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Wahaha CEO’s bank account frozen in HK

The Hong Kong High Court has frozen a bank account containing $1.8 billion amid a legal battle over the inheritance of the Zong Qinghou, late founder of China’s leading beverage giant Hangzhou Wahaha Group. The defendant in the case is Zong’s daughter and current Wahaha CEO Kelly Zong Fuli, who has been sued by Zong’s…

NDRC recalibrating steps to drive growth, boost demand

A customer (L) tries gold jewelry at a shopping mall in Nantong, East China’s Jiangsu province, May 3, 2025. [Photo/Xinhua] China is poised to introduce additional macroeconomic policies as necessary to further stabilize employment and boost domestic demand, while stepping up reforms to build a unified national market, the country’s top economic regulator said on…

Zero tolerance for chips with security risks

China-made chips on display during an expo in Shanghai. CHINA DAILY China’s summons to Nvidia over the alleged cybersecurity threat posed by the US company’s H20 artificial intelligence chips sold to the country showcases Beijing’s zero tolerance toward chips with “backdoor” security risks, experts said on Friday. Such risks, if validated, will also deal a…

Platforms to rein in aggressive discounting

JD delivery worker Li Hualu displays a notification that says he now has full social insurance and a housing provident fund on March 6 in Hangzhou, Zhejiang province. Local media reported that he was the first delivery rider to enjoy such benefits in the city. BU ENSA/HANGZHOU DAILY China’s leading e-commerce and food delivery platforms…

Foreign biz units soaring in Yiwu

Pakistani businessman Ali Kamran receives the business license on July 31, 2025 for his company set up in Yiwu, East China’s Zhejiang province, with his firm becoming the 10,000th foreign-funded company registered in the city. [Photo/Xinhua] The total number of foreign-funded business entities in Yiwu, Zhejiang province, officially surpassed 10,000 on Thursday, making it the…

AI drive key to high-end growth

More than 1,200 guests from upwards of 30 countries and regions gathered at the 2025 World AI Conference & High-level Meeting on Global AI Governance on July 26 in Shanghai. [Gao Erqiang/chinadaily.com.cn] China’s latest efforts to promote large-scale commercial application of artificial intelligence will bolster industrial upgrades and inject strong momentum into high-quality economic growth,…

Beauty industry looks beyond skin-deep changes

Wang Tso-Hsuan (left), CEO of Taiwan Nice Clinique and a veteran practitioner with 20 years of experience, administers an Ellanse dermal facial filler injection to shape his client’s nose. [Photo provided to CHINA DAILY] Like a growing number of young Chinese women, 31-year-old Zhu Yanzi has sought subtle and “natural-looking” improvements in her appearance over…

Eurostat’s essential summer reads

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China’s game industry sets new records

Visitors gather at a booth where a game show is put on by the organizer during the China Joy, a yearly gaming event, in Shanghai. XU PEIQIN/FOR CHINA DAILY The sales income generated in the Chinese domestic games market surged 14.08 percent year-on-year to 168 billion yuan ($23.4 billion) in the first half of this…