Latest news with #Henan
South China Morning Post
3 days ago
- South China Morning Post
China dad berated for locking naked son in iron cage, claims pen used to prevent wandering
A father in China who has been criticised for locking his naked toddler son in an iron cage claims the pen was purely used to prevent the boy from wandering. On June 16, several naked toddlers were spotted on a red tricycle parked by the roadside in Hainan province, southern China, and one of them was inside an iron cage. The person recording the video said: 'This poor kid. How could the parents be so cruel? The sun is so strong, he could get sunburned.' Worried about possible abuse or child trafficking, passers-by alerted the police. Diao told the police his caged toddler son was naked so that he would not suffer from the heat. Photo: Douyin On June 18, the police confirmed that the tricycle belonged to a man surnamed Diao from Henan province in central China, who is the father of the children.
The Standard
5 days ago
- Business
- The Standard
China's Hellobike sets up new robotaxi firm with Ant Group, CATL
Bicycles of bike-sharing firm Hellobike are seen outside a subway station in Zhengzhou, Henan province, China March 13, 2018. Picture taken March 13, 2018. REUTERS
South China Morning Post
18-06-2025
- General
- South China Morning Post
China soldier saves 5 people from drowning, even when exhausted, defies mother's plea to stop
A Good Samaritan in China who defied his worried mother's pleas for him to stop saving people who were drowning in a lake has won online admiration for his heroism. Serving People's Liberation Army soldier Zhang Wei was holidaying with his mother beside a lake in Shangqiu, central Henan province, on June 6, when he heard several people struggling in the water and yelling for help, according to the state broadcaster CCTV. They included a quarrelling couple who had jumped into the water and three men who were trying to help them. Without hesitation, Zhang dived into the water to save them. Hero Zhang Wei leaves the hospital after being treated for exhaustion. Photo: The Paper After getting the fourth person to the bank of the lake, he was exhausted and his mother was so worried about his health that she began crying.
Reuters
18-06-2025
- Automotive
- Reuters
Some Chinese banks vow to rein in commissions given to car dealers for auto loans
BEIJING, June 18 (Reuters) - Banks in China's Henan province said on Tuesday they will stop giving car dealers high commissions for auto loans taken out by buyers - a move that comes amid increased regulatory scrutiny of the sector. Chinese authorities have been keen to curb a deepening price war in the car industry and what they see as excessive competition among automakers. According to industry sources, some Chinese banks offer car dealers high commissions to lure borrowers and the dealers then use that money to provide discounts to car buyers, stimulating sales. The sources were not authorised to speak to media and declined to be identified. China Everbright Bank's ( opens new tab Zhengzhou branch, Henan Rural Commercial Bank and Bank of Communications' ( opens new tab Henan branch also said in statements that they will prevent car dealers from making it compulsory for customers to take out a car loan. The practice increases borrowing costs for consumers and ultimately harms the interests of both consumers and financial institutions, the lenders said. The banks added that interest rates on car loans should be no more than 6%. Until recently, the price war that began in early 2023 had shown little sign of abating, and tensions have been running high with some auto executives questioning the health of the sector. China's industry ministry summoned automakers to a meeting this month where they were told rein in the price war and excessive practices that have hurt the industry's supply chain. Since then, automakers have pledged to make payments to suppliers in 60 days, responding to an outcry from steelmakers over long payment times. Chinese auto dealers have also complained, calling on automakers to stop offloading too many cars on dealerships, saying the intense price war was damaging their cash flow, driving down their profitability and forcing some to shut.
Yahoo
18-06-2025
- Business
- Yahoo
China's $41.8B Consumer Stimulus Is Running Out--What Happens When the Money Stops?
Retail spending in China just got a shot of adrenaline. Thanks to Beijing's trade-in subsidy program, consumers rushed to replace old electronics and home appliances, driving May's retail sales growth to the highest level in more than a year. Some categories clocked in with over 50% year-over-year growth. The stimulus is being fueled by a 300 billion yuan ($41.8 billion) special sovereign bond packagetwice last year's levelaimed at boosting confidence and countering the drag from U.S. tariffs. But local governments are already feeling the strain. Provinces like Henan and Chongqing have run through their allocated budgets, forcing a pause on new applications. Others, including Jiangsu and Guangdong, are throttling access through daily caps. That's raised concerns not just about execution, but sustainability. Just over half of the funds have been distributed or are being processed, but nearly two months after the second tranche was announced, disbursement delays persist. Beijing's fiscal leeway is shrinking as tax revenues fall and debt service costs rise. This year's budget deficit has been pushed to the highest level in over three decades, while bond issuance is up 80% from 2024. Economists warn that while the current consumption boost looks impressive, it may be hard to repeat unless China addresses deeper issueslike household income stagnation and private sector confidence. Some local retailers have even been flagged for possible price inflation to exploit the subsidy scheme, adding more complexity to an already fragile rollout. Still, Beijing isn't giving up on demand-side tools just yet. Beyond consumer subsidies, officials are turning to business-facing policieslike urging electric vehicle makers such as Tesla (NASDAQ:TSLA) to speed up supplier payments, and clearing overdue bills to private firms. These moves won't generate headlines overnight, but they could lay the groundwork for more stable growth in the medium term. In the meantime, analysts expect additional subsidy funding to be pushed through to avoid a sentiment dip. But the bigger question remains: how long can China keep the consumer engine running without reworking the whole system? This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
