Business News
Latest business news and updates
Total: 471
China’s ‘High‑End’ Furniture Star Faces Cash Crunch as Staff Are Forced to Sell Stock to Recover Wages
Meike Home Furnishings, a listed leader in China’s high‑end furniture market (600337.SH), has been accused of withholding months of employee wages and directing staff to sell company products to offset pay arrears. The revelations come as Meike posts continued losses, suspends two Tianjin subsidiaries, and pursues a controversial acquisition of a high‑speed cable maker as part of a strategic pivot into tech.
Musk’s Surprise Davos Appearance and a Winter-Driven Energy Shock Roil Markets
A severe US winter storm has sent natural gas futures sharply higher, complicating an otherwise positive session for US equity futures. Elon Musk’s unexpected Davos appearance adds a volatility vector for technology and AI-focused stocks, while chip supply constraints and corporate moves in semiconductors, crypto custody and fusion power frame a broader market narrative.
China’s January Car Retail Slumps Month-on-Month but EVs Now Nearly Half the Market
January retail sales of China’s narrow passenger-car market are estimated at about 1.8 million units, down 20.4% from December but roughly flat year-on-year. NEVs made up around 800,000 of those sales, reaching a 44.4% retail penetration and underscoring the swift structural shift toward electrified vehicles.
Speculative Frenzy Sends Fenglong Shares to 17-Day 'Limit-Up' Streak as Company Flags Market Risk
Fenglong's stock reached 90.48 yuan on January 22, marking a 17-day streak of daily limit-up moves despite the company denying any planned asset injection or restructuring involving robotics firm Ubtech. The issuer warned the share price had detached from fundamentals and flagged high trading risk, saying it might seek a trading suspension for investigation if abnormal rises continue.
China Small-caps Rally as Commercial Space Stocks Skyrocket, Tech and Pharma Slip
Chinese stocks finished higher with ChiNext leading gains after an afternoon rally driven by a surge in commercial space and hardware-related sectors. The move highlights retail-driven rotation into strategic, capital‑intensive industries while leaving semiconductors and innovative drugs under pressure.
Shunhao-backed Test Satellite 'Chenguang‑1' Completed — Launch Date Still Up in the Air
Shunhao disclosed that its investee’s first experimental satellite, Chenguang‑1, has finished development but remains unlaunched. The company warned that launch timing is uncertain due to weather, rocket readiness, launch‑site management and regulatory and safety reviews.
Elon Musk to Join BlackRock’s Larry Fink at Davos — A High‑Stakes Conversation Between Tech’s Disruptor and Institutional Capital
Elon Musk will appear at the World Economic Forum in Davos on 22 January for a public conversation with BlackRock CEO Larry Fink. The pairing brings together a leading tech entrepreneur and the head of the world’s largest asset manager, offering signals about how innovation, investment and policy might align on AI, electrification and corporate governance.
Pudong on the Cusp of a City-Sized Economy: China’s Emerging Mega-Districts Reshape Urban Hierarchy
Pudong New Area is approaching the RMB 2 trillion mark, making it economically comparable to a top Chinese city and underscoring how sub-city units are increasingly driving China’s urban economy. This concentration of activity in a handful of districts and counties highlights tensions between agglomeration-driven competitiveness and the need for more balanced regional development.
China’s 2025 Incomes: Strong Wage-Led Gains, but Coastal Cities Pull Ahead
China’s National Bureau of Statistics reported that national per-capita disposable income rose to 43,377 yuan in 2025, up 5.0% in real terms, but gains are unevenly distributed. Shanghai and Beijing lead by a wide margin, while selected central and western provinces show catch-up driven by industrialisation and urbanisation.
Moutai Scrambles After Zodiac-Label Typo — A Small Slip, Big Implications for a Sacred Brand
A printing error on Moutai’s 2026 Horse-year packaging turned the character 昴 into 昂, prompting rapid company action to correct supplies and offer exchanges. While the mistake risks minor reputational damage, collectors’ interest in misprints could make the flawed bottles more valuable on the secondary market.
Hainan’s Duty‑Free Boom: Early Gains, New Shoppers and the Test of Durability
Hainan’s full‑island customs regime and a November 2025 duty‑free policy revision have catalysed a surge in sales and reshaped the island’s retail model by turning local residents into repeat duty‑free shoppers. Early figures are robust, but executives and analysts caution that the holiday‑period boost, heavy promotions and enforcement challenges mean the sector must improve assortment, service and inbound tourism to sustain growth.
Three High-Level Moves in One Day Signal Beijing’s Push to Stabilise the Property Market
On January 20 Beijing rolled out three coordinated policy moves — two State Council briefings and a joint ministry notice on urban renewal — that together aim to stabilise China’s property market by boosting demand, expanding fiscal support and mobilising stock land for redevelopment. The measures are targeted rather than market-wide bailouts, and their effectiveness will depend on local implementation and fiscal capacity.