Beijing, May 9 (IANS) North China is expected to experience its first widespread heat wave of the year over the next few days, with temperatures in some areas forecast to reach as high as 37 degrees Celsius, according to China’s meteorological authorities. The China Meteorological Administration said on Friday that most parts of north China will see below-average rainfall over the next 10 days. Temperatures will be 1 to 3 degrees Celsius above the seasonal average, and some local areas will see …
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New Delhi, Jan 23 (IANS) China’s rural banks are stuck with hundreds of foreclosed homes that couldn’t get auctioned even at steep discounts, signalling deep stress in the property sector and financial system, a report has said.The report in Modern Diplomacy said that the stress in the property sector spilled into local bank balance sheets and could widen into a major non‑performing‑asset disposal cycle.It cited UBS estimates, which showed “the volume of foreclosed properties nationwide co…