Business
Locusts, Rodents, Floods Destroy Crops in China’s Yunnan Province
Southern China has suffered the worst natural disasters in decades this year. Farmers in Yunnan Province said that in addition to the floods, the ongoing locust plague and rodent infestation have damaged nearly all the crops.
According to a report by South China Morning Post on Aug. 30, “the swarms of yellow-spined bamboo locusts crossed the border in late June and have since made their way northwards. … As of August 17, 11 counties in the province had been hit with 106 square kilometers (41 square miles) affected.”
According to a July 10 report by the regime’s mouthpiece Xinhua News, the Chinese experts claimed that the locust plague in the southern region of China is “under control.”
Pu’er city, in southern Yunnan, was reported to have had more than 28 square miles (73 square kilometers) of farming areas covered by invading locusts by the evening of July 9.
Ms. Ni from Tongguan town, Mojiang county in Pu’er told The Epoch Times that on July 29, a large group of locusts migrated to the local area and left two or three days later. The bamboo was seriously affected. “A group of locusts flew past (here), resting on bamboo. There were more than 3,000 locusts on a cluster of bamboos (about 20 bamboos) and it looked like a nest. Later, it was wiped out with pesticide to prevent it from laying eggs there,” she told the publication on Aug. 30.
Ms. Ni said that the locust mainly harms bamboo and corn. Since the local area is far from the border of Laos, where the locusts migrated from, the corn is not yet affected.
But she is worried about the corn field. She explained that in mild scenarios, the corn leaves would be gone, and in the most serious case, there would be zero corn harvest. Ms. Li said that the situation in Jiangcheng county in Pu’er is more serious due to its close proximity to Laos.
An employee of a courier company in Jiangcheng county told The Epoch Times that some local crops have been completely destroyed by the invading locusts. “Swarms of locusts attacked the grain field, and munched on the ears of rice. It looks like a grasshopper, five…
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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