India seeks to ban Chinese phones that cost under $150

Economy 08/10/22, 02:25

Bloomberg reported on Aug. 8 that India is looking to ban Chinese made smartphones from its market that have a price tag of less than $150. India is driven to ban Chinese players from the cheap smartphone market and protect domestic producers from competition. Unidentified sources said there had been worries ...

Chinese regime on the brink: Chinese millionaires flee to Singapore

Economy 08/09/22, 12:54

The rigid restrictions of the zero COVID policy, the CCP's tense relations with the United States over Taiwan caused China's stock markets to plummet. The economic crisis and the risks of a recession caused many of China's high-net-worth individuals to leave the Asian country in search of better living and ...

Chinese consumers selling their luxury goods amid economic downturn

Economy 08/09/22, 03:44

The crisis engulfing the Chinese economy now coupled with repeated pandemic prevention and control has hit all industries severely including the luxury brand sector. Luxury stores and their derivative second-hand ones are closing. People are selling their luxury goods amid the cash crunch. Tian Ge, a famous online luxury appraiser, said ...

Tencent cuts losses by reducing its stake in Huayi Brothers

Economy 08/09/22, 03:06

Tencent has recently sold its shares of Huayi Brothers Media Co. Ltd. (Huayi Brothers). It reduced more than 80 million shares in three days, and the average selling price was only $0.33 per share. The loss was heavy compared with the share price when Huayi Brothers were acquired. On the evening ...

Chinese semiconductor bosses under investigation amid heated chip race with US

Economy 08/08/22, 03:04

According to The Epoch Times, eight Chinese officials in the semiconductor industry were fired and under investigation last month. Most are high-profile figures in a Chinese chip monitoring agency and a major state-run chip investment fund.   The Central Commission for Discipline Inspection, China's anti-corruption watchdog, and state-controlled media outlets announced the ...

China: The housing vacancy rate is alarming

Economy 08/08/22, 02:50

Over the past several decades, China has developed many real estate projects and built many houses. But in recent times, the housing vacancy rate has been alarming. On August 5, Shell Research Institute released the 2022 Survey Report on Housing Vacancy Rates in China's Major Cities. The survey shows that the ...

Hong Kong: affected by pandemic, homeless numbers rise to 10-year high

Economy 08/08/22, 02:48

Homelessness often serves as a mirror for the systemic failures that can arise when social issues are ignored. The COVID pandemic has caused an economic downturn in Hong Kong, where many people end up living on the streets. The South China Morning Post cited official statistics, reporting that Hong Kong faces ...

China’s economy continues to slump, and people are selling luxury goods

Economy 08/07/22, 15:39

China's economic decline, combined with repeated pandemic prevention measures and control, has created a negative impact on various industries. Many second-hand luxury stores closed down, and some women have sold their name brand items to support their husbands' crumbling businesses. According to a report by Shanghai Hotline, the price of Hermès, ...

Western monetary policy tightening could hamper China’s economy

Economy 08/07/22, 04:22

According to VOA, interest rate hikes in Western economies, including the United States, could bleak China's economic growth outlook. The U.S. Federal Reserve Bank (Fed) 's decision to increase the interest rate means that the U.S. dollar will have a higher rate of return, and the U.S. will attract more capital. ...