Business
Crop Invaders: China’s Small Farmers Struggle to Defeat Armyworm
MENGHAI, China—Yan Wenliu leans on the side of his cart as he prepares to leave his sugarcane field in Southwest China, bewildered by the formidable new pest that has ambushed his crops this year.
“I don’t know what it is,” says Yan, a 36-year-old farmer from Menghai County in Yunnan Province. “But it is bigger than other ones. I have never seen this worm before.”
The creature Yan is unable to name is fall armyworm. Known locally as the “heart-devouring worm,” the destructive pest has spread more than 3,000 km (1,865 miles) north since migrating from neighboring Burma seven months ago, reaching 21 provinces and regions in China and posing a grave threat to grain output.
In Yunnan alone, where the pest struck first in China, some 1.29 million mu (86,000 hectares) had been affected by mid-June, including corn, sugarcane, sorghum and ginger crops.
First found in the Americas, fall armyworm has spread through Africa and Asia since 2016, flying up to 100 km (60 miles) a night. It can’t be eradicated and its management is both costly and difficult.
This poses a formidable challenge in China where about 90 percent of crop production comes from small farms of less than a hectare (2.5 acres) and owners lack basic knowledge and resources to tackle the pest.
Beijing warned earlier this year that armyworm was a severe threat to the country’s food security and in May launched a campaign to “snatch grain from the insect’s mouth.”
Millions of yuan have been allocated to affected regions and experts sent to educate farmers.
(Graphics: Fall Armyworm invasion of Asia IMG click https://tmsnrt.rs/2XYNbIX)
To those in Yunnan, the solution to the worm problem seemed obvious—pesticide. “You have…
Business
China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
The 2024 China Golden Rooster and Hundred Flowers Film Festival began in Xiamen on Nov 13, featuring awards, cultural projects worth 31.63 billion yuan, and fostering international film collaborations.
2024 China Golden Rooster and Hundred Flowers Film Festival Opens
The 2024 China Golden Rooster and Hundred Flowers Film Festival commenced in Xiamen, Fujian province, on November 13. This prestigious event showcases the top film awards in China and spans four days, concluding with the China Golden Rooster Awards ceremony on November 16.
The festival features various film exhibitions, including the Golden Rooster Mainland Film Section and the Golden Rooster International Film Section. These showcases aim to highlight the achievements of Chinese-language films and foster global cultural exchanges within the film industry.
On the festival’s opening day, a significant milestone was reached with the signing of 175 cultural and film projects, valued at 31.63 billion yuan ($4.36 billion). Additionally, the International Film and Television Copyright Service Platform was launched, furthering the globalization of Chinese film and television properties.
Source : China’s Golden Rooster film festival opens in Xiamen – Thailand Business News
Business
China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
China’s new home prices fell for the 17th month in October, declining 0.5% from September, but slowing, indicating potential market stabilization amid supportive measures. Second-hand home prices showed mixed trends.
Decline in China’s Home Prices Stabilizes
China’s new home prices continued to decline in October for the 17th consecutive month, although the drop showed signs of slowing. Recent support measures from Beijing appear to be inching the market toward stabilization, as evidenced by a lighter decline compared to earlier months.
Monthly and Yearly Comparisons
According to the latest data from the National Bureau of Statistics, new home prices across 70 mainland cities fell by 0.5% from September, marking the smallest decrease in seven months. Year-on-year, prices dropped by 6.2%, slightly worse than the September decline of 6.1%. In tier-1 cities like Beijing and Shanghai, prices decreased by 0.2%, a smaller fall than 0.5% in the previous month.
Second-Hand Home Market Trends
Second-hand home prices in tier-1 cities experienced a 0.4% increase in October, reversing a 13-month downward trend. Conversely, tier-2 cities observed a 0.4% drop in second-hand prices, while tier-3 cities faced a similar 0.5% decline. Overall, recent trends indicate a potential stabilization in China’s property market.
Source : China’s new home prices slow 17-month decline after support measures kick in
Business
Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.
Southern Sun Earnings Surge
Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.
China’s Property Market Recovery
In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.
Broader Economic Implications
The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.
Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24
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