21 h. ago Kenya’s plan to switch debt payments from US dollars to yuan is a ‘win

Kenya’s plan to convert its US dollar-denominated Chinese debt to yuan is a “win-win”, as it is expected to reduce interest payments for the African nation while advancing China’s goal of increasing the global use of its currency, according to analysts. The deal would be precedent-setting and could establish a new rule book for future debt restructuring and possibly cut reliance on the US dollar. In late August, Kenya’s Treasury announced that talks with the Export-Import Bank of China were at...

Economics

28 h. ago Chinese province floats new use for digital yuan: paying long

China is mulling the application of its digital yuan – the central bank-backed currency also known as the e-CNY – to tackle persistent payment defaults, a move that would broaden the asset’s scope beyond the set of use cases explored by Beijing since the currency’s launch in 2019. Authorities in the central province of Hunan touched upon the subject when detailing plans to expand the digital currency’s application scenarios and scale, according to a document published last month. Hunan will...

Politics

40 h. ago Chinese provinces prep for business trips to US amid shaky tariff truce

More Chinese entrepreneurs and local government representatives could soon be packing for New York and California, aiming to take advantage of a recent stabilisation in US-China relations to hop across the Pacific and scout out potential trade and investment opportunities. Visits by delegations from China in the coming months will seek to leverage the pro-business amity and autonomy of local authorities in the US to advance economic ties, as Beijing encourages subnational exchanges. China’s...

Economics

47 h. ago China family left let down after spending US$140,000 on lavish panda

The experience of a Chinese family who spent an extravagant 960,000 yuan (US$140,000) on a luxury “Panda Express” train tour has shocked many people online. The lavish purchase has sparked a lively discussion because of claims that the experience promised in promotional materials fell far short of the reality. On August 25, a Chinese netizen posted a video revealing that their family, from Jilin province in northeastern China, embarked on a 17-day “Panda Express Tour” in July. The 26-member...

Economics

47 h. ago China family feel let down after spending US$140,000 on lavish panda

The experience of a Chinese family who spent an extravagant 960,000 yuan (US$140,000) on a luxury “Panda Express” train tour has shocked many people online. The lavish purchase has sparked a lively discussion because of claims that the experience promised in promotional materials fell far short of the reality. On August 25, a Chinese netizen posted a video revealing that their family, from Jilin province in northeastern China, embarked on a 17-day “Panda Express Tour” in July. The 26-member...

Economics

4 d. ago China wife ‘depressed’ after window cleaners see her asleep naked; demands rent cut

A woman in China has developed depression after two male window cleaners saw her asleep naked in her home. The woman and her husband live in Port Apartment, a high-end housing estate in Chengdu, in southwestern Sichuan province. They pay 10,000 yuan (US$1,400) a month in rent. Her plight captivated mainland social media after her husband, surnamed Cheng, exposed the situation online in the middle of August. The couple said they were not satisfied with the manner in which the property management...

Politics

5 d. ago Young Chinese are seeking their fortune in Southeast Asia. Will they find it?

Kent Cai, a Chinese entrepreneur based in the eastern province of Zhejiang, made a major life decision earlier this year by moving abroad to pursue a PhD. While this is not uncommon, his destination of choice might appear unusual – he did not, as many of his peers, relocate to the United States or Europe. He went to Malaysia. Upon arriving on campus in Kuala Lumpur to study the application of AI-driven tools in media production, Cai noticed he was not the only one to make such a move. He is, in...

Politics

5 d. ago Why Chinese students are flocking to Southeast Asia for degrees, employment

Kent Cai, a Chinese entrepreneur based in the eastern province of Zhejiang, made a major life decision earlier this year by moving abroad to pursue a PhD. While this is not uncommon, his destination of choice might appear unusual – he did not, as many of his peers, relocate to the United States or Europe. He went to Malaysia. Upon arriving on campus in Kuala Lumpur to study the application of AI-driven tools in media production, Cai noticed he was not the only one to make such a move. He is, in...

Politics

1 week ago China court cancels auctioning of cat to repay owner debts, feline gets loving home

A court in eastern China which was set to auction a cat to repay its owner’s debts has cancelled the event, and the animal has been adopted by a feline lover. On August 23, the cat was removed from the auction platform after creditors withdrew their request, no reason for the move was disclosed. According to Hongxing News, the cat has been adopted by a cat lover. The auction had garnered over 450,000 views and attracted more than 5,000 bidders, each of whom was required to pay a 50-yuan deposit,...

Economics

1 week ago Investigation under way into fatal bridge collapse in Qinghai province

Four people remained missing on Sunday after a railway bridge collapsed in the northwestern Chinese province of Qinghai, killing 12 people. The central government has sent a task force to investigate the failure, which occurred on a section over the Yellow River at about 3am on Friday, according to state broadcaster CCTV. The report said 16 workers were on the Jianzha Yellow River Super-large Bridge carrying out a tensioning operation when a steel cable snapped. According to media reports, a...

Events

2 w. ago Chinese man’s affair exposed when store notifies wife about payment for the pill

A Chinese man in southern China who attempted to secretly purchase birth control pills inadvertently exposed his extramarital affair when his e-payment failed, prompting staff to contact his wife for payment. The man, whose name has not been disclosed, posted a video stating that he visited the Pinggang branch of Dashenlin Pharmacy in Yangjiang, Guangdong province, and tried to pay for contraceptive pills using his mobile payment code. However, due to a “system problem,” the payment of 15.8 yuan...

Politics

2 w. ago Married Chinese man dies after hotel sex with lover; his family seeks US$77,000

A court in China has ordered a woman to pay 62,000 yuan (US$8,600) in compensation to the family of her married lover who died after having sex with her in a hotel room. The reason for the death of the 66-year-old man, surnamed Zhou, was acute myocardial infarction, according to a medical certificate issued by a local hospital, according to Red Star News. Hours before his death, Zhou had sex with his lover, identified as Zhuang, at a hotel in Pingnan county, Guangxi Zhuang autonomous region,...

Society

3 w. ago Beijing seeks to deter as it expands presence in waters near Philippines, Taiwan

China has extended its maritime presence to rarely patrolled waters, with two Chinese coastguard vessels spotted near the northernmost province of the Philippines last week, close to Taiwan. The Philippine Navy on Monday said the Chinese ships were seen “meandering” in waters off Batanes on August 7, Philippine media reported. Batanes is an archipelago located closer to southern Taiwan than to Manila and sits within the Bashi Channel – a critical maritime chokepoint that would have strategic...

Politics

3 w. ago Why are mainland DSE pupils willing to pay up to HK$22,000 for university advice?

Mainland Chinese students taking Hong Kong’s university entrance exams are willing to pay up to 20,000 yuan (US$2,785) for advice on which tertiary institution to apply to, a consulting company has said. Teachers also observed that mainland students tended to place greater emphasis on the global ranking of institutions than their Hong Kong counterparts, who were more likely to choose undergraduate programmes based on their interests. A university application adviser on the mainland charges...

Economics

3 w. ago Mainland Chinese schools charging pupils up to 334,000 yuan for Hong Kong DSE

More than 40 schools in five mainland Chinese cities and provinces offering Hong Kong’s university entrance exam curriculum charge at least 100,000 yuan (US$13,925) in annual tuition, with fees of as much as 334,000 yuan at one, the Post has found. The schools, in Guangdong, Beijing, Shanghai, Jiangsu and Zhejiang, also generally charge additional boarding and meal fees that total thousands of yuan each year, according to the institutions. The 45 schools examined by the Post are among 68 that...

Politics

3 w. ago Mainland Chinese schools charging pupils up to HK$365,000 for Hong Kong DSE

More than 40 schools in five mainland Chinese cities and provinces offering Hong Kong’s university entrance exam curriculum charge at least 100,000 yuan (US$13,925) in annual tuition, with fees of as much as 334,000 yuan at one, the Post has found. The schools, in Guangdong, Beijing, Shanghai, Jiangsu and Zhejiang, also generally charge additional boarding and meal fees that total thousands of yuan each year, according to the institutions. The 45 schools examined by the Post are among 68 that...

Politics

3 w. ago China hotel offers guests dog companions for US$70 a night, with bite compensation

A hotel in central China has attracted attention on social media by launching a “pet sleep-accompanying” service. However, the service has come with a warning from a lawyer that the hotel will have to bear full responsibility if the canines bite anyone. Biguiyuan Phoenix Hotel in Wuhan, Hubei province began offering the service at the beginning of July. After paying 499 yuan (US$70) for a pet-themed room and signing an agreement with the hotel, customers can choose a dog which will accompany...

Politics

4 w. ago China concert storm after organisers offer ‘free’ tickets for calf adoption

A controversial “get good seats by adopting calves” scheme put in place for a sell-out concert by one of China’s top entertainers has caused a stir on mainland social media. Actor and singer Yi Yangqianxi’s concert sparked a nationwide ticket-buying frenzy. But a public welfare project has captivated social media by offering tickets for privileged seats for people who pay 120,000 yuan (US$17,000) to adopt 12 calves. Yi, 24, who is also known as Jackson Yee, is regarded as the most accomplished...

Events