we'll look into what this means for the world's second largest economy. hello and welcome to asia business report. i'm mariko oi. we begin with threads, because meta's latest social media app has managed to hit 100—million sign—ups within five days since it was launched. celebrities, politicians and journalists have joined mark zuckerberg's new app which is now the fastest growing online platform to hit the milestone. threads aims to rival twitter which had about 240 million daily active users injuly last year. that was before it was taken over by billionaire elon musk. michelle fleury has more. the platform launched by instagram owner meta has

beaten a record set by open air chat app, signing up more than 100 million users in under five days. now, it was just last wednesday that threads went live on apple and android app stores in 100 countries. meta boss mark zuckerberg said he couldn't believe the milestone had been reached so fast, but it feels like lots of people are already on it. well, that's partly because it's connected to instagram. meta, remember isn't creating an app from scratch. it's benefiting from its two billion instagram followers, and that's giving it a massive shot in the arm. analysts are calling this the first serious threat to the elon musk owned twitter. according to similarweb, twitter�*s web traffic was down 11% from the year prior. that's in the days immediately after threads launch. it's worth remembering threads is not the first attempt to challenge the micro—blogging app, but others such as mastodon, blue sky and truth social, well, they all remain still pretty small right now. as history shows, though,

creating a social media platform, well, it's hard, but when it works, it really works. the reverse, however, is also true. and when communities leave a social media platform, they can do so pretty quickly. remember myspace? anyone? michelle fleury there. chinese officials are closely watching the performance of the renminbi, it has fallen by almost 5% against the us against the us dollar this year making it one of the worst—performing currencies in the region. something to note — china does not have a floating exchange rate — determined by market forces. instead, it pegs the yuan to the us dollar. if you look at this chart, it shows how much yuan you can get for one us dollar in the last six months. the people's bank of china — the central bank there — sets the midpoint fixing for the currency. the yuan can trade within the 2% range. recently, that midpoint has been fixed higher to tackle the slide of the currency. earlier i spoke to galvin chia

of natwest markets who told us what's behind this. two big forces are going on one domestic and one external, the domestic and one external, the domestic one is the interest rate differences. you get a lot more on your currency and your deposits if you convert to a foreign currency and put it elsewhere rather than china. that is preventing lots of companies that lets it have receivables, income, inforeign country currency receivables, income, in foreign country currency for converting a currency wassup and pushing it outside. the other component is outside the market, where i mentioned this is your interest rate differences, the outlook on goat not as hot as it was, expectations of where the economy is going is subdued, so it's not convincing for financial institutions and investors to put their money in the first or in this case is

clear they would rather stash it elsewhere like the us dollar. ~ . , dollar. we have been getting weak economic _ dollar. we have been getting weak economic data - dollar. we have been getting weak economic data from - dollar. we have been getting i weak economic data from china and yesterday inflation dates almost showing that the economy could be in a deflationary state following a crisis state, does this weakness in the second or actually show a young long—term issue in the chinese economy? long-term issue in the chinese economy?— economy? it's a compact issue and i think— economy? it's a compact issue and i think in _ economy? it's a compact issue and i think in the _ economy? it's a compact issue | and i think in the medium-term and i think in the medium—term the un is independent of the economic growth because china has a growth target this year of about 5% which is an enviable north country growth number relative to countries across the world. i think it has a good chance of hitting that number. there are lots of expectations that have been set earlier this year, if you recall the reopening rush, moving away from colby zero, expectations are high, and over that asked months they have

been disappointed. in the financial markets to talk about the scale of disappointments, things been changed and expectations being read tweets, and things right now are not lending such a great sheen on the economy, moderates and the positivity we had from the beginning of the year, so part of the expectations among and reevaluation of the growth pathway, that's putting additional pressure on the first it long—term is a different set of factors things like productivity and long—term growth definitely composition for another time. galvin chia speaking to _ for another time. galvin chia speaking to me _ for another time. galvin chia speaking to me earlier. - elsewhere in china, the national weather agency has warned that the country is warming up faster than the global average. in its latest report on climate change — over 3,000 extreme heat events were recorded last year, and that's the highest number in around 60 years. and this year — the capital beijing is currently

experiencing a severe heat wave and northern china has been particularly affected. the need to keep cool has been driving up demand for electricity, and stretching the limits of power grids across the country. ilaria mazzocco is an expert on the china's climate and energypolicy. .. she told us chinese officials are taking the challenges serious. i are taking the challenges serious. ~ . are taking the challenges serious. ~' ., , , serious. i think china is very aware of _ serious. i think china is very aware of the _ serious. i think china is very aware of the threat, - serious. i think china is very aware of the threat, they i serious. i think china is very | aware of the threat, they are vulnerable to climate change, from extreme temperatures to droughts to rising sea levels, these affect china and are serious challenges to the economy. the government has taken several measures, i think the real question is whether or not they are taking enough measures and whether they are taking them quickly enough. this should be a bit more concern given china is the biggest emitter of gases look liberty. biggest emitter of gases look

libe . , ., liberty. there were several others power _ liberty. there were several others power shortage - liberty. there were several- others power shortage incidents in china last year, could these extremes we have an impact on the power system once again question mark that is possible. i think the chinese government has taken several measures to try and prevent this because over the last three years, just last year actually, several of the shortages in the summer and winter, an idea and results of natural and institutional factors. the government has taken several measures including, most notably at the moment, orders to keep running power plants and the expansion of permits for new coal power plants, which in sherry should meet demand or a surge but we would have to see how that plays out once the summer continues. .

to india, where the diabetic population has crossed a 100 million and gone up by over 40% injust the last four years, according to a recent study. the disease is now also spreading to small towns & villages — a trend that has grave health & economic consequences. 0ur india business correspondent nikhil inamdar sent this report. one out of every ten of these people are diabetic, and many more are on the cusp of it rapidly. ragini gupta's poorly controlled diabetes led to complications and eventually a foot amputation. she's now part of a grim statistic. every year, around 100,000 indians lose a foot from amputation. i had never imagined i'd lose my foot. what can one do? i have to live like this now. 0nce considered a rich man's disease, diabetes is now spreading to india's vast rural hinterland as consumption of processed foods goes up and lifestyles become more sedentary.

many of us dietary components which could be too high priced. and what we need to do is to make the healthier option, the easier option, by making it much more affordable. this diabetes awareness camp by a start up called b2 in a small village in central india, is using fun and games to educate people about the disease. awareness of diabetes and access to specialist doctors is a critical gap in remote parts of this country. so you can get your sugar levels tested in a matter of a few seconds with this device. and what's a staggering statistic from the scan is that more than 50% of the people who just randomly walked in here actually had sugar levels that were higher than normal diabetes. affordable care will be key to limiting the spread of the disease, says the founder. every expense around diabetes that you look at is actually

out of pocket, right? so whether its expense on medicine's, expense on going and seeing a doctor, you know, getting your diagnostics done, if you're able to make this whole value proposition a lot more affordable. you see a sudden steep rise in the level of adherence and compliance. but this is a disease that carries with it a big economic cost, say experts, to reduce productivity and higher health care spending, a major burden for a low income country like india. nikhil inamdar, bbc news gwalior. and that's it for this edition of asia business report. thanks for watching. bbc news bringing you different stories from across the uk. jamie reeve is showing me a video that no parent should ever have to film.

it's of his eight month old daughter, on an emergency medical flight from spain where the family had been on holiday back to birmingham, where doctors then diagnosed with a rare form of leukemia. since lastjuly, it's been hell. i don't think there's been a week that's passed where we haven't been in hospital. i think it's been the most we've done is about three or four days. she's had two stem cell transplants, the most recent one in april. neither has worked. her medical team says they're not prepared to do a third transplant. in all honesty, i thought last week when we weren't seeing any of her counts come up, i was getting really worried and. i started to think in my mind, maybe that could be it. her family has been told their best option might be to pay for a highly specialized treatment called car t cell therapy in america, as it's not currently available on the nhs. but the treatment�*s expensive and the family's now on a mission to raise £1 million. the clock is ticking. time is not on our side, so the sooner we can get over there, the better.

for more stories from across the uk, head to the bbc news website. hi. i'm levi with the catchup. tonight, a warning about prime, weight loss jabs, and pampering homeless dogs. but first, a lawyer representing the young person who's at the centre of allegations about a bbc presenter has said the claims made by them of are rubbish and there are no truth to it. so how did we get here? on friday, the sun reported claims that a presenter paid a teenager for sexually explicit photos starting when they were 17. then on sunday, the mother of the young person said her child used to present his money to fund a crack cocaine habit. now today, a letter to the bbc from a lawyer says that the young person denied their mother's claims to the sun, but they still went on to publish the article. the sun says it has seen evidence of the concerns and it claims that the bbc failed

to act upon a complaint about the presenter�*s behaviour, and that they should now properly investigate. some other stories now. a top us senator has called on regulators to investigate an energy drink promoted by youtubers ksi and logan paul. the prime energy drink is being targeted at children despite containing around twice the amount of caffeine as a red bull. next, all police forces in england and wales will use a new approach to rape and sexual assault investigations. the change will focus on increasing the low rate of prosecutions. and europe's drugs regulator says it's starting a review into some weight loss jabs after reports of a possible link to suicidal thoughts and self—harm. and time now to leave you with ten seconds of dog care. students at the university students at the university of nottingham have set up a vet that provides free treatment of nottingham have set up a vet for homeless people's pets. the team say that they've seen the team say that they've seen an increase in the number of people visiting because of an increase in the number

the cost of living crisis. that's all for today. that's all for today. have a good night. have a good night. hello and welcome to sportsday — i'm 0lly foster, coming up on the programme... up on the programme... carlos shows his class: the world number 0ne comes from a set down to reach his first

wimbledon quarter— final.