Business News
Latest business news and updates
Total: 2072
Star Manager to Reputation Risk: How Wan Jianjun’s Rapid Rise at HuaAn Turned into a Trust Crisis
Wan Jianjun, once a top-performing fund manager at HuaAn, has seen five of seven funds he runs fall into loss and his assets under management shrink by about 60% amid large drawdowns and investor redemptions. The decline stems from high‑density fund launches at market peaks, forced takeovers of troubled mandates, and repeated, mistimed sector rotations that turned a once-coherent investment process into reactive hot‑money chasing. The episode highlights governance risks in China’s retail-driven fund industry and could prompt tighter scrutiny of product marketing and manager role expansion.
Broad A‑share Advance Led by ChiNext as Solar and AI Stocks Surge Amid Heavy Turnover
China’s A‑share market registered a strong mid‑day advance on February 9, led by a 3% jump in the ChiNext growth board and exceptionally broad participation with over 4,400 stocks rising. Solar, compute hardware and AI application sectors drove the gains amid elevated turnover of RMB 1.49 trillion, while oil and gas names lagged.
One Nomination, Many Aftershocks: How a Fed Pick and AI Fears Unleashed a Market Reset
Kevin Warsh’s nomination as Fed chair shocked markets by shifting expectations on monetary policy, triggering a dollar rally and deep declines in gold, silver and bitcoin. But the sell-off also reflected a broader reassessment of tech valuations as agentic AI threatens traditional SaaS economics and forces enormous corporate AI capital spending.
Priced to Prey: How Staged 'Auctions' Are Extracting Millions from China's Small-Time Collectors
Scammers posing as auction houses and foreign buyers are targeting ordinary Chinese collectors with high-pressure valuations and demands for seller-side guarantee deposits. They stage “private” or overseas sales, employ fake bidders, then declare lots unsold and withhold deposits under contractual pretexts. The fraud exploits information asymmetries in the antiques market, weak cross-border enforcement and social stigma that keeps victims silent.
Bithumb’s $44bn ‘Fat‑Finger’ Mistake Sends Crypto Markets Reeling
Bithumb accidentally credited users with 620,000 BTC (about $44bn) during a promotional payout after entering the wrong unit; the exchange recovered 99.7% of the coins and pledged to compensate affected customers. The error briefly distorted prices on the platform, prompted a regulatory on‑site inspection and highlighted persistent operational and regulatory risks in the cryptocurrency industry.
Ren Zeping Says China’s 2024 Rally Is a Once-in-a-Decade ‘Confidence Bull’ — But Its Fate Hinges on Policy and Reform
Economist Ren Zeping describes the post‑September 2024 upswing in Chinese equities as a once‑in‑a‑decade “confidence bull,” powered by policy easing, a tech revolution and abundant liquidity. He argues the rally can finance strategic industries and help repair household balance sheets, but warns its longevity depends on sustained policy support and deeper capital‑market reforms.
China Tightens the Noose on Crypto: RMB‑Pegged Stablecoins Banned Abroad and RWA Tokenization Curtailed
China has issued stringent new rules that ban the overseas issuance of renminbi‑pegged stablecoins without approval and place heavy restrictions on tokenizing domestic assets for issuance abroad. The policy bundle, coordinated by the central bank and eight departments and accompanied by CSRC guidance on RWA tokenization, closes perceived regulatory gaps while creating a filing pathway for compliant projects.
Takaichi’s Electoral Mandate Fuels Fiscal Boldness — and Fresh Downward Pressure on the Yen
Prime Minister Sanae Takaichi’s governing coalition won a decisive lower-house majority, clearing the path for expansionary fiscal measures such as cuts to the food consumption tax and a new sovereign wealth fund. Markets have swiftly priced in a higher probability of yen weakness and a Japanese equity rally, while analysts warn that persistent fiscal loosening could exacerbate sovereign-financing pressures and elevate the risk of market intervention if the currency weakens beyond key thresholds.
Konka's Fall: China’s Once-Dominant TV Maker Posts Billions in Losses and Faces Delisting Risk
Konka, once a leader in China’s television market, warned of a RMB 12.58–15.57 billion net loss for 2025 and faces a likely negative net-asset position and possible delisting. Years of shrinking TV sales, sprawling diversification, mounting impairments and governance lapses have culminated in a balance-sheet crisis that China Resources has begun to address but cannot resolve alone.
Maotai Soars as Mid‑Tier Liquor Plummets: How China’s New‑Year Spirits Trade Is Splitting Along Channel Lines
As Lunar New Year approaches, premium Feitian Maotai has seen a sharp price rise and rapid sell‑outs, while some regional and mid‑range baijiu brands crashed after sudden factory releases. Instant‑retail platforms such as Meituan are undercutting traditional alcohol shops, pushing merchants to prioritize cash preservation and minimal stocking over speculative inventory plays.
Queues at the Gold Counter: Beijing’s Elders ‘Buy the Dip’ as Gold and Silver Suffer Historic Plunge
A historic intraday crash on 30 January 2026 sent gold down as much as 16% and silver near 36%, triggering panic among leveraged and late-entry investors. In Beijing, elderly retail buyers queued at Caibai stores to purchase physical gold, while institutions and exchanges tightened margins and market participants debated whether the rally can resume or a deeper correction is underway.
A Philanthropic Boost and a Market Whirlwind: Li Yapeng’s Charity Revival, Dong Yuhui’s Quiet Donation, and a Linked Stock Rally
Li Yapeng’s vocal defence of a benefactor who helped Yānrán Angel Children’s Hospital has turbocharged his livestreaming comeback, drawing millions of followers and hundreds of millions of RMB in sales. The publicity also lifted Tiandi Online—an investor in Li’s cultural company—into a sharp stock rally, despite the firm warning of substantial 2025 losses. The episode underscores how Chinese celebrity philanthropy can rapidly translate into consumer and market effects, exposing companies and donors to reputational and regulatory risks.