News

Dramatic footage has been posted on X, capturing the moment a powerful blast rocked a luxury residential tower in the southern Chinese city of Shenzhen.

Number 1 trend on Weibo now: the terrible explosion that occurred in a residential building in Shenzhen’s Nanshan District today just after 14.30 after which 16 fire trucks and 80 fire rescue workers rushed to the scene. pic.twitter.com/6l3RJlFeN3

— Manya Koetse (@manyapan) December 11, 2024

Reuters reported:

The Shenzhen fire brigade said it had dispatched 16 fire trucks and 80 rescue personnel after receiving a report of the emergency at the compound.

…

According to state media The Beijing News, a preliminary investigation showed that a gas explosion on the 28th floor of the building caused the fire, while the exact cause of the explosion was still being investigated.

According to the Shanghai Morning Post, local officials have not confirmed casualty numbers, which remain unknown. At least one resident of the high-end condo building had fallen off after losing consciousness.

Footage of the aftermath was posted on X, including a shocking image of a person at the edge of their floor, attempting to escape the flames…

😞😞😞 pic.twitter.com/qLyM9eDVQd

— Deepman (@Deepman1024) December 11, 2024

Tragic high-rise explosion this afternoon in Shenzhen in a residential building (China).

At least one person died – a woman who fell down.

At least 4 floors were impacted. This happened in the Nanshan district. I can clearly see that building from my place.

My video in 🧵… pic.twitter.com/51S4EM8FY4

— Daniel Camilo (@DanielOlimac) December 11, 2024

An explosion occurred in an apartment at Phase II of Shenzhen Bay Yuefu in Nanshan District earlier this afternoon, Shenzhen Media Group reported.

The cause of the explosion and any potential injuries remain unclear. Authorities are conducting an emergency investigation into… pic.twitter.com/22FORvcJZG

— Shenzhen Daily (@szdaily1) December 11, 2024

SCMP noted that rescue teams have been evacuating residents throughout the building. 

Website Finder.com cited data from the National Christmas Tree Association showing that 43% of American households are expected to purchase a real tree this holiday season, with the average tree costing around $79.31—around $4 more than in 2023.

2020 marked a critical point in which artificial tree sales surpassed real tree sales for the first time. 

Separately, data from point-of-sale company Square shows that Christmas tree prices typically peak and are most expensive immediately after Black Friday and during the first half of December. Square noted that 50% deals occur in the days leading up to Christmas. 

Square Research Lead Ara Kharazian wrote in a note: “The cheapest time to buy a Christmas tree is right before Christmas. The best time is whichever day maximizes joy in your household.”

Over the past decade, Christmas tree supplies have been squeezed by a supplier bust originating back to the Global Financial Crisis, compounded by continued adverse weather conditions in the country’s top tree-growing regions.

“The root of the tight supply issue goes back to 2008 when an oversupply led growers to scale back planting,” Jill Sidebottom, a National Christmas Tree Association spokesperson, told CBS MoneyWatch.

Sidebottom added that adverse weather conditions, including the 2021 heat dome that destroyed trees across the Pacific Northwest, have exacerbated supply constraints in recent years.

Meanwhile, PNC Bank’s annual Christmas Price Index, which calculates the cost of “True Love’s” gifts from the classic holiday carol The Twelve Days of Christmas, rose by 5.4% compared to last year.

Data from Bankrate shows persistent inflation and high interest rates are expected to weigh on low/mid-tier consumers this holiday season. According to the financial services company, about one-third of holiday shoppers plan to spend less this year than last year.