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Tencent Earmarks 50 Billion Yuan for ‘Common Prosperity,’ Beijing Says No to Shared Electric Bikes in City, H&M Fined

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Tencent Earmarks 50 Billion Yuan for ‘Frequent Prosperity,’ Beijing Says No to Shared Electrical Bikes in Metropolis, H&M Fined

Right here is right now’s rating of the ten most-read information tales in China, in economics, finance and present affairs, to assist in giving you a way of what’s trending within the Chinese language language sphere.

Chinese language social media customers have been paying shut consideration to the lawsuits filed towards disgraced pop star Kris Wu’s firms. They’re additionally following the extradition case of Huawei’s chief monetary officer, which might be selected Oct. 21.


1. Corporations associated to pop star Kris Wu sued for contract violation

Corporations associated to pop star Kris Wu (exterior supply, in Chinese language) have been sued for over 10.8 million yuan ($1.66 million) in a contract dispute regarding a world tour live performance, based on knowledge supplier Tianyancha. Wu has been arrested by Beijing police on suspicion of rape.

2. Beijing bars shared electrical bike providers

The Beijing authorities clarified Wednesday that it doesn’t permit shared electric bicycle (exterior supply, in Chinese language) providers within the metropolis. The Municipal Transportation Fee has imposed administrative penalties 9 occasions on shared electrical bicycle operators involving eight manufacturers as of the top of June.

3. Tencent allocates 50 billion yuan to assist promote “widespread prosperity”

Chinese language tech large Tencent introduced Wednesday it’s going to give 50 billion yuan to help the federal government’s wealth redistribution efforts, including to an April pledge of fifty billion yuan for a “sustainable social values” program. The brand new funds might be targeted on areas like growing incomes for the poor, bettering medical help, selling rural financial effectivity and subsidizing education schemes.

4. White Home admits “a good quantity” of U.S. army tools fell into Taliban palms

U.S. Nationwide Safety Adviser Jack Sullivan acknowledged Tuesday that “a good quantity” of U.S. military equipment (exterior supply, in Chinese language) is now below the management of the Taliban.

Picture: VCG

5. H&M fined a complete of 1.46 million yuan for product high quality points

As of Wednesday, H&M’s China department has been handed 22 administrative penalties, with the whole fines amounting to 1.46 million yuan. Within the newest occasion, H&M’s Beijing Fangshan branch (exterior supply, in Chinese language) was fined 32,000 yuan for the sale of merchandise that failed a high quality inspection.

6. Tencent sues Douyin over copyright infringement

Tencent is suing short-video platform Douyin (exterior supply, in Chinese language) for 100 million yuan for the persistent use of numerous unauthorized movies of the Tencent-owned TV sequence “Crime Crackdown.”

7. Biden admits Afghanistan’s authorities collapsed sooner than anticipated

U.S. President Joe Biden (exterior supply, in Chinese language) acknowledged Monday that the Afghan authorities’s collapse and the Taliban takeover occurred sooner than the U.S. authorities anticipated, however insisted that ending the 20-year conflict was the suitable choice.

8. Canadian choose to set date of ruling in Meng Wanzhou extradition case on Oct. 21

The listening to within the extradition case of Huawei’s Chief Financial Officer Meng Wanzhou (exterior supply, in Chinese language) ended on Wednesday. A British Columbia choose will determine on Oct. 21 when the ruling might be introduced.

9. Tibet celebrates seventieth anniversary of liberation

Lhasa, capital of southwest China’s Tibet autonomous region (exterior supply, in Chinese language), on Thursday held a celebration to mark the seventieth anniversary of the liberation of the area.

10. Nanjing lowers threat stage for Covid-19

Nanjing, capital of East China’s Jiangsu province (exterior supply, in Chinese language), introduced that the Lukou neighborhood in Jiangning district was downgraded from a medium-risk space to a low-risk space on Thursday, which means the complete metropolis is now designated as low-risk. As of Wednesday, no new confirmed native instances have been reported for six consecutive days.

Translated by intern reporter Chen Bingyi.

Caixin has not independently verified the veracity or accuracy of the entire headlines or tales.

The day by day rating of most-read information tales amongst Chinese language individuals, about China and world affairs, is collectively supplied to you by Caixin Perception and HANA Knowledge, a man-made intelligence know-how crew.

The important thing indicators calculated on the checklist are based mostly on mass knowledge sourced from China’s mainstream social media platforms and on-line information web sites. Click on here for an in depth introduction of our methodology.


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