Beijing-Shanghai High Speed Railway Co. Ltd. (601816.SH) expects to report its first quarterly loss since the railway operator went public in 2020 as train travel shrinks amid strict pandemic control ... ( read original story ...)
China’s Second Quarter Was Grim. Here’s What It Means for Its Stock Recovery.
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 ...)
China’s Henan bank scandal not just a financial crisis, it may be a lasting political calamity: analysts
China's central government must find ways to promptly repay the depositors or risk the effects of damaged public confidence, say scholars Depositors' lost US$6 billion is reminder to authorities that ... ( read original story ...)
Shanghai Records New Wave of Covid Cases as BA.5 Subvariant Spreads
Shanghai is battling a new Covid-19 outbreak as the financial hub records more than 430 cases in all 16 districts over the past 10 days, including infections from the more transmissible omicron BA.5 ... ( read original story ...)
Shanghai Aims To Achieve $446 Bln Digital Economy Through Web 3
The Shanghai Municipal Folks’s Authorities laid down its 14th five-year plan for the event of Shanghai’s digital financial system. Shanghai is taken into account the monetary capital of China. The ... ( read original story ...)