Business News
Latest business news and updates
Total: 3034
Layoffs, Pay Cuts and a Vanishing CEO: Xibei’s Collapse as a Cautionary Tale for China’s Restaurant Sector
Xibei, a major Chinese restaurant chain, has come under fire after management rescinded earlier promises to protect employee pay, pushed staff toward voluntary resignations with a strict deadline, imposed standby wages at local minima, and offered severance in delayed instalments. The CEO, Jia Guolong, has stepped down amid a widening trust and reputational crisis that highlights wider risks for China’s restaurant sector.
JD’s Growth Windfall, Profit Hangover: How an Aggressive Push into Food Delivery Blew a Hole in 2025 Results
JD.com grew revenue to RMB1.3 trillion in 2025 but saw operating profit collapse as it spent heavily to build a food‑delivery and local‑services business. The new businesses posted RMB46.6 billion in losses for the year, driven by steep increases in marketing and fulfilment costs, even as core retail and JD Health showed pockets of resilience. Management says spending will ease if competition stabilises, but the company must prove it can convert strategic subsidiaries into independent, high‑quality profits to win back investor confidence.
China’s Central Bank Keeps Buying Gold as Reserves Top $3.4 trillion — A Bid to Hedge the Dollar
China’s foreign‑exchange reserves rose to $3.4278 trillion at the end of February 2026 while the People’s Bank of China extended a 16‑month streak of gold purchases, bringing its holding to 74.22 million ounces. Beijing’s strategy reflects reserve diversification amid de‑dollarisation pressures, geopolitical uncertainty and a desire to shore up long‑term external stability.
PBOC Moves to Rein In Firms’ Accounts‑Receivable Practices to Protect SMEs and Financial Stability
The People’s Bank of China has begun tightening rules on how large firms manage electronic accounts‑receivable vouchers, aiming to curb opaque supply‑chain finance practices that can mask leverage and hurt SMEs. The move follows prior engagements with automakers and builds on 2025 guidance limiting the term of electronic receivables, signalling Beijing’s effort to prioritise financial stability while protecting small suppliers’ access to credit.
PBoC Signals Continued Credit Ease to Back Growth as Zhejiang Tech Boom Boosts Markets
PBoC Governor Pan Gongsheng said the central bank will keep monetary policy appropriately loose and maintain relatively easy social financing to support growth, while cracking down on irregularities in accounts‑receivable financing and coordinating more closely with fiscal authorities. The stance aims to sustain credit access for firms — especially a booming tech sector in Zhejiang — while addressing risks from opaque financing channels.
Middle East Conflict Forces Dubai Dealers into a $30/oz Gold Fire Sale
Flight suspensions and airspace closures tied to the Middle East conflict have stranded large amounts of gold in Dubai, driving traders to sell at discounts of up to $30 per ounce to avoid mounting storage and financing costs. The disruption has created short-term tightness for Asian refiners and increased logistics costs, highlighting vulnerabilities in the physical bullion supply chain.
Beefed-Up Fiscal Push and Industrial Targets: China Signals a Big Economic Reset at NPC Press Conference
At the NPC economic press conference, Beijing announced record fiscal spending, a large new government bond issuance and coordinated monetary easing while unveiling social, industrial and infrastructure targets for the coming Five-Year Plan. The package pairs near-term demand support with long-term state-led investment in six emerging sectors and major energy and transport projects, alongside capital-market reforms and stronger investor protections.
China Set to See Biggest Fuel Price Jump This Year as Global Oil Rally Pushes Retail Pump Prices Higher
A sharp global oil rally has pushed international benchmarks to multi‑month highs, triggering China’s scheduled fuel‑price review on March 9. Regulators are expected to raise retail caps by about 500 yuan per tonne, the largest increase this year, raising pump prices and transport costs for consumers and businesses.
Gold Isn’t Always a Safe Haven: US–Iran Escalation Triggers Wild Swings and Tests the Bull Case
Gold posted wild intra‑week swings after a US–Iran escalation in late February and early March, briefly spiking above $5,400/oz before plunging below $5,000/oz. Short‑term reversals were driven by a stronger dollar, rising US yields and deleveraging in paper markets, even as long‑term drivers such as central‑bank buying and de‑dollarisation remain intact.
JD’s Big Bet on Food Delivery: Revenue Gains, Profit Pain and a High‑stakes Gamble for Market Share
JD.com grew revenue to ¥1.3 trillion in 2025 but saw operating profit collapse and free cash flow shrink sharply as losses from new businesses, especially food delivery, ballooned. Management says investment intensity could ease in 2026 if competition stabilises, but the company must show that its retail margins and newly listed subsidiaries can deliver independent, durable profits.
Why China’s Laopu Gold Just Hiked Prices by 20–30% — and Customers Keep Buying
Laopu Gold’s 20–30% price rise at the start of 2026 produced a buying frenzy rather than deterring customers, underscoring the brand’s transition from jeweller to luxury-asset maker. Strong resale demand and elevated gold prices have reinforced the perception of jewellery as an investable, appreciating good, but rising raw-material costs and intensifying competition threaten margins and the sustainability of the model.
Beijing’s 2026 Push to Raise Incomes: A Broad Plan to Turn Paychecks Into Consumption
Beijing has enshrined a new urban and rural residents’ income plan in the 2026 government work report, combining wage, social‑security and wealth‑income measures to lift household incomes and stimulate consumption. The move responds to weak external demand and aims to rebalance growth toward domestic consumption, but success depends on sustained, coordinated implementation and financial safeguards.