Chinas

[ad_1] Bottled-water tycoon Zhong Shanshan has become China’s wealthiest person, worth $60.5 billion STR Text size Bottled-water tycoon Zhong Shanshan has become China’s wealthiest person, according to an annual ranking released Wednesday, as a government campaign to rein in the super-rich took a big bite out of the fortunes of perennial front-runners like Alibaba co-founder
[ad_1] China’s growth rate slowed significantly in the third quarter, adding to fears that flow-on effects mean that the so-called post-pandemic recovery in the global economy could be short-lived. According to figures released on Monday, the economy grew by 4.9 percent in the third quarter compared to the same period in 2020 but by only
[ad_1] CHINA’S STATEMENT The PBOC said it will “resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people’s properties and maintain economic, financial and social order”. It said that trading of virtual currencies had become “widespread, disrupting economic and financial order, giving rise to money laundering, illegal
[ad_1] CHINA’S STATEMENT The PBOC said today it will “resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people’s properties and maintain economic, financial and social order”. It said that trading of virtual currencies had become “widespread, disrupting economic and financial order, giving rise to money laundering,
[ad_1] Chinese President Xi Jinping’s speech stressing the idea of “common prosperity” at a meeting of the country’s Central Committee for Financial and Economic Affairs this month spooked luxury investors, resulting in an estimated $120 billion being wiped off luxury goods company market capitalisations. Investors were rattled by Xi’s desire to curb “excessive incomes,” the