Latest news with #StephenYao
Yahoo
09-05-2025
- Yahoo
Manchester man arrested after pre-dawn gunfire incident
City police arrested a Manchester man early Wednesday after officers heard gunshots and found him allegedly attempting to flee the scene with multiple weapons. Stephen Yao, 35, faces charges of reckless conduct and criminal threatening following the incident in downtown Manchester. About 2:50 a.m. Wednesday morning, a police officer near the intersection of Chestnut and Concord streets reported hearing gunshots, which was confirmed by the department's ShotSpotter detection system. Responding officers observed a man, later identified as Yao, holding a rifle while entering a vehicle. Police said Yao, who also had a pistol holstered on his hip, initially refused officers' commands to exit the vehicle before eventually complying and being taken into custody without incident. Investigators determined Yao had fired multiple shots outside a Pine Street residence, police said. No injuries or property damage were reported. Police did not immediately release information about a possible motive or when Yao would appear in court.
South China Morning Post
02-03-2025
- Business
- South China Morning Post
China's middle-class investors lose appetite for overseas property
Stephen Yao travelled from southern China's Guangdong province to Thailand 32 times in 2017 and 2018 to help middle-class Chinese families invest in condominiums in Bangkok and Pattaya. Advertisement Two years ago he was still shuttling frequently between the two countries, seeking buyers to take over those properties. But his wings have been clipped more recently as the boom in Chinese middle-class investment overseas has faded, with household wealth shrinking amid a sluggish economic recovery and a prolonged domestic real estate slump. 'Most of the property agents have switched to other careers,' Yao said. 'How many middle-class investors are still earning what they were earning back then? They're struggling with unemployment and domestic mortgage payments, while their overseas investments offer no relief.' In the late 2010s, when the economy was growing rapidly, overseas real estate investment by middle-class Chinese surged, with the condominium markets in Thailand, Vietnam, Malaysia and Japan attracting large numbers of Chinese buyers eager to diversify their investments and experience new lifestyles. 02:15 China sees slowest economic growth in over a year with 4.6% GDP in third quarter China sees slowest economic growth in over a year with 4.6% GDP in third quarter Nowadays, Yao said, some of those who were unable to continue paying their mortgages had managed to recover about half their investment through legal channels. Others resorted to domestic consumer and business loans, but those who chose to hold on to their Thai properties were facing 'sunk costs' on assets that were not easy to liquidate.
