China released its May national housing price data on June 15. Beijing and Shanghai had the largest fall in second-hand home prices among 70 large and medium-sized cities. The price of second-hand homes in Shanghai fell by 0.8 percent compared with the previous month, the largest drop among cities surveyed, and Beijing fell by 0.6…
Beijing and Shanghai Record Largest Decline in Second-Hand Home Prices
Chinese Owner of Temu Moves HQ to Ireland as Consumers Increasingly Wary of China
May 14, 2023
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Chinese e-commerce giant PDD Holdings, which owns Temu, has moved its official headquarters from China to Ireland in recent days. As aggression from communist China continues to inflame tensions with the West and liberal democratic nations, more and more Chinese companies are trying to downplay their China-ties amid increasing aversion to the Chinese Communist Party…
Chinese Authorities Question Staff of US Consulting Firm Bain
Chinese authorities questioned Bain & Company’s employees in Shanghai, the company said, less than a month after Chinese police detained staff and raided the office of another U.S. due diligence firm in Beijing. A spokesperson of Bian told The Epoch Times on April 27 that “the Chinese authorities have questioned staff in our Shanghai office.”…
Shanghai’s Commercial Attractiveness Wanes as a Population Crisis Emerges
News Analysis Shanghai, the once prosperous commercial capital of China, is no longer the county’s top industrial city, according to the latest statistics. Meanwhile, the city lost at least a quarter million migrant workers amid the implementation of its draconian COVID-induced policies, local authorities say. As the most populous metropolis in China, Shanghai was an…
Tesla to Build Shanghai Factory to Make Megapack Batteries
SHANGHAI—Tesla Inc. is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday. The news was first reported by the Chinese state media outlet Xinhua. Elon Musk’s automaker will break ground on the plant…
Saudi Arabia Joins Shanghai Cooperation Organization as Ties With China Grow
April 2, 2023
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ChinaChina Business & EconomyInternationalInternational RelationsMiddle EastpartnershipSaudiShanghaiUSWashingtonWorld
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RIYADH—Saudi Arabia’s cabinet approved on Wednesday a decision to join the Shanghai Cooperation Organization, as Riyadh builds a long-term partnership with China despite U.S. security concerns. Saudi Arabia has approved a memorandum on granting the kingdom the status of a dialogue partner in the Shanghai Cooperation Organization (SCO), the state news agency SPA said. The…
Stifled by Politics, Beijing and Shanghai Fall in Rankings of International Financial Centers
March 31, 2023
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BeijingCentral Financial CommissionCentral Financial Work CommissionChinaChina Business & EconomyChinese economyChinese Regimeinternational financial centresShanghaiSocial Issueszero-COVID
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Shanghai and Beijing have both fallen sharply in the latest ranking of the world’s most competitive financial centers. The dynamism of China’s financial sector has waned markedly in part due to the Chinese Communist Party (CCP)’s recent policies, and the trend is intensifying. With the outbreak of the pandemic in early 2020, CCP authorities implemented…
Shenzhen Becomes China’s Largest Industrial City as Shanghai Declines
For many years, China’s top three industrial cities were Shanghai, Shenzhen, and Suzhou, in that order. However, as Shanghai implemented Beijing’s draconian zero-COVID policy last year, the city’s GDP by industry fell, and Shenzhen overtook Shanghai to become the No. 1 industrial city in China. According to China’s recently released 2022 GDP ranking of the top…
Internal Document Shows China Facing Another Wave of COVID-19 Infection as Fever Wave Hits Schools Across the Country
February 26, 2023
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An internal Chinese metro system document reveals that China is embracing another wave of COVID-19 outbreak, as a fever wave hits Chinese schools across the country, causing many class suspensions. Ms. Liang, who works in the Shanghai Metro system, told The Epoch Times on Feb. 21 that the Shanghai Metro epidemic prevention measures are being…
Shangri-La to Shanghai | Tough Rides Season 1 Ep6
February 22, 2023
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The closure of the Eastern Tibetan border forces the Pyle brothers to travel by plane, reconnecting with their bikes in Shangri-La. From here, they head to Guizhou Province. …
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