The risk of the Chinese ecnomy going into a tailspin has increased, with the country's realty sector facing a crisis due to extreme borrowings by construction contractors, reported Channel News Asia.
Atleast 250 people have been killed in the powerful 5.6 magnitude earthquake that jolted Indonesia's main island of Java. The epicentre of the 5.6 magnitude earthquake was near the town of Cianjur in mountainous West Java, about 75km (45 miles) southeast of the capital, Jakarta. The region is home to over 2.5 million people.
Beijing [China], December 11 (ANI): China's domestic air traffic is faltering because of the zero-COVID policy that has led to tighter travel rules in Beijing resulting in weaker consumer confidence after repeated small outbreaks of COVID.
Beijing [China], September 20 (ANI): Amid the increasing pressure over unpaid loans, China's property giant Evergrande Group's has started a repayment plan for its wealth management products through properties.
Beijing [China], September 14 (ANI): China's top developer firm Evergrande is under immense pressure as anxious investors recently protested at its Shenzhen headquarters and demanded repayment of loans and financial products, a media report said.