China’s top market regulator fined seven major e-commerce and food delivery platforms a combined total of 3.59 billion yuan ($530 million) on Friday for violations related to “ghost kitchen” operations, in one of the country’s largest penalties regarding online food safety. Ghost kitchens are unqualified food preparation facilities that produce meals exclusively for delivery and…
Chinese company Aladdin Holdings Group and the Ethiopian embassy in Beijing sign a strategic memorandum on Wednesday for a proposed China-East Africa Modern Agriculture and Cultural Tourism Industry Innovation Center. [Photo provided to chinadaily.com.cn] Chinese company Aladdin Holdings Group and the Ethiopian embassy in Beijing signed a strategic memorandum on Wednesday for a proposed China-East…
State Grid Taizhou Power Supply Company recently held a volunteer activity at a local center serving special groups in Taizhou, Zhejiang Province, where its volunteers carried out electrical safety checks and took part in a series of interactive activities with the participants. Through the “Light Knockers” community care initiative, the volunteers inspected wiring, switches and…
Sheng Hong, senior partner at McKinsey & Company Senior executives of management consulting firm McKinsey & Company have urged Chinese companies going global to integrate into the local ecosystem, and customize and develop products for the local market to meet the needs of customers. Sheng Hong, senior partner of McKinsey & Company, said: “For many…
China’s top securities regulator released draft rules detailing administrative penalties for illegal share disposals by major shareholders on Friday, in a move to better protect investors’ rights. The China Securities Regulatory Commission said the draft implementation rules, open for public consultation till May 17, have detailed the definition and punishment of illicit securities transfers. Sources…
Manycore Tech became the world’s first publicly traded spatial intelligence company listed on the Hong Kong Stock Exchange on Friday, under the stock code 00068.HK. The listing also marks the first initial public offering (IPO) among Hangzhou’s much-talked-about “Six Little Dragons” of tech startups. Since the launch of its public offering, the company has attracted…
Guangdong’s import and export volume reached 2.54 trillion yuan ($181.7 billion) in the first quarter, up 19.4 percent year-on-year, customs data showed Friday, extending the province’s streak of positive annual growth to 14 consecutive months. Exports rose 14.3 percent to 1.53 trillion yuan over the period, while imports climbed 27.8 percent to 1.01 trillion yuan,…
China’s overall nuclear power footprint, including units both in operation and approved for construction, has reached a world-leading 125 million kilowatts, driven by a rising number of new projects, according to an industry blue book released on Friday. The China Nuclear Energy Development Report 2026, published by the China Nuclear Energy Association, said that the…
Engineers at China State Shipbuilding Corp, the world’s largest shipbuilder, have developed one of the world’s largest models of rotor sail, aiming to tap into the burgeoning global market for green ships. The rotor sail system, which has yet to be named, was designed at the Luoyang Ship Material Research Institute and has undergone a…
China has intensified its war on tax-related crimes, identifying over 7.38 million false VAT invoices and recovering 24.6 billion yuan ($3.6 billion) in lost export tax rebates over the past two years, as eight government departments vowed to forge a tougher, comprehensive enforcement mechanism. The data was released during a national meeting in Beijing on…