Category: China

Asia

China Pumps US$54 Billion Into Banks and Insurers in Major Financial Powerhouse Push

BEIJING — China has unveiled a massive 360 billion yuan (US$54 billion) capital injection into some of its biggest state-owned banks and insurers, marking one of Beijing's most significant efforts in years to strengthen the country's financial system. The sweeping package is designed to reinforce the capital buffers of major financial institutions, ease pressure on insurers and banks, support lending and investment, and advance President Xi Jinping's long-term ambition of turning China into a g

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Asia

Typhoon Saudel Triggers Deadly Mudslide in China: Death Toll Rises as 9 Remain Missing

BEIJING — The death toll from a mudslide triggered by days of torrential rain from Typhoon Saudel has climbed to three in Jiangxi province, eastern China, while nine others remain missing as rescue teams continue searching through damaged homes and debris. The mudslide struck part of a village in Suichuan County, Ji’an City, early Saturday, September 5, after persistent heavy rainfall saturated the area. About a dozen houses were damaged in the disaster, according to Chinese state media cited b

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Asia

China’s Property Reset Has Begun: Why Beijing Is Dismantling Housing Presales Without Killing Them Overnight

BEIJING — China is finally moving away from the housing system that helped fuel one of the biggest property booms in modern history. But Beijing is not pulling the plug overnight. For decades, Chinese developers have relied heavily on selling apartments before construction was completed. Buyers would put down deposits, take out mortgages and begin paying for homes that often existed only on paper. The system powered a spectacular building boom. It also helped create a dangerous cycle of debt

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Asia

China Is Producing More Cars, Batteries and Goods Than Ever — But the Numbers Reveal Why the West’s ‘Overcapacity’ Case Isn’t So Simple

BEIJING/WASHINGTON/BRUSSELS — A battle over Chinese factories has rapidly become one of the biggest economic confrontations of 2026. Washington says China is producing too much. Europe says a flood of subsidized Chinese goods threatens its industrial base. Beijing says Western governments are using the language of “overcapacity” to disguise protectionism against increasingly competitive Chinese companies. And the numbers suggest an uncomfortable conclusion: there is evidence supporting parts

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Asia

China Raises Tibet Flood Toll to 43 Dead, 519 Missing — But Rescuers Are Still Digging Through What Used to Be Gyirong Port

GYIRONG, Tibet — Eleven days after a massive ice-and-rock collapse high in the Himalayas sent a wall of mud, water and debris racing toward the China-Nepal border, the disaster is still giving up its dead. China on Sunday raised the confirmed death toll on the Tibetan side from 31 to 43, while 519 people remain missing, according to the latest count announced by Chinese authorities and carried by Xinhua. The numbers alone are grim. But what rescuers are confronting at Gyirong Port helps expla

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Asia

China Warns of ‘Consequences’ as Taiwan Appears at Pacific Summit — But Palau Says Beijing Doesn’t Choose the Guest List

KOROR, Palau — A gathering designed to showcase Pacific unity instead became the latest arena in the escalating diplomatic contest between China and Taiwan, after Beijing warned of unspecified “consequences” over the presence of Taiwan’s foreign minister at the region’s most important political summit. Chinese special envoy for Pacific island affairs Qian Bo confronted the issue after Taiwan’s Foreign Minister Lin Chia-lung attended the opening ceremony and other activities associated with the

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Asia

China Just Sent Its ‘National Team’ Back Into the Stock Market With $8.9 Billion — But the Problem Beijing Can’t Buy Away Is Getting Bigger

BEIJING — China has once again reached for one of its most powerful tools for calming a falling stock market: state money. After a brutal technology-led selloff erased roughly 10 trillion yuan, or about $1.48 trillion, from mainland Chinese market value in two weeks, two major state-owned investment groups disclosed that they had deployed around 60 billion yuan — approximately $8.9 billion — into Chinese shares. The intervention helped stabilize markets temporarily. But it also exposed a much

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Asia

50 Years After Mao Zedong’s Death, China’s Young Are Turning Back to Him — But What They’re Remembering May Be More Important Than Mao Himself

NANJIE, China — Half a century after Mao Zedong’s death, China has transformed almost beyond recognition. Skyscrapers have replaced communes, private enterprise drives much of the economy, and Chinese companies compete at the frontiers of electric vehicles, artificial intelligence and advanced manufacturing. Yet Mao is far from disappearing. As China approaches the 50th anniversary of Mao’s death on September 9, 2026, the revolutionary leader’s image is again resonating with some young Chinese

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Asia

Chinese Worker Found Alive in a Nepal Tunnel After 10 Days — But What He Told Rescuers Could Send Them Deeper Underground

Chinese Worker Found Alive in Nepal Tunnel 10 Days After Catastrophic Flood — But Hundreds May Still Be Trapped Underground Chinese national Lu Haitao was pulled alive Saturday from inside a 225-meter tunnel at the Upper Trishuli-1 Hydropower Project in Rasuwa district, according to Nepal’s military and government authorities. The Japan Times, carrying the breaking report, described him as the third worker rescued alive from hydropower tunnels since the Aug. 26 catastrophe. Reuters reported th

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Asia

50 Years After Mao Zedong’s Death, China’s Young Are Turning Back to Him — But What They’re Remembering May Be More Important Than Mao Himself

NANJIE, China — Half a century after Mao Zedong’s death, China has transformed almost beyond recognition. Skyscrapers have replaced communes, private enterprise drives much of the economy, and Chinese companies compete at the frontiers of electric vehicles, artificial intelligence and advanced manufacturing. Yet Mao is far from disappearing. As China approaches the 50th anniversary of Mao’s death on September 9, 2026, the revolutionary leader’s image is again resonating with some young Chinese

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