Beijing topped the charts for rich families, while Shanghai (above) and Hong Kong were in second and third place, Hurun says. Photo: EPA-EFE

China’s affluent families see wealth, numbers decline, Hurun report says

The number of rich families in China declined for the second time in 15 years as the world’s second-largest economy tackles a slew of economic challenges.

1 hour ago

Climate disclosures: region needs more education, best practices exchange

Companies in Asia-Pacific will need education, cooperation with suppliers and exchanges of best practices to meet tightening climate-disclosure requirements, says Alexander Bassen of the Greenhouse Gas Protocol’s Independent Standards Board.

Companies in Asia-Pacific will need education, cooperation with suppliers and exchanges of best practices to meet tightening climate-disclosure requirements, says Alexander Bassen of the Greenhouse Gas Protocol’s Independent Standards Board.

19 Mar 2024 - 7:30AM

China’s private firms fed up with crippling payment delays, ‘red-tape excuses’

As Beijing tries to invigorate the economy, on-the-ground reactions suggest more government spending is needed to stabilise demand and restore shattered confidence in hard-hit industries.

As Beijing tries to invigorate the economy, on-the-ground reactions suggest more government spending is needed to stabilise demand and restore shattered confidence in hard-hit industries.

19 Mar 2024 - 9:07AM

China boosts germ plasma resources by 530,000 during largest-ever survey

China’s largest-ever survey of germ plasma resources expanded the variety of crop germ plasma resources in the national resource repository by 21.4 per cent amid Beijing’s increasing focus on food security.

China’s largest-ever survey of germ plasma resources expanded the variety of crop germ plasma resources in the national resource repository by 21.4 per cent amid Beijing’s increasing focus on food security.

18 Mar 2024 - 8:30PM

China international flights finally starting to rebound as border entries eased

Beijing has relaxed visa rules to attract more visitors in recent months, in line with intentions to stimulate a national economy beset by a property crunch, employment hurdles and hesitant consumer spending.

Beijing has relaxed visa rules to attract more visitors in recent months, in line with intentions to stimulate a national economy beset by a property crunch, employment hurdles and hesitant consumer spending.

18 Mar 2024 - 6:34PM

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An aerial view shows residential buildings under construction by Chinese real estate developer Vanke in Hangzhou, in eastern China’s Zhejiang province, on March 15, 2024. Photo: AFP

China property: rate of decline in investment slows, official statistics show

In January and February, property investment declined 9 per cent year on year, slightly slower than the drop in 2023, according to official statistics.

18 Mar 2024 - 5:36PM

China’s economic recovery on track at start of 2024, but can it be sustained?

China’s manufacturing and consumption gradually rebounded in the first two months of the year, and investment growth and industrial output beat market expectations, but the property market continued to drag.

China’s manufacturing and consumption gradually rebounded in the first two months of the year, and investment growth and industrial output beat market expectations, but the property market continued to drag.

18 Mar 2024 - 6:58PM

China ends 9-year decline in new marriages in 2023, but divorces also climb

China registers 7.68 million newlywed couples, up 845,000 from the previous year in what analysts say is sign of post-pandemic wedding rebound.

China registers 7.68 million newlywed couples, up 845,000 from the previous year in what analysts say is sign of post-pandemic wedding rebound.

18 Mar 2024 - 9:17AM

Xpeng eyes slice of mass-market segment with launch of cheaper models

The global automotive industry is making a “strategic transformation” towards electrification, said Gou Ping, vice-chairman of the State-owned Assets Supervision and Administration Commission.

The global automotive industry is making a “strategic transformation” towards electrification, said Gou Ping, vice-chairman of the State-owned Assets Supervision and Administration Commission.

17 Mar 2024 - 8:48PM

China’s technical expertise touted as new vehicle for progress on belt and road

Technology transfers have always been officially part of China’s belt and road plan, but analysts say those types of exchanges are being increasingly prioritised as Beijing bids to boost ties.

Technology transfers have always been officially part of China’s belt and road plan, but analysts say those types of exchanges are being increasingly prioritised as Beijing bids to boost ties.

17 Mar 2024 - 8:00AM

Anyone for lobster? China utilises LNG cold energy to develop high-end seafood

Trial project in Shenzhen cultivates high-value marine species, such as grouper, lobster and abalone, using cold energy from liquefied natural gas amid China’s push to reduce reliance on seafood imports.

Trial project in Shenzhen cultivates high-value marine species, such as grouper, lobster and abalone, using cold energy from liquefied natural gas amid China’s push to reduce reliance on seafood imports.

16 Mar 2024 - 12:00PM

Fosun unit courts investors days after reports of debt woes at parent firm

Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, is courting both domestic and international investors in a move that is in line with its asset-light strategy.

Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, is courting both domestic and international investors in a move that is in line with its asset-light strategy.

15 Mar 2024 - 8:15PM

Is China’s industrial policy on best path? Some Beijing advisers offer hot takes

Injecting funds into strategic industries such as alternative energy has given China a massive leg up on the international competition, but domestic experts say cracks may be showing.

Injecting funds into strategic industries such as alternative energy has given China a massive leg up on the international competition, but domestic experts say cracks may be showing.

15 Mar 2024 - 8:00PM

China vows punishments if business gripes are verified in investigation

In Beijing’s bid to realise ambitious economic growth goals for this year, steps are being taken to ensure local-level authorities are pulling their weight and not making matters worse for struggling businesses.

In Beijing’s bid to realise ambitious economic growth goals for this year, steps are being taken to ensure local-level authorities are pulling their weight and not making matters worse for struggling businesses.

15 Mar 2024 - 6:48PM

China’s ‘broker butcher’ vows to tighten IPO rules, curb false accounting

China is tightening the screws on new domestic stock offerings, issuing four documents at once laying out some of the harshest rules, checks and penalties yet to crack down on fake accounting and restore confidence.

China is tightening the screws on new domestic stock offerings, issuing four documents at once laying out some of the harshest rules, checks and penalties yet to crack down on fake accounting and restore confidence.

15 Mar 2024 - 11:17PM

Taiwan firms in mainland China turn ‘more cautious’ as moves intensify: survey

Geopolitical tensions, coupled with a weakened and more uncertain business environment on the mainland, continue to take a toll on investor confidence among Taiwanese investors.

Geopolitical tensions, coupled with a weakened and more uncertain business environment on the mainland, continue to take a toll on investor confidence among Taiwanese investors.

15 Mar 2024 - 8:00AM

EU investigates AliExpress over possible ‘dissemination of illegal content’

The European Commission also is looking into whether the company did enough to prevent minors from accessing pornographic material via its online marketplace.

The European Commission also is looking into whether the company did enough to prevent minors from accessing pornographic material via its online marketplace.

15 Mar 2024 - 1:16AM

Will China’s trade-in plan give its economy that new car smell?

China is angling to replace industrial equipment and consumer goods through large-scale trade-ins– but the overall growth impact is uncertain.

China is angling to replace industrial equipment and consumer goods through large-scale trade-ins– but the overall growth impact is uncertain.

15 Mar 2024 - 9:45AM

In global AI race, China Premier Li Qiang vows more leeway to ‘overtake rivals’

His declaration comes during an inspection tour and as the European Parliament approves a new legal framework to get ahead of worrisome risks associated with artificial intelligence.

His declaration comes during an inspection tour and as the European Parliament approves a new legal framework to get ahead of worrisome risks associated with artificial intelligence.

14 Mar 2024 - 7:30PM

China-Australia wine barriers seen falling as Wang Yi confirms trip down under

The Chinese minister’s visit will begin on Sunday, and Australian wine companies are getting production lines ready for a resumption of exports to China that is expected to be imminent.

The Chinese minister’s visit will begin on Sunday, and Australian wine companies are getting production lines ready for a resumption of exports to China that is expected to be imminent.

14 Mar 2024 - 7:01PM