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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Elon Musk $258 billion Dogecoin lawsuit expands

Jimmy Khan

Sep 09, 2022 15:17

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Elon Musk is accused of orchestrating a pyramid scheme to promote the cryptocurrency Dogecoin in the $258 billion racketeering complaint, which has grown to include six other defendants as well as his tunnel building company, Boring Co., and seven additional investor plaintiffs.


The price of Dogecoin was purposefully driven up by more than 36,000% over the course of two years, according to an amended complaint that was filed on Tuesday evening in Manhattan federal court by Musk, his electric car company Tesla Inc., his space tourism company SpaceX, Boring, and other parties. Then, the price was allowed to crash.


Despite knowing all along that the currency had no inherent worth and that its value "depended purely on marketing," the defendants "profited tens of billions of dollars" as a result at the cost of other Dogecoin investors, the lawsuit said.


Requests for comment on Wednesday were not immediately answered by Tesla, SpaceX, or Boring. In 2020, Tesla closed its public relations division.

In June, the first lawsuit was submitted

According to the revised lawsuit, shortly after that, the wealthiest man in the world, Elon Musk, tweeted that he would "keep supporting Dogecoin" and claimed in an interview that "those who work near the plant at SpaceX or Tesla" requested him for such support.


The Dogecoin Foundation, which describes itself as a nonprofit organization that oversees and supports Dogecoin, is one of the additional new defendants. It could not be contacted right away for comment.


The anticipated $258 billion in losses is treble the market value fall of Dogecoin from May 2021.

Around that time, Musk dubbed Dogecoin "a scam" while portraying a fake financial expert on an episode of "Saturday Night Live" on NBC.


On Wednesday, Dogecoin was trading at roughly 6 cents, down from about 74 cents in May 2021.

Johnson v. Musk et al., U.S. District Court, Southern District of New York, No. 22-05037, is the matter at hand.