The TMT, or technology, media and telecom sector has created the most billionaires in China, with 80 from the sector according to business magazine New Fortune’s 500 rich list in 2019. China’s richest man — Tencent’s Pony Ma — is from that sector, with a personal wealth of 226.04 billion yuan. Supported by technology, online…
In a bid to foster a healthier competitive landscape, Chinese regulators have called for intensified efforts from players in the automotive sector to combat destructive pricing practices and aim for long-term value. To address the challenges posed by rampant “cutthroat competition” in the automotive industry, the Ministry of Industry and Information Technology pledged on Saturday…
Over the past month, as China implemented optimized departure tax refund policies, Shanghai experienced an 86 percent increase in total sales from this channel, with the refunded amount jumping 77 percent year-on-year, surpassing all other locations in the country. Shanghai Municipal Tax Service released the above data at the end of last month. According to…
TikTok, the video-sharing app developed by Chinese internet company ByteDance, overtook Facebook to become the most downloaded app globally in 2020, according to an industry report by App Annie, a mobile data and analytics service provider. Facebook ranked second, followed by WhatsApp Messenger, Zoom and Instagram. The downloads’ data is based on combined results from…
Two young content creators prepare to livestream from a Wuling vehicle at the Shanghai auto show in April 2025. [Photo by Li Fusheng/chinadaily.com.cn] China’s post-1995 generation is emerging as a powerful force in the country’s auto market, and they’re turning to social media—not dealerships—for guidance on what to buy, according to a J.D. Power report…
The China Economic Life Survey (2020-2021) revealed the top 10 Chinese cities with the highest quality of life in Chengdu, Sichuan province, on April 23, 2021. The survey, which was jointly conducted by CCTV News, National Bureau of Statistics, China Post Corporation, and National School of Development at Peking University, has continued for 15 years,…
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Leapmotor showcases its models at the Beijing auto show in April 2024. [Photo by Li Fusheng/chinadaily.com.cn] Hong Kong-listed Chinese NEV maker Leapmotor announced its first-quarter 2025 earnings late Monday, reporting a surge in revenue driven by strong vehicle deliveries and a notable narrowing of net losses. The company posted revenue of 10.02 billion yuan ($1.39…
Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken Feb 25, 2022. [Photo/Agencies] With unchanged confidence in China’s ongoing technology upgrading and the potential implied in its massive market size, European high-end printed circuit boards and integrated circuit substrates provider AT&S Group will continue production localization and technology…
EU agri-food exports rose to EUR 19.6 billion in February 2025, slightly up from the previous month and compared to a year earlier. Export growth was… Read More »Exports boost EU agri-food trade surplus in February