Most economists expect a contraction in real economic activity as a result of the harsh lockdowns that brought Shanghai and Beijing to a standstill in the second quarter and continued trouble in the ... ( read original story ...)
$49 left in bank account: Cleaner loses $330k of life savings to ‘China police’ scammers
It took several letters and a phone call from a 'Shanghai police officer' to convince Zhang Han Cheng that he was in serious trouble with the law — even though he had never been there.The 62-year-old ... ( read original story ...)
Balance of loans in Shanghai rises at end of June
The balance of loans in Chinese yuan reached 9.29 trillion yuan at the end of June, up 11 percent year-on-year, according to t Shanghai Head Office. The balance of foreign currency loans stood at $112 ... ( read original story ...)
Shanghai issues another rare extreme heat warning
For the third time this summer, Shanghai issued its highest alert for extreme heat as temperatures appeared set to test records in China's most populous city on Thursday. ( read original story ...)
China banks, property stocks slump as more homebuyers stop mortgage payments
Over the past weeks, a rising number of homebuyers have collectively threatened to halt mortgage payments to banks if developers do not resume construction of pre-sold homes, according to official ... ( read original story ...)
Shanghai issues third heatwave red alert for this summer
Shanghai, China's financial hub, issued its third heatwave red alert for the summer on Thursday, signalling temperatures will rise to 40 degrees Celsius (104 degrees Fahrenheit) over the next 24 hours ... ( read original story ...)
Shanghai gives nod to NFT trading platforms
After flagging concerns over the financial risks associated with non-fungible tokens, some of China’s authorities are putting forward guidance on how to best make use of the novel technology. The ... ( read original story ...)