China’s mortgage rate cut for existing properties will hardly make any impact for Ivy Cai, as the Shanghai-based homeowner is facing the burden of a 15,000 yuan (US$2,131) monthly repayment. She is expected to save a few hundred yuan per month once the rate cut, announced on Tuesday as part of a bumper round of…
The People’s Bank of China (PBOC) plans to set up a swap facility that would give non-bank financial institutions access to at least 500 billion yuan (US$71 billion) in funding to buy shares, in a surprise move aimed at stabilising the stock market. However, some analysts called for more drastic action to shore up investor…
The number of non-locally trained doctors working at Hong Kong’s public hospitals will reach 300 by the end of the year, including about 70 under an exchange programme with mainland China and Macau, health authorities have said. The Hospital Authority chairman Henry Fan Hung-ling said on Monday that officials had spoken with their mainland and…
Chinese singer Zhang Jie inadvertently revealed a random phone number as his own during a concert, resulting in a surge of calls to an unsuspecting Shanghai resident. The 41-year-old made his television debut by winning the mainland reality singing competition My Show in 2004 and was later signed by Universal Music China. Zhang’s cheerful personality…
It’s 1 a.m. and Thomas Wu is riding his bike on the empty streets of Shanghai. The 43-year-old insurance executive has had another meltdown. Wu’s pay has been slashed by 20% in a nationwide push to lower salaries at state-owned finance companies. He frets about layoffs and wonders how he’ll find 600,000 yuan ($84,500) to…
Enjoy exclusive deals! Join ourTravel News & Deals WeChat Group! 3-Day Anji Mountains Yoga & Mindfulness Retreat Image courtesy of Yoga for Life This is Yoga for Life Shanghai’s eighth time going to Anji Mountains’ Guanyin Tang village for October Holiday Yoga & Mindfulness Retreat since 2017. Over the past seven years they have brought over…
Chinese authorities prepared for heavy rain on Sunday as a strong typhoon approached the country’s heavily populated eastern seaboard. China prepares for heavy rain as typhoon nears Shanghai Typhoon Bebinca was expected to make landfall along a swath of coastline including the megacity of Shanghai sometime between Sunday night and Monday morning, according to Beijing’s…