Shanghai — Shanghai, China’s largest city and financial hub, reported a significant 9.4% drop in retail sales for June, marking the city’s worst monthly figure since the pandemic lockdowns in spring 2022. This decline highlights ongoing weaknesses in domestic consumption within the city. The Shanghai Statistics Bureau noted that the primary driver of this decline … Read more
In the first half of 2024, Shenzhen recorded 66.8 million noncash payment transactions by foreigners, amounting to 8.7 billion yuan (US$1.2 billion). This represents an 85% year-on-year increase, according to data from the People’s Bank of China Shenzhen Branch, as reported by Shenzhen Special Zone Daily. Shenzhen has enhanced the payment experience for foreigners, facilitating … Read more
In the realm of public relations, whether for businesses, NGOs, or governments, the impulse to showcase a positive image is almost universal. For commercial enterprises, a rosy portrayal can attract customers and investors; charities can benefit from increased donations; and governments can enhance their credibility, facilitating smoother governance. However, overly optimistic portrayals can backfire. An … Read more
Shenzhen’s real estate market is showing promising signs of recovery, highlighted by the rapid sale of all 116 apartments in the new Haideyuan A estate on Sunday. Located in the Antuoshan area of Futian District, this development made headlines as the first project this year to achieve such swift sales, selling out in under three … Read more
In a creative attempt to secure employment amidst a challenging job market, a recent graduate from Wuhan University has turned himself into a walking advertisement by printing his resume on a T-shirt, delighting online observers. Song Jiale, 21, who recently earned a bachelor’s degree from Wuhan University’s School of Geomatics in Hubei province, central China, … Read more
As China approaches the critical flood control period from late July to early August, the Ministry of Water Resources is preparing to address the increasing frequency and intensity of river flooding caused by prolonged rain. Between Saturday morning and Sunday morning, 31 rivers across the country, including in Chongqing Municipality, Hubei Province, and Jilin Province, … Read more
The recent opening of the Shenzhong Link has significantly increased the number of travelers exploring both sides of the Pearl River Estuary, resulting in a surge in business for eateries on both ends. According to a report released Monday by e-commerce food delivery platform Meituan, the new transport link has notably enhanced food sales. In … Read more
Sales of distressed commercial real estate in Hong Kong surged in the first half of the year, accounting for approximately three-quarters of the total volume, according to property consultancy CBRE. This marks a significant increase from the typical less-than-10-percent share of such sales. The dramatic rise is attributed to the climbing interest rates, which have … Read more
Situated in Shatoujiao, Yantian District, the 250-meter-long Zhongying Street straddles the border between the Chinese mainland and Hong Kong, bearing witness to a pivotal chapter in Chinese history spanning more than a century. This January, a comprehensive renovation initiative led to the revitalization of the street, ushering in a wave of new restaurants and retail … Read more
Shenzhen has deepened cooperation with Kazakhstan in the digital economy, logistics, service trade, cross-border e-commerce, and new energy since 2013, when the Central Asian country became the first to support China’s Belt and Road Initiative (BRI). An increasing array of Shenzhen’s “smart manufactured” products and technologies have made their mark in Kazakhstan. By the end … Read more