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Rainstorms hit eastern Chinese tourist city

China

China

China

Rainstorms hit eastern Chinese tourist city

2024-06-24 18:52 Last Updated At:19:27

Heavy downpours have pelted large swathes of eastern Chinese tourist city of Huangshan, leaving scenic attractions closed, villagers stranded, and vegetables damaged.

Affected by the recent rainfall, a total of 45 national top-level tourist attractions in Huangshan have been temporarily shut. Mount Huangshan, a UNESCO World Natural Heritage site renowned for its magnificent natural beauty, has been partially closed since June 20, with the reopening date pending on weather condition.

On Monday, the southern part of Huangshan experienced heavy to torrential rain, with the amount of precipitation at three hydrological stations exceeding 100 mm, and the maximum reaching 111.7 mm in Donglinxi Town, Xiuning County.

As of 9 a.m. on Monday, over 470,000 people were affected in 105 towns and townships across seven counties and districts including Shexian County, Huangshan District, and Xiuning County, and more than 60,000 people had been urgently relocated and resettled. Crops were damaged and some houses collapsed.

On Sunday, Changluo Village in Huangshan District's Tanjiaqiao Town was flooded following heavy rainfall, stranding many villagers.

At about 13:00 o'clock firefighters entered the flooded village with inflatable boats and rescued trapped villagers, including many seniors.

Rainstorms hit eastern Chinese tourist city

Rainstorms hit eastern Chinese tourist city

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Japanese seek diversified investment options as yen devalues

2024-07-14 12:04 Last Updated At:12:37

The Japanese people are eyeing diversified investment options at a three-day wealth management exhibition which started on Friday in Tokyo, as the depreciation of their fiat currency yen goes on.

Since July, the retail price of gold in Japan has repeatedly hit new highs, and the price per gram rose to 13,612 yen (about 86 U.S. dollars) on Thursday.

As inflation continues in Japan, precious metals are increasingly popular as a way to beat it.

In addition to paper gold, rare precious metal coins have gradually become one of the new financial investment favorites in Japan in recent years.

"The gold content of coins determines their value as precious metals. But as collectibles, their price on the auction market will go up," said Mitsuru Hayama, an exhibitor.

In addition to traditional financial products which include real estate, there is a trend of diversification at this exhibition.

For example, for investment products such as agricultural blueberry gardens and mushroom farms, investors can choose to make investment only, or they can participate in specific business operations.

Investable wines and whiskies are also a big draw at the expo. Among them, wine investment has an online trading model, where investors can view the latest prices of wines on their mobile phones in real time and conduct transactions .

"You buy it when it's cheap and drink it whenever you want. This is the prime pleasure of investing in the wine. Even if you don't drink it yourself, you'll be happy if its price rallies," said Eiji Odawara, an exhibitor.

According to the latest data released by the Bank of Japan in June, as of the end of March this year, the scale of Japanese household financial assets inched up 7.1 percent compared with the same period last year, reaching 2,199 trillion yen (about 13.9 trillion U.S. dollars), hitting record highs for five consecutive quarters.

Among them, cash and deposits accounted for 50.9 percent, much higher than other advanced economies such as the United States and some European countries.

Japanese seek diversified investment options as yen devalues

Japanese seek diversified investment options as yen devalues

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