-owned companies of the Chinese northestern city of Shenyang bought Evergrande's shareholding in Shengjing Bank in an auction for 7.3 billion yuan. read moreThe Evergrande unit's 30.99% stake in Xinjiang Guanghui Industry Investment Group, which it had pledged to the bank has now been enforced, the notice said. Evergrande, which has about $300 billion in debt, said the pledged equity interest has not been auctioned or sold to a third party.

☆ BMW tests hydrogen burner in Leipzig paint shop, expands battery assembly lines
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LEIPZIG, Germany, Oct 20 (Reuters) - BMW (BMWG.DE) is testing a burner able to operate on both hydrogen and gas in its paint shop in Leipzig, the carmaker said on Thursday, as it also announced an 800-million-euro ($782 million) investment in new battery assembly lines at the plant. The burner, developed together with combustion technology firm Saacke with the aim of reducing carbon emissions in the production process, is able to switch from hydrogen to gas or vice-versa while in use. Carmakers looking to reduce dependence on Russian gas have been struggling to find a solution for how to power their paint shops without the fuel. Register now for FREE unlimited access to Reuters.com RegisterBMW already uses hydrogen in the production process at its Leipzig plant, with a fleet of hydrogen-powered trucks for logistics transport and five storage tanks on the premises. Also on Thursday, BMW said it was adding a third battery assembly line and five cell varnishing lines to the Leipzig plant by 2024, with two more high voltage battery assembly lines to follow after that.

☆ Housing might be struggling in China but there are green shoots in commercial property
▼ + stars: | 2022-09-13 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +7 min

Commercial property is a bright spot in Chinese real estate, in contrast with the doom and gloom of the residential housing market. Likewise, property group CIFI Holdings posted a 23% year-on-year drop in home sales in China for the first half, but reported a 69.5% lift in its property investment revenue. While some investors sold assets to stay liquid, Spiro said the commercial sector generally has more supportive government and fiscal policies. All in all, the Chinese commercial property sector's resilience lies in its ability to rebound faster than its residential counterpart. Down but not outBut unlike housing, the commercial sector is rebounding particularly after lockdowns ended and government incentives kicked in, CBRE said.

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