The Hurun China Rich List 2019 was released today, October 10, and reveals just how deep the pockets of China’s elite run.
When it comes to technology, Shenzhen may well be the most fascinating city in the world. It makes the majority of our electronics. It clones the best technology Silicon Valley has to offer with ease.
Luckin Coffee stores have mushroomed across Chinese cities but it’s bleeding cash. Can technology save its finances?
Chen Tianyong, a Chinese real estate developer in Shanghai, boarded a flight to Malta last month with no plans to return anytime soon. After landing, Mr. Chen, a former judge and lawyer, shared on social media a 28-page article explaining himself. “Why I Left China,” read the headline, “An Entrepreneur’s Farewell Admonition.” “China’s economy isRead More
Chinese netizens are unable to register to popular short-video app Douyin using WeChat, marking the latest twist in a bitter battle between Douyin parent company Bytedance and WeChat owner Tencent.
China fostered 97 unicorns – start-ups valued at least US$1 billion – last year, despite an economic slowdown and a prolonged trade war with the United States, according to Shanghai-based research firm Hurun Report. The world’s second largest economy had a total of 186 start-ups last year, with a combined valuation of more than 5Read More
ByteDance, the world’s most-valued startup, just launched a new social media product under its Douyin brand in what many people see as a serious attempt to challenge WeChat. Tencent has long dominated China’s social networking space with WeChat and QQ. WeChat claims to have one billion monthly active users worldwide, most of whom are in China. Its older sibling QQRead More
The relationship between the United States and China has deteriorated with startling speed. An uneasy truce holds while the two governments try to negotiate an end to escalating trade hostilities, but a slide toward a new Cold War is a real possibility. President Trump rushed the United States down this path in haphazard fashion, butRead More
Jack Ma, the head of e-commerce giant Alibaba Group and China’s best-known capitalist, is a Communist Party member, the official Party newspaper said on Monday, debunking a public assumption the billionaire was politically unattached. The People’s Daily revealed Ma’s Party membership in a list of 100 people it said had helped drive the country “reform and opening up” process. Ma isRead More
At the Huaqiangbei Market in Shenzhen, you can build a smartphone from scratch in a couple of hours. Spread over several floors and covering hundreds of thousands of square feet, the market is home to vendors selling the parts that make up your standard phone — cameras, motherboards, frames, screens and so on. All youRead More