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China regulators ban surgery loans

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Chinese regulators have barred cosmetic surgery loans from structured debt products

It signals a warning shot for the nation’s large plastic surgery industry.

Both the Shanghai and Shenzhen stock exchanges have allegedly banned consumer debt that’s linked to cosmetic procedures.

The rule applies to new issues according to sources at Bloomberg.

It follows China’s booming cosmetic surgery industry under government scrutiny.

The industry has tripled in value in recent years

Many of the clients are younger people who can see what they would look like through smartphone apps.

The government has had the industry in its sights for a while, in particular, the estimated 60,000 clinics and 150,000 doctors who were operating without official licences as of 2017, according to Daxue Consulting. 

Two months ago, the National Health Commission and several other government departments announced plans for a crackdown on illegal cosmetic surgery services in 2021, and the National Internet Finance Association of China issued a notice prohibiting financial institutions from co-operating with illegal cosmetic surgery institutions.

Spokespersons from the Shanghai and Shenzhen stock exchanges didn’t immediately respond to e-mailed requests for comment.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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China seeks to establish itself as EV leads

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China’s dominance in the electric vehicle (EV) market is reshaping the global automotive landscape, as acknowledged by Elon Musk, who views Chinese car companies as Tesla’s most formidable competitors.

 

Beyond being a manufacturing hub, China has excelled in EV development, influencing the industry across resource refining, battery production, software, and manufacturing. Established brands such as Audi, Toyota, and BMW are now collaborating with Chinese partners for EV platforms, batteries, and production. This shift is evident in Australia, where China-made car sales have surged 16-fold in the last five years, and top-selling EVs are predominantly Chinese.

Leading Chinese brands like BYD, SAIC Motor’s MG, and Chery are making significant strides in Australia, with ambitious plans and models that outperform established competitors. China’s impact extends beyond its borders, making it a driving force in the global EV market, shaping growth, innovation, and competition in sustainable mobility.

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Is remote learning here to stay?

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The Great Transformation – how will we learn in the futre?

 
The rise of the digital age has transformed news, media and entertainment and there are signs that it may affect education as well.

Host of The Great Transformation Professor Tim Harcourt from the University of Technology Sydney, gives his predictions about how we will learn in the future.

#featured #the great transformation #tgt

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Can this climate group agree on anything?

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The global climate summit has hit a roadblock as delegates clash over the contentious issue of a fossil fuel phase-out.

 
Tensions reached a fever pitch after OPEC nations vehemently pushed back against the proposed measures, leading to an impasse that threatens progress on tackling climate change.

As world leaders gathered in an effort to accelerate the transition away from fossil fuels and limit global warming, the negotiations took an unexpected turn.

The deadlock has left environmental activists around the world frustrated, as hopes were high for a breakthrough agreement. #featured #climate #cop28

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