Business News
Latest business news and updates
Total: 2025
Legacy Sins and Blockbuster Wins: Giant Network Rebuked Over Shadow Deal Amid Explosive Growth
Giant Network and its founder Shi Yuzhu have been penalized by Chinese regulators for an undisclosed 2020 related-party transaction. Despite this regulatory setback, the company is reporting record-breaking financial growth in 2026 driven by its hit game 'Supernatural Action Team'.
China’s EV Shakeout: Restructuring Woes and the Huawei Ecosystem Realignment
China's automotive sector is undergoing a strategic consolidation marked by the restructuring of Baidu-backed Jidu Auto and a shift toward the Huawei-led smart car ecosystem. Despite high growth in intelligent features, rising dealer inventory levels suggest a cooling of demand that is forcing manufacturers to pivot toward infrastructure and tech partnerships.
Apple’s China Rebound Sparks Early Gains in Asia-Pacific Markets
U.S. stock futures and Apple shares rose in early Asia-Pacific trading following a strong earnings report that highlighted surprising resilience in the Chinese market. The data suggests that premium consumer demand in China remains a critical pillar for American big tech, even as commodities like gold and oil see significant price spikes.
A Million Hours in the Sky: China’s C909 Regional Jet Reaches Operational Maturity
The COMAC C909, formerly known as the ARJ21, has surpassed one million flight hours, marking a major milestone for China's domestic aviation industry. The achievement validates the aircraft's reliability as Beijing seeks to position its unified 'C-series' fleet as a global alternative to Western manufacturers.
The $300 Billion Milestone: Google Founders Hit Record Wealth as Alphabet Stock Peaks
Google co-founders Larry Page and Sergey Brin have reached record personal wealth levels of $304 billion and $280 billion respectively, as Alphabet stock hits all-time highs. This surge places them as the second and third richest individuals globally, highlighting the massive financial returns of the current AI-driven tech rally.
Stability in the Duopoly: China’s Central Bank Renews Payment Licenses for Alipay and Tenpay
The People's Bank of China has renewed the payment licenses for 17 major institutions, including Alipay and Tenpay, ensuring the operational continuity of the country's massive digital payment infrastructure. The central bank also suspended three smaller firms, signaling a continued effort to consolidate and strictly regulate the fintech sector.
Chipmaking Resilience: SMIC Surges as Hong Kong’s Tech Rally Faces Reality Check
Hong Kong's Hang Seng Index fell on the final day of April despite a strong monthly performance, driven by a sharp divergence between surging semiconductor stocks and flagging platform tech and EV shares. SMIC led the gainers as national self-sufficiency goals continue to reshape investment priorities in the Greater China region.
Homebound Ambitions: China’s Migrant Workers Trade Coastal Factories for Inland Hubs
China's migrant worker population reached 301 million in 2025, but the workforce is increasingly choosing local or provincial employment over coastal megacities. This shift is accompanied by a rapidly aging demographic and rising educational levels, marking a structural change in China's labor market geography.
China’s AI Chip Champion Reclaims the Throne as Tech Index Surges
China's STAR 50 index rose nearly 5% in half-day trading, led by a 17% surge in AI chipmaker Cambricon, which reclaimed its status as a market leader amid massive trading volumes and a focused bet on domestic computing power.
Hainan’s Tropical Ambitions: Betting on Sports and High-Stakes Leisure to Anchor Its Economic Future
Hainan province has unveiled a draft for its 15th Five-Year Plan, prioritizing the development of a 'sports event economy' through international competitions and high-end niche tourism products like aviation and equestrianism. The plan aims to diversify the island's economy and elevate its status as a global consumption center under the Free Trade Port framework.
The Price of Vanity: China Ends Tax Exemptions for the Booming Cosmetic Surgery Industry
Chinese tax authorities have launched a major crackdown on the medical beauty sector, closing a loophole that allowed cosmetic clinics to claim VAT exemptions reserved for essential healthcare. New regulations for 2024 ensure for-profit beauty institutions are fully taxable, reflecting the government's drive to formalize high-profit consumer industries.
China’s Uneven Recovery: Manufacturing Holds the Line as Services Slip into Contraction
China's manufacturing sector stayed in expansionary territory at 50.3% in April, driven by high-tech industries, while the non-manufacturing sector fell into contraction at 49.4%. The data highlights a 'two-speed' economy where industrial output remains robust but domestic consumption and the construction sector continue to struggle.