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China
Who is the Chinese billionaire presenting $1,400 in cash to each hometown villager?
Chinese billionaire Richard Liu, founder of e-commerce giant JD.com, has pledged to give US$1,400 in cash to each person over 60 in his hometown village as a thank-you for funds they donated to kickstart his career decades ago.
Thailand faces mass flight cancelations from China following actor Wang Xing's abduction
China bets on $11B consumer trade-in scheme to revive economic growth
Miniso to raise $550M through debt instrument
Chinese lifestyle goods retailer Miniso Group Holding plans to raise US$550 million through a debt instrument to fund its oversea expansion.
January 7, 2025 | 06:55 pm PT
Growing demand for durian ignites culinary boom in China
Durian-themed restaurants, ranging from buffets and hotpots to drinks and desserts, have been mushrooming in Chinese cities as the durian craze extends beyond just fresh fruit.
January 5, 2025 | 07:36 pm PT
Chinese tricksters take cue from Squid Game to prey on the indebted
In China's take on Squid Game, fraudsters are preying on the financially distressed in a slumping economy with promises of prize money, debt restructuring and other schemes that are not always what is promised.
December 25, 2024 | 08:57 pm PT
How Mixue climbed to top of China’s bubble tea market with $1 drinks
Starting as a small shaved ice stall, ice cream and tea chain Mixue has surpassed its rivals in China’s bubble tea market thanks to its affordable products, costing just US$1.
December 19, 2024 | 03:31 pm PT
China top billionaires’ wealth grows for first time in 4 years
China’s 55 richest billionaires saw their collective wealth rise this year for the first time since 2020.
December 17, 2024 | 09:19 pm PT
China's 'erotic clothing' capital braces for Trump and e-commerce crackdown
In an industrial park being built with Chinese state support in the middle of a sprawling farming community, factory boss Lei Congrui straightens a tiny golden bell hanging off a choker on a mannequin wearing white-and-pink lingerie.
December 15, 2024 | 11:45 pm PT
China launches anti-monopoly probe into Nvidia
China said on Monday it has launched an investigation into Nvidia over suspected violations of the country's anti-monopoly law, in a move widely seen as a retaliatory shot against Washington's latest curbs on the Chinese chip sector.
December 9, 2024 | 07:00 pm PT
Urban Revivo steps up global expansion after outgrowing Zara, H&M in China
Chinese fast fashion retailer Urban Revivo is planning to expand and compete in the international market after surpassing global giants Zara and H&M on its home turf.
December 8, 2024 | 03:09 pm PT
Global billionaire wealth surges by $2T, fueled by US gains
The wealth held by the world's billionaires jumped by US$2 trillion, or about 17%, over the past year, according to Swiss bank UBS.
December 5, 2024 | 06:14 pm PT
Property developer Agile’s chairman loses $16M over Hong Kong luxury flat fire sales
Chen Zhuolin, chairman of Chinese property developer Agile Group, has sold nine flats in a luxury project in Hong Kong at 53-63% discounts, incurring losses of HK$123 million (US$15.8 million).
November 26, 2024 | 07:28 pm PT
China finds $83B worth of gold reserves in Hunan
China has found gold reserves worth 600 billion yuan (US$82.9 billion) in central Hunan province, according to state outlet Xinhua news.
November 23, 2024 | 08:19 pm PT
Luckin Coffee: from filing for bankruptcy to outselling Starbucks in China
Luckin Coffee filed for bankruptcy protection in the U.S. in 2021, but it took just a few years to recover and even dethrone Starbucks as China’s leading coffee chain.
November 23, 2024 | 04:43 pm PT
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