China’s luxury sector is in decline, with an increasing number of wealthy people selling their designer handbags or watches for extra cash. China observer Xia Yifan told The Epoch Times on Aug. 5 that Chinese consumers, including the wealthy, are reluctant to buy luxury items because they don’t have enough money and even have to sell…
Wealthy Chinese Selling Their Luxury Items for Quick Cash Amid Economic Downturn
Mainlanders Think CCP’s Private Retirement Plan Indicates Social Insecurity
Beijing announced its pilot scheme of private retirement plans, with the participation of four large, state-owned banks, that will be launched in November in five cities. Chinese netizens expressed their distrust of the Chinese banks, and an economist said the plan is a way to cover up the failing economy. The officials claimed the new…
80,000 Tourists Stranded in Hainan as COVID-19 Sweeps China’s Resort Island
August 9, 2022
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Asia & PacificCCP VirusChinaChina Business & EconomyChina COVID-19Chinese RegimeCOVID-19HainanINSIDE CHINAreporterssanyaSocial IssuesWorld
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Chinese authorities locked down at least nine cities on the tourist island of Hainan on Aug. 8 as a COVID-19 outbreak was detected. Over 80,000 tourists and six professional soccer teams are unable to leave the far southern province and are facing higher hotel rates. The lockdown has left the streets of Hainan’s capital, Haikou,…
Beijing: The Population of China Starting to Decrease
August 8, 2022
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Analysisbirth rateChinaChina Business & EconomyChinese Regimefertility rateOpinionpopulation declinereporters
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News Analysis The Chinese regime declared on Aug. 1 that China’s population has begun to decline, and the problems of aging and low birthrate have become worse. This is the first time that Beijing has announced its population is in a phase of negative growth since the Chinese Communist Party (CCP) took power in 1949….
China’s Economy Slumps Further, According to New Data, Raising Fears of Layoffs
August 8, 2022
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Both official and independent data show that China’s economy has slumped further in the second quarter of the year, with manufacturing slowing down unexpectedly and a downturn in the real estate sector intensifying. This has raised fears of a wave of layoffs in the second half of the year adding to already severe unemployment issues in China….
China Locks Down World’s Largest Wholesale Hub, South China Sea Port Due to New COVID-19 Outbreak
August 7, 2022
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Asia & PacificCCP VirusChinaChina Business & EconomyChinese Regimeglobal supply chainINSIDE CHINAOmicronsanyaSpecial Topicswholesale hubWorldYiwu
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The Chinese communist regime has put the world largest wholesale hub, Yiwu city in east China, under semi lockdown due to a new outbreak of COVID-19. Meanwhile, “China’s Hawaii” in the South China Sea has also locked down due to a sudden outbreak. The new lockdowns have renewed concerns for disruptions to global trade and…
US Expands China Chip Ban, Weighs Blacklisting of Top Chinese Chipmaker
August 6, 2022
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Asia & PacificChinaChina Business & EconomyChinese RegimechipcongressExecutive BranchNANDPoliticssemiconductorTaiwantechnologyThreat from Communist ChinaUSUS-China relationsWorldYMTC
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The United States has expanded its ban of exports to China of equipment that can make semiconductors up to 14 nanometers in size, and is considering plans to restrict NAND flash memory chip exports as well as blacklist a major Chinese memory chip maker, as China’s ruling communist party continues its aggressive posturing toward other…
Chinese-Made Portable Power Banks Can Spy on Users: Report
Mainland Chinese media recently revealed that China-made portable power banks can eavesdrop on and locate users. They are available on the Chinese market and are not regulated by the regime. The periodical Ban Yue Tan reported on July 27 that in recent years, power banks that can eavesdrop, position individuals, and have other functions that…
Eight Chinese Officials Sacked in Semiconductor Chip Industry
At least eight senior officials in China’s semiconductor chip industry were sacked in the past months. The Chinese Communist Party’s (CCP) watchdog—Central Commission for Discipline Inspection (CCDI)—announced most of the cases in late July, while state-run media announced some other cases. Both CCDI and the media said the eight officials were under investigation. “Under investigation”…
Wealth Flaunting Incident Reveals Family Nature of CCP State Enterprises
August 5, 2022
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CCP corruptionChinaChina Business & EconomyChinese RegimeFinance & Business TiesSpecial TopicsState-owned enterprise
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A recent wealth flaunting incident by a state-owned enterprise (SOE) employee, which has been a hot topic on the Chinese internet, has unexpectedly brought to light the underlying institutional corruption in the CCP. The young man in the spotlight was Zhou Jie. On July 25, someone broke the story that Zhou had posted messages on…
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