China’s property market, once the powerhouse of the country’s economy, is now facing an unprecedented “avalanche” as millions of properties in Beijing have plummeted to almost nothing. The sight of empty houses in Wuhan is chilling, signaling a collapse in the real estate sector that has not only swallowed the wealth of countless families but also pushed many industry tycoons to the brink. With economists warning that “this is just the beginning,” the domino effect triggered by the property bubble is rapidly impacting every nerve of China’s economy.
Beijing was hit by heavy rain, causing alarming disasters. According to official reports from the Chinese Communist Party, the death toll in Beijing has reached 30 due to the disaster, but the authorities have not disclosed the number of missing persons as usual. Various sources and internet users have suggested that the actual number of casualties may far exceed the official figures, especially in the Miyun district where there are suspicions of elderly residents in a nursing home dying due to floods, without a clear official announcement. Footage shows elderly people trapped in the nursing home, helplessly waving for rescue, evoking heart-wrenching scenes.
In recent years, the Chinese public has been highly attentive to corruption cases in China’s football industry. On July 30, Wang Xiaoping, former director of the Chinese Football Association’s Disciplinary Committee, and Liu Jun, former chairman of the Chinese Super League LLC, were sentenced. As of now, a total of 18 people involved in the series of corruption cases in the football sector that began in November 2022 have been convicted.
To stimulate domestic consumption, the Chinese Communist Party has encouraged banks to introduce high-value consumer loans ranging from millions to 10 million yuan. Experts question the effectiveness of this approach and believe it may bring more risks of non-performing loans to banks.
The major flooding in Beijing at the end of July 2025, mainly caused by the release of water from several reservoirs, resulting in significant loss of life and property, especially the discharge from the Miyun Reservoir, has caused major damage to personnel and property. The areas surrounding the Miyun Reservoir are home to military units defending Beijing, and the losses are expected to be significant.
Amid concerns about a possible military invasion by the Chinese Communist Party, the failure of the recall vote not only affects internal political dynamics in Taiwan but also raises concerns about whether Beijing is using the opportunity to strengthen its infiltration and united front actions against Taiwan.
Recent reports indicate that former employees of Huqiao City Group, a major state-owned enterprise in Shenzhen, have reported to the media that under the company’s enforced “follow-up investment” system, a substantial amount of personal funds are trapped in stalled or difficult-to-sell real estate projects. Even after being laid off, these funds are difficult to recover, sparking widespread concern.
During the North China Plain Economic Work Conference, the State Bureau of Letters and Calls conducted a major review of petitioners, removing thirteen buses of petitioners on Monday night. Meanwhile, Minister of Public Security Wang Xiaohong is holding a meeting in Shanghai, where the situation of petitioners is even more precarious.
As the annual North China Plain Economic Work Conference approaches in late July and early August, rumors suggest that Liu Yuan, a member of the “second generation reds,” has left Beijing to avoid suspicion.
Recent news surrounding Shi Yongxin, the abbot of the Shaolin Temple in China, has attracted considerable attention due to criminal allegations, embezzlement of large sums of money, and scandals. It is hard to imagine controversies emerging from such a pure place of Buddhism as the Shaolin Temple and involving a controversial “red abbot.”
In recent weeks, China’s Jingjinji region has experienced historically extreme heavy rainfall, with Beijing receiving nearly the annual total rainfall in just four days. Widespread flooding has resulted in significant casualties and property damage. Simultaneously, Inner Mongolia, Shanxi, and other regions have also been hit by heavy rains, while Typhoon No. 8, “Zhujiecao,” is approaching the East China coast, expected to bring sustained strong winds and heavy rain, making the national flood control situation exceptionally severe.
In 1966, during the Cultural Revolution in Beijing, flags waved high, slogans resonated loudly, and the storm of the Cultural Revolution swept through China. Former comrades were denounced, families torn apart, loyalty trampled underfoot, turning into ashes. Heroes turned into traitors, honor into humiliation, comrades of yesterday became enemies today.
The long-planned Lower Yarlung Zangbo River hydropower project was recently officially announced to commence. Despite multiple media outlets hyping the project’s electricity generation capacity to be three times that of the Three Gorges Dam, claiming it as the world’s first super project, Chinese state media have remained silent on key technical details.
Following the outbreak of flooding in Beijing, the Chinese Communist Party announced on July 29 that 30 people had died due to the disaster, attributing it to heavy rain and not mentioning multiple reservoirs releasing water. Some locals claim the death toll reported by the authorities is inaccurate, as they have knowledge of four individuals washed away and over three hundred missing in their village.
The Mexican government announced on Tuesday, July 29, that the import tax rate for small packages from countries without a free trade agreement with Mexico, including China, will be raised from 19% to 33.5%. This move primarily impacts renowned Chinese e-commerce platforms like Shein and Temu.