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Local authorities will be allowed to turn unsold homes from developers into affordable housing
China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures by Beijing aimed at propping up the country’s faltering property market.
The People’s Bank of China said it would scrap the minimum rate of interest and reduce down-payment ratios to 15% for first-time buyers and 25% for second homes. It will also to support local state-owned companies to buy homes at reasonable prices, it said in a series of statements on Friday.

From kimchi-specific refrigerators to rooms dedicated to elders, Asian American dwellings embody a complex set of expectations and sacrifices made to uphold unwritten rules ...

"Asian-Americans are the second biggest ethnic group in Ardsley," said Gina Roh, co-chair of the village's Asian American Pacific Islander Festival.

Chinese President Xi Jinping is greeted by Hungarian Prime Minister Viktor Orbán as he arrives at Liszt Ferenc Budapest airport at Ferihegy, Hungary on May 8, 2024.

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While Putin’s visit to China continues, back in Russia his deputy foreign minister has said Moscow will respond in kind to any ambiguous nuclear behaviour from the West.
According to Ryabkov, the West has adopted a stance of strategic uncertainty and ambiguity towards Russia, trying to make it difficult for Moscow to predict how NATO will react in various situations, including with nuclear weapons.

Targeting posts boasting of personal wealth appears to be part of campaign to ‘purify the internet cultural environment’
Chinese social media companies have launched a new crackdown on user content, targeting posts that show off personal wealth and financial extravagance.
In a statement posted online on Wednesday, Weibo said it had spent this month carrying out special management work on “undesirable value-orientated content”, including content .

The Biden administration is expected to raise tariffs to 100 percent from 25 percent for Chinese electric vehicles ...

Dr. Fang Miao, an author, educator, philanthropist, composer, and spiritual growth mentor, is dedicated to nurturing social practitioners, ...

SK Chairman Chey Tae-won's second daughter, Chey Min-jung, is getting married to a Chinese American in a ceremony in October.

Frankie Gaw is the founder of Little Fat Boy, a food blog that reimagines American childhood recipes with an Asian twist. The recipes, including those of his latest series "Turning American Classics ...

A man who yelled racial slurs and attacked an Asian American in 2021 was released from jail Thursday after spending more than 18 months detained.