Police in China’s northeastern Jilin province made the arrests in connection with a scheme that sent US$296 million to South Korea.
BUSINESS
Chinese authorities shut down illegal crypto service
C hinese authorities have shut down an underground bank that facilitated illegal currency exchange between the Chinese yuan and South Korean won, using cryptocurrency as a medium.
Layer 3 Blockchain Degen Chain Halt Block Production For Hours, Here’s All
Degen Chain, a leading Layer 3 blockchain network, experiences a significant disruption, halting block production for over 12 hours. As speculation mounts, stakeholders seek answers amidst concerns …
Jilin Province of China Cracks Down on $300 Million Crypto Currency Laundering Scheme
The Public Security Bureau of Panshi City in Jilin Province has successfully dismantled an illegal operation involving underground banks and virtual currencies. This crackdown, which involved …
China’s EV sector to test offshore markets after Zeekr’s strong US IPO
The Chinese electric vehicle sector has begun to tap offshore markets for more funding, with shares in EV maker Zeekr gaining 34 per cent on Friday in the biggest IPO in the US by a…
Customs signs MoU with China to boost import, export operations
The Nigeria Customs Service (NCS) has signed a memorandum of understanding (MoU) with the General Administration of Customs of the People’s Republic of China (GACC) to foster bilateral relationship, …
China Cracks Down On $300M Crypto Exchange Fraud, Arrest 6
According to a recent report, the authorities from China had arrested six people in a $300 million crypto fraud crackdown, signaling strict regulatory enforcement.
China Brand Day 2024 events attract nearly 1,800 brands
Nearly 1,800 brands gathered at the events to tell the story of China’s brand development. This year’s new thematic exhibition area focuses on innovation, green and low-carbon, quality of life and …
How China’s ‘Firewater’ Became the World’s Most Valuable Liquor Brand
Moutai is the world’s largest beverage company by market cap, yet it remains largely obscure among global consumers. WSJ looks at the liquor giant’s business strategies and the challenges ahead. Photo …
China Takes Advantage of Cheap Gas and Coal to Rebuild Stocks
China is taking advantage of lower international prices for coal and natural gas to replenish stockpiles of power fuels ahead of another long, hot summer.
Report reveals process, achievements of decade of Chinese brand building efforts
HANGZHOU, May 13 (Xinhua) — A report focusing on the process and achievements of China’s efforts in brand building over the past decade was released on Sunday. The publication of this report was one …
Smartphone brands compelled to evolve again as 5G penetration in China plateaus
Since the commercial operation launch of China’s 5G communication system in October 2019, the number of 5G mobile users in China has exceeded 800 million. The monthly shipment proportion of 5G …
China Has Yet To Have Its ‘ChatGPT Moment,’ Says Billionaire Startup Founder Kai-Fu Lee Who Is Launching Consumer-Oriented AI App Wanzhi
To bolster China’s artificial intelligence sector, renowned AI pioneer and founder of Beijing-based startup — 01.AI — Kai-Fu Lee is launching the company’s first consumer AI application. What Happened …
