Day: October 27, 2025

China saw a remarkable increase in the number of ultra-wealthy individuals over the past year, driven by a bull market in stocks, with leaders of “new economy” companies emerging as the primary beneficiaries, according to the Hurun Research Institute. Advertisement A record 1,434 individuals made it onto Hurun’s latest China Rich List, each having a net worth of at least 5 billion yuan (US$702 million). This marked an increase of 340 individuals, or 31 per cent, from the previous year. The collective wealth of these affluent individuals reached 30 trillion…

Taiwan’s army has renamed the main auditorium of its headquarters in what is widely seen as another move by the Democratic Progressive Party (DPP) government to erase the legacy of late Kuomintang leader Chiang Kai-shek and the island’s historical ties to mainland China. Advertisement The auditorium, known for decades as Chiang Kai-shek Hall, has been retitled Loyalty Hall, according to the Army Command Headquarters. The change sparked uproar from opposition lawmakers, who accused the government of quietly removing Chiang’s name before the change was officially revealed recently. In response, the…

Few areas of China reflect the country’s decades-long economic transformation more vividly than its cities. Rapid development has made villages into dense urban landscapes and already sizeable metro areas into some of the world’s largest population centres. As the rate of urbanisation slows and the country transitions into a new economic era, we explore how select Chinese cities are navigating the change. Read the rest of our series here. Advertisement Once a remote industrial powerhouse forged deep in the mountains of western China, the former “steel capital” Panzihua is trading…

China’s 15th five-year plan is more than a policy blueprint; it is a pivotal turning point. This plan and the next one will define an era of innovation-led growth, solidifying China’s status as a major power and peer competitor to the United States. Advertisement Since the reform and opening-up policy was launched, China’s economic development has had distinct phases. The 1978-1992 period marked the initial stage of opening up. Reform and opening-up was imperative in the wake of economic challenges after the Cultural Revolution. After Deng Xiaoping’s southern tour in…

Increasingly desperate US farmers, including many who voted for US President Donald Trump, are urging him to adopt a conciliatory approach rather than a confrontational one if a lasting soy deal can be reached when he meets Chinese President Xi Jinping this week. Advertisement As the harvest season slips by with no orders from China and rising input costs – from equipment to fertiliser – farmers say partnership, not strong-arming Beijing, would serve both sides better. Many voiced frustration at Washington’s failure to design tariffs that spared their livelihoods, saying…