As of March 8, 2024, Zhong Shanshan reigns supreme as China’s wealthiest individual, boasting a staggering net worth of 62.7 billion U.S. dollars. Following closely behind is Zhang Yiming with an estimated 43.4 billion, solidifying his position as the second richest person in the country. Colin Zheng Huang and William Ding round out the top...
The mention of “scam” often conjures images of recent financial scandals like FTX and Theranos. However, large-scale fraud isn’t limited to specific regions, and Vietnam is currently grappling with its own “trial of the century” – a $12.5 billion real estate scam masterminded by Truong My Lan, a 67-year-old tycoon. Lan, a self-made business woman...
South Korea recently shattered its own record for the world’s lowest fertility rate, falling to a dismal 0.72 births per woman in 2022. This represents an alarming 8% decline from the already concerning rate of 0.78 in 2021. This plummeting birth rate has triggered a full-blown population crisis in South Korea. With the population declining...
China, as evidenced by a recent government work report, has signaled a significant shift towards a more open and integrated economy. This report outlines a series of measures aimed at fostering a level playing field for foreign businesses by ensuring “national treatment” for foreign-funded enterprises, ultimately promoting mutual benefits. To achieve its goal of higher-standard...
Science and technology has emerged as a top priority for China in 2024, with a significant 10% increase allocated to this sector in its annual budget. This translates to ¥379.8 billion (roughly US$52.7 billion), marking the largest percentage rise among all major government spending areas and a significant jump from last year’s modest 2% increase....
The landscape of global science and technology is witnessing a shift in power dynamics, with China making significant strides and surpassing South Korea in advancements across 136 key technologies for the first time in 2022, according to a report by South Korea’s Ministry of Science and ICT. This report, which uses the US as the...
The European Union has levied a hefty fine of €1.84 billion (roughly $2 billion) on Apple for breaching antitrust rules in the market for music streaming services on its iOS platform. This penalty centers around Apple’s use of “anti-steering provisions,” which restrict music streaming apps from informing users about cheaper subscription options outside of the...
China’s mobile phone market witnessed a remarkable surge in January, with shipments skyrocketing 68.1% year-on-year to reach 31.78 million units, according to data from the China Academy of Information and Communications Technology (CAICT). This significant growth suggests a robust market and strong consumer demand. The data revealed a clear shift towards 5G technology, with these...
A UNESCO official highlighted China’s positive contributions to improving education quality in rural areas, particularly through teacher incentives and training programs. Carlos Miguel Vargas, chief of UNESCO’s section for teacher development, praised China’s efforts during the launch of the United Nations Secretary-General’s high-level panel on education in Johannesburg, South Africa. This panel aims to address...