Business News
Latest business news and updates
Total: 487
Beijing Joins Shanghai in the 5‑Trillion Club as China’s Urban Hierarchy Tightens
Beijing’s 2025 GDP surpassed RMB 5.2 trillion, making it the second Chinese city after Shanghai to cross the RMB 5 trillion mark. The outcome highlights the concentration of economic power in top-tier cities and Beijing’s hybrid model of leading services, deep R&D and a resilient industrial base as the blueprint for future urban competitiveness.
Global Markets Plunge as Greenland Standoff and Japanese Fiscal Shock Trigger Risk Aversion
Global markets sold off after a U.S.–Europe standoff over Greenland and a surprise Japanese fiscal pledge sent investors fleeing risk. U.S. equity futures plunged, precious metals set records, and Japanese long-term yields spiked as bond auctions drew weak demand ahead of a looming election.
Wenzhou Cracks the Trillion-Yuan Mark, Underscoring Rise of Non-Capital Industrial Cities in China
Wenzhou surpassed one trillion yuan in GDP in 2025, becoming the 28th Chinese city and the tenth ordinary prefecture-level city to reach that scale. The milestone underscores the growing economic clout of privately driven, industrial prefecture-level cities even as demographic limits and a shift toward multi-trillion targets complicate the next stage of urban competition.
Gold at $4,700: A Repricing of Risk or a Dangerous Stretch?
Gold’s rally above $4,700 reflects a market re-pricing of institutional credibility and geopolitical risk more than simple inflation hedging. While major wealth managers and ETFs are increasing allocations, analysts warn the rally could reverse if policy independence is restored or tensions subside.
A 120 Billion Yuan Promise That Wasn't: How a Lofty LFP Deal Exposed Corporate and Market Fault Lines
Rongbai Technology’s announcement that it would supply 3.05 million tonnes of LFP cathode material to CATL — purportedly worth over 1200 billion yuan — was built on an internal estimate rather than a binding contract. The Shanghai exchange and CATL questioned the claim, and the CSRC has opened an investigation into potential misleading disclosure, exposing governance weaknesses at Rongbai and broader risks from ambiguous industry framework agreements.
China’s 2026 Fiscal Playbook: Bigger, Better‑Targeted Spending to Shore Up Growth and Jobs
China’s finance ministry has outlined a 2026 fiscal strategy that raises the overall spending envelope while reallocating funds toward consumption, social services and high‑impact projects. The plan marries a larger deficit and bond issuance with zero‑base budgeting, better performance management and reforms to transfer payments and tax preferences to boost domestic demand and sustain growth.
China’s Old-Brand Gold Rewrites Luxury: Craft, Culture and a Post‑Logo Market
Laopu Gold’s 2025 surge shows a structural shift in Chinese luxury from logo‑driven status symbols to culture and craft‑led value. Backed by strong store performance, immersive service and recovery of artisanal techniques, the brand has forced global houses to reconsider how they compete in China’s evolving high‑end market.
Second‑Generation Strain: Red Bean Posts Deeper Losses as China’s Menswear Market Contracts
Red Bean forecasts a second consecutive annual loss for 2025, reflecting a broader decline in demand for traditional menswear in China. Efforts to reposition the brand and convert franchise stores to direct control have so far been overwhelmed by falling sales and squeezed margins, leaving the company at a crossroads between deeper restructuring or strategic partnership.
Global Risk-Off Sends Stocks Tumbling as Nvidia Loses Nearly $200bn; China Readies a Domestic-Demand Push
Global markets turned risk-off on renewed US tariff rhetoric, sending US indices sharply lower and erasing roughly $196 billion from Nvidia’s market value. Beijing signalled a policy pivot toward expanding domestic demand — including a 2026–2030 strategy and extended tax breaks for services — as geopolitical and market volatility complicate external growth prospects.
China’s Housing Minister Pushes Urban Renewal and ‘Good Homes’ to Stabilise Property Market and Lift Living Standards
China’s housing ministry has prioritised urban renewal and the construction of higher‑quality “good homes” for 2026, coupling a social objective of improving living standards with measures intended to stabilise the property market. The package includes retrofit programmes for old neighbourhoods, stricter quality standards for new homes, and institutional reforms to development and financing practices.
China’s Small‑Cap Board Leads a Selective Rally as Gold and Chip Plays Catch Fire
China’s stock market showed a selective mid‑day rally led by small‑cap growth stocks, with precious metals and chip‑supply plays outperforming while consumer and coal sectors lagged. The move was marked by retail‑driven limit‑ups and lower overall turnover, suggesting a concentrated and potentially fragile advance.
China’s Reputation Reset: State Censure of Influencers, New Oriental’s High-Profile Hire, and AI’s Push into Culture and Medicine
China’s state media has publicly criticised influencers for treating large online platforms as private domains, urging greater responsibility after a viral restaurant closure. In parallel, New Oriental hired charity leader Chen Xingjia as a senior adviser with a 1.5 million yuan salary as part of a reputational reset, while Chinese tech firms push AI into museums and drug discovery through high-profile partnerships.