A Chinese Property Giant Warns of ‘Tremendous’ Financial Pressure

China Evergrande, the troubled property giant that has become a symbol of debt and excess in the world’s second-largest economy, said on Tuesday that it faced “tremendous” financial pressure and had hired restructuring experts to “explore all feasible solutions” for its future. The company’s fate, however, remains unclear, as it

British sportscar maker Lotus plans China sales expansion to take on Porsche

FILE PHOTO: A Lotus sign is seen at the car plant headquarters in Hethel, Britain June 23, 2021. Picture taken June 23, 2021. REUTERS/Dylan Martinez/File PhotoBEIJING (Reuters) – British sportscar maker Lotus plans to open up to 70 showrooms in China by 2024 and start production at its new Wuhan

China's economy under pressure as factory activity slows in Aug, services contract

BEIJING (Reuters) – China’s businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while the services sector slumped into contraction, raising the likelihood of more near-term policy support to boost growth.FILE PHOTO: A worker wearing a face mask works on

As Chinese Vaccines Stumble, U.S. Finds New Opening in Asia

SINGAPORE — The arrival of the Chinese vaccines was supposed to help stop the spread of the coronavirus in Southeast Asia. Instead, countries across the region are quickly turning elsewhere to look for shots. Residents in Thailand vaccinated with one dose of China’s Sinovac are now given the AstraZeneca shot

China says it will provide 2 billion vaccine doses to the world.

By Sui-Lee Wee China’s top leader, Xi Jinping, said the country would provide two billion Covid-19 vaccine doses to the world this year and would donate $100 million to a global effort to distribute the doses to developing countries, as Beijing attempts to take on a more prominent leadership role

Influencers trying to ‘save more lives’ busted for stealing rescue boats

A group of wannabe celebrities have clashed with rescuers after they allegedly stole an inflatable boat to film for online content at a flood-hit city in China. The country's central Henan province has been engulfed by severe flooding after the region was hit by heavy rainfall last month. About 50

China's escalating property curbs point to Xi's new priority

BEIJING (BLOOMBERG) – After a years-long campaign to tame property prices, China is upping the ante to break a stubborn cycle of gains that has made homes increasingly unaffordable. In recent days, China raised mortgage rates in a major city, vowed to accelerate the development of government subsidised rental housing and

Disaster recovery in rain-lashed central China shifts up a gear

ZHENGZHOU, China (Reuters) – Disaster recovery in rain-battered Zhengzhou in central China moved up a gear on Friday as floodwaters that deluged the city of 12 million began to recede, helping rescuers reach the trapped and stranded.Slideshow ( 3 images )In neighbourhoods still immersed in waist-high water, rescuers used digger

COVID-19: China shuts down city of 9.3 million after 17 cases found – as it rejects WHO call for Wuhan lab investigation

China has shut down a city of 9.3 million people over 17 COVID-19 infections, while a proposed second phase of a World Health Organization (WHO) investigation into the origins of the virus has been rebuffed. Residents of Nanjing will not be allowed to leave without producing a negative COVID test