Business News
Latest business news and updates
Total: 2979
China’s Credit Card Purge: Why 100 Million Cards Have Vanished from Chinese Wallets
China's credit card market has contracted by 104 million cards since 2021 as consumers abandon multiple cards and banks grapple with rising bad debt. Stricter regulations and competition from fintech giants are forcing traditional lenders to pivot from mass issuance to high-quality, niche lending.
Northwest Resilience: Bank of Lanzhou Defies the National Margin Squeeze
Bank of Lanzhou reported a 20.45% profit surge in Q1 2026, defying national trends of narrowing interest margins. The lender is leveraging digital transformation and strategic lending in manufacturing to maintain its dominance in Northwest China.
China’s Provincial GDP Reshuffle: The Brutal Divide Between Tech Pioneers and Resource Laggards
China's Q1 2026 provincial data shows a significant ranking shift, as tech-focused regions like Zhejiang and Chongqing outpace resource-dependent provinces like Shanxi and Liaoning. The data highlights a growing economic divide fueled by the transition to high-tech manufacturing and green energy sectors.
From Momentum to Resilience: Beijing Calibrates for a Long-Haul Economic Recovery
The Politburo's latest economic roadmap shifts focus from broad stimulus to 'precise' structural support, prioritizing high-tech manufacturing and AI integration. It signals a new regulatory era aimed at curbing 'involutionary' competition while treating capital market stability as a matter of national security.
China Unleashes the 'Housing Piggy Bank' in Desperate Bid to Revive Property Demand
Chinese local governments are rapidly expanding the Housing Provident Fund's scope, increasing loan limits and allowing family-wide fund pooling to stimulate the property market. With over 60 policy changes in April 2026 alone, the fund is being transformed from a simple savings mechanism into a versatile tool for housing consumption and urban renewal.
Unlaced: The Slow Unraveling of China’s Former King of Men’s Footwear
Aokang International, once China's leading men's footwear brand, has reported its fourth consecutive year of losses as it struggles with a sharp decline in revenue and the closure of nearly 400 stores. The company's failure to maintain international partnerships and adapt to shifting consumer tastes highlights a broader crisis for legacy domestic retailers.
Crypto's Gravity Check: Bitcoin Retraces to $76,000 as Market Consolidation Takes Hold
Bitcoin and Ethereum saw a synchronized decline of over 2% in a 24-hour window, with Bitcoin falling to the $76,000 level. The price action reflects a period of consolidation and cautious sentiment in the global digital asset markets.
Bitcoin Retreats to $76,000 as Market Momentum Faces Psychological Resistance
Bitcoin has fallen 2% to $76,000, signaling a cooling period in the 2026 crypto rally. The decline reflects broader investor caution and profit-taking at high valuation levels.
The Bitter Aftertaste: How China’s Braised Snack King Fell from Grace
Juewei Food, China's largest braised snack retailer, has reported its first annual loss and shuttered nearly 6,000 stores amid a massive financial fraud scandal and cooling consumer demand. The company's fall from grace highlights the fragility of franchise-led expansion and the intensifying competition in China's price-sensitive snack market.
Spotify’s Sour Note: Market Rout Wipes Out 13% as Streaming Enthusiasm Hits a Wall
Spotify shares plummeted by over 13% at the market open on April 28, reflecting deep investor concern over the platform's profitability margins. The sharp decline underscores the growing difficulty streaming services face in balancing expensive content acquisition with a market that is increasingly focused on bottom-line results.
China’s ‘Super Bull’ Bets on Strategic Metals: Zhang Jianping Takes Major Stake in Northern Rare Earth
Legendary Chinese investor Zhang Jianping has acquired a 2% stake in Northern Rare Earth, becoming its fourth-largest shareholder. The move follows a stellar first quarter for the company, which saw net profits double amid a resurgence in the strategic minerals market.
AI Infrastructure Boom Fuels Profit Surge at Victory Giant Technology
Victory Giant Technology reported a 40% jump in Q1 2026 profits, driven by strong demand for high-end PCBs used in AI and automotive tech. The company is successfully ramping up production at its Huizhou facilities to meet global hardware needs despite broader market volatility.