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China’s crackdowns

China’s crackdowns
Beijing has launched wide-ranging regulatory crackdowns in sectors such as technology, education and entertainment.
AstraZeneca has been targeted by a series of investigations in China over the past few years. Photo: dpa
China’s economic stimulus

Signs of relief for AstraZeneca as China courts foreign investors

Beijing appears to be extending an olive branch to the previously under-fire drug maker as it tries to shore up private sector confidence.

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IPO

Chinese spatial design firm Manycore Tech files for IPO in Hong Kong

Corruption in China

Chinese defence industry exec Liu Weidong under investigation for corruption

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Banking & finance

Salary caps spread in China’s finance sector amid ‘common prosperity’ drive

Some state-backed securities firms have already implemented annual pay caps for senior executives – and large banks, insurance firms and stock exchanges are next.

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Workers in Chinese financial hubs like Shanghai’s Lujiazui are facing pay cuts and layoffs. Photo: EPA
China economy

China’s powerhouse province renews ‘common prosperity’ pledge for 2035

Political mission to narrow China’s wealth divide, thought to have fallen out of favour, makes appearance in Zhejiang’s long-term plans.

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Trending in China

Speculation over China actress Zhao Wei’s divorce from debt-ridden husband

Online fans puzzled at timing of move by blacklisted actress dubbed ‘national Goddess’ to distance herself from ex-husband.

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China’s Communist Party

2 more Chinese generals fall in anti-corruption campaign in military

NPC Standing Committee announces Lieutenant General You Haitao and Vice-Admiral Li Pengcheng removed from China’s top legislature.

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Lieutenant General You Haitao is one of two senior Chinese military officials announced by the NPC as suspected of “serious violation of laws and discipline”. Photo: Weibo/清華國防
China economy

Opinion | Why China will struggle to boost consumption

A system which emphasises stability and control will face challenges in uncovering the DNA of the Chinese consumer.

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China’s Communist Party

China investigates head of Shanghai’s free-trade zone for corruption

Zhu Zhisong, Communist Party chief of Pudong New Area, is among a number of aerospace veterans under a cloud.

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E-commerce

China’s tax man is coming for live-streamers who evade taxes

Huge fines are being imposed on high-profile internet celebrities and streaming hosts, as state authority says they must set a positive example for fans.

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China’s highest tax authority is on a mission to ensure that internet streamers pay their fair share of taxes. Photo: Getty Images
China economy

My Take | Unusual draft law signals China’s resolve to protect private economy

The draft private-economy protection law contains clauses targeting ‘long-range fishing’ and other problematic practices by local officials.

A shopping centre in Beijing. Photo: AFP
China's economic recovery

China curbs ‘excessive’ law enforcement in quest to quell private sector doubts

Law enforcement practices that have raised the hackles of private businesses in China coming under fire from top officials.

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China’s Communist Party

China throws the book: more corruption suspects hit with illicit reading claims

Growing number of disgraced officials being accused by anti-corruption agencies of reading forbidden books, cited as disloyalty to the party.

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Alibaba

Alibaba looks on course for a turnaround amid investor frenzy for Chinese stocks

The renewed positive market sentiment for Alibaba reflects its resilience after struggling in recent years.

Alibaba is among a number of Chinese tech stocks that received a boost this week, following Beijing’s surprise market-support measures. Photo: Shutterstock
Alibaba

Alibaba’s antitrust review comes to close after 3 years of government scrutiny

The State Administration for Market Regulation praised Alibaba for its compliance with the antitrust authority, giving the firm full recognition.

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Signage at the Alibaba Group Holding headquarters in Hangzhou on August 2, 2024. Photo: Bloomberg
China technology

My Take | China’s video gaming industry needs more like Black Myth: Wukong

Wukong’s commercial and political success in China has boosted the country’s struggling video gaming industry.

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Banking & finance

Liu Jin resigns as Bank of China’s president for ‘personal reason’

The move came as a surprise as Liu, born in 1967, has yet to reach the official retirement age of 60 years for men.

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China society

Shanghai’s shut-down liberal bookstore to be reborn as JF Books in Washington

Jifeng Bookstore hosted some 800 seminars in the five years before it closed, a tradition that will continue at the US store, owner Yu Miao says on WeChat.

Fans of Shanghai Jifeng Bookstore’s last branch browse under mobile phone torches after the power supply is cut off pending lease expiry, in January 2018. Photo: WeChat/ 季风微读圈
Didi Chuxing

Ride-hailing giant Didi sees record transactions in June quarter

Didi Global reported a 15 per cent jump in transaction value to US$13.5 billion, while orders rose 17 per cent to 3.9 billion.

China’s Communist Party

Chinese cartoon campaign warns village clans against hindering Communist Party

Official social media post declares that clans form a ‘state within a state’, with potential for negative social effects.

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China's economic recovery

Explainer | How phase IV of China’s Golden Tax System could be the taxman’s secret weapon

With tax evasion costing China tens of billions of yuan a year, authorities are looking to plug leaks and shore up oversight in the 30-year-old system.

The latest phase in China’s 30-year-old Golden Tax System will see a full digitalisation of invoices. Photo: Shutterstock
China’s Communist Party

No bold moves: China’s wide anti-corruption net has officials afraid to innovate

China’s leadership urged to introduce new incentives for local officials who are now playing it safe in the face of anti-graft measures.

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Illustration: Henry Wong
China education

After years of struggle against private tutoring, has China declared a truce?

Three years after a crackdown on China’s private tutoring industry, the sector has not disappeared – in fact, demand is high as ever – and recent rhetoric suggests official stances may be softening.

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China’s Communist Party

China says no ‘throwing eggs’ as party officials become fans of poker-like game

Guandan, or ‘throwing eggs’ in Chinese, has fallen out of favour over concerns the game may fuel a ‘negative atmosphere’ in the workplace.

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Trending in China

China actress Angelababy slips back into view after Crazy Horse Paris controversy

Chinese actress Angelababy is easing her way back into public life after she was banned by the mainland authorities for attending the risque Crazy Horse Paris cabaret show in France last year.

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Chinese actress Angelababy is easing back into public life after she was sidelined by the mainland authorities for attending a risque adult show in Paris last year. Photo: SCMP composite/Weibo/IG@angelababyct
China’s third plenum

China trains sights on vast finance sector with new anti-corruption body

CCDI makes announcement following third plenum goal to ‘bring all financial activities under supervision’.

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Wang Weidong, 56, former anti-corruption chief in Tibet, has been announced as party secretary of the new “Central Financial Discipline Inspection and Supervision Working Commission”. Photo: Weibo/人世间一迷途小书虫
Video gaming

Beijing approves 105 video games in July, including new Tencent, miHoYo titles

The National Press and Publication Administration granted licences to Tencent’s Arena Breakout: Infinite and miHoYo’s Xingbu Gudi, about which little is known.

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Tencent

Tencent to close online education platform as restructuring efforts continue

Shuttering the 10-year-old online education platform with more than 400 million users shows Tencent’s focus on its cost-cutting strategy.

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